February 21st, 2011 We are living in a world where cost cutting is the main agenda in most of the companies. Many managers wonder why they need to buy expensive IT equipment while their business has nothing to do with the IT services. That is why some of the biggest companies are outsourcing it services. There are things that things that you should bear in mind if you want to effectively outsource these services. It might seem like outsourcing of it services is a lengthy process but you will be surprised to find out that it is very simple to outsource these services. Simply follow the points listed below and you will be on the right track.
Determining the return on investment should be the first thing to consider. If outsourcing of it services fails to save you costs, then it would be wise to consider other alternatives. However you can be assured that outsourcing these services will save you costs in terms of the IT equipment and the employees. Outsourcing of it services allows the company to focus on other functions of the business.
Contacting an IT outsourcing company should be the next thing on your list. If you are not sure of the company to contact, check the reviews on the internet or seek the advice of a company that has outsourced these services to a particular company. If you want to save even more costs, you can outsource the IT services to offshore companies. Once you decide the best company for your outsourcing of it services needs, you should invite them to your website in order to conduct the IT needs of your company. They will be in a position to suggest improvements of your website or build a new website all together.
These are the main things to consider when outsourcing of it services. If you want offshore IT outsourcing companies, you need to know the best place to outsource to. India has the largest number of IT outsourcing companies. The cost of their services is also not as high as the cost of the same services in a first world country. This is the main reason as to why very many companies are outsourcing their IT services to India. The other option is the Philippines. You can also outsource the services to this country as well. In both cases you can be assured that you will be getting the best services.
Daven Michaels Author of the book Outsource This!
28 February 2011
Florida's January home sales jump 14 percent
The sales of both existing homes and existing condos throughout Florida rose in January, according to the latest housing data released by Florida REALTORS®. Existing home sales increased 14 percent last month with a total of 12,151 homes sold statewide compared to 10,702 homes sold in January 2010, according to Florida REALTORS®. January's statewide sales of existing condos rose 36 percent compared to the previous year's sales figure.
Seventeen of Florida's metropolitan statistical areas (MSAs) reported increased existing home sales in January; 16 MSAs had higher condo sales.
Florida's median sales price for existing homes last month was $122,200; a year ago, it was $131,000 for a 7 percent decrease.
In Florida's year-to-year comparison for condos, 6,681 units sold statewide last month compared to 4,916 units in January 2010 for an increase of 36 percent. The statewide existing condo median sales price last month was $79,400; in January 2010 it was $97,000 for an 18 percent decrease.
Seventeen of Florida's metropolitan statistical areas (MSAs) reported increased existing home sales in January; 16 MSAs had higher condo sales.
Florida's median sales price for existing homes last month was $122,200; a year ago, it was $131,000 for a 7 percent decrease.
In Florida's year-to-year comparison for condos, 6,681 units sold statewide last month compared to 4,916 units in January 2010 for an increase of 36 percent. The statewide existing condo median sales price last month was $79,400; in January 2010 it was $97,000 for an 18 percent decrease.
National sales stay on upward path
The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, according to the National Association of REALTORS®.
Existing-home increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier.
Lawrence Yun, NAR chief economist, says the improvement is good but could be better. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” Yun says. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”
A parallel NAR practitioner survey shows first-time buyers purchased 29 percent of homes in January, down from 33 percent in December and 40 percent in January 2010 when an extended tax credit was in place.
Investors accounted for 23 percent of purchases in January, up from 20 percent in December and 17 percent in January 2010; the balance of sales was to repeat buyers. All-cash sales rose to 32 percent in January from 29 percent in December and 26 percent in January 2010.
“Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes,” Yun says.
All-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15 percent of the market. The average of all-cash deals was 20 percent in 2009, rising to 28 percent last year.
The national median existing-home price for all housing types was $158,800 in January, down 3.7 percent from January 2010. Distressed homes edged up to a 37 percent market share in January from 36 percent in December; it was 38 percent in January 2010.
NAR President Ron Phipps says the median price is being dampened by unusual market factors. “Unprecedented levels of all-cash purchases, primarily of distressed homes sold at deep discounts, undoubtedly pulls the median price downward,” Phipps says. “Given the levels of inventory we see today, we believe that traditional homes in good condition have held their value.”
Total housing inventory at the end of January fell 5.1 percent to 3.38 million existing homes available for sale, which represents a 7.6-month supply at the current sales pace, down from an 8.2-month supply in December. The inventory supply is at the lowest level since December 2009 when there was a 7.3-month supply.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.76 percent in January from 4.71 percent in December; the rate was 5.03 percent in January 2010.
Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.69 million in January from 4.58 million in December, and are 4.9 percent higher than the 4.47 million level in January 2010. The median existing single-family home price was $159,400 in January, down 2.7 percent from a year ago.
Existing condominium and co-op sales increased 4.7 percent to a seasonally adjusted annual rate of 670,000 in January from 640,000 in December, and are 7.9 percent above the 621,000-unit pace one year ago. The median existing condo price5 was $154,900 in January, which is 10.2 percent below January 2010.
Regionally, existing-home sales in the Northeast fell 4.6 percent to an annual pace of 830,000 in January from a spike in December and are 1.2 percent below January 2010. The median price in the Northeast was $236,500, which is 4.0 percent below a year ago.
Existing-home sales in the Midwest rose 1.8 percent in January to a level of 1.14 million and are 3.6 percent above a year ago. The median price in the Midwest was $126,300, which is 3.2 percent below January 2010.
In the South, existing-home sales increased 3.6 percent to an annual pace of 2.02 million in January and are 8.0 percent higher than January 2010. The median price in the South was $136,600, down 2.1 percent from a year ago.
Existing-home sales in the West rose 7.9 percent to an annual level of 1.37 million in January and are 7.0 percent above January 2010. The median price in the West was $193,200, down 5.7 percent from a year ago.
Existing-home increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier.
Lawrence Yun, NAR chief economist, says the improvement is good but could be better. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” Yun says. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”
A parallel NAR practitioner survey shows first-time buyers purchased 29 percent of homes in January, down from 33 percent in December and 40 percent in January 2010 when an extended tax credit was in place.
Investors accounted for 23 percent of purchases in January, up from 20 percent in December and 17 percent in January 2010; the balance of sales was to repeat buyers. All-cash sales rose to 32 percent in January from 29 percent in December and 26 percent in January 2010.
“Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes,” Yun says.
All-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15 percent of the market. The average of all-cash deals was 20 percent in 2009, rising to 28 percent last year.
The national median existing-home price for all housing types was $158,800 in January, down 3.7 percent from January 2010. Distressed homes edged up to a 37 percent market share in January from 36 percent in December; it was 38 percent in January 2010.
NAR President Ron Phipps says the median price is being dampened by unusual market factors. “Unprecedented levels of all-cash purchases, primarily of distressed homes sold at deep discounts, undoubtedly pulls the median price downward,” Phipps says. “Given the levels of inventory we see today, we believe that traditional homes in good condition have held their value.”
Total housing inventory at the end of January fell 5.1 percent to 3.38 million existing homes available for sale, which represents a 7.6-month supply at the current sales pace, down from an 8.2-month supply in December. The inventory supply is at the lowest level since December 2009 when there was a 7.3-month supply.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.76 percent in January from 4.71 percent in December; the rate was 5.03 percent in January 2010.
Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.69 million in January from 4.58 million in December, and are 4.9 percent higher than the 4.47 million level in January 2010. The median existing single-family home price was $159,400 in January, down 2.7 percent from a year ago.
Existing condominium and co-op sales increased 4.7 percent to a seasonally adjusted annual rate of 670,000 in January from 640,000 in December, and are 7.9 percent above the 621,000-unit pace one year ago. The median existing condo price5 was $154,900 in January, which is 10.2 percent below January 2010.
Regionally, existing-home sales in the Northeast fell 4.6 percent to an annual pace of 830,000 in January from a spike in December and are 1.2 percent below January 2010. The median price in the Northeast was $236,500, which is 4.0 percent below a year ago.
Existing-home sales in the Midwest rose 1.8 percent in January to a level of 1.14 million and are 3.6 percent above a year ago. The median price in the Midwest was $126,300, which is 3.2 percent below January 2010.
In the South, existing-home sales increased 3.6 percent to an annual pace of 2.02 million in January and are 8.0 percent higher than January 2010. The median price in the South was $136,600, down 2.1 percent from a year ago.
Existing-home sales in the West rose 7.9 percent to an annual level of 1.37 million in January and are 7.0 percent above January 2010. The median price in the West was $193,200, down 5.7 percent from a year ago.
Why You Need To Continue To Market Your Property
As Benjamin Franklin once very aptly noted:
“There is nothing certain in this life, save for death and taxes.”
Given the significant downturn that the US economy has taken in recent times as a result of the global recession and credit crunch, this has meant that unemployment levels have shot up, and more and more people are either bankrupt, facing bankruptcy or are out of work. In addition, the average credit rating has diminished which means that people find it harder than ever before to secure financial support from commercial lenders.
Because of their lack of money, both in terms of personal savings alongside their eligibility for loans, this means that the number of people who are able and willing to purchase property is at an all-time low. Indeed, many people are now having to cannibalize their pensions and saving accounts in an attempt to stem the ever increasing tide of debt that looms over them menacingly and threatens to engulf them entirely.
In these financial turbulent times, it is every man for himself and so the average purchaser is not going to lose much sleep over the idea that they let down a seller who they were going to purchase a home from.
Therefore, it is imperative that if you are selling your property that you keep your options open and are prepared to relist your property in the event that the transaction should fall through. Gazumping, as unpleasant and frustrating an act as it is, can never be truly contained or controlled, and when the economy is in distress, the temptation to perform gazumping rises in turn.
However, so far we have considered the worst case scenario for a seller, i.e. where they have a property for sale but they are unable to conclude and finalize the deal because the purchaser withdraws from the transaction due to financial constraints. The seller may actually receive an offer from a more qualified buyer, i.e. someone who is able to meet the full balance of the asking price in cash and immediately as opposed to an undecided purchaser who is trying to secure a loan from a bank.
By leaving the property listed on the open market, the seller will not only protect themselves from disappointment (not to mention loss) in the event that the current purchaser should withdraw, they can also potentially make more money. For example, a seller may have a property that is in a prime location with plenty of access to educational facilities which renders the property especially desirable to a couple who either have children or who are trying to conceive. Such a purchaser maybe more willing to pay above market value of the property in order to secure the property of their dreams, and this in turn means greater security, more money, not to mention peace of mind for the seller.
Never take anything for granted, especially when it comes to something as potentially lucrative as real estate
Thursday, January 27, 2011, 3:22:01 PM
Dave Lindahl
“There is nothing certain in this life, save for death and taxes.”
