Fixtures

Writen by Martin Lukac

Fixtures, related to real estate, are items that were originally personal property but are now attached to the property itself. This becomes the toughest issue when tenants attach fixtures to a property. These fixtures may include shelves or anything that is immovable by law.

There are five tests of fixture:

1) Method of Attachment: Is it nailed, welded or bolted down? Or is it simple leaning against the building or hanging on the wall?

2) Adaptability: Is the item customized or can it be easily used in other building.? Wall to wall carpeting would be considered a fixture because it has been cut for a room of a particular size and shape, and the carpet is attached to a track strip that is nailed to the floor.

3) Relationship: Is relationship between tenant landlord, a buyer seller or borrower lender.

4) Intension: is indicated by action or agreement of the parties, weather it be expressed ore merely implied.

5) Agreement: Court will also look to the existence of any agreements between the parties. For example: Is he item mentioned in the real estate listing or purchase contract?

Exception to Fixture rule:

There are certain items that remain personal property after they have been affixed to real property.

If you rent to a business: These items are called “trade fixtures”. Example are shelves, counters, cash registers used by business but not sold to customers.

If you rent to an individual(s): Id tenant installs room dividers, shelves, it may or may not be viewed as personal property. In many cases fixtures may be removed by the tenant, provide that premises are not damaged.

Martin Lukac, represents, #1 Loans USA(http://www.1LoansUSA.com), a finance web company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more: info@1LoansUSA.com

Massachusetts Real Estate History Personified

Writen by Raynor James

Massachusetts is a state overflowing with history and yet oddly modern. Massachusetts real estate prices are very pricey.

Massachusetts

Massachusetts is an incredible mix of history and bustling modern influences. Historically, the state took in many of the initial European immigrants and was the location of crucial battles in the Revolutionary War. Throw in events such as the Boston Tea Party and you have a state with a heritage. While appreciating the past, Massachusetts also pays homage to changing times and is a hot bed for education, business and sports.

Boston

Tiny city. Perhaps you’ve heard of it? From colonial architecture to modern skyscrapers, Boston is an amazing city that deserves your attention. A favorite big city, Boston is unique for placing the old with the new. Statutes and old colonial influences sit below modern amenities such as the financial district. People watching is a prime hobby at places such as the Quincy Market and Boston Common. College influences can be found around Harvard University, Boston College and Boston University. Loafing, exploring and sailing are rife in Boston Harbor and the Charles River, not to mention crab caked galore.

If sports are your thing, Boston will be heaven. The Boston Marathon needs no introduction. For professional sports, you have the Bruins, Red Sox, Celtics and, just out of town, Patriots. Throw in a major college basketball, hockey and football influence and you have a town with a major sports passion. Winters are cold, but spring, summer and fall more than make up it. Boston is an absolutely great place to live.

Nantucket

Nantucket is the home of old colonial architecture, cobblestone streets and seaboard beauty. An island, the town of Nantucket is surprisingly bereft of cars, but does get packed with tourists during the summer. You’ll find the town full of funky little shops, museums and art galleries galore. Nantucket is a great place to spend a weekend as prices are outrageous. Make sure to take in a sunset at Madaket Beach.

New Bedford

A fishing town through and through, New Bedford has a history as one of the pre eminent whaling towns in the country. Whaling is off limits today, but the town still bustles with a major fishing industry. While the town has lost some of it’s charm because of development and a coastal highway, there is a definite feeling of stepping into the past if you move here.

Massachusetts Real Estate

Massachusetts real estate prices are very high. There is simply no way around this fact. A single family home in Boston proper will set you back a million dollars, while prices vary throughout the state. Unless you’re ready to commit to a $500,000 price, you’re going to be disappointed with the options.

Massachusetts real estate has a solid, but unspectacular appreciation rate. For 2005, property appreciated at rate of a little below 12 percent, just under the 13 plus national average.

Raynor James is with the FSBO site FSBOAmerica.org homes for sale by owner. Visit our home buying page to view and buy Massachusetts real estate.

Holiday Goal Setting

Writen by Helena Hill

Life consists in what a man is thinking of all day. Ralph Waldo Emerson

The difference between a goal and a dream is the written word. Gene Donohue

You’ve been driving around looking at houses. You’ve even stopped in on open houses during the holidays. You’ve driven in different areas, but you don’t know the neighborhoods or the schools. Of course, your dream is to have a home of your own. That’s a goal, but it’s not really a plan. Basically, you’re off path.

