‘Real Estate’

Siesta Key Real Estate: Experience In A Year-Round Equatorial Vacation Status

Thursday, March 13th, 2008

Located offshore of the city of Sarasota and only a relaxing and short drive over the connecting North Bridge lies a wonderful, pristine eight-mile-long sub-tropical barrier island called Siesta Key. This resplendent area is an island that is settled in the cool, clear waters of the Gulf of Mexico, and is seen as a place one would imagine a perfect vacation destination would be, or even better, the perfect place to live and enjoy living all year-round.

The Beaches Are Just A Short Stroll From Modern Amenities
Residents and tourists here enjoy taking a barefoot stroll along the powdery white beach, a refreshing swim in the calm aqua waters of the Gulf, or a visit to either of the Key’s two main shopping centers, where buyers can find wonderful items ranging from fashion accessories, souvenir T-shirts, paintings and other art work, and also enjoy an evening of fine dining, relax at a nice an cozy *censored*tail lounge, and probably think of settling here for good.

The area’s real estate options offer investors a wide variety of housing choices, from luxury and upscale hi-rise condominiums that offer wonderful views of the Gulf of Mexico, to lavish waterfront estates set in a wonderful tropical surrounding, to more modest but lovely and cozy bungalows.

The area’s rise to fame has risen so fast that in only a few years, the island has become a wonderful haven for the elegant, opulent and tastefully-designed housing options, that range from waterfront estates, town homes, apartments and condominiums.

Residents Here Have Access To Wonderful Facilities And Amenities
The key’s residents and tourists are afforded complete and easy access to the area’s marinas, which offer boat rentals, charter fishing trips and guided water tours, as well as other watersports activities. In this locale, the residential developments here have facilities for docking boats and other pleasure craft.

Prospective home buyers in Siesta Key can choose from buying simple one-bedroom condos or standard bungalow and single-family units, to opulently designed waterfront properties, the prices may vary, but most home developments here start from $300,000 and go up to a million dollars or more. However, there are home developments that are available to suit every lifestyle and budget. Most of the beach front in this area is now lined up with condos.

In a recent study done by the University of Florida, it was noted that almost one in four individuals aged 55 and older who moved full-time to the Sunshine State between 2000 and 2003 started out as people taking a breather from harsh winter conditions in other areas. In addition, 30 percent of current winter vacation tourists have noted that it was likely or very likely, they would move to Florida year-round at some point.

The study also added that Florida led the country in the number of winter residents, with about 818,000 tourists in 2005, followed by Texas and Arizona. The winter residents also contribute billions of dollars to the local economy. However, with spiraling property taxes and the threat of hurricanes, Florida now faces stiff competition from other states that are starting to become attractive to retirees and young families, such as Georgia and the Carolinas.

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Ocala Real Estate: Purchase Homes In A Sensible & Riotous Country Service

Thursday, March 13th, 2008

The city of Ocala prides itself with being in the crossroads of Florida. The city is known for its lush rolling green fields, and the large concentration of equine horse arms, which gives it the title of being the “Thoroughbred Capital of The world.” Aside from having a lush green natural setting, the area is also famous for offering residents and newcomers a healthy array of real estate choices to choose from, ranging from affordable bungalows, single-family homes, apartments, town homes, condos and even sprawling estates. The city as well as Marion County also offers residents and visitors many outdoor recreational activities and amenities, with its wide array of parks and recreational facilities.

The County Has A Large Number of Parks And Recreational Centers

Marion County’s parks and recreation system has around 45 facilities to offer tourists and outdoor enthusiasts, ranging from boat ramps to softball fields, beaches, nature and conservation areas and even dog parks.

Some of the county’s recreational facilities offer free entrance, while some charge a small entrance fee, and many offer annual passes. The Rainbow Springs State Park in Dunnellon has the state’s fourth largest spring, and is headwaters are popular destinations for canoing, swimming, snorkeling and kayaking on the Rainbow River.

Is It A Buyer’s Market Here Today?

According to real estate industry observers, the median price of homes for the second quarter of 2007 was pegged at $170,900, and this represents a slight increase from the recorded price of $169,500 for the same period last year. The National Association of Realtors also noted a U.S. median home price of $223,800 for the second quarter of 2007, as compared to $227,100 for he same period last year.

