Recovery Of Florida Real Estate From Past Decline

Florida is currently on the road to recovery from a major decline in real estate ventures. Many studies conducted by real estate and market experts reports that this year may result in a positive response from the real estate market here in the region.

Steady Downfall of Florida Real Estate

The years before 2005 marked a prosperous real estate venture in Florida. Many foreign and local investors are flocking into the area to buy any "for sale" lots they can find. Investors are even taking advantage of half-finished construction projects in assorted real estate properties, like apartments, for bigger profit.

The years 2005 and 2006, however, gave evidence to the major decline in the economy of Florida real estates. Residential property acquisitions were in steady decline as many individuals defaulted on their loan payments.

Foreclosures of many residential properties were commonly seen during the late months of 2005 and early 2006. Financial lenders were implementing strict procedures and guidelines on residential acquisition loans, which made it harder for people to get one.

June 2006 resulted in a total of 30% decline in home sales and 35% on condo units. Certain areas of Florida experienced a 48% reduction on home sales - which was considered as an all-time low in the region.

The Road To Recovery

The pendulum that represents the real estate market in Florida swung to the opposite direction in 2007 and 2008. Home sale prices are now going down, which is more affordable for local residents and foreign investors.

The interest rates of financial loans are also going down, as well as the strict measures implemented during 2005 and 2006, are slowly being loosened. The interest rates of these residential areas are also on a steady decrease, which is evidenced by the slow increase of home sales and real estate acquisitions.

Early this 2008, there has been a major influx of new residents, as well as new job opportunities. Both clear indicators that Florida is slowly recovering from its major decline.

Market experts and economists believed that when the high property taxes and home insurance premiums are being regulated to accommodate the demands of both local and international buyers, Florida may be able to profit greatly from the sudden turn of events in real estate.

New opportunities

There has been a major increase in real estate acquisition in commercial and industrial areas in Florida, especially for the opportunities of such. This includes executive office space, office buildings, corporate headquarters, suites, and bank branches.

Other commercial properties are also in a steady rise as many areas are developed into shopping centers and malls, chain stores, showrooms, retail sites, and more.

But despite the availability of these real estate properties that will give Florida the leverage to tip the balance in their favor, everything will all depend if the buyers will be interested enough to invest in the venture.

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Real Estate Agent - How Your Real Estate Agent Gets Your Home Ready For Listing

You are off to a good start if you plan to hire a professional to sell your home. Yes, many people do "For Sale by Owner," but they are missing out on the expertise and knowledge that a professional brings to the table. When you hire one, don't expect to get the house on the market right away. Here are some steps your real estate agent will take before he sets up the listing:

1. The initial visit involves a preliminary walk-through of the house. He will make notes of the condition of the house as well as the flow of the floor plan. A real estate agent is an expert at what can close or break a sale when it comes to location and floor plan.

Some things you can't do anything about, like living next to a freeway, but you can diminish the affects of some negative aspects. For example, if you have a very small guestroom, he will suggest to ways to make it look bigger like leaving only essential furniture in the room, adding mirrors and making sure it is well lit.

The first thing he is going to tell you is to de-clutter. This means packing up all of your personal effects like pictures, knick knacks and excess furniture. If your floor plan doesn't make sense, he will suggest ways to arrange furniture to make it look more sensible. Be prepared for him to suggest some bigger changes as well. For example, replacing and updating worn carpeting cane make a significant difference in the look of the interior.

2. With the next visit, your real estate agent should bring a market analysis for you to look at and see how houses similar to yours are doing on the market. This is one of the main tools for arriving at an asking price which you will also decide on at this meeting. He will make his recommendations based on the market analysis and the pros and cons of your home.

3. When the house goes on the market, he should come by again to make sure that his recommendations and any changes you have made work. He will also offer last minute staging tips to help sway a buyer in your favor. There are little tricks of the trade that can help entice buyers. After it is listed, don't expect to hear from him every day. Likely, he will call when there is a prospective buyer or simply to do a weekly check in with you.

If at the first visit, he does not make a good impression, you should continue your search. You are not obligated to list with that person. Once you have found the right real estate agent, you are on your way to your first showing and he can wait for the offers to come rolling in.

A good real estate agent in Baton Rouge will help you to get your property for sale by following certain steps before listing it for sale. Hire a good real estate agent who can get you good offers. Visit us online at http://www.realestatelouisiana.com

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Real Estate Cycles - Learning How To Handle Clients Who Want To Buy Or Sell In A Steep Market

Real estate always goes in cycles. If you ask anyone who has been involved in buying, selling, investing or any other aspect of real estate for ten years or more, they will tell you that it is all related to cycles. There is a scientific way to look at these cycles, but they are sometimes affected by politics, the economy, or natural disasters.

If you are a realtor or real estate agent, you can use these cycles to predict what the market will do next. For example, when prices go down and the number of transactions that close declines, watch and see what happens next. Inventory will begin to rise dramatically as people rush to sell homes that are no longer valued at what they paid for them ever six months earlier. These people are in panic mode and usually cannot be dealt with in a rational manner. They need time to figure out how they are going to deal with their own situation.

Other people are more calm and level-headed. They know that the real estate values will go again within a few years and are happy to just wait it out. If they do not need to sell their home they are content to stay put and observe what is going on around them.

The people you want to reach out to are those who are stuck somewhere in the middle. These people must sell their home due to illness, job transfer, or other circumstance, and will know that they must offer their property at a reasonable price. Buyers during this time need to be ready to make a good faith offer and not negotiate too much. If they can accept the fact that the property they buy will probably go down in value before it goes back up again, they will be satisfied to complete the transaction.

