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Real Estate

Real Estate Agents – Do I Need One?

Real Estate – 3

When you got into your first house you breathed a big sigh of relief. You probably thought” we did it! We got into our first house!” The last thing to cross your mind was selling that house. Things change however, the family is growing or maybe one of the bread winners got a transfer to another city. Whatever the reason, it’s time to sell. It’s also time to make a very important decision about who is going to handle that sale.

One of the biggest reasons that someone hires a real estate agent comes down to just one thing: time. If someone is selling a house, then they are probably looking for a new house or are shopping for items for a new house. They won’t have the time to advertise, take calls, show the house, handle the negotiations and close the deal. I don’t know if it’s this way in your state, but in mine, real estate agents have to be licensed by the state. Agents have to go to school and pass a test to get their real estate license.

When selling your house, one of the first things that you need to do is set an accurate asking price. It’s hard to set a price if you don’t know how much the houses in your area have been selling for. A real estate professional has spent many hours going through the local listings and showing local houses, so he or she may have a far better idea as to what your house is worth.

Another area where real estate agents have a lot of experience is in negotiations. If more that one party wants your house, a skillful negotiator may be able to get more that the asking price for your house.

If you’re thinking about selling your house by yourself, ask yourself how much do you know about escrow, inspection, appraisal, earnest money and closing? Think about all of these items when you are thinking about whether to hire a real estate pro.

Of course, it is still legal in most areas to sell your own house. Most of the people who sell their houses themselves, do so because they would like to put more cash in their pockets at closing.

I bought my first house in 1984 for $40,000.00. The seller probably paid the real estate agent about $500.00. I’ve made some improvements plus the market in my area has been hot for some time now, so I think that the house would go now for around $300.000.00. I would have to pay a real estate agent about $15,000.00. This is a lot of money. I can see why people consider selling their own house. What I have to think about is how much that house has increased in value since I bought it. The trouble is; I won’t see any of that appreciation unless I sell the house.

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Real Estate

Investing in Real Estate – Risk Reduction Tips for New Investors

Real Estate – 4

The fear of losing money can deter people from getting involved in real estate investing. Certainly it’s a valid concern. Real estate investment, like any form of investment, is speculative and carries a certain amount of financial risk. However, experienced investors develop strategies to minimize risk. They choose investments on which they will at least break even. New investors may not have the same expertise to draw upon, but they can still take practical steps to reduce their own risk.

Don’t Quit Your Job

It can be difficult to juggle full time employment and real estate investing. Nevertheless, don’t be in a hurry to quit your job. Wait until your investment profits at least equal your salary. The security of a steady income is important to most people, especially those with a family. With a job as backup, you’ll be able to sleep better at night. More importantly, you won’t make foolish deals out of panic or financial need. In addition, if you don’t have a job or you are self-employed, you may have trouble getting financing for real estate transactions.

Find a Mentor

This is a tried and true way to get safely started in real estate investing. Find a successful investor who is willing to guide you. You may need to pay your mentor a fee, but it’ll be worth it. Your mentor can teach you how to interpret the market and how to avoid getting in over your head. With a mentor’s advice and direction, you’ll bypass the trial and error process that causes so many new investors to lose money and become discouraged.

Get a Good Accountant

Buying and selling real estate has so many tax implications that any serious investor should have professional advice. An accountant who specializes in real estate tax law can show you ways to earn more profit or avoid incurring costly penalties. Make sure that the accountant you select has years of experience in this area.

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Real Estate

Where to Start When Buying Real Estate Property?

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The Simple Man’s Logic.

When I started looking into real estate, I was somewhat confused. I gathered all my important papers and marched to the first Real Estate Agent in town. Boy was that a big mistake! That agent took me through hoops and I literally jumped over rope! I got frustrated and mad! I called the agent up and said, ” I no longer need your services”. I had some experience since my father was in the military and he careless for the military quarters so he bought a house every time the military said go! Eventually, this was a hobby of my father, and being a daddy’s little girl I got the itch.

Well, what I did was I started doing my own research in real estate. I asked everyone that I know about his or her experience in real estate. I called real estate investors who were friends of the family, local judges, and attorneys in the area. What I found I compiled and started to implement what I learn from the Real Estate Experts. I was determined not be made of a poo poo head by any Real Estate Agent that wanted me to do all the work and he/she takes all the money!

I committed to make a real estate list, its sort of a ” To do” list that works! Here are my four “To do” of what I needed. You can modify it to meet your need, but the concept will always be the same!

1. Know Your Income! This is where you gather all the income in your household or your income. At the time is making only $43,000 as a Special Education Teacher. Not bad earning, but that was it, an EARNING! I was tired of punching the clock!

2. Know your Housing Market! I live in Hampton, Virginia. The cost of living doesn’t not equal to the real estate market. For example, in Jackson, Mississippi I could qualify for a house of $200,000 based on my income and more, but in Hampton, Virginia I can only afford $122, 000 to $130,000 price range. I would be pushing it, if I would say, $150,000. The housing market is astonishing! And we are only talking about a standard 3bedroom/2bathroom. This brings me to the third step. Your debit to income ratio. That’s how much you owe and home much you take in.

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Real Estate

Real Estate Loan Leads – Finding Loan Leads Is Not That Hard

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The real estate loan leads market is a BIG market now. With increasing popularity of the Internet, the fact is that more and more people find it an easy to use and access medium. So whether it’s mortgage loans or buying real estate or searching for foreclosure properties, the internet is the best bet. All they need to do is decide where to buy the real estate loan, how to buy and then get the ball rolling.

While buying real estate loan leads is not difficult, it’s important for you to understand what you are paying for. Firstly, let’s understand real estate loan leads in more detail.

Websites that offer real estate loans sell the information to you. As millions of Americans browse the Internet looking for mortgage options, they also enter their contact information in these websites. Some of the best places to source real estate loan leads are lead sellers through who major sites like MSN, Yahoo sell this information. Some other recommended sites to buy real estate mortgage leads are directly from sites such as Live Lead Network, NR Leads and Juicy Leads.

Real estate loan leads are definitely good, but live consumers who are interested in your services are even better! Nowadays, mortgage lead companies are setting up call centers to call up the prospective leads on your behalf, which also helps in cutting down on the number of useless calls. Pre-screened leads are better than out dated leads and old data.

You can even buy real estate loans leads from companies who offer refinance deals. First time homeowners are just a part of this growing market, there are many there who want to refinance their own home and are looking for a cheaper and better deal. You can buy lists of existing mortgage holders from database companies like Century List, Selectory and Intelius.

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