For the state of Florida, the median price for the period was $221,200, which was down from $243,300 for the same period last year. According to some local property observers, the area’s housing market is still being relatively seen as a buyers market. Sales are off quite a lot when compared to the figures in March 2006, when 614 homes were sold.

There is still a a glut of newly-completed but vacant homes, as these were bought by investors who intended to flip them but have now been caught with houses they can’t sell. According to industry watchers there are around 6,869 homes listed on the Ocala Marion County MLS as of the last quarter of 2007. Homes here that are selling, are at present priced and in the mid to lower price range, and well-priced residences are selling close to their asking prices.

So would this be a great time to buy a home here? Some say yes, while some say that it’s still too cautious to say yes. It would all depend on you to decide, however be on the lookout for some excellent and wonderful deals out there, since at the moment, interest rates are near historical lows.

Currently, the median price for homes in his city and county are already the 2nd lowest in Florida, therefore there’s tremendous potential for home value appreciation over the next several years.

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The 5 Simple Steps of Real Estate Investment

Thursday, March 13th, 2008

If you are new to real estate investment, you might be finding all of the information that you need to know a bit confusing. However, by following these five simple steps, over and over again, you can put yourself in the best position to complete as many transactions as possible and realize amazing profits just like the seasoned professionals do.

Locating Property
Locating property to make offers on isn’t as hard as you might think it would be. You can even build up a network, over time, which will have people calling you about their property. However, in the meantime, think about the groups of people who would most likely be looking to get out of their homes. These include: people in pre-foreclosure situations, people in foreclosure, those who have recently been divorced, and those who have purchased a new home and have yet to sell their old one. You can buy lists, look at your county recorder’s office, and even scour the local newspapers for potential properties.

Pre-Screen Your Sellers
One of the most important steps in this process is to pre-screen your sellers well. By doing this, you can save yourself from a lot of unnecessary grief down the line. You need to make sure up-front that you can make a good deal with the seller. In addition, you also need to make sure that the deal works out well financially for you at the same time.

Make Good Offers
Once you have pre-screened your sellers, and are looking to make an offer, make sure the offer is a good and reasonable one for all concerned. Don’t insult your potential seller with a horribly low offer; you will simply turn them off to working with you. By the same token, insure that working a deal with them will ultimately make you money. You are in business to make money, not to be a free service to anyone.

Just as important as making good offers is making offers themselves. Many people new to the real estate investment business make the mistake of sitting back and waiting far too long before they make an offer on a piece of property. Make the offer, and then learn as you go. The best way to learn is always by doing.

Fund the Deal
Once you have secured the contract to buy a piece of property, then it is time to fund your deal. Funding can be had through a traditional bank or lender, through private money, or if all else fails there is always the option of hard money. Find the funding source you will be working with an make sure you have the funds to bring to the closing table.

Close the Deal
Closing the deal generally brings you to your payday. Make sure that you understand the closing process and do everything within your power to bring your deals to a quick and complete close. Once your deal closes, you will either get paid a nice chunk of money or you will own a new property; either way, you have to close to get there.

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The Risks of Real Estate Investing

Thursday, March 13th, 2008

Everyone would be a millionaire if real estate investing were 100% risk free. No one would have any reason not to invest. Only those real estate investors who are not afraid to face risks and know how to deal with them will be successful in real estate investing. If you want this to be you, take a little time to learn the risks involved with investing in real estate.

Potential for Negative Cash Flow:Â Like many other investments, real estate has the potential to create losses. Whenever you complete a deal with less money than you started with, you’ve created negative cash flow. And too much negative cash flow can leave you broke.

So it’s very important that you know how to find and analyze a good real estate investment. If this is a skill you are working on, you can reduce your risk and save some time by using the services of a real estate investment firm.

Availability of Funds:Â One of the primary barriers of investing in real estate is the lack of funding. Even though you can invest in real estate without using your own money, you still need to have money from somewhere. There are many creative ways of getting other people’s money (OPM) to complete a transaction, and many good books have been written on the subject. One of the latest incarnations of OPM has been the use of corporate credit.

