If you haven’t been living under a rock for the past 12 months, you’ve probably heard all the doom and gloom predictions about the housing bubble bursting, home value averages slumping and the real estate market taking a big hit. Guess what? They’ve a bit over-exaggerated. Looking at the real estate market nationally, it is very true that it’s definitely over the boom of the past few years, however, most areas are still fairing well.

When you’re considering buying or selling a home, the national median home value isn’t going to do you much good (but if you’re curious, it’s at about $221,900). Real estate is an investment, so it is important to move somewhere your home value is sure to appreciate. The best way to see where home value prices are going in a given area is to examine past home value and sales trends, the economy, population, job opportunities, unemployment rates and attraction of that area.

New Mexico (capital city: Santa Fe) is one area that has seen quite a bit of appreciation in some areas. With a large and diverse population of about 1,954,599, New Mexico uses it’s diverse economy to keep job growth and opportunities growing, which is one major factor that can affect home value prices in an area. New Mexico relies on cattle, dairy products, hay, nursery stock and chilies as it’s main agricultural contributions. On the industrial side, New Mexico’s major sectors include electric equipment, petroleum and coal production, food processing, printing and publishing, stone, glass and clay products and of course, tourism.

With such a rich and diverse history and culture, it’s no wonder New Mexico has a big tourism sector. The strong job base and attractions to out of state visitors is one thing that has kept most of the New Mexican real estate market and home value prices steady. With several major cities (Santa Fe, Albuquerque and Las Cruces) New Mexico has plenty of opportunities for the nightlife lover, not to mention that Santa Fe is the 3rd largest art market in the United States! But it is the ancient cultures, world famous cuisines and diverse and varied landscapes that really keep people coming to New Mexico.

With over 30 state parks and varied landscapes (snowy mountains, green forests, blue lakes and white deserts) New Mexico has plenty of outdoor adventures, including camping, hiking, water sports, winter sports, cave explorations, etc. Some major historical and educational sites include the Billy the Kid Museum, Roswell and the International UFO Museum, the Space Museum, and Chaco Canyon National Historic Park – the major urban trading and cultural center of ancestral Puebloan culture. With so many different climates in one state, it’s no wonder New Mexico has so much to offer – not only do people visit, the sites make them want to relocate, therefore providing the state with a steady flow of new residents and therefore stable home value prices.

New Mexico’s unemployment rate reached a historical low of 3.5% in February and is now at about 3.7%. This low unemployment rate means job opportunities are plentiful. The median household income in New Mexico in 2005 was about $39,936 – much lower than the national value. On the flip side, the median home value in the Santa Fe area is at about $350,000, while the Albuquerque area was at about $285,000 in 2006. This means that while home value averages seem to being staying pretty high in New Mexico, the household income is low enough that it makes it more difficult to afford a home in the state.

Most real estate agents agree that since New Mexico did not experience as major a boom as other areas of the nation, they did not experience as much of a bursting of the housing bubble. The uniqueness of the area keeps home value averages high, and the first quarter of 2007 saw many higher priced homes sell – so that the median home value in the beginning of 2007 was almost $520,000. Housing under that price has been moving fast.

In Albuquerque the median home value of single family homes is about $199,000, while median home value of condos are at about $145,000. Housing is affordable, and with a large inventory, now is a good time to buy into the area. Agents in the area expect activity to increase in summer months, though interest rates are rising.

All in all, while New Mexico has some fairly expensive areas (Santa Fe) there is still affordable housing to be found, and not in such high demand that sellers can set any price they want. Home value averages continue to appreciate at a good rate overall, and as more housing and jobs become available, New Mexico is likely to see a decent rise not only in home value, but in new residents as well over the next few months.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Ashley Lichty

The real estate market is the economic sector that involves the buying and selling of infrastructure such as buildings either for residential purposes, business premises, and the industry segment. Like any business sector it is susceptible to the economic forces of supply and demand. The main people involved in this field include the owner, renter, developers, renovators, and the facilitators.

This sector has a number of characteristics that are specific to it. Real estate is durable since the buildings can last for many years while the land it stands on is indestructible. As a result the supply is composed of a large share of already pre-existing stock and a tiny percentage of new development. Thus the stock varies in price only according the deterioration, renovation, and the new development coming up.

Stock in this sector could be referred as heterogeneous since every piece is unique. All buildings are different in terms of the location they are situated in, their structure and design as well as how they are financed. Change in this field takes quite a long time. This is as a result of the long duration involved in financing and construction of new property.

