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The economic recession has caused the real estate industry to fall in many parts of the world. But this does not mean that the construction and housing market will not recover. The housing and construction industry will pick up eventually even as the economy picks up over time. Now, even in the midst of the economic slowdown, one can still earn some profits from the real estate market.

We do not have to invest large amounts of money into any big project. Instead, you can go into rental business. This is a good time for cash rich investors to get a hold of great investment opportunities especially when a lot of home owners need to sell their properties when they can’t make their mortgage payments. These properties will be sold at low market value which is a good investment for you.

It is a good time to add some lower than market value properties to your portfolio so that you can rent it out to those who are looking for a place to rent. In this bad economic situation, many homeowners may have sold their properties and in need of a place to rent. If you have a property in a good area, then it should be quite easy for your to get tenants and monthly income from their rental.

Of course, before you get yourself into the property industry, you still need to do some checking and research to find out more details of the areas and places to look out for. You will need to invest only in properties in areas that are high in demand and avoid places that are not so popular. Renting your property out is a profitable way to get some extra income or even to pay for your investment.

A great way to look for a reasonable below market priced property is to look for the listings in auction houses where properties are being sold at low prices. However, before you place a bid for any property in auctions, you will need to check on the property first to ensure that it is in a good area and that it is a good investment. You will want to invest in a property that is still in considerably good condition so that you don’t end up with one that has a lot of structure problems that you need to pay for repairs.

So, if you don’t want to rent out the property, you can always buy it for now and keep it till the market goes up. In the meantime, you can invest a little bit more to give it a facelift so that you can increase the value. A well-kept and nicely painted house with no defects are easier to sell at a higher price. The moment there is a demand of when the property industry goes up, you can then sell the property for a high price. For now, the real estate market may be going down but it is bound to come up again and when it does, you stand to gain some money from it.

Technorati Tags: finance, housing, investment, money, property, Real Estate, real estate leads

Viewed as one of North America’s consistently hot real estate markets, Toronto has savoured sustained growth for the past 20 years. There are still quite a few hot markets around the GTA area. When times are high, when times are low, there are always great deals in the GTA market, according to Monica I, one of Toronto’s best “people-oriented” real estate agents. (What a great attitude she has).

Monica points out a great recent online article from CMHC. CMHC Canada states that “The decline in housing starts in 2009 are because of a several factors, including the current economic climate, increased competition from the existing home market, and the impact of strong house price growth from 2002. Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year, according to Canada Mortgage and Housing Corporation’s (CMHC).

Another great online article from CMHC that Monica points out to her clients was this. CMHC Canada states that year-over-year, starts are still down. In May 2009, there were 760 starts in Atlantic Canada’s urban centres, compared to 1,094 in May 2008. In Quebec, there were 3,594, down from 4,659. In Ontario, urban starts fell to 3,665, from 6,570. Housing starts are expected to increase to 150,300 in 2010, from 141,900 in 2009, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook report. “Market activity will begin to strengthen in 2010 as the Canadian economy recovers, bringing housing starts more in line with demographic fundamentals over the forecast period,” says Bob Dugan, chief economist for CMHC.

Accomplished real estate agents constantly keep their clients interests in the fore-front of their mind, as Monica constintly researches the GTA marketplace everyday online. She remarks as a heads up, presale Toronto property undertakings are also well underway, including some high-end condominium hotels and high-rise tower residencies that will metamorphose the Toronto horizon forever. And for older homes in the GTA area, Monica states to add value, update the master suite, kitchen and bathroom to get agood return on the investmentif it is time to sell. So folks, if you are ready to get into the real estate market in Toronto, then congratulations, there are great bargains out there, especially with the interest rate at a low low rate of what 2.25% prime, if not less. Toronto, for many years was one of the hottest of the red-hot real estate markets in North America, with an % appreciation in your properties value in the double digits. When the real estate market is hot, one of the things you must keep in mind is to have a home inspection completed. And remember even if a market is hot, and you want to get into the action, always remember to go with a real estate agent whose total marketing presentation and rapport makes sense to you.

As a real estate agent, Monica can simplify your real estate search process by listening to your market and home needs. Once understanding your needs, she then utilizes cutting edge research technologies, along with contacting some of her information sources to find you the right home that matches your needs. Every since her first day in real estate, Monica strives to help Toronto home buyers and sellers make better informed decisions by providing them with informative articles and up to date MLS listings, all related to the property they wish to sell or purchase. She is a wealth of neighbourhood knowledge.

