Using Craigslist to Sell your Home

craigslist

You can sell real estate on Craigslist.org. It is completely legal and it can be a better way of selling a property than using a real estate agent. Even if you have an agent, you can still use the power of Craigslist to promote the sale, just be sure to list your agents contact information in the ad instead of your own.  This way your agent will get all of the inquiries and be able to screen out the ones with the least potential for buying.

What follows are a few simple ideas to help you sell your home on Craigslist more effectively:

Make the house look great to get that curb appeal feeling buyers love.  Take really great pictures of the inside and outside of your home or property. Lighting and picture quality are everything. You are trying to attract a buyer.

Write a spectacular ad. Get help if you need to and be sure that the ad is spell checked. Also if you can do a video and post it on Youtube you will get a much better response rate to your add.  Talk about the property in your ad and point out things that may not seem obvious like brand new flooring, a new roof, etc.

Discuss your options. Describe what types of deals you are willing to make on the property such as a lease-option, property swap or other concessions like paying the buyer's closing costs as well as any special financing that might be offered such as owner financing. Owner financing, if you are in a position to do it always attracts a lot of buyers. .

You should start to get responses from the ad very quickly if it is done right. If your realtor's contact information is in the ad, call them daily and ask if anyone has contacted them and mentioned Craigslist. After 3 days, you may want to cancel your ad and re-list it. This will keep your ad towards the top of the first page. Although any ad you place is good for 45 days, as the ad ages it drops to the bottom of the list. You want everyone to see your ad first.

With the real estate market being what it is these days, you can expect to wait 3 months or more for a buyer. This is where Craigslist can add features to your sales pitch that your real estate agent cannot offer you.

Swapping real estate is becoming popular. This is where you need to move to another location and you are having a difficult time selling your home. You can post an ad in the city that you are looking to move to. Place the ad in the real estate section and have the headline read 'Looking to swap home in  Anytown, North State, USA for a like value home in Someplace, East State, USA' Be sure that your ad has a all of the things in it described above to help it sell. Then wait. This is a great way to unload properties in markets that you purchased to flip before the market turned. It might be easier for you to sell in a different market.

Overall even though there is a slump in the real estate market in many regions of the US, there are still areas where property values are holding or starting to increase. It might be possible for you to swap out a difficult to sell property for one in another location that is easier to sell.

Use Craigslist to help your real estate agent sell your home quickly. It is another place to put free ads. If your real estate agent will not do it for you, then do it yourself. And finally, if you are selling your home as for sale by owner, listing on Craigslist is a must. There are very few places to list your real estate for sale that is free. On craigslist your ad will be seen by millions. Why not take a chance and use these ideas for selling real estate on craigslist. It may be just the thing to get your property sold.

Independent Foreclosure Review Extended To September 30, 2012

If you are or were a homeowner who had a foreclosure initiated, pending or completed between January 1, 2009 and December 31, 2010, you may be eligible for compensation or damages related to your foreclosure case IF you act to file a request for review before the September 30th 2012 deadline.

Been foreclosed on? You might just be entitled to some compo © HitToon.com ' Fotolia.com

There are 3 primary qualifying criteria to obtain a free review of your case by the Federal Reserve:

1. The property must have been your primary residence.

2. The foreclosure action took place between January 1 2009 and December 31, 2010.

3. Your mortgage servicer appears on the list of servicers whose activities have been targeted by the Federal Reserve for review. For the complete list click here.

The list is too lengthy to show them all here, but it includes a number of major mortgage players. Among those targeted for review are Countrywide, Bank of America, Wells Fargo Bank NA, Suntrust Mortgage, GMAC Mortgage, CitiFinancial, and many more.

If you meet the three primary criteria, and you would like to file a request for review of your case, you can go to IndependentForeclosureReview.com to request the review forms and get more information on how the process will work. Even if your foreclosure was not completed you may be eligible for financial compensation if your case shows that you were financially harmed by the foreclosure filed against you.

If it is found that your foreclosure was initiated through the use of 'robo-signing' tactics, the documents do not indicate that your mortgage servicer had the legal right to initiate a foreclosure action against you, or you believe that the foreclosure action was wrongly filed, and the documents indicate this, you may be eligible for financial compensation. There is a framework for determining what the general compensation might be, though no specific dollar amounts are listed on the website. Still, foreclosure is a traumatic experience, especially when it was not warranted, so at least you've got a chance to prove your case if you went through a foreclosure filing during the specified time frame.

One handy tip: The online filing process is quick and easy. But if possible, scan any related loan or modification documents ahead of time, and have them ready to upload before you begin filling out your application. There will be a place to upload any documents before you complete your application. The documents need to be ready to upload or you will have to do this step and start the application again. The application is short, but has to be completed in one sitting, as there is no way to save what you've done while you search for your paper documents.

Before you begin your application, I recommend scanning all needed foreclosure and/or loan modification documents into a pdf file, and saving them to your computer. Then you can simply upload them with the application. The entire application can then be completed online in less than 10 minutes.

Anyone who experienced a foreclosure filing or a related loan modification during this period is encouraged to file for a review. The review process is detailed and may take several months, but this is a rare opportunity to have the financial authorities take a second look at your case. Uploading any needed loan documents to help support your case may help shorten the wait time.

If you were not affected, but you know someone who was, please share this information with them. The original deadline was July 31. It has been extended to allow extra time for those who may not have been aware that they were eligible to file.

Getting the Most Out of Website Content

Now that we've established that content is king in terms of good search engine optimization for your website, it's important to know how to use content to your advantage. Anyone can write a few paragraphs on your local real estate market or about a particular condo building in your neighborhood, but to do so in a way that will benefit your page and website ranking is another story altogether.

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Each blog post or web page you write should follow some very basic guidelines; and in following these guidelines, you can dramatically increase the chance of more page views and a higher ranking among Google, Yahoo!, and various other search engines available internet users.

1)      Choose a keyword or phrase in which you're trying to achieve a high ranking. For example, if you're writing content for a web page detailing the John Hancock building, your keyword phrase may be 'the John Hancock condos in Chicago or '175 East Delaware Place condos for sale.'