The real estate has the very unique feature in terms of the buyers in this market. The property can be purchased either as an investment with the expectation of earning returns or as a consumption good with the thought of using it. Individuals could also invest in the market for both reasons whereby they use the property for a while before selling it at a profit. As a direct result of its dual nature, there is a high demand since individuals tend to over-invest in this sector.

Immobility is yet another characteristic unique to this sector. The properties as well as the land it lies on are both immobile. As a result there is no physical market place meaning one has to go to where the property is situated. Therefore this issue makes location a prime factor before investment.

The main factor in demand for property is demographic, that is the population size and growth. The demographic composition plays a huge role in determining the demand and as a result the price. The performance of the economy also affects the performance of the sector since it plays a role in the ability of investors to take loans and mortgages for financing their business ventures. Naturally, the pricing determines the level of demand in the sector.

There are a number of ways to finance investment in the real estate market from government and commercial institutions. Financial aid can be obtained from commercial banks, savings banks, mortgage brokers, life insurance companies and other financial institutions. However, the best practice still remains getting funding from your own savings.

In view of the recent real estate market crash it is best to follow some guidelines. As a buyer ensure that the price you pay for the property matters a lot as well as the ability to dispose of the purchase later down the road. If not it is advisable to downsize your mortgage to be on the safe side. As a seller, identify when it is the right time to put your property on the market in order to avoid low offers.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Kevin Elvis Johnson

Opportunities for real estate investment for foreigners is wide and varied in the United States. It doesn’t matter where you’re from and what currency you’d be using to purchase a property, you have a property waiting for you.

There are generally three kinds of real estate investment available to foreigners. These investments include the commercial estate investment and residential property investment. Residential properties are further classified into single family properties, apartments or condominiums and recreational properties. Regardless of what kind of real estate you are interested in, there are all sorts of tax ramifications, financing options and legal requirements that you have to deal with.

Why Should You Invest in the U.S. Real Estate Market?

You’ve probably heard of the increasing number of foreign real estate investments in the United States. This is not surprising. With the troubles that the real estate investment market is facing in the United States, greater opportunities in real estate investment were opened to foreign investors.

With the dollar’s value in its all time low, foreign investors are finding real estate bargains all over the United States. There are no shortages of deals in this market. More and more distressed properties are being sold everywhere and foreigners are pouring in millions buying these foreclosed or distressed properties. The United States real estate has become a fairly attractive long-term investment for foreign investors.

In November of 2006, the National Association of Realtors released a report entitled „Foreign Investments in U.S Real Estate: Current Trends and Historical Perspective“. The report showed that there has been a steady increase in foreign real estate investment in the United States. This is especially after the euro and the loonie became stronger in the face of the continuous devaluation of the US dollar. Prime bargains were opened to foreigners. Many foreigners have now looked into the possibility of retiring or settling in the United States.

If you’re a foreigner, you would find a lot of reasons why you should invest in the United States real estate market. Aside from the fact that the floating exchange rate has given you a lot of leverage over the bargaining table, the financial market is a pretty good reason why you should invest in the US real estate.

The financial market in the United States in relation to the real estate market is quite liberal and the restrictions against foreign investors are pretty reasonable. This is ideal for foreign companies that are seeking to invest in the real estate market in the United States in order to avoid tariff restrictions and are considering setting up an office or a company in the United States.

Furthermore, despite the devaluation of the US dollar and the wide foreclosures of a lot of property, the real estate market remains to be stable, though slightly shaky, due to foreign investors‘ capital appreciation. Domestic real estate buyers may not necessarily share the same opinion, but the market has remained to be strong for foreign real estate buyers. This may be largely credited to the fact that there is minimal risk for them.

Why are Foreign Real Estate Investments Safe and Profitable?

There are a lot of investments you can make, but the safest you can make right now is investing your money in real properties. This is another good reason aside from the fact that you can make a pretty nifty profit, if you like, particularly now with the widespread property foreclosures and seemingly continuous US dollar devaluation. This is especially true if you are going to use the euro or the loonie when making your investment.

But why is US real estate investment safe for foreigners?

It is undeniable that stock investments are not a safe avenue at this point. The recession has not only affected the US economy; the same recession has greatly affected worldwide stock investments. Stocks values are dropping. It is also a fact that even without the current economic situation, stock values fluctuates.

