Top Real Estate Articles

What is a Real Estate Agent?

Aug 20, 2009 Real Estate

Real Estate Agents assist people with buying and selling houses. In some states, a real estate agent is required to have a brokers license, and in other states, they only need a sales agent license. Real estate agents can work on their own or for a real estate company. They can even specialize in particular type of property. Income received by a real estate agent will normally be in the form of a commission. After a home is sold, agents will receive a percentage of the amount that the buyer purchased for the home. The commission amount will vary.

Real Estate agents will often work long hours that can extend into the evenings. To acquire a real estate license, one must be a graduate of high school and complete a real estate course. Good real estate agents will be personable and be motivated to sell houses. Real estate agents work for real estate brokers.

Because buying a house is such an important life investment, many people enlist the services of a real estate agent. Real estate agents must be able to provide the following functions:

- They must know the value of a home - The agent takes potential buyers to view homes that are for sale. The buyer will have already discussed how much they can afford and what type of home they are looking for. For instant, the size of the home, number of bedrooms and bathrooms, the location, amenities, and type of neighborhood. - They must know what the neighborhoods in the town or city are like. - They must know all of the laws that have to do with buying or selling a home. - Agents can offer advice to home buyers about where to get a home loan - The agent must fill out specific forms that convey to all involved that the house has been purchased. Both the buyer and the seller of the home sign these forms which will involve the services of attorneys. - They help buyers submit an offer, and then will continue to negotiate a price if the offer is rejected. - They must disclose any flaws that a home may contain. - They help assess the price of a home and list it on the open market.

People will normally use one real estate agent. Using the services of a real estate agent can be of great benefit because they have many real estate contacts with other professionals in the realty industry. This can include real estate attorneys, mortgage lenders, and home inspectors.

When people commence on buying or selling a home on their own, they will quickly realize there is much involved in the process. Because there are so many details and information to understand and steps to follow when selling or buying a home, it pays to have the services of a qualified real estate agent. Their knowledge and experience will take the aggravation out of the process so that you can focus on moving into your new home.

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Remain Positive About Bankruptcy

Aug 18, 2009 Mortgages

Bankruptcy is the unfortunate situation that more and more people are finding themselves in today because of the terrible economic conditions. You might be one of those people, and if you are, chances are you feel hopeless. However, this does not have to be the case; because, although the road to recovery from bankruptcy may not be easy or simple, it is in fact doable. Consider the following advice for those who are about to file for bankruptcy or those who are suffering because of a recent bankruptcy filing - it may be helpful.

Once you file for bankruptcy, the first thing to do is contact your creditors because there are certain assets that are non-exempt from bankruptcy including cash and certificates of deposits. These non-exempt assets will be required to be returned to the court-appointed trustee during your case. However, this is just one part of the long bankruptcy process, and there is a long road to recovery in the future.

Do not be surprised if you find it tough to get a loan for the next few years, because most lenders out there are most likely skeptical about lending to someone who has recently filed for bankruptcy. Most people with a bankruptcy on their record will not be able to qualify for a home or car loan. However, if they do manage to qualify for a basic loan or a credit card, typically the interest rate will be extremely high.

Although, it may seem hopeless, what you do after bankruptcy can make the difference in your credit and your financial future; so, try your best to remain positive. A positive attitude will go a long way in a bankruptcy situation, even though you may not think so. There is so much truth to the theory, “the power of positive thinking,” so apply the theory to your situation and use it to your advantage.

For those that own cars, you will obviously still need them to get around, therefore talk with your car lender about signing a reaffirmation agreement. This agreement specifies your willingness to continue making payments and to act in good faith, thus allowing you to keep the vehicle. Remember, however, that if you do not act in good faith, your vehicle could be repossessed and sold and you will be liable for any deficiency.

