Archive for Realty
August 21, 2008 at 4:32 pm · Filed under Realty, Web Of Home Improvement
As the price of home heating oil, natural gas, electricity and other forms of energy continue to rise, many bill payers are are wondering just how far the cost of fuel can rise. Some homeowners however are considering the installation of the solar power equipment that will allow them to channel the energy of the sun to provide energy for their dwellings.
When fuel prices were low, it was unnecessary to justify the upfront outlay of money required to install solar panels, solar water heaters and similar equipment. The reason was simple to understand - it would simply take too long to recoup the cost of the equipment in the form of lower energy bills.
But prices are now higher than many of us ever expected. As energy prices continue to go up, the amount of time required to recoup the upfront cost goes down. In addition, a number of state and local tax incentives make it even easier for homeowners to go solar and save money right away.
Solar power has already proven itself and its ability to lower energy costs substantially, and more and more homeowners are taking a serious look at converting their residences to solar power. The costs of installing solar panels is still high, with a typical two kilowatt installation of solar panels from OVR Solar costing about £10,000 / ($20, 000) in most cases, but special tax incentives and long term energy savings can help homeowners recoup those upfront costs faster than ever before.
Subsidies are also now available. This tax savings can help eligible homeowners recoup some of the costs of installing solar panels and solar water heating systems up front, in addition to the energy savings they will enjoy down the road.
Some states will offer homeowners who install qualifying solar panel or water heating systems to write off a portion of the cost against tax liability, while others will provide a standard tax credit based on kilowatt usage. Still others provide tax relief in the form of property tax reductions or elimination, and many states provide businesses, government agencies and commercial enterprises with special tax breaks as well.
Try running some estimates once you have some figures to see how long it might take for you to break even at today’s fuels prices. However, as the prices for heating oil, gas and other forms of traditional energy continue to soar, demand for solar installations will mirror this growth.
Take the first step to energy self sufficiency with OVR Solar.
June 28, 2008 at 10:29 am · Filed under Realty
Real Estate email marketing
Do you remember the old School girl/boy game of “Around the World”, or “Around the Bases”? If you got a kiss you got to First Base. A french Kiss was Second Base. Read further to find out how to hit a Home Run!
Are You Trying to Hit a Home Run With Your Prospects Without Asking Them on a Date?
Most prospects are only leaving their phone number about 1/3 of the time. So 2/3 are leaving just a name and email. If you don’t have a strategy to approach this group, you are losing big time because your cost per lead skyrockets.
If you invest $9,000 a year into your online real estate marketing campaign. And you get 500 leads a month, your Cost per Lead is $1.50*. But if you aren’t touching your email only leads, then you are affectively only getting 165. Your Cost Per Click jumps over three times to $4.55!
*$9000 a year/12=$750 a month. $750/500 leads=$1.50;$750/165=$4.55)
Email marketing is the most important part of online marketing. Yet, I find that it is the least understood, and least time spent by Online Realty professionals. Some agents will spend all day on their website. They will effort on SEO to capture a real estate lead. Yet, they never spend the time to strategize on how to court the opt in subscriber.
Marketing your real estate services thru email is about getting to the first date. Then the second, and then third. Until there is a marriage whereby you both swear allegiance to one another. And of course like many modern day relationships, this guy or gal will break this allegiance as soon as the scent of the next “hottie” walks past.
You may not even get to First Base let alone hit a home run. And your prospect may not even let you go on a second date. But one thing is for sure you will never get to a sale unless you start at the beginning. Then you can get to First Base….and second and so on. But most agents try to steal a kiss, without even asking the prospect out!
Instead of being “easy”, think of your prospect as that guy or gal you have to beg and beg to go out out with you. And then after all that finessing she only agrees to go to breakfast! You have to strategize to win her over. You bring flowers. You do apparant random acts of kindness just to get to a second date and maybe first base. Before Free Love, this was called Courting.
