Home Buying Tips That Can Help You Land the Best Purchase

Home Buying Tips That Can Help You Land the Best Purchase

Buying a house is one of those acquisitions that requires much thought and a lot of time making assessment since it's one decision that is extremely involving, particularly in monetary issues.

As much as that mortgage program seems attractive, you should ensure that you are on stable financial ground and that a house purchase will not leave too huge a dent in your financial account. Save up for your home and don't hurry in purchasing one when you are just a number of months doing your first good paying job. You will not be aware when a financial burden may happen and in these instances, it's always greater to be secure than to be sorry.

The second thing that you are required to further investigate is the house you are preparing to buy. As a general rule, never go for the first home you see since you feel it's what you are looking for. You must investigate a couple of them so that you can land the best possible buy. In the natural, only assortment is able to provide this kind of possibility.

Consider the surrounding that the home is in. Even the most perfect home that you discover, will be removed from the list if it is not located in the best neighborhood. You need to consider the place as one you would trust with your children, and not one that you have to stick to a certain curfew.

Check the amenities of the house and don't just consider one that has some imperfections. These are considered as the backbone of the house. A house with defective wiring should not even be considered. Finally a house investigation by an expert will give you the required go ahead to make an acquisition or to refrain from it.

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Colorado Springs real estate is the most sought after property these days. More and more people are looking for homes for sale in Colorado Springs. If you tooare looking for your dream home, you may hire the services of a reputed Colorado Springs REALTOR who will help you find one that suits you in every way. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Why Sell and Rent Back Real Estate Scheme Was a Success

In real estate, many opportunities exist for making money but one in particular was devised in 2006, known as the sell and rent back scheme, as a means of helping out homeowners at risk of losing the property. The concept was to get away from repossession or foreclosure by selling and renting the home back.

For about a year, this scheme continued to evolve into a diverse type of plan for helping the homeowner. Citizens that had owned property for years generally had a momentous amount of equity and with homeowners not wanting to lose this money, the sell and rent back scheme headed in a new road.

Though this sounds great, homeowners concerned in this type of plan need to use caution. Below are more than a few problems that might take place from this type of arrangement so anyone taking into account a sell and rent scheme should be familiar with how to identify and avoid them.

The Fees

The associated fees would be the responsibility of the buyer in this particular real estate scheme which might include things such as inspection, solicitor expenses, and surveys.

Rent Increase

The buyer and now the one who occupies apparently would sign a contract but all of the information needs to be read carefully before anything is signed. Close attention should be on monthly rent payments for the rent contract.

The Home Sale

The new property holder would have right to sell the home if they want, which would once more put the occupant in a bad position of needing to move with little notice. If the sale of the home were enclosed in the sell and rent back contract, then certain limitations need to be outlined.

There are negative aspects that are present for the sell and rent back scheme, but there are also positive features of this circumstances too. The homeowner is significantly safe from the danger of home foreclosure. The obstacle there is with the current economy and real estate market; prices are low and property moves sluggishly while the proprietor could put the house on the market.

In addition, the homeowner is not at financial risk for this kind of scheme since the buyer has the responsibility for paying fees. This transaction is private, a situation that could save the homeowner embarrassment.

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Colorado Springs real estate has some of the best homes for sale. Hundreds of people come looking for homes for sale in Colorado Springs. If you too are looking for your dream home here, you may hire the services of a reputed Colorado Springs REALTOR who will help you find what you are looking for. And if you have any questions about Colorado Springs commercial real estate you may please contact Mike Stuard.

 

Is Real Estate Still About "Location Location Location"?

Is Real Estate Still About "Location Location Location"?

When buying a house, the conventional maxim asks you to focus only on location. There is no doubt that location is very important. But, there are many other issues to keep in mind so that your efforts to ensnare a dream home do not become a utopian mirage. This article talks about some of those issues:

Do Not Be So Sure That You Can Time the Market

There is a shipload of pundits out there who will swear that the market has reached its crest or its trough -- or both! But, it is your money in the game. So, do not let them all take you for one grand ride. Buy a house when you need it and can afford it.

It Does Not Cost What You Think it Does

Do not just look out for the basic cost of transacting. Depending on the specific property, you could expect to spend tons of money on getting stuff up to shape. For instance, if you are buying a house, you might have to take care of interiors, plumbing, fixtures, ceilings, walls, painting, carpets, flooring, windows, doors, well that is just the beginning of the list. There is a whole lot more. Make sure to factor it all in.

Do Not Fall For Common Tricks of the Trade

If you are a first time home buyer, there is always the chance that you might fall prey to some of the common tricks that a home seller might resort to. Here are a few for your reference, but it is up to you to use your creativity and imagination to avoid getting fooled.

Trick 1: Using excessive illumination to make the house look cheery.

Some sellers will switch on all lights when they are showing you their home -- even if it is daytime. This makes the home look different than it actually is. Politely request to turn off some lights to get a better idea.

Trick 2: Using fragrances to disguise the stink.

Surely that is something you would have caught, right? Make sure you do.

Trick 3: Being unavailable to answer questions.

It is ok for the seller to be missing when you visit the home. But they must answer all your questions unambiguously.

Those are just a few of the issues you need to keep in mind when buying a house.

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Buying a Colorado Springs real estate property can be one of the most important decisions of your life. many people come looking for homes for sale in Colorado Springs. To ensure that you get the best deal in the market, hire the services of a reputed and well established Colorado Springs REALTOR, one who will show you the properties that meet you standards and requirements and fits your budget and also help you with the process of buying that property. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Surviving a House Move

Yes, I'm still in the process of moving into our new home. We decided to downsize... really bad idea!

There have been times when I have been ready to pull my hair out, but I'm on my second week and here is what I have learned!

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  Take it slow. Unpack slowly. There is no big rush… even if you feel that there is. At this point in time, things can be very overwhelming.
  
  


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  Try to get back to some sort of routine as soon as possible. Your life has been turned upside down. You need a routine!
  
  


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  Control your temper. You are going to be irritable… trust me. If things are going to go wrong, this will be the time. There must be a law of some sort.
  
  


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  Sort out the kitchen and the family room first. Then you have a place to relax in. the other rooms can follow.
  
  


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  A new home needs a house warming from the new family… your family and that’s why I came up with the idea of buying a new puzzle every time we moved to a new address. Place a puzzle on the dining room table and the minute you find yourself at loose ends, head for the table and get to work. Don’t be surprised if the rest of the family suddenly join you.
  
  


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  Get to know your new neighbourhood and take in a little fresh air at the same time. You might even meet some friendly new faces.
  
  


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  No cable hook-up? As I write this, I’m still waiting and will be waiting for another... four days. Yes, somehow our request for hook-up got lost and we have been put back on the waiting list. So, this afternoon, I watched a movie and an old one at that. There is nothing like an old movie to start some new memories in your new home. Actually, I kind of enjoyed it! The hot chocolate that I made to go with it wasn't half bad either!!
  
  

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I am sure many people who are buying Colorado Springs real estate will find this article helpful. Each year hunderdsof people come looking for homes for sale in Colorado Springs. if you too are among them, you should consider hiring the services of a reputed Colorado Springs REALTOR who will guide you through the entire process of buying the real estate property. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Real Estate Property

When you are purchasing a real estate property, both you and the seller prepare a legal document called the purchase agreement. It can be also called ‘sales agreement’, ‘agreement of sale’ and ‘contract of purchase’.

The purchase agreement regulates relations between the seller and the buyer of a real estate property of commercial value. This legal document outlines the terms and conditions under which the real estate will be sold. It defines the conditions which are to be adhered to by both parties in order for the deal to be closed.