An important part of recovery after bankruptcy is establishing new credit lines, which as mentioned above can be difficult because creditors are often hesitant to give you access to credit. While it is true that most traditional banks will not approve you, some banks will allow you to deposit money into an account and give you a credit card attached to that account, also known as a secured credit card. Although this may not seem like the greatest option, it will help you to eventually be eligible for a regular credit card.

Besides working to build better credit for the future, you will also want to access your credit report and make sure that it is clean. There are credit bureaus - Equifax, Experian, and Trans Union - that you can check with to make sure that your debts have been eliminated due to bankruptcy. If the reports do not show this, talk to the bureaus and get them updated.

Also, many people think that they should co-sign with others to help their credit during this time period. However, this is not always smart because, if the loan goes bad, you will be held responsible and it will be bad for your credit. Although it may seem like a good way to build your credit, the risk is simply not worth it.

If you are able to get new credit cards, pay them off in full if possible. Some people assume that they should keep a balance because it is better for their credit; however, it is not always financial smart. You never know what financial emergencies you could have in the future, and therefore, it is a great idea to pay in full so you do not have credit card bills to deal with at the same time as another crisis.

When you do file for bankruptcy, be aware that people will ask you about it, even though you might feel as if it is an invasion of privacy. Many crazy people file for bankruptcy, and chances are you are normal, just going through a difficult time; so, you should be willing to explain this to people, especially creditors so they do not wonder. Get your story straight so you know what to tell people regarding your situation.

Remember - stay positive. Time goes quickly and if you can follow the advice above the recovery process will go a lot smoother than you anticipated!

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What Are Market Orders? (Part II)

Aug 16, 2009 Real Estate

Stop Loss Orders: If the market moves against your position, stop loss orders are used to limit losses. If you dont use stop loss orders, you are leaving yourself at the mercy of the markets. A dangerous proposition! Stop loss orders are critical to your trading survival. The traditional stop loss order does just that. It stops losses by closing out an open position that is losing money.

Stop loss orders are on the other side of the take profit orders but in the same direction. If you are long, your stop loss order would be to sell but at a lower price than the current market price. If you are short, your stop loss order would be to buy but at a higher price than the current market price.

Trailing Stop Loss Orders: A trailing stop loss order is a stop loss order that you set at a fixed number of pips from your entry rate. As the market price moves, the trailing stop order adjusts the order rate but only in the direction of your trade.

Suppose you are long on EUR/CHF at 1.2654. You set the trailing stop loss order at 30 pips. The stop will initially become active at (1.2654-30=) 1.2624. The trailing stop loss order continues to adjust itself higher as the market moves higher. The stop adjusts itself and will become active at 1.244 if the EUR/USD rate goes up to 1.2674.

When the market puts in the top, your trailing stop will be 30 pips below the top. If the market ever goes down by 30 pips from the top, the trailing stop loss order will be triggered and your open position closed. So in our example, you are long at 1.2654. You set the trailing stop loss at 30 pips. The stop order will become active at 1.2624.

Suppose the market never ticks up. Instead goes straight down. You will be stopped out at 1.2624. Suppose the market first rises to 1.2664. Then it declines 40 pips. Your trailing stop loss order will first rise to (1.2664-30=) 1.2634. Thats where you would be stopped out.

You must have heard the saying often while trading: Cut your losses and let your winners run. A trailing stop loss order allows you to do exactly that. The idea is that in case of a possible winning trade, you wait for the market to stage for a reversal. The trailing stop loss order takes you out of your trade instead of you picking the right level to exit on your own.

Using stop loss orders is critical in trading as it helps you in money and risk management. Trading without the stop loss orders is foolish! Never ever do that! So the key to successful trading is to cut losing positions quickly and let winning positions run. This is what a trailing stop loss order does. It helps your winners run and cuts your losses.

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Apartment Advertisement -Prevent Costly Mistakes

Aug 15, 2009 Real Estate

The biggest challenges landlords all across America and in most other parts of the world face are vacancies.

