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What to Expect When You Buy or Sell a House

admin — Sat, 10 Jul 2010 15:09:01 +0000

A residential real estate closing is quite often a time of great expectation and also a time of great anxiety. You can be assured that an experienced real estate attorney will exercise her years of knowledge and experience to make the process as smooth and stress free as possible for her clients. Whether representing a seller or buyer, she ensures that the transaction moves as expeditiously as possible from start to finish. The purchase or sale of a home generally begins with the drafting and negotiation of the Contract of Sale. This may be done before the attorneys are involved in the transaction. The Contract of Sale is of great significance to both the buyer and the seller. For the seller, the price, closing date, mortgage commitment date, and inspection contingencies are of vital importance. For the buyer, in addition to these issues, the financing terms and the scope of the inspection contingencies are important. After the Contracts are signed, they are permitted to be reviewed by the buyer’s and sellers’ attorney during the 3-day Attorney Review Period. A buyer or seller should always make sure that an attorney reviews the Contract of Sale. During this time, the attorneys can make changes or even disapprove a Contract, allowing either party to walk away from the deal. Once the attorneys (in consultation with their clients) agree on any and all changes, the Attorney Review Period is ended and the Contract is now binding on both sides.

Once the terms of the Contract of Sale are agreed upon, the balance of the deposit is paid. The deposit should be held in escrow by the seller’s attorney and it is released at the time of closing.

At this point, the buyer starts looking for a mortgage loan and calls in a home inspector to inspect the house. The dates by which these activities must be done is set forth in the Contract of Sale. A thorough inspection enables the buyer to ensure that the condition of the property can be ascertained and any defects or deficiencies can be appropriately identified and addressed. After the inspections are completed, both the buyer and seller must explore the options available to them. Depending upon the magnitude of any defects in the house, the buyer may elect to terminate the transaction, may seek a credit from the seller to enable the buyer to perform the repairs or may propose that the seller perform the repairs prior to the closing. In response, the seller may offer a credit to the buyer, may agree to perform some or all of the repairs identified by the buyer, or may indicate that it will not do anything. The negotiation of these issues is completed through the attorneys. To protect the client’s interests, the negotiations must be tailored to accomplish the client’s particular goals in the transaction. Your real estate attorney knows how to best protect her clients’ interests. She is familiar with current trends and has readily available the most current laws and regulations which govern real estate transactions and land use.

The terms of the mortgage commitment should be carefully reviewed by your lawyer to ensure they satisfy the provisions of the Contract of Sale. Once the mortgage commitment is obtained, the date, place and time for the closing is agreed upon by the parties.

The seller typically signs all of the documents before the closing and may not be not present at the closing. At the closing, the buyer and seller must be assured that all of the obligations described in the Contract of Sale have been fulfilled. In addition, items such as real estate taxes must be adjusted between the buyer and the seller. The buyer’s counsel typically acts as the settlement agent and prepares the HUD-1 settlement statement which itemizes the closing costs, the payoff of the existing mortgage, the expenses of the seller and buyer, and the adjustments between them. The buyer’s attorney also supervises the signing of the new mortgage documents. The seller’s attorney delivers a Deed and Affidavit of Title to the buyer’s attorney. The Deed and new mortgage must be recorded by the buyer’s attorney at the County Clerk’s Office after the closing. When the seller’s and buyer’s attorneys agree that all of the conditions of the Contract of Sale have been met, including repairs and clear title, the realtor delivers the keys to the property to the buyer and the buyer’s attorney distributes the checks to the seller, the realtors, the seller’s mortgage lender and any other payments that must be made at the closing. At that point, the closing has been completed.

The purchase of a home is usually the single most important investment that a person makes. By retaining an experienced real estate attorney at the beginning of the process, the buyer or seller can minimize the chance for any error and ensure a smooth and orderly transfer.

Robin M. Gronsky has been practicing law since 1982. She is admitted to practice in New York, New Jersey and Florida.

As a former general counsel of a national mortgage lender, Ms. Gronsky is experienced in corporate matters, mortgage licensing on a nationwide basis, and all facets of residential real estate transactions.

Ms. Gronsky’s practice is geared to maintain personal contact with her clients and develop a close-working professional relationship over a long period of time. This helps assure that her clients’ work will be performed by the lawyer they have chosen.

