Tag Archives: real estate

Have the Best of Both Worlds With a 1031 TIC Exchange

Lease AgreementWhile lucrative, managing a rental property can be a tad too demanding for most folks, especially when you become older. Dealing with some troublesome clients can suck the joy right out of the process. On the flip side, the monies that roll in every month are good for your financial outlook.

If you are keen to enjoy the benefits but escape the hassle, then you’re the perfect candidate for a 1031 TIC exchange. Some firms such as 1031 Exchange Place can help you get started with this.

Surprisingly, you can have the best of both worlds with a little help from an unlikely source – the government.

Escape the taxman

Okay, escaping the taxman while looking towards the government for help might seem controversial but not this case. See, to encourage people to reinvest their capital gain in the real estate sector, the IRS lets you defer the tax on gains.

Under the section 1031, you get to keep all your capital gains but only if you reinvest the entire amount into a commercial property. While the process is a tad complex and requires you to retain expert helps, the benefits are truly worthwhile.

The lowdown of it is that you need to sell your current property and buy up to three other properties of equal or greater value.

Escape managing tenants

If your interest is to have a comfortable retirement without the responsibilities that come with property management, then you’re in luck. Instead of going for new properties, you only need to choose the tenants-in-common option.

Under this provision, you channel your sales proceeds into buying a portion of a larger property. For instance, if you raise a $1million from the sale, you can use the money to purchase a million’s worth of share in a multi-million shopping mall.

Under the tenants-in-common provision, you have no active management in the property, but you get a share of the profits each month.

If you’re looking to give up active management in the real estate sector without giving up the money, the government offers you a way out. Signing up for a 1031 TIC exchange lets you have the best of both worlds.

Have the Best of Both Worlds With a 1031 TIC Exchange

Lease AgreementWhile lucrative, managing a rental property can be a tad too demanding for most folks, especially when you become older. Dealing with some troublesome clients can suck the joy right out of the process. On the flip side, the monies that roll in every month are good for your financial outlook.

If you are keen to enjoy the benefits but escape the hassle, then you’re the perfect candidate for a 1031 TIC exchange. Some firms such as 1031 Exchange Place can help you get started with this.

Surprisingly, you can have the best of both worlds with a little help from an unlikely source – the government.

 

Escape the taxman

Okay, escaping the taxman while looking towards the government for help might seem controversial but no this case. See, to encourage people to reinvest their capital gain in the real estate sector, the IRS lets you defer the tax on gains.

Under the section 1031, you get to keep all your capital gains but only if you reinvest the entire amount into a commercial property. While the process is a tad complex and requires you to retain expert helps, the benefits are truly worthwhile.

The lowdown of it is that you need to sell your current property and buy up to three other properties of equal or greater value.

 

Escape managing tenants

If your interest is to have a comfortable retirement without the responsibilities that come with property management, then you’re in luck. Instead of going for new properties, you only need to choose the tenants-in-common option.

Under this provision, you channel your sales proceeds into buying a portion of a larger property. For instance, if you raise a $1million from the sale, you can use the money to purchase a million’s worth of share in a multi-million shopping mall.

Under the tenants-in-common provision, you have no active management in the property, but you get a share of the profits each month.

 

If you’re looking to give up active management in the real estate sector without giving up the money, the government offers you a way out. Signing up for a 1031 TIC exchange lets you have the best of both worlds.

3 Soft Skills You Need to Be a Successful Real Estate Agent

Real Estate Agent showing a house to a coupleForecasts for the Philippines’ property-selling industry is bright. This is great news, especially if you are a real estate agent waiting to break through in your chosen profession.

Indeed the time is ripe for you to close deals on your Lancaster listings with good reviews and rake in all the commission you can. But first, make sure to have and practice these three soft skills industry expert Land Price List swears by.

1. Work ethic

As a real estate agent, you must be a bona fide hustler. There are many things to accomplish: you need to market yourself, you need to keep in touch with existing and potential clients, you need to accomplish paperwork, and you need to keep abreast of fluctuations in the market.

