Real Estate What Makes for a Great Agent Website

In today?s market it is important for an agent to have a website that caters to the needs of the consumer. This means that a website needs to go beyond the old rule of providing just the pictures, size, style, and price of a home. The agents website today needs to have more information and links to the communities they serve. It should have information about the city/town, local newspapers, libraries, schools, public transportation, and shopping. If you find an agent who includes this kind of information on their website, you probably have an agent that is current with today?s technology and is thinking about the customer?s needs instead of his needs. One more thing, if you are a first time homebuyer make sure the website has free articles that talk specifically about your needs

You should be concerned if your agent does not have a website. It can mean:
1. S/he is new in the business or refuses to accept change
2. S/he may not believe that the Internet is important.
3. S/he is afraid of technology

If you are planning to buy or sell property in Massachusetts in the next 12 to 18 months, or you?re just curious, check out http://www.ricks-ma-home-buyer.com

Rick is a member of the Real Estate Cyber Space Society and the Massachusetts Association of Realtors, Technology Committee. He has also been an active traveler on the Internet Highway for more than 15 years.

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Property Abroad What's it All About?

What's it all about?

The past 4 - 8 years have seen a tremendous increase in the interest, purchase and hype of buying a property abroad. The late 90's and early part of the 21st century has seen house prices surge in the UK to record heights, this together with the ever increasing coverage of the low cost airline destinations has given the average man in the street the excess equity in their existing homes and easier access to be able to think about buying and perhaps living overseas.

We've probably all been on a foreign holiday to some exciting destination, be it Europe, The Americas or even further afield and admit it whenever we've seen a local estate agent we always make a beeline for their shop window if not to compare the prices to back in the UK then certainly to see how and what we could afford - we've been doing it for years without really considering the possibilities.

4 years ago the number of properties owned by people from the UK hovered at around 170,000. Now there are over 1million Brits owning second homes in Spain and France alone, and figures from the Office for National Statistics recently revealed that around 200,000 Britons travel abroad every year in search of buying a property with the intention of staying for a minimum of 12 months.

The main question we at property-abroad.com are asked by investors and holiday home seekers is where should we buy? A difficult question to answer because every person's idea of owning an overseas investment or holiday property is completely different. We have a selection of questions that we ask client to consider when thinking of buying abroad which include:

?Budget - how much do you want to or can you spend. Do you need a mortgage or finance?

?Location - is location important for you? Beach, countryside or town?

?Use - personal for holidays or purely investment or a bit of both?

?Access - is getting to your property easily and cheaply important to you?

?Employment - will you need to work what is the employment situation?

?Schooling - do you need to consider such things as schooling for your children?

?Size - will a one bed apartment be big enough or do you need to consider a 4 bed town house or villa?

?Rentability - is it going to be a necessity to rent your property out to help with mortgage payments?

Although we have over 300 different websites and feature over 50,000 properties for sale in over 45 different countries abroad no two enquiries are ever the same and as such we treat each enquiry on a personal basis. We feature properties for sale directly from local estate agents and developers in every country.

What about the legalities

Buying a property abroad can be relatively straightforward - there's nothing really complicated as long as you follow instructions and use a reliable legal representative - whether they are from the country concerned or from the UK - it will make you feel more at ease and will help things to run smoothly. We feature various guides and books on buying property abroad on our website and apart from various little peculiarities in certain countries most overseas property purchases can run smoothly.

Mortgages

Financing your overseas property is a lot easier now than it was a couple of years ago. Mortgages for buying property abroad can be arranged through high street banks like the Abbey National, Nat West and Barclays. However, you may need to look at specialist lenders for new and emerging countries like Turkey, Bulgaria, and Croatia etc. Consideration should also be given to obtaining a mortgage in the country that you are buying in - things like euro mortgages can often work out cheaper than UK lenders but be aware of the changing exchange rate. Typical loan to value %'s can range from 60 - 80% depending on the country.

