How to Make Money With Your Rental Property Investment

Writen by Joel Teo

Everyday in the investment industry a new course or newsletter is born promising you vast fortunes if you purchase their latest trading strategy or ebook. What most of them omit to tell you is that there is a vast gap between the level of proficiency that the gurus have in making money and the average beginner. Recently, Forbes magazine after an extensive study of all the various rich and wealthy people that they have in their list, realised that real estate and property investment remains as one of the best ways to become a millionaire or billionaire today.

Most people start their real estate investment after they pay off their first home and then start deciding how better to manage their funds and investments. This article goes on to explain three things you need to note if you decide to make a rental property investment for monthly cash flow purposes.

Decide on class of property

For first time property investors, most people will not have enough capital to invest in large commercial projects but do not be put off by this class of property investments. Some neighbourhood strips or shop houses may provide you with a better rental yield then say a residential property in a bad neighbourhood. The rule of thumb is to choose a property that you can manage.

The difference between commercial property and residential property is one of maintenance. While substantively the real estate law governing tenancy for both is the same, however practically there is a difference. If you have a commercial property, your tenant will usually repair and remedy any defects himself because they have a business to run and the property defect will look bad on them. Some residential tenants on the other hand love to run to the landlord for the slightest leak and this can be a hassle. Thus spend some time considering what class of property you wish to acquire and then focus on shortlisting suitable properties.

Decide on the amount of financing

Depending on the state that you are in, you might want to make a trip to your mortgage broker to figure out how much leverage you can get on your property. The more financing that you get, the more your return on your investment will be because you are using less of your own money to control more real estate.

Some states have mandatory down payment laws that are meant to cool the property sectors in certain areas and may reduce percentage of financing that you can use for the property. Thus always spend some time to consider how much money you can afford for the down payment. Remember that if you should decide to renovate the property that you are acquiring, that will also cost money so always consider how much you have to spend before going around on your acquisition spree.

Analyze the rental - mortgage difference to get a positive cash flow

Most advocates of the cash flow investment concept will tell you that you must generate a good monthly cash flow from your investment. This means that the amount of money that you keep in your bank account each month from the rental after deducting expenses for taxes and mortgage instalment payments must be substantial.

There are those that love to purchase property based on impulse and feel for the property. This approach may not be wrong in itself, but should always be done after you do your maths and rental cash flow calculations. Remember to take into account the downside of the rental yield in a bad year especially if you are purchasing this property in a good year.

In conclusion, making a monthly cash flow with rental property is possible if you spend some time to do your homework before purchasing your next real estate investment rental property. Keep your eyes open for the next real estate bargain and it may come your way soon. Start taking massive action to achieve your real estate investment goals today and your dreams for a good monthly cash flow may start appearing sooner than you think.

Copyright © 2006 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)

Joel Teo is the successful Webmaster of http://www.RealEstateInvestment101.info Learn how you can make more money today from Property Investment today and start generating a positive monthly cashflow from your property investments.

Good Tenants Learn Twelve Ways Landlords Keep Them

Writen by D. Maurice

After you’ve found your tenants, how do you keep them? Establish a friendly, pleasant, business like relationship with your tenants, so they’ll want to renew again each year. By using one or a few ideas below, you will learn how to keep good tenants. The following are some suggestions that apply to residential landlords, landladies, and property managers.

1. Move in Gifts

Move in gifts are a nice way to welcome your new tenants. Place these gifts in the apartment with a red bow on them before the tenant moves in. A (plumber’s) plunger and a garbage disposal wrench, known as an Allen wrench, can work wonders for your tenants. Simple idea, right? These small, practical gift items will come in handy when the plumbing backs up or the garbage disposal stops working. Often overlooked, these items are not something people think of, but these move in gifts will save you time and money with fewer maintenance trips.

2. Welcoming Gifts

A welcome gift establishes a positive relationship with your good tenants. Present the gift after the first eight to twelve weeks of tenancy. As always, make sure the tenant(s) rent is current before presenting your welcome gift. This effective gesture shows the good tenant(s) you are a thoughtful landlord. A few examples of some welcome gifts are:

• Hanging flower baskets of petunias;
• Small potted flowering plants such as pansies; or,
• Small fruit baskets from your local grocery store.

Present your gift in person. These inexpensive gifts will surprise your tenant(s). And go along way towards building goodwill. This is also a good time to do a quick “look around” inspection. This way you can determine if the tenant is keeping the apartment clean.