Vacant units or vacated apartments translate to lost revenues because, as one might expect, vacancies do not bring in rental money. What’s more, vacant apartments force landlords into quick action with a long list of to-dos in hand and that means extra expanses.

Let us now take a close look at all that is involved when a landlord finds him or herself facing a vacant unit.

Besides going through the closing transaction of (depending on the particular circumstances) refunding or retaining the security deposits which were submitted when the tenants first signed their rental contract / lease / agreement, landlords must also:

Inspect the unit for anything that is broken, that is missing and that is damaged. Fix anything that is broken, mend anything that is damaged and replace anything that is missing. Don a fresh coat of paint. Perform a thorough cleaning. Possibly add renovations to increase the value of the newly vacant unit and the entire property.

Every day in which an apartment remains vacant increases the landlord’s loses. And thus, putting it out on the market with a variety of apartment rental advertising resources while it is still being worked on is not only essential but it is also a smart apartment marketing plan.

Today, landlords have many options for advertising their apartments than their predecessors ever had.The following are the more frequently used:

Do Not forget that it’s always beneficial to use a company well experienced in rental advertisement to get the best outcome..

“For Rent” signs.Posting signs in front of apartment buildings that have vacancies is an advertising option that is time-proven and has been around for years. It is easy, it is virtually cost free and it works because many potential renters like to drive around neighborhoods to scope out the community and will, inevitably, be alert by such signs.

To increase the visibility of “For Rent” signs, landlords might want to conspicuously tie a few multicolored helium-filled balloons to them. Landlords might also consider posting several “For Rent” signs facing in different directions.

Box with fliers. Real estate agents who sell properties print up informative flyers and place them in a box attached to a post in front of the property. Many landlords have also adopted this technique which is effective yet cost efficient.

Bulletin boards. Posting flyers on communal bulletin boards at supermarkets, churches, cultural and civic centers, college campuses, libraries, etc. has proven to be very effective and very inexpensive.

Referrals.Acquiring potential tenants through referrals from friends, relatives and existing tenants usually harbor results in very successful.

Submitting ads. Submitting ads in the classified sections of local and national newspapers may involve a substantial expense but it will widen the pool of applicants.

Internet. In today’s hi-tech world, everybody turns to the Internet for commerce, for information and so on. Needless to say, there are very many websites which provide valuable services for both sides - the landlords and potential tenants.

Once the potential tenants and the landlords meet up, the landlords’ job continues into the next phase as the interviewing process begins and is then followed up with, checking referrals, obtaining credit checks, signing of rental contracts / leases / agreements and the transfer of funds. But that is a topic for another day.

Tags: a, apartment, Apartments, b, business, business;finance, e, l, leasing, Leasing Renting, p, r, Real Estate, real;estate, renting

Understand How to Use Risk to Reward Ratio

Aug 15, 2009 Real Estate

Many new traders think that a good entry into the markets is the key to success. Unfortunately, most are wrong. A risk to reward ratio compares the potential for reward with the potential for loss.

Risk is measured by the pips between the forecasted entry price and the forecasted price at which you want to exit the market in case of a losing trade. Risk is just a measure of how much you can lose in a trade. A trader must view each trade as a business transaction.

Reward is calculated by the pips between the forecasted entry price and the forecasted price at which you would want to exit the market in case of a winning trade. Reward is the expected number of pips that you want to make in a trade that will be a winner.

To manage risk properly, you need to look for high probability trades that have a risk to reward ratio of 1:2 or greater. This depends on the time frame that you want to trade. For example, if you are a day trader and you are looking for making only 30 pips in a trade, a stop loss of 15 pips is sufficient for the risk to reward ratio of 1:2.

However, suppose you are a swing trader or a position trader with a longer time frame. Your profit potential will be more on a longer time frame. Suppose you choose 200 pips as your expected profit. You will need to set your stop loss at 100 pips.

