Summary: Boise, Idaho is considered by many to be the most lovely location to live across America. Beautiful weather, convenient mountains, a family friendly atmosphere; these are some of the reasons why the Boise real estate market is booming. Finding a realtor who truly understands the area is essential before considering purchasing a home in the area. Please read on for some helpful tips and links that can provide the information you need to make your Boise homebuying dreams come true.
Before you take the important step of finding a realtor to sell your Boise home, there are some things you should consider to make certain that the realtor you choose is right for you. Keep reading and we'll find out how you can choose a Boise realtor.
In order to sell home in a specific state, such as Idaho, a person must be licensed by that state to sell real estate. Licensed professionals, who must pass required state exams, are then able to sell a home to you as either a realtor, salesperson, and in some cases a broker. Realtors are held to the highest code of ethics standards in the industry, often much higher than what the state requires. This assures you the buyer or seller of a Boise home that the person who is representing you far exceeds the standards required.
If you find a realtor you are interested in using check to see if their license is in good standing with the state. In addition, will the realtor represent the buyer, the seller, or both? Is the realtor committed to their position full time or is this a part time job for them? Do they belong to a multiple listing service? Is the realtor able to spend the necessary time to help you sell your Las Vegas home?
These questions are essential to helping you determine if a particular realtor is right for you. Knowing the Boise market is one thing, being able to deliver is another. Get references from satisfied customers of this realtor to learn if this person can deliver as promised.
Summary: One of the major trends in real estate currently is people attempting to sell their homes via the process known as FSBO. Usually this is because of the idea that they will save thousands of dollars in commissions. Unfortunately this is really not the case. What is left out of these advertisements for FSBO is the fact that those thousands of saved commission dollars are usually used up and exceeded by completing the tasks that are seen to by a realtor.
One of the major trends in real estate currently is people attempting to sell their homes via the process known as FSBO. Usually this is because of the idea that they will save thousands of dollars in commissions. Unfortunately this is really not the case. What is left out of these advertisements for FSBO is the fact that those thousands of saved commission dollars are usually used up and exceeded by completing the tasks that are seen to by a realtor. A realtor is a professional home seller. ask yourself this: if you needed to have a cavity filled would you go see an electrician? No? Then why would you allow a non-professional to sell your most valuable asset?
Realtors provide services that are not only designed to ease your home sale but services that are designed to specifically protect your investment. One of the most valuable things that a real estate agent can provide is marketing. Unlike selling by yourself, a realtor has access to a huge variety of advertising mediums. Typically the front lines of which is an already established web presence. In addition to listing your home on the local MLS, an agent will have a personal site that is designed to showcase their listings. This is where most homes for sale are first viewed by prospective buyers. Additional marketing is usually done through newspapers and other print media as well as a variety of flyers and info sheets that are available 24/7.
Another aspect of home marketing where a realtors comes in handy is in the relationships they retain with other real estate professionals. A realtor will put much effort into marketing a home to other local realtors in order to best reach the buying market. Home selling is really all about positive exposure for the home in question and only a realtor can provide that degree of exposure. There is a reason that a large percentage of FSBO's eventually end up listing with a realtor in order to get the coverage and price they deserve.
Summary: There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantage
About 10 year ago a had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name, but that's what I'll call him) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.
He and his wife told me that the biggest mistake they ever made was not to invest in buying a home. In their retirement years, when their other retired friends were living in homes that were almost paid off and had appreciated greatly, Uncle Jim and his wife were using a huge portion of their limited retirment money to make expensive condo rent payments. They strongly cautioned me not to make the same mistake they had.
Recent studies are showing that there are many benefits for both the owners and the community for owning your own home, including increased education for children, lower teen-age pregnancy rate and a higher lifetime annual income for children. Besides these, listed below are some of the primary advantages for owning your own house.
More Stable Housing Costs Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money.
Tax Savings Homeonwers can be eligible for signifigant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states' income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments is made up mostly of interest and taxes.
If you need to refinance to consolidate other debts (an opportunity you don't have if you are renting) the interest on this is also tax deductable.