Also, take this opportunity to observe any unauthorized move ins (e.g., a person or pet.) If there was, then politely address the issue immediately. Mail a written letter of notification acknowledging the unauthorized move in. A copy of the lease should also be mailed to the tenant. Anyways, you will be able to address concerns while you’re there, creating a win win relationship.

3. Renewal Gifts

Renewal gifts are small reward items of appreciation you may wish to provide to your tenant(s). A small incentive goes a long way. And you’re creating a positive relationship between yourself and the tenant. Here are the benefits of lease renewal:

• You don’t have to advertise for another good tenant;
• You don’t have to screen calls;
• You don’t have to show the apartment only to wait for no shows;
• You don’t have to build a new relationship with a new tenant; and
• You don’t have to educate new tenants about your do’s and don’ts.

Renewable gift suggestions:

• A gift certificate to a local restaurant;
• A bouquet of fresh cut flowers; or
• A special gift certificate from a local supermarket or gardening supply center

These renewable gifts range from $25 to $50. This amount depends on your budget. And, continues to build a positive relationship with your good tenants. Presenting a renewal gift in person demonstrates a caring attitude about your tenant(s).

4. Holidays

Holidays are a great time to acknowledge your good tenant(s). There are a number of holidays to choose from and depending on your time, schedule, and workload this is a personal choice. Generally, a trouble free idea is to send a non denominational holiday greeting card, letting your tenant(s) know you’re thinking of them.

Alternatively, such as a week before Thanksgiving, purchase a turkey as a gift, along with one you buy for your own family. This provides the tenant(s) with a nice Thanksgiving meal while saving you time and money. Either way you’re creating another win win relationship with your good tenants.

5. Emergencies

Communication and some well established rules are vital. Let your tenants know your property management schedule. For example, calls regarding minor problems, 8:00 a.m. to 8:00 p.m. during the week, excluding Sundays. Educating your tenants early is a necessity for your peace of mind. Following are examples of some real life non medical emergencies.

It’s 9:00 p.m. on a New England Thursday evening. The winds are strong and it’s snowing lightly. The temperature has reached 30 degrees below zero. The phone rings and our tenants are complaining they have no heat. Quickly, a call is made to the oil company. The oil delivery is made and this remedies the situation. The landlord follows up to make sure everything is o.k. Our tenants know even with freezing temperatures, we do care and act immediately.

Here’s another example, one of our tenants’ decided to use the laundry facility in one of our empty units. We approved her authorization to do laundry. While she was there, she discovered water spraying from underneath the bathroom sink. Already, two inches of water had accumulated. The bathroom and most of the surrounding kitchen is drenched. She called in a panic. “The water is spewing from underneath the bathroom sink,” she says. I was unsure what to do. I called my best friend, my husband, and he remedied the problem within two hours. The tenant did not have to call about this emergency. She chose to, demonstrating the importance of good, strong relationships with your good tenants.

6. Maintenance

Your property rental maintenance system will increase your real estate value and cash flow. Hence, you will be able to charge a little more rent for the up keep. When you’re scheduling maintenance projects for the year, make a checklist. Your checklist should include preventative maintenance; cosmetic, simple upgrades, and tenant renewals. Below are some simple guidelines for an effective property maintenance system.

Preventative:

• Replace the leaky toilet system;
• Replace worn out faucets;
• Replace a run down refrigerator;
• Replace an unsafe stove;
• Replace a leaky roof;
• Replace inefficient or a potentially harmful furnace;
• Schedule pest control care;
• Seal cracks to prevent loss of heat or pest intrusion;
• Clean or check the filter in gas heaters;
• Check air conditioning unit for efficiency.

Cosmetic:

• Cutting, trimming trees, flowers, etc.;
• Landscaping - for example, add crushed stone around the building for extra drainage;
• Painting - freshen up trim, walls, ceilings, floors, railings, lattices, and so forth;
• “Curb appeal;” planting flowers and shrubs, lightly washing the outside of the building.

Upgrades:

• Replace old, worn out carpet;
• Replace or install new floors;
• Add ceiling fan(s) to provide extra comfort during summer months;
• Add a microwave.

Renewed tenants:

• Repaint walls, moldings, casings, ceilings;
• Provide new window screens;
• For more ideas, see the long term tenants of 3 years or more section 10 below.