Marketing to these people can be difficult, but when you learn how to do it correctly you will have more listings and sales than you can handle. Find out more about getting new prospects and clients for your real estate business at http://www.NewMilenniumMarketingforRealEstateProfessionals.com

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Real Estate Closing 101 - Tax Adjustments

Tax adjustments at a real estate closing can mystify some home buyers, even though they are fairly straightforward. The part that is often confusing is the terminology used and the way it is explained. So let's clear these things up a bit.

Actually, there are several adjustments that take place during the real estate closing, but in this article we will focus on the ones that affect the home buyer.

Property taxes in virtually every county in the United States are paid at specific intervals. In many counties, you will pay them twice per year, or every six months. They are paid in advance, meaning that you are paying for the next six months, rather than the six months that just past.

Because property taxes are paid in advance, the existing owner of a home will have paid a certain portion of them when you agree to buy the home. Because of this, a tax adjustment is usually made. Basically, you are paying the seller back for the payments they have made on (what will be) your behalf after the closing.

To keep it simple, let's assume that property taxes are paid in January of every year in the sum of $2,400. That bill of $2,400 covers the six-month period of January to June. On July 1 every year, a tax bill of $2,400 is owed, which covers the six-month period of July to December each year. The annual taxes therefore are $4,800.

The 6-month payment of $2,400.00 means that the monthly tax bill on the property is $400.00 per month, which is generally prorated to a daily fee based on 30 days per month (even though every month does not have 30 days, most real estate professionals use that as the basis for determining a per diem rate). In this scenario, the $400 per month bill is equivalent to a per diem rate of $13.33.

At the real estate closing, the adjustment will be based on how many months and days of taxes have been prepaid. For every month prepaid you will owe the seller $400. So for every day over the whole months you will owe $13.33 per day.

In addition to these taxes that you are paying the seller, the lender will likely be requiring you to put some money in escrow towards your next tax bill. Most lenders pay the property taxes on the owners' behalf in order to protect their interests in a home. Because of this they require money to be placed in escrow (generally a portion of your monthly mortgage payment) towards your bill, with a 2 - 3 month cushion in case you fall behind in your mortgage payments.

During the closing, you will pay a sum of money into escrow equivalent to what should be in your escrow account at that time of the year. It is important to ask the lender in advance how much they will require being placed in escrow at the closing.

Tax adjustments are simple math but can be somewhat confusing, so ask questions before the closing and get a good understanding of what adjustments will be made and what your financial obligations are.

Brandon Cornett covers real estate trends and writes about them on various consumer-oriented websites. For information on the downtown Austin real estate scene, visit http://www.myagentsam.com

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Real Estate Wholesaling - Building Your Buyers List With Direct Mail Postcards

I am a huge fan of using poor methods (where you have more time than money) to build your buyers list at first, but at some point you will realize that spending a little money on marketing to build a list of serious buyers is well worth the expense. That's when you should seriously consider using direct mail postcards to quickly and cost effectively build your buyers list.

First, I want to tell you that I and many other marketing savvy investors have built huge buyers lists with this method. It is not theory. It is a proven method to generate a list of buyers. Here's how to do it.

You need to get a mailing list of investors. The list you want is the Absentee Owner list, which is comprised of owners that have their tax bill sent to an address other than the address of the property that they own. This usually means that they are not living in the property and are probably investors.

So, where do you get this list? Right now, I get mine from public record data via my Multiple Listing Service (MLS) subscription, since I am a licensed real estate broker associate here in Colorado. However, before I had my license, I did not have access to the MLS and I got it from alternative sources. I have also used a subscription service like RealQuest. If you don't want to commit to paying the monthly fee for RealQuest you can also use a mailing list broker. Contact me for a current recommendation on what list broker I recommend when you are ready to purchase the list.

Once you have your list, you need a service that will allow you to upload your list and the message that you want printed on your postcard. This service should then print, address, and mail your postcards for you. Trust me when I say that you DO NOT want to do this yourself. It is cheap to have companies do this for you - but very time and labor intensive to do it manually. I have personally used the US Postal Service Click 2 Mail service and have been extremely happy with them. You should strongly consider using them.

I recommend you use a small 4 by 6 post card. You might see a bump in response from using a yellow card stock, which tends to cost a little more, but you will still get a good response from just using white with black text. You don't need to use fancy colors, photos, glossy paper or image advertising. I use a "typewriter" font message to my list of investors.

What does my message say? I've tried various messages over the years and many different mailings. If you have a particularly great deal (or have one you can borrow with permission), you can send out a message telling your list some very basic info about the deal and ask them to call you.

On the call, you can tell them about the deal, but be sure to tell them that you come across great deals for investors all the time, and ask them what they are looking for. Listen very, very carefully as they tell you what they want in a deal. These are the types of deals you must find to become a successful wholesaler. Once they tell you what they are looking for in a deal, then ask them if you can notify them of great deals as you, and other investors you work with, find them. With their permission, you can then add them to your buyers list.

Of course, if you are part of our wholesaler training program, you can add them, using your special referral link, to join our list. You can track this from inside your Wholesaler Control Panel and earn points that unlock special training materials, course downloads and more.

James Orr is a professional real estate investor, marketing expert and founder of the LearnToBeRich.com on-line investment game.

He works with a network of real estate agents, brokers and real estate investors across the United States through the AnalyzedDeals.com website.

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