2. Communication skills

A bulk of your job is communicating with people. With this said, you must be adept at conveying and receiving both verbal and non-verbal cues. There are tutorials and self-help resources out there that you could work through if you think you need a boost in this specific skill.

3. Time management

The best real estate agents are like jugglers. They can accomplish different things at once. This might prove challenging at first, but as you go through your career, it is something you will inevitably develop.

Real estate agents are good earners. If you are part of a property-selling company, for instance, you could get between 2.5% and 5% commission for every deal you get to close — on top of your basic salary! Consider closing a deal amounting to PHP50 million. That’s at least PHP 1,250,000 of commission.

Now if you have all the required soft skills for selling, such as the ones mentioned above, surely you can do even better.

The Cost and Convenience of Conveyancing Services

House with a for sale signWhen buying or selling a house or any real property, there is an associated cost to it, roughly divided between the commission and conveyancing costs. At the start of the sales process, the brokers negotiate the rate of the commission, while conveyancing solicitors estimate the conveyancing costs.

You can save some money when you compare the conveyancing costs before you commit to any solicitor or conveyancing service provider.

It is a service

A conveyancing solicitor provides a service, and as such, it is a convenience for the property buyer. If you start your search for one to help and guide you throughout the conveyancing process, you will find that there are actually a lot of them. You have to choose the one just right for you.

It will cost you

One criterion you can use is the cost of the service as money is always important. It does not always mean that inexpensive is better. You should strike a balance between costs and the quality of service they provide.

It will take time

Another measure you can employ is to determine the length of time it will take to submit the conveyancing papers. For those who advertise this service online, they normally no longer see their clients face-to-face as the property buyers are busy and might not have the time to meet with the conveyance solicitors.

This is okay, but in determining the time frame, fast is not always better. You might get sloppy work full of loose ends that will only inconvenience you later and cost you a significant amount of money. Again, find a balance between the period and the quality of service.

It is for your convenience

This is what they do. Conveyancing solicitors worry about almost everything so you would not have to. It is what you pay them for. They are responsible for the documentation of the whole process and the final processes.

They negotiate fees beforehand, so be sure to find them reasonable.

The conveyancing process is really a chore, but it is one that you can entrust to conveyancing solicitors. But make sure you find a trustworthy and reliable one. Happy hunting!

CoreLogic: Home Prices in Sydney May Further Decline in 2018

SydneyThis year could be a good time to buy homes in Sydney, as residential real estate prices are expected to fall around 7 per cent, according to CoreLogic.

The real estate firm based its prediction of lower prices in Sydney from results in December 2017, when prices fell nearly 0.9 per cent. A median-priced house in the city costs more than $1.05 million, while the median cost of an apartment amounts to more than $774,124.

Price Drag

The price slowdown may even continue until 2019, suggesting that the market has reached its peak after booming in recent years, said CoreLogic head of research Tim Lawless. Since peaking in August 2017, the housing market in Sydney has recorded falling prices, he added.

Several other housing experts predict that price depreciation for homes could drop by as much as 10 per cent. This benefits those who plan to buy their own homes, although take note that investors and homeowners may decide to hold on to their properties due to declining prices.

Market Trends

Some sellers will not just defer a listing on the market because of low prices, but also to avoid paying high stamp duty on property transfers worth around $50,000 for median-priced homes. These homeowners usually comprise growing families, who want to offload their house to buy a bigger one.

Instead, a possible trend among upgraders in 2018 involves renovations amid low-interest rates for financing housing improvements, according to ME Bank head of loans Patrick Nolan. As some households decide to stay put, their residential projects will cause more business for companies that offer waterproofing supplies in Sydney.

Conclusion

Homes in Sydney might become cheaper in 2018, but a lack of supply presents challenges to buyers. For homeowners that still plan to sell, renovations will help in boosting the value of your property.

Home Purchase: What’s Your Personal Situation?