Monica points out a great recent online article from CMHC. CMHC Canada states that “The decline in housing starts in 2009 are because of a several factors, including the current economic climate, increased competition from the existing home market, and the impact of strong house price growth from 2002. Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year, according to Canada Mortgage and Housing Corporation’s (CMHC).

So folks, from among the many Toronto real estate agents out there in the market, please verify first that you like the agent that you select. If you can not see eye to eye, or you dont feel a “in-touch with your needs” chemistry bond with them, it may not work. That is why I highly recommend Monica as one of the best Toronto real estate agents that can work with. You truly get your money’s worth. Monica knows the marketplace, so you may be able to catch the next hot neighbourhood boom in Toronto before it happens. Call her.

Technorati Tags: Apartments, buying, condos, homes, Houses, property, Real Estate, real estate agent, real estate sales, toronto, toronto real estate

With the current condition of real estate, people have grown used to seeing significant drops in sales prices, but it was still shocking to hear that a New York City high-rise, originally priced at $1.74 billion, sold for approximately $600 million. Further reports stated that a mere 50% of the 1.6 million square feet of rentable space was inhabited, which may account for the substantial reduction in price.

A sale price of 65% of the original cost is enough to draw the attention of even the most cautious of investors, but those who are both careful and keen know that there is more to a good investment than a low price. A decrease of this magnitude in the span of two and a half years is an indication that something is amiss.

Just as the rest of the country is experiencing economic hardships, New York City is seeing drops in monthly rental rates and less demand for rental units. With a building that is only half full, as was this building, the investor is most certainly losing money. In the best possible scenario, the buyer would have paid cash for the property, and still the operating costs would be higher than the rental income. The bottom line is that the buyer who thought he was getting a great deal, paid $600 million on a property that will cost more to maintain than the income it will generate.

Because declines in real estate prices are so tempting, many investors find themselves in a scenario such as this. Once the property has been purchased, there are two options: fix it or sell it. Of course, selling it will result in a loss, but fixing it will require a large investment. But despite the overwhelming realization that the property is in trouble, it is often possible to rectify the situation. This will not be a simple task, but it may be worth the effort. If the goal is to rent 10% of the available space per year, the occupancy rate will increase from 50% to 95% in five years. Some of the items that must be addressed are updating the rental space and commission for leasing agents, not to mention the negative cash flow already in place.

New lessees never say the space is perfect. In weaker markets, lessees are more demanding and the lessor pays. To get to 95% physical occupancy, 360,000 square feet need to be leased. The going rate for TIs is in the area of $125 per square foot. That comes to approximately $45 million.

Leasing agents charge 6% of the rent to be collected for the length of the lease. In a weaker market it might be 5%. If the buyer could get $50 per square foot per annum with a three-year lease, that would amount to approximately $3 million in commissions paid up front.

What makes the negative cash flow fascinating is the impossibility of projecting other than losses will be large. The buyer only hopes that they are not larger than the money set aside to cover them. It will be in the millions per year. The bottom line is the buyer paid $600 million for a failing speculation. Assuming the economy cooperates and concessions aren’t a factor, what can the investor expect? Using the numbers above, and a 6% capitalization rate, the property could be worth approximately $750 million in five years. An interesting side note would be who received the leasing commissions, property management fees, insurance commissions, and capital improvement oversight fees? The real question then might be: Was it a good buy or a bad buy, and for whom?

Technorati Tags: business, capitalization rates, finance, investment, Real Estate, real estate investment

Owners often come to me when they have problems finding a tenant for their home. The problem is not always a soft market. Sometimes, the problem is what I like to call the “first impression”.

First impressions are not just important when dating, or going for a job interview. First impressions are important for a variety of activities including finding a tenant for your rental home.

First impressions are so important when it comes to showing your rental home to a prospect.

You need to remember that your house is not the only house for rent in your area. Renters have many options. You are competing against other owners for the best renters. One way to beat your competition is to have a professional attitude and to make a good first impression.

A professional attitude is what you need. A professional attitude make a great first impression because it says to your prospect that you will be able to meet their needs in a professional manner when a problem arises. But it is more than that. A professional first impression says that you are competent at what you are doing. This kind of professional attitude is what most property management companies have over owners who manage their own property.

A good first impression would be to return your prospects phone calls as quickly as humanly possible. This is a big mistake I see self managing owners make. It is a huge red flag to your prospect when they can’t reach you. The first thing they think is if it is this hard to reach you now, what is it going to be like trying to reach you when they have a problem with their air conditioning or heating or a variety of other issues. A hot lead will usually call just once, maybe twice, before giving up on you and moving on to your competition.

