Real Estate Auctions – The New Land Rush

On a sunny afternoon in Florida, an energetic crowd gathers on the lawn of a high end luxury estate. A loud and eager banter between an auctioneer, a group of bidders and bidder assistants fills the air. For several minutes the auctioneer asks for the next highest bid and the bidders respond. Suddenly the bidders grow silent. The high bidder holds his breath in anticipation of winning the auction. The auctioneer calls for one more bid. In a loud clear voice which rolls over the audience he says, „Fair warning, last chance“ the auctioneer pauses, „SOLD!“ And in less than 10 minutes another multimillion dollar estate has changed owners.

Successful real estate auctions like the one above are happening all over North America and the Caribbean. Recently real estate auctions have been on the rise, the increase in popularity is partly driven by growing inventories and fading buyer confidence. Properties that were selling in weeks using traditional methods are now languishing on the market unable to attract buyers even as seller’s lower prices. Many say the real estate boom is over but savvy buyers and sellers are profiting from real estate auctions.

Real Estate Auctions Work in Up or Down Markets.

Regardless of trends or market cycles, real estate auctions provide an open and transparent process for buyers and sellers. Properly conducted real estate auctions attract ready and willing buyers and motivate them to act now.

The auction method removes the „wait and see“ attitude which serves to further depress real estate values. Buyers are always concerned about overpaying. Buyers gain confidence with their purchases at real estate auctions because they can see what others are willing to pay.

When market demand is high and inventories low, real estate auctions can deliver selling prices well above what a willing seller would have accepted in a negotiated private treaty sale. In good selling climates many property owners using traditional real estate methods; negotiating with one buyer at a time, leave thousands of dollars of equity on the table. During up markets real estate auctions are the best way to establish top market price.

Evaluating Your Real Estate for Auction

Not every property or seller for that matter makes a good candidate for auction. First of all sellers must be ready to sell now and for the current market value. Also a real estate auction will not fix problems caused by a downturn in market value of your property, if you owe more than a willing buyer will pay, be prepared to come to closing with your check book.

Properties that do well in real estate auctions have a high uniqueness factor. Ask your self, „What makes my property different from most others?“ Maybe you own a resort property or high end luxury home, commercial properties and land do very well at auction. Real estate auctions thrive on uniqueness. If your property is like everyone else’s, the best thing you can do is offer the most competitive price.

Most importantly sellers must be reasonable about setting a minimum bid. A seller must look at the lowest, most current comps and price below that to generate the interest and urgency necessary for a successful real estate auction. Once the auction begins and qualified bidders start competing against one another you can watch the selling price increase.

Locate a Qualified Real Estate Auctioneer

Start by checking with the National Auctioneers Association, the best real estate auctioneers belong to this organization. These real estate auctioneers are well trained and adhere to a standard of practice and a code of ethics. Many attend the annual International Auctioneers Conference where the latest techniques and innovations in the real estate auction industry are presented.

Find out if the company you are interviewing is a full time real estate auction firm. Many real estate agents are getting auction licenses yet have no experience with the auction method of marketing. Conducting a successful real estate auction is nothing like (private treaty) traditional real estate sales. Go with a real estate auction pro.

You’re probably better of with an auction house that specializes in real estate auctions. There are many qualified auctioneers who have generations of experience selling personal property; furniture, dishes, lawn equipment and the occasional rare painting. Selling real estate at auction is a complex matter that should only be attempted by full time experienced real estate auction professionals.

Commissions and fees may vary, sellers must pay all marketing expenses up front and buyers typically pay 10% of the sales price to the auctioneer of which a share goes to participating real estate agents.

Types of Real Estate Auctions

Auctions are effective because they create a seller’s market. Professionally conducted real estate auctions create urgency, a reason to buy today and competition for the property. Terms and conditions of sale are established ahead of the auction. Real estate auctions will follow one of these three approaches:

Absolute Auction

The property is sold to the highest bidder regardless of price- using this process often returns the highest sale price.