Real estate sign in front of new house for saleBuying a house, for the most part, is a financial commitment. Apart from getting a mortgage, you also need to mind all the other costs associated with owning one. This purchase requires you to be ready for the expense, but you also need to mind your personal preferences like where and how you’d like to settle down.

Mortgage companies South Jordan share the personal aspects needed to assess your readiness in buying a home.

Ready to Stay in One Place

When you’re buying a house, you are also buying the area or location. This is why you should be ready to commit to one place for some years. The location should suit your needs with accessible grocery stores and transportation, good career and educational opportunities, and other factors that matter to you. It’s best to spend some time in the neighborhood to make sure it is the right fit.

Personal and Professional Stability

Your finances will play a big role in buying a house, but you shouldn’t completely ignore your emotions. Being stable in your personal and professional life can give you enough emotional support required in buying or owning a house. If you think that you will need to switch jobs or move to another area in the future, it’s best to put off buying until you have the stability in your career, finances, and goals.

Prepared to Take on Responsibilities

Owning a house is exciting, but it comes with responsibilities. You have to be ready and feel comfortable taking on tasks related to home maintenance. This can take up effort, time, and extra money. You (or split the tasks with your partner) need to keep the yard looking good, clean the gutters, run a self-inspection of your home, and other maintenance-related tasks.

Making the decision to purchase a house is always a personal one. You need to assess both your personal and financial goals. If you think you’re ready to take the plunge, get in touch with a reliable mortgage company to know more about your home loan options.

Considerations When Choosing a Real Estate Agent

Man smiling while holding on to his laptop and bookThere are many things that you can successfully do on your own. But selling your property without the help of another party is not among them. Real estate agents have specific skills and information that you may lack, and, if you want to increase your chances of selling your property fast and at your asking price (or even beyond), you should look for the input of these professionals.

There are more than a handful of these real estate agents in Auckland, New Zealand, but there are particular factors you should consider to determine which agency will meet all your property selling needs satisfactorily. Here are three of the essential ones:

Price Negotiation

Home sellers may be emotional in the selling and negotiation process. That, however, is never the case when working with a real estate agent; they negotiate impartially and use their negotiation skills to your benefit. They could bargain much better than you when it comes to the asking price of the property.

Customer Reputation

Seek to know what past customers say about the services they received. You will also want to confirm whether they received the full payment of the agreed amount. Trustworthiness is an element you should not ignore.

Industry Experience

Lastly, check how long the real estate agency has been in the industry, and whether they have a reputation that will help you sell or buy property. Only then can you tell that they can project future property market prices quite precisely.

For many homeowners, how fast they sell their property in Auckland will depend on the real estate agent they choose to represent them. Experience, skills, and expertise count, but it’s only trustworthiness and reliability that will help you complete the process.

Deciding on Where to Live in the U.S.

Couple bought a house
Looking for a place to relocate in the U.S. should be an exciting time for you, as there is practically no end to the list of places you can choose from. As with any other buying choice, however, you have to consider the merits of the items on your list. Here are some of the criteria you may want to use:

Cost of real estate, cost of living

Some of the lists you’ll find in the best places to live in the U.S. include areas popular for the low or reasonable cost of living. For example, Saint Louis homes for sale are reasonably priced and the area promises low expenses for basic necessities. Even if you have the money to choose a house in a wealthy city, it’s difficult to say no to a bargain when the area offers everything else you need anyway. This is especially attractive to families.

Available features

The area you choose must coincide with what you value the most. For instance, if you are looking for a graduate school, the quality of education in the university or college you choose will likely dictate where you should live.

Keep in mind that if you are looking for a balanced life, you can’t pour everything into that. If you look hard enough, you’ll find a place with good schools and other features that matter to you, such as support for business or perhaps some facilities for healthy living like parks and gyms.