Given the significant downturn that the US economy has taken in recent times as a result of the global recession and credit crunch, this has meant that unemployment levels have shot up, and more and more people are either bankrupt, facing bankruptcy or are out of work. In addition, the average credit rating has diminished which means that people find it harder than ever before to secure financial support from commercial lenders.
Because of their lack of money, both in terms of personal savings alongside their eligibility for loans, this means that the number of people who are able and willing to purchase property is at an all-time low. Indeed, many people are now having to cannibalize their pensions and saving accounts in an attempt to stem the ever increasing tide of debt that looms over them menacingly and threatens to engulf them entirely.
In these financial turbulent times, it is every man for himself and so the average purchaser is not going to lose much sleep over the idea that they let down a seller who they were going to purchase a home from.
Therefore, it is imperative that if you are selling your property that you keep your options open and are prepared to relist your property in the event that the transaction should fall through. Gazumping, as unpleasant and frustrating an act as it is, can never be truly contained or controlled, and when the economy is in distress, the temptation to perform gazumping rises in turn.
However, so far we have considered the worst case scenario for a seller, i.e. where they have a property for sale but they are unable to conclude and finalize the deal because the purchaser withdraws from the transaction due to financial constraints. The seller may actually receive an offer from a more qualified buyer, i.e. someone who is able to meet the full balance of the asking price in cash and immediately as opposed to an undecided purchaser who is trying to secure a loan from a bank.
By leaving the property listed on the open market, the seller will not only protect themselves from disappointment (not to mention loss) in the event that the current purchaser should withdraw, they can also potentially make more money. For example, a seller may have a property that is in a prime location with plenty of access to educational facilities which renders the property especially desirable to a couple who either have children or who are trying to conceive. Such a purchaser maybe more willing to pay above market value of the property in order to secure the property of their dreams, and this in turn means greater security, more money, not to mention peace of mind for the seller.
Never take anything for granted, especially when it comes to something as potentially lucrative as real estate
Thursday, January 27, 2011, 3:22:01 PM
Dave Lindahl
The Safe Island Technique When Talking to a Seller
When you are talking to a seller of a property, trying to get the best deal from them, you should inevitable gear up for a lot of questions. You are, after all, the buyer of property. As such, it is good if you get to know as much about the property as possible. This is where you can use the Safe Island Technique, which was popularized by an internationally famous speaker named Floyd Wickman. So, what is this Safe Island Technique all about and how does it help you in your selling process?
The Safe Island Technique is a way of getting to know everything in advance. This is wonderfully put into use by doctors. When they are performing any procedure on a patient, they continuously keep telling the patient what’s happening and what’s going to happen next. This removes the suspense from the daunting scary procedure and makes it not-so scary anymore.
This is what the Safe Island Technique is all about. When applied to the real estate selling process, it employs asking a lot of questions to the seller so that you know what is going to happen next.
Why does this become a good technique for handling real estate property investigations? The main factor here is that it removes the stress out. When you know what’s coming next, what part of the procedure is the next in line, then you aren’t unduly worried about what you will have to do next. It also helps put the sellers themselves at ease.
When you are going to see a property, you can make things easier on them by using this technique. For instance, you can tell them that you would like to ask some general questions about the property first. Then you would like them to show you the property. You would like them to tell you what you need to know. Like, tell you about the number of rooms in the house, the amenities and features available, the windows that open to the east, any potential problems and so on. This helps you make a proper judgment about what you would like to ask more about the property.
Then you tell them that you would like to sit down and discuss more about the property. This would be a talk about the price, and negotiations about the property could come in. you can tell them that you would like to bring in an assessor or inspector to professionally look over the property and give his or her opinion about it.
So, in short, the Safe Island Technique is a way of “guiding” the seller through the entire process. They are relaxed about what they are doing, because you have laid out to them what exactly they are supposed to do. There are no surprises waiting to be sprung, either on them or on you, and that makes the whole process become quite a streamlined process for both parties involved in the real estate selling process.
Thursday, January 13, 2011, 4:15:47 PM
David Lindahl
The Safe Island Technique is a way of getting to know everything in advance. This is wonderfully put into use by doctors. When they are performing any procedure on a patient, they continuously keep telling the patient what’s happening and what’s going to happen next. This removes the suspense from the daunting scary procedure and makes it not-so scary anymore.
This is what the Safe Island Technique is all about. When applied to the real estate selling process, it employs asking a lot of questions to the seller so that you know what is going to happen next.
Why does this become a good technique for handling real estate property investigations? The main factor here is that it removes the stress out. When you know what’s coming next, what part of the procedure is the next in line, then you aren’t unduly worried about what you will have to do next. It also helps put the sellers themselves at ease.
When you are going to see a property, you can make things easier on them by using this technique. For instance, you can tell them that you would like to ask some general questions about the property first. Then you would like them to show you the property. You would like them to tell you what you need to know. Like, tell you about the number of rooms in the house, the amenities and features available, the windows that open to the east, any potential problems and so on. This helps you make a proper judgment about what you would like to ask more about the property.
Then you tell them that you would like to sit down and discuss more about the property. This would be a talk about the price, and negotiations about the property could come in. you can tell them that you would like to bring in an assessor or inspector to professionally look over the property and give his or her opinion about it.
So, in short, the Safe Island Technique is a way of “guiding” the seller through the entire process. They are relaxed about what they are doing, because you have laid out to them what exactly they are supposed to do. There are no surprises waiting to be sprung, either on them or on you, and that makes the whole process become quite a streamlined process for both parties involved in the real estate selling process.
Thursday, January 13, 2011, 4:15:47 PM
David Lindahl
Heart of Central Florida: Downtown Orlando
Downtown Orlando is the historic center and central business district of Orlando, Florida, United States. It is known as economic heart of central Florida. It is bordered by East Marks St in north, Mills Ave in east, Orange Blossom Trail in the west and the Kaley Ave in south. There are five enclaves in downtown-
Uptown in north around lake Ivanhoe.
Uptown Place was built in 2002, located in Downtown Orlando, Walk to Lake Ivanhoe. You will love the hotel-like amenities that Uptown Place has to offer- From the tropical pool setting, to the billiards room great for parties and social gatherings. 24 hour security and covered indoor parking help make Uptown Place the premier address in Downtown.
Lake Eola Heights
Eola Heights are the historic neighborhood located within the heart of downtown, Orlando, Florida. Shady tree-lined streets cover this residential area just block from lake Eola Park and the hub of the down town. Thornton park and south Eola district are both a short walk away with great retail and dining experience.
Thornton Park in the east around lake Eola Park
Thornton Park is located east of Lake Eola and boasts a diverse commercial district, scenic historic neighborhoods, brick-paved streets, and residents enjoy easy access to the Downtown Orlando Business District and nightlife scene.
Parramore in the west
The area is located is just west west of the central business district. The area was once a thriving neighborhood but through years of neglect, crime and a haven for the homeless it suffered economically and historically. It is significantly residential, with a large number of high intensity entertainment and office institutions.
Central Business District
The central business district is the most recognized and urban region of downtown. It consists mostly of high-rises with an occasional skyscraper and contain many night clubs and bars.
Over view
Downtown Orlando is the economic heart of central Florida. It is home to residential and commercial towers, local and state government offices, sports facilities, performing arts theaters, art galleries, a movie theater, retail, nightclubs, and parks. Downtown is removed from the tourist areas located in the southern half of the city; but does draw a significant number of visitors seeking to experience the "Real Orlando". It is also the location of numerous festivals, parades, political Demonstrations and other high- profile events year-round. Apartments and condos are available on rent in Downtown, Orlando, Florida.
By Alin Joseph
Article Source: http://EzineArticles.com/?expert=Alin_Joseph
Uptown in north around lake Ivanhoe.
Uptown Place was built in 2002, located in Downtown Orlando, Walk to Lake Ivanhoe. You will love the hotel-like amenities that Uptown Place has to offer- From the tropical pool setting, to the billiards room great for parties and social gatherings. 24 hour security and covered indoor parking help make Uptown Place the premier address in Downtown.
Lake Eola Heights
Eola Heights are the historic neighborhood located within the heart of downtown, Orlando, Florida. Shady tree-lined streets cover this residential area just block from lake Eola Park and the hub of the down town. Thornton park and south Eola district are both a short walk away with great retail and dining experience.
Thornton Park in the east around lake Eola Park
Thornton Park is located east of Lake Eola and boasts a diverse commercial district, scenic historic neighborhoods, brick-paved streets, and residents enjoy easy access to the Downtown Orlando Business District and nightlife scene.
Parramore in the west
The area is located is just west west of the central business district. The area was once a thriving neighborhood but through years of neglect, crime and a haven for the homeless it suffered economically and historically. It is significantly residential, with a large number of high intensity entertainment and office institutions.
Central Business District
The central business district is the most recognized and urban region of downtown. It consists mostly of high-rises with an occasional skyscraper and contain many night clubs and bars.
Over view
Downtown Orlando is the economic heart of central Florida. It is home to residential and commercial towers, local and state government offices, sports facilities, performing arts theaters, art galleries, a movie theater, retail, nightclubs, and parks. Downtown is removed from the tourist areas located in the southern half of the city; but does draw a significant number of visitors seeking to experience the "Real Orlando". It is also the location of numerous festivals, parades, political Demonstrations and other high- profile events year-round. Apartments and condos are available on rent in Downtown, Orlando, Florida.
By Alin Joseph
Article Source: http://EzineArticles.com/?expert=Alin_Joseph
A Focus on Downtown Orlando Real Estate
Downtown Orlando can be a fit for absolutely anyone looking for an area to settle in. Looking for a high-rise penthouse condo? Got it! Looking for a cute little antique bungalow on a brick street? Got it! Looking for a comfortable 5 bedroom home on the lake? Got it! Looking for a modern townhouse within walking distance to local shops and eateries? Got it! Downtown literally has every kind of residential living unit you can imagine. You'll find both old and new homes, shopping, restaurants, cafes, wine bars, pizza joints, lakes with walking trails, neighborhood parks, and tons of beautiful old trees. There's also the Bob Carr Performing Arts Center where you can catch a touring Broadway show and the Amway Arena home to the Orlando Magic and also a phenomenal concert venue.