The price of a purchase, real estate property description, locality or the real estate, time the offer stays open, the earnest amount as well as other provisions are specified in the purchase agreement.

Generally, the protection of the buyer’s interest is the main task of the purchase agreement. For example, this legal document may contain paragraphs relating to what should be done about defects of the specified real estate property if there are any. These defects can be either repaired by the seller without any extra cost for the buyer or the buyer might opt to get them repaired at his own cost. This will provide grounds for negotiating essential discount for the purchase.

One of the most important provisions of the purchase agreement is the issue of backing out of the transaction. It should be clear if either party can do it or not and under which circumstances. Financing problems and legal issue are the most common reasons for the cancellation of the existing sales contract. Purchasers of real estate property should have all the necessary information about the legal grounds for the cancellation. The seller, on the other hand, can break the agreement. However, if the seller initiates the break of the deal the purchase agreement informs the buyer what the procedure for seeking claims for damages is.

Purchase agreement can be prepared by you. However, it would be very helpful to get it done by a real estate attorney or an agent. A lot of agents might recommend taking a generic purchase agreement. You can do it if you are sure that such standard form of agreement meets all your requirements and is sufficient to protect your interests. To be on the safe side, you should seek the advice of a lawyer. A lawyer will ensure that your contract is reliable and reflects all the provisions to make you feel secure about your investment.

You should also be able to determine if the purchase agreement is legally binding. However, this document can be confusing, thus it is better to seek legal counsel. This will ensure that you understand the complexities of the terms and conditions of your real estate purchase agreement. If you do not have contract law background and you do not use any professional legal counsel, this might cause various complications for you. Thus, it is vital to get professional consultation of a lawyer. And though legal counsel costs much more than cheap real estate forms available on the Internet it might save you quite a fortune in the long run.

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Colorado Springs is a great plece to call home. Owing to its popularity, there is a great demand for Colorado Springs real estate properties. Hundreds and thousand of people come looking for homes for sale in Colorado Springs. If you too are lookign for your dream home in Colorado Springs, be sure to hire the services of a reputed and well established Colorado Springs REALTOR who will help you in your pursuit. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Basics of Real Estate Law

Real estate is such a broad topic. This topic covers almost the whole world and every individual has concerns regarding this.

Like any other things in this world, certain laws govern real estate, the so called real estate law. Nevertheless, to fully understand what real estate law is, it is necessary to define real estate.

What is real estate?

Real estate is a legal term that includes land along with anything permanently affixed to the land such as buildings, fences and things attached to the buildings, such as plumbing, heating, and light fixtures. The properties not affixed are regarded as personal property.

Just like real estate, the real estate law is such a broad topic as well. If you are going to discuss it in a very simple way, real estate law is only the law, rules, regulation and other legal matters that governed real estate.

Real estate law entails things like owning real property, the typical restrictions imposed on owning real property, the common forms of property ownership and many others. As said earlier, it is very broad.

In this article, real estate will be discussed through the basics of real estate law. The basics of real estate law include understanding real property, the ownership, the restrictions, and the forms of property ownership.

Understanding its basics, you will definitely have the right thought about real estate law.

One of the basics of real estate law is real property. What is real property? Real property is simply the real estate. The real property is used interchangeably with real estate.

However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from thereal property, referring to ownership rights over real estate.

Real estate also entails about owning real property. What is owning real property about? Owning real property allows you the right to do with the land as you please aside from those subject to restrictions imposed by real estate law.

Owning a real property means you can do anything with it such as use it; give it away; sell or transfer it; use it as a collateral for loan; bequeath it to intended beneficiaries or let it sit where it is without doing anything to it. In other words, owning a real property is having total rights on a land and no one can ever question you for it is yours.

In owning a real estate, some typical restrictions are being imposed by law. There are a number of laws that restrict what you can do with thereal property. It may be federal, state, county and local laws. The enforcement of these laws resides with the various agencies.

The most common restrictions imposed by government are zoning. It is an environmental hazard, public easement, right of way.

If there are restrictions imposed, there are also forms of property ownership. These are joint tenancy; tenancy in the entirety; sole ownership; tenants in common and community property.

In joint tenancy, two or more people own the property at the same time in equal shares. In tenancy in the entirety, some estates have especial form of joint tenancy when the joints are husband and wife- with each owning one half.

In sole ownership, the property is owned entirely by one person. Two or more persons own common tenants' property at the same time. Meanwhile, community property is only recognized in the estates. It is a special form of joint tenancy between husband and wife, each owning one-half of their properties. Upon death, the decedent's interest passes in a manner similar to tenants in common.

The basics of real estate are the best information needed in order to understand real estate law. With this basics information, although real estate is very broad, you have the capabilities of understanding it into its deeper sense.

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It is important to understand the real estate laws when you are looking for Colorado Springs real estate properties. There are some great properties to choose from. Many people come looking for homes for sale in Colorado Springs. If you too are looking for a dream home here you may hire the services of a reputed Colorado Springs REALTOR who will guide you in all matters concerning the ownership of a property. For those of you looking for Colorado Springs commercial real estate properties, you may contact Mike Stuard for more details.

Rent to Own Pros & Cons

Rent to Own Pros & Cons

The rent-to-own transaction was developed in the 1960s to help customers obtain electronics, furniture and other household items without falling into debt or jeopardizing credit. Rent to own works through the renting out of products for specified rental periods. Once a consumer has rented (and made rental payments on) an item for a contractually specified length of time, he owns the item. Rent to own is also available for homes and is often referred to as a lease purchase or lease option agreement. With rent-to-own homes, tenants usually apply a portion of their monthly rent toward the eventual purchase of their apartment or house from the landlord.

Eligibility: One of the main advantages of rent-to-own transactions is that all consumers, regardless of credit standings and financial history, can benefit from them. Even if individuals have histories of foreclosure, bankruptcy and poor (or incredibly poor) credit, they can still rent to own products from retailers. When it comes to rent-to-own homes, there are no eligibility restrictions. Only the landlord or seller has the power to approve a potential tenant/buyer, eliminating the need for mortgage approvals.

Flexibility: When it comes to retail, rent-to-own agreements are specific to each rental period. Customers can change payment terms and conditions and can also stop payments and return products whenever they wish, for whatever reason. Rent-to-own homes, however, is not nearly as flexible. Once a contract has been finalized, tenants who violate it can be very quickly evicted (sometimes violations can be as little as one late payment). Any down payments or monthly premiums that were paid by the tenant are non-refundable in this instance.

Product Affordability: Renting to own allows consumers to make payments on products interest-rate free. Consumers who choose the option of making a few large payments on an item often end up paying a price close to retail value. However, consumers who make many small payments over a longer period of time often end up paying more than retail value.

Home Affordability: Renting to own a home is not necessarily cheaper in the end than standard purchasing, though it can be beneficial for individuals with poor financial backgrounds. However, while no mortgage approval is required to rent to own a house, according to iRentToOwn.com, tenants realistically thinking of owning should be able to qualify for a mortgage. Ideally, tenants will only have to make an initial down payment and pay one month of rent because they can then refinance the home and use its equity to cover costs.

Ownership: According to the Association of Progressive Rental Organizations, about 75 percent of customers renting to own return items within the first four months of renting. If the product is returned during a payment period, customers can reinstate their payment histories within a time specified by state law. One problem with rent-to-own homes is that landlords (who never intend to sell) sometimes scheme potential buyers out of down payments and rent.

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Colorado Springs real estate has some of the best homes for sale. Hundreds of people come looking for homes for sale in Colorado Springs. If you too are looking for your dream home here, you may hire the services of a reputed Colorado Springs REALTOR who will help you find what you are looking for. And if you have any questions about Colorado Springs commercial real estate you may please contact Mike Stuard.

