There are many homeowners who have been faced by the same predicament though few would admit it, having found a new home, they are overwhelmed by joy they forgot to measure the larger pieces of furniture. They end up either getting a storage rental unit to store the stuff that won’t fit or settle to sell them outright to anybody who wants it to buy new ones that would fit the spaces in their new apartment. These are just some of the frustrating events that if it was thought of ahead of time, would’ve saved you and your landlord a lot of trouble. You may even end up paying your new landlord due to damage you have inflicted onto the property as you moved into your unit. Before going on a final inspection of the unit you aim to rent, take a measuring tape and jot down the dimensions of your furniture, especially ones that cannot be taken apart. Read the rest of this entry »
No one will ever answer with certainty all of the questions on the California Real Estate Broker’s Exam. That means that everyone, sooner or later, will have to guess at a few answers. So here are some strategies to help you come up with the best guess.
First, if there are two choices that mean essentially the same thing, and the correct answer does not appear to be “all of the above,” eliminate those two choices. You can’t choose between them because they refer to the same thing. For example, if answer choice “A” offers “purchase contract,” and answer choice “C” offers “deposit receipt,” you can eliminate “A” and “C.” The answer can’t be either one of them.
In many situations, when you look at a question where you do not know the correct answer, just because of your general knowledge, you should be able to eliminate two of the choices. Two of the choices will not seem plausible or won’t make sense. That leaves your guess between two, which raises the odds of getting it right. Before choosing, you should read the premise of the question one more time. That reading might tip the scale in the direction of one or another.
Some other tips worth paying attention to are these. “B” and “C” are probably the most commonly used correct answer choices. “All of the above” is not usually correct on the Broker’s Exam. It is on the salesperson’s exam, but they want you to notice the nuances and see the distinctions on the Broker’s Exam. “None of the above” is not usually the correct answer choice. It is used as a default answer. Think about it like this. You are writing test questions, and you come up with a concept and you have the right answer in mind. You come up with two incorrect answer choices that are plausible (they must be plausible, right?), and you’re trying to think of a third, but it’s tough. You just can’t think of one. Ah, “None of the Above” will do. You are now finished and can move onto the next question.
“Not enough information given,” is tempting-it appeals to our egos-but I have never seen it to be correct. And if you see an answer choice that offers two of the other answer choices as the answer, like “D: A and B,” that may have a good shot at being correct, just because it’s a really elaborate ruse, and chances are the test writer didn’t go that far to trick you.
Now all of these tips are based on observations over many years. They are not airtight, but they are a valid trend. Always answer what you know for sure-then apply this information. And happy testing!
In many ways 2006 was the non-year for real estate. The National Association of Realtors(R) reported that sales will be down in 2006 about 9 percent from 2005, a record setting year.Many markets waited for spring market which was disappointing. Markets then believed buyers would re-group in summer,and buyers were a no-show. Fall and last market hopes were dashed when fall came and went, with plenty of traffic at open houses, but few contracts.
Pent-up demand from a lackluster 2006 should drive buyers back to market. But, these savvy buyers will be on the lookout for realistic prices and seller give-backs. Most buyers will tell you point-blank that their income gains in the last five years have not matched rises in home home prices. Real estate markets won’t bounce back until home sellers realize as prices go up, the pool of buyers shrinks proportionately. Buyers with a home to sell will include a home-sale contingency, so sellers should be prepared to accept one.
Inventory levels will remain in the six to seven moth range. Listing leftover’s from 2006, will roll into 2007. The leftovers are either un-realistic sellers whose pricing is from the “froth years” or their homes haven’t been updated to keep up with the stiff competition and time-starved buyers.
Mortgage rates will remain in the 5.5% to 7% range. Historically low, but low rates by themselves haven’t motivated buyers to write real estate contracts in 2006.
Foreclosures will rise. Risky loans such as Interest-Only, Option ARM’s and 100% financing will tap out buyers whose used these “appreciation-oriented” mortgages.
Prices will drop 4-10% before leveling off in the majority of non-seller’s markets. Homes that are priced right and are in good condition which offer features and finishes that buyers demand, will sell close to list price in moderate market times. Flat or negative appreciation.