7. Drive by or Walk around Property Inspections

Throughout the winter months, you should drive by your property every two months. Particularly if you don’t live nearby. Other areas without snowy winters may require more or less property attention. During your drive bys or walk around inspections, look for obstructions on the front porch, on the deck or the entranceway.

And depending on your geographic location, pay attention to the condition of the property’s lawn, flowers, and shrubs. In the spring, summer and fall a monthly drive by or walk around is sufficient. Below is a list of items to check:

• Bees nest - If it’s small and you know you can remove it safely then do so. The best time to remove a bee’s nest is in the morning. It’s cold and the bees are not flying in and out as much. If you’re unsure ask the person at the local hardware store for help. Pick up a can of bee spray eradicator while you’re there. However, a professional pest control company is the easiest solution to remove the nest safely.
• Clutter on the front and back porches or decks;
• Water to the outside hose is turned off;
• Lawn is mowed;
• Do you need to paint the exterior of the house, steps, fire escape, garage, etc.?
• Do you need to tar or replace the drive way or roof?
• Observe any illegal or excessive activity by the tenants.

Are people going in and out of the property to frequently?

• If the tenant happens to be outside ask if they have any concerns or requests.

8. Walk through Inspections

Property inspections are a positive way to build strong relationships with your good tenants. Tenants who call with small problems are often viewed as pesky tenants. However, inspections performed quarterly or bi annually will likely make your tenants more comfortable. Good tenants prefer telling you their maintenance problems in person rather than over the phone. You can also correct most tenant problems immediately.

9. Death in the Family

Acknowledging a good tenants loss is a courteous and warm gesture. Send the tenant(s) a sympathy card, a bouquet of flowers, or a catered platter of food. This goes a long way towards building a long lasting relationship with your tenant(s).

10. Long term Tenants of Three Years or More

If you have developed a positive, respectful relationship with your tenant and they renew their lease, than consider their renewal a job well done on your part. Tenants who renew and have been in good standing with you over the last few years will appreciate some updated interior features. Below are a few ideas to make your tenant feel good while increasing your property’s value at the same time.

• Install new carpeting;
• Paint walls, casings, or ceilings;
• Add a used dishwasher or replace the existing one;
• Add a paper towel holder;
• Add a garbage disposal or replace the existing one;
• Provide new screens;
• Provide new light fixtures;
• Provide a new medicine cabinet; or
• Provide a new toilet seat.

11. Good Tenants Recommending Other Possible Tenants

Good tenants will gladly recommend other tenants because the new tenants will become their neighbors. Besides, your property is the tenant’s home and they are more apt to suggest helpful, pleasant, compatible neighbors. In addition, establishing a finder’s fee program is an excellent incentive to encourage your tenants to introduce you to responsible, prospective renters allowing you to minimize your advertising costs and the hassles related to finding new renters, while potentially signing on another good tenant.

Certainly, any finder’s fee program should be in writing, and possibly reviewed by your attorney, so that both the landlord and tenant understand how the program works, specifically how and when fees are to be paid. Retaining good tenants could create an endless pipeline of prospective tenants for you by your tenant’s word of mouth rather than employing traditional, cost prohibitive methods.

One warning: The same due diligence should be followed with any tenants referred to you by tenants presently renting from you so that you don’t run into problems later on.

12. Provide your good tenant(s) an Information For Your Apartment Form

The Information For Your Apartment Form is important when you or your property manager cannot be reached. Below is a list of subjects the form should include:

• Window areas;
• Appliances;
• Heat;
• Air conditioning unit;
• Security;
• Plumbing;
• Electrical;
• Floors;
• Rubbish;
• Walls and ceilings;
• Miscellaneous;
• Emergency phone numbers;
• Contact manager information.

You can view, the complete form at http://www.my real estate software.com/apartment.html, so you can keep your good tenants happy and prevent those annoying middle of the night phone calls!

As you begin to integrate these suggestions into the management of your property or properties, you’ll learn how to keep good tenants. When you respect, train, and show some generosity you will create a win win relationship for the both of you that can last over twenty years or more. Good luck and happy managing!

Article by D. Maurice. D. Maurice is the Webmaster of real estate software, my real estate software.com, a resource of Professional real estate Software for the Property Rental Manager, Landlord, Investor, Realtor. Real estate software used to Acquire It, Manage It, Market It, and Maximize PROFITS! Please visit her site for more free tips and software used to build your real estate portfolio.

Real Estate Investing: How Much Should I Pay For This House?

