I was recently asked to participate in a Rest and Nourish forum, which consists of interviews with a number of people in a variety of fields about how we nourish ourselves. My responses (surprise, surprise) have to do with the space in which I live. But I also realized as I was sharing with the audience that the things I was talking about also have to do with tips and techniques I use when I am staging a home. While that may not be a surprise to a lot of people, it really brought the entire concept of staging full circle for me.

Of course when we stage a house on the market, we are appealing emotionally to the potential buyers. We want them to imagine living in the house even while they are surrounded by furnishings that aren’t theirs. And the techniques I use to do that are the same techniques I use in my own home. And that all begins with the five senses.

When I walk into my home, I want it to smell good. Isn’t that an important technique stagers use as well? Of course in my own home I use scents that may be more personal than I would use in a house on the market. But I still use essential oils rather than anything unnatural. And I love clean fresh scents (lemon, citrus, orange), relaxing scents (lavender, bergamont), and scents that remind me of home (vanilla). Which are the same scents I would use when I am staging.

I also want the house to look pretty, which means I do a quick pick-up in the morning and evening so I can clearly see the things I love without being overwhelmed or distracted. While I make sure the things I see are the things I love in my own home, I position the furnishings so the potential buyers see things they will love in the house on the market. That means the fireplace, beautiful views, and inviting seating areas.

Colors are of course important. In my own home they are my favorite colors, but I use them in a way that moves my eye through the room and creates a sense of connection throughout the entire house. And that’s what I do for houses on the market. I may use more subtle colors but they aren’t boring and the effect is the same.

Texture is important in my own home. I love soft fabrics in the winter (chenille, velvets, soft wools) and those with either a smooth texture (cottons and silks) or nubbiness (wicker, sisal) in the summer. When I stage a house on the market I take into consideration not only the time of the year but also the overall feel of the house. I know a house I stage in July may still be on the market in October (even though we hope it isn’t!), so I may find it necessary to swap out a few of the silk pillows for chenille and add a throw or two. But if the house feels like a summer house (it has lots of windows or perhaps a great outdoor entertaining area), I may stick with that summertime feel regardless of the time of year. Who doesn’t like to imagine barbecuing on the deck on a hot day when it’s 30 degrees outside? And one of the best ways I know to do that is through the use of the appropriate textures.

Taste and hearing are also important both in my own home and those I stage. Because scent and taste are closely related, if I have a wonderful homey scent in the kitchen (vanilla, cinnamon, apple), I can almost taste baked goods. And if there is an unpleasant sound (traffic, the neighbor’s dog), soft music makes it much less noticeable.

My home or my client’s home, living or preparing to sell – they really are the same thing!

Ann Anderson is the owner of Rooms Reborn ( www.roomsreborn.com ), a decorating, staging, and redesign business serving Connecticut. She is also the founder and Director of the School of Interior Redesign( www.schoolofinteriorredesign.com ). a private occupational school teaching staging, decorating, redesign, feng shui, and working with relocating seniors. She is also the co-creator of the Ready2Sellin30Days system which is designed to help do-it-yourself home sellers prepare their homes for sale with less stress.

An important aspect of either selling a property at its full value or purchasing a property at less than its full value is having an accurate real estate appraisal. However, you should not think that an appraisal is a full picture of a property’s market value. The primary purpose of a real estate appraisal is to assure lenders that the property for which the loan is being secured is worthy of the loan amount.

In most cases, the lender will have a specific appraiser assigned to properties in your area. In some cases, you may be able to choose from a list of appraisers. The more comfortable the lender is with the appraiser, the more quickly a loan application will be processed.

A good real estate appraisal will have full details of what aspects were considered in the evaluation of the property’s value. Generally, it will include local real estate sales data, property features data, and an estimate of how long it is taking for similar properties in the area to be sold. The property features may be expanded to include special improvements, unique architectural characteristics, and the quality of road accesses. If the property has private road access, the lender will sometimes require an agreement on maintaining the private road.

A common mistake is thinking of appraisers and inspectors as being synonymous. In fact, these two have very different jobs. What they have in common is that they look at properties. However, instead of trying to determine the value of a property, an inspector tries to find flaws with it. So remember that inspectors are there only to figure out whether the properties meet codes or have damages, while appraisers are there to figure out what the properties are each worth.

The value assigned by the appraiser is typically determined by taking into account the prices of similar properties in the area that recently sold, discounting the property for any needed repairs or code upgrades, and taking into consideration any considerable revenue generation characteristics the property may have. Generally, the appraiser’s fee will be known in advance. Be wary of appraisers who cannot give you an estimate. However, if the lender has chosen the appraiser, the appraiser will have to be paid for the transaction to be completed using that lender’s funds.

Finally, it should be noted that a real estate appraisal may be necessary in situations other than the selling of a property. When an estate that includes property is passed on to multiple individuals or when property taxes are being calculated or re-calculated, a real estate appraisal is required.