 

How to inspect foreclosure or REO property

When you purchase a foreclosure or REO property, the seller usually sell the property as-it-is. So, it is important to inspect the property before making an offer for foreclosure or REO property. Otherwise, you may be in for a shock.

Instructions

Step 1

First, as whether the seller or the bank has done any inspection for the foreclosure or REO property. In many cases, they actually have hire the professional inspector to check out the property and used it to determine the property value. If you ask the seller's real estate agent, they will be willing to share with you such inspection report.

Step 2

Then, hire your own professional inspector for the foreclosure or REO property. You can actually hire the same inspector that the seller use. In such case, you actually asking for a re-inspection, which can be obtained by significant discount. Make sure that you have inspector for roof, inspector for pluming, and inspector for general property condition. The reason for professional inspector is to check for places below the surface where you can not see.

Step 3

After the inspection, use the result as a bargaining tool to get price concessions from the seller. You should list the prices to fix all the problem in order to get the property up to the code, and deduct that from the estimated value. Given enough reason, the seller would be more willing to work with you on the price.

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Colorado Springs is a great place to call home. With the Colorado Springs real estate market slowly picking up pace, there are some fantastic homes for sale in Colorado Springs. For those of you looking to relocate to Colorado Springs can hire the services of a reputed Colorado Springs REALTOR to help you find a home that suits your style and budget. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

 

Multiple Listing Service

A Multiple Listing Service (MLS) (also Multiple Listing System or Multiple Listings Service) is a suite of services that

1. enables brokers to establish contractual offers of compensation (among brokers);


2. facilitates cooperation with other broker participants;


3. accumulates and disseminates information to enable appraisals;


4. is a facility for the orderly correlation and dissemination of listing information to better serve broker's clients, customers and the public.

A multiple listing service's database and software is used by real estate brokers in real estate (or aircraft broker in other industries for example), representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to cooperate with a seller's broker in finding a buyer for the property or asset. The listing data stored in a multiple listing service's database is the proprietary information of the broker who has obtained a listing agreement with a property's seller.

There is no single authoritative "MLS", and no universal data format. However, in real estate there is a data standard - Real Estate Transaction Standard - that is being deployed among many MLS's in North America. The many local and private databases—some of which are controlled by single associations of realtors or groupings of associations (which represent all brokers within a given community or geographical area) or by real estate brokers—are collectively referred to as the MLS because of their data sharing or reciprocal access agreements.

Seen most widely in the US and Canada but spreading to other countries in a variety of forms, the MLS combines the listings of all available properties that are represented by brokers who are both members of that MLS system and of NAR or CREA, (the National Association of Realtors in the US or the Canadian Real Estate Association).

The primary purpose of the MLS is to provide a facility to publish a "unilateral offer of compensation" by a listing broker, to other broker participants in that MLS. In other words, the commission rate that is offered by the listing broker is published within the MLS to other cooperating brokers. This offer of compensation is considered a contractual obligation, however it can be negotiated between the listing broker and the broker representing the buyer. Since the commission for a transaction as well as the property features are contained in the MLS system, it is in the best interests of the broker participants (and thereby the public) to maintain accurate and timely data.

The additional benefit of the MLS system is that an MLS subscriber may search the MLS system and retrieve information about all homes for sale by all participating brokers. MLS systems contain hundreds of fields of information about the features of a property. These fields are determined by real estate professionals who are knowledgeable and experienced in that local marketplace. Whereas public real estate websites contain only a small subset of property data.

In North America, the MLS systems are governed by private entities, and the rules are set by those entities with no state or federal oversight, beyond any individual state rules regarding real estate. MLS systems set their own rules for membership, access, and sharing of information, but are subject to nationwide rules laid down by NAR or CREA. An MLS may be owned and operated by a real estate company, a county or regional real estate board of realtors or association of realtors, or by a trade association. Membership of the MLS is generally considered to be essential to the practice of real estate brokerage.

Limitations of access to the MLS

Most MLS systems restrict membership and access to real estate brokers (and their agents) who are appropriately licensed by the state (or province); are members of a local board or association of realtors; and are members of the trade association (e.g., NAR or CREA). However, access is becoming more open as internet sites offer the public the ability to view portions of MLS listings (see below).

A person selling his/her own property - acting as a For Sale By Owner (or FSBO) - cannot generally put a listing for the home directly into the MLS. An example of an exception to this general practice is the MLS for Spain, [AMLASpain], where FSBO listing are allowed.) Similarly, a properly licensed broker who chooses to neither join the trade association nor operate a business within the association's rules, cannot join the MLS.

However, there are brokers and many online services which offer FSBO sellers the option of listing their property in their local MLS database by paying a flat fee or another non-traditional compensation method.

MLS Systems in North America

Canada

In Canada, MLS is a cooperative system for the 82,000+ members of the Canadian Real Estate Association (CREA), working through Canada's 99 real estate boards and 11 provincial/territorial associations.

The Real Estate Board of Greater Vancouver (REBGV) claims to have pioneered the first MLS in Canada.

A publicly accessible website (at realtor.ca, formerly mls.ca) allows consumers to search an aggregated subset of each participating board's MLS database of active listings, providing limited details and directing consumers to contact a Realtor for more information.

United States

The largest MLS in the United States is currently the Washington, DC region's Metropolitan Regional Information Systems, Inc (MRIS) covering Washington DC, most of Maryland (including the Chesapeake Bay counties) and suburban Virginia counties, and parts of West Virginia and Pennsylvania. As of late May 2008, it has about 55,600 active members, according to the public access sections of its website, although numbers vary according to when accessed.

New York City

Although the other boroughs and Long Island have a well accepted MLS, MLS has never taken hold in Manhattan. A small group of brokers formed the Manhattan Association of Realtors and operate MLSManhattan.com. MLSManhattan has a small fraction of the total active inventory in Manhattan. The Bronx Manhattan North MLS also offers coverage in Northern Manhattan. It too has failed to acquire widespread adoption by brokers.

The prevalent database is operated by the Real Estate Board of New York (REBNY), a non-Realtor entity that suceded from the National Association of Realtors in the 1980s. REBNY operates a database called RLS which stands for REBNY Listing Service. A predecessor of RLS was marketed as R.O.L.E.X (REBNY Online Listing Exchange), before Rolex Watches claimed trademark infringement.

Unlike MLS, RLS does not have under contract, sold or days on market data, nor does it have rental listings. RLS is more of a Gateway of Active listings. There is no single database. The RLS gateway is populated by several private databases that include Online Residential (OLR) and Realplus a proprietary database exclusive to a few large Manhattan Brokers. These databases exchange data continually effectively creating several separate systems with essentially similar data. Another vendor, Klickads, Inc D/B/A Brokers NYC, owned by Lala Wang sued in 2007 to be included in the list of firms permitted to participate in the Gateway.

Policies on sharing MLS data in the USA

The National Association of Realtors (NAR) has set policies that permit brokers to show limited MLS information on their websites under a system known as IDX or Internet Data Exchange. NAR has an ownership interest in Move Inc., the company which operates a website that has been given exclusive rights to display significant MLS information. The site is Realtor.com.

Using IDX search tools available on most real estate brokers' websites (as well as on many individual agents' sites), potential buyers may view properties available on the market, using search features such as location, type of property (single family, lease, vacant land, duplex), property features (number of bedrooms and bathrooms), and price ranges. In some instances photos can be viewed. Many allow for saving search criteria and for daily email updates of newly-available properties. However, if a potential buyer finds a property, he/she will still need to contact the listing agent (or their own agent) to view the house and make an offer.