Writen by Lou Castillo

We probably answer this question for someone a couple times every week. The problem is that they don’t have a good formula for determining the most they can pay and still make a profit - so they’re scared to make any offer. Here’s what we use for single family homes:

The (MAO) Maximum Allowable Offer is calculated by first determining what the house will be worth after renovation the ARV (After Repaired Value); less the rehab dollars required; less the Buy/Sell/Hold (B/S/H) costs; less profit margins.

MAO = ARV - Rehab - B/S/H - Profit

So let’s break that down a little further. To determine the ARV, study comparable sales data. Comparable sales are those properties which sold in the last 6 months to 1 year, and within

1031 Exchange Experts

Writen by Josh Riverside

As far as the 1031 Exchange is concerned, it is the Qualified Intermediary who can be called the top “expert” who makes or breaks the deal. The role of the QI is crucial to completing the exchange successfully. It is he who acts as the “glue” that binds the buyer and seller of the property together in the 1031 Exchange process.

Selecting the right QI is most important, otherwise it will be like going to a quack rather than a qualified doctor for treating some serious disease. That means, a taxpayer intending 1031 must be cautious about falling victim to a poor facilitator with disastrous results, as he may not do an exchange at all or does not know how to structure it. And his deal will not pass the muster at IRS audit, leading to a loss of exchange funds due to poor investing or conscious deceit.

Care must be taken to ensure the credentials of a QI as a really experienced, knowledgeable professional who is clear in thought and communication, and transparent in dealings. As the exchange process requires quick decision making, only a learned facilitator can help and clearly understand the situation and use the options rightly.

What makes a good or bad exchange QI is his level of depth in knowledge and resources. He must be well versed with all tax code changes and latest rulings. Since the 1031 code has many gray areas, only an experienced facilitator can apply them to situations intelligently. To ensure safety for the money of the taxpayer, the QI ought to maintain a substantial fidelity bond for the benefit of their exchangers.

There are no licensing requirements for Intermediaries. No federal regulations for 1031 Exchange Experts are in place, and only two states have mandated licensing and bonding requirements for them.

To practice, they only need not to be stay qualified as defined by the Internal Revenue Code. Under certain circumstances, the Code prohibits certain ‘agents’ of the taxpayer, such as accountants, attorneys and realtors who have served the taxpayer in their professional capacities within the last two years, from becoming a Qualified Intermediary for the taxpayer in an exchange.

Once in the job, a QI, who is not the taxpayer and not a disqualified person, takes up the assignment and enters into a written agreement called an Exchange Agreement with the taxpayer, acquires the relinquished property from the taxpayer, transfers the relinquished property, acquires the replacement property, and transfers the replacement property to the taxpayer. The whole process involves several time consuming steps.

The written agreement between the taxpayer and intermediary arrogating the former’s rights to buy and sell, and hold the money or property to the latter, is to take advantage of the qualified intermediary “safe harbor” provision enshrined in 1031.

Thus the main obligations of the this middle man cum expert can be summed up as receiving the 45 day identification notice for replacement property and delivering escrow funds for replacement property settlement and arranging for direct deeding of the properties and ultimately providing the final accounting.

1031 Exchange provides detailed information about 1031 exchange, 1031 exchange companies, 1031 exchange experts, 1031 exchange forms and more. 1031 Exchange is the sister site of Greater Orlando Real Estate.

Shopping for a Holiday Home in the Sun

Writen by Rhiannon Williamson

At this time of the year when the days are short and the skies are grey, focus tends to shift towards the glorious summer months when we can escape the daily commuter grind and the realities of the 9 - 5 and take a couple of weeks out to lie on a sun drenched beach somewhere.

But why take just two weeks away when you could own a holiday home in the sun, vacation in it whenever you wanted to and even let it out for an earnings supplementing rental income?

If you’re one of the increasing numbers of people considering buying real estate for investment purposes, why not combine your investment with pleasure and buy a holiday home abroad?

Buying real estate overseas needn’t be a complicated or stressful experience; with this ten step guide to buying property abroad you’ll find the whole process a breeze and you’ll be lying next to your very own swimming pool soaking up the summer sunshine before you know it.

1) Country - you may already have had your perfect holiday overseas and know exactly where you’d ideally like to own a holiday home in the sun, if on the other hand you’re still undecided about which country to buy a second home in you should factor at least the following considerations into your country based research to determine which nation ideally suites your requirements: weather, property prices, accessibility, stability and things to do.