Picturing a life lived in Downtown Orlando could involve something as luxurious and contemporary as a sprawling penthouse apartment in a high-rise with an expansive skyline view over a glass-walled balcony, the lobby walls lined in modern art, a sparkling roof-top swimming pool, and every imaginable comfort and amenity. It could also be as simple as a little two-bedroom cottage on a brick street with a little picket fence, herb garden, crepe myrtles, and view of the lake in front of the house from the rocking chair front porch. The little café down the street is the place to be on a Sunday afternoon and most people just walk there since it's so close. How about for a big family? You could envision a large home on one of our skiable lakes... weekends lounging on the sandy beach in the backyard by the water. Taking the kids out on the boat for the afternoon and ending the day with a barbeque out by the pool.
Downtown is a fabulous spot when looking for things to do. There are always events going on somewhere... Lake Eola is famous for hosting huge venues on a regular basis and is the site of the Walt Disney Amphitheater where you can catch an outdoor play or concert. You can also rent a swan shaped paddle boat or an electric gondola or even feed the resident swans. There's the history center which hosts a really cool retro game night. The entire center, all three floors, is filled with all the old-school board games from childhood like twister, clue, mystery date, candy land, scrabble, and more. There's a market on Sunday's, a brand new movie theatre, all the nightlife you could possibly want, and a variety of places to enjoy a lazy afternoon or a drink with friends.
Keep in mind Downtown Orlando is the most central location in the area. It' a great access point no matter where you work since major highways run alongside of it. Most areas of Orlando can be reached within 20 minutes. Condos can be found in the immediate downtown area for anywhere from $40,000 - $1.5M, single family homes are available from $165,000 - $1.6M with skiable lakefront homes available from $165,000 - $1.85M. At those prices, Downtown Orlando offers something for everyone.
To find out more information about Orlando Real Estate go to Click Here
Article Source: http://EzineArticles.com/?expert=Gitta_Urbainczyk
Picturing a life lived in Downtown Orlando could involve something as luxurious and contemporary as a sprawling penthouse apartment in a high-rise with an expansive skyline view over a glass-walled balcony, the lobby walls lined in modern art, a sparkling roof-top swimming pool, and every imaginable comfort and amenity. It could also be as simple as a little two-bedroom cottage on a brick street with a little picket fence, herb garden, crepe myrtles, and view of the lake in front of the house from the rocking chair front porch. The little café down the street is the place to be on a Sunday afternoon and most people just walk there since it's so close. How about for a big family? You could envision a large home on one of our skiable lakes... weekends lounging on the sandy beach in the backyard by the water. Taking the kids out on the boat for the afternoon and ending the day with a barbeque out by the pool.
Downtown is a fabulous spot when looking for things to do. There are always events going on somewhere... Lake Eola is famous for hosting huge venues on a regular basis and is the site of the Walt Disney Amphitheater where you can catch an outdoor play or concert. You can also rent a swan shaped paddle boat or an electric gondola or even feed the resident swans. There's the history center which hosts a really cool retro game night. The entire center, all three floors, is filled with all the old-school board games from childhood like twister, clue, mystery date, candy land, scrabble, and more. There's a market on Sunday's, a brand new movie theatre, all the nightlife you could possibly want, and a variety of places to enjoy a lazy afternoon or a drink with friends.
Keep in mind Downtown Orlando is the most central location in the area. It' a great access point no matter where you work since major highways run alongside of it. Most areas of Orlando can be reached within 20 minutes. Condos can be found in the immediate downtown area for anywhere from $40,000 - $1.5M, single family homes are available from $165,000 - $1.6M with skiable lakefront homes available from $165,000 - $1.85M. At those prices, Downtown Orlando offers something for everyone.
To find out more information about Orlando Real Estate go to Click Here
Article Source: http://EzineArticles.com/?expert=Gitta_Urbainczyk
Real Estate Trends 2010 and Outlook to 2011
Real Estate Trends in 2010 have followed a pattern that was expected: as mortgage rates and homes sales have dropped, inventories of unsold properties have risen. The inventory currently on the market is only a portion of a larger inventory of REO (Real Estate Owned) by banks, which is held back and released slowly over a period of time, in order not to cause an even greater decline in housing values.
As we approach the end of the year, trends of 2010 will continue into 2011, following the same general pattern, with a slow recovery expected towards the end of 2011.
Some speculations predicted that the recovery would have started towards the end of 2010, but with new problems in the international economic markets, it looked like we took a double dip into the current recession. However, economists state that a double dip recession is unlikely, although spending and investments in the established economies have been challenged by emerging economies, like India and China.
Real Estate Trends are following the larger economic picture: the mortgage crisis has indeed caused a lot of turmoil and scars, which have created a domino effect with high unemployment, low consumer spending, consumer credit slow down and weak housing markets.
The large number of homeowners, who have lost their house in foreclosure, are not going to buy another property in the near future, because of the impact of the foreclosure on their credit (banks will not even consider a mortgage for a borrower for 4 years, if he/she had a foreclosure, 3 years for FHA loans,) therefore there is a new population of renters.
Investors, who have access to capital, can acquire homes for 60 cents on the dollar or less, via short sales and REO. They in turn keep these properties as rentals and investments, waiting on an inevitable economic recovery and increase in values.
Other Real Estate Trends worth mention are in the arena of commercial properties: commercial properties have followed a different pattern than residential properties, holding on to the market value longer and only in this last year have started to lose their balance, as large mortgage notes have become due and refinancing has become harder. Some great deals are available in commercial investments, from larger apartment buildings to shopping centers.
This is definitely the time to buy and it will continue for another couple of years. Inventory in residential and now commercial properties is abundant, seller's contributions as allowed are more available and the Government (especially HUD) is providing grants and incentives not only to homeowners, but also investors, in an attempt to expedite the housing recovery.
Laura Al-Amery is a real estate investor and consultant with 23 years experience in several aspects of the real estate business. She has practiced real estate in Hawaii and Missouri, and presently lives in St Louis. She has hosted real estate seminars in St Louis for over 10 years, in real estate subjects like creative financing, building wealth with multi family buildings and short sales.
For a FREE Report on "The 8 Most Profitable Real Estate Niches," which will explain in detail the type of investments and the pros and cons of each one, please visit http://www.bestrealestateniches.com.
Article Source: http://EzineArticles.com/?expert=Laura_Al-Amery
As we approach the end of the year, trends of 2010 will continue into 2011, following the same general pattern, with a slow recovery expected towards the end of 2011.
Some speculations predicted that the recovery would have started towards the end of 2010, but with new problems in the international economic markets, it looked like we took a double dip into the current recession. However, economists state that a double dip recession is unlikely, although spending and investments in the established economies have been challenged by emerging economies, like India and China.
Real Estate Trends are following the larger economic picture: the mortgage crisis has indeed caused a lot of turmoil and scars, which have created a domino effect with high unemployment, low consumer spending, consumer credit slow down and weak housing markets.
The large number of homeowners, who have lost their house in foreclosure, are not going to buy another property in the near future, because of the impact of the foreclosure on their credit (banks will not even consider a mortgage for a borrower for 4 years, if he/she had a foreclosure, 3 years for FHA loans,) therefore there is a new population of renters.
Investors, who have access to capital, can acquire homes for 60 cents on the dollar or less, via short sales and REO. They in turn keep these properties as rentals and investments, waiting on an inevitable economic recovery and increase in values.
Other Real Estate Trends worth mention are in the arena of commercial properties: commercial properties have followed a different pattern than residential properties, holding on to the market value longer and only in this last year have started to lose their balance, as large mortgage notes have become due and refinancing has become harder. Some great deals are available in commercial investments, from larger apartment buildings to shopping centers.
This is definitely the time to buy and it will continue for another couple of years. Inventory in residential and now commercial properties is abundant, seller's contributions as allowed are more available and the Government (especially HUD) is providing grants and incentives not only to homeowners, but also investors, in an attempt to expedite the housing recovery.
Laura Al-Amery is a real estate investor and consultant with 23 years experience in several aspects of the real estate business. She has practiced real estate in Hawaii and Missouri, and presently lives in St Louis. She has hosted real estate seminars in St Louis for over 10 years, in real estate subjects like creative financing, building wealth with multi family buildings and short sales.
For a FREE Report on "The 8 Most Profitable Real Estate Niches," which will explain in detail the type of investments and the pros and cons of each one, please visit http://www.bestrealestateniches.com.
Article Source: http://EzineArticles.com/?expert=Laura_Al-Amery
Smart People Are Buying Real Estate Now
I recently read this headline and thought is this a true statement? After pondering the question "Why is it smart to buy real estate now" I concluded that in fact this is a true statement. Here are the reasons why.
1. Prices of most homes have dropped significantly and in some areas as much as 75%. What this means is the only direction for prices going forward is up. Will prices of homes drop lower, perhaps, but just like trying to time the stock market, it is difficult to time the real estate market.
Here in California and specifically in Contra Costa County (where I live), prices data shows we hit the bottom in 2008 and have been going up ever since. Inventories in certain price ranges have dropped and we are seeing days on market decreasing to less than three months.
That doesn't mean that we will see home prices skyrocket to unrealistic levels as we had in the mid 2000's. But what it does mean, those in the know and are buying homes now.
2. Interest rates are the lowest they will ever be. They can't and won't stay in the 4% to 5% range forever and the prediction is that interest rates will start to go up on 2011. Looking back to 2003 thru 2007 interest rates were in the 6.25% range and actually crept close to 7%. At that time, everyone was excited because just a few years prior to this time period interest rates were up to 8.5%. So when the rates dropped under 7%, it caused a big stir in the market. So rates in the 4% range are unprecedented and should be taken advantage of right now.
Real Estate is an asset and a valuable one which savvy investors understand. There are investors in our area in California that are buying blocks of homes. It was unheard of to find homes in the $200K range, but there were plenty to go around over the past year to year and a half. These investors may rent them now, but look to reap the fortunes in the future - and probably not the too distant future - when prices go back up.
This is also a fantastic opportunity for the first time home buyer. You can get so much more home for your money and in areas that may have been out of reach for many.
If you are on the fence waiting for the right time, this may be the right time.
Linda Urbick - real estate professional serving clients in the purchase and sale of homes in the Contra Costa County area of California. For information on the market or real estate in general, visit my web site lindaurbick.com and send me an email.
Article Source: http://EzineArticles.com/?expert=Linda_A_Urbick
1. Prices of most homes have dropped significantly and in some areas as much as 75%. What this means is the only direction for prices going forward is up. Will prices of homes drop lower, perhaps, but just like trying to time the stock market, it is difficult to time the real estate market.
Here in California and specifically in Contra Costa County (where I live), prices data shows we hit the bottom in 2008 and have been going up ever since. Inventories in certain price ranges have dropped and we are seeing days on market decreasing to less than three months.
That doesn't mean that we will see home prices skyrocket to unrealistic levels as we had in the mid 2000's. But what it does mean, those in the know and are buying homes now.