Ms. Gronsky received her J.D. from the Boston University School of Law.

Tags: buyer, closing, Home, House, Real Estate, seller

Home Buying Tip 7 Key Questions to Ask a Home Inspector

admin — Thu, 21 Jan 2010 22:21:00 +0000

This home buying tip will help you ask the right questions when researching home inspectors.

A proper home inspection will give you the comfort of knowing your new home has been checked for breakage, disrepair and other problems.

But it all starts with choosing a professional home inspector who can give your home the thorough review it needs. So don’t be afraid to ask plenty of questions when choosing a home inspector. Here are seven key questions to ask:

1. What all do you inspect?

Different states have different rules for home inspectors. So you need to know up front what your state requires of inspectors, and then you need to make sure the inspector will actually cover those areas. Ask to see a blank copy of their inspection report or checklist. This will show you exactly what the inspector covers. If they have a problem showing you this document, find another home inspector!

2. What certifications do you have?

Like other home-based industries, home inspection has its share of frauds and phonies. It’s safe to assume they represent the minority, but it still pays to ask about certification. A professional home inspector will be happy to tell you about his certifications.

3. Do you specialize in residential or commercial inspections?

Be sure your inspector specializes in what you want him to do. In this case, make sure they specialize in residential / home inspections (instead of commercial property inspections).

4. How long have you been inspecting homes in this area?

General experience is fine, but regional or local experience gives a home inspector an extra edge. For instance, if an inspector has been working in your area for a long time, they probably know about unique conditions to watch for (radon levels, basement moisture, life expectancy of roofing, etc.).

5. How long do your home inspections usually take?

* Home buying tip — The average home inspection runs anywhere from two to four hours. If a home inspector tells you they can do it in an hour or less, you might want to dig a little deeper. Anything less than two hours is probably not a thorough inspection.

6. How much will the inspection cost?

* Home buying tip — Home inspections average between $300 and $500. This will depend on the size of the home and other factors. The cost of a home inspection is nominal when you consider the peace of mind it brings, but you still need to ask about the cost in advance. You don’t want to be surprised by an outrageously priced inspection after it has been completed.

7. Can I attend the inspection?

A home inspection is a great opportunity to learn about the inner workings of your home. Many home inspectors will let you proceed through the house alongside them. That way, they can educate you about your roof, heating and cooling system, water heater, etc.

Conclusion

This home buying tip will help you choose a professional, qualified home inspector. As a result, you’ll get a more thorough review of the home before buying it, and you’ll enjoy more peace of mind!

Learn more!
This home buying tip was brought to you by HomeBuyingInstitute.com, the Internet’s largest library of home buying advice. Increase your home buying intelligence by visiting: http://www.homebuyinginstitute.com!

Tags: buying a home, Home buying, home inspection, Real Estate

The Most Important Aspect of Flipping Houses – Curb Appeal

admin — Wed, 09 Sep 2009 08:09:05 +0000

Of course, you’ve already considered location, so the first step you need to contemplate in purchasing a house for flipping is curb appeal. What does it look like from the street? If people aren’t anxious to buy after driving buy, what chance do you have of making a sale? Curb appeal is everything.

Actually, it’s curb appeal times two. You need to consider what it looks like to you for buying and you need to envision what it’s going to look like to a prospective home-buyer when you sell.

If the outside of the home doesn’t captivate you, then no matter what you do to the inside, you face an uphill battle. I’ve had great houses with great prices . . . and potential buyers barely slowed down as they drove by. You need to believe that with a little work and a little money, you can transform a home from a liability to alluring.

Curb appeal consideration for you:

Roof lines even? – You don’t want to see a sagging roof, even if it’s structurally sound. That look could cost you thousands in resale value.

Additions un-cobbled? – Many times people add on dormers or little additions. If there are additions: do they fit the basic “look” of the house? Does the roofing material match? You don’t want to be changing those. You want the home to look picture perfect.

Garage converted to a family room or bedroom? – Many times ramblers have original built-in garages converted to extra bedrooms and/or family rooms. The driveway comes up to the house and you can easily see where new siding was added to “hide” the conversion. This rarely works. The best I’ve seen used French Doors into a family or garden room.

House settling? – If you can see from the street that the house has settled, there is little you can do outside of major foundation work.