2) Location - having decided on a country the next challenge is to find the most suitable area of the country to target for your holiday home search. Think about whether you want to be close to the coast, inland, in a city, away from the crowds, in the thick of it or on a desert island.

3) Property Type - apartment, detached villa, bungalow or rural retreat - which property type suits you and also, if you’re thinking about renting out your holiday home in the sun, which type of property will be easiest to let?

4) Budget - how much money have you got available to you, how much money will be required in fees and taxes when buying overseas? Think carefully about how much of your budget you can allocate to buying a property and then stick to that figure, do not be tempted to over extend yourself as this could get you into difficulties and even prevent you from having the funds available to travel and holiday in your brand new property.

5) Assistance - because you’re buying in a foreign country you may encounter language barriers, different legal systems and a whole new buying process therefore it is wise to employ the services of a real estate agent and essential to secure the services of a lawyer who can guide and protect you throughout the purchase process.

6) Management - whether you intend to let out your holiday home or not you will probably require the services of a good management company to make sure your pool is clean, your roof never leaks and no one tries to break into your home. Take recommendations locally from other people who have their second homes looked after by a third party and don’t be afraid to ask a property management company for references.

7) Income - if you’ll be letting out your home in the sun for an income find out about any taxation you will be liable for on that income and also about any deductions you can take from your liability to reduce your overall taxation burden.

Investment - if you’re interested in holding property overseas for investment purposes look into the buoyancy of a market and ensure that the real estate market is capable of sustaining an investment property - some overseas real estate markets are stagnant and difficult to realize a capital gain from.

9) Insurance - because your property will either be vacant for long periods of time or occupied by people unknown to you it will be important to have insurances in place for the building and the contents.

10) Enjoyment - and last but not least, once you’ve secured your holiday home in the sun save as much money as possible so that you can enjoy your home as often as possible and for as long as possible! After all, you deserve the time away from work.

Rhiannon Williamson writes about real estate investment abroad and living overseas. To read more information about buying holiday homes abroad click here.

Home Selling Help: Should You Sell in As Is Condition?

Writen by Jeanette Joy Fisher

Home sellers often like to sell their home in "AS Is Condition." Selling a home in as is condition happens because the home seller doesn’t:

• have the money for repairs or upgrades
• know how to fix broken feature
• have time because of moving pressures
• lacks desire to work on the home because of personal problems.

If you’re thinking about selling your home in as is condition, think about your bottom line. If you sell a home in less than perfect condition, you most likely will sell to a rehab investor who will only pay you about 70% of your property value. That’s a steep discount for selling your home in its current condition.

Sell to home buyers who want to live in your home and you will make more money.

Most buyers make up their minds the minute they walk inside a home. Your curb appeal and living room are more important than the bathroom. However, if your home is for a first time home buyer, they usually have little money set aside to do repairs. These buyers don’t have experience owning a home so they get turned off by defects. Move up buyers look for luxury and upgrades. These buyers, usually working professionals, don’t have time to make repairs and expect perfection.

Exceptions to this occur in desirable areas with older homes. If you see many nearby houses being remodeled almost torn down then you might be able to sell your home based on location and property value alone.

You will sell your home for more money and quicker if you make repairs. Check and see if you have a ReStore near you. (http://www.habitat.org/env/restores.aspx ) The volunteers who manage Habitat for Humanity’s thrift store often have a working knowledge of construction and can guide you through the process. I’ve found the volunteers extremely helpful. Also, home improvement centers have free printouts on how to make repairs and replace fixtures. If you go at a time when they’re not too busy, the sales staff will help you with the supplies needed and do it yourself directions.

Many unseen problems can be fixed during escrow and paid for from the sale proceeds. You can also disclose the problem to the buyers and let them live with it or fix it themselves. Offer a home warranty with your sale so the buyers feel protected in case of future problems.

Home buyers choose the house that "feels most like home." Take a look at the type of buyers moving into your neighborhood and create a buyers’ "dream home." Spending a little time and money can make a difference in your closing check instead of selling your home in as is condition.

Copyright © 2006 Jeanette J. Fisher

Jeanette Fisher, America’s “Dream Home” Maker, helps home sellers with five ways to use interior design secrets to make more money selling their homes. Home Staginging Information and free home selling tips at http://sellfast.info

Buying a Home After Through Foreclosure

Writen by Luke Lu

There are many reasons for foreclosure and many people have faced it. In some cases, the foreclsure was simply an issue of poor money management. In others, circumstances took over. Medical issues, layoffs and other financial problems may have made payments impossible and foreclosure inevitable. For whatever reason, the deed is done and it’s time to start taking positive steps toward recovery.