On the other hand, real estate investments are pretty stable if you would compare it to stock investments – or even bond or mutual fund investments. With real estate investment, you’d be putting your money in an investment that would grow in value as years go by.

What are the Benefits of Foreign Real Estate Investment?

US state government supports foreign investments and along this line has formulated various tax breaks to encourage foreign investment on real estate. Many of these tax breaks are not available in many countries. In fact, most countries would frown at foreigners owning real properties within their territory.

Foreign real estate investment in the United States is open to everyone. As long as you can afford to buy the property or at least comply with the mortgage requirements and payments, you can secure for yourself a pretty good property in the United States. Again, with the current economic situation of the United States, this is the perfect chance for you to make an investment.

Another great benefit that you can take advantage of is the availability of mortgage financing. Lenders have opened their doors to foreign investors who are looking into purchasing a property. So, you don’t have to actually deplete your bank account. You can actually secure a mortgage loan and gradually pay it off.

I’m Canadian, What Are My Financing Options?

There is a steady increasing rate of Canadian real estate investors in the United States; and accordingly, the government has made certain that they have attractive financing options available to them.

If you’re Canadian – or if you’re a foreigner – you’d find a lot of reasons why you should buy a piece of real property in the United States. For Canadians, the parity of the currencies or the apparent devaluation of the US dollar is a pretty good reason itself. But how do you finance your purchase?

There are various financing options available to you depending on which state you are in. In Arizona, for instance, you’d get favorable financing terms if you are purchasing a property for recreational purposes, that is, you do not derive any income or benefit from your purchase or ownership. You will be required, however, to sign up a disclosure agreement and give a 30% down payment for your loan. To qualify though for a loan, you may be required to show availability of liquid reserves for a period of three to six months. You may also be required to present a minimum of 3-month bank statement.

If you are purchasing a property for investment, you’d probably meet stricter terms. Requirements may be more stringent. For instance, you could be required to give a down payment of more than 30% and you may be required to show one year worth of liquidity reserves.

Regardless of your reasons, if you feel like you can fulfill the requirements of a financing loan, you can then proceed to actually applying for a mortgage loan. Also, keeping yourself updated with the financing terms flux may be a wise idea.

Understanding the Tax Ramifications of Real Estate Investment

The first foreigner to have ever bought a real estate property in the United States was Peter Minuit. This opened the doors to foreign real estate investors. After a couple of centuries later, foreign real estate investment has grown into huge proportions, accounting for billion-of-dollar worth of industry.

The low risk attached to US real estate market, the availability of countless properties, and the steady market liquidity attract foreign investors in droves. The initial snag, however, is the process of understanding the legal ramifications of foreign real estate investment.

What you have to understand is that foreign investment in the United States can take a lot of forms. A foreigner has various options. He can acquire direct interest. He can acquire an interest in the real estate through a partnership, a corporation, or a limited liability company. The latter is the typical structure used by foreign investors.

Limited partnership or Limited Liability Company offers financial protection or indirect asset protection, especially in cases of bankruptcy, law suits and taxes. Foreign investors are generally taxed on the property as if they hold the property in direct interest.

Ideally, you should secure the services of a real estate accountant to help you out with the tax ramifications, but it would help if you, at least, know the basics before you actually talk to an accountant.

There are tax consequences that you have to deal with when you buy a real estate in the United States. You would need an Individual Taxpayer Identification Number which you will use with all your tax transactions. Your investment in real estates can be treated as a portfolio investment and will be accounted for as an investment income which can either be fixed or a periodic income. This is typically taxed at 30% on gross revenues. This tax though does not apply though to all foreign investors. Tax rates would vary depending on the tax personality the foreign investor opted for. For instance, a corporation would be taxed differently.

Other things that you should take note of are availability and requirements of tax refunds and state tax laws on real estate properties as they may differ from federal laws, among other things.

By knowing all these things, you may save yourself from a lot of hassles when you finally approach a real estate accountant. You’d be in same wavelength when you finally get down to talking business. It is, however, very important that you secure the services of an accountant. You’d have an easier time dealing with the taxes ramifications. You’d also have assistance ensuring that you comply with all the accounting aspect of your investment. This is especially true if you are purchasing a real property for investment purposes.

Do You Need to Secure the Service of a Real Estate Lawyer?

If you are considering buying a property in the United States, you need to secure the services of a real estate attorney – someone who could help you with the legal issues concerning your purchase. It is tempting to forego securing the service of a lawyer to save money, but this could cost you a lot of money in the long run. Make sure that you have an experienced and trustworthy lawyer to help you out. Make sure that you have thoroughly checked out his credentials, profile, history of successful cases handled by him, and other factors that would influence your decision. You could check online and look for a lawyer working within the state where you are considering purchasing a property.