Minimum Bid Auction

Seller agrees to sell at or above a published minimum bid price – this method is useful for internet auctions.

Seller Confirmation or Reserve Auction

With a reserve auction, the seller „reserves“ the right to accept or decline any bids usually within 48 hours of the auction. Reserve auctions are used when there is a lien on the property from a lender or a court ordered sale with a minimum selling price.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Douglas Hostetler

How to Buy a Home With Poor Credit

Well the truth is that this is not so easy. As a couple years ago it was fairly easy to get a home mortgage loan with bad credit history. The housing economy was so good that mortgage companies were practically throwing home loans at people who had good credit.

These days, getting a home mortgage loan is not easy. Still getting a mortgage loan when you have poor credit is not impossible – hard but not impossible. Let’s look at some options you have.

Put a down payment on a home. If you have a large down payment, it’s possible to get a traditional mortgage lender to give you the loan you may be seeking. However, it can be tough to actually save up a large down payment. But if you can, this is by far your best option for getting a home mortgage loan with very bad credit.

Now, if you don’t have a down payment, you may still be able to convince a lender to give you a mortgage. However, it will be important that you actually have a good income and even if your credit is bad, you will need to show 6 months or more of solid credit payments of some sort. There is no guarantee that you will be able to convince a mortgage lender to give you the loan though – it’s worth a shot though.

Another possible option is to look at getting a bad credit mortgage online. There are some online lenders who will still give out high interest mortgage loans to people with bad credit.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Jenny Jeffinson

Realty Remodeling Rules

Thinking of remodeling or renovating? Make sure you do not ‚improve‘ your home out of the neighborhood. It is okay to do this if you want to stay living in it, but if you are making improvements to sell your home at a higher value – beware!

Realtors accept that there is a ceiling in realty prices, no matter which location you live in. The catch-phrase ‚location, location, location‘ is not just for fun; every location has a ‚bottom price and a top price‘. If you live in a top location area – the sky is the limit – but sadly most of us do not!

If you are living in a lower price area and put in a swimming pool and an outdoor kitchen before you list your house, it will most certainly bring the buyers to your home. It will no doubt bring in offers for your home and all this is good news.

However, while you will be able to sell at the top neighborhood price, the sale price may not reflect the total cost of your improvements.

In order to avoid this error of judgment, ask an expert in the field of neighborhood prices – your local realtor! He or she will be happy to come and advise you on which specific improvements may potentially add value to your specific home in your specific neighborhood.

This is the type of advice that you want if you are improving solely to make money. Many home improvements have been ‚analyzed‘ to see which ones give the best returns on their initial outlay.

For instance, in the ‚Money Magazine‘ they recommend adding a quality deck to bulk up the potential square footage of your property. It should be no larger than the one third the size of your home.

A deck can be transformed into a luxury class fairly inexpensively – outdoor lighting around the deck area, waterproof speakers and an entry via French doors will help. If you use ‚cute‘ strings of outdoor lighting and decorate with potted trees, the deck will have an appealing ambiance.

A report from HomeGain.com suggests that the outlay for updating a kitchen can add double of the initial cost of the improvement to the value of your home. If you have a closet that you can turn into a pantry – go for it!

The pantry is a sought after feature in a kitchen at the moment. Islands are another wished-for feature, although preferably with a secondary function such as a sink or breakfast bar stools.

Once again, keep a ceiling on your prices. If your neighborhood is for the average family, it is not worth investing thousands of dollars in top of the line appliances if this will price your home out of the local market. The report suggests that looks and newness are the most important factors.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Carol P Freyer

Processing Rebates – What the People Selling This Are NOT Telling You

Ok. For all the people who are interested in this particular endeavor or are curious, pay close attention. What I’m about to tell you is the truth behind what the deal really is with this particular business opportunity. After you hear this, then realize if this was the opportunity that you thought it was, and whether you still want to aspire to be a „home rebate processor.“

Now as far as what they tell you in the ads, it’s partially true. You are, in fact, processing rebates. Here’s the full story…

People sell products and services on the internet all day long. And given the amount of people that sell these products on a daily basis, it’s a pretty competitive environment for people that want to get into that game.