Your prospect is not a product of the 60’s. They believe that their loyalty comes with a cost. They want to be courted and you to prove yourself worthy. And making your listings available or offering a free report is a nice olive branch, but this frigid Diva expects some major courting. Do you really want this gal? Are you going to take care of her in good times and bad? Then you gotta pah-roove it.
The fact is that the vast amount of your prospects will not leave a phone number, and most won’t take any serious action for several weeks. As I explained in one of my Ten Commandments of Online Marketing, people typically come to a real estate website to compare property. And they just do not know what they do not know.
At this point there is very little or no loyalty to you or your website. As long as the info flows, and they can get your MLS listings they will be happy enough to revisit your site, if for only the new home listings.
So in order to breed loyalty and afinity you must do a few specific actions.
Get yourself an Autoreponder/Drip Email system.
These automatic email systems communicate with your prospect while you sleep. You write your letters and articles once. And the system will send a mailer on pre-programmed days for ever. Until your prospect raises their hand and says I am interested to take this relationship to the next level.
Take your list and segment them.
Why would you segment your visitors? Because they think they are the most important person in the world. And if you want them to think you are the most important Realtor in the world, you have to make them important first.
This goes eons beyond dividing your prospects into buyers and sellers, and hot, medium and cold. Your email communications to a 30 year Vet at IBM should convey a unique tone and context diferent than your typical communication with say a self employed-entreupreneiral Contractor.
Educate & Interact
When you can get someone to have an “aha” experience, you often times will etch out a piece of their brain for you. Congratulations! You have now risen above just Real Estate agent. You are above the rest because you have become not just someone who sells real estate. But someone who cares enough to take the time to care for this person who is the most important person in the world.
How? Teach them and get them to move along the sales funnel by bringing them to your site to learn and or get valuable and free reports.
I am not talking about the typical pre-written Real Estate articles and newsletters. You need to pour blood and write from your experience, from your heart. Would you send the object of your affection a templated love letter from a book? What would her reaction be? Thats the same reaction you will get from your prospect.
Your personality and expertise will shine thru and you will seperate yourself from all the others whom are too lazy to prove that they are an expert. Which is why when you do it, you will profit handsomely.
As you get your real estate prospect to interact with you and your site. You can ask them to reveal more and more until you have enough information to segment them, and take them to the next level of your relationship. And then perhaps they will want to do more than just “go out with you”.
Search Engine Marketing is continually changing. The real estate profession is getting more and more compeititve online. Find out how to succeed online at Spider Juice Technologies
May 30, 2008 at 12:09 pm · Filed under Realty
What most people loosely refer to as ‘real estate flipping’ these days is no flipping at all - it is reselling for a profit. This is so because most market participants finalize the transaction before reselling their newly acquired interest in land for a mark-up. The implication is that they actually use their own money to complete - a classic real estate investment. The true fine art of ‘flipping’ houses or other real assets, on the other hand, consists in reselling an interest prior to closing. A Buyer of a subjects-free contract of purchase and sale will find another Buyer for the same interest ready, willing and able to purchase prior to the first Buyer completing the deal. The implication is that the first Buyer merely puts the deposit out of his own funds - a classic real estate speculation.
True real estate flipping, albeit not an illegal practice per se, will get you in trouble more often than not and notwithstanding anything Donald Trump will have to say on the subject. In fact, it’s gotten him in trouble as well. It is also a practice not favorably looked upon by many Boards and professional associations within organized real estate. At the centre of it all is the definition of market value with its element of proper exposure to market conditions. Imagine a purchaser that convinces a seller to accept an offer of, say, $300,000 for a single family detached house with completion in three months and a $15,000 deposit. Then, about half a way through the purchaser finds a second buyer willing to pay $350,000 for the same interest and to complete on the same day as the first contract. Come completion date the original purchaser will close on the second contract first. As it takes at least one day for documents to be couriered to the respective conveyancers and about a month (in British Columbia) for the transfer of ownership to be recorded and the new title registered at the Land Title Office, this little trick will allow the original Buyer to walk away with a neat $50,000 in his pockets, without having used his own money practically at all. As market value is, by definition, the price that a real property is reasonably expected to fetch after adequate time and exposure to market conditions, a real question arises as to whether or not the Seller in this example has received full market value for his property.