Concrete work settled? Cracked? – Front steps off kilter? Actually, you can build new steps around them. Often you construct a small deck that both hides the old concrete and enhances the new look. This hides unsightly cracks as well (make sure they are repaired first, however (don’t just cover them up).

Crappy neighbors with crappy homes, crappy landscape and crappy attitudes? – If you can buy their homes for a good price, consider it. If not, pass it by otherwise you’ll be trying to show your home while the police stop by next door for an on-location shooting of “Cops.”

If you purchase the house, you will start working on the curb appeal as well as general remodeling. You need to capture the hearts of your potential buyers.

Curb appeal for your new buyers:

Put up large street address numbers so people can easily locate your home for sale.

Nicely painted – Fresh paint adds value and says the home is well-cared for.

Landscaping – Big bushes and trees add instant value. Tie the landscaping together with edging and you have a complete look. If you don’t know what time of year you will be selling, choose mostly evergreens and then add flowering plants just before you put up your sign.

Charming – Nothing sells like charm. Don’t settle for bland. Add color that highlights the home. Got room for an arbor? Is there a small private area that can still be seen from the street? Room for a bench? Does the house have shutters. They don’t even have to work. They can even have to work. Shutters or “faux” shutters can be used to accent the windows and make them appear larger.

Dramatic lighting – Make sure your address is well lighted. Use dramatic spot lights to show off the landscaping and the private areas. If your house is vacant, choose a nice table by a beautiful window to add an attractive lamp. You want a shade that sends light up and down. You’re want people to have the feeling that they’ve come home after being away, and someone left the light on for them.

People view houses when it is convenient to them, this often means after work, at night. Be sure to check out your curb appeal for different times of day and night.

Imagine the house you’re selling as the perfect home. How would it look, if it were painted as a romantic scene by Thomas Kincade? You would see drama. You would see color. The lighting would pull you into the painting. Create that picture for your curb appeal.

What you want is an image that stays in the mind of potential buyers. They drive by. They call. They look it over. They make their offer. They can’t wait to move in. They pursue financing. You get your asking price . . . or better. Their dream never waivers. This is their home. All of this is done with curb appeal.

Don Doman is a published author, video producer, and corporate trainer. He owns the business training site Ideas and Training (http://www.ideasandtraining.com), which he says is the home of the no-hassle “free preview” for business training videos. Don and his wife Peg at one time owned 33 single family homes, which they purchased, remodeled, and used as income properties before selling them for profit. You can gain from their experiences at Simple Home Repair (http://www.simplehomerepair.com).

Tags: buying houses, flipping houses, Real Estate, real estate investment, selling a home, selling houses

Ten Tips for a Fast Home Sale

admin — Thu, 27 Aug 2009 07:08:04 +0000

Get ready! With the spring sale season just around the corner, now is the time to get your home ready to put on the market. As a Minnesota Realtor, I have seen many homes go on the market that simply are not ready. This decreases the amount a buyer is willing to pay buy thousands of dollars.

These are my 10 ten ideas for sellers to get their homes in top condition for a quick sale.

1. Make the Front Entrance SPARKLE!.

You need to make a great first impression! A coat of paint and a new brass kick plate or doorknocker says “welcome home”. Remove any personalized doorknockers or signs from the front of the home. Remember to trim bushes and shrubs and keep walkways clear. A blooming plant or festive wreath is a nice touch.

2. Organize the Kitchen.

Kitchens sell homesmake yours appear more large and inviting! Clean off counters and organize cupboards and drawers. Store or pack seldom used appliances and large pans. Consider replacing the counter if it is worn or has an unusual color. Repair or replace leaky kitchen faucets and dated florescent light fixtures.

3. Reduce Clutter Inside and Out.

Sort out E-V-E-R-Y-T-H-I-N-G! Throw away anything you do not need and organize the rest. Too much stuff? Consider an off-site storage facility during the move. Donate unwanted items to a local charity. Campers, boats and old cars should be parked at a different location.

4. Clean.

Your home should be spotless and smell clean too! Remember to give attention to the yard and garage too. Buyers want to see the size of your garage not where you dumped all the stuff from the house. If you have a dog, make certain that the yard has been picked up before every showing and it is completely free of debris.