So people are always looking for an edge in getting the leg up on the competition for a cut of your money. So people think up ingenious ways to sell products on the internet and grab a share of the ecommerce pie. This is one of those ways. They say,“ok, you buy this product from me for $50, and I’ll cut you a rebate check of $15. Ok, fair enough…

So these companies that sell this opportunity INFER that it is your job to process this rebate and receive that $15 for your service. Seems straightforward and easy, right?

Well, that’s not exactly how it works. The people selling this opportunity want you to believe that’s how it works (just you logging into a site several hours a day and processing these rebates for money), but the truth is this;

You are actually an affiliate and you are in charge of selling the actual products and services. You sell the product or service, someone buys it from you, you give that customer a rebate, and you keep the difference.

Now in order to do that, you have to learn how to market on the internet (not something they mention in the sales copy). Supposedly, they will teach you (although I hear from many forums that the training is shoddy, at best). And marketing on the internet is not easy, and it can be expensive. Many people are doing it and the competition is fierce, so it takes specialized knowledge and training to be proficient at it.

You can go weeks without getting a sale and not make any money, yet you might be paying for the marketing to get a sale the whole time. This can lead to large monetary loses. But they have you believe that it’s just a matter of „logging in, doing some rebate processing, and collecting a check.“ Not exactly, and now you know why.

I’m writing this article because I wanted to clear the air about how this opportunity really works so people aren’t misled. Making money online takes work and knowledge and don’t let anyone tell you differently. If you are willing to invest in both, the rewards are priceless. I hope the information in this article was helpful to you.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Neil Bermeo

5 Easy Home Improvement Projects That Make Your Home Feel Like New

Would you like to live in a new home? A home improvement project can be an easy way to change the look and increase the appeal of your home, make it feel like new. Below are five very easy ways to improve your home and increase the value at the same time. Home improvement projects do not have to take a lot of time or money to make your home look better.

Easy Home Improvement Project – Kitchen

Paint the kitchen cabinets. An easy kitchen home improvement project that most anyone can do is to repaint the cabinets. A dull, lifeless kitchen can easily be brought back to life by a new coat of paint on the cabinets. Select a bright, crisp color and a new coat of paint on the cabinets will change the look of the kitchen. It will look clean and fresh. With the sharpness of the new paint, the kitchen will appear and feel larger. A light, bright color seems to expand the feel of the room.

For a finishing touch that will complete the cabinets in your kitchen home improvement project change the hardware. Cabinet hardware can become dull and worn over a long life of use. Changing the knobs and handles will drastically change the appearance of the cabinets and give the kitchen a newly remodeled look.

Easy Home Improvement Project – Flooring

Replace carpet flooring. Old, worn carpet is thin, hard and makes a home look dirty and dungy. Replace old carpet with new in your next home improvement project. New carpet adds a soft touch. It looks good and insulates to some extent. If you have a limited budget, purchase good carpet padding and an inexpensive carpet. The result will be a thick expensive feel.

Easy Home Improvement Project – New Faucets

Change the faucets in the kitchen and bathroom sinks. Old faucets dull and wear with age. Replacing faucets will give the sink a fresh new appearance.

This home improvement project is much simpler that it may sound. You can hire a plumber to install new faucets or you can do it yourself. Nice faucets can be purchased at your local hardware store, along with proper plumbing supplies that are quite easy to install.

Easy Home Improvement Project – Painting

Paint the exterior and the interior of your home. A fresh coat of paint is a simple home improvement project that will give your home a new clean look. The exterior appeal will look inviting to visitors and the fresh new interior will make them glad they entered. This is a relatively inexpensive, simple home improvement project that you can hire done or you can do it yourself.

Easy Home Improvement Project – Driveway

A very easy home improvement project that will add a new look to the exterior of your home is to pressure wash the concrete driveway. Over the course of a short season, a concrete driveway will get dirty and grungy. Simply rent a pressure washer and wash the driveway. The process is not hard but it is a slow process. The result will be worth the time. The concrete will look like it has been recently placed.

