Important Commercial Real Estate Investment Precautions

real estate investment photo
Photo by MarkMoz12

Investments in commercial real estate are the upcoming and highly lucrative area in the business industry. To have a commercial property of your own adds financial security to your life and to other business losses. Many big industrial giants engaged in several other businesses ensure to invest in commercial real estate as it pays too high with fewer investments. Owners can opt to offer as commercial space for lease or sell the property with high price. Both options provide financial security that can cover the loss in business or satisfy personal demands.

People looking to have own commercial real estate need to take care several things before buying or obtaining commercial space for lease. Here are the points that describe the precaution need to ensure before purchasing or obtaining lease:

Investment plans
People need to consider the seriousness involved in purchasing and selling the property, or investing for its developments. There are offers always made available by the big giants to invest in their property development. The returns are too high that just need a said amount to invest. On the other hand, purchasing a land and then modifying it to acquire high profits by selling, need better financial support. So, understand and recheck the financial support you can rely on during investing or developing a commercial real estate.

Compliant issues and legal documentations
Commercial property always involves several clauses that need advises from knowledgeable attorneys or legal advisors. Land acquisition, development complaints, construction safeties & causalities, infrastructure requirements such as space planners, budgeting and management, data and phone installers, furniture retailers, movers & packers, parking, construction certification, etc are several issues need to mention with solution in the agreement. All above-mentioned things get increase or decrease depending upon the possession, it depends whether you need commercial property for ownership or lease.

Contacting a competent commercial real estate brokerage
Investment, development and lease can only be lucrative unless you have contacted a genuine and research oriented business real estate agency for the business. The commercial property brokers will encourage you to opt for short term and long term investments as per your budgetary requirements. You want to be owner, want to share your contribution in developments plans for best returns or need office space for rent, every solution provided will satisfy your need with hassle-free investments.

These major three things need to be ensured before involving into commercial real estate investments. Contacting a wise commercial real estate agent will double the expectation by eliminating all hassles from the deal.

You Must Read If You Are Looking Into Purchasing Real Estate

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Photo by miamism

Buying real estate can be stressful and a life changing event. However, the stress you get when purchasing a house can be lessened though knowledge. By reading the following tips, you can be ahead of the game and make buying a home a positive experience.

Real estate agents need to get a hold of their former clients during anniversaries and holidays of their date of purchase. When they hear from you, they will be reminded of how much you helped them when they were purchasing their home. End your message by reminding them you work on a referral basis, and ask them if they would be willing to refer you to their friends.ds.

Prioritize what you want before negotiating a final price for real estate. Identify all the issues on the table and set your expectations for each of them. Your convictions and expectations will be useful for prioritizing each goal. However, it is likely that you will not get every one of your expectations fulfilled. Remember this and stay flexible on the less important issues.

If you want to buy a spot for a business, ensure that it is located in a good area with reasonable stability and opportunities for growth. Open your company in a nice neighborhood to ensure you get more customers to your store. Ask your real estate agent where an ideal location to open a business is.

Doing your research beforehand is vital when you get into the rental property business. Even for rental property, you should look at some important features before purchasing. The first key feature is sustainability. Will the property come to you in good condition and how much maintenance will be needed to keep it up? The next key factor is location. This especially goes for rental properties. A good investment should be in a safe neighborhood with access to different stores, schools and job opportunities. Also, make sure to take into consideration the average income in the neighborhood. An area with higher income is preferable to those with a lower, average income. You should also keep in mind that concerns about location are not as high a priority for high rent areas. Locational issues do become more of a factor in areas with a lower rent.

Have a pre-qualification letter from a reputable lender before beginning your home search. It would be a shame to find the one home you’ve been looking for and then discover that you can’t get a large enough loan to cover it. Securing a loan can also take a really long time, you don’t want to have to deal with that at the very last minute!

If you’re interested in investing in real estate, it’s best to consult with a professional real estate agent. Agents and brokers may have access to specialized directories and listing search tools that make your search for the perfect property much easier. Tools that they have in their arsenal include special software programs that sort and search the listings on MLS. When searching through MLS alone, these tools can help you find some great deals that could’ve been missed.

Don’t pay high premiums on homes just because of a nice view. Even though you may love the view, when you resell the house there is no guarantee that prospective buyers will value it as highly as you do. So, you should purchase a home if you like the view, but don’t pay too much.