Flipping potentially encompasses an element of negligent misrepresentation, at the very least, all the more so if someone with special skills and knowledge - such as a Realtor - is involved. But even if no real estate professional is involved, the Courts have long since ruled that under certain circumstances mere silence or half truths may have the same effect as misrepresentation and are, thus, actionable at law. In some cases such misrepresentations may be even qualified as fraudulent. As no reasonable Seller will, if given a choice, sell his property for $300,000 as opposed to $350,000 lawyers have been quick at crying out loud foul play when contacted by disgruntled sellers. But beyond the legality and morality of flipping practices, there is a real economic question as to whether flipping merely contributes to the speculative inflationary ravages that ultimately reveal themselves detrimental for the entire economy, especially when they involve large ticket items such as real capital assets. This is not the case when it comes to investing or, for that matter, reselling for profit, which is looked upon as a regular part of doing business in any market. Which, then, opens up again the ages old debate going on in the economic community as it relates to the impact of speculation vis–vis investment.
The role of speculators in a free market economy is to absorb risk and add very little liquidity to the market place. In fact, more often than not, speculators will reduce market liquidity by inflating prices - the principal effect of speculation - and by moving their newly made riches out of a particular market for use elsewhere. This would be the case in our previous example if the first purchaser, upon completing the first transaction decided to abandon real estate and invest his capital, including the $50,000 profit, into the stock market. Moreover the effect of price increases, particularly in the short run, is to reduce the pool of buyers thus hampering demand and reducing prices even further - the classic economic bubble. Investors, on the other hand, play an entirely different role. In theoretical Economics the term ‘investment’ refers to the purchase and holding of capital goods, which are not instantaneously consumed - i.e. sold for profit - but, rather, used at a later date. Therefore a purchaser that buys a fixer-up, remodels and sells it later on for a mark-up is an investor, not a speculator. The same is true for a buyer of a property under foreclosure.
Risk management when it comes to investment is also well defined. More particularly, investment is in direct function of the underlying relation between personal income or capital appreciation, depending upon the nature of the subject property being bought and sold, and interest rates. An increase in personal income, just like an increase in capital appreciation will encourage investment to a higher degree which, in turn, will spur demand causing a proximate levitation of prices and subsequent economic expansion. Conversely, higher interest rates will discourage investment by heightening the cost of financing resulting in a lower demand and, thus, depressing prices and causing an economic constrain. Even if an investor decides to use his own funds exclusively, the measure of risk will be given by the equation between the underlying opportunity cost of investing versus the lending of those same funds for an interest profit, a process known as maximization of use of capital resources.
It all ultimately boils down to the business plan embraced by the singular market participant. If the objective is to make a ‘quick buck’ through flipping and short term speculation, the measured risk of the acquisition is considerably higher and, in ultimate analysis, no better option than the leveraged capital appreciation through investment holding.
Luigi Frascati
Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He holds a Bachelor Degree in Economics and maintains a weblog entitled the Real Estate Chronicle at http://wwwrealestatechronicle.blogspot.com where you can find the full collection of his articles. Luigi is associated with the Sutton Group, the largest real estate organization in Canada, and is based with Sutton-Centre Realty in Burnaby, BC.
Luigi is very proud to be an EzineArticles Platinum Expert Author. Your rating at the footer of this Article is very much appreciated. Thank you.
April 17, 2008 at 7:54 pm · Filed under Realty
Refinancing your mortgage after bankruptcy is actually the same as replacing it with an entirely new mortgage. The most common reason for refinancing your mortgage after bankruptcy is to get a lower interest rate and save money over the length of your mortgage. It is possible for you to lower your payments and save money each month and there has never been a better time to refinance. Mortgage lenders will consider refinancing your mortgage after bankruptcy because the risks involved in refinancing an existing mortgage are extremely low.