2. Interest rates are the lowest they will ever be. They can't and won't stay in the 4% to 5% range forever and the prediction is that interest rates will start to go up on 2011. Looking back to 2003 thru 2007 interest rates were in the 6.25% range and actually crept close to 7%. At that time, everyone was excited because just a few years prior to this time period interest rates were up to 8.5%. So when the rates dropped under 7%, it caused a big stir in the market. So rates in the 4% range are unprecedented and should be taken advantage of right now.
Real Estate is an asset and a valuable one which savvy investors understand. There are investors in our area in California that are buying blocks of homes. It was unheard of to find homes in the $200K range, but there were plenty to go around over the past year to year and a half. These investors may rent them now, but look to reap the fortunes in the future - and probably not the too distant future - when prices go back up.
This is also a fantastic opportunity for the first time home buyer. You can get so much more home for your money and in areas that may have been out of reach for many.
If you are on the fence waiting for the right time, this may be the right time.
Linda Urbick - real estate professional serving clients in the purchase and sale of homes in the Contra Costa County area of California. For information on the market or real estate in general, visit my web site lindaurbick.com and send me an email.
Article Source: http://EzineArticles.com/?expert=Linda_A_Urbick
An Overview on Calgary Real Estate Economic Conditions By Mike Johnnson
The correction in the housing market, fall in interest rates and growth in house hold income has brought the affordability of Calgary homes better than ever before. However, the degree of housing affordability has improved far better than the 1980's cycle. The present growth is found to be similar with that of early 1990's real estate cycle. Record lows are spotted as another important reason for the increase in affordability and still further lowering is expected. Calgary agents instruct people to budget for higher interest rates to stay away from excessive risks. Speaking about the market, there are three individual yet connected types of real estate markets are available. They are Rental Market, Resale Market and the Construction Market.
One of the intelligent ways to evaluate your assets is just by comparing them with safe investments. However, Government bonds are considered to be the safest investments but at the same time real estate investments also have got some significant advantages over the bonds. One of the best features of real estate investments is the growth of dividend and appreciation of the asset value with time. The new house price index for Calgary is showing a steady rise since 2008 whereas the resale market conditions were not so smooth but however, showed peak positive results in 2007. Looking on to the current trends of market conditions, the Calgary realtors say that they are experiencing a decline every year which is about 1.6% from the year of 2008. Also the single family home prices dropped up to 44%. But there was a considerable rise in the sales of high end houses for sale in Calgary.
Generally low employment and high inflation rates are two factors that support real estate growth. Looking back the history the market, during the period of 1973-1983 there was a steep rise in home prices only because of the two factors mentioned above which Unemployment and Inflation were. However, things changed after 1983 when the unemployment rate cooled off significantly to lower rates which lead to the fall in home prices. If we take the period of 2005-2006 into consideration, a ratio of 50% sales to new listings ratio kept prices in balance. The current Calgary market conditions reports, an approximate value of 3.6% unemployment rate and an inflation rate of about 4.3% and undoubtedly, these two are spotted as the main reasons for the conservative optimism prevailing in the current Calgary real estate market.
The author is famous for his writings and research studies on Calgary real estate market conditions. The objective of Calgary real estate agents is all about finding you a perfect home for the right price and in the right location.
Article Source: http://EzineArticles.com/?expert=Mike_Johnnson
One of the intelligent ways to evaluate your assets is just by comparing them with safe investments. However, Government bonds are considered to be the safest investments but at the same time real estate investments also have got some significant advantages over the bonds. One of the best features of real estate investments is the growth of dividend and appreciation of the asset value with time. The new house price index for Calgary is showing a steady rise since 2008 whereas the resale market conditions were not so smooth but however, showed peak positive results in 2007. Looking on to the current trends of market conditions, the Calgary realtors say that they are experiencing a decline every year which is about 1.6% from the year of 2008. Also the single family home prices dropped up to 44%. But there was a considerable rise in the sales of high end houses for sale in Calgary.
Generally low employment and high inflation rates are two factors that support real estate growth. Looking back the history the market, during the period of 1973-1983 there was a steep rise in home prices only because of the two factors mentioned above which Unemployment and Inflation were. However, things changed after 1983 when the unemployment rate cooled off significantly to lower rates which lead to the fall in home prices. If we take the period of 2005-2006 into consideration, a ratio of 50% sales to new listings ratio kept prices in balance. The current Calgary market conditions reports, an approximate value of 3.6% unemployment rate and an inflation rate of about 4.3% and undoubtedly, these two are spotted as the main reasons for the conservative optimism prevailing in the current Calgary real estate market.
The author is famous for his writings and research studies on Calgary real estate market conditions. The objective of Calgary real estate agents is all about finding you a perfect home for the right price and in the right location.
Article Source: http://EzineArticles.com/?expert=Mike_Johnnson
3 Top Questions To Ask When Choosing A Real Estate Lawyer
Choosing a legal professional is a very personal decision, and can have a marked impact on the eventual success of your case. You must find someone that you feel you can understand, but there are also technical qualifications that must be met. When you are seeking a real estate lawyer, there are additional qualifications beyond what a regular legal professional should provide. While there is no guaranteed checklist for finding a successful attorney, asking these questions can help you ensure that you choose the best possible real estate attorney for your case.
Question 1: How Long Have You Been Licensed To Practice Law?
This question is among the most basic, yet a surprising number of potential clients forget to ask it. In order to become a real estate lawyer, or to be legally permitted to give legal advice of any kind, the professional must attend law school and pass an exam known as the Bar exam. This exam is specific to each state, and a lawyer who wishes to open up a practice in another state must pass that state's bar as well before he may practice. Asking your potential advocate how long he has been licensed to practice will give you an idea of his experience while also confirming that he is in fact a technically qualified legal professional and can legally represent you.
Question #2: How Long Have You Been A Real Estate Lawyer?
Virtually every attorney chooses one specialty, which most will follow throughout their professional career. Some may specialize in two related fields, but it's rare to find anyone more diversified than that. There is a very good reason for such specificity: legal precedent, a major factor in many court decisions. In order to maintain consistency in court rulings, courts will take into account former rulings when they make decisions in current cases. Thus, in order to support his claims, a real estate attorney may reference these former decisions and use them as part of a current argument. Following these developments in the different courts statewide and even nationwide takes a lot of time, which in addition to the specialized depth of knowledge required creates a practical limit of one specialty per advocate. Some will occasionally switch specialties mid-practice, but asking will easily reveal that.
Question #3: How Many Clients Do You Typically Carry At Once?
A small law office may quickly become overburdened if the caseload is too high, but a larger office may end up shuttling you off to a young, inexperienced real estate attorney or even a caseworker. You want to ensure that whatever size office you choose has the right amount of staff to give you the attention you need. There is no magic number, but a single lawyer handling more than 10 intensive cases is almost certainly overburdened.
The Right Real Estate Attorney For You
Finding a good legal professional requires persistence, perseverance, and a high level of comfort asking tough questions. The right legal professional won't hesitate to answer, will be knowledgeable, and will be open and honest with you from the beginning. If you find someone who has the necessary legal qualifications and seems to have a strong grasp of property legislation as well, you can find the person who will help you best.
Chris Harmen writes for the Chicago Legal Group, providing a top Lake County real estate lawyer for your real estate disputes. A Chicago Legal Group Chicago real estate attorney can help you navigate legal proceedings with confidence.
Article Source: http://EzineArticles.com/?expert=Chris_A._Harmen
Question 1: How Long Have You Been Licensed To Practice Law?
This question is among the most basic, yet a surprising number of potential clients forget to ask it. In order to become a real estate lawyer, or to be legally permitted to give legal advice of any kind, the professional must attend law school and pass an exam known as the Bar exam. This exam is specific to each state, and a lawyer who wishes to open up a practice in another state must pass that state's bar as well before he may practice. Asking your potential advocate how long he has been licensed to practice will give you an idea of his experience while also confirming that he is in fact a technically qualified legal professional and can legally represent you.
Question #2: How Long Have You Been A Real Estate Lawyer?
Virtually every attorney chooses one specialty, which most will follow throughout their professional career. Some may specialize in two related fields, but it's rare to find anyone more diversified than that. There is a very good reason for such specificity: legal precedent, a major factor in many court decisions. In order to maintain consistency in court rulings, courts will take into account former rulings when they make decisions in current cases. Thus, in order to support his claims, a real estate attorney may reference these former decisions and use them as part of a current argument. Following these developments in the different courts statewide and even nationwide takes a lot of time, which in addition to the specialized depth of knowledge required creates a practical limit of one specialty per advocate. Some will occasionally switch specialties mid-practice, but asking will easily reveal that.
Question #3: How Many Clients Do You Typically Carry At Once?
A small law office may quickly become overburdened if the caseload is too high, but a larger office may end up shuttling you off to a young, inexperienced real estate attorney or even a caseworker. You want to ensure that whatever size office you choose has the right amount of staff to give you the attention you need. There is no magic number, but a single lawyer handling more than 10 intensive cases is almost certainly overburdened.
The Right Real Estate Attorney For You
Finding a good legal professional requires persistence, perseverance, and a high level of comfort asking tough questions. The right legal professional won't hesitate to answer, will be knowledgeable, and will be open and honest with you from the beginning. If you find someone who has the necessary legal qualifications and seems to have a strong grasp of property legislation as well, you can find the person who will help you best.
Chris Harmen writes for the Chicago Legal Group, providing a top Lake County real estate lawyer for your real estate disputes. A Chicago Legal Group Chicago real estate attorney can help you navigate legal proceedings with confidence.
Article Source: http://EzineArticles.com/?expert=Chris_A._Harmen
25 February 2011
Global Information Network
The Global Information Network (GIN) is a private, exclusive, members-only global association of individuals dedicated to achieving Financial independence, Wealth creation, Dynamic health, and emotional well-being.
GIN is a global group of like minded highly influential, affluent, and freedom-orientated people from various business, social and economic sectors. The goal of GIN is to provide a safe haven where members can build mutually beneficial long-term relationships to help one another better achieve their respective goals, desires and dreams. The belief is that this rare and unique ability to associate with people from around the world allows each member special advantages that they would not have as isolated individuals.
If you are lucky, maybe once in your lifetime a day will come where you will have the opportunity to get in on the ground floor of a money making opportunity that can almost GUARANTEE your success!
Today is that day!
In 1996 a very successful wealthy friend of mine launched a multi-level marketing program. This man is a TV celebrity, and a number 1 New York Times bestselling author. His books have sold an estimated
50 million copies. When he launched this new MLM program in 1996, the company was publically traded on NASDAQ with a stock price of just .50 cents. In less than 18 months over 200,000 joined this company. Sales exceeded $250,000,000! And the stock went to $35!!!