The U.S. Department of Justice filed an antitrust lawsuit in September 2005 against the National Association of Realtors over NAR's policy which allowed brokers to restrict access to their MLS information from appearing on the websites of certain brokers which operate solely on the web. This policy applied to commercial entities which are also licensed brokerages, such as HomeGain, which solicit clients by internet advertising and then provide referrals to local agents in return for a fee of 25% to 35% of the commission.

The DOJ's antitrust claims also include NAR rules that exclude certain kinds of brokers from membership in MLSs. NAR has revised its policies on allowing access on web sites operated by member brokers and others to what might be considered as proprietary data.

The case was settled in May 2008, with NAR agreeing that Internet brokerages would be given access to all the same listings that traditional brokerages are.

Origin of the MLS

According to the National Association of REALTORS:

"In the late 1800s, real estate brokers regularly gathered at the offices of their local associations to share information about properties they were trying to sell. They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principal that's unique to organized real estate: Help me sell my inventory and I'll help you sell yours."

Alternatives and changes to the MLS system

Up until 1968 almost all brokers involved in transactions represented the seller, either as the seller's agent or as the sub-agent of the listing broker. The seller paid the listing broker who, in turn, was responsible for compensating the broker working with the buyer. The MLS was intended to be a simple system that benefited everyone, including both the buyers and sellers.

The 2005 Justice Department antitrust lawsuit against the National Association of Realtors threatens the exclusivity MLS services in the US. If this case undermines MLS exclusivity, open internet MLS systems may begin to thrive, perhaps combined with Web 2.0 technologies such as social networking, allowing buyers and sellers to interact without the need for an agent.

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Colorado Springs real estate market has some of the finest real estate properties for sale. Thousands of people from all over the country come looking for homes for sale in Colorado Springs. They even hire the services of the local Colorado Springs REALTOR to help them find a dream home that suits their style ad budget. It's not just the the homes that are popular here, if you are interested in Colorado Springs commercial real estate you may contact Mike Stuard for the various options available in the market.

 

Real estate in Colorado Springs

The history of Colorado Springs real estate development began in the mid-nineteenth century when the early gold rush miners paved the way for cities and population booms. The mid-twentieth century saw a revitalized boom from declining growth following World War II with the beginning of the Korean War due to a massive increase in military expansion, as well as the scenic views of the picturesque landscape which many people flocked to see. Today, residents or those who have vacation homes in Colorado Springs, Colorado are attracted to the land because of the serene and peaceful surroundings of national historic parks and landmarks, and the beautiful mountains which can be seen from the many parts of the city.

Early Development

The early aspects of commercial development in Colorado Springs, Colorado occurred mostly because of the gold rush in the early-to-mid nineteenth century in the United States. This led to the influx of thousands miners who entered various mining districts mostly within the 2nd half of the nineteenth century, and even into the early twentieth-century. The first mining district in Colorado was The Gregory Mining District, founded in 1859 by the Scottish southerner and pioneer miner John H. Gregory (born December 27, 1820 – missing 1863). These times were very prosperous for both the mines and the government. (The Cresson Mine, located about 72 km (45 road. miles) southwest of Colorado Springs in the Cripple Creek Mining District, remains the state’s largest gold-producing mine today.)

Decline in Colorado’s Gold Rush

The decades before World War II saw a decline in the flow of gold and silver, which took with it both population and interest in commercial development in Colorado Springs. Once was a time when gold mining was prosperous in Pike’s Peak (located a few miles northeast of the Cripple Creek Mining District) who’s nearest city is Colorado Springs. Despite the decline in gold mining, an increase in tourism began, due to the breathe-taking scenery of Colorado Springs, which became a recuperation spot for tuberculosis patients.

Post World War II Era and the Korean War Real Estate

The United States Army established Camp Carson in 1942 to train and house military troops at this new base in preparation for the World War II. The Carson base was eventually increased in size, which enlarged the city boundaries of Colorado Springs since the base was situated near its border. This expansion provided the city with enormous industrial growth. While post World War II displayed a decline in the Camp’s base to only 600 soldiers, the commencement of the Korean War reactivated it, as well as military enlistment in other parts of Colorado Springs. Furthermore, The United States Air Defense Command relocated to Colorado Springs and opened Ent Air Force Base (which was closed in the mid 1970’s and later converted into the United States Olympic Training Center).

In 1954, Colorado Springs became home to the Air Force's military academy. This and other military expansion led to significant enlargements of city limits and produced a boom in new industries and increased revenues. In fact, military expansion is continuing the growth of Colorado Springs today.

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There are some fantastic properties to choose from in the Colorado Springs real estate market. Thousands of people come looking for homes for sale in Colorado Springs. If you too are looking to buy a property here, you must hire the services of a reputed Colorado Springs REALTOR who will help you find your dream home to suit your style ad budget. And if you are interested in Colorado Springs commercial real estate you need to talk to Mike Stuard for the various options available in the market.

Sell Your Home Faster with a Pre-Listing Home Inspection

The reports abound about a slow down in the real estate market. Homes are sitting on the market for longer periods of time, and sellers are finding that buyers are more concerned with the condition of the home. With more homes on the market to choose from, buyers can afford to walk away from a deal, if the conditions of the home are not to their satisfaction.

How well do you know YOUR home?

• Why wait for a buyer's Home Inspector to uncover hidden problems, after you have already accepted an offer that could end up costing you thousands in a lower negotiated selling price?


• A Professional Seller's Pre-Listing Home Inspection can help you identify critical areas of concern up-front.


• You decide whether to perform repairs or disclose during initial negotiations.

Pre-listing Home Inspection Benefits

There are many benefits to having your home inspected before listing. With a pre-listing inspection your home could sell faster and for more money without any renegotiations because results of the inspection will be presented ahead of time. Your potential buyer will be reassured about the condition of the home from the detailed inspection report. A pre-inspected listing will also give you the ability to fix any problems and deal with any issues ahead of time, so there won't be any surprises.

1. Home could sell faster!


2. Home could sell for more money!


3. No more buyers walking away bec away because they don't have time for an inspection.


4. No more parade of inspectors through your home before a multiple-offer situation.


5. You choose the inspector based on reputation and credentials.


6. You resolve any differences of opinion before the house goes on the market.


7. You fix any problems you like or recognize the problem and reflect it in the purchase price - take it off the table as a negotiating tool against you.


8. Inspection Report can be made available as an HTML web page link, to be included on your listing agent's web site. That way, prospective buyer's can see the report in advance.

Many inspectors will come back to re-inspect fixes

If you fix or improve areas noted in the report, many home inspectors will return to the home, to update the report to reflect the current status. This can be a big selling advantage, in particular in a slower market, where buyers are more concerned with condition and value.

As real estate market conditions continue to soften, you need every advantage possible to help your home sell. Don't wait with your fingers crossed, hoping the buyer's home inspector doesn't find any problems. Consider a pre-listing home inspection to put you in the driver's seat and to present your home in the proper light.

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Buying a Colorado Springs real estate could be one of the most important decisions of your life. Owing to the popularity of the area, many home seekers come looking for great homes for sale in Colorado Springs. If you too are looking to buy a home here, you may want to hire the professional services of a Colorado Springs REALTOR who will help you find a home that suits your style and budget. If you are looking at Colorado Springs from buiness point of view and wish to invest in a Colorado Springs commercial real estate then you may contact Mike Stuard for more details.

 

How an Agent Can Be of Help in Commercial Real Estate

For purchasing commercial real estate in a smart way, the help of a real estate agent is indispensable. Engaging a real estate agent is a suitable method to purchase a commercial real estate because there is high probability that you might lose thousands of dollars if you commit awful blunders or fail to benefit from potent investment opportunities in commercial real estate. This is the reason why locating and employing a commercial real estate agent has to be your priority – it could make or mar your commercial real estate project.