Equity Instead of payments disapearing into someone elses pocket, home owners are building equity in their own home. This is often one of a person's biggest investment assests. Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a schelduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advanatge of that, not the landlord. You can then use this equity to plan for future goals like your child's education or your retirement.
It is Yours! When you own a home you are in control. You the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you.
Even young people, like college students out on their own, can often benefit from home ownership. It puts them ahead of other young people their age financially by helping with their credit and giving them what is often an excellent investment. Often a college student buying a home will rent the rooms out, and his or her roommates end up making the payments for the house. When the student is ready to move on, her or she can sell the home (hopefully making a profit) or keep it as an investment and continue to rent it.
Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn't for everyone. There are some disadvantages to homeownership that you should take into account.
Increased Expenses Your monthly expenses may increase, depending on your situation. Even if the monthly payments are the same, home owners still have to pay property taxes, all the utilities, and all the maintenance and upkeep costs for the home. Often you need to supply appliances that were furnished with a rental.
Decreased Freedom of Mobility Homeowners can't move as easily as a renter who just has to give notice to the landlord. Selling a house can be a complex and time consuming process.
Risk of Depreciation In some areas with overinflated prices, there may be a risk that the house will depreciate instead of increase in value, if the prices go down. If you then sell the house, you may not get enough money from the home to pay back your mortgage, and you will still owe the mortgage company money.
Possibility of Foreclosure If for some reason you are unable to make your payments, you risk having the lender forclose on your propety. This can result in the loss of your home, any equity you have earned, and the loss of your good credit rating.
When considering home ownership, you need to weight the advantages and disadvantages for yourself. If you are like most people, you will find that homeownership is worth the risks and disadvantages.
Summary:
Purchasing or selling a real estate is very complex and too risky to invest money. Because of this, it is cleverly to seek for a trustworthy and knowledgeable real estate agent to prevent regrets in the future. There are many reasons why a real estate agent is needed in buying or selling a real estate.
Purchasing or selling a real estate is very complex and too risky to invest money. Because of this, it is cleverly to seek for a trustworthy and knowledgeable real estate agent to prevent regrets in the future. There are many reasons why a real estate agent is needed in buying or selling a real estate.
If you don’t have any idea of the procedures in buying a real estate, a real estate agent is the person who can help you. License brokers or real estate agents have a thorough knowledge that can help you ensure the legality of papers and real estate procedures.
If you’re new to the area, do a simple research of properties in the neighborhood. Try to ask some people living their about the amenities and hints about the community. Finding a knowledgeable real estate agent is the best idea. Real estate sales agents have a vast knowledge regarding real estate market in their area. They know the laws and guidelines regarding real estate matters. They also can recommend what is the best for you and your budget.
If you urgently need to buy or sell a real estate, an expert real estate agent can help you. A professional real estate agent has many friends, associate and contacts that can speed up the process if you urgently need to buy and sell a real estate. These will help you save time and effort and can possibly sell you’re real estate property immediately or aid you in finding your target house.
If your too busy working or doing something very important and don’t have the time in dealing with real estate transactions, A real estate agent will serve as your personal representative in buying or selling a real estate. Also, if you don’t have the abilities of a sales person, the agent serves as your spoke person to deal with your business clients.
Summary:
Why you’re making the investment. Do you intend to use and enjoy the property? Or, are you only looking at the investment potential? That’s important to your initial outlay and your long-(or short-) term return
While the term “Condotel” is nothing new in the Philippines, it’s meaning has changed dramatically since the hotel-condominium hybrids were introduced 30 years ago. Back then; a condotel unit might look-and feel-like a cramped, converted motel room. Not Now!
