The Price of Oil and The Price of Your Home

Friday’s edition of the SJR, 7-25-08, reported the increasing unemployment numbers, the falling home prices nationally, and the June home sales for The Capital Area Association of Realtors. Not much good news to be found in those articles, because that’s the way it is. A reality check if you will. Then today the headlines on page one state gas can easily return to $4 a gallon. You can connect the dots here pretty easily. High gas prices lead to higher food prices, less consumer spending, sending unemployment up, home sales down, and home prices down. Research Professor Bob Podlasek of Bradley University... Read more »

Decide Commercial Property Market Value Before Investing

Commercial property is often used as a source of profit for investors. It can provide great returns with a minimal amount of work. If you are interested in buying commercial real estate, it is important to determine how much the property is worth in terms of market value. This way you will know whether a certain piece of land will be a profitable investment or not. What is a Commercial Property? Commercial property consists of buildings and land that is specifically zoned for business uses, and not for residential living. This includes all sorts of establishments like industrial buildings, offices and hotels. Things like hospitals, malls,... Read more »

Real Estate Bubbles That Keep Floating High

Property values are on the rope in the US, UK and many other countries - and as house values slip there is little homeowners can do as their investment keeps sliding - but wait and hope that their economies recover, and boost buyers confidence enough to get the property markets going again. But there are some areas where the property bubble just hasn’t burst yet, and they’re such niche markets that they might just withstand current economic woes seen elsewhere. Real estate watchers will know that top end London prices rose sharply in the last three years, but less well reported has been how New York’s Manhattan... Read more »

Is “Subject To” for You?

Taking a property subject to the existing loan, is one of the ways in which real estate investors make a great deal of money. While the process is quite simple, it seems to be a clouded issue for some people. First let’s look at how simple the process truly is. The term “subject to” refers to the fact that you will be purchasing the property subject to the financing that is in place at the time. The loan (and any other liens or encumbrances), that is on the property now stays in place. You will be deeded the property by the present owner. You then take over the payments and send the payments to the mortgage company just as the former owner did. They... Read more »

How to Make Tax Adjustments to Your Property’s Value

Tax adjustments to your property’s tax assessed value (”TAV”) are subtractions that will reduce your property taxes. It has been estimated that over 60% of all homes and commercial properties are overvalued. This means that billions, perhaps trillions of unnecessary tax dollars are over-funding our city, county and state governments. The tax assessment system is bias for funding itself, and while it officially promotes that a property owner should take advantage of the property tax deductions they know that most people will only get minimal relief. The real tax reductions are a function of getting beyond... Read more »

Learning About TIC: How Does Subscription Process Work?

The whole TIC thing is very foreign to many people but basically what it refers to is a partnering with other people to purchase a piece of real estate. You get a group mortgage with the other owners, and so instead of owning your space you own a percentage of the building. It is very similar to condos on the market, as one of the main risks lies in the group financing. Depending on how you agree upon the term of purchase you are able to have equal share in the entire property, or you may opt to have one larger share than the other. There are... Read more »

What Effects Will Home Information Packs Have?

If a critique of the property industry and property selling process were to be made the findings would most likely state that it is inefficient and time consuming. This however is set to change with the government’s drive towards home information packs for all residential properties being sold. Hopefully this move will reduce the time spent on buying and selling property whilst clearing up the contractual situation for both parties. But what information will these home information packs contain and underneath the hype, what will they actually do to make buying and selling property easier? Part of the new home information packs will contain... Read more »

Property Sales Tactics To Ensure A Speed Deal

Property sales can seemingly take forever, especially in the current market where many people are waiting for a drop in prices before they decide to purchase. There are however certain strategies that when employed can speed up the sales process and reduce the time your property spends sat on the open market. Here are some of the best tactics, strategies and ways of thinking that will ensure a quick sale. First and foremost you should try and think like a buyer. This is more difficult than it sounds as you must look around your house in an objective manner taking note of any issues that may put... Read more »

An Overview of Bergen, New Jersey Real Estate

If you are looking for a beautiful home that is close to New York City, the New Jersey real estate in Bergen County should probably be on your list of housing options. After all, being located in northeast New Jersey, Bergen County literally overlooks New York City across the Hudson River estuary. It is also home to some of the best shopping, parks, and cultural centers in New Jersey. The population density in Bergen alone is a pretty good indicator of how popular the area has become. With almost 4,000 people per square mile, Bergen is the most populous county in New Jersey. Fortunately,... Read more »

The Property Valuation Process And You

When you ask estate agents what the hardest part of their jobs is the most common answer is making a valuation. This is because there is a great deal of work to valuing a property requiring detailed knowledge of local property prices and market conditions. In addition, this is a difficult process because homeowners often have their own idea of the value of their property and when a figure is produced that does not match these expectations, an emotive situation can often follow. Many homeowners find that an accurate valuation is somewhat of an eye-opener to the true value of their home. Ultimately uneducated guesses are just that, uneducated.... Read more »