real estate Archives - A Million Lives

May 30, 2018 by Greg Underwood

Houston Real Estate Attracts Many Buyers According to Al Hartman

Houston is one of the fastest growing cities in the country. Indeed, according to the US census Bureau, it ranks in the top 10, just behind some metro regions such as Atlanta, GA. According to Al Hartman, who has worked in Houston real estate most of his life, there are a number of particular things that make the city so appealing.Indeed, it is because of those things that professionals like him have faith in the idea that Houston will continue to grow even if there is an economic downturn.

Al Hartman on the Attraction of Houston

There are a number of things that make this city so attractive. Those include:

Its economy. Even during the last economic crisis, the metro region around Houston continued to thrive. The reason for this is because there are so many different industries that operate within the commerce of the city, including manufacturing, shipping, computers, energy, and aerospace. Additionally, the city is known to aggressively attract new employers and new industries. This is why the unemployment rate is almost always low here.
The cost of living. Texas does not have state income tax and Houston does not have local income tax. Additionally, prices are much lower than in various other national metro areas. The result is that a lot of people are interested in the proposition of living here. It is quite possible to enjoy a comfortable life even on a budget. Compared to other metro regions, housing costs are also surprisingly low, with some very nice properties costing less than $200,000, something that almost no other region can replicate.
The weather. Houston is pleasantly warm all year long. It does have its own seasons with slightly colder winters, but compared to areas further in the north, even the winters are mild.
The opportunities period last but not least, Houston and its metropolitan area is incredibly diverse, expensive, and vast. No matter what someone likes to do, they know they can find it here. People can enjoy the great outdoors, take part in notable educational experiences, watch professional sports, immerse themselves in the arts, and more.

It is clear to see why Houston is such a fast growing city. Anyone interested in relocating to Somewhere new and interesting should really take it into consideration. That said, it is important to do so sooner rather than later, as there are always opportunities to be missed as they are being taken up by others. Real estate prices are affordable, jobs are available, educational places are still free, but how long this will continue is anybody’s guess.

I’ll heartburn at faith in the fact that people will continue to come to his favourite City. Indeed, it has done very well throughout various Economic downturns and there is no reason to suspect the next one will be any different. Additionally, opportunities exist both for established professionals and for entrepreneurs who want to look at start-up businesses. The time to come to Houston is now!

May 30, 2018 by Greg Underwood

Yigang Tang Recommends European Countries for Real Estate Investments

The European continent is home to many different countries, all of which have a fascinating history and rich and beautiful natural environments. Since the fall of the Eastern Block, however, it is also home to numerous emerging economies that are of particular interest to foreign real estate investors. Yigang Tang recommends that those interested in making such an investment consider the following countries.

Yigang Tang’s European Recommendations

The first country that Tang recommends is Hungary. Between 2004 and 2005, property prices in Budapest, the capital of the country, grew by 15%. Growth has slowed down somewhat now, but prices are still far below those in this country and they continue to increase. Additionally comma there is quite a significant demand for rental properties in Hungary as a whole as it also has an emerging tourism industry. For the investor, this means there are opportunities in both commercial and residential properties, as the tourism industry growth is also giving rise to many new businesses.

The second country is Latvia. The Latvian economy is still being established but it is now the fastest growing in all of the European continent thanks to direct investment from foreign countries. Additionally, it is believed that workers in this country will receive one of the 5 highest salary increases globally. What this means is that people in Latvia are able to spend more comma including by paying more on there rent period they can also spend more time enjoying their country’s emerging tourist industry, for instance in coastal port towns or in Riga, the capital.

Then there is Poland. This country joined the EU in 2004 and has received significant investment and aid. This has been used to improve the infrastructure, leading to strong economic growth. Krakow and Warsaw are two very popular destinations for businesses and international companies, which means there is also a high demand for both residential and commercial properties. The Polish government is committed to maintaining economic growth, making it safe investment location.