Retracements on shorter time frame are much smaller. Retracement on the larger time frame is much bigger. The reason that you need to set a higher stop loss on a larger time frame is that small trends occur within the larger trend. In order to be not stopped out of the trade, you need to calculate your risk to reward ratio appropriately. Due to smaller trends in the larger trends, your trade is going to be recycled.

The second most important thing for traders is minimizing losses, next to maximizing profits. A forex trading system that wins on average only 50% of the time can still be profitable. Most of the traders want to make money. But they dont know how to protect what they currently have.

You have 50% chance of the forex market going your way and 50% chance of going against you. It is just like flipping a coin. Suppose the trade does not develop in your favor and the market is going against you. You should cut your losses by using stop losses. In nutshell, you cut your losses and let your winners run. This simple 50/50 currency trading strategy earns a profit even when a novice trader might experience a loss.

Consider the following different risk to reward ratios. For 2:1 risk to reward ratio, you will need 67% winners just to break even. For 1:1 risk to reward ratio, it means 50% winners to break even. 1:2 ratio means 33.5%. As I have said before, never ever trade when the risk to reward ratio is more than 1:2.

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Top Questions to Ask When Buying a Newly Built Home

Aug 14, 2009 Real Estate

Buying a home is one of the biggest investments youll make in your life. It can be a daunting task, with so many steps in the process and so many questions to ask. If you are considering buying a new construction home, there are specific considerations to take into account. Before making an offer on a newly built house, make sure you make the following inquiries of the homebuilder.

The Home

What options or upgrades are available? If the home you toured was a shell home or a model home, it was likely built without a specific buyer in mind. By asking what types of customization options the builder is willing to offer, you can end up with a new home that is just right for you and your family.

What type of foundation is the home built upon? Your homes foundation is one of the most important elements of the property, as it will carry the entire load of the structure. There are three basic types of foundations available for new homes. These types of foundations include:

- Basement - Crawl space - Slab

Make sure the type of foundation used in the new property is appropriate to the local conditions and the local building tradition.

How thick are the walls? Wall thickness in new homes can be either 2×6 or 2×8. Some builders prefer double wall construction. Thicker walls mean better insulation from the outside elements, which in turn reduces what you spend on heating and cooling.

Does the property have rain gutters? It may seem like a silly question, but you would be surprised. Make sure you find out if the gutters (if they are included) are seamless.

What appliances are included? Find out if you will need to buy a refrigerator, oven/range, dishwasher or washer and dryer, as this will add to your costs if not included.

The Builder How long has the builder been building homes in your area?

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Manhattan Rental Rates are Falling,

Aug 13, 2009 Real Estate

It is unclear how long the current state of our economy will last. Three months? Three years? But one thing’s for certain: the Brissi Group has its eye on the NYC rental market and using the ups and downs for negotiating rents. The Brissi Group is Manhattan’s only real estate brokerage to offer a flat-fee apartment search.

It is not an easy task to determine the condition of any real estate marketplace, but one can not argue with results such as what the Brissi Group has obtained. Renters can now pay substantially lower rental rates than they did in 2008 in all types of apartment buildings, with the exclusion of 2 bedroom units where a doorman is present. As a matter of fact, renters have reported getting rental discounts of nearly 17% less than a building owners first asking price.

When it comes to the tenant and landlord relationship land lords today no longer have the upper hand. They can no longer demand the high prices that they once did because the rental market is the ultimate price dictator. Additionally, due to the slowdown in hiring practices in the city, many renters cant afford to pay exorbitant rents any longer. In short, tenants can now get items that they could not possibly get a few years ago and the Brissi Group can help.

Some landlords are even paying part of all of the brokers fee as a result of today’s soft rental market. Much more typical, a free months rent, although not advertised, is always up for negotiating. The worst case scenario is a no, and you still get the apartment.

A great way to search for apartments in New York City is through the assistance of a flat fee based rental agency where you know the agent is working for YOU not for a commission, Brissi Group’s Flat Fee Rentals NYC rental division is the only such service in the city. Their goal is to find your dream apartment, not to up-sell you.