As a nationwide real estate appraisal management company, Collateral Management offers valuation services by certified real estate appraisers. Visit CollateralManagement.org for more information.

Copyright © Sherry Ann Smith

Getting a new house is not an easy task to accomplish considering the high prices and the various procedures needed to be carried out to buy a house. A new buyer will find it very difficult to understand all the concepts involved in the real estate business that are relevant for buying a new house. It is important to get a hang of all the technical terms in order to completely understand the financial and legal matters involved in buying a new house.

There are various sources that will provide you with a guide to the different terms used in real estate business but understanding all the concepts in detail will take some time. It is not always possible to get all the information related to this area since there are too many variables involved in real estate. Some of the terms and their description are provided below for your understanding so that you can be aware of the major terms and their importance while making real estate deals.

Appraisal refers to the process of evaluating the value of a property. This will help you determine the actual value of the property you want to purchase for building your home or making an investment for the future.

The smaller periods that make up the entire duration for which the loan taker plans to repay the mortgage taken on the house is known as amortization. This is the division of the total loan policy duration that can be referred to as terms. For e.g. a loan can be amortized for duration of 2 years to repay a loan taken for a period of 14 years.

The agent for the buyer works for the buyer through a real estate agency. It is common for buyer agency to get into a working relation that benefits both the parties. The buyer is assisted by the agent during the course of the duration as decided in the agreement. The agent gets monetary benefits if the buyer agrees to a house deal through the agent.

A mortgage is essentially a house loan for the property that you aim to purchase. This is done by providing the deed of the house to the financial institution.
The agent of the seller is one that works for the benefit of the seller. The focus of the agent in this case is to sell the house that belongs to the seller.

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If you’re a real estate professional looking to get into the REO industry, it’s important to learn how to get REO listings. This article will teach you the fundamentals of how to get started as an REO professional and list REO properties from banks. REO stands for “Real Estate Owned,” which is a term that is given to real estate that has already been foreclosed on. The bank has regained possession of the property and is looking to dispose of the asset or sell the property. After the bank takes possession of the property back after the foreclosure sale they will select a real estate agent or broker to oversee preparing the property for sale and the selling process of the property. A real estate professional who knows how to get REO listings can then use their knowledge of this process to be the one who earns the listing from the bank.

How To Get REO Listings – Process Overview Let’s overview the process before getting into how to get REO listings.

Once the property has been assigned to real estate agent and broker they will coordinate and oversee preparation of the property for sale, which includes:

>     Getting the Appraiser who is ordered by the bank access to the property
>     Getting the second BPO agent access to the property
>     Rekeying the property and installation of a lockbox
>     The trash out, which includes removal of all trash from the property and cleaning of the interior.
>     Cleaning the yard and arranging the monthly maintenance of the yard.
>     Any maintenance the bank or lender would want performed.
>     If there is a pool, Installing a cage over the pool for safety.

After these tasks are complete the bank or lender will compare the two BPOs and appraisal to determine the price at which they will instruct the agent or broker to list the property. In some cases the agent or broker will be initially responsible for these expenses and will be reimbursed in 30-60 days.

OK, now for the good stuff: how to get REO listings!

I recommend that you build a BPO, or Broker Price Opinion, business before pursuing REO listings because getting into the REO business can be challenging – especially if the agent or broker has no experience in the BPO REO industry. Building a BPO Broker Price Opinion business first is important because the agent or broker will be making money and gaining experience at the same time. The companies that order BPOs sometimes handle REO listings as well, so by building a good reputation with the BPO companies by competing your orders on time and completing orders properly, you will avoid having REO listings kicked back for corrections. In other words the key to “how to get REO listings” is through completing BPOs (Broker Price Opinions).

How To Get REO Listings from Fannie May and Freddie Mac Real estate agents and brokers can apply to be an REO agent for Fannie Mae and Freddy Mac, however; I would not recommend doing that until the agent or broker has gained some experience with how to get REO listings. The most important thing to remember is that you must ALWAYS be on time and accurate with all tasks to both BPO and REO companies.

Once the agent or broker has experience and a good reputation with the BPO companies they can leverage their good relationship and understanding of how to get REO listings to not only use as a referral but get the contact information for the REO Asset Management Company who is handling the listings for the banks and lenders. The agent or broker can also contact the REO asset managers to solicit listings, but I must advise you to proceed with caution with this method because the REO asset managers are overworked and underpaid, so you must use the “Law of Reciprocity” approach to have a chance.

For more information and training on how to get REO listings, visit the BPO REO Academy.

Robb Krzyston invites you to receive a FREE copy of his BPO REO Handbook a 40 page manual!
http://www.bporeoacademy.com
Robb is a licensed Realtor with RE/MAX Elite in Cocoa Beach, Florida who has completed over 6,000 BPO’s and counting and has been associated with over 200 REO transactions.