Many people that got in at the beginning made millions. Don’t you wish YOU had gotten in back then at the very beginning?
Well my friend sold his equity in 1999 and made yet another fortune.
Now, my friend is doing it AGAIN!
This time with over 30 other wealthy people from around the world! Together they have launched a BRAND NEW program……the Global Information Network.
For the first time in history, a money making program is being launched WORLDWIDE SIMULTANEOUSLY!
This is totally ground floor. This is totally new. You are among the VERY FIRST people to be hearing about this. Those who get in on the ground floor of these types of opportunities have the chance to make the most money.
90 days from today you could be making more money than you ever imagined.
It is the most revolutionary money making program I have ever seen. Nothing like this has been done before. It has a MLM twist that could make this the fastest growing MLM type program of all time.
It has JUST STARTED. You can get in at the beginning of the beginning. This is a total ground floor once in a lifetime opportunity.
I am a member, and I believe millionaires will be made faster than with any other program…. Ever!
In the just the last 2 months people are already making huge money. One member made $148,200 his first month and his second month made over $288,600!!
This is real and happening now.
I am personally inviting you to join and become a member as well. Membership is by invitation only.
Don’t miss this once in a lifetime chance to get in on the ground floor launch of a major global money making opportunity that could make you more money than you ever imagined.
You could be making more money in a lifetime - permanent monthly residual income - than most people make in a whole year!
Imagine making $5,000, $10,000, $20,000, even $50,000 PER MONTH!! Without ever leaving your home!
Wealth can be yours.
Simply go to www.globalinformationnetwork.com
Read all the information on the website and listen to the audios. It explains it all. You will understand what I am talking about and why I am so excited. It will only take a few minutes and you will thank me a thousand times.
If you have questions please call me ASAP at 321-297-8089 or APCarson@gmail.com Put in Subject line GIN Question
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Sign up as a MEMBER and use my affiliate code: Andy
Once you sign up as a MEMBER, I will show you exactly how one member made over $400,000 in 60 days! What he did was SIMPLE! I will show you how he did it!
Join now and starts making all of your dreams come true.
Talk to you very soon……And I will see YOU on the beaches of the world!
Florida Realtors® Legal Alert
Florida Realtors® Legal Alert
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New FTC rules require short sale disclosures
Be advised that the Federal Trade Commission (FTC) has issued new rules that might impact real estate practitioners who represent clients involved in short sale transactions. Depending on certain factors, the so-called MARS rules (Mortgage Assistance Relief Services) could require members to make certain disclosures to consumers if they negotiate a short sale with a lender or advertise their short sales experience.
The MARS rules took effect on Jan. 31, 2011.
Florida Realtors has created a MARS Information Center on floridarealtors.org where you'll find four disclosure forms. Florida Realtors attorneys advise you to begin using these immediately if you are involved in short sale transactions.
You'll also find a primer on the new disclosures (document titled Roadmap to the new FTC disclosures for Short Sale transactions), a link to the actual FTC rules and an interpretation of the rules by the National Association of Realtor's legal team.
Please keep checking the MARS Information Center for updates.
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© 2011 Florida Realtors®
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Below is from http://www.ftc.gov/opa/2010/11/mars.shtm
For Release: 11/19/2010
FTC Issues Final Rule to Protect Struggling Homeowners from Mortgage Relief Scams
Rule Outlaws Advance Fees and False Claims, Requires Clear Disclosures
Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.
“At a time when many Americans are struggling to pay their mortgages, peddlers of so-called mortgage relief services have taken hundreds of millions of dollars from hundreds of thousands of homeowners without ever delivering results,” FTC Chairman Jon Leibowitz said. “By banning providers of these services from collecting fees until the customer is satisfied with the results, this rule will protect consumers from being victimized by these scams.”
The FTC is issuing the Mortgage Assistance Relief Services (MARS) Rule to protect distressed homeowners from mortgage relief scams that have sprung up during the mortgage crisis. Bogus operations falsely claim that, for a fee, they will negotiate with the consumer’s mortgage lender or servicer to obtain a loan modification, a short sale, or other relief from foreclosure. Many of these operations pretend to be affiliated with the government and government housing assistance programs. The FTC has brought more than 30 cases against operations like these, and state and federal law enforcement partners have brought hundreds more.
Advance fee ban
The most significant consumer protection under the FTC’s new rule is the advance fee ban. Under this provision, mortgage relief companies may not collect any fees until they have provided consumers with a written offer from their lender or servicer that the consumer decides is acceptable, and a written document from the lender or servicer describing the key changes to the mortgage that would result if the consumer accepts the offer. The companies also must remind consumers of their right to reject the offer without any charge.
Disclosures
The Rule requires mortgage relief companies to disclose key information to consumers to protect them from being misled and to help them make better informed purchasing decisions. In their advertising and in communications directed at individual consumers (such as telemarketing calls), the companies must disclose that:
they are not associated with the government, and their services have not been approved by the government or the consumer’s lender;
the lender may not agree to change the consumer’s loan; and
if companies tell consumers to stop paying their mortgage, they must also tell them that they could lose their home and damage their credit rating.
Companies also must explain in their communications to consumers that they can stop doing business with the company at any time, can accept or reject any offer the company obtains from the lender or servicer, and, if they reject the offer, they don’t have to pay the company’s fee. The companies also must disclose the amount of the fee.
Prohibited claims
The MARS Rule prohibits mortgage relief companies from making any false or misleading claims about their services, including claims about:
the likelihood of consumers getting the results they seek;
the company’s affiliation with government or private entities;
the consumer’s payment and other mortgage obligations;
the company’s refund and cancellation policies;
whether the company has performed the services it promised;
whether the company will provide legal representation to consumers;
the availability or cost of any alternative to for-profit mortgage assistance relief services;
the amount of money a consumer will save by using their services; or
the cost of the services.
In addition, the rule bars mortgage relief companies from telling consumers to stop communicating with their lenders or servicers. Companies also must have reliable evidence to back up any claims they make about the benefits, performance, or effectiveness of the services they provide.
Attorney exemption
Attorneys are generally exempt from the rule if they meet three conditions: they are engaged in the practice of law, they are licensed in the state where the consumer or the dwelling is located, and they are complying with state laws and regulations governing attorney conduct related to the rule. To be exempt from the advance fee ban, attorneys must meet a fourth requirement – they must place any fees they collect in a client trust account and abide by state laws and regulations covering such accounts.
ll provisions of the rule except the advance-fee ban will become effective December 29, 2010. The advance-fee ban provisions will become effective January 31, 2011.
The FTC rulemaking proceeding was conducted pursuant to Congressional legislation sponsored in 2009 by Senators Jay Rockefeller and Byron Dorgan. The Final Rule applies only to entities within the FTC’s jurisdiction under the Federal Trade Commission Act, which excludes, among others, banks, savings and loans, federal credit unions, common carriers, and entities engaged in the business of insurance. In June 2009, the FTC issued an Advance Notice of Proposed Rulemaking seeking comment on the practices of for-profit mortgage relief companies. In February 2010, the FTC announced a Notice of Proposed Rulemaking and sought comments from interested persons, including advocates for consumers, the business community, and the legal profession.
Click here for facts about mortgage consumers’ rights.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics.
MEDIA CONTACT:
Office of Public Affairs
202-326-2180
STAFF CONTACT:
Laura Sullivan or Evan Zullow
Bureau of Consumer Protection
202-326-3224
(MARS)
(FTC File No. R911003)
**********************************************************
New FTC rules require short sale disclosures
Be advised that the Federal Trade Commission (FTC) has issued new rules that might impact real estate practitioners who represent clients involved in short sale transactions. Depending on certain factors, the so-called MARS rules (Mortgage Assistance Relief Services) could require members to make certain disclosures to consumers if they negotiate a short sale with a lender or advertise their short sales experience.
The MARS rules took effect on Jan. 31, 2011.
Florida Realtors has created a MARS Information Center on floridarealtors.org where you'll find four disclosure forms. Florida Realtors attorneys advise you to begin using these immediately if you are involved in short sale transactions.
You'll also find a primer on the new disclosures (document titled Roadmap to the new FTC disclosures for Short Sale transactions), a link to the actual FTC rules and an interpretation of the rules by the National Association of Realtor's legal team.
Please keep checking the MARS Information Center for updates.
**********************************************************
© 2011 Florida Realtors®
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Below is from http://www.ftc.gov/opa/2010/11/mars.shtm
For Release: 11/19/2010
FTC Issues Final Rule to Protect Struggling Homeowners from Mortgage Relief Scams
Rule Outlaws Advance Fees and False Claims, Requires Clear Disclosures
Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.
“At a time when many Americans are struggling to pay their mortgages, peddlers of so-called mortgage relief services have taken hundreds of millions of dollars from hundreds of thousands of homeowners without ever delivering results,” FTC Chairman Jon Leibowitz said. “By banning providers of these services from collecting fees until the customer is satisfied with the results, this rule will protect consumers from being victimized by these scams.”
The FTC is issuing the Mortgage Assistance Relief Services (MARS) Rule to protect distressed homeowners from mortgage relief scams that have sprung up during the mortgage crisis. Bogus operations falsely claim that, for a fee, they will negotiate with the consumer’s mortgage lender or servicer to obtain a loan modification, a short sale, or other relief from foreclosure. Many of these operations pretend to be affiliated with the government and government housing assistance programs. The FTC has brought more than 30 cases against operations like these, and state and federal law enforcement partners have brought hundreds more.
Advance fee ban
The most significant consumer protection under the FTC’s new rule is the advance fee ban. Under this provision, mortgage relief companies may not collect any fees until they have provided consumers with a written offer from their lender or servicer that the consumer decides is acceptable, and a written document from the lender or servicer describing the key changes to the mortgage that would result if the consumer accepts the offer. The companies also must remind consumers of their right to reject the offer without any charge.
Disclosures
The Rule requires mortgage relief companies to disclose key information to consumers to protect them from being misled and to help them make better informed purchasing decisions. In their advertising and in communications directed at individual consumers (such as telemarketing calls), the companies must disclose that:
they are not associated with the government, and their services have not been approved by the government or the consumer’s lender;
the lender may not agree to change the consumer’s loan; and
if companies tell consumers to stop paying their mortgage, they must also tell them that they could lose their home and damage their credit rating.
Companies also must explain in their communications to consumers that they can stop doing business with the company at any time, can accept or reject any offer the company obtains from the lender or servicer, and, if they reject the offer, they don’t have to pay the company’s fee. The companies also must disclose the amount of the fee.