When thinking about moving, take some time to explore the area around your potential purchase on the world wide web. There are several sites online that give statistics for even the smallest city. Before buying a home, research the unemployment, population and salary margins.

Buying insurance for your home should be your very first step, before actually moving anything into the house. If you put off buying insurance, you’ll be sorry if there is an unpredictable act of nature that causes irreparable harm.

This advice will be a perfect way to get started in the home buying process. By following them, you can make sure you don’t commit common mistakes. Enjoy the shopping experiences, and your new house!

Why Real Estate Investment Includes Risk Analysis

real estate photoThe bottom line about any real estate investment analysis is that it is a risk analysis. If risk was not an issue with investing, and all the results of any given investment were known with certainty, than creating an analysis for any type of real estate investment would simply be a matter of arithmetic. But the truth about real estate investing is that many factors come into play (i.e., the economy, tenant trends, etc.) that make it impossible to ever know with absolute certainty enough about a typical property to remove every element of the unknown.

Since the ability to accept varying levels of risk will differ from investor to investor, many simply avoid real estate altogether and opt to put their money only in relatively risk-free investments such as government Treasury bills. But the price for this lower level of insecurity, of course, is a lower rate of return. Why, because a relationship always exists between risk and rate of return. Therefore, when investors are attracted to the certainty, they in effect force down the rate of return they are willing to accept as a tradeoff for their unwillingness to accept uncertainty.

Okay, so what about the risk takers? What can investors who prefer to collect the higher rates of return associated with real estate investment do to deal with (and perhaps minimize) the ambiguity? Investors must exploit tools that can potentially measure this risk. One method is by applying what is known as a “probability distribution” to prospective real estate investment opportunities.

For example, rather than using just one set of rents to ascertain potential cash flows and returns for a rental property, the investor should consider several rent scenarios that reflect an estimated probability of their occurrence.

In my real estate investment software, for instance, a form is provided that allows users to apply three different rent scenarios to a rental property. This way, rather than just having to accept whatever rents are presented by the seller, the investor can analyze the cash flows and returns based upon a range of rent probabilities (i.e., most likely, somewhat likely, and not likely but “wow, wouldn’t it be great”).

The logic is straightforward. Say, for example, that you’re doing an analysis on a ten-unit apartment complex made up of ten two-bedroom, one-bath units each reportedly with the potential of renting for $700 per month. My own experience warns me that “potential” rents may (or may not) be likely, so I always prefer to run my own rent scenarios. In this case, then, you would use our Rent Scenarios form and assign three rent probabilities based upon your own measurement of risk, and instantly you are the results so you can analyze what impact each rent might have on cash flows, rates of return, and profitability. The outcome if monthly rents are more likely at $650, for instance, could affect your willingness to chance buying the property.

This is only one of a variety of mathematical and statistical approaches to risk analysis that will help you address the uncertainties of real estate investment. But you get the idea. The best way to deal with uncertainty is to measure it. And the probability distribution we illustrated for rents is a good first step.

You can see a screenshot of our Rent Scenarios form at http://www.proapod.com/Tour/basic/screenshot_4.htm

Zuellig Building A green footprint for Makati’s Commercial Real Estate Market

In 2009, Bridgebury Realty Corp, an affiliate of the Zuellig Group, announced that it will be investing 7 billion Peso for the construction of the Zuellig Building. The Zuellig Building, to be completed by Q1 2012, is located in the Makati Central Business District, at Makati Avenue corner Paseo de Roxas, on a lot area of 8,285 square meters. The 33 storey structure is a premium, commercial, single-owner office building, with 55,000 square meters up for lease to multi-tenants Interestingly, the Zuellig Building will be the first ever Leadership in Energy and Environmental Design (LEED) pre-certified Gold building in the Philippines. LEED is an — internationally recognized green building certification system, providing third-party verification that a building or community was designed and built, using strategies aimed at improving performance across energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts– The LEED certification is meaningful given the increasing awareness and support to -green- efforts and saving the planet. From a business standpoint, the building promises operational savings on utilities (up to 40%) for tenants locating to the Zuellig Building.