5. Paint.

Light neutral colors make small rooms appear larger. That cute personalization you painstakingly painted on your child’s wall is a paint-over project to a new buyer. Do them a favor and paint over before the first showing. Remove dated wallpaper and borders and paint walls. Use premium quality paint and remember to patch holes properly and tape woodwork prior to starting. A sloppy paint job can be more detrimental to your bottom line than no paint job at all.

6. Update Bath.

If cleaning and painting cannot help a dingy bath, consider replacing vanity, counter and sink. Look at the faucets and light fixtures. If they are vintage, consider replacing. Also consider installing new flooring or buy nice plush floor mats to make the bathroom cozy. If the tub is nasty and stained, look into having it resurfaced.

7. Make Minor Repairs.

Tighten knobs, fix leaky faucets, oil squeaking hinges, replace dirty filters, repair cracked windows and holes in screens. If it can be fixed, fix it! Buyers do not pay top dollar for a “project house”.

8. Fix Roof Leaks.

One tiny water stain on the ceiling will cause a buyer to question the entire roof. Find and fix the leak at the source. This may be the time to call in an expert. Repair any ceiling damage. Disclose any information on repairs made to potential buyers.

9. Explain a Wet Basement.

Do what you can to make repairs but be prepared to explain all existing and repaired problems to the potential buyers. Never try to cover signs of a wet basement.

10. Exterminate.

Call a professional to get rid of the pests, repair any damage, and allow time for any pesticide smells to dissipate before showing. One bug, dead or alive, can make a bad impression on a buyer. If you have periodic mice, remove the traps and bait before showings. Again, disclose any pest infestations to potential buyers before the sale.

ABOUT THE AUTHOR

Teri Eckholm, Realtor
Keller Williams Premier Realty
http://www.terieckholm.com

Teri Eckholm is a native Minnesotan with nearly 20 years of sales and marketing experience. She grew up in a St. Paul suburb and working as a Realtor, she has serviced residents of the Twin Cities metro area for over five years. Teri has assisted hundreds of clients move from across town, across Minnesota and across the United States.

Tags: FSBO, Home, home sale, House, Real Estate, realtor, seller, selling

Farm Expired Listings For Big Commissions

admin — Fri, 14 Aug 2009 13:22:00 +0000

Many real estate agents begin and sometimes sadly end their careers without a plan. And as the saying goes, failing to plan is as good as planning to fail.

Sure, some do the usual and expected things to cultivate new business, like mailing letters and post cards to friends and relatives, phoning acquaintances, and giving out business cards to any and everybody they meet.

Heck, some are courageous enough to “cold call” prospects, the most
dreaded of all tasks! And while all of these activities are good things to do, they don’t necessarily translate into new business opportunities – now or later!

And while these may be good strategies you need more. But instead of working harder why not work smarter?

The most successful Realtors and Real Estate Agents have “lead
generating systems.” Some Farm Expired Listings for huge profits.

A good listing system can:

jump start new or average real estate sales career; bring in real estate listings on a regular basis; week after week
generate prospective buyers and sellers; give you marketing exposure in months rather than years; and position you to know the best real estate investment buys

Personally, I love Expired Listing Systems and their laser beam like focus on warm, responsive sellers. Sellers that are typically still Realtor friendly, eager to sell and will do what it takes to get their properties sold.

Owners of expired listings are motivated for many reasons; double mortgages, vacant properties, terrible tenants, recently married and combining households, recently divorced and liquidating real estate assets, and on and on.

Plus, they have gone through a listing cycle and may be anxious to get on with their lives. But, as you know, or will soon learn, all listings aren’t worth having.

As for me, I initially listed every property that I could; vacant land, single family homes, condo’s, triplexes, mobile home parks, mobile homes, homes in top notch condition, fixer uppers, whatever.

And I got to feeling pretty darn good (and just a little smug) as my listing portfolio grew to more listings than I could manage.

So, I first hired a part time clerk/assistant to help me market my listings, then took on a newly licensed salesperson as a partner and split the listing fees 50/50. Pretty soon my listing system was humming and I was averaging 1-2 listings a week.

I then had an army of agents working for me day and night, as almost all of my listings were in the Multiple Listing System. Working to get me paid, even when I was chaperoning field trips, getting a haircut, or just taking a day off!

That’s what a good real estate listing system can do for you!

