- Taxes: When local real estate taxes are comparatively low, the effect on monthly carrying charges, is a positive, for the housing market. When they rise, they cause homeowners, to have to pay more monthly. Some houses, neighborhoods, regions, counties, etc, have lower taxes than others, so when one region abruptly raises rates, that local market is hurt, and certain surrounding areas benefit. In addition, in higher tax areas, such as New York, New Jersey, Connecticut. Massachusetts, Illinois, California, last year’s tax legislation, may have potential longer – term ramifications, on the housing market. That inclusion, known as State and Local Taxes, or SALT, limited/ capped the federal tax deduction, permitted, for state and local taxes, to a total of $10,000. Since many houses in these regions, have much higher taxes, and, several of these areas, also have state and/ or regional taxes, these caps, have the potential, to harm the real estate market, especially, if, they increase, any more.
- Jobs: Do people perceive, they have job security? Is the job market, strong, or relatively weak? Are incomes increasing? The more confident, and comfortable, qualified potential buyers, are, the stronger the market.
- Overall economy, and world news: For example, if the
Above all, if anyone is proposing to shift their business activity to align with the growing opportunities in Orlando, they can definitely look for some help from the real estate agents who are in a better position to explain the local government rules.
The real estate agent will give details about available space in commercial establishments. The local government’s auction of undeveloped land has fetched record prices and proved that there is great demand for real estate from buyers across the county. With the growing inquiries from prospective buyers, the real estate business is witnessing growth in Orlando. Buyers can get more information regarding MLS listings online from the Realtors’ database also. This information helps most of the people to arrive at a decision before making any purchase.
The major attraction of the world famous entertainment destinations like Disney World, Universal Studios and others fuels the real-estate boom. These entertainment places are going to witness more additions, and these are likely to bring in more visitors. More convention centers and business avenues are really changing the face of Orlando and positioning it as the top destination in the country. This is giving added fillip to the real estate market and …Read More
- Check your title: Consider your property, and find out, if there are any outstanding issues, that might create challenges, to transferring a clean title, when you sell your house. These may include: building permits, which were never closed – out properly; work done, without proper permits; any property – line impingements, which might be problematic; tax or other liens; etc.
- Look objectively, not emotionally: It’s often difficult for homeowners to objectively evaluate their properties, which is one of the essential reasons, to hire the right real estate professional, who might look, with an objective – eye! We all develop some degree of emotional attachment to our home, but it’s important to recognize, those wonderful moments, and significant, life cycle, experiences, while invaluable to you, add no value, to potential buyers. Your real estate agent should provide you, with a professionally designed, Competitive Market Analysis, or CMA, in order to price your home right/ correctly, from the start!
- What would you be willing to pay, and why?: Ask yourself, introspectively, objectively, and honestly, if you were a buyer, looking at your house, what would you be willing to pay, and why? Consider the strengths and weaknesses, and how it compares
Save your deposit
Before you start looking for your first home, you will need to be financially prepared by saving a deposit. Generally, saving 10% of the value of your first home is a great target since it meets most lender’s requirements. Ideally that 10% has been saved over a minimum period of 3 months which is known as ‘genuine savings’. Showing lenders you can regularly save means they trust you more to make your loan repayments.
That 10% will be split into 1) your deposit and 2) associated costs. One of the biggest costs will be stamp duty, along with legal costs, strata and building report costs.
Establish your capacity
It is now time to figure out exactly how much a lender will loan you, and how much you can afford to repay. Financial factors that are considered include, how much you get paid, how much debt you have, your living expenses, your assets and more.
It will also be time to figure out what incentives are available to first home buyers in your state. Depending on the value of your first home, stamp duty might be waived or discounted along with potential first home owner grants.
Choose your… Read More
Real Estate seems to be on everybody’s mind these days. Especially in California, everybody you meet and half of your phone calls involve people trying to get you involved in real estate and refinancing. The problem with this is that the bubble has burst. Nobody wants to pay these ridiculous prices for homes anymore. The best way to invest in real estate involves land, and just land. Unlike the flooded real estate market, only a few people know how to correctly invest in land. For one thing, prices for vacant land are low. However, the price for vacant land in developing communities goes up; this is the key to making money though land investment. There has recently been a large surge in demand for land.
Over many years, real estate was the big deal. People only know about condos and houses. In California, the bubble is getting especially big as it’s becoming a buyers market and internet rates are going up, as well as lowering house prices. California is proving to not be as good an investment as it was thought of before, yet there are still communities you can invest in and develop in other states.
Many people don’t …Read More
- Use of renewable energy sources
The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.
- Rainwater collectors
Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.
- Use of wooden furniture’s
Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.
- Natural landscaping
It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.
- Eco-friendly interior insulations