Now that the holidays are here, and the New Year is just around the corner, it’s time to start thinking about moving forward. Think of your accomplishments this year, and the next steps you want to achieve. Start writing your goals and making plans to accomplish them.

What is the difference between a dream and a goal? It’s the written word. However, we need to do more than scribble down some ideas on paper. Our goals need to be complete and focused. Here’re some steps that will help you build a road toward your goals.

If it’s owning your own home or finding a new one, let’s have a plan. Buying a home, is often a family’s dream. However, while you’re thinking about a home, let’s not forget about the holiday season. Let’s be grateful for the things we have.

This is a special time to think about special goals. Let’s think about working toward a better tomorrow. Follow some of these easy steps when planning ahead.

1. Make sure the goal you are working for is something you really want, not just something that sounds good. When setting goals, it’s important to remember that your goals must be consistent with your values.

2. A goal cannot contradict any of your other goals. For example, you can’t buy a $300,000 house if your income is only $50,000 a year. This is called non integrated thinking and it will sabotage all of the hard work you put into your goals. Non integrated thinking can also hamper your everyday thoughts as well. We should continually strive to eliminate contradictory ideas from our thinking.

3. Develop goals in the six areas of life: Family and Home; Financial and Career; Spiritual and Ethical; Physical and Health; Social and Cultural; and Mental and Educational. Setting goals in each area of life will ensure a more balanced life as you begin to change your everyday living.

4. Write down your goals in the positive instead of the negative. Work for what you want, not for what you want to leave behind. Part of the reason why we write down our goals is to create a set of instructions for our subconscious mind to carry out. Your subconscious mind is an efficient tool, use it. The more positive instructions you give your subconscious mind, the more positive results you will get. Thinking positively everyday will also help you in life, and obstacles you may encounter.

5. Write your goals down in complete detail. Instead of writing a new home, write a 2,800 square foot home in the country with four bedrooms and three baths. Once again you are giving the subconscious mind a detailed set on instructions to work on. The more information you give it, the clearer is the final outcome. The more precise the outcome, the more efficient is the subconscious mind. You can close your eyes and visualize your home. See yourself on the porch looking across the land. See yourself watching the kids play in the front yard. Can you see it? So can your subconscious mind.

6. Make sure your goal is high enough. Shoot for the stars and the moon. If you don’t buy a house this year, keep trying. Don’t give up.

7. Importantly, write down your goals. Writing down your goals creates a roadmap to your success. Although just the act of writing them down can set the process in motion, it is also extremely important to review your goals frequently. Remember, the more focused you are on your goals, the more likely you are to accomplish them. Sometimes, we have to revise a goal as circumstances and other goals change. If you have to change a goal, don’t consider it a failure, consider it a victory as you realized something was different.

8. Now you’ve got written goals. Unless someone is helping you to achieve your goals, don’t freely share your goals with others. The negative attitude from friends, neighbors and family can drag you down quickly. It’s important that the goals in your head stay positive. Reviewing your goals daily is crucial part of your success and it must become routine. Visualize the completed goal, and see your new home. Start each morning with your goals, and repeat the process before you go to bed. This process will start both your subconscious and conscious mind on working toward your goals.

9. Check your goal(s). Every time you make a decision, ask yourself if it takes you closer to, or further away, from your goal(s). If the answer is yes, you’ve made the right decision. If it takes you further away, you know what to do. If you set your goals and write them down, you are on your way to achieving success in every aspect of your life.

Happy Holidays!

Helena Biasatti Hill is a Dallas real estate broker and a contributor to the Flower Mound Homes Weblog.

The Best in Calgary Real Estate and Calgary Real Estate Listings

Writen by Sharon Trenaman

Buying properties, selling real estate, or just thinking about it, no matter what your need is in real estate we can help you. We are experienced real estate investors and have been investing in the Calgary real estate market for over 20 years. We are extremely concerned with finding the solution that will suit your needs and we would like the opportunity to sit down with you and discuss how we can help. We have numerous Calgary real estate listings for you to select from when choosing your next home. We also will buy your home if you need to sell We are not Real Estate Agents and are not asking to list your home which is generally what happens when you sign an agreement with an agent. We do not charge commission and will offer a fair price for your properties or home. You are making a smart move investing in Calgary real estate.

