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Miami Beach Real Estate

He would use this building as a show room so that his prospective buyers could have the opportunity to witness for themselves the potential of the beautiful land. He would take his guests to the terrace of the top floor to scope out the surrounding areas. Eventually, the prospects became his investors, and development in Miami Beach blossomed. Buyers started to line up for a piece of the action.

After 20 years, Miami Beach, Bal Harbour, and Aventura reaped the benefits of Fisher’s image. In fact, in 2005, Miami Beach real estate saw a record breaking year with the appreciation of new construction and resale lands appreciating at six percent. With the rich and famous continuing to build their homes there, the appeal of the area has only continued to rise. Mortgage rates are now down adding more fuel to the fire for the attraction of properties in the area. Interest rates are more favorable than ever. The entertainment, diverse culture, high-end shopping, fine dining, world-class boating, the finest greens for golf, and the opportunity to rub elbows with its elite citizens are icing on the cake. And the year-round tropical climate is the cherry on top.

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Property Management Advice

Let’s think about what we’re actually doing when we rent a property. Instead of thinking of the property as a monthly income generator think of it as a pile of cash. Cash you have tied up in the deposit and purchasing costs. Cash you hope to gain a regular income from through renting and more cash that you’ll receive if you sell the property and realise your capital gains. (Assuming house prices have risen since you purchased). If you include in this the value you place on your time spend finding the property, buying and arranging the rental then we have a very serious investment on our hands indeed.

Now, imagine all that money in real, tangible terms, stacked up in a room in the house and then consider we hand over the keys to someone and say, “See you next year”. Now we can begin to see how important it is to select the right tenant. Of course, I’m being dramatic and we do have legal safe guards but I hope that by considering your investment in terms of hard cash (like a professional investor) then you’ll treat the question of occupancy very seriously.

There’s

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Common Property Frauds

  • Executing the purchase and follow up activities
    Make sure your builder sticks to the possession date that he has promised because often builders delay when they do not find buyers or their resources dry up leading to no money left for completing the project. Getting possession of your house as soon as possible has several benefits, one being the tax benefits that kick in after possession. The period prior to the possession date has a different tax treatment as pre-construction period. Once you get possession of your house, the builder is responsible for maintenance of the building for a period of 18 months after the Occupancy Certificate (OC) is given. By the end of the 18 months, the builder will initiate the formation and registration of the society, which will elect its representatives and take over the management of the society from then on. Once the society is formed, telephone and electricity bills will be given in your name. Hence, it’s important to ensure the society is formed within the stipulated time.
  • Deliberate Delays:
    Even though the builder may have a handful of successful projects, it is important to ensure that the builder lives up to
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Real Estate Statistics Explained

The statistics that we will be referencing are true and accurate for the year discussed but are being used to define the real estate statistic itself.

We have chosen Granbury Tx as our example because the growth of the local real estate market there make the statics stand out.

Anytime you are evaluating statistics, especially in real estate, the source of the numbers are extremely important. In most instances, the MLS (Multiple Listing Service) provides the most accurate numbers when referring to real estate. This is because they have all listings by all local real estate brokers in their database. For the sake of explanation of the data, we will be looking at the numbers for home sales in Granbury Tx, directly from the MLS. These numbers are meant to give an example of how to read the statistics themselves. Anytime you evaluate real estate numbers, its important to pay close attention to how the numbers are gathered. In this instance, we will be using ONLY single family properties in the city of Granbury.

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Make Your House More Green

  • Replace old and leaky windows. Replace old and leaky windows with energy-efficient models. You can also boost efficiency of the windows via weather-stripping. Replacing old windows with energy-efficient ones is a common practice followed by green homeowners.
  • Install plenty of ceiling fans. Installing ceiling fans in every room is a great way to reduce carbon footprints. Ceiling fans are cheaper than air conditioners and consume less power. They reduce your monthly electricity bill and protect the environment.
  • Use energy-saving light bulbs. Compact fluorescent lamps are a part of eco-friendly houses. These bulbs, though expensive, consume less energy, produce less heat and last longer than traditional bulbs. You can save a lot by using these energy-efficient bulbs.
  • Plant trees around your house. A good landscaping is essential to make your house green. Hence, plant plenty of trees and shrubs around your home. They not only improve the home’s overall look, but also generate pure oxygen – an absolute must for a healthy living.
  • Use energy star appliances. Energy Star is a renowned symbol on energy-efficient appliances. Energy Star is a program started to cut greenhouse gas emission. Energy Star appliances are cheaper as compared to others. When appliances meet certain
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Impacts of Rent Control on Apartment Buildings

Advocating rent control ignores the basic economic laws that govern housing markets. Rental property that is privately developed, owned, and operated is treated as a public utility. That philosophy harms not only the providers of housing but the consumers it was intended to serve.