Following the global financial crisis of 2008, the Metro Manila office real estate market is starting to stabilize and is now slowly recovering. Demand for Prime and Grade A office space is expected to pick up in the near term, coming from the positive business sentiment towards the new Aquino administration. According to Michael McCullough, Director of Manila real estate brokerage firm KMC MAG Group, -We have observed an increasing demand in premium office space in Makati, starting late 2010 until now. Therefore, we think the Zuellig Building has been perfectly timed to enter the commercial real estate market in Makati and the Philippines.- Upon completion in 2012, the Zuellig Building will be the only new Prime building in the Makati Central Business District. For perspective, by 2012, the other Prime buildings will be significantly older: Ayala Tower One would be 16 years, Philam Life Tower and the Enterprise Center would be 13 years, and RCBC Plaza would be 11 years. Given that a high-rise would take about three years to complete, no other new Prime buildings are expected by 2012. 2.

Florida Commercial Real Estate – Having the Best Commercial Property

You can always take advantage of the recession and make some good profit in times of need. Are you wondering how this can happen? By simply investing your money in Florida commercial real estate, you will surely achieve your goal.

Florida is a well-known thriving part of the America. Money may be a little bit tight during recession but there is always a good business in Florida wherein tourists from all over the globe are flocking together. With this it is time for you to take advantage of buying a commercial property in Florida commercial real estate market. t.

These commercial properties are can be rented by prospective business owners or you can set your own business here since you have the advantage of having a good location. And after some few years when you are tired of the routine, you can even sell the place and earn a good profit from it. Normally these properties in Florida commercial real estate can double or even triple the price. With this, there will be a lot of prospective investors who will get interested of it.

Having your own Florida commercial real estate property can offer you a lot of things. As mentioned earlier, you can have it rented or open your own business using the property. You do not have anything to worry about since these properties are usually situated with those populated areas of Florida.

Opening your down business in Florida is a good idea since the money that you will use as your capital will never decrease. As we all know tourist is willing to spend for their vacation and that is good for the Florida economy not to mention their entrepreneurs. You might want to consider venturing into a hotel, spas, restaurants, bars and night clubs, shops and equipment rental for water sports and other activities. Even paid parking space is a good business idea in Florida.

When it comes to Florida commercial real estate, the location is always good. You dos not have to worry about wasting your money on a worthless piece of land even if you buy one in a small city because you can always expect to earn and appreciate after few years. Knowing all the advantages that you can get out of Florida commercial real estate, you can go ahead and start your investment. There are plenty of commercial properties that are available and for sure you will find the right one for your business ideas. You have to take time in searching and collecting selections. Once done checking the commercial real estate market, then it is time for you to make some comparisons among the selections that you have. This will help you end up with the right commercial property to invest.

Ella Ayson
Florida Commercial Real Estate

Why Hire A Slidell Real Estate Lawyer

Most people do not know the importance of hiring a good Slidell real estate lawyer. Although seeking the help from a lawyer to plan out Slidell wills is not necessary but it is always a wise idea to do so. The real estate is governed by rigid and complicated laws, making it necessary to plan the property in the best possible way so that no one faces any problem in the future. Without help from a Slidell real estate lawyer it becomes very difficult to go through the settlement proceeding of the estate. Moreover reliable and good lawyers like those at Airey Blanchard Law Office can provide you with many strategies to ease the burden of going through a settlement process. Most of the lawyers prefer to keep the assets away from the probate court as it helps in quick transfer to the beneficiaries after the demise of the owner.

Michelle Blanchard the managing member of the Airey Blanchard Law Office believes that it is always helpful for the client if they involve Slidell real estate lawyers for handling estate planning in case the owner has passed away without providing any will. When it comes to property there are several hassles and problems involved which must be taken care of with the help of good real estate lawyers like Michelle Blanchard. Once the person comes in touch with the wills attorney, his demands and needs would be considered by the attorney before he can begin with the planning of the property. Proper planning also helps the beneficiary to avoid heavy taxes.

Most of the practicing attorneys working with Michelle Blanchards law office are quite experienced and specialize in the field of real estate planning which ensures that you get only the best available services. These attorneys can help in devising several different strategies for planning and distributing the property among the beneficiaries without any hassle. When working with Airey Blanchard Law Office you can be completely tension free regarding the quality of the work delivered since all the attorneys are well educated and have the required experience to carry out the task well. They fully understand all the legal requirements and needs of a property and point the client in the right direction. Working with such skilled professionals also means that you can be free from any sort of hassles which could arise in the future due to the division of the property.