Functions of a Real Estate Lawyer

There is no actual distinctive function for a lawyer in a real estate case. However, you would really need the assistance of a lawyer for various tasks. A real estate lawyer would review the sales contract for you. He would also check on the title and other documents relating to the property. A lawyer would also review your mortgage contract and make the necessary adjustments or corrections. You could also get him to review with you the legal and tax issues concerning the purchase. A real estate attorney could also make the necessary adjustments relating to various expenses and costs involved in the purchase. He would assess your eligibility for tax refunds and draft the documents and statements relating to this.

Putting it simply, a real estate lawyer will be your watchdog. He would guide you through the whole process of purchasing a real estate in the United States in order to make sure that you will be legally protected. You will have a capable and trustworthy liaison to help you out with the contract. He will also face legal disputes if any arise.

Tips on How to Invest in Real Estate Successfully

Now, if you’ve fully bought into the idea of real estate investing in the United States, you might just want to know how to go about investing in real estate successfully. If you want to be successful in this venture, the first thing that you have to avoid is overanalyzing. Of course, it is a good idea to carefully think through your actions but it is a bad idea to overanalyze your investment to nonexistence. You might lose a great opportunity.

Before you purchase the property though, it might be wise to check the property value. If it sits well with you and you can reasonably afford the property, go ahead and make the purchase.

If you are considering the property for a quick flip, make sure that the property is in perfect condition and in good area. This is to ensure that you could double or actually triple your return of investment. If you can inspect the property yourself, do so. If not, a good and trustworthy agent can help you with this task.

Another important thing to remember when you’re buying real estate is good financing. You should take your time to carefully consider all your financing options. Foreign investors can email in their queries to various lending institutions. It is a good idea to make sure that you’ve had their terms and rates on paper because they tend to change these terms and charge you with a lot of junk. Your real estate agent can help you with reviewing the escrow charges.

The bottom line, however, is that it is very important that you do your homework before you actually buy a real property. Investing in real properties in the United States can be profitable especially during these times. In fact, it may be the wisest and most perfect investment you can make right now.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Maria Gudelis

In spite of the growing popularity of professional home staging services in most locations today, you will still possibly meet some real estate agents and brokers who just do not like to use staging for their listings. Within the home selling industry itself, you will find certain real estate agents who are either skeptical of the staging process and how it helps a property sell faster, or those who are immoveable from their own marketing techniques and are not open to trying any new system such as staging.

The hesitation by some real estate agents to use the services of staging professionals may, at times, stem from less-than-positive experiences they may have had previously with other staging companies or specialists. There are home stagers who overstage properties, doing too much with the space and end up distracting from the real emphasis or purpose of the technique altogether. Staging cliches are easy to spot and always come off as bland or fake, and prospective home buyers might end up assuming that something about the true nature of the property is being hidden if there is an excess of staging techniques used in a property.

However, the entire staging industry should not be broad-brushed based on the errors of some of its practitioners. Looking at the big picture, home staging remains a very effective tool in adding to the marketability of a home for sale and achieving a quick selling process. The shorter average time in which staged properties end up being sold compared to the longer average time for non-staged houses is proof positive that this method does work, and it will work if used the right way.

Some real estate agents hesitate to broach the idea of home staging to their clients because of the perceived cost. As many homeowners strive to be more conservative about their expenditures and want to keep costs down, staging updates are often seen as unnecessary or even too expensive. However, the average investment in home staging is not a burdensome amount at all, especially if the home seller is open to put in some time and sweat equity in getting their property into market ready status.

As a matter of fact, home staging that is planned carefully and executed correctly can increase the value of the home listing and speed up the time that it sits on the market. That in itself is a good investment return, as the homeowner can avoid losing money while the house sits longer in the market and loses its value. A well-presented, well-staged house can command a good price and is easily marketable.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Wesley Morales

A foreclosed home is one in which the home owner was unable to pay his home loan so that the lender took over home ownership through the foreclosure process. These bank owned properties are also known as REOs (real estate owned).

The process in Arizona is similar to that in other states and will be the basis for this article. When you work with a real estate agent he will write up your purchase offer with you on a standardized contract which was developed by the Arizona Association of Realtors. The contract allows the agent to customize the contract for your particular purchase and has many built in protections for both the buyer and the seller.