2)      If possible, include your keyword or keyword phrase in the URL, Page Title, Heading 1, Page Description, and Image Alt Attribute.

3)      Incorporate broad keyword usage throughout the body of your content. Going back to #1, if my keyword phrase is 'John Hancock Condos in Chicago,' a good rule of thumb is to try and incorporate this phrase 2-4 times throughout the page.

4)      Follow appropriate keyword density. Although certain S.E.O. experts vary in opinion, you should generally strive for a keyword density of between 3 and 5 percent. And in case you aren't sure, keyword density refers to the percentage of times a keyword or keyword phrase is used among your page content. So, if you have a total of 100 words and you used your main keyword 4 times, you would have a keyword density of 4 percent.

5)      Write the preferred minimum amount of content. Search engines want to see machine-readable pages that give visitors adequate information on what they're searching. In general, a sufficient quantity of content for a web page or blog post is 300 characters, or around 50 words in most cases.

So the next time you're writing content for your website, take the extra time to do it right. While you may not achieve the best ranking right away, using the proper methods while writing quality content will most definitely benefit your real estate website long-term.

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working in the market research sector and authoring published Market Snapshots for Hanley Wood Market Intelligence, Joe now works as a Web Marketing Specialist and is a managing partner at  Real Estate Web Creation, LLC.

Is 'Now' Really a Great Time to Buy Real Estate?

Make no bones about it, the world economy right now has been beaten and battered. All you have to do is turn on the news for 2-3 minutes and you'll almost certainly hear a story about a country defaulting, banks going out of business, bailouts being handed out, and the real estate market being the ugliest it's been in many, many years (some experts are even saying this is the worst its EVER been!).

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But underneath all of the doom and gloom is something that may very well shock you, something that runs a little counter intuitive to what you may have been thinking all along.

Wouldn't it shock you to know that there are certain people all over the country grabbing up as many properties as they possibly can, like some larger than life game of monopoly being played with real money?

Wouldn't you be surprised to hear that some of the world's greatest fortunes were built when the economy was in the toilet? That business giants like the Rockefellers, Vanderbilts, and Kennedys all built their empires in the midst of terrible economic conditions?

And wouldn't you be just blown away to learn that you ' yes YOU ' could be letting an opportunity to make untold amounts of money just pass you by ' an opportunity that will most likely never happen again in your lifetime?

The Hidden Opportunity

The hidden opportunity that I'm talking about is to take advantage of the currently crippled housing market to make you and your family financially set for the rest of your days.

You see, while it's true that the housing market has taken a beating, and prices have dropped like a stone across the board, that's horrible news for one group of people (those that are trying to sell their homes or properties) and fantastic news for others (those that are buying). If history has taught us anything, it's that life is cyclical, and while we're looking down and out right now, we won't be forever. If you're looking for the opportunity to snap up incredible deals on property, now is your time to do it.

Here are a couple of guidelines though:

Check its historic high price against its current value - Check out how much your prospective property was worth at its highest point, or see how much it sold for last. This is a tremendous way to know if you're getting a deal, or buying a cheapo house that may not be worth anything anyway.

Get your finances in order first - While these kinds of deals are tempting, we don't know when the market is going to bounce back. Don't get into short time financial trouble waiting for the long term payout. Make sure you can be comfortable living with these kinds of investments.

Do your due diligence - Do as much research on the property as you can. Don't just live by the old adage location, location, location ' though that is helpful. See if you can spot a future property hot spot, and see if your property has invested in future techs like a green initiative. These houses will almost always be worth more in the future.

Sharon Freeman is a freelance author who writes about Real Estate and Property tips for her local Sydney market.

Harness The Power of The Visual ' Using Your iPad To Showcase Your Business

Now available ' yet another cool app for realtors ' if they use an iPad. The Portfolio App, created by KnowledgeView, offers real estate brokers an opportunity to harness the power that visuals give to their business.

Designed with architects, interior designers and other visually driven professionals in mind, the Portfolio App allows a user to publish their entire portfolio, including photos and videos, assign geo-information and related 'web-mobile views.'

The developer will customize the app for your business as well as host it. Included with the app is a 'EasyPublish' tool which lets users communicate directly with their target audience though one-click publishing on the iPad, Twitter and Facebook.

It's possible to browse projects offline, and the geo-information linked with Google map provides all of the information your clients are searching for ' boosting your company's image and garnering trust from your customers.

Mohamemd Al Assam, Chairman and Managing Director, Dewan Architects and Engineers, noted:

'The 'Dewan Architects and Engineers' iPad App is the newest platform launched by Dewan to help us communicate with our clients and partners globally by using the latest platforms linked to social media. The App is intuitive, aesthetically attractive and allows our visitors to store information about our projects onto their devices, locate our projects on Google map, and learn more about our corporate news as they occur. The great work done by the KnowledgeView team who developed the app has made the presentation of our architectural work appealing and helps us to further broaden our market reach'.

What better way to showcase your homes ' both those you've sold (together with testimonials from happy home-owners) and those you are currently listing. If you're among the millions of iPad users, this new app is something you don't want to miss. Prefer to use an iPhone? No worries, this app has been designed for mobile portability as well.

Chicago.com, Inc. Offers Simplistic E-Mail Solution at a Price

I came across an interesting concept today and thought it was worth sharing. Many real estate agents today have their own website and are highly involved with web- and search-engine marketing. In fact, it isn't uncommon anymore for some real estate professionals to even have several real estate websites in today's tech-savvy marketplace, so of course having your own personalized e-mail address isn't an issue for such web-based agents.

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So what about the agents who don't have a website'what are they using for an e-mail address? Obviously, whenever a brokerage hires new agents, a new e-mail address is provided to them. The problem, however, is that should agents decide to leave a brokerage, your e-mail address is also now gone and there's always a chance former clients may lose touch.

To counter such issues, Chicago.com, Inc. has launched a new product that now allows agents and professionals in various other industries to invest in a new e-mail address that is easily remembered by customers and helps promote the city in which you currently do business. All you have to do is log onto Chicago.com, pick-out an available e-mail address such as joe@chicago.com, and create an account. And although it really is that simple, is it actually worth your time and money? Let's take a closer look:

Pros to having a Chicago.com e-mail address

1)      Easy to remember.  As long as you're able to secure an e-mail address that's simple and easy to remember, this is definitely a positive aspect.