So, if you don’t have a good listing system you should get one. After all, if real estate listings are the lifeblood of the industry then how successful can you be without them?

Lanard Perry is the author of “Farming Expired Listings – Your Personal Guide To Listing Success.” Visit his website at http://www.farmingexpiredlistings.com for more real estate sales and marketing ideas.

Tags: expired, farm, leads, listings, marketing, Real Estate

Pre-Purchase Inspection

admin — Tue, 04 Aug 2009 09:18:41 +0000

Should you do your own pre-purchase inspection? Yes and no. Yes, you should inspect a house before you write an offer on it. Then you should put an inspection contingency clause in the offer, and hire a professional inspector. Why do both?

Doing your own inspection can help you get a better deal. Each cracked window or leaky toilet you can find is a negotiating point. You see, you could just make a low offer, but a seller is more likely to accept your offer if you have reasons for it being lower. In fact, you should attach a list of your concerns to the offer, as an explanation and justification for your price.

Use a list as you walk through the house. Using a home inspection checklist keeps you from forgetting things. You don’t have to know the difference between 12-gauge and 14-gauge wiring, or become an expert on all the building trades, as useful as this would be. Just use what you do know, and make a note if something looks “odd” or “smells funny.” Afterwards, you can have a professional inspector take a closer look.

Pay for a professional pre-purchase inspection. Unless you really know a lot, it can save your neck financially. An acquaintance of mine just discovered that the house he made an offer on was almost beyond hope, because their was so much termite and other damage. He backed out of the deal, and considering the tens of thousands of damage he hadn’t planned on, I don’t think he’s regretting the $300 he spent on inspections.

Do a walk-through inspection yourself, by all means. Just also put that clause in the contract allowing you to have professional inspections too. Now, how do you choose the right person to do the inspections? Carefully.

Pre-Purchase Inspection – Choosing An Inspector

For specific inspections that are customary in your area, you can rely on most reputable companies. Termite inspections are the norm here in Tucson, for example, and it’s cheap to get one done by a pest control company (they hope to get the job if there are termites to be eradicated). If the roof has obvious problems, you can get a roofer to take a look and give you an itemized quote.

For general pre-purchase inspections, though, it isn’t as easy to hire the right person. In many states it is relatively easy to get licensed for general home inspection. What you really want, though, is not someone that read the right books and passed a test, but an inspector with real life experience. Ideally, you want a former builder or tradesman that has real experience with everything from electrical work to roofing to plumbing and more.

You want to know what is wrong, but you also want to know what it will cost to fix these problems. Not all inspectors will have that information for you. Ask if they can give you estimates for repairing any problem they find, even if only in the form of a range of the possible cost. You may be re-negotiating the price based on his findings. You could call in contractors to get quotes on big problems, but you need to at least know which are big problems, and a good inspector should be able to tell you.

To sum up: Do your own walk-through inspection, then hire a professional. Ask about their experience. Ask if they can note estimated costs next to problems found. If you want to learn more, ask if maybe you can tag along for the inspection. Do these things and you’ll have a thorough pre-purchase inspection.

Steve Gillman has invested in real estate for years. To learn more, get a free real estate investing course, home inspection checklist, and see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Tags: inspection, pre-purchase inspection, Real Estate

Why You Need a Realtor to Sell Your Home

admin — Sat, 01 Aug 2009 12:15:04 +0000

As you consider selling your home, you might be thinking “Why do I need a Realtor, what value does a Sellers Agent provide to me?”

Here are five areas where a licensed Realtor can help you sell your home -

SETTING THE PRICE

Pricing your home for sale is a careful balance. Set the price too low and you end up leaving money on the table. Set the price too high and your home will be on the market a long time, which will make the problem worse as potential buyers think “that house has been on the market a long time, there must be a problem with it”.

It is the Realtors job to know what homes like yours have sold for recently, and they can utilize the detailed history of the home sales in your neighborhood to tell whether your home – with it’s unique features, location and condition – will bring more, or less, than similar listings. The Realtor always has the pulse of the local and regional Real Estate market, so they know whether the market is heating up or cooling down, and can stay ahead of the trend, pricing your home to get you the highest possible price in the least amount of time.