When you make an offer for a foreclosed property, you can expect to receive back from the seller (the bank currently owning the property) an addendum to the contract. These addendums are in essence a counter offer that the buyer must accept if he wants to purchase the property. In some cases the seller will negotiate with the buyer over these terms but most sellers expect the buyer to agree to their terms. We have seen a wide variety of addendums in the past year as we have worked with buyers. In all of them, many of the protections for the buyer in the standard contract are eliminated or modified. Here are some of the things we are seeing.

Inspection Period

In the standard contract, the inspection period lasts ten days from the date the contract has been signed by both parties. We have seen addendums that change that to be ten days from verbal acceptance of the contract and have even seen a five day inspection period that must be completed before the buyer signs and accepts the addendums.

Title/Escrow Company

The seller will typically require the buyer to utilize the escrow company of the seller’s choice. Usually using this company helps facilitate the timeliness of the transaction because the escrow company is familiar with the seller’s requirements.

AS/IS & Disclosures

When you purchase an owner occupied property, you will usually get a Seller’s Disclosure Statement. This will provide information about the property and a history of repairs done. When you buy a foreclosure property, the seller has not occupied the property and typically will not provide any disclosure statements. Additionally, the buyer is generally required to purchase the property in its current condition „as is“ and the seller will not make any repairs. If something is missing such as a kitchen appliance or garage door openers the seller will not provide it. What you see is what you get. Read the addendum carefully to understand what the seller will be responsible for if the property is damaged during the escrow period. The escrow period spans the time from when the contract is agreed upon by both parties until the sale records (close of escrow).

Cost for Extension of Close of Escrow

Most of these addenda have a per diem charge if you need to extend the close of escrow beyond the date in the original contract. The most common reason buyers need to ask for an extension of the closing date is that the lender has not completed loan processing and delivered loan documents to title several days prior to closing to allow time for both the seller and the buyer to sign. We have seen costs ranging from $40 to $100 per day.

Loan Approval

The Arizona contract allows for a return of earnest money deposited by the buyer if after a good faith attempt to obtain a loan at prevailing market rates to purchase the property the buyer is unable to do so. Some addendums are limiting the buyer’s time to obtain loan approval to a set number of days from contract acceptance, for example 25 days. If the buyer does not notify the seller of his inability to obtain a loan within that time frame, he will forfeit his earnest money to the seller. This holds true even if the inability to obtain the loan had nothing to do with the buyer’s financial qualifications. We have seen loans turned down in the past few months for condo purchases because the community had too low a percentage of owner occupied units or the HOA was not financially solid or some cases for both of these reasons.

Tenants or Other Occupants

Most of these properties will be vacant; however, if you see evidence that someone is living in the property when you are viewing it and prior to writing an offer, you need to ask questions. Who is living in the property? If the property has been rented, what are the terms of the lease? We’ve seen addenda that indicate that the seller will not evict any occupants of the property and that it will be the responsibility or the buyer once he has purchased the property. You should also be aware that tenants have rights too. Be very cautious about writing an offer for a foreclosure property that is occupied.

What Does the Buyer Need to Do?

It is very important for the buyer to read the entire addendum provided by the seller prior to signing. If he has questions about the addendum he should ask his real estate agent for clarification. He should also verify that his real estate agent has read the entire addendum and made note of key dates.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Amy Monahan

Sometimes, when a house is put on the market, the sellers need to sell fast. There could be a variety of reasons why, but it doesn’t really matter. The good news is that there are some things that you can do to help your home to sell quickly.

This is true even if it is a buyer’s market. One of the best ways to sell your home quickly is to work with an experienced realtor. Ideally, the realtor would have quite a few years of experience, a number of community contacts, and a reputation for selling homes quickly.

Such a person can also give you a bunch of tips on selling your home as fast as possible. Another way to sell your home quickly, is to work with an interior designer. The truth is, that the colors, the decor and the ambiance in your home, can all help or hinder you in your efforts to sell your home. If, for example, your dining room is bright orange or your living room carpeting is a gaudy purple color, this may actually hinder your efforts.

The key is to paint your home using tasteful neutrals. While a home painted completely in white, can also turn off prospective buyers, research shows that earth tones and other neutral colors can actually help to sell your home. Perhaps this is because such colors will blend easily with a number of different colors. In other words, prospective buyers won’t have to re-paint or re-carpet once they buy the house.

