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Geographic Micro-Markets in Real Estate

As if the old adage of “location, location, location” needs to be repeated ad infinitum, prospective home buyers will attempt to reduce the stress and confusion associated with house shopping by focusing solely on the amenities offered in each home. Unfortunately, when determining the value of a home, features like granite countertops and floor coverings are relatively insignificant when compared to the quality of the neighborhood in which a home is located.

In support of this point, both government assessors and private appraisers utilize the “comparable sales approach” to determine the value of a property. According to this method of valuation, the sizes and prices of homes sold in the surrounding neighborhood are analyzed to determine the worth of the subject property. Some weight will be attributed to the degree of features included in a house, but the value that amenities typically contribute towards a home’s determined worth is relatively nominal. This explains why a discrepancy in price between identical homes located in different geographic micro-markets can often amount to hundreds of thousands of dollars, while a home with unsurpassed amenities may be worth only thirty thousand dollars more than the basic home of similar size across

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Guaranteed Home Inspection Bliss

Home inspections are very important during the home buying process. Your licenced home inspector is quite skilled at discovering underlying problems with a structure.

If at all possible, make sure you are present when he or she is going over the house. Inspectors are great at explaining all of the little features of the house, especially when it comes to the mechanical, electrical, and plumbing systems.

In addition to any problems your inspector may discover, they will also be able to show you where your water shut off valves are located.

Knowing where your shut off valves are located is extremely important in case one of your plumbing fixtures, or pipes, suddenly sprouts a leak.
For example, if your dishwasher ever decides to start flooding your floor you will know exactly where to go, and what to do, to turn the water off and minimize the water damage.

If your inspector does find a problem with the property you are buying, they usually have several ideas on how to correct the situation.

On the off chance that there are only a few problems and they are relatively minor, you may elect to correct

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Significance of Green Housing

One of the major reasons why so much of energy is being used in the houses is because of the so called “necessary” appliances, which people cannot do without. Rarely would you find a house today, where things, like computer, television or microwave, are not there. Another big issue in a house is the cooling and heating, which is needed. It is the cooling and heating systems which use almost sixty five percent of all the energy resources in a house. It is important to understand that green housing is not something concerned with cutting the requirement for cooling and heating. The idea behind green housing is to cut down reliance on the energy sapping devices or systems.

The good part is that a growing number of people wish to contribute and do their bit in solving the environmental issues and this is the reason why green housing and green living are getting increasingly popular. Having a green lifestyle does not imply that you have to stop using electrical appliances and instead, opt for only the solar panels. It is actually about making certain changes in your lifestyle to reduce the energy consumption. Green housing involves a

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Eco Friendly Property in Spain

Those two words began a journey of thousands of miles across Europe and countless hours researching the web to find out how “eco friendly” I could build her dream home. Initially I found that an eco friendly home was just a cave house…I didn’t fancy living in or building a cave house, or they had thicker lagging on pipes or they offered solar water heaters…BIG DEAL, I expected that as standard, in fact it is law in Spain now to have alternative water heating supply, one company even classed a home as eco friendly because the heating had a thermostat.

Two years later and after securing the sole rights to build with a German quality ICF system we are beginning our first two new eco friendly villas in Spain for clients and have several scheduled to begin next year. The interest has been amazing; unfortunately this means my wife’s dream home has been put on hold for a while but our business and our attitude to all things green is being transformed. We are offering geothermal heating systems, solar power, grey water systems, water saving systems inside and outside the home, wind turbines, appliance advice, lighting systems

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Making an Offer on a House for Sale

Your budget-no matter how impressive the house may seem to you it is important that you stick to your budget. If not you may find yourself with a home that you cannot really afford and you could have it foreclosed on. Yes, there are advertisements about cheap home loans but it is still important that you stick with a house for sale that is within your financial limits.

Space-when looking at the space the home offers you look at it from a long-term point of view, especially if you are a young couple that plans to expand your family one day with children. You want a house for sale that can grow with you and not one that you grow out of as soon as you have children. You should try to find a home that has at least three bedrooms and a large enough kitchen to work in without being crowded. In addition to the space inside a home you should look at the space outside. Look at the backyard to see if it will be large enough for your needs.

