Luxury Real Estate – The Importance of Staying Positive

September 4, 2010 – 4:37 am

It is easy sometimes for homeowners to get overwhelmed by negative news and downward trends in the real estate market, including luxury real estate. In light of the recent news about home values across America hitting new lows, it is important to try your best to stay positive.

Owning a home is still one of the most sound and time-tested investments one can make. The luxury real estate market always goes through cycles – values go up, values go down. At each of these points, it is important to note that at any given time, either the buyer or the seller is at an advantage.

The Positives for Buyers:

Right now, it’s pretty easy to see that the advantages lie with the buyers. Now is a PERFECT time for anyone who has been looking for luxury real estate and luxury properties. There are so many amazing luxury properties for sale right now that if you have the means; incredible values are there for the picking!

During down economic situations, many families and homeowners are trying to find ways to cut expenditures and decrease their debt. Sometimes, this means selling their luxury property and finding something slightly more economical. These situations provide great opportunities for new luxury homebuyers.

With more and more luxury properties going on the market – the number of choices is increasing exponentially. It is becoming easier for buyers to find the luxury home that has everything that they are looking for. Each buyer has different needs and expectations, so having more and more options available, it is more likely that that perfect home will be available.

The Positives for Sellers:

So, how is any of this positive for sellers? Well, if sellers think in terms of the value lost, since the burst of the recent housing bubble – it might not seems very positive at all. However, just like any free market system, when prices go down, demand goes up! Sellers may not be getting the full value of the home in terms or recent prices, but most likely – depending on how long the sellers have owned the property – the value, in most cases, is still higher than the purchase value. It can still be a salvaged as a sound investment.

However, with prices going down, and interest rates at incredible lows, the demand for luxury properties will eventually start to creep up. If you are in a situation where selling your luxury home is a necessity – a buyer could literally be around the corner very soon.

Just like any business, marketing is the key to creating value for your luxury home. Finding a luxury real estate marketing company to help you find the right buyers is extremely important. There are many real estate marketing solutions that can help match the right property with the right buyer. If your property is exactly what a specific buyer is looking for, then it is more likely that you can sell your home for a more acceptable amount.

I’ve always said, thinking positive may not work all of the time – but thinking negative never works. Whether you are a buyer or a seller – surround yourself with people who can help you find the positive in your situation – and make the best of it!

Copyright (c) 2010 Jack Kha

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10 Tips for Buying Or Selling Property

September 4, 2010 – 3:37 am

With interest rates at an all-time low and houses at rock bottom prices now is the perfect time for first time home buyers or property investment. Whether you’re a buyer, seller or both, check out these 10 tips for navigating the real estate market successfully.

Tips for buyers

1. Be the king of the castle

Rather than owning a condo or apartment, make it worth your while and go for a house. Now is the perfect time because the economy is slowly recovering, thus interest rates are at all-time lows and if you can get a mortgage for a house, there’s never been a better time.

2. Location, location, location

It does not matter if you’re a first-time buyer, investor or existing homeowner, as the old adage goes location is everything. Look less at the size of the house and more on the location of the lot, as that will make the difference when trying to sell. Any condos or apartments near shopping, transit or university/collage will really set your property off from all the others.

3. How much can you spend?

This question is vital to a happy home buying experience. Meet with multiple mortgage lenders and obtain a few pre-approved mortgages before even looking for a house. Once you have a maximum amount established it will help to narrow down potential homes, and will help you avoid even looking at homes way over budget so you don’t get carried away. Most importantly stick to your budget!

4. Look outside the city

Instead of just looking within major city limits try looking in established, well known areas a bit out of the city. This will more likely result in more bang for your buck, and is a better option for a family as it will allow for more space and the freedom to roam.

5. Know your credit rating

Make sure your credit is in good standing before meeting with a broker. This will not only avoid unwanted surprises and delays in the future, but may also save your reputation with your broker. Both Trans Union of Canada at 1-800-663-9980 or Equifax Credit Information Services Canada at 1-800-465-7166 can help you find your credit rating.

Tips for sellers

1. Out with the old in with the new

Before selling your house, bring its aesthetics up to par. Make sure to remove all clutter from within the house, and keep the yard tidy for maximum curb appeal. Add bright accents to area you want to highlight, and remove or recondition older furniture. Or if you’re not the best designer consider hiring a professional stager, it may cost a pretty penny but you can make a first impression only once!

2. Advertise your way

This can be either in the form of a Real Estate agent or FSBO, it all depends on you and your needs. If there is no rush I would suggest trying online real estate classified websites such as The Home Machine as you could save thousands of dollars in commission, and learn a few things along the way. Or if money is no object or time is tight then a Real Estate agent may be the way to go, as it leaves you free for other things. Only you know your property so only you can decide.

3. Is the price right?

Price your property right the first time, and according to the current market conditions. Some sellers believe that if they overprice their property, they have more room to negotiate or they can always reduce it later. This method is not worth the minuscule gain it may bring because many buyers will just skip over your home as they cannot afford it. Also continually reducing the price does not make potential buyers confident in the home as it leads to questions as to why the price keeps dropping.

4. Upgrade and update

If your homes till has shag carpet and dangling beads in place of a door consider updating such dated items as it hides the true beauty of the home and potential buyers will immediately be turned off by it. Don’t gut the entire house, but dated items MUST go before an open house.

5. Closing dates are negotiable

If you receive an offer, but the closing date is 30-60 days later than the property you are moving to, don’t let that decided the fate of the deal. Most mortgage lenders will approve bridge financing for short periods if all conditions have been removed and the sale is firm. If you are still uneasy call your lender and confirm they will help you out in this scenario.

Homes and property for sale and rent! http://www.thehomemachine.com

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A Great Place to Live

September 4, 2010 – 2:37 am

Did you know that Money Magazine named Colorado Springs the number one best place to live? It is considered a large city by US standards and ranks just below Denver in regards to population as well.

Offers all the conveniences of the big city, medical and vision services are no exception. In Colorado Springs, eye doctors work with a wide cross section of the population so they’re used to coordinating with multiple insurance carriers and flexible payment arrangements. Some Colorado Springs optometrists even offer a sliding payment scale based on income to try and assist clients without any insurance available.

In addition to general eye services, LASIK in Colorado Springs means state-of the-art equipment with equal flexibility in payment options. You may think laser eye surgery won’t fit in with your budget, but the cost associated with the LASIK procedure continues to grow increasingly affordable as equipment allows for added efficiency.

Not all employers offer vision insurance anymore or plans covering LASIK either, but they may instead offer participation in discount plans that won’t cover expenses, but still save you money in the long run. Some medical carriers also offer automatic reductions for vision services independent of full-fledged vision coverage.

Don’t forget to consider utilizing any medically restricted accounts you have either. All vision purchases can be made from a health savings account, flexible spending account, or any cafeteria plan with any balance, large or small.

Within and beyond, eye doctors are willing to work with patients more than ever to assure healthy vision. Don’t forget about the health of your eyes when you can find a provider who works closely to help you meet financial obligations.

Abba Eye Care ( http://www.abbaeyecare.com/ ) offers a full range of services, Colorado Springs optometrist and procedures from routine examinations to laser eye surgery consultations to serve your eye care needs.

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