If your home is in mint condition, it is also more likely to sell quickly. Fixing the „small things“ like that leaky faucet or the nail holes in the kitchen walls, can actually help to sell your home as well. For this reason, it is a wise idea to make a list of things that need to be repaired or replaced, before putting your home up for sale. Then, fix the items on the list or hire a handyman to fix or replace the items.

A fresh coat of paint can also work miracles. Curb appeal can also help when selling your home. When you decide to place your home on the market, keep your lawn neatly trimmed or hire a lawn service if you can not properly maintain the lawn yourself. Make sure that the lawn edges are trimmed and that any shrubbery around the foundation of the home is trimmed.

Outside lighting should be properly maintained as well as mailboxes and other items on the lawn. Keep the flower beds weeded and add a layer of fresh mulch around the foundation if necessary. Promptly rake leaves in the fall and shovel the snow in the winter time.

If you are trying to sell your home in the spring or summer, consider planting colorful annuals around your property to attract interest. Remember to keep children’s toys picked up from the yard and stacked neatly as well.

Inside the home, consider putting an arrangement of fresh flowers on the table or burning candles to create a pleasant atmosphere. Many people will bake something like bread or cookies, prior to a viewing, to scent the air and make the home seem comfy and warm.

Cut down on the clutter wherever you can. If you are like most homeowners, you have a considerable amount of clutter in your closets or around your home. Experts advise that homeowners with such a situation, sometimes will rent a storage facility to hide their excess items until the home is sold.

Clear out the garage and other storage areas as much as possible, this will give the illusion that your closets and other storage areas are bigger than what they actually are.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Christianne Child

In financial management studies, an effective financial goal should have 5 characteristics which could be easily remembered as S-M-A-R-T. The following paragraphs explain all the 5 characteristics:

1) Specific

We might be thinking of being financially free but do you know what it takes? This goal is seems to be too general. Our goal needs to be specific so that we can focus particularly in each area of financial planning and easily to manage our own expectations. Specific goal normally has only one outcome.

For example, goal to invest RM200 per month in unit trust and accumulate at least RM2400 in a year; or spend within our budget every month. These specific goals are going to have different outcomes but when combined, they will ensure our cash flow to be healthy. When each specific goal is accomplished, we are getting nearer to financial freedom.

2) Measurable

We might be working very hard, but how do we know whether our goal is achieved? Therefore, our financial goals should be quantifiable.

For instances, we want to invest and accumulate RM50,000 in 2 years and the progress can be easily quantified by looking at our investment account statement.

In fact, we must be able to measure or review the progress of achieving the goal such as calculating our current net worth, debt-to-income ratio and reviewing, return-on-investment (ROI) and our current insurance policy. It is good if we can keep a journal and review our current planning.

3) Achievable

Many people are influenced by the ‚Law of Attraction‘ and believe that ’nothing is impossible‘. Because of this, we’re tend to set difficult goals which require great effort. However, are these goals realistic and achievable? It’s important to know whether the goal is within our potential and logical norm.

For example, if your target is to achieve RM1 million in a year by only investing RM1000 per month in any scheme. How likely can these be achieved? In fact, such investment scheme will require very high ROI within a short duration and often comes with very high risk. You might lost your capital easily.

The most importantly, we should not stretch ourselves to achieve unrealistic goals. This is to avoid frustration over failure which could ended up in great disappointment.

4) Rewarding

We want to achieve a goal because want to get something in return or else nobody will work hard. While working towards goal achievement, we must be certain on the outcome to be achieved and it’s importance to our life. In fact, it must be meaningful and enjoyable.

For example, a man wants to invest his money to accumulate education fund for his son in 20 years. In the future, this goal will be rewarding because his son will be able to enroll into higher education.

However, the rewards could be in any form such as material, financial, relationship and spiritual.

5) Time-bounded

We need adequate time to achieve our goals. It could be short-term, medium-term or long-term, depending on the type of goals to be achieved. Timeliness has been an important aspect in life. Therefore, we should allocate a time frame to avoid procrastination. It will be good if we can set a schedule for everything to be done.

For instances, saving for retirement would require many years because it is a long-term planning and involved huge sum of money. Therefore, planning for retirement in a short-term (1 to 5 years) could be unrealistic unless someone is willing to have huge commitment on this.

In brief, time is priceless because it gives chances for development and create greater outcomes. Therefore, the wise man always said, ’start early and stop procrastinating‘.