Make a thorough check of the house for sale-even the best looking homes could

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Find Affordable Homes for Sale

Experience with Low-Budget Clients

Look for a company that specializes in serving customers who don’t have a large budget. These realtors know how to work with limited finances, and can also assist in finding loans that you may not know exist to help you pay for your purchase. When you pick a company that has experience with low-budget clients, they are more familiar with the frequently asked questions and how to secure the financing you need to get a residence you will love.

Access to Multiple Houses

You also want to use a real estate agent that has access to numerous homes for sale in your area that meet your budget expectations. Some companies focus on more expensive homes since they make larger commission than they would on cheaper residences. They fear that the less expensive houses with fewer amenities are harder to sell. Before working with any agency, ask what houses they have access to that fall within your price range so you know you have options.

Fast Closing History

When you want affordable housing right away, you should choose a company that can help you close on a property quickly. A

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COBRA Of Home Selling

  1. Curb appeal: Potential home buyers are influenced, to a large degree, by their first impressions. One must remember, and understand, there is only one chance, to make a first impression, and the first thing, they see, is the house, as they drive up, and approach it! This quality is often referred to as curb appeal, and, is created by a combination of factors. The most essential, first, preparatory step, must be eliminating any negative distractions, and/ or potentially considered eye – sores! Some considerations should include: overall appearance; condition of grounds, flowers, plants, lawn, etc; paint touch – ups; clutter, etc.
  2. Odors: Once you consider and address curb appeal, in order to sufficiently attract potential buyers, to look, more, the next essential consideration, is to perform the nose – test! Walk into your home, objectively, and check to see, if there are any unpleasant, distracting odors, and/ or smells, and effectively address them, and eliminate these distractions! Failing to do so, often loses, otherwise, qualified potential buyers!
  3. Benefits: Accentuate the positive, and focus on addressing, articulating and communicating the finest assets of the house! When the primary emphasis is on benefits, a potential buyer is better
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Selling House in Colorado Springs

Average Selling Price

The average selling price of a home is $325,000. This is much higher than just a few years ago. There is limited inventory in the city of Colorado Springs, and many people want to move to the area. One of the biggest benefits of living in Colorado Springs is the public school system. This is a great place to raise a family; one reason why home prices are eight percent higher than last year.

Until more homes are built, the average selling price of a home in this popular city will continue increasing.

Average Days on Market

The average days on market metric is 53 days here. This metric shows that homes are selling within a few days of listing. The closing process for a home usually takes about 45 days. Some homes take months to sell, and there are homes that have sold within a few minutes of listing.

Even with housing prices higher than last year, this metric has decreased from a year ago. This shows how high demand is for homes in this location

Average Number of Homes Sold

Each month, there are about 270

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Things to Do Before Renting Out Your House

Take Photographs of the Property

Photographs of the property are necessary for several reasons. They are an important part of online advertising – otherwise favorable rental listings without pictures of the property are often passed over by potential tenants because they do not want to have to wait for a house tour to find out that the property does not have a layout or design that suits them. These photographs will also be helpful when your future tenants are moving out, as you can use them to measure any property damage that occurred during the rental period.

Assess Fair Market Rent

While it may be tempting to charge higher rent to make money back on recent renovations you may have done or moving costs from when you left the property yourself, the best thing to do is conduct market research: check with rental websites, newspapers, local landlords, realtors, and property management companies to determine the amount that properties of similar location, size and condition are renting for.

Create a Concise, Effective Rental Application

An effective rental application will not intimidate potential renters with its length, but will be comprehensive enough that it can

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Ways To Wholesale Real Estate

  • Contract Assignment: This is the easiest, but comes with some risks if not done correctly. It is also somewhat restrictive as bank owned properties will prevent this. This works well when you negotiate your deals directly with the seller. The way this works is you will get a house under contract and then you will assign your rights in the contract to another buyer for a fee. That new buyer will take on the rights and responsibilities in the contract and will close in your place. It is best to get your fee paid up front, but it is very common to get your fee when your buyer buys the house. Here are a few things to keep in mind when assigning contracts. Be sure that you always disclose to your seller that you are or may assign the agreement to another buyer for a fee. I suggest you actually put this in the contract. Sellers should be OK with this if you are transparent that you are an investor who buys houses for a profit before you start to negotiate. I would get money from your money that is at least enough to cover any earnest money you put
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