Archive for September, 2010

Using Seller Concessions to Fight the Real Estate Market Crash

Friday, September 17th, 2010

If you have even a passing interest in the topic of Using Seller Concessions to Fight the Real Estate Market Crash, then you should take a look at the following information. This enlightening article presents some of the latest news on the subject of Using Seller Concessions to Fight the Real Estate Market Crash.

Truthfully, the only difference between you and Using Seller Concessions to Fight the Real Estate Market Crash experts is time. If you’ll invest a little more time in reading, you’ll be that much nearer to expert status when it comes to Using Seller Concessions to Fight the Real Estate Market Crash.

During the last few years before the market started to turn downward, it was virtually a guarantee that you would be able to sell your home if you put it on the market. In fact, there were many markets that were a virtual hot bed of activity, with bidding wars inciting prices well above the asking price. The low interest rates at the time were all the encouragement buyers needed to start snatching properties at a historic rate. As a result, numerous investors were able to double the investment they had made in short period of time.

As many predicted would happen; however, the real estate bubble did indeed burst and many are predicting that the market of 2008 will make the preceding two years seem like a cakewalk. Once hot markets have declined rather rapidly, leaving investors and homeowners alike wondering what they can do to sell their properties as loan underwriting guidelines tighten and the market floods with inventory.

If you find that you absolutely cannot wait until the market turns around to sell your property and must sell it now, your best hope may be creative marketing tactics.

The first thing that must be understood about the current market is the fact that the market is rife with choices. A few years ago buyers felt a decided pressure to move and move quickly when searching for a property. Choices were few and the best properties were likely to be snatched up as soon as they hit the market. Today that is not the case. There are far many more properties on the market, prices are lower and buyers know they have the advantage of being able to take their time looking. This means if you are going to be competitive in selling your property, you will need come up with something that will set your property apart and entice buyers.

In the last few years before the market crashed, sellers had no need to use seller concessions. In areas where the inventory is high; however, seller concessions are becoming far more common. Basically, a seller concession is anything that a property owner uses to curry favor with buyers. The range of possible seller concessions varies quite a bit. For example, you might provide a decorating allowance if your carpet is outdated or even provide a contribution toward closing costs in order to encourage first-time home buyers to consider your property.

In the past these types of concessions were not usually offered until buyers and sellers were in the process of negotiating. In most cases, such concessions would not even be offered until something turned up in the inspection. That does not mean that they cannot be offered during marketing; however, in order to attract prospective buyers.

The key is to recognize that the balance of power has definitely shifted. Buyers hold the upper hand right now and sellers must be prepared to do what they can to attract them. If you have already taken certain steps to move your property such as pricing it aggressively then you may wish to consider making some concessions to increase the interest of buyers.

One option would be to pay points for the buyer. This is actually a situation that provides a win for both buyers and sellers. Let us say you have a property listed at $150,000. If you slashed the price 3% then you would be taking $4,500 off the price. You could use that same amount of money; however, to purchase mortgage points for the buyers. In fact, you might even find that you can purchase a substantial amount of points for a bit less money. This strategy would allow buyers to obtain a much lower interest rate and as a result a far lower monthly payment. This would make your home more affordable than similar homes in the neighborhood and may just provide the incentive buyers need to snatch up your home.

I hope that reading the above information was both enjoyable and educational for you. Your learning process should be ongoing–the more you understand about any subject, the more you will be able to share with others.

Thailand Landscape Architects

Thursday, September 16th, 2010

Imagine the next time you join a discussion about Thailand Landscape Architects. When you start sharing the fascinating Thailand Landscape Architects facts below, your friends will be absolutely amazed.

See how much you can learn about Thailand Landscape Architects when you take a little time to read a well-researched article? Don’t miss out on the rest of this great information.

Landscape architects play a vital role in urban and rural development all over the world. Thailand has also contributed qualified landscape architects to the world Landscape architects in Thailand offer valuable designs and plans for various work settings. Landscape architecture has been recognized as distinct profession like medicine, engineering etc in Thailand.

Those who want to practice as landscape architect in Thailand needs to complete the Bachelor degree in landscape architecture approved by the ministry of University affair. The Chulalongkorn University was the only University in Thailand teaching landscape architecture course for 5 years. But now Thammasart University has also started the Bachelor degree in landscape architecture in Thailand. There are around 100 new landscape architects in Thailand every year.

There are more than 30 Thailand landscape architect firms most of them located in Bangkok. More than 80 freelance landscape architects are working in the small landscape architecture firms. While other landscape architects join in International landscape architecture firms. Nearly one third of the students of Bachelor degree in landscape architecture wish to go to other countries for practical training like Singapore, Hong Kong, Australia, and USA etc. Thailand landscape architects need to obtain license from the Board of architects.