Pacific Concord Properties Inc introduces the Condotel Concept through newly built Condominium Buildings designed and conceptualized as Residential Condo Hotels
The Lancaster Cebu Resort Residences and Lancaster Suites Manila, are privately owned condominium units, made available by the individual unit owners through the Condotel Management Company for short-term rentals. They are more spacious and with amenities such as 24-hour Security, Concierge and Reception, Business Centers, Retail Shops and Restaurants, Swimming Pool, Spa and Exercise Facilities
For buyers looking for a vacation property with rental-income potential, The Lancaster Cebu Resort Residences Condotel units are completely furnished and equipped, making them ideal for out-of-town owners. Those same “feels like home” qualities appeal to vacationers seeking an alternative to the traditional hotel room. In fact, popular vacation “hot spots” such as Cebu are seeing a surge in Condotel development, with some hotels being earmarked for conversion to condotel units and other properties being built exclusively for the short-term rental market
According to Beth Collingz, of PLC International Marketing Networks, a Lead Marketing Partner with Pacific Concord Properties Inc., whom have Condotel developments in Metro Manila and Cebu, and specializes in working with international clients: “My phone has been very busy with buyers from the UK, Scotland and Australia interested in purchasing investment properties and holiday homes here. A lot of this interest is being driven by the relatively cheap market prices in the Philippines compared to Europe, especially UK Housing prices, and the easy payment options available for our Condotel Developments, but there are other factors, too. Offshore Property Investors, Foreign baby boomers as well as overseas Filipinos, are looking for ways to maximize their return on investments as they approach retirement, and so are purchasing second homes, particularly Condotel Investments where they can use the Condo for vacations and rent it out through our In-House Condotel Management when they are not using the unit thereby gaining rental incomes that on today’s purchase prices, give a projected ROI on their investments of some 12-16% depending upon the mode of payment for the unit”
Beth Collingz, who runs PLC Global Pinoy, an internet based marketing network specializing in Condotel Investments in the Philippines, indicated that more than 85% of all Condotel sales in Metro Manila were to international clients. While such a level of foreign-purchasing activity is not as high in the Philippines provinces, Cebu in particular, has seen a sharp increase in real estate purchases by international buyers in the past several years.
“These international buyers know it’s a buyer’s market in the Philippines right now—there are a lot of properties available and fewer local buyers,” Collingz said. “I’m working with clients who are purchasing their second property with me. We also have referrals from many of our prior customers and new clients who have found us through our Web sites, lancastersuites.com and plcglobalpinoy.com which include a special section for international buyers”
While Metro Manila is still a popular choice with international buyers, Collingz says clients tell her that it makes more sense to buy in a year-round vacation destination. The Lancaster Cebu Resort Residences Condotel development by Pacific Concord Properties located in Mactan, Cebu — the area around Cebu International Airport — fits the bill with all it offers to International buyers.
Accessibility from Europe is also a factor.
“London to Qatar, London to Amsterdam to Singapore or Hong Kong direct flights to Cebu and Manila, for example, average just 16 hours, add to that the many airline specials from Qatar Airlines whom probably offer the cheapest air fares that fly directly into Cebu and Manila and it’s easy to see why the Philippines is becoming an international community.”
Unlike other offshore rental properties, where the rental market is largely seasonal, in the Philippines there is a strong market for rental properties year round. This gives buyers greater flexibility in choosing when to use and when to rent their property. The strong rental/second home market also has resulted in a proliferation of professional property managers and rental agents, making property ownership and rental easy. Pacific Concord Properties Inc with its flagship Lancaster Condotel Developments fit’s the bill.
Financing Options and Security open up Philippine real estate market to International buyers.
Previously a stumbling block for some international buyers was the perception that it is difficult —if not impossible — to obtain financing in the Philippines. As a result, many purchases in the past were cash sales.
Pacific Concord Properties recently introduced the new affordable easy payment plans for the Lancaster Atrium Manila Condotel Suites where a Studio Unit can be purchased without any down payment, and 67% of the contract price payable over 60 months interest free and the 33% balance payable on turnover of the unit or to be extended for another 60 months through PCPI’s no prequalification no hassle finance plan, sales of the companies inventory of units will surely sell out quickly to investors seeking to take advantage of the Condotel Investment “Boom” in the Philippines.