2)      It's permanent. When I say permanent, I of course only mean it as long as you keep paying your monthly, quarterly, or yearly dues. But as mentioned, should you change companies at any point during your career, this e-mail address stays the same.

Cons to having a Chicago.com e-mail address

1)      Bad Branding. While Chicago.com, Inc may argue this is a great way to brand your real estate business, I would disagree. A marketing e-mail I received from Chicago.com, Inc read:

'Chaz Walters, Coldwell Banker, recently purchased chaz@chicago.com as well as the domain hotproperties.chicago.com.  Thad Wong, CEO of @properties, and his wife Emily Sachs-Wong recently acquired thad@chicago.com and emily@chicago.com respectively.  Six of the ten largest real estate companies in Chicago are customers of our product, including @Properties, Habitat Corporation, ESW Properties, The Pritzker Group, and many more.'

If I'm Chaz at Coldwell Banker and I just bought a new domain name, the obvious goal is to generate as much traffic to my site as possible, right? So why wouldn't I want my e-mail address to include @hotproperties.chicago.com? Sure, it's a bit longer, but I still want my web address to be included in anything and everything I do, which involves the dozens of e-mails I likely send out a week if I'm a real estate agent.

2)      Creates Confusion. Aside from being a great communication tool, an e-mail address also defines who you are professionally. If I send a message to someone from my e-mail address, joe@realestatewebcreation.com, it shows that I either work for Real Estate Web Creation or am affiliated with that company in some way. If I'm not totally familiar with Chaz Walters' business and I receive an e-mail or drip letter from him, there's a good chance I might automatically think he's with Chicago.com. If I'm a home buyer, I then might log on to Chicago.com to learn more about what Chaz can do for me or even search the Chicago real estate market. There's only one problem: Chicago.com isn't Chaz's website and Chicago.com has nothing to do with helping find a new condo or rental around the Chicago area. There goes a potential lead.

3)      Expensive. Chicago.com offers three separate e-mail plans: a monthly rate at $79, a quarterly rate at $199, and a yearly rate at $749. A 79 dollar per month cost for an e-mail address? Really? The average cost to host a website with an IDX is around $50 per month, so why not just start your own website and start branding yourself through your own domain name? Not only is this better branding, but as you continue to build your website over time, it will hopefully be generating some quality leads for you as well.

From a business perspective, I think this is a great concept from Chicago.com, Inc and will probably work for plenty of real estate professionals. Some real estate agents have such a broad client base that a lead-generating website with an e-mail address isn't necessary. But is a Chicago.com e-mail address something I would have? In a word: No.

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working in the market research sector and authoring published Market Snapshots for Hanley Wood Market Intelligence, Joe now works as a Web Marketing Specialist and co-owns Real Estate Web Creation with his partner, Ted Guarnero, a 25+ year real estate veteran.

Finding The Optimal Rental Property: Scaling the Market

When the housing bubble burst a couple of years ago there was a huge shift to rental properties. Some would-be buyers began renting instead of buying property due to fear of the turbulent market, while many homeowners who lost their homes were also forced to rent.

As a result, rental prices in many markets increased with the new demand and rental properties have become increasingly more difficult to find. Today's prospective tenant needs to be ready to peruse the inventory, maybe make some compromises and jump on a desirable property quickly, as the following infographic demonstrates (click to zoom):

 

Know What You Need and Where to Look

Much the same way buyers have to make certain compromises when purchasing a home renters often have the same scenario to look forward to and perhaps end up compromising more frequently than buyers. As a renter you're often working with a much smaller inventory than those looking to purchase, and in many areas rental properties are much more quickly snatched up. So before looking you should make a list of your needs vs. your wants.

For instance, you might love a certain building but need a laundry facility which it does not offer. Or you might need for appliances to be provided. Knowing these things before you get started can help you to narrow down your choices to just those properties that most closely fit your needs for viewing, which will not only save you time but also eliminate wasted looking when you could be putting in an application on a property that better suites your needs. It's also important to know where to look for rental property.

A property management company usually has a list of available properties either posted online or in their office: this approach usually gives you a few options in one shot. You might also looking at online resources for lists of prospective rentals.

Don't Be Afraid to Negotiate

So you've found this great place that has everything you're looking for in a home, but the rent is just slightly out of your budget. Or maybe you'd prefer to do a six-month lease as opposed to a one year. Renters often don't realize that there may be some negotiation room in the terms of a rental agreement, particularly if the property needs some work or has been vacant for quite a while. Sometimes, it might be fairly easy to alter the terms of the lease when the owner is anxious for income.

Perhaps you can offer a slightly higher deposit in return for being allowed to have pets, or take on some of the repairs in exchange for a lower monthly rent. Be careful, however, not to ask for more than you need or make ridiculous demands on a property that you really want. For some landlords putting an extremely difficult tenant in place for a long lease is not ideal and they may skip over you for a more amiable suitor.

Unless you have an unlimited budget you probably won't find your dream home complete with everything on your wish list. However if you know what items you can't live without and are ready to negotiate where needed chances are that you'll find a great property that will fit your needs if only in the short term. 

Content is King in Terms of SEO

Today I'd like to talk about content for your real estate website. Quality content on your web site will never hurt you, and since the release of Google's Penguin algorithm, it's probably even more important now more than ever.

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I know what you're thinking. Writing content is time consuming and may not give you the results you're looking for immediately in terms of traffic and incoming leads. This may be true, but retooling your content now will only set you up for long-term, sustainable success with your real estate website. The idea behind Penguin is to reduce spam and reward web sites that do all the right things and writing quality content with relevant keywords is arguably the most important aspect to a great website.

However, before you start cranking out fresh content, understand that quality content doesn't mean spinning old content in a new way. What I'm talking about is totally new, re-written copy that is interesting, creative, and properly uses the keywords you're using to hopefully get a good ranking among various search engines.