Rent serves two functions in the efficient housing market operation. It compensates existing housing unit providers and new unit developers for the cost incurred to provide shelter to the consumers. Rent also provides economic incentives that attract new rental housing investment. Housing is like other commodities. The supply is related to the market price that prevails.

Providing economic incentives is particularly important in the evaluation of rent control economic implications. When the market is not regulated, rents rise as consumers compete for units that are available. The higher rent encourages new investment in housing rentals. Buildings are constructed, rehabilitated, and converted from nonresidential to residential until there is an elimination of the housing shortage.

Without rent increases, new investment is not attractive. Housing construction is sharply limited. There is no long-term housing shortage solution. When rents fall, the market receives a message that new investments have no room to succeed. Artificially

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Shadow Inventory

Banks hold on since it allows them to release their inventory over time to keep their books in check and also to provide that easy liquidation to stimulate the real estate economy when necessary. Banks will now be getting more money for those newly released properties, then say 2 years ago, due to the steady increase in home prices and low inventory levels. If they chose to release all at once, it would flood the market with “distressed properties” and bring down property values.

Foreclosures have been steadily declining since 2013 with the highest shadow inventory then at 2.2MM. According to the National Association of Realtors, there is still about 4 years still on the books and it is possible that we could soon see more!

More “Shadow Inventory”? Why? (HAMP) Home Affordable Modification Program

Many homeowners may find it difficult to make their mortgage payments due to “resets” with HAMP thus pushing them into foreclosure. The government’s Home Affordable Modification Program provided temporary relief to borrowers during the housing crisis. These reliefs ended after five years and now payments will be “reset” thus causing loan payment increases for nearly 900,000 homeowners. Some of those

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Characteristics of Green Real Estate

Insulations are made from recycled materials

Home insulation is necessary because it affects the hotness and coldness of home’s interior on given times of the day. Insulations have gone far from bearing the color of pink because they have learned to be greener or eco-friendlier. Common house insulations made from recycled materials include old shredded denims, hemp, and cotton. These materials are known to have reduced noise. They also have sealing capabilities. A top-notch choice among green home buyers is insulation made from icynene – derived from used castor oil. It forms spongy-cake substance which can reduce a home’s energy bill to as much as 50%.

Furniture close to nature

When buying a green home, you should also consider the furniture that composes the home’s interior. From tables, chairs, cabinets, shelves, and other fixtures – you should ensure that they are made from sustainable materials. For instance, there are tables made from FSC-certified bamboos and reclaimed teak. Consider the space-saving values of chairs. There are types that can be folded and stored flat when not in use. There are also cabinets and shelves made from corks or the renewable barks of common hardwood trees.

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Condo Board Responsibilities

Playing By The Rules

The rules and laws that you need to abide by will have been created by both the state government and the governing documents created by the condo association that runs the project, so it is vitally important that any actions you take as a member of the board follow these rules.

This serves to protect the condo and ensure that no bad decisions can be blamed on a failure to follow proper procedure. It also protects investors from potential legal action against them should it be discovered that something is not being done as it should be.

You will also be responsible for enforcing what are known as the “covenants”, which are the rules that all of the residents of the condo need to follow. These rules must be enforced fairly and evenly, without any favour being shown to any residents.

Acting In The Best Interests Of The Condo

Investors will be expecting to make a return on their investment, so it is important that every decision you make as part of the board is made with the best interests of these people in mind.

Of course, this

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Finding a Realtor

Talk to his/her past clients.

The time which your house will spend on the seller’s market depend on many factors. But sometimes, it can become dependent on how your realtor works on exposing your property to potential buyers. Know how often he or she sells properties. More often than not, there are reviews on realtor websites. These can help you figure who their clients are.

It is also possible that one of your relatives, friends, or current neighbors are past clients of the realtors in your shortlist. They can be your first lines of information. Talk to them carefully. It is a key that can help you past thousands of dollars.

There are a lot of realtors out there. There are actually a lot of good realtors. But will you settle for someone who is good enough if there can be someone who is stellar – perhaps a rock star when it comes to selling properties.

Know the realtor’s history.

History is probably one of the most boring subjects to many persons. But, in real estate, history well-served gives the results deserved. After talking to past clients, you can at least have a

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