“Where can you find a 350 sqft Freehold Flat in the heart of Central London for only 25,000 Pounds or a Studio in Manhattan for only 34,000 Dollars and then get up to 16% per annum ROI from rental returns” enthuses Collingz. “These figures probably seem Crazy to London Property Buyers unless they remember the prices of Flats and Apartments back in the late 70’s” and all of this comes complete with average 85 degree temperatures and sunshine nearly all year round” said Beth Collingz whom used to live in South Kensington and still owns several Chelsea Embankment Townhouses and St. Catherine’s Dock Flats before coming over to the Philippines
You must have the answers to the six primary factors to consider when making a real estate investment–and how each one affects your level of income said Collingz
1. Why you’re making the investment. Do you intend to use and enjoy the property? Or, are you only looking at the investment potential? That’s important to your initial outlay and your long-(or short-) term returns.
2. What’s your tolerance for risk? Learn your Risk Comfort Level, is this investment within those parameters?
3. Your options for financing. Cash or credit. Your answer helps determine your investment.
4. What fits well in your existing portfolio? To be well-balanced, your portfolio should have a range of assets including real estate–and your portfolio should include a range of properties.
5. Your level of experience in the market. Experience is the roughest teacher–because it gives the test before it gives the lesson.
6. Your desired level of involvement. Your level of participation will help you determine your type of investment.
Then act. Take a first step. Don’t invest money you can’t afford to lose. Control the circumstances as much as possible. But don’t wait for a sign from above that the timing and the opportunity are ideal. The sign won’t come…and the market won’t wait. For a first deal you should probably invest no more than $50,000.
A major stumbling block for some Investors from the UK was the perception that purchasing property in the Philippines was risky with nightmare stories of fraud and deception abounding due to the lack of Professional Realtors and Internationally accepted principles’ of Real Estate Transactions.
With Pacific Concord Properties Inc adopting International Property Standards and the only Philippine Real Estate Developer to operate the internationally accepted practice of Escrow Trust Account Banking for all payments made by buyers of its Condotel Suites, international offshore property investors need no longer worry about the security of their investments
Another drawback to purchasing property in the Philippines was that most overseas buyers of the real estate have become accustomed to normal home buyers standards like putting their money in escrow (which protects them if the developer does not deliver on its commitments) whenever they buy real property.
Pacific Concord Properties Inc., now sets that “International Standard’ in the Philippines with the “Buy Safe Payment Policy” of Escrow Trust Account Banking with Equitable PCI Bank, one the Philippines largest Banks, for the purchase of a Condotel unit in either the Lancaster Suites Manila, Lancaster Atrium Manila or Lancaster Cebu developments.
Buyers of Condotel units at the Lancaster Suites Manila, Lancaster Atrium Manila and Lancaster Cebu Resort Residences in Cebu, pay their Reservations, down payments and all monthly payments directly to the Companies Trust Account with the Bank thereby ensuring that funds are maintained and ultimately used only for the purpose of direct construction related costs. This not only guarantees that the buyers money is safe, but more importantly the development will be completed on schedule and within projected time frames for the project.
Collingz highlights the importance of working with those experienced in this type of transaction. “Buying property in the Philippines is significantly different from buying in the UK and other European countries, for example,” said Collingz. “The purchase process is more direct, with less stress and more accountability; and we work directly with the buyer or collaboratively with the client’s agent or representatives. Our goal—and that of Pacific Concord Properties Inc — is to make the whole process as easy as possible. Prospective buyers can view properties online on our Web site and save listings they’re interested in an online portfolio”
Communication is the key to the process, according to Collingz. “We spend a lot of time communicating with buyers before they visit, so that we all have a clear picture of the type of property that’s right for them. We also make travel arrangements and hotel accommodations and provide them with information in advance of their visit so they understand the process and their options. That way they can make the best use of their time here—and we can ensure they have time to get to know and enjoy the area.”
In many cases, buyers arrive for a three to five-day visit and sign a sales agreement before heading home. Pacific Concord Properties’ staff then handles every detail of the closing so that on their next visit, the buyers can enjoy their new home or investment property.
Room rentals? Why would you want to make your home into a boarding house? Maybe you shouldn't. I enjoyed having people living in my house, and most of them became friends. On the other hand, you might not like that arrangement. I hated being a landlord when I owned rentals that were not my home. Each of us is different.
Consider Your Room Rental Options
You don't necessarily have to live with the room-renters, so consider all the options available. You could do any of the following:
1. Rent rooms in your own home and share common space with the renters. This is what I did for several years when I was single, and it worked fine for me.