PROVIDE MARKETING MUSCLE

Attracting interested people to view and buy your home does not happen automatically. A Realtor will market your home to the widest audience of potential buyers through a well-coordinated multimedia campaign. Of course they will use “For Sale” Signs, Newspaper Ads, Internet websites and open houses, but you’ll also be placed in the Multiple Listing Service where other local Real Estate agents can bring it to the attention of their buyers. Realtors can also advertise your home on Realtor.com and Yahoo Classifieds Real Estate where it can be viewed by anyone in the world that is relocating to your area.

BEING OBJECTIVE

Selling a home can be an emotional experience. After all, it’s been a part of your life, perhaps the center of your life, for years. As a third party, a Realtor can keep you focused and provide independent feedback on things you should do, or changes and repairs that should be made, to help the home sell. They will also act as a buffer during negotiations. A licensed Realtor will adhere to a strict code of ethics, and work to represent your best interests.

PRE-QUALIFY BUYERS

A Realtor can help separate the serious buyers from people that are “just out touring homes” and this will save you a lot of time and frustration. The Realtor will determine if buyers are serious by getting answers to questions about their motivations and purchasing power and by ensuring that they have been pre-qualified for a mortgage in the amount needed to buy your home. When the Realtor brings you an offer on your home, you can be sure that the buyers’ finances have been checked and they can close the deal in a timely fashion.

FOLLOWING THROUGH and CLOSING THE DEAL

Selling your house is a complicated process. There are offers and counter-offers. Then come the Contracts of Sale, inspection reports, disclosure forms, deeds, mortgage documents and more. There are many government-required inspections, disclosures and releases to be signed and exchanged between Buyer and Seller. Your Realtor keeps track of it all and sees to every detail. The value they provide is in avoiding delays and mistakes, and coordinating the timing of the sale of your house with the purchase of another, so that you make a smooth transition to your new home.

SUMMARY

Your home is probably your biggest asset. Selling it is one of the biggest transactions most people undertake. To try to do it without a seasoned professional beside you, is like going into a courtroom without a lawyer.

The value that a Realtor provides to someone selling a house is peace of mind. The marketing, the details, the paperwork, the coordination. A Realtor does it for a living every day, and has been through the process dozens, if not, hundreds of times. So relax and leave the details to them. You’ll find that having a knowledgeable Realtor beside you throughout the sale of your home is……… priceless.

Vicki Walker is a Realtor serving the Northern California communities of Davis, Woodland, Winters and Yolo County. You can get more information at her websites, Davis Real Estate and Homes and Woodland California Real Estate

Tags: home sales, Real Estate, realtor, Selling Homes

Hiring A Contractor – 10 Mistakes To Avoid

admin — Sun, 19 Jul 2009 13:07:05 +0000

A very smart attorney I know paid $7,000 for a roof repair, only to have the roof leak the next time it rained. The contractor stalled, made excuses, but never did a thing about it. Anyone can have these kinds of problems when having repairs or improvements done, but to make it less likely, avoid the folowing mistakes when hiring a contractor.

1. Not knowing what you want. If you don’t know what you want, you might not like what you get. Also, if you change your mind and change the job halfway through, the contract – and price – have changed (Hint: it won’t get cheaper). Know clearly what you want done.

2. Not getting everything in writing. You don’t want to hear, “I didn’t say I was going to include the gutters.”

3. Not having dates in the contract. Did you want it finished this year? You better have it in the contract.

4. Paying too much up front. A deposit may be a reasonable request when the contract is signed, and money for materials prior to the start date. Never pay in full before the job is finished.

5. Hiring unlicensed contractors. Actually, this can be okay, if you know what you are doing (and he does). The license doesn’t mean you get expertise, but it does mean you get leverage. A contractor will right his wrongs to avoid losing that license.

6. Hiring the first one in the phone book. Ask friends who had work done, or the owner of a hardware store. Find a recommendation based on a similar job to yours.

7. Thinking there will be no problems. Weather delays, employees quitting, and more will happen. Having problems is okay, but it’s not okay if the contractor can’t work out the issues to your satisfaction.

8. Expecting neatness. Believe it or not, it is sometimes efficient to leave things laying where they’ll next be used. There will be messes, so prepare accordingly. Cover things if it will be a dusty job, for example. Also be clear in the contract that the jobsite will be cleaned up at the end of the job.