Predictions Are For A Slowing Real Estate Market In Canada

Contingent on who you question, you will find varying viewpoints on when and how the Canadian housing market will cool down from its recent meteoric climb. For instance, TD Bank economist Pascal Gauthier bluntly stated in an interview with “Globe and Mail” this month that even though housing prices will carry on increasing by 9% over the 2009 figures until the middle of 2011, they will then sharply fall — possibly as low as 2.7 percent. But economist Sal Guatieri of BMO Capital Markets is somewhat hopeful, telling “The Montreal Gazette” that the overvaluation that resulted in the real estate bubble will just affect large cities, and should not bring about the kind of nationwide collapse anticipated in the US market. However they both agree that the Canadian housing sector will need to cool down, but just how soon it will take place and how quickly it will fall is the question still up for debate.

Guatieri indicated that the price for a family residence should be “about four or five times income,” however the current market in Toronto and Vancouver is closing in around $700,000, which averages 10 times the earnings of the home owner. Even though TD Bank had at first forecast 1.6% gains in 2011, this kind of real estate hyper inflation in the middle of economic recovery has in fact compromised the market, and they are already seeing the signs of cooling this year derived from the surge of new housing starts and new listings. places like Mississauga are still seeing an escalation in new Mississauga condominiums but sales could start to cool.

In their discussion with “The Vancouver Sun,” TD admitted that their forecasts have been off in the past, because their late 2009 forecast did not anticipate the rise in first quarter sales for that year that was an unpredicted “move by buyers and sellers to pre-empt regulatory and interest-rate changes”. The looming harmonized sales tax due to take effect in July in Ontario and British Columbia definitely impacted markets in those provinces. In expectation of this July time limit, the Bank of Canada has now declared its intention to lift their overnight target rate by July to counterbalance the recent record breaking low rate of 0.25 percent. Higher borrowing costs should act on cottage country with deduced values for places such as Wasaga Beach real estate and this could constitute an opportunity for buyers.

As family incomes catch up with the level of inflation — a whopping 8 percent over the past 8 years — TD predicts that overvalued housing prices will continue to fall from 15 to 10 percent by the end of next year. This is bolstered by a decline in MLS sales, that as well includes Toronto MLS listings, over the last 6 months that the Canadian Real Estate Association has observed. But everyone can spot signs that the whole housing market has been affected by the high percentage of boosted values in the cities — how far this influence will spread is the primary question.

Gauthier describes his forecasts are a consequence of the “stronger supply response,” and that the “market balance is now expected to be somewhat softer next year, consistent with market conditions more favourable to potential buyers and a mild depreciation in home values”. But Guatieri thinks the approaching slow down period does not automatically mean that housing prices will indeed fall, however predicts it as a gentle adjustment after the recent surge. One fact both Guatieri and Gauthier do foresee on the horizon, though, is that regardless of when it strikes, the calming trend will not last forever, and inside of 3 years the average real estate price in the country should find a equilibrium and return to its fair market value.

Real Estate Ownership – Condominium or Fee Simple

There is a common perception of condos as being apartment style buildings, of townhouses as two-story row homes with adjoining walls, and of garden homes as free standing houses on small lots. Unfortunately, this perception creates some confusion about real estate ownership . Apartment, townhouse and garden home describe the construction layout and design of certain homes. The word, condominium, should not be used in this context.

Condominium does not refer to a type of building or construction design. It refers to a form of ownership of real estate. Condos cannot be recognized by observing the building style.

Condominium Ownership

In a condominium, the owner has individual title to the inside space of his unit. Sometimes the space is described as beginning with the paint on the walls. The unit owners also have an undivided interest in the physical components of the buildings and land. The legal definition of condominium is: The absolute ownership of a unit based on a legal description of the airspace the unit actually occupies, plus an undivided interest in the ownership of the common elements, which are owned jointly with the other condominium unit owners.

Condo projects that are built as multi story apartments are usually recognizable as condos because they don’t have land under each unit. In these developments, the condominium association normally maintains the exterior of the building and common grounds, but not the interiors of the units. An insurance policy is usually held by the association to cover the jointly owned parts of the property, while the individual owners carry insurance for the interior components of their unit. The owners pay a fee to support the maintenance of the common areas. A condo association is formed to make decisions about the expenditures for repairs and handle administrative work to manage the common areas of the project.

While some condo projects look like lofts or apartments, others may look like duplexes, townhomes, garden homes or residences on regular lots. Generally, creating a condo regime allows the developer to get more density approved than he would if he had done single ownership lots. This is usually the reason why the condo regime is chosen over the single ownership of lots. It is possible that a condominium may just be two units of a duplex. In this case the two owners may jointly make decisions concerning maintenance of any common areas. By setting up the units of a duplex as two condos, the owner is able to sell them separately to two different owners.