Summary

An effective financial goal would always has these SMART characteristics; Specific, Measurable, Achievable, Rewarding and Time-bounded. This is to ensure that our goals are meaningful and get us closer to financial freedom. Good luck in your goal setting.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Isaac Wong Mun Yew

Real estate investing strategies have undergone major changes in the past four years. Before the banking crisis and economic recession, many investors were generating massive profits through rehabbing distressed properties and engaging in house flipping. Today, investors are using distressed properties to generate rental income or to offer creative financing options.

The first step to achieving real estate investment success is to become educated about the market. Investors should become familiar with the various types of investment properties such as residential, commercial, and vacant land, as well as investing in real estate notes and land contracts.

Residential real estate can be used as rental properties or placed for sale. Many investors are offering creative finance strategies to attract buyers who cannot qualify for bank financing. Popular financing options include lease purchase option agreements and seller carry back mortgages.

Commercial real estate includes a wide mix of properties such as condominium and apartment complexes, retail shops, warehouses, and office buildings. Investors often partner with other investors or investment groups when purchasing commercial property in order to cover the costs and management duties required to maintain investment properties.

Commercial property has the potential to generate substantial profits as long as investors evaluate market conditions. Investors may be entitled to tax incentives when commercial investments bring employment opportunities to the area or when properties are upgraded using energy-efficient technology such as solar panels or other forms of green energy.

Investors often seek out bank owned foreclosure properties because this type of realty is usually priced well below market value. Bank owned realty encompasses all types of properties and can range from mobile homes to swanky high-rise apartments and industrial parks to golf courses.

Locating residential and commercial foreclosures is relatively simple. Using the services of a realtor can expedite the process. Agents can access the multiple listings (MLS) database to quickly locate all types of properties for sale.

Once banks repossess properties they are first placed for sale through public or government auctions. The property is given back to the bank if it goes unsold at auction. Banks then sell foreclosure properties through their loss mitigation division or local realtors.

Prices of bank owned properties are generally higher than properties sold through auction. However, banks remove liens and judgments in order to sell the real estate with a clean title. Buyers are able to take quick possession and can move forward with preparing the property for sale or rent.

Many investors are buying residential properties through Fannie Mae’s Homepath Mortgage program. In addition to selling homes at deeply discounted prices, Homepath Mortgage offers low down payment requirements and special financing options to both individual buyers and real estate investors.

Many Fannie Mae properties qualify for grant money offered through HUDs Neighborhood Stabilization Program. NSP grants are offered to improve properties located in areas with high rate of foreclosure. Qualified investors can obtain up to five NSP grants.

Investors who invest in commercial real estate must become educated about federal, state, and county property laws. Commercial buildings must comply with the Americans with Disabilities Act and be zoned for commercial use.

Although the real estate market continues to head in a downward spiral, there are still plenty of solid investment opportunities. Investors must stay abreast of market conditions and be capable of changing strategies when needed. Otherwise, they will quickly become another real estate statistic.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Simon Volkov

If you are looking to buy a holiday or second home or invest in Romania, Transylvania or at the Black Sea and you are a foreign citizen/investor, there are few aspects you should know about the procedure an the costs for the acquisition of Romanian land or Romanian houses.

After 2012, foreign citizens EU citizens (non-Romanian) may purchase a home or apartment in Romania may freely buy and sell any Romanian property, without restrictions. Along with the sell price for the property, buying real estate in Romania has other costs associated with it.

If you have chosen to collaborate with a Romanian real estate agent/ broker you can expect to have an additional commission of approximately 2-4% of the price of the property. The local tax will be 2-4% of the price of the property. The signing of a contract must be witnessed by a public notary who submits it for certification by the Land Registry in charge of real estate records. The fees for the Romanian public notary is about 0.5-1% of the purchase price. You will also have to pay fees to the Land Registry („Cartea Funciara“) to register the Transfer Deed. The Romanian Land Registry Fee for a purchase of a property will vary from 1-3% according to the length of time that the seller had owned the property and the property’s value.

The Romanian law on property states that Citizens of EU member states, legal persons incorporated in the EU member states and stateless people domiciled in an EU member state can purchase land in Romania only if the land is used for secondary residences or for secondary headquarters after a 5 (five) years term from the accession of Romania to the EU (starting with January 1st, 2012); only for the agricultural land and forest land 7 (seven) years term from the accession of Romania to the EU ( starting with January 1st, 2014).