Advantages of employing commercial real estate agents

Expert commercial real estate brokers or agents offer you the accessibility to the most dependable details about the commercial real estate market. They offer you data regarding the current sales prices, comparative labor and tax expenses and vacancy rates and absorption rates to assist you in taking knowledgeable decisions.

These commercial real estate agents and brokers have a lot of experience and they are able to help you understand the current market trends of leasing and the present statistics. In addition, they would render you a clear-cut competitive breakdown of various commercial real estate that is appropriate for your budget and utility. They would offer you comprehensive details about the commercial real estate industry such that you become able to predict chances, acquire a competitive benefit, as well as utilize the most favorable real estate strategy.

When you are considering about constructing commercial real estate, it is better that you seek the help of a commercial real estate agent. He would help you ascertain the most appropriate site utilizing precise local market information and a fair idea about the economic developments which influence the commercial real estate market. These real estate agents have been particularly groomed to manage very big deals – amounting to millions of dollars. Their aim is to search for investments that would not merely grow in terms of value, but also offer the investor a positive cash flow.

You should not attempt to make investments in commercial real estate without taking the advices of a commercial real estate agent. He would have the correct education to pass on useful consultation, research and business deal guidance to you in order to ensure fluent functioning of your commercial real estate project.

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If you are considering buying a Colorado Springs commercial real estate, you should contact Mike Stuard for his expert advice in finding you the right property. Not just the commercial properties but the Colorado Springs real estate market has soem great homes. Many people come lookign for homes for sale in Colorado Springs. If you too are looking for your dream home here you may hire the services of a reputed Colorado Springs REALTOR who will help you find the home that suits you inevery respect.

 

How Can I Deal With A Bad Credit Home Refinance

The credit score that goes along with you is there for life in our current economic system, for better or worse. This means that if you make mistakes earlier on in life, such as buying things you cannot afford and missing payments, having too many credit cards and several other ways to get bad credit, it will affect you forever. Granted through making better decisions later on in life, such as paying on time, selecting cost effective goods and things to stay within your means, you can get your credit score to go up. This can be crucial when getting a loan or refinancing your home.

When you get a bad credit home refinance, you are attempting to restructure your mortgage for better rates, but you are doing so with a handicap. It can be difficult to negotiate on your own terms when you already have a poor credit score stacked up against you. Why should a financial institution take your word on something that could be a risky venture for themselves?

However, you should not despair entirely. You can still get a better deal on a bad credit home refinance than you are currently getting in your mortgage. This is especially true when your credit was even worse when you initially locked into your mortgage. This way, even though your credit is still bad, it looks significantly better and that positive upward trend will definitely be a positive in the eyes of the lender you are dealing with.

Refinancing your home is supposed to give you a better deal or allow you to pay off your home faster than you had originally planned. In no way would you want to refinance into a mortgage that is well below the means you can afford, as you will end up paying significantly more through increased interest rates.

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Buying a Colorado Springs real estate property can be one of the most important decisions of your life. Owing to the popularity of Colorado Springs, more and more people are come looking for homes for sale in Colorado Springs. If you too are interested in buying your dream home here, you may hire the services of a reputed and well established Colorado Springs REALTOR who will guide you through the process of buying a home. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

How To Invest In Property Without A Large Upfront Investment

Many people realize the benefits of property investment. You will own a piece of land that allows you to see a return on your investment. Property or real estate is safe, too. Property is valuable, and often sees a fast turnaround on return. It is also something substantial to own and care for. While these benefits are great, there are many more reasons to invest in property to build wealth. Yet, in the most traditional way of investing, you will need a large upfront investment or down payment. For those that wish to avoid having to pay this type of monetary risk, why not consider a type of investing that allows you to put up much less? Property options allow you to do that.

Why Not Invest Your Cash?

When you are considering how you will build wealth, you have to weigh all sides of the coin, so to speak. For example, you need to consider how much you should put down on the purchase of a piece of property and how much cash you should keep available to you. When purchasing real estate traditionally, you may be tempted to put a large monetary investment into the property. After all, you do not want a high mortgage payment or cost with your investment. On the other hand, you may want to consider how much you should put in. In comparison to what you have available to your needs, having cash in the bank can be more important. Most investors will caution about putting too much of your cash into a mortgage. Therefore, you will want a type of real estate investment that allows you to invest without a lot of up front deposit.

Property Options

One type of property investment that will allow you to do this is the property option. With this option, you are not outright purchasing any piece of real estate. Instead, you are purchasing the right to buy the property at a later time. On the agreement, these terms are outlined specifically. Nevertheless, during this time you can still profit from owning the property. When the property increases in value, you still have the ability to profit from this. Ultimately, a property option allows you to gain a return on your investment without the large upfront investment that can be so worrisome.

Can You Do It?

Many people today do not invest in real estate because they are too concerned with the risks involved. Others believe they have to have a degree in real estate to actually invest in it. You do not have to have a lot of money, nor a lot of education in property investments to take advantage of property options. You can build wealth easily, with a low investment, and build your wealth quickly. If you have the desire to do this, you can use property investments to make it happen.

The key to being successful when investing in property is to know the best way to make the deal by putting as little on the table as you need to. While just a decade ago, many people did not realize the potential in purchasing property options; today it is one of the best moves that can be made. Some of the most well known investors use this tool to allow them to find success. You can too.

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Colorado Springs real estate is the most sought after property these days. More and more people are looking for homes for sale in Colorado Springs. If you tooare looking for your dream home, you may hire the services of a reputed Colorado Springs REALTOR who will help you find one that suits you in every way. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

The Advantages Of Home Ownership

Owning a home was once the greatest symbol of the American Dream. And although the American Dream has changed a bit over time, home ownership remains an important part of what it means to be a successful American. But more than just the pride that you can take in having achieved this dream, home ownership gives you a number of other benefits that can ease your daily life and help you prepare for your future. While there are obvious financial benefits to owning your own home (as opposed to renting), there are also other advantages.

Here are some of the advantages of home ownership:

• Tax deductions. There are all sorts of tax deductions which are available to home owners that aren’t available for people who rent. This allows you to save money every single year that you’re a home owner. These deductions include mortgage interest and property tax deductions. There are also certain tax tricks in the future when you sell your home.


• The money that you spend on a home mortgage goes towards a home that can eventually be yours to sell, rent or will to your kids. The money that you spend on rent just disappears to your landlord’s bank account.


• The value of your home will almost undoubtedly increase. There area always ups and downs in the market, but home values across the nation have consistently risen. This means that you’ll be your home today and it will be worth more than you paid for it at some date in the future. And looked at from the other side, the home you’re renting will also be worth more, so your rent can go up in time.


• You can use your home for future loans. When you have some of your home paid off, you are able to access loan money against the value of the home. This allows you to get lower interest rates
  
  than you would receive from private loans (or credit cards) which are all that might be available to you as a renter. Even if you don’t get a loan against your home, home ownership improves your credit and makes it easier to get better rates on private loans.


• You own your home so you can make changes to it to really make it yours. When you rent, there are limitations on the changes that you can make at the home. Often, you can’t hang shelving or even paint the walls, so your home lacks personality. Home buyers don’t have these concerns.

Basically, if you think about all of the things that you dislike about renting a home (or apartment), you’ll find that they are problems that disappear when you buy your own home. With home ownership, you’re no longer throwing your money away to a landlord who controls everything about the home. You’re establishing good credit and making a lasting investment. And the truth is, there still is some value to the old American Dream and you can take pride in home ownership.