The third option is Romania, which joined the EU in 2007. The prices for real estate are ridiculously low in this country and you can purchase anything from a factory to a castle. However, Romania is also home to tremendous bureaucracy, red tape, and paperwork. If you are happy to deal with that, then it is one of the best investment opportunities for real estate professionals around.

Last but not least, there is Turkey. Turkey is on on the fence market. They have long been trying to join the EU but have so far been unsuccessful. The recent Presidential elections have also once again caused a degree of turmoil in the country. However, the tourism industry is incredibly strong and this means that a foreign investors can really strike while the iron is hot. At present, property prices are low and they have not grown much over recent years, but it is likely that there will be achange and it can only be positive.

May 7, 2018 by Greg Underwood

DIY or Don’t: Buying a House Without a Realtor

If you’re considering buying a house without a realtor, then check out these pros and cons before you decide if it’s the right choice for you.

We’re now living in a time when there are more people who rent than own a home since 1967. Some people choose to rent because they don’t want to be tied down.

Others don’t want the hassles of maintaining their property. But many erroneously believe that they can’t afford it. Turns out, in the long run, they would save more money by buying a home.

If money is a concern, it’s worth considering working without a realtor. However, cost shouldn’t be your only concern when buying a home.

Here’s what you need to know to make a decision on whether you should consider buying a house without a realtor.

Buying A House Without a Realtor Facts & Fiction

There are a few myths flying around that make some people feel as though buying a home without a realtor isn’t a possibility. It is, but be prepared to do a lot of work.

Some people feel as though they won’t be taken seriously as a buyer if they are buying a home without a without an agent. That’s not entirely true.

While some sellers may prefer to work only with people who use a professional realtor, others might actually welcome the chance to cut out the middle person in the transaction.

Also, many buyers believe that if they make an offer without an agent that the seller’s agent will just keep the extra commission. Unfortunately, if you’re not careful, this can happen.

It’s common for listing agents to have contracts with their clients that contain variable commissions. Often that means that if the buyer isn’t using an agent, the listing agent automatically gets the leftover commission.

Apply For A Mortgage

Not everyone needs a mortgage to buy a home, but most will.

And whether you’re buying a home without an agent or with one, you’ll still need to apply for a mortgage. It’s an important step because it lets you know what your budget is for home buying. But there’s a lot of paperwork involved.

To make it easier on yourself, gather up all pertinent papers as your first step. Then do some research to find the best place to get a good deal on a mortgage.

Check Your Credit Score

Your credit score is definitely going to come into consideration when you’re applying for a mortgage.

Check your credit score. If there are any errors, take the appropriate steps to clear them up immediately. If there are some red flags but they aren’t from errors, do what you can to improve your score as soon as possible.

Putting yourself on a budget and taking steps to lower your current debt will go a long way towards helping you buy the home of your dreams.

Research Where Homes Are For Sale

Figuring out where the homes are for sale is the hardest part of buying a home without an agent.

Real estate agents have access to a great network that enables them to know where all the best houses are. They can use their system to narrow down your search and help you find a home quickly.

When you’re buying without a realtor, there’s a lot more work for you to do.

Where To Find Your Dream Home

To start your search, try looking at real estate magazines. However, if you’re not working with a realtor, you can only use the magazines to find homes for sale by owner listings (FSBO).

An easier search is to go online and search classified ad sites like Craigslist. You can also take a look at other online real estate websites to find out where homes for sale are listed.

Sites like Trulia.com and Zillow.com maintain a database of homes in the United States. You can even perform searches based on parameters such as location, price range, and even layout.

For homes in outside the US, try searching sites like Fab Property Spain.

Check local newspapers to find homes listed. Look in both the classifieds and real estate sections.

Take a drive through the neighborhoods you are interested in buying. Look to see if there are any FSBO signs which list the seller’s numbers on them.

You can also spread the word to friends and family both orally and on social media that you’re looking for a house.

Contact The Homeowners To See the House

Once you find a home you’d like to view, it’s time to contact the owners.

Before you go all the way over to their home to view it, take the time to ask the seller’s a few questions. It will save you some time.

