Dollar House

Stopping foreclosure phase 2

Type in stop foreclosure on any search box on the web and you no doubt will query a string of articles that highlight ways you can negotiate with you lenders, restructure you loans, and usually get things worked out. In a perfect world this would always work, in fact in a perfect world you wouldn’t have to worry about foreclosure at all.

But as we snap back to reality, those of you who have tried the tips and techniques discussed earlier may have realized that the world is anything but perfect. In my first article I discussed many ways to talk to your lenders, what to ask for and who to talk too. But where do you go after you run into a dead end with you lending institution? Well my friend, it’s time to move to Phase 2. If you read my first article you should already be organized as discussed in “avoiding foreclosure phase 1.” You should have also already have started putting aside twenty dollars a week for your “just in case” fund; but if you haven’t start today!

A report by realtytrac.com stated that in 2005 approx. 846,982 properties when into some form of foreclosure. So I?m pretty sure your house doesn’t need to be added to the list. Consider phase 2 the decision phase. I this phase there are some key decisions that Need to be made.

Where are you going to live? What are you going to do? What is the least amount you can take for your
Home.

The rules of engagement for this phase are pretty simple. Talk to your family or whoever is living with you and explain your situation; get input, get feedback then make your final decision. I said it would be simple not easy so if you have been keeping you situation a secret from someone who should know about it it’s time to pay the piper.

Once you have had “THE TALK” it’s time to shift focus back on stopping your foreclosure. In most cases the foreclosure process takes between 3-7 months but really depends on the laws of your state (which you should research) and the aggressiveness of you lending institution. That being said if you have spent the last month or so trying to come to an agreement with you lenders and the conversation ended with you still in the same situation, then it?s really time to get moving.

Lets me put it this way: if you make it to phase 2 from here on out you are focusing on selling your home by this time its either sell your home, or lay down and let your lender put you out, it’s your choice. Since I never go without a fight I’ll assume you don’t either, so you need to decide what is the least amount you will take for your home. This isn’t some pie in the sky number up with; it should be what you owe. That doesn’t necessarily mean that this is what we are shooting for, but you need to have an exit strategy in place.

Also, you need to think about arrangements for where you are going to move, even if you never considered moving before, you should have an idea of where you can go after you aren’t in your home anymore. Since Phase 2 last anywhere from 2-3 weeks now is the time to get aggressive with the saving you are going to need it, save as much as you can afford to.

Now, with that out of the way we’ll move on to the next step

Organization

For those of you who read my first article on stopping foreclosure it’s time to bring out your notebook. If you haven?t read my first article you can read the first phase of avoiding foreclosure on my website listed in the bio box at the end of this article.

Getting organized deals with collecting comparables because you need to find out what houses in your area are going for. This is easy to do, just jump in your car or take a walk around you neighborhood. You are looking for realtor signs and “For Sale” or
“FSBO” signs with literature about that particular home attached.

When you get back from your trip with the info you went after you are going to call local realtors in your area and ask them what homes in your area are going for. The realtor will usually have a list in the MLS that has the most recent homes sold in you area and what the selling price was.

Make sure you are comparing apples to apples here. If you have a one story three bedrooms with 1 1/2 baths make sure you find the selling prices of similar homes. FYI if the realtor that you call is any good he or she is going to ask a lot of questions. You don’t have to tell them your situation but you do need to humor them a bit. And while you are at it have a little fun,? You deserve it.”

After you have your comparables you are going to call your local penny saver and your local news paper. You are collecting classified advertising rates. Many times you local penny saver won?t charge you for listing instead the charge readers for the classifieds. One example of this is the Iwanna, the Iwanna is a local penny saver in my area and they don’t charge one cent to
List.

Now that you have all your information, you are going to need to collect some supplies again if you read the first article I told you to save %20.00 a week for the first phase; this is why. Go to your local hardware store and buy 2-3 bundles of simple wooden ground stakes. You can find them at home Depot for about %6.00 a bundle.

Next you will go to an arts supply shop or even Wal-Mart and buy 10-20 sheets of the ugliest bright neon orange or yellow poster board you can find. These sheets should be 2′x3′ or as close as you can get to it and should only cost around %2.00. If your wondering why the supplies? Well, they are for the for sale signs. (You didn’t think we were going to let the bank
Take your home without a fight did you?)