If you have a blog or a ton of web pages with already existing content, slightly changing up the words or the feel of the article isn't going to accomplish much in terms of search engine optimization. Instead, I challenge you to get involved with each article and produce something that you can be proud of and share with all your friends, clients, and colleges. Because once you've published your new and improved content, sharing it via Facebook, Twitter, Digg, and Linkedin is the very next step.

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working in the market research sector and authoring published Market Snapshots for Hanley Wood Market Intelligence, Joe now works as a Web Marketing Specialist and co-owns Real Estate Web Creation with his partner, Ted Guarnero, a 25+ year real estate veteran.

Commercial Real Estate Investing Basics

With great risks comes great rewards.  While an investor can get rich buying and selling residential properties, true wealth comes from owning commercial real estate.  Commercial real estate is somewhat unique among real estate investment types, as this kind of real estate requires a high investment to get into the game, much higher than most residential properties and poses equally great risks depending on what you plan to do with your property once you own it. Of course there are also many options for your commercial real estate investment that investors find appealing.

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Most investors find leasing office building or warehouse space to be the safest route to take when it comes to starting out as a commercial real estate investor. They feel that this is a relatively steady source of income because most businesses prefer to keep their locations as long as possible. Smart business owners are well aware that customers, clients, and vendors need to be able to find them in order to do business with them and for this reason, prefer to keep their business in the same location whenever possible rather than reestablishing themselves in different locations year after year.  While a residential real estate investor might have to search for a new tenant every two years, a commercial property sometimes has the same tenant occupying it for decades.

Commercial real estate investing is a different animal than buying traditional residential real estate that many of us might be more familiar or comfortable with. You will need to do a lot of research before jumping in with this particular sort of investment. Commercial real estate investments can take on many forms. From strip malls and outright shopping malls to business and industrial complexes to sky scrapers and high rise condos you will find all manner of commercial properties. Whether your interests lie in business or personal types of commercial real estate there are significant profits that can be made.

Unfortunately, beginners often find the path to commercial real estate investing difficult to comprehend.  There is a much larger learning curve then investing in residential properties. You need to understand the terms used like NOI (net operating income), NPV (net present value) and NNN (triple net lease. A lease requiring the tenant to pay in addition to a fixed rental, the expenses of the property leases, such as taxes, insurance, maintenance, utilities, cleaning etc.)

To create even bigger profits it is often best to work as part of a team of investors. Not only does this approach spread out the risks to some degree but also helps find the good buys, spreads the labor pool, creates an environment of ideas, and allows you to bounce those ideas off one another. It is a great idea for those who are looking to build a prosperous future in the field of commercial real estate investing and can be extremely profitable for all involved.

Real estate, in and of itself, is a high-risk venture. Commercial real estate bears a little more of the risks in the beginning.  However once you're established and people, particularly investors, know your name you will find the path to real estate wealth is much easier obtained through commercial real estate than almost any other types of real estate investing.

Commercial real estate investing can be extremely intimidating if you allow it to be. Avoid putting yourself in a situation where you feel out of control or completely uncomfortable for your first investment.  But if you have the means, the price is right, the deal appears to be solid, and you feel you are ready for the challenge, commercial real estate profits can be a serious motivation to learn the ropes.

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Daniel Doran is a 20+ year veteran in the real estate industry. He is a previous owner of a law firm, mortgage and title company. Daniel has also written several books on mortgage modification, short sales and real estate investing. He currently specializes in Commercial Finance and Real Estate Development and is a graduate of Manhattanville College and Brooklyn Law School. You can contact Dan at www.buildingsbyowner.com .

Is Greener Necessarily Cheaper?

Over the past few years there has been a global push toward green improvements. This has taken place at all levels of homeownership from construction to remodeling. While some homeowners go green for the environmental advantages many are looking for greater energy efficiency and therefore greater utility savings. But do all green improvements mean savings?

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Tankless Water Heaters

A trend making its way around the housing circles is the installation of tankless water heaters. These systems are thought to provide an instant and constant supply of hot water as well as lowered utility costs. According to an article by Consumer Reports, however, these claims simply don't seem to hold water.

While tankless systems have been proven to offer enhanced efficiency over their traditional counterparts their cost and installation expense is what puts them just out of the boundary of being a reasonable investment. Check out this article for more information.

Solar Panels

There has been a lot of talk recently about solar energy, especially in the wake of the Solyndra bankruptcy. Still homeowners remain intrigued by the idea of decreasing or eliminating their dependency on traditional utility sources, and for good reason: over the past few years the amount of after-tax income that families spend on utilities has continued to increase.

While you might find yourself all ready to jump on your roof and strap down some solar panels when you open your monthly utility bill the cost of the panels and installation could give you pause. According to an article on Discovery.com the starting price for installation of a solar panel system is $5000.00, no small amount of money for the average homeowner.

The article does go on to mention that the investment should pay off with adequate conditions (proper sun exposure, system function, etc.) over a 5-10 year period. It's also possible to recoup some of the start-up cost through federal and state rebates for this type of improvement. Click here for more information on investing in solar energy.

An important thing to remember about making green improvements with financial return in mind is how long you intend to inhabit the property. With most green updates you're not likely to see return in utility savings over initial investment for a matter of years, so if you plan on selling soon you might get only a portion of your investment back in the form of property value depending on the particular improvement and your market. While some of these investments might not prove fully financially worthwhile they do decrease your carbon footprint which carries a benefit all its own.

How to Pay For Your Home Improvement Project?

Home improvement projects are always fun and refreshing for everyone but your pocket. Many people undertake a home improvement project and then give up on it midway because they don't find good financing alternatives. Some don't even think about it because of the same reason. Worry not, because in the following points, you will come to know about the ways and means in which you can easily finance your home improvement project:

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Credit Cards ' This option is viable if the supposed cost is not a lot, a few thousand dollars at the most. Also, because the interest rates for credit cards are very high, you must make sure that you pay off your dues immediately.

Unsecured Personal Loans ' The best thing about an unsecured loan is that your house isn't tied to it, meaning that if somehow the payback is delayed, your house wouldn't be at any risk. If you can manage to get an unsecured loan from a family member, that would be the best option. However, many banks offer these loans too but the sum is limited to about $10,000. Beware of non-bank options that charge unreasonable interest rates.