Prohibited claims
The MARS Rule prohibits mortgage relief companies from making any false or misleading claims about their services, including claims about:
the likelihood of consumers getting the results they seek;
the company’s affiliation with government or private entities;
the consumer’s payment and other mortgage obligations;
the company’s refund and cancellation policies;
whether the company has performed the services it promised;
whether the company will provide legal representation to consumers;
the availability or cost of any alternative to for-profit mortgage assistance relief services;
the amount of money a consumer will save by using their services; or
the cost of the services.
In addition, the rule bars mortgage relief companies from telling consumers to stop communicating with their lenders or servicers. Companies also must have reliable evidence to back up any claims they make about the benefits, performance, or effectiveness of the services they provide.
Attorney exemption
Attorneys are generally exempt from the rule if they meet three conditions: they are engaged in the practice of law, they are licensed in the state where the consumer or the dwelling is located, and they are complying with state laws and regulations governing attorney conduct related to the rule. To be exempt from the advance fee ban, attorneys must meet a fourth requirement – they must place any fees they collect in a client trust account and abide by state laws and regulations covering such accounts.
ll provisions of the rule except the advance-fee ban will become effective December 29, 2010. The advance-fee ban provisions will become effective January 31, 2011.
The FTC rulemaking proceeding was conducted pursuant to Congressional legislation sponsored in 2009 by Senators Jay Rockefeller and Byron Dorgan. The Final Rule applies only to entities within the FTC’s jurisdiction under the Federal Trade Commission Act, which excludes, among others, banks, savings and loans, federal credit unions, common carriers, and entities engaged in the business of insurance. In June 2009, the FTC issued an Advance Notice of Proposed Rulemaking seeking comment on the practices of for-profit mortgage relief companies. In February 2010, the FTC announced a Notice of Proposed Rulemaking and sought comments from interested persons, including advocates for consumers, the business community, and the legal profession.
Click here for facts about mortgage consumers’ rights.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 1,800 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics.
MEDIA CONTACT:
Office of Public Affairs
202-326-2180
STAFF CONTACT:
Laura Sullivan or Evan Zullow
Bureau of Consumer Protection
202-326-3224
(MARS)
(FTC File No. R911003)
Get Rich Radio -- The only show that pays listeners to learn
Get Rich Radio Making A Big Hit
Success Principles are universal AND can be applied in many different fields.
Get paid to learn. This has never been done before. Getting education paid for just by listening to the radio. In fact she says, “Not doing this is almost like admitting you don’t want a better life”. Is a source of great advice and Tremendous personal development information and is also a radio station that is giving away cash every single day .
None of these things matter:
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Marshall Sylver has the goal of bringing the economy out of its current recession by teaching people how to become wealthy from the inside out. He knows that people have an economic blueprint that determines how much wealth they can create and he also knows how to change it.
It’s a proven fact that the way to achieve success is to find someone who has done what you want to do and to emulate them. With Get Rich Radio, you can do this. Marshall is a wonderful mentor and his light-hearted approach makes learning fun.
He also provides incentives to make his radio show even more enticing. Every week he gives away thousands of dollars to listeners. He also provides scholarship dollars to premium members to use for educational products aimed at helping you to become wealthy. And you can even call in and get answers to your financial questions live on the air.
WHEN you go to http://getrichradio.com/aff/idevaffiliate.php?id=6326, you can listen to Marshall Sylver’s show for two hours on weekdays to get the education you didn’t get in school. For every minute you listen, you also earn scholarship dollars that you can use for your choice of a growing list of wealth-building products. No matter how you look at it, there’s a lot to gain and nothing to lose. Rock ON!
The truth is I don’t recommend anything I wouldn’t do Myself. I have also attended some of Marshall Sylver’s seminars like Turning Point and First Million. They have all been invaluable and I highly recommend them. You NEED them. This is Good stuff.
24 February 2011
Savvy investors attend CFRI's General Meeting.
Savvy investors attend CFRI's General Meeting.
Seller Financing: Filling the Void
March's General Meeting feature speaker is Eddie Speed, national expert on seller financing. He'll be discussing how seller financing is filling the void created by the decline in mortgage lending. Unable to find qualified buyers, sellers are increasingly carrying loans themselves. This creates a huge inventory of seller-financed notes that are ripe for the investors picking! Join us on Wednesday, March 2, to find out how the savvy real estate investor can capitalize on the mortgage implosion through the profitable business of seller financing! See you there!
Our signature monthly networking and educational event:
CFRI General Meeting
Wednesday, March 2, 2011
The Orlando Museum of Art
2416 N. Mills Avenue, Orlando, FL 32803
Click Here for Directions!
Meeting begins at 6:00 p.m.
(Doors open at 5:15 p.m.)
Members: FREE
Guest fees: $20*
*If guest joins within two days of the meeting, his/her guest fee will be applied to the membership fee with proof of payment.
CFRI Business Members Can Reach Hundreds of Investors!
Let them know Andy Carson Refered you!
Experian adds rent payments to credit report
COSTA MESA, Calif. – Feb. 24, 2011 – The Experian consumer credit reporting firm has added rent payment histories to its reports.
Costa Mesa, Calif.-based Experian recently acquired RentBureau and is including rental payment data into its traditional credit file. It makes it easier for college students, recent graduates and immigrants who pay their rent on time to boost their credit scores.
Credit reports have previously included credit card, mortgage, loan and finance company account information.
The Los Angeles Times reports the RentBureau database receives rental payment histories daily from a limited number of property managers. Its records include about eight million of the nation’s nearly 38 million rental units.
Copyright © 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: Los Angeles Times
Costa Mesa, Calif.-based Experian recently acquired RentBureau and is including rental payment data into its traditional credit file. It makes it easier for college students, recent graduates and immigrants who pay their rent on time to boost their credit scores.
Credit reports have previously included credit card, mortgage, loan and finance company account information.
The Los Angeles Times reports the RentBureau database receives rental payment histories daily from a limited number of property managers. Its records include about eight million of the nation’s nearly 38 million rental units.
Copyright © 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Information from: Los Angeles Times
Watch before you e-mail, court says
MANHATTAN, N.Y. – Feb. 23, 2011 – E-mails are just as binding in real estate negotiations as traditional ink-on-paper contracts, according to a state court ruling in New York regarding a real estate dispute.
“Given the vast growth in the last decade and a half in the number of people and entities regularly using e-mail,” handwriting and e-mail should now basically be considered one and the same, ruled the Appellate Division, First Department of State Supreme Court in Manhattan, N.Y. The court handed down its ruling on Oct. 5, but it mostly went unnoticed by the public. The ruling was appealed this week to New York’s highest court, the Court of Appeals.
The case – Naldi v. Grunberg – stems from accusations of a breach of contract in a commercial real estate transaction. The court’s ruling, which also applies to residential transactions, is expected to bring some clarity to how legally binding e-mail is in real estate.
“As much as communication originally written or typed on paper, an e-mail retrievable from computer storage” is proof of a deal, the court said.
Robert J. Braverman, a Manhattan real estate lawyer, told The New York Times, “You need to be mindful of what it is you are saying in electronic communications.” For example, a broker or seller who uses a phrase such as “$700,000 was more of what I had in mind” in an e-mail “might have a problem,” Braverman says.
Mario J. Suarez, a lawyer at Thompson Hine, says adding a disclaimer on e-mails may help. The e-mail disclaimer may read something like the communications “shall not be deemed an offer, as no documents are binding unless and until executed.”
Source: “E-mail may be binding, state court rules,” The New York Times (Feb. 17, 2011)
© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688
“Given the vast growth in the last decade and a half in the number of people and entities regularly using e-mail,” handwriting and e-mail should now basically be considered one and the same, ruled the Appellate Division, First Department of State Supreme Court in Manhattan, N.Y. The court handed down its ruling on Oct. 5, but it mostly went unnoticed by the public. The ruling was appealed this week to New York’s highest court, the Court of Appeals.
The case – Naldi v. Grunberg – stems from accusations of a breach of contract in a commercial real estate transaction. The court’s ruling, which also applies to residential transactions, is expected to bring some clarity to how legally binding e-mail is in real estate.
“As much as communication originally written or typed on paper, an e-mail retrievable from computer storage” is proof of a deal, the court said.
Robert J. Braverman, a Manhattan real estate lawyer, told The New York Times, “You need to be mindful of what it is you are saying in electronic communications.” For example, a broker or seller who uses a phrase such as “$700,000 was more of what I had in mind” in an e-mail “might have a problem,” Braverman says.
Mario J. Suarez, a lawyer at Thompson Hine, says adding a disclaimer on e-mails may help. The e-mail disclaimer may read something like the communications “shall not be deemed an offer, as no documents are binding unless and until executed.”
Source: “E-mail may be binding, state court rules,” The New York Times (Feb. 17, 2011)
© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688
Is luxury making a comeback?
PALM BEACH, Fla. – Feb. 24, 2011 – Uber-rich Americans are spending again, on everything from fancy cars to second homes.
“Personal embracement of luxury is now back to (pre-recession) 2007 levels,” marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. “We’re seeing that in cars, private jet usage and finally, in high-end real estate. There’s a real change in the way people feel about money. They’re making purchases they put off during the recession.”
For example, second-home markets are on the rise: Vacation homes in Cape Cod, Mass., for example, increased 9 percent in 2010. In Palm Beach, Fla., home sales increased nearly 40 percent, and in Hilton Head, S.C., home sales were up nearly 14 percent. Luxury home sales in Southern California are also beginning to pick up, analysts say.
“We’re starting to see movement,” says Madison Hildebrand, a real estate professional who specializes in selling homes in Southern California, and also star of the Bravo’s “Million Dollar Listing” reality show. “People are more confident.”
Analysts also note that when the wealthy start buying, it often has a trickle down effect among middle and upper-income shoppers too.
Source: “For the wealthy, luxury is back,” USA Today (Feb. 20, 2011)
© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688
“Personal embracement of luxury is now back to (pre-recession) 2007 levels,” marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. “We’re seeing that in cars, private jet usage and finally, in high-end real estate. There’s a real change in the way people feel about money. They’re making purchases they put off during the recession.”
For example, second-home markets are on the rise: Vacation homes in Cape Cod, Mass., for example, increased 9 percent in 2010. In Palm Beach, Fla., home sales increased nearly 40 percent, and in Hilton Head, S.C., home sales were up nearly 14 percent. Luxury home sales in Southern California are also beginning to pick up, analysts say.
“We’re starting to see movement,” says Madison Hildebrand, a real estate professional who specializes in selling homes in Southern California, and also star of the Bravo’s “Million Dollar Listing” reality show. “People are more confident.”