Figuring out what part of town to live in can be a daunting task; do you live near work? near friends? near family? A good real estate agents knows the ins and outs of the neighborhoods, and the Brissi Group has experts for not just Manhattan neighborhoods but also Brooklyn, Queens, Staten Island, and the Bronx. The company has over 8,000 unique listings to choose from.

In the end, you can live wherever you desire to lay your head. Some people may prefer Harlem, while others may take a liking to the beauty that surrounds the borough of Staten Island. The one who must ultimately lives in the apartment is you and your family and the Brissi Group is there to help.

An honest rental agent is hard to come by these days, but with a no-fee broker you know your agent is working strictly for you. Check out Manhattans only flat-fee real estate rentals at http://www.flatfeerentalsnyc.com/ or contact them by calling 212-738-0880 or send an email to info@FlatFeeRentalsNYC.com

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Advanced Technical Analysis Techniques

Aug 12, 2009 Real Estate

Technical analysis depends on the use of indicators in finding the optimal points for entry and exit for each trade. A number of advanced technical indicators have been developed over the years that are used by the traders to confirm a particular market pattern. Two or more indicators are used in conjunction to confirm whether the markets are trending, ranging etc.

Each chart and technical indicator plays a unique role in the overall analysis process. You need to learn how to use these technical indicators to confirm trending or non trending conditions. The time periods and the technical indicators are useful in spotting interday or intraday turning points caused by large moves, retracements, continuances or reversals.

Your goal should be to observe how each technical indicator shows direction, entry, exit or weaknesses or strength of price action in trending or non trending conditions. Each indicator performs differently in both trending and non trending markets. You need to understand and memorize these differences to make the best use of these tools.

Lets discuss some of the important technical indicators that are popular among the forex traders. Directional Movement Indicator (DMI) combines Average Directional Index (ADX) and the Directional Index (DI). The Average Directional Index measures the strength of a prevailing trend. ADX isolates those periods where the market is not trending. ADX rises when the trend is strong. It falls when the prior confirmed trend or direction is weakening. It measures the trending quality of the market.

Directional Index (DI) is positive DI+ and negative DI-. DI+ and DI- show direction. When DI+ rises above DI-, an upward direction is confirmed. When DI- rises above DI+, a downward direction is confirmed. A strong move in the markets is confirmed when ADX is rising and both DI+ and DI- are apart.

The Stochastic Indicator is often referred to as the overbought or oversold indicator. The Stochastic Indicator identifies swings, tops and bottoms. It measures the relationship between the closing price of a currency pair and its high or low during a specific number of days or weeks.

It does a wonderful job in finding the reversal tendencies in prices. When the price of the currency pair rises, the closing price tends to be closer and closer to the extreme high prices of the currency pair in that time period. Likewise when the prices fall, the closing price tends to fall on average closer and closer to the extreme low prices.

The Stochastic Indicator is considered to be a highly accurate method of picking the tops and bottoms. It is very popular among the traders. This indicator tries to find a correlation between the moving closing price of the currency pair and its reversal tendencies. It is a very useful tool that can be used as a timing aid in knowing when to take action in a currency pair particularly when it is used in conjunction with other technical indicators.

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In USA Who Is The Biggest MOrtgage Lender

Aug 10, 2009 Mortgages

The current economic environment has been quite volatile. This has been most keenly felt by the real estate market and its tangent, the mortgage market. Unlike in the past, most mortgage companies are no longer carefree about handing out large mortgages (or even small mortgages for that matter). Whiles some companies are seeing their success flee during these hard times, some mortgage companies have been able to seize the opportunity offered by this economic climate and actually increase their market share.

The leading lender in the United States is Wells Fargo & Co. They have merged with Wachovia Corp. and this helps to secure their top position even more because of the increase that this merger brought to the business. Wells Fargo & Co. has continued to make loans during the current recession and seems to be barely affected by the poor economy.