Always have your paperwork ready. Your rental application and rental contract should always be carried on you. A huge error is to not bring your paperwork with you and when the prospect is emotionally attached to your property and ready to fill out a rental application the worst thing you can say is, “Uh… I forgot to bring the rental application with me. I will call you back later when I find it.” This is a great way to lose a potential tenant. You will call him back later, but he will not return your call because he has called one of your competitors.

Giving off a professional first impression is key. You do this by returning potential renters calls as fast as you can. Make the potential renter feel important. When you show your rental house, make sure you are wearing professional looking clothes. Make sure you are organized. Have your renters application and rental agreement with you.

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Capitol Hill Lawmakers has recently passed a bill to assist families with avoiding Houston foreclosures. The bill will allow homeowners to refinance their current loans and re-mortgage the loans to other loans that are backed by the government. Some of the homeowners in Houston are currently taking the steps to prevent their property from becoming another of Houstons long list of foreclosed property.

It is a sensible step for homeowners, since the economy is uncertain. With the economy, the way it is and the interest rates, fallen people are looking every day for Houston foreclosures. Some people however are renting some of their living space to others to save their home. Despite of the efforts the economy is suffering and the debt market rates are increasing, which is making it difficult for homeowners to repay their mortgage.

Our economy is suffering dramatically because of the greed that is surfacing. Bills are increasing, which is making it difficult for people to stay erect. Thus, people in Houston have to rent some of their living space just to make ends meet.

Nationally, people are renting some of their living quarters as well just to make ends meet and to avoid going on the foreclosure list. Some homeowners however do not have the option to rent space. Some of the newer areas will not allow homeowners to rent to others, since the deed they had signed prohibited this option. What do these people do to avoid foreclosure?

Many of them lose their homes because their options are limited, which is why we see a long list of foreclosed property in Houston. Houston is located at the southeastern parts of Texas and it is the seat of Harris County. It is located at the head of the Houston Ship Channel, which links the city to the Gulf of Mexico. The inland seaports are where the chief financial, manufacturing centers and distribution is seated for the United States. Texas was one of the largest cities in Texas and the fourth largest in the United States. People believe that everything is big in Texas so they migrate there to enjoy the new style of living. With cowboys and girls, they join. If you are looking Houston foreclosures now is the time to get started. Buying homes for 20 to 40 percent at discounted prices is no big thing in Houston Texas.

Technorati Tags: finance, foreclosure listings, Foreclosures, home listings, Investing, investment, Real Estate

Everyone has an idea of what their dream home would look like. Purchasing or a building a new home is an exciting time as well as an important life investment. When people search for their dream home, they are often too involved in finding the best home for them that they often forget about the location. A dream home is often associated with the dream location. If you are happy with the home, but unhappy with the location, you may discover that it is not the dream that you imagined.

When you are looking for a dream home, people will focus on important home features such as the home design, floor plans, number of bedrooms and bathrooms, the size of the rooms and closets, and other special features such as lighting and wiring. All of these attributes are important to meet your specific tastes and requirements. However, the location attributes are an important consideration.

The following list outlines important considerations when choosing your dream location:

Property Needs: If you are building your dream home, you have to make sure you are set up for utilities and extras such as internet, sewer, water, and modern wiring. You also have to make sure the property is large enough for further additions such as sheds, garage, garden, pool, gazebo, etc. You want to make sure that the land meets your current and future needs. Taking your property needs into consideration will make it easier to find an ideal location.

Neighborhood: Just because you find a home that meets all your requirements, it does not mean the neighborhood is suitable for your needs. You need to research the location of schools, playgrounds, shopping centers, supermarkets, hospitals, community activity services such as gyms and fitness centers, and the distance to your workplace. If you are unable to travel long distances everyday, you may want a home close to all the amenities. If you find a home that has a neighborhood homeowners association, you should check their rules in case you are prohibited from doing something on your property. This could include banning fences, certain house colors, etc.

The View and Setting: Are you looking for either an urban setting with lots of traffic and people on the streets, an ocean front view, or a more rural location with lots of natural trees and lakes? Your home may be beautiful, but if you are not living in the environment you have been dreaming about, you may become unhappy with your home. Make sure you check the zoning laws for the area.

Accessibility: Are you looking for a private area that is far away from major highways, or an area that is handy to interstates and roads? Your daily drive is an important consideration.

Safety Considerations: It is important to find out if the area is at a high risk for such natural problems as floods hurricanes, tornadoes, and termite infestations. This may affect your insurance premiums. You should see what the crime rate is like as you may require special security equipment.