Thai association of landscape architect plays an important role in developing acceptable professional standards in the field of landscape architecture. Thailand landscape architects engage in some mega projects like designing highways, mass transit system, airport and number of renovation projects in the country. The large scale projects like Royal Flora expo in Chiangmai and Suvarnabhumi Bangkok International airport are perfect examples of landscape architecture development in Thailand.

The council of Architects is a special type of private organization which works under Ministry of Interior and it is responsible for regularizing four environment related profession including landscape architecture. However the landscape architects occupy mere 15% of the total environment related profession in Thailand.

The council of architects issues license to Thailand landscape architects based on 3 E concepts. The 3 E represents education, experience and examination. The person who wants to get license under CoA must complete bachelor degree in landscape architecture from the approved institution. The proof of continuous period of work must be provided to get license. The interview and written exams are also required for new entry of all landscape architects.

Though there is only small percentage of landscape architects in Thailand, they offer valuable services for the urban development of the nation. Some of the famous Thailand landscape architects are described below:

Somwang Leevanijkul is the Deputy President of Thai landscape architect and he is the Managing Director of Belt Collins International co. ltd, Thailand. He has vast experience on landscape master planning and varied landscape design projects. He offers numerous landscape design plans to various projects throughout Thailand and abroad.

His services include hotel designs, resorts, educational institutions, sports, recreation, commercial and residential design plans. He works both for private and Government sector. He has provided innovative landscape design plans for Thai University campus.

M.R. Chanvudhi Varavam is another famous landscape architect in Thailand who engages in various landscape design and planning projects.

Those who only know one or two facts about Thailand Landscape Architects can be confused by misleading information. The best way to help those who are misled is to gently correct them with the truths you’re learning here.

Costs to Consider when Purchasing Rental Investment Property

Sunday, September 5th, 2010

This article explains a few things about Costs to Consider when Purchasing Rental Investment Property, and if you’re interested, then this is worth reading, because you can never tell what you don’t know.

So far, we’ve uncovered some interesting facts about Costs to Consider when Purchasing Rental Investment Property. You may decide that the following information is even more interesting.

The process of searching for investment rental property can be exciting; however, before you get too excited it is important to run some preliminary numbers to make sure you know exactly what you are facing to ensure a successful investment.

First, you need to carefully examine potential rental income. If the property has already served as a rental property, you need to take the time to find out how much the property has rented for in the past and then do some research to determine whether that amount is on target or not. In some cases, properties may have rented for lower than they should have while in other cases a property may be over-rented. Look at comparables in the area to make sure you know whether the property in question is on target; otherwise you may find that the amount you think you will be receiving in rental income is unrealistic.

Mortgage interest is another area that should be considered carefully. Make sure you know and understand prevailing interest rates as well as the details of your specific loan because mortgage interest is the biggest cost you will face when purchasing investment property. First, understand that homes and duplexes tend to have loan structures that are similar to any mortgage loan. With a larger property; however, such as a triplex; rates tend to be higher. If you are looking at commercial property with even more units; the matter of terms and rates is completely different. Typically, the more money you are able to put down on the purchase of the property, the less interest you will have to pay.

Taxes are another issue. Many people use the taxes from the year in which the property was purchased and assume they can use these figures to estimate expenses. This is not always the cases because taxes do not remain the same; they typically change every year. Usually, taxes go up after a property is purchased. This is especially true if the property was previously owner occupied. So, it is typically a good idea to just assume that the taxes will go up on the property after you purchase it.

One area which many people fail to take into consideration is the cost of the property being vacant. While you would certainly hope that your property would remain rented all the time, this simply is not realistic. There will probably be times when your property will be vacant. Generally, you should assume that your property will have an average 10% vacancy rate.

The cost of tenant turnover should also be taken into consideration. This is often a big surprise to many landlords who assume they will rent out their properties and their tenants will remain in the property for some time. Even more of a surprise is how much it costs to prepare the property to rent out again. Just a few of the costs include not only advertising for a new renter but also repainting, cleaning, etc. If damage was done to the property, the total cost of repair may not be fully covered by the security deposit you charged.

Of course, the cost of insurance should also be taken into consideration. Keep in mind that the insurance for investment properties is usually higher than an owner occupied property. Make sure you obtain a quote rather than just using the insurance cost for your own home as an estimating guide. In addition, make sure you take into consideration not only property insurance but also liability insurance as well.

Utility costs are another area that are frequently under-estimated. If the property has already served as a rental property make sure you find out exactly what the owner pays for and what the renters pay for. You should also make sure to find out whether you will be responsible for other costs such as trash collection.

Finally, take into consideration the costs of property management if you will not be managing the property yourself.

When word gets around about your command of Costs to Consider when Purchasing Rental Investment Property facts, others who need to know about Costs to Consider when Purchasing Rental Investment Property will start to actively seek you out.