The reason that you aren’t buying those pre-made signs is because everyone is doing that, you want to look different and I have found that a simple homemade handwritten sign gets much better results when you?re trying to move a house fast.

Now it’s time to automate because you already have enough to think about. This is another crucial step and shouldn’t be avoided. You need to set up a dedicated 24hr hotline to take you incoming call all the details about the line and how to use it will be covered in Phase 3. Just know for now that you are going to need this to take messages for potential buyers when you aren’t at home. You can find hotlines for less than 14 dollars all day long with a simple search on Google.

You are also going to want to have a way to display details about you home to shoppers. Since most Americans can’t just stop working and many realtor won’t touch this time of sale you have to be creative. A blend of a good classified ad with a FSBO website can really work wonders when it comes to collecting leads and scheduling showing times.

This opens up your options and will allow you to have more shoppers and buyers than you could reach otherwise. A service like this should only cost about %59-60 dollars for a 9 month listing. The ideal FSBO website allows shoppers to contact you via email and give you the ability to post pictures of your home on the website. This gives a shopper a better feel for the home than a classified ad would alone. Some FSBO websites actually generate an I.D. number so your buyer can pull up your listing.

Now that you have a list of the tools you need get shopping you should not have to spend more then %200.00 If you think you can’t afford it, buy less ground stakes just don’t skimp on the Hotline or FSBO website.

In the next article we will put it all together structuring a sale that might even make you some money.

James is the webmaster of two great resources that his readers use to help them stop foreclosure and sell their homes faster

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Texas Apartment Market

All Texas metro markets report current overall occupancies above 90%PRCTG%, with Austin leading the market at 93.39%PRCTG%. The lowest occupancy is found in the Dallas/Fort Worth market at 90.35%PRCTG%. Austin also leads the Texas markets in terms of rental rates, reporting the highest rents at %0.930 per square foot (psf). Average rents in the other metro markets are all below %0.870 psf. Monthly absorption was strongest in the Dallas/Ft. Worth market, as 641 units were absorbed in April. San Antonio also posted positive monthly absorption, while the Houston and Austin markets posted negative figures.

Austin Market occupancy dropped 0.07 points over the month, however at 93.39%PRCTG%, occupancy remains 2.10 points higher than in April of 2005. Average rents are currently at %0.930 psf and are %0.002 psf higher than last month and last year’s figures. Absorption dipped into the red this month, as -109 units were absorbed. Annual absorption stands at 3,589 units.

Dallas/Fort Worth Market occupancy is up 0.03 points over the month to 90.35%PRCTG%, and is 1.70 points above last year’s level. Although average rents have remained flat over the last few months at %0.867 psf, they are %0.003 psf higher than the rate seen at this time last year. Monthly absorption of 641 units brings annual absorption up to 13,575 units.

Houston Market occupancy fell 0.27 points to 90.73%PRCTG% over the month. Overall occupancy remains 4.29 points higher than April 2005′s level. Rental rates inched up %0.003 psf over the month and are up %0.027 psf over the year to %0.824 psf, while monthly absorption was -323 units. Absorption over the last twelve months is at 24,542 units.

San Antonio occupancy, at 91.69%PRCTG%, gained 0.08 points over the month and 0.47 points over the year. Rental rates are up slightly over the month, %0.001 psf, to %0.817 psf, which is %0.012 psf higher than last year’s figure. This is the third consecutive month of positive absorption, as 237 units were absorbed in April. Annual absorption totals 3,473 units.

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Tampa Bay Real Estate Bubble Burst? Unlikely

With property prices seemingly on the rise and rising quickly in Tampa, there is a lot of talk about a real estate bubble in the US and dire predictions that the so-called bubble could burst, leading to a lack of confidence on the part of investors and people seeking a second home. But while this talk of a bubble may be true in some parts of America, it isn’t justified in Florida, particularly in the Tampa Bay and Clearwater areas.

Florida as a whole is enjoying a rise in property prices which promises to be a long term trend. There are many reasons for this.