Know the Rules in Condo Ownership

If you are considering purchasing a condo, it is very important to read the condo documents carefully. The rules of each condominium are specific to the development, so no assumptions should be made about their requirements. The condo documents specify what maintenance is covered by the common budget. In one case, the association may handle all exterior components, decks, pools, sidewalks, driveways, etc. In another, the documents may require that the individual owners be responsible for complete maintenance of their units, including foundations, roofs and exterior walls.

After reading your condo documents carefully, you may have questions about the division of work between the individual owners and common budget administered by the condo association. Your best option is to present your question to the condo board itself. The board can clarify how the issue has been handled in the past, or give you their interpretation of the rules. Another course of action is to ask a real estate attorney to review the documents for you. Other homeowners, Realtors or maintenance workers are not reliable or appropriate sources for the interpretation of condo documents.

The Texas purchase contract for condominiums has a provision that the buyer be given a copy of the condo documents, with a certain period of time to review them. The buyer may decline the contract with no penalty during the document review period. A resale certificate is also required to be signed by the association president or manager. This form answers questions about current budgets, special assessments, insurance, lawsuits and other matters that affect the association.

Fee Simple Ownership

In contrast to the condominium regime, you may own real estate by fee simple. Fee (from the old word, fiefdom) refers to legal rights in land, and simple means unconstrained. Fee simple ownership is the absolute and unqualified legal title to real property, including both buildings and land. This is the most commonly used type of ownership.

Know the Rules in Fee Simple Ownership

In a fee simple type of ownership, there are several possibilities with respect to the obligations of ownership:

(1) The property may not be in a subdivision at all. In this case, there will be no subdivision restrictions attached to your deed that affect your use of the property. Keep in mind that you may still be governed by city or county ordinances or zoning laws, and there may be in existence previous deed restrictions limiting your use of the property.

(2) You may be a part of a subdivision that has very minimal restrictions, no common areas, no architectural control committee and no mandatory dues. Usually these are older subdivisions.

(3) You may be in a townhome project, a garden home community, or a subdivision of homes on larger lots in which there is a legally created homeowners association. If so, each homeowner is required to be a member of the association. Many associations charge mandatory dues. The association may require a certain level of maintenance by each property owner and enforce subdivision rules. For example, you may need association approval of paint colors, fences or home remodeling.

As in the condominium form of ownership, fee simple ownership does not prescribe how developments are governed, or how maintenance is handled. For example, a townhome project, with fee simple ownership, may require the owners to fully maintain their units. Or, the townhome association may handle exterior maintenance and yard work for the owners. In subdivisions with single family homes on larger lots, it is more common for the homeowners association to manage only entrances, common grounds, parks and pools, while the individual owners maintain their own properties.

Understand Your Real Estate Ownership

Whether you are buying into a condominium regime or purchasing a fee simple property, you should have a clear understanding of the type of ownership you will have in your property.

If you are buying a condominium, you should read the condo documents carefully to understand how maintenance is divided between individual owners and the common budget.

If you are buying a fee simple property, with individual ownership of the land, you should read the deed restrictions (if any) to understand the rules that apply to your property. In fee simple ownership, there may be mandatory dues to pay for common area maintenance, or, in some cases, the dues may pay for partial maintenance of the individual properties.
If you are not clear about your ownership of a property, or have a question about your obligations as a homeowner, it would be wise to review the title documents with a real estate attorney before proceeding with your purchase. Don’t hesitate to ask questions! A clear understanding of your ownership and obligations leads to a more satisfying home purchase.

——————– Roselind Hejl, CRS, is a Realtor with Coldwell Banker United in Austin, Texas. Her website: Austin Texas Real Estate Guide offers homes for sale, search MLS, buyer and seller guides. “Let Roselind help you make your move to Austin.”

Real Estate Lawyer – Why Do You Need One

Matters related to real estate are pretty complicated. People who intend to buy and/or sell houses are advised to make consultations with a specialized real estate lawyer before proceeding with the any legal property decisions.

Real estate transactions are considered to be one of the most important investments in a person’s life. This is exactly why one should be careful about his decisions when it comes to property affairs. A real estate lawyer is the person who holds expert knowledge in the field of properties, home-buying and home-selling. He is someone who is well-versed with the legal system and is capable of analyzing the possible risks that your case may be having. .