9. Not having penalties in the contract. This is important on large jobs. It’s one thing to say “Work to be completed by May 2nd,” but better to add, “$100 per day to be deducted from the contract price for each day the job is unfinished beyond May 2nd.” That’s what I call a motivational clause.

10. Thinking contracts will prevent problems. They help, but unreasonable people on either side of a contract can ignore them, or use “literal readings” to make things even worse. Find someone you can work with, and keep your eyes open.

Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

Tags: contractor, hiring a contractor, Real Estate

Utah County Real Estate

admin — Mon, 06 Jul 2009 16:09:04 +0000

Utah county real estate is becoming more popular each year. Only recently have we begun to see housing prices rise to match the average national prices. Located 44 miles south of Salt Lake City, Utah County lies in a valley beneath the Wasatch Mountains. Utah County is currently experiencing unprecedented growth. Founded in 1852 Utah County has a long history of being a wonderful community. It has consistently been ranked in the top twenty best places to live in the nation by Money Magazine and was ranked in the top twenty best places to do business in America by Forbes magazine. The County ranked 5th for the fastest growth of out all counties in Utah last year with an 8% percent increase. The total estimated population for the area is 398,056. Provo is the largest city in the county with a population of 153,600. Other cities of note are Orem, Pleasant Grove, and American Fork.

The total number of housing units in the county is 104,315. This number is increasing significantly each year. Several large developments are currently being underway in Lehi and American Fork. New construction can be seen everywhere. It is really an exciting time of growth for the Utah County. A majority of these units are owner occupied. Current estimates show that around 33,137 units are being rented. Utah County real estate is very popular among real estate investors due to the ease of renting in the area. There are several colleges, hair schools and dental hygiene schools in the area providing a large population of student renters. The 71,178 units that are owner occupied have an average monthly mortgage cost of $1,148. Due to the higher appreciation rates seen in other parts of the country those who relocate to Utah are able to buy a home that is much larger and newer than their pervious home. This is another reason for the amount of growth we are seeing in Utah County. Real estate here is a great buy.

Another reason Utah County real estate is so appealing is the low crime rate. An FBI report showed the Provo-Orem Area has the second-lowest rate of violent crime in the nation for the year 2000. Utah County is also very family-oriented. The average family size is 3.86, much higher than the national average. Large families and a high student population are responsible for the county’s low median age of 23.3 (the lowest county median age in the United States). This is a community of active young adults and young families.

Median income for a household in the county is $45,833, and the median income for a family was $50,196. Males had a median income of $37,878 versus $22,656 for females. The per capita income for the county was $15,557. Over 12.00% of the population and 6.80% of families were below the poverty line. The poverty rate for the county is partially due to the large student population in the area. Also because of its younger population many haven’t been in the job long enough to receive raises. The lower income of the area makes buying Utah County real estate possible to everyone. Excluding Alpine City where the homes are large and luxurious. Alpine is know for its incredible real estate.
About 88% of Utah County residents are Latter-day Saints; this is probably the highest concentration of Saints in the world. The culture and lifestyle of the people here is unique and welcoming. Members of all faiths have found Utah County Real Estate not only a great buy and wise investment but also a cherished place to call home.

Mark Keller is an internet marketer for http://www.10xmarketing.com Learn more about Utah County real estate by visiting the http://www.lucidiagroup.com at http://www.lucidiagroup.com/Index.aspx

Tags: Home, Real Estate, realtor, salt lake city, utah

Up … Up … and Up Again!

admin — Thu, 28 May 2009 18:02:00 +0000

Stratification in civil engineering refers to the ability to create multi-layer construction, like high-rise building. Stratatization in real estate refers to the ability to create freehold strata lots, as in condominiums and apartments. Stratification and stratatization are the center-point of attention in many municipal planning departments, as vertical construction (also known as elevation construction) takes strong precedent not only in North America but, in fact, all over the world.

One paramount tenet of today’s core urban elevation construction is the requirement that developers provide, at their sole expenses, public amenities that citizens and urban dwellers want. These are public parks, street and off-street illumination, walkways, sidewalks, waterfront, piers etc. etc. The trick to a model urban elevation development is to establish equilibrium between the overall cost of the amenities vis-

Tags: highrise, Real Estate, strata, urban development, vertical development