Insurance

As with all major purchases insurance must play a part in your overall budget plan. We would strongly recommend that adequate property and contents insurance is taken out to cover your investment as it grows. Although you don't anticipate any problems arising with your new home you certainly want to ensure that your investment is covered against loss and damage. Although there are a number of UK based companies that will offer Overseas Property Insurance - you will also find that there are local companies able to offer similar coverage in each country.

Most of us here in the UK are already home owners and there exists a continuing strong demand for our little piece of England. However, there exists a growing sector of young people who are unable to climb on the UK property ladder because of the high cost of entry property prices and as such are entering the overseas property market as a means to secure some foot holding on an emerging property market.

A Place in the Sun - Channel 4's property programme recently compiled their list of the 20 best places to buy a property abroad for investment purposes. To refresh your memory we have included those destinations below in ascending order from the best to the least projected returns on investments.

Romania - Poland - Portugal - The Baltic States (Latvia, Lithuania, Estonia) - Sweden - Belgium - Slovakia - Sweden - Finland - Hungary - Luxembourg - Germany - Czech Republic - Ireland - Austria Netherlands - France - Italy - Spain - Cyprus

With over 45 countries covered in our overseas property database prices of properties for sale in the areas above can range from a plot of land in the Bahamas from ?2000 right up to a country holiday complex in Tuscany for over ?33 million. Typical property prices in the likes of Romania stand at around the ?10-15,000 mark for a decent property in the outlining areas whereas ?5,000 + will get you a rural property requiring renovation and upwards of ?30,000 will buy you something very near to the city of Bucharest.

Our Tip

The property market in Poland is our tip for rapid future growth as we consider the country to have the best prospects of all current EU members. There are a huge number of international companies, such as Tesco's and GSK, beginning to set up offices, shops and warehousing in the country - this together with over EUR70 billion of European funding earmarked for the country over the next 8 years or so can only indicate the anticipated growth in employment, housing and infrastructure. Together with our Polish partners we are currently busy identifying new opportunities within the country and will soon be marketing off-plan developments in Poland throughout our massive infrastructure of websites.

As we become more and more daring in our ventures of overseas holidays then the great British public will continue to conquer new and exciting areas of the globe in which to lay their foundations of a holiday home or indeed a permanent residence abroad. Whatever your reasons are for considering a move abroad then remember there's only one company out there that can offer access to over 30,000 properties for sale worldwide www.property-abroad.com Tel: 0870 720 3210

Les Calvert - the Director of http://www.property-abroad.com often writes articles and information on the overseas property market. Visit their site with useful information and properties for sale all over the world http://www.property-abroad.com/locations

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How to Terminate the Real Estate Contract

A real estate sale is usually initiated by an offer from the buyer to the seller, written on a real estate contract form, and backed by a monetary deposit. If the seller accepts the offer, the buyer and the seller are bound by a legally binding contract. While the forms vary by locality, the essential terms include the offer amount, legal description, names of the parties, and date of closing. In addition to these terms, the contract interweaves numerous contingencies, disclosures of information, and procedures that dictate responsibilities of buyer and seller. The contract is the road map that takes you all the way through to closing. It is very important to understand its terms and follow them carefully. If it becomes necessary to terminate the contract, your close adherence to contract terms and procedures is critical.

Loan Contingency

Your contract may contain a provision that the buyer must be approved for a specific mortgage loan and interest rate. If the mortgage cannot be obtained within the prescribed time, the buyer may terminate the contract and receive a refund of deposit. If it becomes necessary to terminate under this contingency, you should be prepared to document that you took prompt action to obtain the loan, received a written rejection, and gave notice to the seller within the time limit set by the contract.

Termination based on credit disapproval is likely to cause anger and disappointment on the part of the seller. The seller may feel that he has been misled into signing a contract with an unqualified buyer. When anger and strong emotions enter into the transaction they may lead to difficulty in resolving the termination.