Home Equity ' The best part about this option is the tax deductible interest that is fixed, thereby protecting you from the interest rates fluctuating against you. The bad part is that your house becomes the primary mortgage. Therefore, it entails a huge risk of foreclosure if you fail to make the payments. However, if you are planning on a big expenditure in home improvement, this is the way to go.

HELOC or Home Equity Line Of Credit is similar to Home Equity Loan explained above except for one thing. Unlike Home Equity Loan where there is one shot payment system, HELOC allows you to withdraw amount multiple times with certain restrictions on the maximum amount that can be withdrawn. The interest rate is variable but it is still tax deductible.

401 (k) ' This is a risky alternative because of the large amounts of penalties that the non-payment entails. Although the interest rates are fairly low and there are no qualifying fees, your retirement account could take a hit. This is because even though you pay back the amount, experts believe that your retirement savings would fall.

Title 1 Loans ' These are similar to Home Equity Loans and HELOC in the sense that your house gets tied up in the form of mortgage but it doesn't require you to have an equity interest in your house, unlike the other two. These loans are insured by the federal government and have many restrictions. The maximum amount is $25,000 but it isn't available for luxury home improvement projects like building a swimming pool.

The best option would always be to use your own cash and get saved from all the problems of interest fluctuations, tax deductibility, mortgage, closing costs, penalties, et al. Never turn towards your contractor for financing because such loans are full of hidden terms and costs and are best avoided. For any more information on financing your home improvement project, you can click here.

Best Improvements for Re-Sale

Navigating the murky waters of today's real estate market is often a challenging endeavor for sellers. In such a buyer's market it's hard to know where to spend and where to stand your ground. So what improvements should you make now in order to expedite a possible sale and which ones could be saved for the next owner?

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Much of the answer to this question depends on your respective market. Individual markets and neighborhoods often see their own little trends, such as a sudden interest in granite countertops or sprawling decks. By consulting a REALTOR® or visiting open houses in your neighborhood you can get a good feel for what improvements are absolutely necessary in order to compete in your market. To find an agent in your area visit Realtor.com.

Next, you might turn a judgmental eye on your own home. This can be difficult as your property is your castle and we tend to be somewhat emotional about our castles. Do your best in spite of this fact to be objective. Be on the lookout for idiosyncrasies in your home. For instance, you might have updated your home's baths and décor but neglected your kitchen which still sports Formica countertops.

Bringing all of the rooms of your home up to date in the same fashion will help buyers to feel a sense of solidarity about the property, perhaps even a sense of stability in the fact that they won't have to completely re-do any one space before they can begin enjoying the home. At the very least, it will give you a leg up against a competing property with a similar price and features. And by making the right repairs you can expect to see some return on your investment. Click here for more information on kitchen repairs that won't bust your budget.

Preparing your home for re-sale means more than a little cleaning and sticking a sign in your front yard. In order to truly compete with surrounding comparable listings you'll need to be sure that your property is updated and maintained to keep up with the trends of the market and neighborhood.

Sun Valley Estate at Auction August 30th

Concierge Auctions announced last week the live auction of an estate at Sun Valley, one of the world's leading ski destinations. The property, originally offered at $5.995 million, is a 5,900-square-foot tri-level affair, now set to go to the highest bidder with no reserve.  The auction is scheduled for August 30^th and in cooperation with Katherine B. Schroder of Sun Valley Sotheby's International Realty.

Off one of the decks

Laura Brady, Vice President of Marketing for Concierge Auctions, had this statement for the news:

'The seller has decided to purely allow the price to be determined by the bidders on auction day, without any reserves or minimums. This format provides the opportunity to own a ski-lover's paradise in one of the most exclusive mountain destinations in the entire country for what likely will be a great value. We urge anyone interested to visit the daily open houses from 11am to 1pm or by appointment to see first-hand how impressive this property is.'

The living room

A Gary Storey Construction development from 2008, 106 Howard Drive was designed by Point Architects. The nterior furnishings of the house are by  Megan Edwards of Charles Stuhlberg Interiors, and with 5 bedrooms, six and a half baths, a gourmet kitchen, the house is nothing if not stunningly efficient. Floor to ceiling living-room windows and a theater, along with dozens of other custom amenities, add to the appeal of the luxurious estate.

The kitchen

The press release also announces a A 2.5% commission for buyers representing a broker. The property is currently open for viewing from 11am to 1pm and by appointment, for touring. For those interested in more information, please visit SunValleyAuction.com or call 877-762-9436.

Images courtesy Concierge.

Ranch Marketing Offers Y Cross Ranch

Ranch Marketing Associates has announced their first time offering of a famous University of Wyoming Foundation and Colorado State University Research Foundation property, Y Cross Ranch. Available via sealed bid, the 60,000 acres property between Cheyenne and Laramie was once a purebred cattle and agricultural concern.

Today, Y Cross Ranch runs some 850 pairs, and 800 plus yearling cattle. The panorama of Wyoming scenery, along with valley views, further differentiate this one of a kind property too. Y Cross Ranch is a rare opportunity to acquire a bit of western legacy, along with a large production ranch. This says nothing for the exceptional outdoors and living potential. Interested readers can view a wonderful brochure about this property via this PDF.

From irrigated meadows, picturesque creeks, and elevations of from 6,400 to 8,613 feet, this ranch is literally something out of a Hollywood script, not to mention a productive investment potential.  Ranch Marketing Associates' Ron Morris, had this to say about the sale:

'The Y Cross Ranch represents an extremely rare investment opportunity to own a classic western, low-overhead, large production ranch in a prime Wyoming location. The property is offered for sale in its entirety including all real estate, improvements and water rights through a Sealed Bid Process. Bids will be opened on November 13, 2012 at the Little America Hotel in Cheyenne, Wyoming.'

Ranch Marketing Associates, a company with over half a century of experience in high end residential and agricultural properties, has had over $600 million in sales for over 3 million acres. For more information on this property and others, please visit www.RMABrokers.com.