Browse our Calgary real estate listings that we have purchased from many other home owners just like you. We buy and trade homes. You may even be interested in trading your home for one of our properties for sale. Again we work with you to satisfy your needs We are also very successful with renting and rent to own properties if this is a need for you. We would like to help you with your search for Calgary Real Estate. Whether your needs are short or long term we have the experience to assist you in finding the ideal home or investment property. We have all the information you need to help you in your real estate needs. Just think, you do not have to wait 90 days to sell, sell today and do not pay commissions. We have the expertise and proven experience in real estate to help you and have done so with hundreds of other happy buyers and for sale by owner people just like you.

We have numerous Calgary real estate listings for you to choose from if you are considering buying a home or investment properties. We also buy homes on a regular basis and prefer to buy homes through private owners just like yourself, so if you considering selling your home give us the opportunity to speak with you. Spending an hour with us can save you time and effort, help reduce the stress of selling your home or buying a new home and possibly save you hundreds of dollars in real estate commissions. One call is all we need and we will be pleased to meet with you. We are very interested in homes throughout Alberta but in particular Calgary real estate. So please give us the opportunity of creating a winning solution for your needs.

Sharon Trenaman is a real estate investor who has been working in the real estate industry for over 20 years. This site will offer information to home buyers and sellers, people who are looking for rental properties and lease with an option to buy properties. There is also information on mortgages and reverse mortgages. http://www.calgary real estate specialist.com

Home Sellers Market Seems to be Ending

Writen by Jeanette Joy Fisher

It appears that the recent sellers market is coming to a close in much of the country, including several areas that have been hot spots in recent years.

According to figures cited in the Wall Street Journal Online, it appears that the recent home sellers market is coming to a close in much of the country, including several areas that have been hot spots in recent years, such as San Diego, Phoenix, and Boston.

In San Diego, there are some agents who are advising their clients to offer buyer’s brokers a three percent commission, instead of the 2.5 percent rate that had been relatively standard for the past few years. Sellers are increasingly being asked to help with buyers’ closing costs, as well.

In Phoenix, which has been one of the hottest markets in the U.S., houses often were sold within as little as twenty four hours as recently as this summer. However, over the past several months, the number of houses available for sale in Phoenix has ballooned from some 5,400 to more than 17,000, which means that competition for buyers has become fierce, causing price reductions and other marketing tactics to increase dramatically.

Boston has also been hard hit, with prices falling dramatically as jobs are lost and more houses begin to flood the marketplace. Mapass, an appointment scheduling service serving real estate brokers, estimates that the average number of home showings in Massachusetts fell twenty five percent in September, compared with the same period of 2004.

There are a few areas that are bucking the trend, but in most of America, buyers are gaining more negotiating power than they have had in a number of years. They’re asking for concessions that include repairs, painting, and redecorating, as well as significant help with closing costs and lower sales prices.

As an indication of the current trend away from the prolonged sellers’ market in the U.S., a buyer for several stores catering to real estate brokers in northern Virginia says they’re having difficulty keeping “Price Reduced” signs in stock.

This may be a difficult trend for sellers to adjust to, but with rising interest rates, higher gas rates, increased fuel bills, and fewer buyers looking at homes, it’s inevitable that sellers will need to become increasingly more innovative if they’re going to sell their homes quickly and for the best price. It appears that 2006 will see a reversal of the sellers’ market we’ve come to know over the past few years.

Copyright © Jeanette J. Fisher

Join our FREE Home Selling Teleseminar. Get expert advice on Redesign and Home Staging from Design Psychology instructor Jeanette Fisher. More home selling tips http://sellfast.info

Finding A Good Neighborhood

Writen by Martin Lukac

Location is the key to any real estate transaction. When looking to purchase a new home, you need to not only look at the home, but the surrounding neighborhood.

Consider your personal relationship to the area first. How far is it from work, school and shopping? If you will be facing a longer commute time, you may be facing higher gasoline costs. Drive the morning drive from the potential neighborhood to work and school. You may find that the drive is much different at 7:30 in the morning than it is at 2:15 in the afternoon.

Is the neighborhood what you need for your family? Are there area schools, neighboring children and churches of your faith? Are there parks or recreational activities for your children? If you are older, are there activities that you enjoy? Are there senior citizen facilities for your parents?