Home is the most precious possession that you own. It is not a mere financial investment. It is also bound with an emotional attachment. At times certain circumstances force you to sell your precious asset. Some of these situations can be the need to settle a bad debt, due mortgages, financial problems etc. If you are feeling financially challenged due to any such situations, fast house sale can be one of your solutions. One of the major reasons for house sale can also be shifting to a new city. It makes no sense to own a house in a city where you will not live. There are many reasons that can lead you to fast house sale. It will help you to fight your present financial woes.

There are many ways that can lead you to fast house sale. There are many reasons which can lead you to sell your house as soon as possible. At the same time, there are many companies who offer to purchase your property fast. When you are in such situation where you require money soon, there are high chances that you might make some hasty decisions. It is important to keep your cool and look for an appropriate property buyer. Try to find the agencies that can help you out to make a right deal. The decision of property sale is not an easy one; there are a lot of factors to be taken care of. After considering all the options available, you should analyze them and later come to a sane conclusion. There are many ways that can help to sale the house. If you want to sell your house quickly, you will have to make it look appealing. It is important to take care of the condition of the house before selling it. A beautiful and well maintained house will be sold easily as compared to a less maintained and less appealing home.

You need to be careful while dealing in house property. Verify the reliability of the dealer before selling your property. There are many forge dealers who cheat their clients by offering them less price. Before finalizing the deal, it is important to research in order to get the right property prices in your area. Property matters involve legality hence it’s important to keep a check on the law related to real estate. It’s important to check whether the buyers are credible and will make the payment as soon as possible. Fast house sale is not an easy task. You need to take care of every minute detail. You need to have faith on the firm you are dealing with. There are many sites on internet that provide you with such information. You can find the right firm to deal with on these sites. They offer a quick deal with maximum return. It can be the most convenient way of fast house sale. If you too are planning to sell your house, you know where to look for.

Karina Michlin is the author of this article on Fast House Sale. Find more information on Fast House Sale here.

Buying a property is not that difficult to do, however to purchase it at a discounted price is another story. There are a lot of ways to achieve, especially a house to flip. The most usual method would be asking a realtor for a multiple service listing (MLS). Though this may be the easiest way, it is not really most efficient. The catch is, every house flipper is doing the same thing.

You may find yourself in a difficult position if you will be competing with investors who buy homes for leasing and/or long term investments. Because of the fact that these investors do not have a plan to sell or renovate the house after the purchase, they can afford to buy the property at a higher price. They have a clear advantage of winning the bid for the property that would have been ideal for a house to flip.

It is essential to make numerous offers if you are planning to use the MLS. Focus on the list you have selected and make it fixed as much as possible. Also, you must not get too emotionally involved in a house or purchase it at a high price just because you are looking for a house to flip. Bear in mind to offer at a low price so you can make enough profit.

There are various methods to find a house to flip. Keep your eyes open for signs, mail outs, newspaper ads, open houses, or just drive down a residential area. You may also search for distressed homes, the ones that the owner is anxious to sell.

You should be determined if you are decided to do house flipping. There are months when you will find at least two or three houses. Some months, you may be lucky to find at most one house to flip. Remember to continually build new leads, though not all of them will work out. There may be sellers who will be convinced and enthusiastic, some won’t. Never get dispirited, you just need to learn to get on with it.

When you have found a house to flip, work on it quickly and improve it at a minimal cost. Look for or contract with the cheapest labor as much as possible. The improvement does not necessary mean you should tear down walls or remodel the house. The key is to “accessorize” it, meaning make the house look better without making you shell out too much money.

Pricing the house is essential key in gaining enough profit. The price should be attractive to the buyers. Do not make the asking too low or too high. Sell the house for a considerably higher price than when you purchased it. It is a fact that we risk without knowing the outcome.

There are always failures before reaching success. To invest in a property and flip it is a risky move. There may be times when flipping becomes a flop, some investors may be discouraged to go on, but for the ones who obligate to it, house flipping will be a stable way to achieve financial wealth.

Claud Pearce is an active real estate investor based in Cincinnati, Ohio. He is a member of the Greater Cincinnati Real Estate Investors Association and works exclusively with investors who want to grow, learn and succeed at real estate investing. Get more information now at http://www.cincinnatireia.com.

The history of real estate is tightly tied with man’s quest for settlement and his constant search for a permanent home. It started back during pre-historic times of the tribal system and started to take shape during the feudal system where tenancy and taxes began to predominate. Back then, peasants and merchants bought, rented or sold properties under the nose of the royal class. When aristocracy was put to end in most areas of the world, the system of renting and taxation was put in the responsibility of politicians. Title lands came into existence, and lands were sold in what seemed like a free market in favour of merchants and citizens with money.