Demand for real estate in Florida is increasing. Homes are being bought for various reasons. Both American and European holiday makers view Florida as a premier summer holiday location and flock there each summer and historical evidence suggests that this figure is rising sharply and is having a major economic impact on the region according to VISIT FLORIDA research.

Historic Visitor Numbers (in Millions)
Year Total
1999 58.9
2000 72.8
2001 69.5
2002 73.9
2003 74.6
2004 79.7

Historic Economic Impact
Total Tourism Spending 1999-2004:
1999 – %44.6 billion
2000 – %48.5 billion
2001 – %48.6 billion
2002 – %49.5 billion
2003 – %51.5 billion
2004 – %57.0 billion

Total State Sales Tax Revenues from Tourism 1999-2004:
1999 – %2.7 billion
2000 – %2.9 billion
2001 – %2.9 billion
2002 – %3.0 billion
2003 – %3.0 billion
2004 – %3.4 billion

Number of Persons Directly Employed by Tourism Industry 1999-2004:
1999 – 826,200
2000 – 842,900
2001 – 864,500
2002 – 862,900
2003 – 871,000
2004 – 912,700

This growth in visitors is due to Florida’s many attractions, many of which are near to Tampa Bay. The superb beaches, the night life opportunities, golf and other sporting opportunities whether playing or being a spectator, the theme parks and adventure worlds, Disney, of course – and the many areas of unspoiled beauty. And, if anything, this annual visitation is set to increase again as the Super Bowl comes to Tampa in 2009. This will be the fourth Super Bowl to be held in Tampa. This has a dramatic effect on our area’s prosperity.

The increasing economic prosperity also makes Florida in general and Tampa Bay in particular a good place to find a job or start a business. In 2004, Florida was ranked #2 as one of the best places in America for start-ups. More and more companies are also relocating their headquarters to Tampa, as well. Tampa is now being called the “Gateway to the Florida High Tech Corridor”, because companies are being offered a matching grant program that has generated more than %120 million in applied research. 225 companies have already taken advantage of this.

The area has relatively low real estate prices and a lower cost of living and higher employment statistics compared to the rest of Florida and to other states in America, despite recent increases. The median value for a home in Florida was %189,500 last year, significantly less than similar homes in California where the median home value was %474,370. (Source: www.investmentu.com/IUEL/2004/20040927.html ). In Tampa Bay, it was less again.

Florida, including Tampa, also enjoys the advantage of having slightly more favorable property taxes compared with other parts of the US, no state income tax and better car insurance rates. The education system has undergone considerable improvement over the past number of years. And the Tampa area also has some of the best commute to work times in the country.

Tampa Bay is perhaps the ideal place not just for the baby boomer buying a second house or holiday home, nor just for the property investor seeking to increase their footprint in the holiday rental market, but also for people starting out in life or those seeking a retirement home.

There have been several new developments in Tampa Bay Florida real estate and Clearwater Beach real estate holdings; the plans for developing downtown Tampa, especially the Rivergate area, are potentially very exciting indeed, according to recent articles in the Tampa Bay Business Journal.

In short, Florida as an area for either relocation, investment or a second home is currently one of the most attractive in America and likely to remain so for some time. Due to the recent economic pressure on the US as a whole there might be a slight slow down in terms of escalating appreciation but Florida remains a great place to come and a great place to invest, especially Tampa Bay real estate and Clearwater Bay real estate, which are right in the heart of the potential growth areas.
No bubbles bursting here, just opportunities galore!

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Ten Real Estate Investing Tips

Real estate investing tips tend to be a bit vague, like “invest in the right location,” or “make sure the numbers work.” Actually, tips like these are important principles to remember. However, since they have been well represented in other articles, I want to share a few more specific tips with you.

1. Listen to the market. The cabinet guy looked to me for a decision. I realized that I knew nothing at all about which cabinets people like, so I asked him which ones others were choosing, and he pointed to one that three quarters of his last forty customers had chosen. That’s the one I want, I told him. Why argue with the market you are trying to sell to?

2. Do your own research. The real estate agent might show you only the comparable sales that make the property look more valuable. Do your own research. Some counties have made it easy now, with sales prices online. You can also search any number of sites with MLS listings, just to get an idea about the asking prices of other nearby properties.