Equity Residential Redeems Series N Preferred Shares

Equity Residential (EQR) announced on Friday a call for redemption on all outstanding Series N Depositary Shares. The Series N Depositary Shares will render a redemption price of $25.00 per share, plus $0.1575 per share accrued and unpaid dividends, according to the announcement.

At the close of business on Thursday, there were 6,000,000 Series N Depositary Shares outstanding. The liquid value of those shares was approximately $150 million, but form the redemption date forward, the shares will no longer accrue dividends. Notice of the redemption and all related info has been mailed to share holders can redeemed in accordance with the applicable procedures.

For any questions related to the notice, direct your attention to Computershare Inc., Equity Residential's transfer agent. The number is:  1-800-546-5141, and their mailing address is: Paying Agent is Computershare, Corporate Actions, P.O. Box 43014, Providence, RI 02940-3014.

For any other information on Equity Residential, please visit their website at www.equityapartments.com.

Three Web Marketing Tips Every Realtor Should Follow

When it comes to web marketing, there are a few common mistakes many real estate agents repeatedly make. More often than not, real estate agents who invest in a professional web site and search engine marketing automatically assume leads will start pouring in the second your site goes live.

© JERMVUT KITCHAICHANK ' Fotolia.com

But just like anything in business, web marketing takes time, a lot of hard work, and even more patience. And along with that, agents who genuinely take web marketing seriously should also take notice of three simple tips:

Focus your web site on buyer needs

Yes, visitors to your real estate web site care about whom you are, your specific expertise in real estate, and your past success with real estate in your market; but not right away. It's fair to say most visitors coming to your real estate web site are searching for a home or condo, right?

So focus your web site on including unique search features, quality content about your area, and great blog posts about the local market, upcoming events, etc. Nine times out of ten, visitors will call you only after they've found what they're looking for'not before. Give prospective home buyers what they want, rather than a biography about who you are.

Remember, it's not all about lead generation

For most agents, a real estate web site is all about one thing: leads, leads, leads. And rightfully so; what's the point to having a web site if you're not using it to generate business? But once you're getting leads, make sure to follow up on each inquiry in a timely fashion.

Lead management is equally as important as lead generation. On one hand, if you're too busy to follow up with every single lead, the upside is that you're likely making money. But failing to follow up with every lead coming into your site can have negative consequences long-term. If a serious buyer inquired about a property they saw on your web site and you never initiate contact, do you really think they'll come back to you for future real estate needs?

Your strategy should be a combination of social media, content, and blogging; not just one or the other

One question we often get from real estate agents is whether to focus more on social media, frequent blog posting, or quality content on their site. And the simple answer is that you should be spending an equal amount of time on each. In actuality, each of these items should be intertwined. Sharing web content and blog posts on your social media accounts should build up your social following, but users are much more likely to follow you if they see your web site has quality content, photos, and has a great user-friendly feel.

Of course this is only the tip of the iceberg when it comes to web marketing, but following these guidelines is certainly a good start. Once you have this down, then it's time to start thinking about more advanced issues such as how to get a better ranking for various search terms with all the major search engines. But that's another topic for another day.

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working in the market research sector and authoring published Market Snapshots for Hanley Wood Market Intelligence, Joe now works as a Web Marketing Specialist and co-owns Real Estate Web Creation with his partner, Ted Guarnero, a 25+ year real estate veteran.

Century 21 Village Welcomes Kathy Knudson to Sierra Madre Office

Kathy Knudsen

Andy Bencosme, managing broker of Century 21 Village in Sierra Madre recently welcomed realtor Kathy Knudson to the office, making the announcement at the weekly marketing and sales meeting.

According to Knudson, she chose the Sierra Madre office for the friendly agents, wonderful atmosphere, and Bencosme's extensive real estate knowledge. She is very excited about and new association with Century 21 Village Realty. Kundson is a long-time member of the Foothills communities having lived in the area for more than 30 years. She is active within the community and is well-known for her strong work ethic, honesty and positive contributions to the local community.

She is dedicated towards helping families realize their dream of home ownership, and many clients have become lifelong friends. Kathy has excellent communication skills and an entrepreneurial background, and is committed and dedicated towards serving her clients in the best way possible. In the past she has served as a teacher and administrator in Monrovia, and was a director in the Mountain View School District in El Monte for 12 years. Whenever she can, Kathy loves to travel, and very much enjoys being a grandmother.

Bencosme stated he was 'excited to have such a strong and professional' agent at his office, saying 'I was always impressed with Kathy's leadership when she served as Monrovia Library Board President and look forward to working with her in real estate.'

If you want to contact Kathy Knudson, or any of the friendly Century 21 Village agents, you can phone them on and 626-355-1451, and their office is at 38 W. Sierra Madre Boulevard in Sierra Madre.

Small Kitchen Improvements that Make a Big Impact

For those who love to cook and entertain a small kitchen can throw a serious wrench in enjoying your home. Whether you suffer from a galley kitchen or just plain poor storage space making room for your craft can be a tough business. Fortunately there are some small improvements that you can make to your kitchen that pack a big punch.

© Matthew Cole ' Fotolia.com

Smart Storage

Anyone who loves to cook knows that it takes more than a blender and some random handheld appliances to really flex your culinary muscles. So fitting all of your various gadgets and doo-dads into a small kitchen isn't just a wish, it's a necessity. When engaged in battle with a souffle one must have everything needed at hand!

For this reason (and because bread makers and soup pots piled on top of the fridge is not this season's prime decorating statement) implementing extra storage space is absolutely essential. Make the most of your cabinet space by adding extra storage to the interior of doors or in the cabinets themselves by using baskets.

You might also rethink using that precious space for items more traditionally kept in cabinets, such as dishes. In particularly if you have a nice set of matching dishes or aesthetically pleasing glassware you might display them on shelving on the walls. This touch looks much nicer than adding shelves full of your pots and pans instead.

Think Up!

A chief mistake made by many homeowners inhabiting a small space is installing storage options that go out instead of up. Imagine all of the space wasted by empty walls! Instead of adding bulky storage units such as book shelves or extra cabinets utilize your wall space with compact units that are tall as opposed to wide or shelving. This will save your floor space while adding a ton of storage without swallowing the room.