Bank of America is the number two mortgage lender in the country but they are presently hampered by their acquisition of Countrywide Financial Corp. Still in the top five mortgage lenders, JP Morgan & Co. and Washington Mutual Bank are still seeing the negative effects of the poor economy. These larger banks are anxious to make mortgage loans but they require borrowers to meet certain standards related to their credit history that smaller institutions may be willing to overlook.

After the acquisition of First Horizon National Corporation, Metlife rose to rank in the top ten mortgage lenders and because of this, their mortgage business has almost doubled in volume over the previous year.

While the big mortgage companies can offer you more loan programs and possibly a larger loan, there are smaller companies out there that are still in the game. They might be worth a look; especially if your credit rating has, shall we say, a few blemishes. It?s all well and good that the big companies have all these programs, but what good are these programs if the big companies don?t want to deal with you because of your imperfect credit. Smaller companies are generally a little more forgiving than their larger counterparts.

However, having said that, it is still imperative that you take care of your credit rating. The better your credit rating, the better your loan and interest rate will be. Before applying for a mortgage, obtain a copy of your credit report and review it for any errors. Then stay on top of your credit obligations, so you can keep that credit score of yours high. Also, make sure you get your payment in on time.

Otherwise, you risk a poor credit standing and the negative effects of that can?t be stressed enough. These days most of the large lenders are looking for really good to perfect credit scores. Again, while the smaller guys might overlook your imperfect credit, there is a higher price for that in the form of a higher interest rate. Over time, the price of the higher rate could easily add up to thousands and thousands of dollars.

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What Are Extended Stay Hotels?

Aug 7, 2009 Real Estate

You may have heard the term extended stay hotel and thought that it sounded like a contradiction in terms. After all, hotels were created to give travelers a place to stay when they were far from home, not as a place to live. But what if your travels keep you far from home for a long period of

If your trip keeps you away from home for months, staying in a traditional hotel would get very expensive. Besides, just how long can a person live comfortably in a one or two rooms.

Hotel rooms are also not equipped with kitchens. In some you may find a microwave and a tiny kitchen, but nothing that would allow you to fix yourself a real meal. This leads to even more expense as you need to eat every meal in a restaurant.

Unfurnished apartments are not usually a viable option for the short term either. Most landlords want you to sign a lease of at least one year. In addition, you will have to wait while you go through the credit check and approval process. After all of that, you still need to furnish it and make sure that you have all of the linens, kitchen utensils, pots and pans, appliances, and on and on. It will take a great deal of money to make an unfurnished apartment into a place that you can live comfortably in for an extended period of time.

Extended stay hotels were developed to solve all of the problems that someone that needs to be away from home for a long period of time may face. Like a hotel room, they can be rented quickly and with out the hassle of an approval process. Like an unfurnished apartment, they give you the room you need to stretch out and be comfortable for a long time.

Better than either of those choices, rooms in extended stay hotels come equipped with everything you need to live a normal life. Most have a full kitchen complete with all appliances and utensils you would need to fix yourself a complete meal. The fact that there are several different rooms means that you can easily entertain, whether you want to have the guys over to watch the game or fix a special meal for yourself and that special someone.

Another advantage is that you will not need to worry about things like whether or not you have clean towels for your morning shower or clean sheets to make your bed with. If you want, most also provide maid service so that you will not even have to concern yourself with vacuuming or dusting.

Extended stay hotels provide the long term traveler with the comforts of home without the hassle of creating a home of your own. They will cost you more than an unfurnished apartment but they are much more convenient and if your stay is going to be less than a year, an unfurnished apartment simply may not be an option. So the next time you need to travel for a long period of time, rush for the closest extended stay hotel and save your time energy and money for the task that took you away from home in the first place.

Tags: a, Apartments, b, business, c, Corporate Housing, e, f, family, h, hotels, o, p, r, Real Estate, rentals, Short Term Rental, t, travel, travel & leisure, travel tips, trips, vacation