Some people think that a foreclosure means they’ll never again be in a position to purchase a home. That’s not true, and there are even some steps you can take to get the process started.

First, realize that you’re not alone. Thousands have faced bank foreclosures and survived. This is serious, but it is possible for you to take the next steps and move on toward eventual home ownership again.

Next, you need to get copies of your credit reports to see what damage the foreclosure has done. If you had excellent credit before, you’re going to see a marked difference in your credit report after foreclosure, but don’t despair. Take time to carefully read your report. If you find errors, point those out to the credit reporting agencies that compiled the report. You’ve already got enough problems with your credit rating because of the real estate foreclosure - you can’t allow errors to stay on your report as well.

Foreclosures and most other negative credit information will remain on your report for seven to ten years. But keep in mind that many creditors don’t look at individual listings on your report, especially if those are more than a year or two past. Some only look at your credit score, which is a compilation of all credit activity resulting in a numerical score. That means that some creditors may be more lenient even after foreclosure if your score is good. Concentrate on getting that score back up. Apply for one or two secured credit cards as soon as possible after the foreclosure and start making regular charges and payments. Each of those will make a positive impact on your credit score.

Many people who have gone through foreclosure or bankruptcy can benefit from credit counseling services. Some agencies offer services at free or reduced rates and can help you negotiate payment arrangements for outstanding debts. Even if it’s too late to stop the foreclosure, this could help you with other bills. You could get your credit back on track much more quickly than if you simply let the process run its course.

One of the most important steps you can take toward owning your next home after you’ve gone through a foreclosure is to get your finances on track and start saving. You’re going to need a bigger down payment if you want to buy another house after your foreclosure. Make arrangements to put a set amount of money into savings every pay period. Create a budget that you can live with and that you can stick to - then stay with it.

If it was simply a case of poor spending habits that forced you into foreclosure in the first place, consider a buddy system. A spouse, parent or sibling makes a good “buddy.” Simply make a budget and then make a commitment that you’ll discuss any expenditures with your buddy before you make them. This has a couple of purposes - it makes you immediately accountable to someone else for your spending habits and forces you to take a step back before you spend the money. Often, you’ll find that you didn’t really need the item anyway.

Foreclosure may seem like the end of the world while you’re in the process. While it’s a very serious issue, you can recover. Just make sure that you pay attention to the old adage and learn from your mistakes.

BuyincomeProperties.com Best Place of Real Estate Investing Articles and Resources.

Memphis Real Estate

Writen by Jennifer Bailey

A montage of lively communities, Memphis is no longer the laid back port town it used to be. The downtown Memphis area is where the life of the city really is. Here one can find antique shops, restaurants, art galleries and coffee shops just a walk away. The downtown area is home to more than 23,000 residents a number that is steadily growing with the building of houses, apartments and condos in the area. Downtown Memphis is home to Beale Street, the celebrated “Home of the Blues.” Beale Street features a number of bars and cubs that cater to jazz, blues and rock and roll music. Then there is the Pinch District, which is home to cafes and bars that are frequented by local residents and tourists that are attending events at the nearby Pyramid.

Midtown Memphis has some of the city’s most pristine neighborhoods. Tree lined avenues are flanked by grand bungalows and apartments. Overton Park, located in the center of midtown, is one of the United States’ biggest urban parks. Some of the city’s numerous attractions are the Memphis College of Art, Memphis Zoo and the Overton Park Shell. Several universities and colleges augment Midtown Memphis’ diverse atmosphere. The neighborhoods include Vollintine Evergreen, Cooper Young, Overton Square and Central Gardens.

Most of Memphis’ high status housing areas, shopping and office centers are situated in East Memphis. The Memphis Botanic Garden, Audubon Park, Lichterman Nature Center and other public parks and gardens give a unique appeal to East Memphis. Chickasaw Gardens, for one, is full of elegant houses. The Pink Palace Museum and Planetarium lie adjacent to that neighborhood. Then there is Cordova, which is a rapidly growing community in the Metro area.

Shelby County, outside of the main city, boasts of a number of beautifully integrated cities and towns. These include Arlington, Bartlett, Collierville Germantown, Lakeland and Millington.