There are plenty of blogs online detailing crafty, trendy and space conscious storage solutions that won't break your budget. For instance, check out this blog about making a spice rack from little more than scrap materials.

While we might all dream of a giant gourmet kitchen worthy of Emeril's skills for some homeowners it's simply not in the cards without a major renovation. For those who don't have the money for knocking out walls or adding rooms making due in a small kitchen in just reality. With these and other tips you can make your peace with a small space.

For more tips on making the most of a small kitchen visit BHG.com.

Eureka Commercial Lender Has Loan Program for Best Coastal Properties

ReProp Financial

Reprop Financial launched a program back in May allowing commercial owners to release equity in their coastal properties. 'Our Best for Your Best' is a program designed to give commercial loans up to $1 million at rates of just 5.99% for the first year.

All applicants have to do to qualify for this three-year loan is to offer their best coastal properties. The rate is incredibly low for private money loans, also called hard money. This offer is only available for a limited time, and is open to owners of the best coastal properties in Los Angeles, San Diego, Ventura, South Santa Barbara, South Sonoma County and Marin. It is also available to metro areas of Seattle, and metro areas of Portland. It applies to Class A properties in the commercial and non-owner occupied residential properties as well as retail, office, mixed-use and multifamily properties.

Glenn Goldan, founder and CEO of Reprop Financial has pointed out that quite a few people have recently purchased coastal real estate from banks or as short sales. Property values are beginning to move upwards in these areas, and this program enables owners to unlock up to 50% of their assets value. This would allow them to reinvest that capital into other commercial real estate. Goldan said 'That's a good thing for California and it's a good thing for the economy.'

The interest rates are 5.99% for year one, and 6.9% in years two and three. There is also an optional ability to roll the loan into a 15 year fully amortized loan. The program has been very well received since it was launched in early May and has already benefited owners of smaller commercial properties who were previously unable to find reasonably priced loans.

Reprop Financial is located in Humboldt County and also offers other loan programs in Northern California. These include small business loans in coordination with the Small Business Administration. Local clients such as Goodman Winery and Arcata Theatre Lounge have taken advantage of these loans in order to grow their business.

FHA Net Worth Falls To -$23.23 BILLION As Delinquencies Rise

FHA

The latest analysis by Edward J. Pinto, a Resident Fellow at the American Enterprise Institute, indicates that FHA continues to fall deeper and deeper into the 'red' as a result of an increase in 30 day and 60 day delinquencies.

The total net worth of FHA, when estimated using Standard Accepted Accounting Principles, (GAAP) stands at -$23.23 billion dollars, with a capital shortfall that could go as high as $62 billion dollars. Dollars that would be paid to lenders by taxpayers as insurance on defaulting mortgages.

The total delinquency rate at present is 16.61 percent of all FHA insured loans, with 9.48 percent of loans classified as seriously delinquent. (90 days or more). This is very close to an all time record.

FHA was created during the great depression to help attract private investment to the mortgage market. Today, since the crisis of 2008, FHA has essentially become the primary facilitator of the U.S. mortgage market, insuring some 90% of all new mortgages that are being created in the residential sector.

This means that FHA has levels of risk never before seen, that could result in future losses to U.S. taxpayers in the tens of billions of dollars, if the economy were to continue to lose jobs or go into another recession. Many, like the AEI, who keep tabs on FHA are very concerned that FHA will require a bailout if the housing market continues to languish.

At present, with little private participation in the mortgage market, FHA is the 'only game in town' for many typical first time buyers who do not have funds for a 10% down payment. FHA still only requires 3.5% down payments from the 'most qualified' buyers, and with sufficient proof of income, a buyer could have a relatively low credit score.

A primary risk factor is the employment situation. As long as there is little to no growth in the job market, it is likely that more FHA borrowers could become delinquent on their mortgages. This certainly seems to be happening at present. According to FHA Watch, new delinquencies in the 30 to 60 day range are the primary reason for the increase in total delinquencies in this month's report.

Save Money By Focusing On Three Aspects Of Home Buying

When looking to purchase a home, it is important to make sure that you are doing as much research as possible. By becoming an educated buyer, you are able to make the transaction go as smoothly as possible.

© Monart Design ' Fotolia.com

In Dottie Herman's recent broadcast of 'Eye on Real Estate with Dottie Herman', she goes on to discuss the three most important aspects to purchasing a home. There are three main components that make up the 'worth' of the home, according to Herman.

Herman generally begins her segment by answering listener questions about whether a home is worth its list price. She teaches her listeners how to determine what the correct price to offer is.

One of the pieces of advice that she gives many times over is that it is important to hire a real estate broker. With the real estate broker, all of the guesswork is taken out for you. This is because it is the broker's job to know the market, understand the property you desire and to find them.

When you finally find the best broker for the job, you need to research the attributes you are looking for in a property, then finalize a budget and then begin the search for your new home. While you are out there looking for a home, Herman suggests that you consider the value, the cost and the price. Remember, even though it might seem a little confusing, these are not the same thing.

Value

Herman goes on to explain, 'It's an opinion of what you think the home is worth, based on how you are going to use it.' The value of a home is calculated on a very personal level depending on a person's lifestyle.

Cost

Herman states that many sellers are in a habit of believing that the cost of their house should be what they paid for it plus all of the improvements that they have put into it over the years. However, as Herman explains, 'Cost is [just] a measure of the past.' What is in the past is just that ' in the past.

When you improve your home, such as upgrading the bathroom, you are increasing the potential 'value' of it for someone, but you are not increasing the actual 'cost' of it.

Herman stresses, 'Cost and value are not what the price of the home should be or shouldn't be.'

Price

'Price is what the home should be worth today. But sometimes people don't price it right, so what you really want to look at is fair market value', Herman explains about determining if a home is priced correctly.

Of course, there are other things you might want to consider when looking at potential homes for yourself. Such things include the neighbors, the view, and the overall position of the home on the street. This is your chance to make sure that you are getting the best possible property.