Neighborhood values

This is one of the most important factors you should never ignore. If you are a friendly person, you may want to spend a bit more time visiting areas where there is a strong spirit of community. If you prefer keeping everything to yourself, on the other hand, you may want to live in a neighborhood where people value privacy and quiet more than block parties

The good news is, whatever your interests are, there is a place in the U.S. where you can enjoy them and even get support for them. Do your research, talk to realtors, surf the Web, ask people you know about their neighborhood, and visit the places on your shortlist. If the place you want isn’t there, make another list. Do this until the features you value the most match the features of your options.

A Realtor’s Secret: 3 Ways They Attract Single Home Buyers

Single Home Buyer in North ShoreIn the past, buying homes was often a ‘tag team’ activity. When people say they wish to buy a home, others would assume they are married or considering marriage. To others, the idea that a single person wishes to purchase a family-sized house sounds ridiculous.

Today, however, that is no longer the case.

Making your property more attractive to single people is the new business move for today’s realtors. North Shore property managers focus on enticing single individuals not just to rent, but to buy a home for their supposed future.

But how do they do it?

Focus on the Lifestyle

Single people who buy their own homes have a particular lifestyle in mind. Couples with small children often think way ahead every time they visit a site. Single people, on the other hand, focus on the lifestyle they want to have.

Get to know the buyer at a professional level, but also pay attention to their interests. If your property has a small garden and the prospective buyer has a green thumb, point out the green lifestyle.

Highlight the Neighbourhood​

Families who buy homes focus on the neighbourhood, but what about single parents?

The proximity to schools, supermarkets and parks matters to those who work. Everything should be within their reach, and a neighbourhood that promotes easy parenting wins.

Real estate agents know that convenience is key. If the property is close to transport hubs or the central business district, it becomes more attractive to prospective buyers.

Make the Property Ready for Moving in

In this millennial age, single homebuyers want to move in as fast as they can. They do not have time for major renovations. They want to buy a property that they can move into immediately. From the fresh coat of paint to the necessary features, real estate agents ensure the homeowner will have everything they need when they move.

Real estate agents want a diverse market and today, singles are dominating the search. With these tricks, they easily reel singles towards their property.

 

 

Home Improvements to Add Value to Your Property

Home ImprovementThe housing and real estate market is still recovering, but there is no doubt it’s a lot better now than it was several years ago. When thinking about remodeling and home additions, it makes sense to consider how the project will affect your home’s value. So that if you ever decide to sell in the future, you can recoup the cost of the project and probably even make a small profit.

Some home improvement projects have almost instant positive effects on the value of the property.

Here are a couple of examples:

Bathroom Improvements

Remodeling or adding improvements to your bathroom is a great idea if you want buyers to appreciate your house even more and pay top dollar for it. In most cases, if a buyer sees how well you take care of your bathroom, and understands that you are willing to spend money on it, they may assume you take great care of the entire house. Adding an extra bathroom is not a bad idea, either.

Kitchen Remodel

The typical homeowner will probably spend a third of their time at home in the kitchen. For this reason, a modern and charming kitchen remodel is always a welcome sight for any homebuyer. Just be careful in deciding what colors to use. White is always a winning color when it comes to kitchens, as it makes the area look bright and clean.

Some home improvements depend largely on the location of the house to be effective in raising the property’s worth. If you live in an area where such an improvement is not uncommon — perhaps even expected — then you are making the right choice. Here are two examples:

Swimming Pool Installation

A swimming pool may cost a considerable amount, but it does add character to the property. Apart from making your home an instant venue for fun parties, exercise, and water therapy, a beautiful pool may also add to its market value. You may build one yourself, but it’s advisable to hire professionals like Advantage Grading and Engineering, from the excavation of the property to the pool material itself. A professionally designed and built pool is more likely to fetch you a handsome reward come selling time.

Adding a Fire Pit

A tastefully built fire pit can give your home a place for entertaining or simply spending some quality time with family outdoors even during cold weather. There are some considerations, however, such as getting a permit to build one and making sure the smoke from the pit doesn’t bother neighbors. If you build a fire pit, however, its presence alone can lend some class to your property.

Increasing the value of your property doesn’t have to be stressful. With smart planning and with the help of experts, you can make that remodeling project a successful one.