So there it is – five easy home improvement projects that will make your home feel like new. If you want to improve the appeal and add value to your home, try one or more of these home improvement projects.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Chuck Barnes

How to Choose The Right Real Estate Agent For You

Whether buying, or selling a home, choosing the right real estate agent or buyers agent, is the most important step to take. The process of buying or selling a home is very detailed and difficult. In addition to the fact that mistakes can cost a great deal of money?

Your assets are on the line, and losing through the purchase or sale is the last thing you want to do. There are many real estate agents around. The ones that are dedicated and stay with you every step of the way, or the ones that farm out the work to other brokers.

The areas of expertise you need to look for are:

· How much education in the area of real estate does the agent have?

· How much knowledge does the agent have about the homes in the areas you are looking at?

· Do they have a wide variety of homes for sale for you to view?

The title that carries the most education and experience is a real estate broker. The real estate broker has a real estate license, training, and is recognized by the National Association of Realtors. This professional would likely be able to assist you with all of the needs you would have for buying or selling a home.

After the real estate broker is the realtor. This professional received the real estate license, and some additional training. He or she has also received recognition from the National Association of Realtors.

Finally the real estate agent is a person who has received the license, however may not have the same amount of experience as the more seasoned broker.

Most states have minimal requirements for being a real estate agent and this is the cause for some of the issues that are incurred during the transferring of ownership of a home. However keep in mind that at all levels of this expertise there are good agents, realtors and brokers. Doing a little checking can help you find the right one for you.

Most of the time a real estate agent is representing the seller of the home. If you are looking to buy a home, you are looking for a real estate buyer’s agent. This is important because you want to be represented in the best interest of your needs. Not those of the person on the other end of the deal.

When you are doing your research about the right agent for you, you will want to look for the commitment you deserve. There are many agents on the market just like there are many homes to be sold. If you do not get the attention and prompt response you deserve, go looking for someone else. They will make a profit from your purchase and they should be treating you with a reasonable amount of respect and professionalism.

The rule of thumb is that you want a real estate agent that has been around for a couple of years. With the turn around in the real estate market the way it is, this is the reason it may take you contacting a couple of agents.

You want to start your search by getting the right real estate representative for you. The home you are looking for will come along. There are bait and switch agents out there who specifically use a house within a price range and look that is appealing to the average home purchaser and then when they get the call, they may tell you it is sold, but there is another they have that you will love also. Keep this in mind so as to not get stuck by a tricky agent, instead look for the representative, agent, or broker that will show you what is available at all levels of purchasing and will keep your best interest in mind.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Tina Abraham

The Short Sale Process For Buyers

Home buying has changed in so many ways. One of these ways is we now have an abundance of short sale homes and lender owned homes as well as the independent homeowner selling their homes. You decide that the home you want is a short sale home.

What is a Short Sale?

A short sale is a process the seller is hoping to complete before they lose the home to a foreclosure. This is good for the seller as a short sale is less dramatic for them as it will typically not hit them on their long term credit as much as a foreclosure. A foreclosure means the seller won’t be able to buy a home for much longer than a short sale as their credit is hit harder. The seller has started the process with their mortgage company by sending in required paperwork. Now they wait for an offer or several offers.

The Offer

Your offer will be written along with the various documents that you acknowledge the property will be sold in „As Is“ condition. You will also be informed that the seller will not be making any repairs or be receiving any monies or paying any out of pocket expenses. Most likely the seller will not be disclosing any past repairs or changes made to the property. What does this mean to the buyer? You are probably buying a property for less than the same home would sell for if it was not a short sale so you can expect a bit more out of pocket repairs and a property that is not in „top notch“ condition. Some sellers that simply want to make this process as painless as possible and get an offer prior to a foreclosure so they maintain the property beautifully. This is not typical, most sellers are distressed and have vacated the property and have left it a bit in disrepair.

