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real estate

Commentary

Grow Your Real Estate Network; Get Involved Locally

by Justin Pierce | November 8, 2009
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I cringe to even think of writing this post, peppered with politics, but we just had an election for a Governor here in Virginia and it raises a few points that I think investors (well any businessman or woman) should keep in mind. Don’t worry, we’re not talking party politics, but local political involvement.
Put [...]

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Financing Real Estate

Is Fannie Mae Killing the Golden Goose?

by Florence Foote | November 3, 2009
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One study of mortgages during the Great Depression found that almost half of urban, owner-occupied homes (on which there was a mortgage) were in default by 1934. The government’s answer was to sponsor the creation of Fannie Mae in 1938 (or as it is really called, the Federal National Mortgage Association), which was, and [...]

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Commercial Real Estate

Apartment Vacancy Rate Hits Its Highest Point In Nearly 25 Years

by Christina Inman | November 2, 2009

In what is an interesting phenomenon, apartment vacancies have hit their highest point since 1986 in cities across the country. 
According to Reis Inc., a New York real-estate research firm that tracks vacancies and rents in the top 79 U.S. markets, the vacancy rate reached 7.8% this summer, which is normally a strong period for rentals. [...]

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Real Estate Marketing

Relationships Matter: Lessons from Across the Date Line

by Molly Castelazo | October 30, 2009
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I just got back from a week in China — for business mostly, plus some tourist time at the Great Wall, the Summer Palace, the Forbidden City, and wandering the hutongs (traditional neighborhood alleyways) of Beijing.  I saw firsthand what I had earlier only read about — the importance of relationships in China.  It got [...]

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Real Estate

Using Leverage to Sell More and Take Your Business to the Next Level

by Christian Russell | October 29, 2009

Why are you in business? It’s an important question. Perhaps the ultimate question! A mentor of mine taught me a long time ago that knowing “why” is one of the most important things when it comes to getting positive results long term in your business.

Are you in business to make money?
Are you in business [...]

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Commentary

Real Estate Fiasco Seems To Foreclose On Critical Thinking

by Charles Feldman | October 28, 2009
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Think.
That is one word I grant you. But, sadly, something fewer and fewer people seem to be doing when it comes to critical analysis of the near term prospects for the real estate market in the U.S. (And, yes, I know the real estate “market” is a patchwork of many markets dotted across the foreclosed [...]

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Real Estate Marketing

One Killer Creative Idea for Marketing Just About Anything to Just About Anyone in Real Estate

by Ben Roberts | October 28, 2009
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I think we’ve all heard about  Shadow Inventories, the Coming Foreclosure Wave, and the poor health of the real estate market in general lately.  If you haven’t, I’d wonder about your status as a member of the human race.  For the rest of us as investors, agents, and marketers.. we’re all trying to figure out [...]

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Real Estate Investing

Residential Land Development – Part 3: Zoning, Design and Financing

by Craig Grella | October 23, 2009

To recap Residential Land Development Part 2, we discussed the importance of performing an economic feasibility study with cost estimating to determine a max price land offer and whether or not there is enough profit in your potential deal to warrant spending more time on it, or actually developing the land.

Assuming you’ve done that initial research and arrived at the conclusion your numbers look good, you’re ready to go back and do it all over again. This time you’re going to be more exact with your numbers. To do that, you’ll really need to hone in on the potential design of your house, and to do that you need to research what’s possible on your lot. You do that by learning all you can about the zoning codes in your city. These are the third and fourth steps in the residential land development process.

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Commentary

A Quiz You Can’t Fail: How Will You Make Money in Real Estate

by Tom Koziol | October 23, 2009

As everyone knows, the real estate market is in the tank – at least that is the overall perception. On the other hand, we all have heard that there are people who are still making money in real estate. At least they say they are.

If it is true that people are making money, here is a quiz that should be a no brainer. By the way, this quiz won’t be graded. Not by me at least. You may decide to give yourself a grade just for grins.

The Setting

Lets say you live in a housing market that has been described by a national real estate forecast service as the country’s “weakest housing market.” It is projected to have the biggest decline in value in the next 12 months among all housing markets in the nation with a 12 percent median price dip for both new and existing single-family homes.

In making its determination, the forecast service looked at 260 metro areas using more than 50 variables, including housing supply, population trends, unemployment and inflation. And, speaking of unemployment, your area has just seen a full one percent spike upward.