But for the Citizens, legal persons and stateless people not from a EU member state, the Romanian legal system establishes that they can purchase land in Romania, under the conditions of international treaties between Romania and the states of origin on these persons, under a reciprocity basis.

In our point of view, a prudent investor will hire a Romanian lawyer/ a Romanian Law Office, who will liaise closely with the notary on the verification of the title, obtaining the Land Registry excerpt and the drafting of the agreement for the transfer of ownership of the real estate. This means that the Romanian lawyer will be solely acting for and is responsible to his or her client, whereas the notary will not have the same degree of responsibility to the purchaser.

Under Romanian law there are three basic rights to land and buildings such as right of ownership; usage rights as lease, usufruct, superficies; concession right. The principle of contractual liberty represents the key core of the property law in Romania.

Sometimes, an investor/purchaser can opt for closing a pre-sale agreement, by which the seller undertakes to transfer ownership to the buyer at a certain date in exchange for an agreed consideration. The content of the pre-sale contract will stipulate all commercial and legal conditions for the transfer of ownership, as conditions precedent to the final transfer of ownership. The closing of such pre-contract for purchase does not means the transfer over the property, but the stipulate binding obligations for the parties, in regard to, as example, damages or penalties set out in them, if the seller refuses to sign the final notarized deed of transfer at the agreed deadline.

The closing of the pre-sale agreement is to protect the investor/buyer from any possible purchase to other buyers and to matters regarding the fixed price and duration of a future purchase. In our point of view, it is a must that the pre-sale agreement to be concluded at a Public Notary and clearly stipulate the sale price and other clauses regarding duration of future purchase. In this case, it can be enforced in court on the buyer’s request as a deed to transfer ownership.

A sale agreement signed in Romania, according to the Romanian legislation will mandatory stipulate: obligations of the parties for the fulfillment of the sale contract, delivery and quality conditions of goods and/or services, terms, payment methods and payment guarantees, payment instruments and price insurance, contractual risk, as well as method of solving eventual litigations arising from the contract. Other required elements include the full name and identification details of the parties (for legal entities) and name of the person signing the contract (representing a legal entity).

Our team of romanian lawyers offer a wide variety of legal services in the real estate law http://www.lawyersinromania.com

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Simona Rotaru

When, someone decides, to, either buy real estate/ a house, or sell his home, he can, either, try to take care of this, himself, or hire, a quality, real estate professional, to assist him, and, hopefully, bring – about, and create the DEAL! Although, there are many advantages of hiring the right agent, for you, and your personal situation, and priorities, effectively, marketing it, and, creating, a meeting – of – the – minds, in order to bring – about the best, possible, deal, is one of the most important ones! After, over 15 years, as a Licensed Real Estate Salesperson, in the State of New York, I believe, strongly, effective representation requires the right combinations of skills, knowledge, experience, and expertise, as well as genuine empathy, and commitment! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why, it matters.

1. Delve deeply; deliver; determine; dreams: Many people strongly identify, with the so – called, American Dream, of home ownership, and the greatest agents, focus on ensuring this dream, does not become a nightmare, and everything goes smoothly, and properly, throughout the transaction period! To do so, requires, a degree of customizing, rather than, pursuing, a, one – size – fits – all, approach, and, consistently, under – promising, while over – delivering! Experience, and expertise, must help, to determine, the best pricing, marketing, and approach, to create the best, possible deal!

2. Empathy; efforts; emphasis; excellence; endurance: It’s important to effectively listen, and, consistently, learn, in order to proceed, with the utmost degree of genuine empathy! He uses his efforts, to emphasize, creating a meeting – of – the – minds, pursuing professionalism, and excellence! There are usually obstacles, along this path, so one must be ready, to proceed, with patience, and endurance!

3. Attitude; aptitude; actions; attention; align: How one aligns, a positive, can – do, attitude, with a well – developed, relevant aptitude, and skill – set, often determines, whether his actions, are as beneficial, as possible! When agent and client, work together, as a team, it permits them, to pay keen attention, and provide, extraordinary service!

4. Listen; learn; leading: A quality agent effectively listens, far – more than he speaks, so he becomes capable of learning, what his client’s goals, priorities, needs, and objectives, may be! In essence, it is a professional’s duty, to be leading, and assisting his client, to achieve quality objectives, and results!

There are thousands of real estate agents, so, a wise homeowner, or buyer, will choose, someone, who understands, the needs, and creates the DEAL! Since, for most, the value of their house, represents, their single – largest asset, doesn’t it make sense?

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Richard Brody