Analysts also note that when the wealthy start buying, it often has a trickle down effect among middle and upper-income shoppers too.
Source: “For the wealthy, luxury is back,” USA Today (Feb. 20, 2011)
© Copyright 2011 INFORMATION, INC. Bethesda, MD (301) 215-4688
Existing-Home Sales Up Again in January
Daily Real Estate News
February 23, 2011
The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above levels a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier.
Lawrence Yun, NAR chief economist, said the improvement is good but could be better. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” Yun said. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”
A parallel NAR practitioner survey shows first-time buyers purchased 29 percent of homes in January, down from 33 percent in December and 40 percent in January 2010 when an extended tax credit was in place.
Investors accounted for 23 percent of purchases in January, up from 20 percent in December and 17 percent in January 2010; the balance of sales were to repeat buyers. All-cash sales rose to 32 percent in January from 29 percent in December and 26 percent in January 2010.
“Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes,” Yun said.
All-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15 percent of the market. The average of all-cash deals was 20 percent in 2009, rising to 28 percent last year.
The national median existing-home price for all housing types was $158,800 in January, down 3.7 percent from January 2010. Distressed homes edged up to a 37 percent market share in January from 36 percent in December; it was 38 percent in January 2010.
NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said the median price is being dampened by unusual market factors. “Unprecedented levels of all-cash purchases, primarily of distressed homes sold at deep discounts, undoubtedly pulls the median price downward,” Phipps said. “Given the levels of inventory we see today, we believe that traditional homes in good condition have held their value.”
Total housing inventory at the end of January fell 5.1 percent to 3.38 million existing homes available for sale, which represents a 7.6-month supply at the current sales pace, down from an 8.2-month supply in December. The inventory supply is at the lowest level since December 2009 when there was a 7.3-month supply.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.76 percent in January from 4.71 percent in December; the rate was 5.03 percent in January 2010.
Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.69 million in January from 4.58 million in December, and are 4.9 percent higher than the 4.47 million level in January 2010. The median existing single-family home price was $159,400 in January, down 2.7 percent from a year ago.
Regional Sales
Northeast: Regionally, existing-home sales in the Northeast fell 4.6 percent to an annual pace of 830,000 in January from a spike in December and are 1.2 percent below January 2010. The median price in the Northeast was $236,500, which is 4.0 percent below a year ago.
Midwest :"Existing-home sales in the Midwest rose 1.8 percent in January to a level of 1.14 million and are 3.6 percent above a year ago. The median price in the Midwest was $126,300, which is 3.2 percent below January 2010.
South: In the South, existing-home sales increased 3.6 percent to an annual pace of 2.02 million in January and are 8.0 percent higher than January 2010. The median price in the South was $136,600, down 2.1 percent from a year ago.
West: Existing-home sales in the West rose 7.9 percent to an annual level of 1.37 million in January and are 7.0 percent above January 2010. The median price in the West was $193,200, down 5.7 percent from a year ago.
— NAR
February 23, 2011
The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above levels a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier.
Lawrence Yun, NAR chief economist, said the improvement is good but could be better. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” Yun said. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”
A parallel NAR practitioner survey shows first-time buyers purchased 29 percent of homes in January, down from 33 percent in December and 40 percent in January 2010 when an extended tax credit was in place.
Investors accounted for 23 percent of purchases in January, up from 20 percent in December and 17 percent in January 2010; the balance of sales were to repeat buyers. All-cash sales rose to 32 percent in January from 29 percent in December and 26 percent in January 2010.
“Increases in all-cash transactions, the investor market share and distressed home sales all go hand-in-hand. With tight credit standards, it’s not surprising to see so much activity where cash is king and investors are taking advantage of conditions to purchase undervalued homes,” Yun said.
All-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15 percent of the market. The average of all-cash deals was 20 percent in 2009, rising to 28 percent last year.
The national median existing-home price for all housing types was $158,800 in January, down 3.7 percent from January 2010. Distressed homes edged up to a 37 percent market share in January from 36 percent in December; it was 38 percent in January 2010.
NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said the median price is being dampened by unusual market factors. “Unprecedented levels of all-cash purchases, primarily of distressed homes sold at deep discounts, undoubtedly pulls the median price downward,” Phipps said. “Given the levels of inventory we see today, we believe that traditional homes in good condition have held their value.”
Total housing inventory at the end of January fell 5.1 percent to 3.38 million existing homes available for sale, which represents a 7.6-month supply at the current sales pace, down from an 8.2-month supply in December. The inventory supply is at the lowest level since December 2009 when there was a 7.3-month supply.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.76 percent in January from 4.71 percent in December; the rate was 5.03 percent in January 2010.
Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.69 million in January from 4.58 million in December, and are 4.9 percent higher than the 4.47 million level in January 2010. The median existing single-family home price was $159,400 in January, down 2.7 percent from a year ago.Existing condominium and co-op sales increased 4.7 percent to a seasonally adjusted annual rate of 670,000 in January from 640,000 in December, and are 7.9 percent above the 621,000-unit pace one year ago. The median existing condo price was $154,900 in January, which is 10.2 percent below January 2010.
Regional Sales
Northeast: Regionally, existing-home sales in the Northeast fell 4.6 percent to an annual pace of 830,000 in January from a spike in December and are 1.2 percent below January 2010. The median price in the Northeast was $236,500, which is 4.0 percent below a year ago.
Midwest :"Existing-home sales in the Midwest rose 1.8 percent in January to a level of 1.14 million and are 3.6 percent above a year ago. The median price in the Midwest was $126,300, which is 3.2 percent below January 2010.
South: In the South, existing-home sales increased 3.6 percent to an annual pace of 2.02 million in January and are 8.0 percent higher than January 2010. The median price in the South was $136,600, down 2.1 percent from a year ago.
West: Existing-home sales in the West rose 7.9 percent to an annual level of 1.37 million in January and are 7.0 percent above January 2010. The median price in the West was $193,200, down 5.7 percent from a year ago.
— NAR
A tax deductions checklist for real estate professionals
Real Estate Tax Talk
By Stephen Fishman, Friday, February 18, 2011.
Inman News™
These may not be the worst of times for real estate professionals, but they certainly are not the best either. To add insult to injury, it is now tax time.
However, there's one thing you can do to help keep your head above water: Take all the tax deductions to which you are entitled.
Tax deductions really add up
Additional resources:Internal Revenue Code Section 162
Internal Revenue Code Section 179
For example, if you're single and your taxable business income is $100,000, every dollar you deduct from your taxable income will save you close to 50 cents in taxes. This includes 28 percent in federal income taxes, 15.3 percent in self-employment taxes, and an average of 6 percent in state income taxes.
Additional business deductions are worth less if your income exceeds the $100,600 Social Security tax ceiling, because you don't have to pay the 12.4 percent Social Security tax.
Article continues below
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For example, if you're in the 33 percent income tax bracket, an additional deduction will be worth 33 percent (in federal taxes), plus 6 percent (in state taxes), plus 2.9 percent (in Medicare taxes). This adds up to 41.9 percent. Still not bad.
What can you deduct?
There are dozens of possible tax deductions for real estate professionals. Any expense for your real estate business is deductible if it is:
•ordinary and necessary;
•directly related to your business; and
•reasonable in amount (see: Internal Revenue Code Section 162).
An expense doesn't have to be indispensable to be necessary; it need only help your business in some way -- even if it's a minor way. A one-time expenditure can be ordinary and necessary.
However, you cannot deduct personal expenses. For example, the cost of a personal computer is a deductible operating expense only if you use the computer for business purposes; it is not deductible if you use it to pay personal bills or play computer games.
If you buy something for both personal and business use, you can deduct only the business portion of the expense. For example, if you buy a cellular phone and use it half of the time for business calls and half of the time for personal calls, you can deduct only half of the cost of the phone as a business expense.
Subject to some important exceptions, there is no limit on how much you can deduct, as long as the amount is reasonable and you don't deduct more than you spend. As a rule of thumb, an expense is reasonable unless there are more economical and practical ways to achieve the same result. If the IRS finds that your deductions were unreasonably large, it will disallow them or at least disallow the portion it finds unreasonable.
Checklist of deductions
Here's a checklist of common expenses for real estate agents and brokers that you can use to make sure you don't miss any deductions this year:
•advertising expenses, including websites, mailing lists, newspaper advertising, fliers, online advertising, postcards, promotional materials, logo clothing, and anything else you pay for to market your real estate business;
•bookkeeping, accounting and legal fees;
•business gifts (up to $25);
•business meals and entertainment (only 50 percent deductible);
•cab fares for business travel;
•car and truck expenses, including business mileage, depreciation, insurance, interest on car loans, lease payments, license plate fees, parking expenses, and tolls;
•cell phones;
•computer software;
•computers;
•desk fees;
•education to maintain or improve required skills (but not courses you take to pass the real estate licensing exam);
•home office expenses (if you qualify);
•insurance, including health insurance, errors and omissions insurance, business liability insurance, and business equipment insurance;
•interest, such as interest for business loans, interest paid on business credit cards;
•Internet access fees;
•map books;
•office equipment (cost may be deducted in one year using bonus depreciation or IRC Section 179);
•office expenses, including rent, cleaning and maintenance, and utilities;
•office supplies;
•postage;
•professional dues and fees -- for example, multiple listing service dues and dues paid to the local Chamber of Commerce, Realtor associations, and real estate license renewal fees;
•referral fees and commission rebates;
•retirement plan contributions;
•subscriptions to professional journals;
•real estate franchise fees;
•taxes, including payroll taxes for employees, state and local business taxes;
•telephone service fees;
•travel to business conventions, including transportation, lodging and food;
•wages and benefits paid to employees.
Stephen Fishman is a tax expert, attorney and author who has published 18 books, including "Working for Yourself: Law & Taxes for Contractors, Freelancers and Consultants," "Deduct It," "Working as an Independent Contractor," and "Working with Independent Contractors." He welcomes your questions for this weekly column.
Copyright 2011 Inman News
All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.
By Stephen Fishman, Friday, February 18, 2011.
Inman News™
These may not be the worst of times for real estate professionals, but they certainly are not the best either. To add insult to injury, it is now tax time.
However, there's one thing you can do to help keep your head above water: Take all the tax deductions to which you are entitled.
Tax deductions really add up
Many people, even sophisticated real estate professionals, don't fully appreciate just how much money they can save with tax deductions. To understand the full value of your deductions, you must add up your total savings in federal and state taxes, and self-employment taxes.