Always remember that a general lawyer might not be much acquainted with real estate affairs and hence, is not appropriate to help you in your case. A real estate lawyer has specialized in the field of residential and commercial property dealings. You need an expert who can help you to make the right decisions and can pull you through the legal procedures smoothly.

Property transactions involve complex issues and only a well-trained lawyer would know it better.

Generally, a real estate lawyer has the following duties:

1. Assisting his clients in dealing with the property procedures.

2. Negotiating on sales and purchase agreements.

3. Drafting construction agreements and ground leases.

4. Handling real estate closings.

5. Keeping a detailed record of important documents and paper-works.

6. Making sure that all the property dealings have been done in accordance with legal rules and regulations.

7. Representing his clients at the court.

Selling or buying a house is a major financial decision in anyone’s life. A house is a symbol of comfort, security and stability. So, it is more of an emotional decision for most people. Also, a huge amount of money is involved in property transactions. Involving an attorney can save you from many serious issues.

Real estate lawyers are not just mediators. They can be very helpful in settling property disputes. As they are professional in their jobs, you can be assured of your work getting over in a timely manner. Real estate matters like boundary disputes, mortgage foreclosures and property splits can be resolved easily if you work with an experienced attorney.

It is not a difficult task to get hold of an eminent real estate lawyer. Gettysburg has many good attorneys. The expert team of lawyers at Stoneduncan can be of great help if you are searching for a real estate lawyer for your case.

Buying Off Plan Real Estate In Thailand Condominium Acquisition And Escrow

Off plan condominium purchase in Thailand means buying a condo in a planning stage or a condominium not yet fully constructed. The standard payment schedule found in an off-the-plan sale and purchase agreement of a condominium in Thailand is:

1. a reservation agreement with a reservation fee of 100,000 baht (approx 3300 USD)
2. a deposit of 10 to 20% of the purchase price on the execution of the condominium sale and purchase agreement
3. periodical installments during the construction of the condominium with a final installment of 1/12th to 1/20th of the purchase price upon transfer of ownership of the condominium.

Who to pay to?

Paying in escrow for a condo in Thailand means that payments are made to an Escrow Act licensed third party financial institution or bank that will hold the deposited monies till the conditions of the condominium sale and purchase agreement have been met, depending on the contract. The use of escrow services in Thailand for property purchases is not common!!

Generally developers in Thailand DO NOT offer escrow payment arrangements. Property developers in Thailand are under the Escrow Act or new Condominium Act and Condo Act regulations NOT required to offer escrow agreements to consumers. Property developers in Thailand are free to require deposits and installments in agreements without offering any protection for the purchaser payments. There is no legal protection structure in place for realty buyers. This part simply depends on the agreed and accepted contract terms and conditions between the seller and purchaser. If the buyer pays directly into the developer’s account this is an accepted risk he as the purchaser takes.

In 99% of the property development projects in Thailand the purchaser makes the payments directly to the developers bank account. Obviously payment made directly to the developer, as opposed to payments made in escrow, carries some serious financial risks for buyers in case of default by the developer. They risk loosing all. In addition, pre-paying the development, the buyer looses all leverage in case of delay or poor workmanship. At the time of completion the buyer has paid up to 95% of the purchase price and the developer is in a much stronger position and can simply refuse transfer of ownership to the buyer.

The developers company

The standard payment schedule by which the purchase price is paid directly to the developers bank account during the construction or even before the start of a condominium project carries risks of losing your payments in case of default or bankruptcy of the developer.

An important part of this arrangement is the developers company. Is it a large SET listed (Thailand stock exchange) real estate developer or a limited liability company with a low share capital and a poor track record? Limited liability for the developer means limited liability and in case of default there is for the buyers little chance of getting any of the payments back.

The Condominium Act supposed to protect the interests of the buyers of condos in Thailand but does not require the establishment of escrow arrangements in an off-plan condominium development.

Paying directly to the developer in Thailand is taking a risk.

New Waterfront Development On Lake Livingston Real Estate

Cedar Point Changes Hands

Majority control of Cedar Point subdivision changed hands this week when local company Waterfront Development purchased the Dallas-based lender EIC who had foreclosed on the property.

Immediately after completing the purchase, Waterfront Development paid off over $60,000 in back taxes and donated 114 lots to the Property Owners Association; giving them needed Green Belts, parks and several key maintenance areas in the subdivision.