Title and Survey Review

Contracts usually provide a title review period for the buyer. The buyer may object in writing to defects noted in the title documents. If title defects cannot be cured, you have the right to terminate.

In the same vein, the buyer usually has the right to review a survey of the property. If construction is found to overlap building lines, or if there are encroachments on the property, you may choose to terminate your contract. It is worthwhile to promptly consult an attorney if you have some concerns about the title documents or survey. Your objection to title or survey problems must be made in writing within the time frame allowed by the contract.

Review of Seller's Disclosure

In Texas, sellers (with some exceptions) are required by law to provide a seller's disclosure notice to the buyer. On this form, the seller answers questions and provides information about the property. If the buyer receives the form after the contract has been created, he may terminate the contract within a certain number of days after receiving the seller's disclosure. The receipt date of the disclosure should be documented in order to establish the start date of the review period. Be careful to avoid confusion about when a time period starts running.

Mandatory HOA Review

In areas where there is a mandatory homeowners association, the Texas contract allows the buyer a period of time to review Subdivision Information. This information is normally supplied by the HOA manager after the contract is created. After receipt, the buyer has the right to review the documents, and possibly terminate the contract. Again, the termination notice must be given within the time limits in the contract.

Inspection Contingency

Contract procedures to allow the buyer to conduct inspections of the property vary from region to region. In some areas, the buyer may terminate if repairs exceed a pre-agreed dollar amount, and seller declines to make the additional repairs. In Texas, the buyer is allowed an option period, during which time he has the unrestricted right to terminate the contract. Inspections are done within the option period.

Inspection issues are the most common reason for contract termination. During the inspection period, there is usually some re-negotiation of the price or terms in order to resolve repair issues that have been brought up by inspections. It is crucial to get inspections done, deliver repair requests, and negotiate contract amendments, or, if necessary, terminate the contract, all within the time guidelines set by the contract.

Contingency for Sale of Other Property

In some cases the buyer may have a contingency for the sale of a certain property, usually the buyer's current home. If this property does not close by a certain date, the buyer may have to terminate. As with other termination procedures, giving notice to the seller within the required time is critical. By allowing this type of contingency the seller has accepted the risk that the contract may not close.

Lead Paint Contingency

Federal law requires that sellers of homes built prior to 1978 notify the buyer of any knowledge or inspections that they may have regarding lead paint. The buyers are allowed a period of time to review materials and conduct their own inspections. If lead paint is found, the buyer may terminate the contract within the prescribed time frame.

We have touched on the most common termination clauses in standard real estate contracts in Texas. Contracts used in other states, or provided by builders for new homes, or written by an attorney for a particular transaction will vary greatly in the contingencies and terminations clauses included. In addition, there may be ways to terminate your particular contract, other than through contingency clauses.

The important thing to remember is that the contract of sale is of primary importance to the real estate transaction. If you follow the terms of the contract and act within time limits, you may exercise the termination rights that the contract contains. If you fail to follow the terms, most contracts state that you have waived the right to terminate.

After you have given the seller notice of termination, two closely related steps must follow: The parties must formally terminate the contract, and the earnest money deposit must be released. If the buyer and seller agree to the termination, their agreement is usually formalized by signing a termination form. In Texas we have an earnest money release form that handles both steps - it releases the parties from further obligations under the contract, and instructs the escrow company to give the deposit to one party or the other. It is usually in the best interest of all parties to resolve the earnest money and contract termination issues as soon as possible.

If the buyer and seller cannot agree that the contract is terminated, the matter could lead to prolonged negotiation and possibly, litigation. In most cases, it is in the seller's best interest to have formal termination of the contract, freeing him to put the property back on the market. However, occasionally, even when it is clear that the buyer has followed contract procedures, the seller may prolong the formal termination process. The seller may want to receive compensation from the buyer for the delay in selling the property. Buyer and seller may have conflicting points of view of the issue. The non- settlement of termination issues can result in additional time and money, and cause unwanted stress.