You can receive quotes from multiple lenders who are competing for your business, even if you have filed bankruptcy in the past. A quick online application will put you in touch with lenders who are experts in refinancing mortgages after bankruptcy. You can be pre-qualified in just minutes and the application is quick and easy. Refinancing your home, even after bankruptcy, can lower your payments and even give you extra cash for that well-deserved vacation, to consolidate bills, or to fund your child’s college education.
If you thought refinancing your mortgage after bankruptcy was impossible, you will be pleased to learn that you can refinance and dramatically lower your monthly payments with one short online application. Lenders who are anxious to help you find the best refinancing package available for your special circumstances will contact you within as little as 24 hours after receipt of your application. A bankruptcy does not have to mean you are stuck with a high interest rate and less than desirable mortgage terms. Mortgage lenders have hundreds of loan programs that will help you meet your financial goals.
If you have been through bankruptcy and are wondering if it is possible to refinance your mortgage, complete a short online application today and learn how much money you can save each month and over the entire length of your mortgage. The difference could mean thousands of dollars in your bank account over time. Get the information you need and learn how you can lower your monthly payments and get the cash you need for bills or unexpected expenses. Refinancing your home is the best way to take advantage of the lowest interest rates in many years.
Refinancing your mortgage after bankruptcy is not impossible. Get free quotes today from multiple lenders with one simple online application. You have nothing to lose and you will find that mortgage lenders are prepared to offer you better terms than you thought possible. Lowering your mortgage payments and consolidating bills can make all the difference in your financial situation. You can be on your way to financial freedom when you contact mortgage lenders who will give you expert advice and offer you numerous choices in refinancing your home, even after bankruptcy.
To view our list of recommended refinance lenders online who specialize in bad
credit mortgage loans, visit this page:
Recommended
Refinance Lenders for People With Bad Credit or Bankruptcy.
Carrie Reeder is the owner of ABC Loan Guide, an informational loan website with articles and the latest news about various types of loans.
April 14, 2008 at 8:16 pm · Filed under Realty
If you are buying or selling a home, the chances are good you struggle with the meaning of descriptive real estate terms. Here are explanations and definitions for more terms.
“Living Room” & “Family Room”
When a home has both a living room and a family room, we know which is which. It used to be that when an ad mentioned a family room, we could assume it also had a living room. Now some builders are building houses with something akin to the first use of “Great Room” above and calling it the “Family Room” on the floor plan. Thus houses and their terminology seem to be evolving. I suppose in the new builder speak we should just think of the room as an informal family living room.
“Patio” & “Terrace”
Both are outdoor living areas paved with something like slate or brick. A patio is level with the ground around it. A terrace has adjoining areas of ground which are higher, or lower, or perhaps both.
“Solarium,” “Sun Room,” “Florida Room”
These terms are used to describe rooms with lots of windows (often on three sides). Many times these areas also have skylights. The choice of what to call them seems purely personal. They tend to be charming, bright, sunny places in which to over winter plants and sit in the garden in chilly or downright cold weather.
“Jack and Jill Bath”
A bathroom with two doors into it. It is frequently situated between two bedrooms with doors to each. Sometimes the doors are into a bedroom and into a hallway.
“Waterfront” vs. “Water View”
Waterfront property actually has a common boundary with (frontage on) the water. Sometimes the property line actually goes into the water. Water view just means water can be seen from the property. Sometimes there is a beautiful view. Sometimes it means the water can be seen from one upstairs window when the leaves are off the trees! Also, many times a new structure might block the view at some time in the future unless there is a protective covenant or something to prevent it.
If you can get the verbiage down, you’ll be way ahead in the real estate game. Look for future articles on this subject or visit our site to read more terms.
Raynor James is with the FSBO site - www.fsboamerica.org - FSBO homes for sale by owner. Visit our “sell my home” page - www.fsboamerica.org/seller.cfm - to sell your house yourself with a free 1 month listing.