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Real Estate Investing

Is Active or Passive Investing Right for You?

by Ryan Moeller | October 20, 2009

There are a lot of skills needed to become a savvy and successful real estate investor. Do you enjoy the challenge, have the time and/or have the comfort with the knowledge and skill needed to be a success? Are you comfortable with investments backed by real estate but do not want to deal with the hassles and time? Here are some of the skills and questions you must ask yourself to find out if active or passive real estate is right for you.

1. Are you a people person – Networking, sales, relationships – Real estate is a relationship business. Investors network, build relationships and are constantly selling themselves. The best investors often seem to be the ones who are well liked and good with people.

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Credit

Borrowers Should Be Aware of the Effects Foreclosures, Bankruptcies and Shorts Sales Will Have on Their Credit

by Christina Inman | October 19, 2009

fannie maeFor homeowners facing foreclosure or bankruptcy–or considering a short sale of their property to avoid one or both–the effect the action will have on their credit is undoubtedly a huge concern. Though keeping their homes might not be an option at this point, there could very well be another one in the not-too-distant future, so knowing when they’ll be eligible to qualify for another mortgage is important.

Be Aware of the Rules of the Road

Earlier this year, Fannie Mae updated its credit guidelines for borrowers who experience one of these circumstances. And, in general, the wait time will now range from two to five years.

Homeowners who lose their properties to foreclosure or file multiple bankruptcies within a seven-year period will have the longest wait–five years.

In the case of foreclosure, additional requirements and restrictions will apply after five years and up to seven years as well, which include making a minimum 10% down-payment, having a credit score of at least 680, and having limited cash-out refinance options. Also, the purchase of second homes or investment properties is not permitted.

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Real Estate

Las Vegas’ Biggest Cheerleader

by Richard Warren | October 19, 2009

I had the opportunity to speak with the Mayor of Las Vegas, Oscar Goodman, a few nights ago. He was the featured speaker at the monthly meeting of the Real Estate Insiders Club. In an era of much pessimism about the Las Vegas real estate market, Mayor Goodman is the voice of unbridled optimism. It was a refreshing change.

Mayor Oscar GoodmanThe meeting was held on the 24th floor of the Newport Lofts high-rise condominium in downtown Las Vegas. With breathtaking views of the Las Vegas strip as a backdrop, Mayor Goodman gushed about what the future holds for the City of Las Vegas. While one would expect any incumbent politician to exude optimism, Mayor Goodman could back it up with facts and accomplishments.

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Real Estate Investing

Investing in Real Estate Overseas: The Really Big Leap

by Brendan O'Brien | October 17, 2009

English: Illuminatable Earth globe, Columbus, ...A couple of years ago, I was talking to a customer for my property management software who was based in Ulan Bator, Mongolia. “Mongolia!” I said. “Holy cow! Why are you investing out there?”

My customer wasn’t from Mongolia, and he wasn’t particularly concerned with the fascinating and exotic nature of the country, although he appreciated it. (Mongolia once controlled almost all of Asia, and was ruled by colorful figures such as Genghis Kahn.) No, he was in Mongolia to make a profit.

I thought of my Mongolia friend the other day when I saw another real estate pundit talking up the virtues of Cyprus and Spain. Does it really make sense to invest overseas? Does it make more sense now than a few years back?

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Commentary

Dolphins And Real Estate

by Tom Koziol | October 16, 2009

Let me pass along a story that has extreme relevance to our current real estate picture. It involves dolphins in the Gulf of Mexico and their feeding by well meaning – although some would say misguided – people called tourists.

This story was relayed to me by a friend who used to vacation in Mexico and enjoyed boating in the Gulf. He said that a few years ago dolphins would swim up beside the boat and almost leap in to get their free meal. It seems feeding the dolphins became the thing to do.

The last time he went out he noticed not a single dolphin would swim up to the boat. Being the curious type, he wondered what had changed.

When he pulled back onto shore, he asked the locals why the dolphins wouldn’t approach his boat. The answer totally stunned him. He was told the government had outlawed feeding dolphins and included a $10,000 fine for anyone caught feeding the dolphin.

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Land & Farm Investing

Residential Land Development – Part 2: Determining Economic Feasibility

by Craig Grella | October 16, 2009

This is Part 2 in the Residential Land Development series showing you how to find, price, and develop land for residential single family property.

If you’ve followed Residential Land Development Part 1 you’ve put together your development team, done a little research into the type of property you want to build and the market you will farm for potential land purchases. You’ve determined the highest and best use, researched zoning and other legal matters, and now need to determine the economic feasibility of the project. We do this by estimating the overall costs of the project. The results of your down and dirty, quick economic feasibility analysis will determine whether you move forward with your project, or whether you dump it and move on to the next piece of land. Here’s what you’ll do:

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