Most buyers do not enter a real estate contract with the intention of terminating. However, buyers must not take for granted that all will go as expected. If a contingency date lapses, you will lose the benefit and protection of the contingency. A good Realtor, in addition to helping you find the property, can be invaluable in helping you to meet your obligations under the contract and, if necessary, exercise your right to terminate.

Disclaimer: This article is provided as a service to the public. Nothing in this article is intended to serve as legal advice, or as a substitute for legal advice tailored to your specific situation and jurisdiction. If you have a question about an issue discussed in this article, you should consult an attorney directly.

Roselind Hejl is a Realtor with Coldwell Banker United in Austin, Texas. Her website - http://www.weloveaustin.com - offers homes for sale, market trends, buyer and seller guides. Let Roselind help you make your move to Austin.

Austin Texas Real Estate Guide

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Triple Net Lease: Own A Property? Get The Maximum Out Of It

A triple net lease designates the tenant or lessee as being solely responsible for bearing all the costs related to the asset being leased. The landlord and the tenant come to an agreement where the tenant agrees to pay all taxes, insurance and miscellaneous expenses on the property in addition to any normal fees that are expected under the agreement. The concept of Triple Net Lease has been very popular in commercial building leasing because it reduces the owner's need to worry about spending time and money for monitoring property conditions and providing maintenance.

The basic idea of a net-net-net lease is for the lessee to assume responsibility for all property's expenses, both fixed and operating. The concept is well accepted and employed in all traditional sale-leaseback transactions for long-term lease of larger properties. Both the owner and the lessee agree upon a lease document stipulating that the tenant bears the operating responsibility for the property. In recent years the triple net lease has become increasingly popular for leases of smaller properties. While there are many versions, triple net typically includes Taxes, Insurance, and Maintenance (TIM).

In a triple net lease, the rental component is separately identifiable in the lease, making the actual net investment return clear for property owners and investors. Unfortunately there are several pitfalls for the smaller property owner in regards to leaving the insurance of their building to the tenant. The tenant may willfully damage the property in order to claim insurance while experiencing financial troubles. In such a situation the owner will lose all claim to the insurance and has no fall back to claim losses against the tenant.

Most triple net leases require the lessee or tenant to cover costs to maintain the roofing, heating, etc.- practically anything related to the building that can wear out or be damaged during the lease period. If you are in a triple net lease agreement you will be excused of all property taxes and property insurance liabilities. You will be responsible for paying your utilities directly. You can budget your personnel expenses and costs for routine maintenance and secure a quote for a maintenance contract.

There are a number of important issues to be considered before entering into a triple net lease agreement, including cost of capital, future operating performance and relationship with the building. All parties in a triple net lease arrangement need protection against surprise expenses that can occur as the facility ages and components wear, requiring maintenance and eventual replacement. Some owners reduce their risk by establishing a reserve fund into which each tenant makes regular payments. The owner then covers property maintenance costs as needed from this fund. As tenants come and go, the maintenance fund is constantly replenished?with no surprise burdens for a single tenant or for the owner.

A triple-net lease via a 1031 exchange allows the investor to get even higher returns by deferring his/her taxes and thus increasing the overall internal rate of return. Various companies provide you with a quality selection of triple-net leased properties that are ideal for 1031 like-kind exchange investments. It is believed all interests are best served by regular inspections performed by independent professionals with extensive experience and expertise in evaluating and reporting on building conditions.

Christine is an expert Internet marketing professional with years of experience in various industries such as: Business, Finance, Real Estate, Web-Design and many more.
1031 exchange resources

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Buying or Selling Real Estate: Make Your Decisions Based on Your Core Beliefs

Before buying or selling anything you should first consult with your core beliefs. For instance if you were in the need of a new car and you felt that over the long run gas prices were going to trend downward and eventually stay low than gas consumption would not be an issue in your decision making process.