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There are a number of great homes for sale in Colorado Springs. If you are looking for your dream home in Colorado Springs, you may hire the services of a reputed Colorado Springs REALTOR who will help you find your dream Colorado Springs real estate property that suits your style and budget. If you are looking at Colorado Srings from business point of view and need information about Colorado Springs commercial real estate please contact Mike Stuard.

 

Preparing to Sell Your Home

You have worked hard to maintain your home and ensure that repairs were completed. It's not been that long since everything received a fresh coat of paint and everything else appears to be in good shape ... but is it, really?!

Use the checklist below to ensure that you are ready to sell your home
before it ever gets listed on the market.

• Pull out a tablet of paper and a pen. These will be your instruments to identify any repairs or improvements you may have missed.


• You are now going to take a slow and meticulous walkthrough of the exterior of your home, your yard and the exterior of your home.


• Start at the front door. Walk through each room noting chipped paint, dents in doors or walls, that small edge that keeps sagging on the top of the border in your bedroom. Move on to your garage, yard and the exterior of your home.


• Your goal is going to be to look at your home from a buyer's perspective, and to make your home stands out to buyers. You might want to ask a friend to do the walkthrough with you, so that you can get an objective opinion. Take the friend's comments to heart and include them in your list.


• Note that some of the biggest mistakes that sellers make are to leave clutter, evidence of pets in their homes, and smoke odor. Clutter makes rooms appear smaller and, in turn, makes your home appear smaller. Pet and smoke odor detract from the beauty of your home. All three are a big turnoff for potential buyers.


• Don't forget to note dirty windows, chipped paint on trim of doors and window sills, Fido's dirty dog house, dead spots in the yard, etc.


• Next, buy all the supplies necessary to make the repairs or changes that you've identified.


• Get the family involved and make it a weekend project. You could make memories. Everyone will remember how they got that house on so-and-so Street ready for sale.


• Set a date to complete all the repairs and improvements.


• Once all the repairs and improvements are completed, you're ready to find a real estate agent.


• Call up three real estate agencies and ask for their top sellers. Set up an appointment to Interview the top seller from each of the agencies. Ask them specifically what they will do for you - e.g., place ad in local newspaper, place tube in front yard with sales flyers, etc. Do not prompt the sales agents. Let them tell you, then pick the one you are most comfortable will work hard for you.


• The agent you choose will put together a comparative market analysis
  (CMA). This is a compilation of homes that sold in the area within the last 60-90 days that are comparable to your home's statistics - e.g., # of bedrooms/baths, size, similar amenities. Have your agent provide your copies.


• Work with your agent to sell your home at a competitive price. Keep in mind that if the value of your home exceeds $50k milestones by a couple of thousand, then fall behind the mark a bit. For example, your home's value ends up to be $205,000. You may want to consider $199,500 or $199,750, instead. Or, if the value is something like $375,000, you may want to list the price as $373,200, or in that ballpark. The goal is to make your home appear to be priced much less than it is.


• Finally, in the current competitive market, it's also a good idea to list your home's sale price at a few thousand less than it's actually worth. If you keep this and the previous bullet in mind, it would serve you well to price a $235,000 home at, let's say, $231,875. Your real estate agent can help you with all that.

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There are soem fantastic homes for sale in Colorado Springs. If you are looking to buy a Colorado Springs real estate property you may hire the services of a reputed Colorado Springs REALTOR to help you find a property that suits you in every way. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

+Serious Questions Answered On Real Estate Investing

Who regulates securities?

Each state regulates investments
offered to its citizens. The federal government, through the Securities & Exchange Commission (SEC), regulates offerings across state lines. This means that you'll have to look at the laws and regulations in your state when you're only working with private lenders in your state. If you're working with folks across state lines, you'll need to comply with the laws in each state you're working in and comply with the SEC's rules too.

What about advertising?

It's important to understand that each state sets its rules for advertising investment opportunities, which includes private lending. Every state has opportunities for you to advertise to bring in private lenders. There are strict regulations on this and you need to comply with the states rules.

What about advertising across state lines?

You would use a state exemption that allows you to advertise and only advertise to accredited investors. Accredited investors are defined elsewhere in this package of information. As a reminder, the Securities Act of 1933 has several definitions of accredited investors. The most important for your business are likely to be these two:

1. A natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase;

2. A natural person with income
exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.

So what sort of disclosure should I give my private lenders?

When you are reaching out to private lenders, whether it's just one or a large group, it's very important that you disclose the risks and benefits of the private lending opportunity you're offering them. There are several reasons you should do this. Some are for the benefit of your private lenders, who will want to know what your business is and how they can make money lending to you.

Securities laws work to protect private lenders, so you must disclose to them what the potential downsides are. These might include how long it will take to sell a property; mortgage rate changes, housing market pricing fluctuations, or the cost of rehabbing a property. There are others you'll want to mention.

Disclosure documents will also help you protect yourself and business against possible claims that you didn't describe the business properly. A strong disclosure document will help you protect your reputation and protect you against frivolous litigation. It will also help you comply with securities laws and regulations and, should you get a question from a regulator, help you demonstrate to them you are working to be in compliance.

Commissions- Can I pay them?

The bottom line on paying commissions is: don't. Unless you are using a proper registration or exemption and using a licensed or registered broker/dealer, almost every state prohibits paying commissions for the sale of securities.

Now, in Ohio, it is possible to pay someone to help you get potential private lenders to a luncheon, but only if you pay him or her whether or not these folks end up lending you money. That means that you can't pay them based on their success rate or anything that connects their compensation to getting private lenders. Other states won't even let you do that unless the people you're compensating are registered or licensed broker/dealers.

Public Offerings- What does that mean?

It's easiest to explain what it means by explaining what a public offering isn't.

Generally, any offering that is not exempt under the private offering exemption of the securities act of 1933 (Regulation D) is a public offering. This means that if you aren't using an exempt offering, as we talk about in the course materials, then you are getting involved in a public offering. Each and every state has its own definition of exempt offerings and these aren't considered to be public offerings.

Exempt offerings are what open the door for you to run your real estate investing business successfully and in compliance.

In Summary, remember securities laws and regulations offer you many opportunities to do your real estate investing business and stay in compliance. Yes, there's going to be some paperwork that goes with these laws and regulations. It's just part of doing business, and that's what Alan's course is all about, helping you get into business and do it the right way and successfully.

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Colorado Springs real estate market has some of the best property listings. Owing to the popularity of the area, more and more people are looking for homes for sale in Colorado Springs. If you too are looking for a dream home, you may hire the services of a reputed Colorado Springs REALTOR who will help you in the process of owning the property of your dream, right from the start to the end. For those of you who are interested in Colorado Springs commercial real estate, you need to contact Mike Stuard for more details.

 

Buyer's Vs. Seller's Market For Homebuyers - Tips For Understanding The Difference

The economy works in a cycle and each cycle has an effect in the prices of goods. Each industry has a unique 'market cycle' generally follows the whole economic trend and real estate is no exception. Most people consider the home and property industry to have two phases: the buyer's market and the seller's market. Knowing which market the industry is in can benefit you as a homebuyer.

Houses are generally affordable in a buyer's market and it's easy to get a loan since interest rates are lower than average. You may even see numerous 'For Sale' signs in front of homes.

In a seller's market, people might state that the home and property industry is in crisis. It would be hard to spot affordable deals and some sellers might organize exclusive lotteries wherein select buyers bid on exclusive homes.