You will find two types of bad neighborhoods out there. There are those that look just awful, and those that are awful in disguise. You may not notice that a neighborhood isn’t perfect as you drive by it during the day. The neighborhood is quiet and clean. But once night sets, people loiter on the corners and petty theft becomes a common activity.

Most people don’t realize that they are purchasing into a bad neighborhood until it is too late. It is important to drive through the neighborhood during the day, night and weekend nights. What else can you do to determine the true nature of the neighborhood?

Start with checking out the crime statistics for the area. You can find neighborhood specific data. However, you should also check the surrounding area within a several mile radius. Crime statisitcs are available through your local police department or online. You can go to the United States Census Bureau for more information.

Even if you don’t have children, you should check the local school district performance. This can be an indication of the quality of life and crime in the neighborhood. Compare the information to that of schools throughout the city or state. Ask how many extracurricular activities are available for students the more time at school, the less time for trouble.

You should look at the various local amenities in the area. You are looking for high quality shopping, well maintained public areas, plenty of entertainment options and restaurants.

Drive through the neighborhood and the surrounding streets. Are the homes in good condition? Are there signs of growth, such as remodeling or new building? Are the streets maintained and police patrolled?

Find out what the percentage of ownership is in the neighborhood. The higher the rate of ownership, the better your investment becomes.

Don’t be afraid to get out there and ask questions. Ask the local police department what they think of the area. Have your Realtor show you comps on the streets surrounding the neighborhood. Ask home inspectors, appraisers and residents about the neighborhood.

By doing a little investigative foot work, you can make sure that you are purchasing a home in a good neighborhood, thus protecting your investment.

Martin Lukac (http://www.MartinLukac.com), represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

Mortgage Loans - Obtaining Mortgage Loans Depends on FICO Scores

Writen by Nan Wood

FICO Scores were developed by Fairlsaac Corporation. Fairlsaac is a leader in the credit management arena. Their development has become an industry standard for determining an individual’s credit worthiness. The score is determined by payment history, credit history, which includes how many credit inquires have been made on you over a period of time, how much credit you have actually used and what kind of credit you are using.

The score grades your history. It provides a snapshot of how you make your payments. If you make your payments timely, you will have a low credit risk score. The FICO score shows on credit reports. If you score is lower than 500, you pay a premium to obtain a mortgage. If your score is above 700, you can obtain better interest rates.

Ways to increase your score are:

1. Pay your bills on time. Late payments reflect negatively on your score.

2. Pay your medical bills. If you account is turned over to a collection agency, this will have a negative impact on your score.

3. Pay your school loans. In addition to reflecting negatively on your score, the government will find you and force you to pay this obligation.

4. Since the number of inquires impacts your score, less is better. The assumption is that more inquires indicate you have been turned down for credit.

You can obtain your credit report yearly from each of the three major credit reporting agencies. Federal law makes this possible. The report will lay out your credit history for you to review. Correct all errors. When you find an error, notify the creditor and all three reporting agencies. The credit must send a letter for the mistake to be rectified. You need to stay on top of this process. Finding adverse credit issues when you actually need to obtain credit will hinder your ability to obtain financing.

Mortgage lenders look for at least three open credit accounts older than a year. Maintaining long term accounts will help you immensely. Pay your bills on time. Pay high credit card debt and pay off interest loans first. Don’t use your credit card to its limit.

You can seek a pre qualified loan for a mortgage before you seek housing. This process is usually verbal and often free of charge. Once you have a pre approved mortgage, you can complete and application easily. This is a legal loan agreement which should expedite the closing on your home. Of the two - pre approval and pre qualified, the best is pre approved. This approval gives you an idea of your buying power and determines what you can actually afford.

Your Real Estate agent can guide you in the right direction to start your process of applying for loans.

Nan Wood is a RealEstateAgent and Accountant. Visit Real Estate Directory for more online resources.

Property Investing Secrets 2

Writen by Rick Otton

Property Investing Secrets:

How You Can Turn A Below Average Deal Into Streams Of Income

When property investing, sometimes you’ll get a seller who will say: “Sure, I’m retiring, and I need some cash flow, I need some money but if I deposit it in the bank, I’m not going to get much for it. The property market is falling, there aren’t a lot of buyers and they are all beating me up on the price of my house. But if you give me the price that I want, know that I’m not going to be able to live forever. So you’re going to have to pay off the balance to me in about 5 years.” When you’re property investing, you will come across sellers like this. In the past, you may not have known what to do with them. Consider this now; you may be walking past streams of income.