When searching for our dream home, we all have a picture in our minds of what it will look like. It is important to expand your considerations to include your dream location. Make sure the location is a place that you and your family will like. By considering both a dream home and dream location, you will definitely improve your chances of getting the home that meets all of your dreams.

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One of the more popular outdoor lighting sources for homeowners and landscape designers is the outdoor candle lantern. The reason they are so popular is that they are easy to install and are not expensive. This makes people want to buy and install them so naturally they may have questions about the lanterns they are looking to buy.

Candle lanterns can be found at pretty much any local hardware or home improvement store. The problem with looking for them there is that these stores can only buy and display so much inventory at one time. With this in mind your best chance to snag the right candle lanterns for your backyard are via the internet.

One thing you will need to make sure when you buy a candle lantern is to make sure the holder is sound. The candle holder is the portion of the lantern that supports the candle and allows the rest of the lantern to be constructed around it. The candle holders, and therefore the lanterns themselves, are typically constructed of metal.

Candle lanterns come in all different designs. These designs range from a rustic, old west type of lantern to one that resembles a lantern that may be used in Asia or the Middle East.

Rustic lanterns harken back to the days of the Old West when our ancestors conquered the American West. These lanterns are made of metal with a bulbous glass side and can either be hung or placed on a flat surface.

Pagoda lanterns are the perfect choice if you are planning an asian party or an asian design for your backyard. The pagoda lanterns are typically multisided with cutout panels that allow the light to shine through.

If you wanted to go with a middle eastern theme for your backyard, a Moroccan lantern is also a good choice. These lanterns are hexagonal in shape and each side is comprised of a thick, colored glass.

Whatever style you choose is entirely up to you and your preferences. With so many styles and designs to choose from, what are you waiting for?

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Foreclosure home auction can help you in getting a big house at a low cost and can also help you make a lot of money of them. These houses will not be the brand new ones, these are the houses which have been bought by people earlier but could not keep with them due to financial difficulties. These houses are then sold in the open market, so that the financial institution that is foreclosing them can get their money that they invested in the property initially.

These properties have a lot of benefits attached to them. And being at a foreclosure home auction can help you a great deal in getting what you have been looking for:

Value for money: you can get these properties at a very low cost. No doubt you might have to spend money to make it worth living as they will not be in the best condition. However, irrespective of that you would still be able to save a lot as compared while buying a property from the market which is in the best condition. A little hard work and time can save you a lot.

Investment opportunity: if you plan on buying these properties, then you can also term the decision of buying them as a great investment opportunity. The only difference is that when you invest in shares or debentures, you know for (approximately) how long you would be blocking the money and how much would you get in return. Whereas when you invest in these properties, you are not aware, when you would be able to sell the property and how much would you get out of them. If you are not happy with the prevailing market prices than you can wait a little longer so that the market takes a hike and you get the price you where looking for.

Pay less: you can get these properties at a discount. If say you can get a property for $75,000 in the market under normal circumstances, then you might be able to get the same property at $60,000 at Foreclosure home auction, spend around $5,000 on the renovation and sell it in the market at the normal market price for profit.

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If your home is on the verge of foreclosure or you fear the chance of it, you certainly will do any possible means to save it. But the problem is how you will do it? The first step, is going to your lender and asking for help. DO NOT OVER LOOK THIS OPTION!

If contacting your lender at the first sign of financial problems seems to be not so good of an idea. It may be because you are embarrassed to discuss money issues to others or you simply don’t see the need to inform your lender right away of your present financial standing. But the truth is, asking for your lender’s help will save you a lot of trouble and it will could help you save your home.

People often have the perception that lenders, like banks, think only of themselves and don’t care about the future of the borrowers. This leads to the common notion that lenders show no mercy to homeowners who have defaulted on payments and will take the homes when the very first window of opportunity opens. The truth is lenders like owners will do everything they can to avoid home foreclosures. So again, the best way to save your home is to work with your lender to solve the problem.

If you miss payments for 3 consecutive months normally the lenders usually send a Notice of Default. However if you know your in trouble DO NOT wait until you get the notice to take action. Call your lender as soon as possible. Inform them of your reason of default on a payment and ask for an alternative payment schedule or temporary lower rates until your finances have recovered. You can also ask for Forbearance where your lender waives some of the penalty fees as a result of default or a mortgage refinance without going through the process of re-application. Mortgage lenders are more than willing to help you to avoid repossessing your home.

Talk to your lender, inform them of the situation, and ask for payment alternatives. Don’t wait too long before you make a move to save your home. Act fast. Understand the gravity of the situation and do something. It is your obligation to pay your mortgage but when worst comes to worst, your lender will help you keep your home. This is more true during economic downturn.

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