3. Partner carefully. When you do a deal with partners, be the money or the management, but not both. Group decisions tend not to work well in real estate, and will cause you much stress. Once you decide on and agree to a plan, step back if you are investing the capital, and let your partner do his thing. Of course, step up and take control if you are managing the project.

4. Negotiate openly. Just ask a seller outright, “What do you want to get out of this?” It is rare that someone is offended by this simple question, and it saves you from wasting valuable time talking about things that don’t interest him or her. Once you get a clear answer, you can decide if you can give them what they want, and still get what you need.

5. Invest safely. Investing isn’t gambling. There is always risk, but the difference is that the odds are in your favor. If not, you are gambling. This why you shouldn’t invest based on continued price increases. There is no guarantee that prices will continue up at any particular rate. Do deals that work even if prices go nowhere, and if values go up, you’re that much better off.

6. Run the numbers. It is about the numbers, and if it is income property, it’s about one number in particular: cash flow. Whatever the local formulas are, whether gross rent multipliers or capitalization rates or whatever, just be sure that after every last expense you’ll have cash flow from the very first month.

Rules, formulas and real estate tips are really just guidelines. Even the rule above about cash flow can be broken if you know that rents can be raised soon, for example. You have to use common sense and learn from experience, and you can’t replace good analysis with rules, formulas and real estate tips.

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Tgr asia, Developers of jumeirah private island phuket commence

HONG KONG (Insert date) – Jumeirah Private Island Phuket, Asia Pacific?s most exclusive development is scheduled for completion in 2009 and set to offer levels of luxury, privacy and security as yet unseen in Asia Pacific. It will also be home to an elite super yacht marina and the private members only Jumeirah Private Island Yacht Club.
The super yacht marina will have 101 berths and will offer true ?super yacht? facilities with 24 hour deep water access. The marina will double the number of designated ?super yacht? berths in Thailand (thailand property, thailand homes), with 7 slips measuring in excess of 45 metres and an average slip length of over 22 metres.
The marina, located in a protected lagoon on the east coast of the island is surrounded by tropical mangroves, and will be built to top international standards. The marina will include facilities such as helicopter and/or ferry access to and from Phuket, fuel dock with pump out facility, yacht maintenance and repair services and individual berth technology pipes.
The Jumeirah Private Island Phuket Yacht Club (megayachts phuket, islands phuket, mega yachts phuket, phuket islands) is planning to host regattas and black tie functions and will offer a range of facilities; club house, swimming pool, accommodation, formal and informal waterfront dining, business centre and fitness centre.

The benefits of berthing in Phuket (phuket property, real estate phuket) include fuel, crew and dockage costs up to 80 percent cheaper than Europe and no luxury yacht taxes.
TGR contact : Anthony Franklin ? Partner, Marketing Director.
Note to editors:
TGR
TGR Group develops and markets award winning luxury hotels and resorts. The management team has over 100 years combined experience working with leading, global construction companies and a successful track record across three continents.

Jumeirah

Jumeirah properties are regarded as amongst the most luxurious and innovative in the world and have won numerous international travel and tourism awards. The rapidly growing Dubai-based luxury international hospitality management group encompasses the world renowned Burj Al Arab, the world?s most luxurious hotel, the multi-award winning Jumeirah Beach Hotel, Jumeirah Emirates Towers, Madinat Jumeirah and Jumeirah Bab Al Shams Desert Resort & Spa in Dubai, the Jumeirah Carlton Tower and Jumeirah Lowndes Hotel in London and the Jumeirah Essex House on Central Park South in New York.

The Jumeirah Group portfolio also includes Wild Wadi, regarded as one of the premier water parks outside of North America and The Emirates Academy of Hospitality Management, the region?s only third level academic institution specializing in the hospitality and tourism sectors.

Building on this success, Jumeirah Group became a member of Dubai Holding in 2004, a collection of leading Dubai based businesses and projects, in a step that aims to initiate a new phase of growth and development for the group.

Jumeirah?s ambitious expansion plans to grow its portfolio of luxury hotels and resorts worldwide to 57 by 2011 are well underway with projects currently under development in Dubai, Abu Dhabi, Aqaba, Doha, Phuket, Shanghai, Bermuda, Mallorca and London.

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