If you have kids, some questions to ask are about the schools and whether or not there are other kids in the neighborhood.

Also, ask about the current condition of the home. Then ask about any repairs made on the home. Ask the seller’s what is included in the sale of their home.

You can also ask about noise levels, problem neighbors, and if they’re willing to let you make an offer on their house if you’re not using a realtor.

How Using A Realtor Saves Time

If you’re extremely busy, then consider hiring a real estate agent.

They can take the time to schedule when it’s good to see the home. They’ll also have the answers to many of the questions you have about the home.

Also, the realtor might have access to additional photos of the home so you can view it without actually stopping by the home until you find one you truly love.

Determine Whether The House Is Worth The Asking Price

Once you’ve selected a home that you love, it’s time to learn how to make an offer on a house without a realtor.

Here are a few ways to evaluate a home’s value without using a realtor.

Hire an appraiser to evaluate the property. While it will cost you some money, the appraiser will perform a thorough assessment of the home.

She or he will also provide you with the required documentation your mortgage lender needs before you can purchase the home.

You can also turn to the internet. Ther are home value tools which have you input the home’s specifics in order to obtain a likely estimate of the home’s worth.

You’ll find quite a few free home value calculators available online.

Try doing a CMA (comparative market analysis). The CMA takes the structure of the home, the property it’s on, and the neighborhood the home is located into account in order to provide an accurate figure of the home’s current value.

You can perform a CMA yourself for free on websites like RedFin.com.

Hire A Real Estate Attorney

Whether you are buying a home with or without an agent, you will still need to hire a real estate attorney.

A real estate attorney will handle all the necessary paperwork to ensure the final sale of the home. When you’re buying a home, the seller enters into a brokerage contract with a real estate attorney.

They handle the transferring home’s title and property from the seller to the buyer. While it may seem simple, trying to buy a home without using a real estate attorney using means.

In the typical home purchase, the seller enters into a brokerage contract with a real estate attorney.

Their job is the process the paperwork and then transfer the title and property from the seller to the buyer.

It is never a good idea to try to sell or buy a home without using a real estate attorney. There are too many possible problems that can arise due to sheer ignorance on the part of both the seller and the buyer.

Make An Offer

Once you’ve found the home of your dreams, it’s time to make an offer.

The amount you offer the sellers may be more or less than their asking price. Much of it is determined by the current condition of the home and how sought after the property is.

If the home was recently put on the market, there is usually more than one buyer interested in making a purchase. If you have competition, be prepared to up your offer.

But there are also times when the seller is asking for more than what you feel the home is worth. It’s not uncommon to put in a bid for less than the asking price based on the current condition of the home and also how long it’s been for sale for.

Your real estate attorney will draw up the terms and then present the offer to the sellers. Be prepared for the sellers to begin a negotiation rather than accepting your offer.

Draw Up A Sales Contract

Once your offer has been accepted, congratulations!

But it’s not over yet, your real estate attorney needs to draw up a sales contract which both you and the seller need to sign. Once everything has been signed and the money and title have been transferred, you are officially a homeowner.

Now it’s time to make your new house a home.

Choose DIY

If you’re too busy, have no interest, or feel you can’t handle doing everything on your own, hire a real estate agent. Just make sure you feel comfortable with them and trust them.

But choosing DIY means that if you’re capable of buying a house without a realtor, you can pretty much do anything you want.

We’re inspired by you. We believe you’re limitless in your possibilities. But of course, you need support and ideas. That’s where we come in.

Keep reading our articles to learn how to do anything DIY.

January 25, 2018 by Greg Underwood

How Blockchains Will Change the Property Market

What is a blockchain you maybe initially asking? Well it’s a term that has become all too familiar in the property market over the past few years. News has been circulating about blockchain technology being adopted by most businesses in today’s era but what is it and what impact does it have?