In a separate action, the Property Owners association filed a lawsuit in Polk County Monday 4 December against the former developer, seeking to transfer ownership of the Common Areas from Concord Capital Group as Trustee, directly to the Property Owners Association. The former Developer plagued, by legal problems including criminal indictments, filled bankruptcy on Monday 4 December in a Dallas Court.

Over the weekend, well over half of the property owners in Cedar Point worked together and voted to change their deed restrictions in an effort to protect their common areas and clean up the old and abandoned homes, mobile homes and travel trailers scattered around the community.

Many of our residents were trying to make the subdivision a great place to live however, we needed the help of deed restrictions to eliminate the small percentage of those who are hurting our community, says POA President Bettie Dugan, a long time Cedar Point resident. Our community is working so hard to make life great here, just look at the incredible Christmas lights on the homes and at the entrance. These new deed restrictions will prevent additional mobile homes from being moved into the community while allowing the existing ones which are in good condition to stay in place.

Waterfront Development, through its subsidiary Vacation Home Builders in cooperation with The Von Schmidt Design Group already have two upscale homes under construction in the subdivision, and will begin redevelopment of Cedar Point with the help of the community after the start of the New Year with 12 new homes slated for the first half of 2007.

A separate community Know as the Villages of Cedar Point for over 55 residents is planned with cottages ranging form 900-1400 square feet. Exterior maintenance will be provided allowing people to visit family and travel without worrying about their yards. The undeveloped peninsula, which may represent the largest remaining undeveloped shoreline on the southern half of the lake, is slated to become 55 waterfront lots. Each lot will be over 100 feet wide. This project is slated for February 2007.

Waterfront Development, who will be investing over 7 Million dollars in this project, estimates that new construction over the next three years will add over 32 million dollars to the Polk County tax appraisal rolls, while providing needed new housing to attract affluent Houston buyers as well as Baby Boomer retirees.

Cedar Point is a breathtaking piece of property which we have been interested in for over two years, said Charles Von Schmidt, the companys President. We feel the market is right for a project of this nature and, with the help of local realtors, we will be able to provide jobs, needed tax revenues and additional business for local merchants.

After many years of mismanagement, the combined positive actions and forward thinking of all involved are making the future a lot brighter for Cedar Point.
For more information http://www.vacationhomebuilders.com

Real Estate Law Learn To Earn A Living

Real estate is one of the most common investments among citizens. And before the economic crunch, it was certainly one of the top money making industries in the country. It is not a wonder why there are many people who want to make real estate a primary source of income.

With all the commissions that one can earn from real estate, it’s really a lucrative business. However, before anyone can become a real estate agent one would need to have a license. This means that one would need to study real estate law and understand it thoroughly so he can serve his clients better.

Learn Real Estate Law and Get a Real Estate License

The very first requirement in getting a real estate license is one’s age. One must be at least 18 years old in order to qualify for a license.

Then one must be at least a high school graduate. This is quite expected since people would be expected to learn real estate law to get a license.

Again, it is important that one knows real estate law because there’s a written exam on it. One has to pass the real estate law exam in order to finally get the license.

Basic Real Estate Law

There are two types of real estate, commercial and residential real estate. Commercial real estate, of course, refers to a sale or a lease of property for commercial use. Residential real estate, on the other hand, is rental or sale of property to families for daily use.

Between the two, residential real estate is more heavily regulated. Since the 70’s, real estate law gives more protection to home buyers by requiring a truth in statement from the seller. This means that the seller must disclose all problems relating to the house being sold.

Failure to disclose problems like presence of termites or perhaps a wet basement could nullify the purchase agreement. The seller could also be sued for fraud. Real estate law may differ from state to state. But in many states, an inspector is required so that all problems can be determined.

Most home buyers would be required to get a mortgage from a bank or any lending institution. In return, the lending institution gets security interest. Should the home buyer default in the future, the lending institution will have the right to take the title of the property so they can resell it to recover the mortgage debt.

Nevertheless, a part of the real estate law would dictate that home buyers be told of all expenses and fees during the closing of transactions. So clearly real estate law is there to protect the buyers, the sellers and the lending institutions as well.