Buying a home in the right market cycle can give you more value for a home compared to its purchase price. The only problem is "cycle phases are much easier to pinpoint long after the fact", according to Barron's 'Smart Consumer's Guide to Home Buying'. They further explain that "if you know what to look for, it's easier to figure out the state of the market." Look for these market indicators to guide you in the timing of your home purchase:

As mentioned, 'For Sale' signs are everywhere in a buyer's market. At this time, sellers are giving incentives, such as concessions and discounts, to sell their properties quickly. There would also be an increase in the number of foreclosures and high-priced, quality homes will be sold for lower-than-average prices.

Expect to see very few 'For Sale' signs in a seller's market. Prices of homes are relatively high and sellers within the same neighborhood employ competitive selling tactics. There are a lot of people who 'flip' homes; buying and renovating a home and quickly selling it. Many rental complexes are also converted into condos during this cycle.

The best time to dive in and purchase a home is during a buyer's market. It's pretty obvious but as a buyer, you would want to buy a home at the lowest possible price. Most sellers will give discounts and other incentives for you to make an offer. Just keep in mind that you still need the guidance of a professional realtor to navigate the market and find the right home for you, especially if you are a first time homebuyer.

Homebuyers must have a strategy to help them out in the entire homebuying process. Homebuyers are advised to look for market indicators, work with a professional and do their own research to come up with a plan and choose their best option.

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Buyer's market or the seller's market, when you are looking for homes for sale in Colorado Springs, you should hire a reputed Colorado Springs REALTOR to help you find the right Colorado Springs real estate property that will suit you in every respect. If it's a commercial real estate that you are interested in, you need to see Mike Stuard for all your Colorado Springs commercial real estate needs.

Home Selling Process

If you want to sell a home on your own without a costly real estate broker, you can do it by following certain steps. It is not at all a difficult task and simpler than what the majority of people feel. Nevertheless, it would require some activities from your part. You need to do a number of things that a realtor might usually do. If you go by a step-by-step approach for selling your home, the entire home selling procedure would become easy.

Steps Involved

1. Get your home ready for sale – make it attractive

2. Price your home efficiently

3. Find a real estate lawyer

4. Marketing for your home

5. Negotiation of a bid on your home

6. Home inspections

7. Buyer appraisal and other information

8. Closing

It is money that matters. Sellers can save a lot of money if they don't pay a commission of 6% or 7%. For instance, if your home can be sold for $200,000, you can save $12,000 to $14,000 in commissions.

Sell your home quick. Since you are not making payment for an exorbitant sales commission, you are able to value your home more assertively. The lesser the price, the more is the probability that it would sell quickly. You can walk off with thousands of dollars as savings, but you would simply be performing it sooner.

If you follow the home selling steps properly, it would become quite simple. A real estate broker also knows that.

Eight Simple Steps for Selling Your Home

Step 1: Get your home ready for sale – make it attractive: If you can make your house attractive, you would be able to draw a considerable number of eager homebuyers. Your objective is to amaze homebuyers. Get the views of your neighbors about the outlook of your house and ask them how you can make it more presentable.

Step 2: Price your home efficiently: You should not price your house excessively high. If you do that, it would lessen the interest of the buyers. This is the most important cause why home sellers cannot sell their homes profitably. You should always keep in your mind that the home price is determined by the home selling market and not you (the seller).

The simplest means to correctly price your home is to get in touch with your local home appraiser.

Step 3: Find a real estate lawyer: It is always prudent to engage a real estate lawyer in spite of the fact that it is an extra cost. He would work for protecting your interests during the whole deal. A seasoned lawyer would help you assess complex offers (where there are a range of terms and conditions), function as an escrow agent for holding the down payment, assess complicated mortgages and/or rentals with options to purchase, analyze deals and manage the closing procedure of your home.

Step 4: Marketing for your home: For selling your home quickly, exposure is an important factor.

Writing your advertisement for sell: If you are giving a newspaper advertisement, the ad must be detailed yet short, easy to understand and pertinent.

Home photos: If you provide a photo of your home, it would work like a thousand words.

Open houses: You can conduct an open house with the help of realtors for drawing buyers to your home.

Lawn signs: Lawn signs work as one of the strongest marketing tools for home sellers. They draw notice to your home. It can be a professionally produced sign or a directional sign.

Information sheets/home brochures: Making an information sheet along with a photo of your house is always advisable to attract prospective homebuyers.

Multiple Listing Service (MLS): Multiple listing service or MLS also assists in marketing your home, especially to realtors who might have knowledge of buyers looking for a home like yours. It is basically a directory utilized by realtors.

Step 5: Negotiation of a bid on your home: You should take the advice of your attorney whenever an offer is made by a homebuyer. You can receive the offer either directly from the buyer or from his attorney. There is an Attorney Review Period applicable, which is normally three days, to decline or modify the offer. It becomes an agreement when the Attorney Review Period has expired and is compulsory. Always evaluate the financial eligibility of the buyer. Also try to get a better idea of the home selling market trends.

Step 6: Home inspections: The potential homebuyer has the authority to inspect your home – therefore get ready. You can also consult your local home inspector to know how your house would score. As soon as the inspections are over, the buyer would send the application to the mortgage lender.

Step 7: Buyer appraisal and other information: The mortgage lender would arrange for a buyer appraisal for your home to ensure that they’re not paying higher than the value of the house. A mortgage commitment is issued by the mortgage lender and all the terms and conditions enumerated on it have to be accomplished by the buyer and his attorney.

Step 8: Closing: Closings normally happen 30-45 days following the signing of the sales agreement. You can close with the help of a title company or a lawyer. During closing, all funds are gathered, any existing liabilities are paid off, the deed is handed over and insurance for a free and clear title is issued. The home seller would get the proceeds in one or two working days subsequent to the closing.

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Buying or selling a Colorado Springs real estate can be a daunting process. It can be made easy if you hire the services of a reputed and well established Colorado Springs REALTOR to help you sell you home fast and for those looking for homes for sale in Colorado Springs, there are some fantastic property listing to choose from. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Own Your Dream House Even Without Savings With Rent To Buy Home Method

Not everyone is lucky to have their housing loans approved. For those who seem to find no way to get to own a house, it looks like it is almost impossible for them to get a house of their own. With the financial crisis that they are experiencing, attempting to acquire a loan may just get them into more trouble later on, and which will even worsen the situation.

If you want to break free from the rental cycle, then the rent to buy home can be an effective way to finally get the chance of paying for your own home, even without stepping inside a bank or a lending company.

The idea of rent to buy home doesn't mean you get to own the house immediately. It still works similar to renting a house on a monthly basis, although there are other additional agreements depending on what the buyer and seller have agreed upon. What is brilliant in this method is that the buyer will get to pay and own the house gradually, without even sacrificing their everyday needs and wants.

This is a slow but sure method that can be very advantageous especially for the buyer, if he has limited ways of purchasing a house, through the rent to buy home method. How can you get a potential seller be interested on rent to buy home method?

If you are familiar with For Sale By Owner or FSBO, this is a method done by sellers through selling their properties without the presence of middleman. The middleman, or the realtor will earn a lot from the commission they will get by helping to close a deal. Some sellers choose FSBO method because they are possibly having financial troubles that make it a bit more difficult for them to sell their properties.

Whatever reason they have, this can be a very good opportunity for you to settle a deal; a deal that will not be one-sided, but an agreement that will best answer the problems of the two parties involve.

The terms and conditions of a rent to buy home system are very flexible, as long as it answers the needs of the two parties and they both agree with it. Buying a house would definitely cost much more compared to just renting for it. Although you don't need to sacrifice your needs just to pursue it, if rent to buy home will not work for you, then try to find other methods. The bottom line is it should be able to solve the problems of both parties- the seller, being able to fix his financial problems; and the buyer, finally gets to purchase his own home.