Now, while you’re property investing, you’ve paid $300,00 to the seller and you can turn around and make the property available to a buyer who can’t get a bank loan tomorrow, like an investor. A lot of investors who are buying houses get stopped after purchasing 3, 4 or 5 houses because they can’t get any more bank loans. Many investors still want to buy property but they’re stopped by the banks. So they’d love it if you turned around and said, “Mr. Investor, the house that I’ve just purchased for $300,000 you can have for $300,000.” You don’t even have to increase the price of the property because you’re looking for streams of income and back end profit.

You make the house available to the next man when property investing for the exact same price that you paid for it and say to the investor: “You make payments to me at the same rate as what the bank is charging.” What happens is you’ve got a buyer who makes you payments at bank interest rates on a house that you didn’t increase the price. You sell it to the investor and they pay you 7% interest at bank rates over 25 years. The investor is happy because they didn’t have to go through the hassle of getting a bank loan. The investor pays you $2,200 a month electronically into your bank account and you pay the seller $2,000 a month out of your bank account. You make $200 a month as part of your streams of income strategy.

Also, you insert a special condition when property investing where in five years’ time your buyer will pay you out at approximately $280,000. You’ll pay off the seller at the same time, except at $180,000. You’ve just made $100,000 back end profit on a house plus $12,000 as part of your streams of income investment strategy.

Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.

Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.

10 Tips for Investing in Distressed or Foreclosed Properties

Writen by Elaine Voncannon

1. Search on the world wide web for distressed or foreclosed properties as a starting point. Use a professional REALTOR to identify great foreclosure deals for you. You may be successful at searching the web on your own, but keep in mind some of the information is outdated, some may be incorrect, and some of the available properties are not even listed. A REALTOR subscribes to updated MLS listings and can offer you the most current information available.

2. If you search yourself for distressed properties and purchase from the selling agent, you are paying a commission to someone with a vested interest. Obtain objectivity in the sale by working with your own REALTOR. You won’t pay any more. Technically, everyone works for the seller, since they pay the commission.

3. With distressed or foreclosed properties, time is of the essence. Purchasers must close on the date specified by the agency, and cannot close after this without penalties of $25 200 per day.

4. It takes 1 3 weeks to qualify a loan. If you are approved for a loan, make sure you are qualified by your lender as soon as possible. If you are paying by cash, make certain funds are available. If finances are in order, the REALTOR will then submit an offer. When the offer is accepted by both seller and buyer, the REALTOR will submit the ratified contract to the lender and closing agent. These steps will begin the process of a successful real estate transaction.

5. When purchasing a distressed property, always obtain 3 4 bids from different contractors to estimate costs of repairs, if you do not plan on doing the work yourself.

6. If you are going to sell the property after rehabilitating it, ask your REALTOR to research similar properties in the neighborhood to ascertain market price.

7. Keep copious records for tax deductions. Any expenses related to the purchase, repair, or maintenance of the property may qualify. Meticulous records are key to a profitable real estate venture.

8. The title you receive after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. Some buyers are alarmed by this, but there is no need to worry. The purchase of title insurance protects the buyer. Each lender purchases insurance to protect the loan as well. Titling insurance should be obtained by the property purchaser. It is always offered by the closing agent. Consider using an attorney instead of a titling company as your closing agent. An attorney is only $50 75 more than a titling company. A real estate attorney can remedy any situation that may arise. Therefore, they are more efficient representatives on time sensitive foreclosure properties.

9. Foreclosure properties require special addendums and special contracts by the individual bank and HUD office (where applicable).

10. Foreclosure properties are potentially the most profitable, but require the most attention to detail. A REALTOR experienced in foreclosure deals is highly desirable because the paperwork must be in order to submit a proper bid, and timeliness is critical.

About The Author

Elaine VonCannon is a REALTOR with RE/Max Capital in Williamsburg, Virginia, and she manages investment property as part of her business. Her husband Joe is a contractor who collaborates with her on rehabilitation of properties. She has helped numerous clients invest in and make money on property investments in Southeastern Virginia. vonmor1@cox.net