You do have your broker to help you with a lot of this. He or she will be able to help you find out a lot of specifics about the property and neighborhood. Make sure that you are discussing all of this in detail with your broker and that you are visiting the home on your own as well. Remember, as Herman states, 'There is no exact science to pricing.' Therefore, you are going to want to take your time and go with what feels right to you.

 

Article courtesy of Douglas Elliman, brokers for Brooklyn Real Estate

DiamondRock Hospitality Closes on Premium Hotels

DiamondRock Hospitality Company ( DRH) announced yesterday their completed acquisition of four hotels from affiliates of Blackstone Real Estate Partners VI. The reported purchase price was $495 million, which paid for Hilton Boston Downtown, the Westin Washington D.C. City Center, the Hilton Burlington, and the Westin San Diego. According to the news, Goldman, Sachs & Co. and BofA Merrill Lynch advised on the deal.

Mark Brugger, CEO of DiamondRock, commented on the deal:

'This off-market acquisition enhances our portfolio quality and growth prospects while adding to our brand and geographic diversity. In addition to growth from the ongoing recovery in lodging fundamentals within these markets, we believe that there are a number of upside opportunities within the Acquisition Portfolio that can be achieved through smart capital investment and aggressive asset management initiatives. Additionally, we welcome Blackstone as a significant shareholder and look forward to building on that relationship.'

The acquisition, funded in part by various borrowing, and in part by converting IPO funds to pay for the sale, grows DiamondRock's portfolio of luxury hotels. The company already owns 23 premium hotels and resorts with about 10,500 guestrooms.

As for Blackstone, Jonathan D. Gray, Global Head of Real Estate, also added comment:

'We are pleased to close this transaction with DiamondRock, a company with solid assets and a strong management team led by Mark Brugger.  We believe in the continued lodging recovery and are excited about receiving an ownership stake in the company.'

For further information on this sale the reader should consult the original press release with contact points.

Digital Realty & Savvis Acquire Hong Kong Data Center

In news from Singapore, Digital Realty Trust, Inc. (DLR), a global provider of data centre solutions, along with Savvis, a CenturyLink IT and Cloud solution company (CTL) have announced a joint venture, acquiring a 164,000-square-foot (15,236-square-meter) facility in Hong Kong. The deal highlights Digital Realty's entrance to the Hong Kong market, building on Savvis' existing presence.

Michael F. Foust, CEO of Digital Realty, commented on the move; 'We are very pleased to complete the acquisition of our first Hong Kong property with Savvis, our joint venture partner. We look forward to redeveloping the facility to provide enterprise-quality data centre space to this important global market.' The new data center, located at Tseung Kwan O Industrial Estate in New Territories, is about 12 miles outside downtown Hong Kong. According to the news, the facility is capable of handling on the order of  5.76 megawatts of IT load capacity overall. Mark Smith, managing director, Asia, for Savvis, added this:

'The completion of this acquisition with Digital Realty helps us further address demand for managed services, colocation and cloud solutions in the high-growth Hong Kong market. Through this joint venture, Savvis will utilize capacity within the facility to provide our customers with network, managed IT and cloud services.'

Digital Realty's so called Turn-Key Flex data centre, uses a modular approach for solving secure, enterprise quality data space.  Designed for flexibility, reliability and efficiency, the Turn-Key Flex facility has its own dedicated electrical and mechanical infrastructure.

Digital Realty Trust, Inc. is focused on customer driven data centre solutions, while Savvis, a CenturyLink company, is a global leader in cloud infrastructure and hosted IT solutions.

Is Social Media the New Search Engine?

Have you run an internet search using Bing' lately? If so, you've probably noticed that the Microsoft Corporation's search engine now heavily relies on social media to generate a user's search results.

© Mihai Simonia ' Fotolia.com

Once logged into Facebook, go to bing.com and run a simple search on whatever topic you choose. When the search results page appears, you'll also notice a menu also appears in the right hand corner with a list of five of your Facebook friends. Bing' now automatically generates this search-related list based on your friends' 'Likes,' photos, and public profile information as an additional way to help give you the information you need. Once you scroll over each friend's profile, a secondary menu will appear with another list of your friends' 'Likes,' which directly correlates with what you're searching.

In addition to using social media to help generate better search results, Bing' has also added an 'Ask Friends' field, which enables users who have synchronized their Facebook account with Bing' to post a question on Facebook regarding their search. Once the question is posted, all you have to do is sit back and wait for your friends' responses, rather than spend time searching the web yourself.

So what does this mean if you already have a high-ranking real estate website? Although there is no easy answer, it might mean it's time to take a much closer look at how to boost your social media presence. What social sites such as Facebook and Twitter have essentially allowed us to do is control exactly what information we want to obtain over the web. If you follow CNN on Facebook, for example, every news update from CNN is automatically seen by their followers via the Facebook News Feed, so there's very little need to log onto cnn.com. The same can be said for real estate. If you follow all the top agents in your local market, there's a pretty good chance you'll get all the local real estate news you need such as a great new listing, a terrific deal on a home in your area, and perhaps their overall take on the state of the market, given these agents post such updates to their social media accounts, of course.

Search engines such as Google, Yahoo!®, and Bing' certainly aren't going anywhere any time soon. But how each generates search results is always changing, and social media is only the latest method. Posting blogs, sharing these blogs, and getting each to go viral is perhaps the best way to attract social media followers, but frequent posts and interaction with friends, colleagues, and local businesses will help keep your social accounts relevant. Search engine optimization is extremely important to driving a high level of traffic to your website, but because search engines and social media sites continue to become intertwined, each may now be equally significant in how home buyers find your web site. The best advice for any agent right now is to start putting an equal amount of time into both search engine optimization and social media'after all, social media, in a way, is now the new search engine to some degree.

Joe Heath is a graduate of Indiana University and also holds a Graduate Certificate in Real Estate Development from Drexel University. After working in the market research sector and authoring published Market Snapshots for Hanley Wood Market Intelligence, Joe now works as a Web Marketing Specialist and co-owns Real Estate Web Creation with his partner, Ted Guarnero, a 25+ year real estate veteran.