The idea of mortgages also existed way, way back and there is no particular country that its history can be traced to. Initially available only to the noble class, the industrial revolution effectively equalized the system as the wealth of the world became even. This was when mortgage loans began to be granted even for common people, who then were able to own and build homes for themselves.

In the United States, the idea of organized Real Estate came to be in the late 19th century. The National Association of Real Estate Exchanges was founded in 1908, which sought to unite those in the industry for the purpose of unifying efforts for the interest of real estate. It was in the early 1920’s when various states adopted real estate licensing laws. About a decade after that, America experiences the great depression which led to the collapse of the real estate market.

However, a few years after, the industry regained back its prowess. The National Housing Act was enacting in 1934, which created the Federal Housing Administration. The industry experienced steady development in the years that followed, with the concept of condominiums introduced in the 1950’s.

In the 1970’s, there came about a significant increase in housing prices which have made it difficult for ordinary earners to own their own homes. At this time, inflation hit more than 20% and home loan interest rates were as high as 18%. With the fall of the Berlin Wall in 1989, the industry took a turn (as did the rest of the world). This brought forth a positive trend in the real estate industry and soon after, more and more investors staked money in the industry and there was no turning back.

Today, the development industry still undergoes its ups and downs. The risk involved in real estate continues to be there. However, with the years, real estate companies, banks and lenders have sought to make property ownership easier for Americans. Property is now seen as an investment that you can buy, rent, sell or trade. There are laws that govern these transactions to protect the interest of property owners, tenants and buyers. The power to own properties – which then was available only to tribal leaders, kings and landlords – is now ours. And that makes all the difference.

The author of this article has expertise in Austin Texas homes. The articles about Round Rock homes for sale reveals the author’s knowledge on the same. The author has published many articles in his Austin real estate blog as well.

While you are reading this, there are more than three million people in India employed in property brokerage and leasing profession. These are in addition to those who work with housing finance companies, who are not counted as real estate professionals even though they too influence deals in this business.

Indian housing sector is today the second largest employer in the country and 269 industries are dependent upon this sector-such important is the role of real estate in the entire economy and brokers are considered the backbone of this important industry.

Real estate brokers, also known as advisors, consultants, agents etc. in day-to-day language, grow with the development of the economy. They advise people and influence decisions that shape the way we live and work. They initiative and close real estate deals and are the most important link in the real estate business chain.

A career in property broking is personally highly rewarding, ever-changing and challenging. Property consultants are known for making huge money which, with the growth of this business in India, made this profession highly lucrative and glamorous. However, this profession requires you to have certain knowledge, personality traits and skills in order to grow. Someone without this knowledge, traits and skills, may not be able to pull off.

Therefore, before taking the final decision to start your career in this profession, find out if you have the right potential.

Nature of job:

Property agents and brokers are usually independent property sales professionals who associate with many builders and developers to promote and market their existing as well as proposed properties in exchanges for a commission on per unit sale. Property brokers specialize in different types of real estate such as residential real estate, commercial real estate, retail real estate, industrial property, land etc. among many others. However, in India very few brokers have specialized in one particular segment. Most of them deal with all the available properties.

The Role:

You are an expert in sale and purchase of different types of properties. As an expert, you advise your clients about purchasing properties. Similarly, you advice investors about the right time, opportunity and location to invest into real estate. On day-to-day basis you deal with walk-in enquiries and call potential home buyers from your database. You also generate leads of potential buyers thorough various online and off line activities. You also attend seminars and exhibitions and sell face-to-face.

Skill sets required:
People skills- Very High
Client focused- Very High
Self-starter- Very High
Negotiation ability- High
Sales skills- Very High
Communication skills- High
Computer Skills- Medium to Low
Analytical skills- Medium
Creative ability- Medium
Self-Initiative- Very High

Hours of working:

Like any other entrepreneur and self-employed person, you do not have a set working time when you start your own broking firm. You need to be present, whenever there is a call that requires your presence. Remember, if you are not there, your competitor will be there because Indian property market has become highly competitive. In this market, you need to have a better professional approach to survive as well as grow. This is a full time job and in most of the cases you need to work even at odd hours.

Internet Resources:

• Real estate jobs: Naurki.com; http://www.naukri.com/
• Real Estate Courses for Brokers: EduMark Realty Education Services; http://www.edumarkindia.in/

Compensation:

Income in this profession depends totally depends upon the level initiative and input. The more you work, the better the income will be. Infact some of the wealthiest people in the world have made it in this market. Remember if you are in broking profession, you do not have a fixed salary but you get a commission on sale of each unit. So, even if you are able to sale one unit of property every month, priced in the range of USD 5 million, your monthly earning would be approximately USD 0.01 million. But remember you have office establishment and fixed cost every month.

S.K.Jha is a senior real estate professional with particular interest in the Indian property market