2. Partition your home so you can rent rooms without sharing common space.You'll need at least two bathrooms, and separate entrances to make this work.
3. Add an efficiency apartment for yourself, so you can have privacy, perhaps still sharing a laundry room with the renters. This is what we did when I married. It also opened up one my previous bedroom, increasing the rental income enough to pay for the new apartment in less than a year.
4. Buy a house just to rent it out by the room. This can be an excellent way to get cash flow out of homes that might not otherwise be such good investments.
5. Sublet a room in the apartment you rent. If this is okay with the landlord, it can be a way to afford a nicer apartment, or to get past financial hard times.
6. Use room rentals as a way to afford a house payment. If you are having trouble buying a home because you can't afford the payments, you can buy a home with extra rooms and rent them out.
Consider The Money In Renting Rooms
The amount you can charge for rent will vary greatly in different parts of the country. Here is what I charged renting rooms in a mobile home in a small town in northern Michigan (a few years ago):
Small Bedroom: $65 per week times 52 weeks equals $3380 per year.
Medium Bedroom : $75 per week times 52 weeks equals $3900 per year.
Large Bedroom : $85 per week times 52 weeks equals $4420 per year.
Potential Annual Income (I had a couple weeks vacancy now and then): $11,700 per year.
This was a home that I lived in, remember. I included all utilities in the rent, and I tracked my expenses closely. Including repairs to the heating system, the refrigerator and roof, as well as utilities, garbage collection, cable television, local phone service, property taxes and insurance, my costs the last year I had the house were $3,900 (I had already paid off the $253/month mortgage).
How do you figure profit when you live in the home? Renting rooms in my home probably added $300 or so to the annual costs. Heating was almost the same cost, as was garbage collection, taxes, insurance, cable television, and phone service. A little more wear and tear and a bit more electricity were the only real additional costs. In other words, almost all the extra income was profit. Or if you want to look at it another way, I lived for free and had $7800 income from the home I lived in.
Do you want to have thousands of dollars of extra income every year? What would you do with that money? Think about that, and you have the answer to why you should rent rooms.
Last year Belize appointed a new Tourism Minister who is committed to the development and promotion of Belize as a luxury market for private tourism; this fact is the number one force driving massive real estate investment in Belize right now.
While Belize has long been associated with low cost and attractive real estate and has long been considered an affordable overseas destination for British and American tourists and retirees, never before has it sought to so fully embrace its cultural and ecological advantages and build on its reputation as a friendly and relaxed destination to directly target the wealthier tourism market.
Belize is of course already a tourism hotspot with travellers drawn to the beautiful cayes, the beaches, the barrier reef and the flora and fauna…but with the development of a luxury end tourist market place in Belize, the appeal of the country can only rise and rise.
International real estate investors are well aware of this fact and are buying up land and property in Belize to position themselves ahead of the projected upward swing in real estate prices.
Those who are taking advantage of Belize’s policy of actively attracting investment today will benefit over the medium term when the country’s plans for the development and promotion of the tourism market are fulfilled. In other words, those who buy now stand the very best chance of making maximum profit.
Not only are real estate investors well aware of this fact, a growing number of American baby boomers are too and they are securing their retirement lot now while prices remain attractively low. They know that if they spend the next few years before they retire getting their ideal property built so that it will be fully completed and ready to move into when Belize is well under way with establishing itself as a sophisticated travel destination, they will be moving straight in to a more sophisticated country as a result.
In terms of what will drive residential property prices up in Belize, as more and more people travel to Belize so more and more people will understand the charm and appeal of the country and will wish to set up home or buy a vacation home in Belize. This increase in demand for real estate in Belize will come from an increasingly wealthy section of society if the Tourism Minister’s plans for Belize come to fruition and these people will be able to afford to pay more for property and this will sustain price increases.
Furthermore any increase in demand naturally pushes property prices up anyway - and in fact this trend has already started in the most attractive coastal resorts in Belize and just highlights the shape of things to come.
Therefore NOW is the time to buy real estate in Belize if an investor wants to get the most for his money whilst buying into the maximum period of growth potential.