Additional resources:Internal Revenue Code Section 179
For example, if you're single and your taxable business income is $100,000, every dollar you deduct from your taxable income will save you close to 50 cents in taxes. This includes 28 percent in federal income taxes, 15.3 percent in self-employment taxes, and an average of 6 percent in state income taxes.
Additional business deductions are worth less if your income exceeds the $100,600 Social Security tax ceiling, because you don't have to pay the 12.4 percent Social Security tax.
Article continues below
Advertise with Inman
For example, if you're in the 33 percent income tax bracket, an additional deduction will be worth 33 percent (in federal taxes), plus 6 percent (in state taxes), plus 2.9 percent (in Medicare taxes). This adds up to 41.9 percent. Still not bad.
What can you deduct?
There are dozens of possible tax deductions for real estate professionals. Any expense for your real estate business is deductible if it is:
•ordinary and necessary;
•directly related to your business; and
•reasonable in amount (see: Internal Revenue Code Section 162).
An expense doesn't have to be indispensable to be necessary; it need only help your business in some way -- even if it's a minor way. A one-time expenditure can be ordinary and necessary.
However, you cannot deduct personal expenses. For example, the cost of a personal computer is a deductible operating expense only if you use the computer for business purposes; it is not deductible if you use it to pay personal bills or play computer games.
If you buy something for both personal and business use, you can deduct only the business portion of the expense. For example, if you buy a cellular phone and use it half of the time for business calls and half of the time for personal calls, you can deduct only half of the cost of the phone as a business expense.
Subject to some important exceptions, there is no limit on how much you can deduct, as long as the amount is reasonable and you don't deduct more than you spend. As a rule of thumb, an expense is reasonable unless there are more economical and practical ways to achieve the same result. If the IRS finds that your deductions were unreasonably large, it will disallow them or at least disallow the portion it finds unreasonable.
Checklist of deductions
Here's a checklist of common expenses for real estate agents and brokers that you can use to make sure you don't miss any deductions this year:
•advertising expenses, including websites, mailing lists, newspaper advertising, fliers, online advertising, postcards, promotional materials, logo clothing, and anything else you pay for to market your real estate business;
•bookkeeping, accounting and legal fees;
•business gifts (up to $25);
•business meals and entertainment (only 50 percent deductible);
•cab fares for business travel;
•car and truck expenses, including business mileage, depreciation, insurance, interest on car loans, lease payments, license plate fees, parking expenses, and tolls;
•cell phones;
•computer software;
•computers;
•desk fees;
•education to maintain or improve required skills (but not courses you take to pass the real estate licensing exam);
•home office expenses (if you qualify);
•insurance, including health insurance, errors and omissions insurance, business liability insurance, and business equipment insurance;
•interest, such as interest for business loans, interest paid on business credit cards;
•Internet access fees;
•map books;
•office equipment (cost may be deducted in one year using bonus depreciation or IRC Section 179);
•office expenses, including rent, cleaning and maintenance, and utilities;
•office supplies;
•postage;
•professional dues and fees -- for example, multiple listing service dues and dues paid to the local Chamber of Commerce, Realtor associations, and real estate license renewal fees;
•referral fees and commission rebates;
•retirement plan contributions;
•subscriptions to professional journals;
•real estate franchise fees;
•taxes, including payroll taxes for employees, state and local business taxes;
•telephone service fees;
•travel to business conventions, including transportation, lodging and food;
•wages and benefits paid to employees.
Stephen Fishman is a tax expert, attorney and author who has published 18 books, including "Working for Yourself: Law & Taxes for Contractors, Freelancers and Consultants," "Deduct It," "Working as an Independent Contractor," and "Working with Independent Contractors." He welcomes your questions for this weekly column.
Copyright 2011 Inman News
All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.
22 February 2011
Tech Watch: Reach Out and Text Someone
Texting is becoming a common way to correspond. But that doesn't mean it's always the best way.
By Michael Antoniak
April 2009
If phone calls and e-mail are still your preferred way to share information with clients, it might not be long before text messaging takes priority. According to the 2008 REALTOR® Technology Survey, 35 percent of real estate practitioners use cell phone texting on a daily basis; another 27 percent text on at least a weekly or monthly basis.
The general public has also embraced the convenience of texting. While the number of phone calls made or received by wireless subscribers in the United States remained relatively steady from 2006 through mid-2008, text messaging skyrocketed nearly 450 percent, according to a Nielsen Mobile analysis.
Many real estate practitioners have recognized this phenomenon and are incorporating text messaging into their client communications. "One of the first things I ask when I meet new clients is if they can receive text messages on their phone, and if they would like to be updated by e-mail or text," says Richard Van Kluyve, broker-associate with Century 21 Premier in Mount Juliet, Tenn.
About half of Van Kluyve’s clients tell him they prefer text, including one house-hunting couple in their 20s who’ve taken texting to a whole new level: "We may have spoken on the phone 10 times, but we’ve probably sent 100 text messages back and forth in the weeks I’ve been working with them," he says.
But don’t just assume that only younger clients are apt to text. With texting now available on all mobile phones, consumers of all ages are appreciating the ease of using their keypad to send real estate practitioners a quick question, arrange a meeting, or comment on a home they’ve toured. In fact, a whole class of mobile marketing services has emerged to deliver listing data directly to a consumer’s cell phone—and capture leads for real estate practitioners in the process. Once you’re subscribed to services like Cell Signs, House4Cell, or RI Tracker, just to name a few, you can post a special text code on your listings’ For Sale signs. Consumers who drive by the home can punch the code into their phone to receive a return message with property information and photos. Van Kluyve hopes for the day when clients can even receive text alerts as listings are added to the MLS, similar to e-mail alerts that are now commonplace.
Even as text messaging goes mainstream, there are times when it’s better to do things the "old-fashioned" way—with an e-mail, a phone call, or a meeting. Texting’s casual convenience is ideal for any situation in which a quick and informal message will do. Messages that are long or complicated or that can potentially spark questions from clients are better left to other media. Here are some other general guidelines:
•Don’t text without permission. Ask clients if it’s OK for you to send them text messages. They may not be familiar with the medium, or they may simply be annoyed by it. Depending on their phone service, they also may have to pay for received messages. And never text a prospect you don’t know; it can land you in legal trouble. A pending revision to the CAN-SPAM Act prohibits sending unsolicited text messages to a wireless phone number unless the recipient has given prior consent or you have an established business relationship with the recipient. Also, the federal Do-Not-Call registry applies to text messaging.
•Learn the lingo. Texting is all about fitting the most words into a maximum of 160 characters for the sake of speed and convenience. Even if you feel silly using shortcuts like BTW (by the way), QQ (quick question), or THX (thanks), you’ll want to be familiar with the terms so you can decipher clients’ messages. For a list of common abbreviations, visit Webopedia (www.webopedia.com).
•Be considerate. Texting can quickly become addictive. But when meeting with clients or colleagues, don’t be absorbed with your cell phone—reading messages and hammering out replies. Let clients know at the outset if you’re anticipating an important message that will require your immediate attention. Otherwise, turn your ringtone off and reply to messages when the meeting’s over.
•Set limits. When you encourage others to text you, you’re implying that you’ll always be ready to take their message—and customers often expect a quick response. You may want to establish hours you’ll be available.
Mike Antoniak is a journalist and technology expert with a focus on real estate applications.
By Michael Antoniak
April 2009
If phone calls and e-mail are still your preferred way to share information with clients, it might not be long before text messaging takes priority. According to the 2008 REALTOR® Technology Survey, 35 percent of real estate practitioners use cell phone texting on a daily basis; another 27 percent text on at least a weekly or monthly basis.
The general public has also embraced the convenience of texting. While the number of phone calls made or received by wireless subscribers in the United States remained relatively steady from 2006 through mid-2008, text messaging skyrocketed nearly 450 percent, according to a Nielsen Mobile analysis.
Many real estate practitioners have recognized this phenomenon and are incorporating text messaging into their client communications. "One of the first things I ask when I meet new clients is if they can receive text messages on their phone, and if they would like to be updated by e-mail or text," says Richard Van Kluyve, broker-associate with Century 21 Premier in Mount Juliet, Tenn.
About half of Van Kluyve’s clients tell him they prefer text, including one house-hunting couple in their 20s who’ve taken texting to a whole new level: "We may have spoken on the phone 10 times, but we’ve probably sent 100 text messages back and forth in the weeks I’ve been working with them," he says.
But don’t just assume that only younger clients are apt to text. With texting now available on all mobile phones, consumers of all ages are appreciating the ease of using their keypad to send real estate practitioners a quick question, arrange a meeting, or comment on a home they’ve toured. In fact, a whole class of mobile marketing services has emerged to deliver listing data directly to a consumer’s cell phone—and capture leads for real estate practitioners in the process. Once you’re subscribed to services like Cell Signs, House4Cell, or RI Tracker, just to name a few, you can post a special text code on your listings’ For Sale signs. Consumers who drive by the home can punch the code into their phone to receive a return message with property information and photos. Van Kluyve hopes for the day when clients can even receive text alerts as listings are added to the MLS, similar to e-mail alerts that are now commonplace.
Even as text messaging goes mainstream, there are times when it’s better to do things the "old-fashioned" way—with an e-mail, a phone call, or a meeting. Texting’s casual convenience is ideal for any situation in which a quick and informal message will do. Messages that are long or complicated or that can potentially spark questions from clients are better left to other media. Here are some other general guidelines:
•Don’t text without permission. Ask clients if it’s OK for you to send them text messages. They may not be familiar with the medium, or they may simply be annoyed by it. Depending on their phone service, they also may have to pay for received messages. And never text a prospect you don’t know; it can land you in legal trouble. A pending revision to the CAN-SPAM Act prohibits sending unsolicited text messages to a wireless phone number unless the recipient has given prior consent or you have an established business relationship with the recipient. Also, the federal Do-Not-Call registry applies to text messaging.
•Learn the lingo. Texting is all about fitting the most words into a maximum of 160 characters for the sake of speed and convenience. Even if you feel silly using shortcuts like BTW (by the way), QQ (quick question), or THX (thanks), you’ll want to be familiar with the terms so you can decipher clients’ messages. For a list of common abbreviations, visit Webopedia (www.webopedia.com).
•Be considerate. Texting can quickly become addictive. But when meeting with clients or colleagues, don’t be absorbed with your cell phone—reading messages and hammering out replies. Let clients know at the outset if you’re anticipating an important message that will require your immediate attention. Otherwise, turn your ringtone off and reply to messages when the meeting’s over.
•Set limits. When you encourage others to text you, you’re implying that you’ll always be ready to take their message—and customers often expect a quick response. You may want to establish hours you’ll be available.
Mike Antoniak is a journalist and technology expert with a focus on real estate applications.
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