Well, in simple terms, blockchain is a highly secure way of recording transactions, contracts and transferring data. The clever part is that if a blockchain is implemented the sensitive information it holds is not held in one place, but it is instead broken down into thousands of tiny ‘blocks’. These blocks are encrypted using advanced mathematical algorithms and stored on multiple computer servers, linked together in a ‘chain’.

This practice makes blockchain almost impossible to hack. Once a block is added to the chain ledger, it would need the best hackers in the world to alter them as all parties involved in the network have to run algorithms to evaluate and verify the proposed transaction against the existing blockchain. Then if the majority of the parties agree that the transaction is secure and legit, matching past activity, it will only then be granted and encrypted into a block to be added to the chain. This then means that the blockchain then becomes a mutually agreed, highly secure and precise log of activity, which is viewable in real time and is water tight.

So what does this have to do with the property market?

Well, this has the possibility to rejuvenate and change for the good how we do business and how financial markets work. From a purely transactional look, acquiring or selling an asset on the traditional real estate market is not known for being quick and easy, however, blockchain can speed up the slower, more tedious elements of the process. If we look more specifically at the verifying of title deeds. Holding title data on the chain allows quick changes and fast transfers with reduced chance for fraud or error, which could even lower insurance costs. Furthermore, this process could allow funds to change hands immediately and securely from anywhere in the world, taking many of the issues around calculating exchange rates and taxes out of the equation, and minimising the potential for theft or fraud.

When we apply this to property management, it means that rental payments are closely tracked on the blockchain and are traceable in their fullest form, reducing the auditing process and risk for possible mistake. In addition, service charges can be instantly invoiced and paid. A process, which is being heavily pushed with the property giants in the UK, one of the leading commercial property agents Manchester has to offer spoke of how this has been one of the best moves in the industry. The way in which is enables the opportunity of setting up full contracts visa the blockchain – which are digitally signed and automatically enacted – makes processes much quicker and easier for companies. By getting instant rent payments or funds for deposits, it reduces manual admin and time wasted waiting for physical evidence.

Blockchain may be a new concept that is still off being the norm, – and even despite the fact that test are still ongoing for it – it is increasingly being looked at as the solution to some of the most frustrating issues property professionals face.

January 14, 2018 by Greg Underwood

What Jobs Could You Take On In Real Estate?

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Depending on what your passions are, I have always found the best career advice to be that you should follow them. A lot of people end up going in to certain careers because of the money or the potential promotions that are on offer, but they can often find themselves disenfranchised and miserable about their job. If you follow a career which means that you will be doing something that you love, you will have a far greater chance of enjoying your career. Today I want to take a look at the real estate industry, and what kind of jobs you could be looking at in this sector.

Development

If you love real estate then heading into real estate development could be a great move for you, this is a satisfying and well paid job which will see you forge out new developments. This job role is multi-faceted and you could be working on building luxury high rises, or focusing more on creating communities such as what the Terra Group are doing down in Florida. Within this job role you could be working in planning, land acquisition, building plans, community development or any other range of responsibilities within this sector.

Investment

If you feel confident in your your knowledge of the industry and your ability to read the housing market, you could turn this knowledge into a money making opportunity. Investing in real estate is one of the least risky ways of investing and you can use your knowledge and passion for real estate to buy a range f both residential and commercial properties. If you do enter into the world of real estate investment, you will of course be playing with large sums of money so you must have strength in your convictions. IF you are in no rush for big returns you could rent out your properties for long periods of time, and even make your investment back from rent alone.

Estate Agent

The role of an estate agent seems to have a bad reputation but in my experience, these are good people who want to do the best for their clients. There is a stigma attached to real estate agents that they are always trying to up sell in order to line their own pockets but you should ignore this as it doesn’t speak for the majority. Your role as an estate agent will be to ensure that your client finds a home which meets all of their requirements. You must have excellent inter-personal skills and you must also be able to instill confidence in your clients, that you are the person who can find the perfect home for them. This is a job which can be very financially lucrative given that you will make commission, and it will also be highly rewarding personally when you see a family move into their desired property.

If you have a passion, make sure that you turn it into a career.