The Wait

The offer gets faxed into the mortgage company along with a copy of the HUD and your proof of financing the property. Most mortgage companies are flooded with so many that waiting to get a response can vary anywhere from just a week or so to several months. Not only are you waiting to hear if they are even going to consider your offer you also may be competing with other offers that are either on the table or come in during the wait process. Sometimes you have no idea that you are not the only offer in or whether or not the mortgage company is prepared to take the lesser amount owed. Be patient, this process is not a sure bet and it can be a long wait. If you absolutely need to be placed in a home within the next month or two you should consider a bank owned or individually owned property.

Acceptance

Assuming your offer has been negotiated and accepted the bank will then give a time-frame in which you MUST close by and the contract will become null and void if not closed by that date. Now is the time for you to do your due diligence and get a home inspection! Do not forego the inspection, you need to know the extent of the condition of the property before the end of the inspection period is over and you are now at risk of losing the earnest deposit if you do not move forward and close on the property.

Most Important!

It is extremely important that you have hired an experienced Real Estate Agent that represents you and only you, not the seller. You need to have your own representation with someone that has knowledge with short sales.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Nancy Niblett

I Just Got Served Foreclosure Papers – What Do I Do?

The first thing you do is to take a deep breath and realize that you have some time to work things out and realize there are solutions.

It is not a real pleasant thing to have a sheriff knock on your door and hand you paperwork that says your bank has begun the process of taking back your home but you can almost always work things out via a loan modification.

A loan modification is a process where the borrower and the lender work out different payment arrangements than originally agreed upon. The banks and lending institutions have certain criteria they go by when offering a loan modification and vary somewhat from institution to institution.

After you take a deep breath consider some of your options before taking action.

Your choices are basically:

1) Pack up and leave the home if you have a place to go.

2) Beg, borrow and steal to get the money for the past due payments.

3) Work out an arrangement with your bank.

Numbers one and two do not appeal to most folks so you need to work on the third option if at all possible. Working out an arrangement with the bank can be stressful to say the least. You will need to gather certain financial documents, put together letters of explanation and get documentation from third party sources.

All that can be time consuming and cause you to lose some sleep at night but a loan modification can save your home and the equity that you have worked for over the past years so it is certainly worth the effort whether you handle it on your own or use a loan modification firm.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Will Stone

What Is VA Home Foreclosure?

A VA home foreclosure is when the government takes back your house because you have defaulted in payments. When this happens, many people go into a state of shock and denial. However there are alternatives that should be looked into before you let your house get repossessed. As soon as you receive the notice you need to contact your lender right away to discuss what you can do to save your house. Do not just give up and panic, instead take action to help yourself.

First off, just what is a VA home loan? This is a special offer to help those who have served in the armed forces. Sometimes these veterans do not have enough money for a mortgage, so the government steps in to help them get a loan for their house. The government agency guarantees their loan. If for some reason the veterans default in their loan payment the government will take steps to repossess the house.

What can you do when you are faced with a VA home foreclosure? As mentioned, all is not lost because you receive a notice of repossession in the mail. You just have to act quickly to examine your options. Sometimes your financial problems are temporary. In this case your lender can work with you to get the monthly payments lowered and allow you to catch up. This will enable you to continue paying the mortgage and the lender can still get his payments, so it becomes a winning situation for both of you. Normally, your lender will be happy to work with you because if your house is repossessed the lender knows that they will lose money.

Is it possible to gain from VA home foreclosure? In a quick answer, yes you can.

You see, if you need a house, these repossessed properties may be just what you need. When the government takes the homes they are often stuck with them, especially with the glut of foreclosures in the marketplace, and will be forced to auction the house for a substantially smaller price than the current market value. This means that you can grab a house for 20 percent below appraised value. This helps many people with less income to get houses who might otherwise not have had a chance to get.

Before you go out and try to purchase a VA foreclosure home, you need to check the condition of the property. Often you will find these houses are run down and have quite a few repairs needed. You will need to get a proper inspection done to alert you to what needs to be done. Sometimes it is good to go through a real estate agent so that they can help you with this. Always try to assess the amount of money you will need to spend on repairs before you buy the house, as this can be quite costly and could end up costing you more than a new home that has not been foreclosed on.