If you are in your 30's or 40's considering health insurance and the plan you are reviewing does not provide for prescription drug coverage, you have to ask yourself.....Self....am I more likely or less likely to need prescription drugs in my future?

This kind of base thinking helps you to make long term decisions.

What brings this topic up in today's blog is that I just traded e-mails with a person who lives in the Northwest, lets call him Tom. His concern is that the real estate bubble is about to burst and prices and values of properties are about to drop. Needless to say, if you've been reading this blog, we do not agree on this point.

Even though we do not agree we are both right, for the moment, based on our core beliefs.

Tom believes that the real estate run up has run its course and that the type of appreciation we have seen can not be sustained for the simple reason that if it went on who could afford a house? The price would soon out strip the general publics ability to buy. So his decision, for now is to wait. Perhaps for interest rates to come down, perhaps for inventory to go up, or maybe for home values to fall. In any case based on his core beliefs of today's market he has made a decision and is on a plan.

I understand that some may think I'm jaded, that my sole goal is to go list and sell more houses. That my job is to sell the idea of home ownership. To a degree this is correct. I think homeownership is one of the greatest things we have going for us in this country. I know that people in other countries would love to have the same opportunities that we have in the United States. We have choices of where we work, where we live, if and when we want to buy a home, if and when we want to start a family and when we do go to buy a home we have choices in style, price and almost an endless array of mortgage programs that allow even the youngest of us to be able to afford our first home.

Yes, over the past 18 months or so many markets have seen a double digit run up in values. Some of these areas may even see a roll back in the coming year. I think what sets the Northwest apart, for now, is the short supply of houses to meet the current demand by buyers. Even if our home values only go up by 8 to 10% this year, you are still way ahead of the game than if you were to choose to pay rent.

So, my answer to buyers who are considering whether or not they should buy would be....................YES! If you are going to be staying in the area for at least 3 years......buy now.

Interview and choose a good real estate agent, have them recommend a good lender, meet with that lender, get a good faith estimate. Choose a home that meets your needs and buy it. Because my core belief says that home prices in our area will hold due to increased government intervention it is becoming harder and harder to build, we are having more and more people who need homes and this is a pretty great place to live and bring up a family.

I live and work in Kitsap County Washington, which is across Puget Sound to the west of Seattle. I'm with a real estate firm by the name of Windermere Real Estate. My 4 partners and I own 3 offices; Bremerton, Silverdale and the Poulsbo office. The Silverdale office, which is the one I'm responsible for has 52 agents and I've been with the company since 1990. My goal is to help real estate agents become as successful and balanced as possible while assiting buyers and sellers in smooth real estate transactions. My web address is http://www.franklyrealestate.com and my blog is franklyrealestate.blogspot.com

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Sussex Farmland ? A Goldmine for the Land Investors

Sussex Farmland and Sussex agricultural land would appear to be the same commodity. Infect, they bear the same relationship as a Greenbelt and Greenfield land.

Sussex Farmland includes agricultural land. Another term used for agricultural land is 'bareland', meaning that is farm land for sale with no buildings or residencies attached. There is, for example, a difference in the price for 'bareland' and farmland. The RICS rural land market survey in 2004 showed that the average price of 'bareland' across the UK was just over ?7,000 per hectare, whilst the price of farm land was nearly ?10,000.

There are Sussex Farmlands for sale 'hot' spots in terms of demand. Unsurprisingly, the southeast has the highest percentage of non-farmer individuals wishing to purchase farmland. A staggering 75% of sales in the southeast during August to September 2004, where not farmers. 62% were private individuals or investors, 6% were Institutional Investors, 6% were developers and 1% were miscellaneous purchasers. Compare this with Yorkshire and Humberside, 65% of buyers were agricultural but still 33% were non-farmer individuals.

Apart from being a heaven for investors Sussex Farmland is known for its beautiful historical buildings as well. The historical buildings are not just old houses or farm houses, many of them are old Palaces of Kings and Knights.

The author is a Land Expert based in the UK.

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