Florida, Arizona, California and Washington D.C., will have unstable markets. Until sellers get a reality-oriented wake-up call markets in these locales will sputter and hiccup.
Ten states posted solid sales gains in the second quarter of 2006 versus 2005. Reported the National Association of Realtors(R). The gains ranged from an impressive 48% in Alaska to a low of 5.3 percent in Georgia. The other eight states included Arkansas, Texas, North and South Carolina, Vermont, Tennessee, New Mexico, and Wyoming.
Residential real estate will return to being viewed as shelter and housing and trend away from being viewed as a speculative investment.
What about 2008? Stable, pre-frenzy market with appreciation at 1% annually.
Many real estates companies have arisen in the 21st century to cater in the needs of the increased demand of shelter for people. As the population increases, so is the demand. Investing in real estate is really a preferable choice since the house value increases over time including the land. Real estate is really worth giving a shot for. For example, if you are not using the house for yourself, you can at least have it rented or leased by other people. Through that way youâ€™re still earning a profit from your investments rather letting it sleep. A lot of people strongly in the belief that, â€œYou should not put your egg in one basketâ€. And itâ€™s true nowadays, since times are hard now. Many people are finding a way to multiply their money. Thatâ€™s why most people are now investing in real estate because it is what most people today greatly needs. Also think about the future. The benefits that will be returned to you will be great.
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The price of real estate is slowly increasing and it is becoming unaffordable for most middle income families. Buying that dream property is still not a reality for most of them because of this reason. One step that you can make in making that dream a reality is relocating to a smaller town where the cost of living is relatively lower but still allows you to capture that dream of building your own home in a decent community.
This may even open new avenues of income and boost your finances to a point where it will allow you to develop your real estate and invest more in it. There are great differences in costs of living depending on your location and usually the difference can translate into savings for you and your family which will allow you to build a firmer foundation and spend more on your real estate investment.
For those who are wondering what Mooloolaba is, it is actually one of the best beach locations in Australia where the best way to test and appreciate the scenery it brings is to rent a unit before you make a decision to purchase a property. This place provides year round sunshine with pristine beaches adorned with clear white sand and surrounded by fabulous cafes and restaurants sure to indulge those who love the outdoor life.
Rental choices available in the area includes waterfront apartments, residences at the back of the beach or homes with access to deepwater for those who love to fish or enjoy a quiet time in their boats. This is a destination worth looking into to.
Now that you have acquired that new home for you and your family, the next big step is moving into that new home. Simple as it may sound, the moving part may be stressful if you are not fully prepared and in control of the situation.
Here are some simple tips to help eliminate the stress usually associated with the moving process and make you look forward to a comfortable and satisfying first night in your new home.
1. Inventory is the key.
2. Take only what is necessary, this is a good time to clean up.
3. Get professional movers who can take care of your belongings and get it there in time and in good condition.
4. Get an insurance based on your inventory to protect your valuables.
5. The moving company may pack your things for you but in case you decide to do the packing yourself, use sturdy boxes and bubble wrap if necessary.
Some people see a glass as half-empty, the others see it as half full. Although the US real estate market has seen better days, some people are are taking this opportunity to make a success out of a dire situation. For instance, the Los Angeles real estate firm, CB Richard Ellis just closed a $2.1 billion investment fund. The money will be used to buy properties nationwide.
Through this fund, the firm will be buying both properties that are only in need of minor repairs and those that need more improvements. The latter will fund real estate development.
CB Richard Ellis Investors is an independently operated affiliate of Los Angeles-based CB Richard Ellis Group Inc., the worldâ€™s largest real estate brokerage.
What would you do if a rental property ends up in your possession, will you hold on to it or sell it? Outsource the management or have a hands on approach? Will you be ready for the tenant, trash and toilet problems? Being a landlord is a big decision specially if you are moving out and want to make your current home more profitable for you.
To determine whether you are ready to rent out your property, you can use these questions as a guide in making your decisions:
• Is your property worth hanging on to?
• Are you at ease with strangers moving into your home?
• Are you ready to handle tenants and still face your day job?