If you decide to invest in a VA foreclosure home, just how do you go about finding one? First place to check would have to be the internet, because you can find a lot of different types of repossessed properties online. There are websites that provide lists of repossessed properties and some will even show pictures of the houses. This helps you to choose the one that will suit your needs.

If you seriously want to purchase a VA foreclosed home, the best thing is to contact a real estate agent that specializes in foreclosure properties. He will be familiar with all of the forms and red tape that needs to be filled out before you purchase a home.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Sydney Heiden

Five Unique (And Crazy) Ways To Sell Your Own Home

It is hard to imagine that it was just half a decade ago when banks and financial institutions seemed like they had a bottomless well of cash to loan. That was actually the problem – it was too easy to get a loan. Interest rates soared through the roof, and people were left clueless as to how they are going to pay off their mortgages.

Suddenly, thousands of people were thinking, „I need to sell my house quickly!“ With so much competition, it was a tough property market to be in. There have been signs of improvement; home sales rose to 72,100 in July, that’s double the figures in January, according to the LSL/Acadametrics House Price Index.

But it is still a volatile housing market, and to be able to sell your house fast, you need to think out of the box. Here are five unusual, bordering on desperate, (some of them a bit over the top) ways to sell a home.

1. Sell your house to a cash home buyer.

As John Fingleton, chief executive of the Office of Fair Trading said, „Encouraging new business models, online estate agents and private seller platforms could put useful competitive pressure on traditional models and lead to better value for buyers and sellers.“

2. Stage a raffle.

This sales technique requires a lot of hard work. The average price for a UK home is £162,000, so assuming each raffle ticket is sold at £25, you’d have to sell 6,500 tickets to make that amount. You might have to sell in shops, restaurants, pubs, train stations, and on the streets. As in any raffle, the lucky winner gets the house.

However, ticket revenue often falls short of the asking price, especially on more expensive properties. What do you with the proceeds then? You certainly don’t want a mob of angry protesters on your doorstep. One way to solve the dilemma is to give away a cash prize, whatever is left of the proceeds from the ticket sales after deducting costs. Be careful not to get arrested for breaching gaming laws though.

3. Beyond Classified Ads, advertise in unexpected places.

It’s free. It has millions of viewers. And it works. Estate agents, brokers, and even well-known property firms have made their own videos and posted them on YouTube, the world’s most popular video-sharing website. With just a digital camera and simple editing software, you can create your own video – the catchier the better of course – and post it on YouTube. Then you can market it by posting the link on Craigslist and Facebook, and e-mailing it to friends. Beats paying for a spot on network TV. But if you have the budget, you may even put up a billboard along a major road. It’s great exposure and if especially if you’re from a small town, it does not really cost a fortune.

4. Auction with a twist.

Auctioning to sell houses is actually quite a common practice, but one poster on an online community forum shared a story she had read in one of the free papers in London. The headline read: A £175,000 Garden Flat for Only £70?“

According to the post, it was £70 to enter the auction, and the bidder then has the right to submit up to 200 bids, in whole pennies starting at 1p. When enough people have registered to cover the asking price and the selling costs, the vendor was to award the house to the bidder with the „lowest unique bid.“ It is „deemed to have an element of skill,“ according to the paper, therefore it’s not a lottery and not covered by gaming laws.

5. Attract attention with smart and unusual gimmicks.

A small broker in Florida once rented a latte cart and parked it in front of her open house. That simple trick tripled the amount of traffic to her open house, had three bids and the house sold in nine days for $23,000 (£15,000) over the asking price.

Some people offer free beer and pizza for a year, while Rick Hill, who owned a £1,150,000 house in Hockley, Essex, gave away a Lamborghini worth as much as £150,000. Beat this though – Ian Usher, from Darlington, put his whole life in Australia up for sale on eBay. Turns out his house, car, job, and friends were worth £192,000, although the deal actually fell through.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by David Cuerden

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