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Colorado Springs is a great place to call home. With the Colorado Springs real estate market slowly picking up pace, there are some fantastic homes for sale in Colorado Springs. For those of you looking to relocate to Colorado Springs can hire the services of a reputed Colorado Springs REALTOR to help you find a home that suits your style and budget. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Women Drive Real Estate Purchases

Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.

The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.

Women's earnings have accelerated over the last few years and they have emerged as the Chief Purchasing Officers in their households. According to IRS data, women constitute 39 % of the top wealth holders in the country. This means about 2.5 million women possess a wealth of $4.2 trillion put together. Notably, the IRS estimates that by 2050, 42 % of these women will be single or widowed. The IRS further estimates that more wealth is bound to be accumulated among women.

Another growing trend that emerged in a December 2006 study by the National Association of Realtors (NAR) was that about 22 % of homes purchased between July 2005 and June 2006 were by single women who were in the 25 to 34 age range. Women accounted for a record number of 1.76 million home purchases (1 in every 5 homes), a significant increase from 14 % a decade ago. Women's growing success in their careers, higher education, financial independence and a desire to build an early nest on their own, are some of the reasons that have spearheaded this home buying trend.

Among the vast demographic spectrum in the real estate industry, women have become a force to reckon with. Real estate agents are increasingly taking note of their female clients and the power they wield in home buying decisions. By the influence that they bring into play in home buying decisions, women form a significant and growing market that simply cannot be ignored.

If you are considering buying a home, condo, or any other real estate, be sure to seek out the services of a local real estate agent to guide you through this complex process.

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So for all those ladies who wish to invest in a Colorado Springs real estate property or are looking for some great homes for sale in Colorado Springs, you may hire the services of a reputed Colorado Springs REALTOR to help you find one that suits you in every way. And for those looking to buy a commercial real estate property and need any information about the Colorado Springs commercial real estate market, please contact Mike Stuard.

 

Do Your Own Home Inspection

Do Your Own Home Inspection

Anyone who has gone through the process of buying a home in the Colorado Springs real estate market will tell you that one of the most tedious and lengthy part of finding a home is narrowing down your list of prospective homes.

Though time consuming, it is the part that you cannot skip. You can however do it by conducting your own small inspection of the home you wish to buy. Home inspection, big or small, plays an important role. It can help you get rid of bad choices right from the start. Once you have done your mini inspection, it is important to hire professional building inspector to do a thorough check before you finalize the contract.

Here are a few things to look for while conducting your own small inspection:

1. Termites: Look for signs of termites in sleeper and specially hardwood retaining walls.


2. Weep Holes: Make sure that the weep holes are not covered up and are well above the ground. Weep holes are a common place for termites to get into your home.


3. Fascia lines of the roof: Look for any noticeable distortion or blowing.


4. Cracks: Cracks are a sign of major structural problems; look out for evidence of excessive cracking.


5. Leaks: It can be a costly repair, look for minor leaks in the shower or under the skin.


6. Damp spots and stains: They can be signs of major fault.


7. Roof: Look for extremely worn out tiles and signs of corrosion in case of metal roofs. Look out for patch jobs on the roof.

These are just a few things that you can look into, but there could be others that catch your eyes. Be sure to look at the smallest issues which could later turn into a major problem. Finally before you finalize the contract have the professionals do a thorough inspection of your future home. If you are a first time home buyer, you may hire the services of a reputed Colorado Springs REALTOR to help you find your dream home. And as far as inspection is concerned, it also holds true in case of commercial real estate. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

 

Knowing the Perfect Time when to Offer Much Lower than the List Price

If you are considering purchasing a house for the fulfillment of your life-long dream or for future investment
and profitability, it is high time you know the different components in coming up with a great and productive venture. For instance, you ought to learn and understanding basic components of getting the most out of your pursuits. It is not enough that you make a home purchase offer and wait for the home seller to approve your proposition. You ought to learn and determine if you are indeed making a profitable investment. In the current economic condition, making sure that your hard-earned money is in good hands and venture is a must and knowing when to offer a much lower price than the asking price of the property is one example of this salient step.

The perfect time to ask for a price modification particularly geared to deduction or reduction of the list price depends on your preparedness for the proposition. You have to equip yourself with sufficient knowledge as to the trends and patterns of the real estate industry. For instance, know if the market remains to be a buyer’s market, which means that there is an overflowing supply of houses or properties for sale than the percentage of sure buyers in the market. You could definitely take advantage of this trend and use it to effectively pave your way to a price reduction offer. Compare prices of similar properties in nearby places in the vicinity. This gives you the full scenario of the movement of home buying and price rates in the locale and you may use this basis as your solid proof in asking for a lower price.

Determining the perfect time to offer a lower price rate requires a credible and reliable help from a professional real estate agent. There are certain mechanics and technicalities in this industry that are often beyond your knowledge and basic understanding hence you need a seasoned professional to give you advice especially in your pursuits for home acquisition. You may find reliable online sources and even referrals from your family, colleagues and friends to know who to hire and entrust your transactions to.

Another good time to offer a much lower price rate is when you have finished a thorough and accurate home inspection on your prospective property. Home inspection is considered a tool that helps you in making a sound and wise investment. It clearly notes salient home maintenance issues such as pinpointing areas in the house that needs attention for repair and fixture. You must know how to subtract all noted defects and malfunctions and even the estimated amount you are sure to incur when addressing the issue. It is primarily the home owner’s obligation to deal
with these issues on repair and fixture however if he does not budge to your request, you may negotiate further and opt for a price reduction.

Determining the right time to offer a lower price for your prospective property is essential in making a profitable and productive investment. Know when to do it and how to do it correctly and you are bound for an amazing venture in the end.

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Buying a Colorado Springs real estate property can be one of the most important decisions of your life. To ensure that you get the best deal in the market, hire the services of a reputed and well established Colorado Springs REALTOR, one who will show you the properties that meet you standards and requirements and fits your budget and also help you with the process of buying that property. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Realtor Loyalties

Realtors have an important role when it comes to buying and selling real estate. It is their role to bring buyers and sellers together. Without the assistance of local realtors it would be much more complicated to complete a real estate transaction.



Realtors Represent You



Selling or buying real estate involves a large sum of money, sometimes millions of dollars. While there are real estate transactions that seem to run smooth as clockwork there are others that wind up being complicated and full of legalities to overcome. However, there are ways to help protect you and your interests.



Selling



When selling a home you should utilize the services of a local realtor. It is important that your interests are put first and protected. A realtor and/or the brokerage firm that represents you, has the fiduciary duty to protect your position and interests, unless otherwise stated. It is important to talk with your agent concerning what their responsibilities are and how they will protect your interests. The contract between seller and agent is commonly referred to as "seller agency".



An example of how a realtor will protect you when in such a relationship is in existence is by not telling potential home buyers why you are selling the home and if you offer any concessions in price. Of course you may choose to allow this type of information to be disclosed but many times you save it for the negotiations.



Buying



Similar to "seller agency" is "buyer agency". This type of relationship is between the buyer and realtor but the same principles apply. Under this type of agreement the realtor represents the buyer. Information is kept secret to protect the buyer's interests. Also if the realtor finds valuable information concerning the seller and the property that is not being disclosed they are obligated to inform the buyer.



Often time’s home buyers don't enter into this type of agreement but there are times it can be beneficial. The only thing it costs is commitment to that realtor; however time frames can be set in the contract.



Realtors work hard to earn their commission, whether helping a buyer or seller. They drive buyers around town, buy an occasional lunch, and research the market. When buying and selling real estate it is important to know your rights and where the loyalties lye of the realtors involved.

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Hire the services of a reputed Colorado Springs REALTOR, when you are looking for some great Colorado Springs real estate properties, who will show you ifferent options that will suit your style and budget. And if you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.