Interesting Changes to Arizona Real Estate Market Stats in a Year

Hello to everyone, Obviously I’m a little late in getting these stats out but really wanted you to see them. We have some interesting changes in supply and demand which could be a real boost to future market. There are so many just waiting for values to come back a slight margin which would allow them to change their address for many different reasons. It looks like we are heading in that direction. Also we are showing health in most areas of the market place. If I can help with evaluations or pricing you can afford, please don’t hesitate to contact me. I am a full time Realtor/Broker and would love to give you information that would help you now and in your future planning. Below is the direct commentary for Arizona Regional Multiple Lisiting Service. This fact, not a spin. It is what realtors actually did and recorded. My information is below. You can also go to the link for all the graphs etc. http://www.armls.com/docs/stat-2015/stat-march-2015.pdf?sfvrsn=10

COMMENTARY by Tom Ruff of The Information Market Last year at this time low demand and rising inventory signaled a buyer’s market. This year, demand is still below normal but clearly improving while supply is below normal and declining. What a difference a year makes? A quick glance at the key indicators for February 2015 paints a year-over-year comparison of the following picture: overall sales volume is up 9.4% while supply is down 11.4%. Turning to our public records data, we see new construction sales are also up 6.4% year-over-year. The subtle improvements we’ve seen in our market over the past year, namely the percentage increase in traditional buyers, is now becoming easier to see.The overall health of our housing market continues to improve. The two most important metrics that determine where the market is headed are supply and demand. STAT is a 30,000 foot view of these dynamics, so it is important agents create similar metrics on individual submarkets. It is important to view supply and demand from a neighborhood, price point, and features basis perspective as it’s an agent’s strength or weakness at the negotiation table. When we view supply and demand from a price perspective, a shortage of listings is readily apparent at the entry level. As we move deeper into our 2015 season homes priced below $200,000 are going to move very fast as Tina Tamboer-Gla?elter of The Cromford Report recently and not so subtly pointed out: -Whoever told you the real estate market is sluggish is horribly misinformed, especially if your property is under $200,000. As of today, for single family listings under $200,000 in Maricopa and Pinal, there are only 4,768 active and 4,337 under contract. That’s practically a feeding frenzy. You may be reaching your desired price sooner than you think.- Where’s the new supply for sub-$200k priced homes going to come from? It’s certainly not going to come from new construction, investors cashing out, bank foreclosures or from discovery of a hidden city below Mesa

New Construction Why’s it unlikely that new construction is going to be the hero for our low inventory problem? Because new construction has been extremely slow with only 740 new homes being sold per month on average this past year. Of those, only 12% sold for under $200,000. The average new home sold for $360,000 last year showing there is little desire to build entry level homes. Investors Cashing Out From 2009 through July of 2013 investors who bought to hold played a major role in gobbling up sub-200k properties. According to RENT Check published March 5, rents in Phoenix have risen 6.3% over the last year. With a hot rental market and properties appreciating, it’s unlikely they’ll sell. Bank Foreclosures Residential foreclosures have been trending downward for some time. Year-over-year pending foreclosures have dropped 28%, and lender owner sales have dropped 24.5%. On average 268 homes revert back to the bank each month, of those 75% are valued under $200,000 by our valuation model. Simply put, foreclosures aren’t going to put enough entry level homes back on the market. Year Residential Notices Residential Foreclosed % Notices To Foreclosures 2015 * 1,576 637 40.42% 2014 10,004 5,312 53.10% 2013 17,044 9,668 56.72% 2012 39,793 22,615 56.83% 2011 54,339 42,510 78.23% 2010 79,653 49,343 61.95%

While entry level buyers face a dilemma, the baby boomers are an area of opportunity. Boomers are beginning to retire, and a study done by the Demand Institute* shows the largest majority of boomers (63%) do not plan to move when they retire. Of the remaining 37%, some will move for health reasons while others more well off will be downsizing on maintenance but not necessarily price to upgraded convenience and features. As a boomer myself, a groovy pad has always been a part of our lifestyle, think black light posters, a significant album collection, stereos with subwoofers, and the water beds of the -70s to the wine cellars, music rooms, and designer kitchens of today. It will be an interesting phenomenon To watch the baby boomers as they retire, and when they do, it is predictable they will seek high-end finishes with nearby services and amenities. Footnote *http://www.demandinstitute.org/blog/baby-boomers-and-their-homes

Pending Price Index Last month the Pending Price Index projected a February median price of $194,800 with the actual median coming in at $195,000. Looking ahead to March, the PPI projects a median sales price of $199,000. With both the number of pending sales contracts and the number of UCB listings being greater than last year at this time, March 2015 sales volume will exceed the sales volume of March 2014 of 6,712. It would not be surprising to see a sales volume figure in March of 7,500