Neighboring areas that surround the city include Fayette County, Tennessee; Tipton County, Tennessee; Crittenden County, Arkansas; DeSoto County, Mississippi; Tunica County, Mississippi; Tate County, Mississippi; and Marshall County, Mississippi.

Memphis provides detailed information on Memphis, Memphis Real Estate, Memphis TN, Memphis City Schools and more. Memphis is affiliated with Downtown Memphis Hotels.

Seven Best Ways to Ruin a Buyer’s Visit

Writen by Hugh Harris Evans

You have decided to sell your house, have engaged the services of a Real Estate Agent or decided to handle the sale yourself and are just waiting for prospective buyers to call. Someone arranges to view but, after a quick inspection, they leave never to be heard from again. What went wrong? Here are seven of the best ways to put off your buyer.

1. A house that smells of cigarette smoke or animals does not provide a welcome to visitors. Stale cooking odors are also to be avoided. While you are used to your home and may not be aware of any odors, they will be immediately obvious to any visitors.

2. Family pets should be moved outside during a visit. Many people are afraid of dogs and not everyone is keen on cats or other pets.

3. Dimly lit rooms. Buyers like a light and airy atmosphere so all curtains and blinds should be drawn back. Turn on the lights as well if the room is naturally on the dark side.

4. Dirty bathrooms and kitchens are an immediate turnoff. Make sure that these rooms are spotless and all towels freshly laundered. All cooking pots should be put away and all clutter removed. This applies to all other rooms as well.

5. Poor decorations and worn carpets will give an impression of general dingeyness. Almost as bad is loud wallpaper which can be overpowering. While buyers can imagine how a freshly decorated room would look, it is far better for them to see the fresh paint when they visit.

6. Even worse than poor decorations is mould on the walls and damp in the basement. Apart from the visual disfigurement mould can also be the cause of an unpleasant smell.

7. Owners who hover while buyers are looking round. Unless you are showing the buyers round yourself, leave it to the Agent and make sure that all members of your family are out of the way, preferably outside, while the buyers are present.

Avoid these common mistakes and your house will provide a welcoming atmosphere which will increase your chances of any early sale.

Hugh Harris Evans is a writer and webmaster of Sell House Tips.com where you will find further articles and tips on How to Sell Your House http://www.sellhousetips.com/

Sell Your Home: What Do Home Buyers Want?

Writen by Jeanette Joy Fisher

A poll of potential buyers released March 1, 2006 by Maritz Research revealed that sellers ought to do more than just look after required maintenance before showing their home. In fact, decorating improvements help make a strong impact on buyers and can ultimately affect a home’s market value.

The study found that although renovations can boost a home’s sales price, sometimes too much unique style can decrease a home’s marketability. Therefore, if you’re selling a home, you should understand your profiled buyer and make changes that buyers in your price range and location want.

The study found that thirty six per cent of potential buyers were willing to pay premium prices for homes with updated interior decoration. Surprisingly, more men than women wanted updated decor with 41 percent of men versus 30 percent of women desiring this feature. More than likely, this is because women like to decorate their own homes and men want to move in without doing any work on the house.

When asked which home feature they would pay more for, 79 percent of buyers said that they would be willing to pay more for a renovated kitchen. However, most of these buyers did not want to pay for a remodeled kitchen in a style they didn’t prefer. Home sellers need to evaluate the cost of a kitchen renovation in relation to the expected price increase. Often, a though deep cleaning, painting in today’s color choices, and a new faucet combined with home staging strategies give home sellers the market edge without a large cash outlay.

The poll stated that 63% of buyers preferred a higher priced home ready to move into than a bargain priced fixer upper. Because home buyers are willing to spend more for the ideal home, but not the time or work to renovate a fixer, home sellers who take advantage of home staging can make their home feel like a “dream home” without undertaking major remodeling projects.

Although most buyers prefer a renovated home, the poll revealed that 65 percent of buyers expect to spend about $5,000 making their home suit their tastes and that only nine percent of home buyers would only buy a home that needs no improvements.

Consider your home decorating in your list of home improvements to get your home ready to sell.

Copyright © 2006 Jeanette J. Fisher

Jeanette Fisher teaches five ways to use home staging for a top dollar sale. Understand which changes give you the highest return on your exterior and interior decorating changes. Sell your home for top dollar with real estate staging. For more information about home staging, see http://homestaging.us