Time Constraints:Â Some types of investments require more time than others, for example distressed and rehab properties. Other types of investments require you to be available during business hours. If your regular job demands most of your time, you might find it difficult to make time to invest in real estate. Understand the time involved with the various types of real estate investments so you can plan your schedule around your investing.

Need for an Exit Strategy:Â Before you go into a deal, you need to have a feasible plan for getting rid of your investment property. Note the word “feasible.” Your exit strategy has to be logical and doable; otherwise, it’s not a very good exit strategy. Your plan may be to fix-and-flip the property right away, or it may be to lease-and-hold for 10 years.

Be sure to invest with a clear and specific exit strategy in mind. And always have a contingency plan in place in case situations come up that are out of your control.

Real estate investing, like any other form of investing, has some potential risks. On the positive side, these risks are associated with the potential for high returns. But with proper planning and ongoing education you will be successful as a real estate investor.

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Top 7 Reasons to Invest in Lake Tahoe Real Estate

Thursday, March 13th, 2008

Even in a plunging real estate market, you can profit from investing in real estate if you know where to invest your dollars. So, do you know where you should be investing right now in this challenging real estate market? The answer: Lake Tahoe real estate. Here’s why you should invest in Lake Tahoe real estate, especially in the South Lake Tahoe area.

Investing in Lake Tahoe Real Estate Reason #7: Ideal Weather Conditions & Year Round Recreation Attracts New Buyers.
Summer tourists in nearby Sacramento and Reno experience temperatures in the 100’s. The Bay Area is socked with fog. Lake Tahoe generally enjoys highs in the low 80’s. And, don’t let the fact that Lake Tahoe is known as a world-class ski destination fool you into thinking that the winters are uncomfortable. An average January day ranges from 15 – 41 degrees with brilliant sunshine compared to Vail (0 – 31,) Jackson Hole (5 – 28,) and Stow (1 – 25.)

When a storm comes it drops the snow and leaves us basking in sunlight. In fact, the sun shines approximately 275 days a year. This allows Lake Tahoe to offer the complete selection of recreational activities all year round

Unlike most ski or golf resorts, Lake Tahoe has something for everyone. The pristine blue waters and sandy beaches provide swimming, fishing and sun bathing. Boating opportunities range from kayaks to sailing to motors. The forest and mountain trails draw hikers, bikers, rock-climbers, snow mobiles, snow shoes, cross country skiers and campers. Golf resorts range from lakeside to high desert. Photographers, painters and artists of all mediums flock to the area.

Investing in Lake Tahoe Real Estate Reason #6: Real Estate’s Rolling Boom Effect
When an area is experiencing high real estate activity, investors should look to the surrounding areas for the next wave of activity. The Lake Tahoe real estate market benefits from the surrounding Reno, Sacramento, and overall San Francisco Bay communities. We are receiving reports that increased real estate activity in the area and values are stabilizing.

With today’s’ inventory surplus, low interest rates and the news blasting daily “doom and gloom” reports, sellers are more willing to negotiate now.

Investing in Lake Tahoe Real Estate #5: Baby Boomer Are Buying Lake Tahoe Real Estate Now
Baby Boomers are the driving force behind the resort market industry and they have only just begun to invest. Many baby boomers are now inheriting various levels of wealth from senior family members. At the same time, they are in their peak earning years and investing actively in second homes and retirement homes.

They are searching for second homes near beaches, lakes, ski resorts and golf courses. Lake Tahoe is one of the few second home destinations that can offer all three.

Investing in Lake Tahoe Real Estate Reason #4: It’s Affordable
Reasonable pricing is one of the key reasons to invest in Lake Tahoe real estate. According to the South Lake Tahoe Association the price for a single family home within Lake Tahoe’s South Shore is less than half than homes in Vail, Aspen and Jackson Hole.

Investing in Lake Tahoe Real Estate Reason #3: Opportunities for Supplemental Income
Lake Tahoe is a world-class vacation destination. Vacation rentals bring in subsidized income which can help cover the costs of your Lake Tahoe real estate investment. When a home offers the “Tahoe Look,” dwells within a desirable location (near outdoor recreation) and includes amenities such as a hot tub or pool table, demand automatically increases.

For example one of our current listings, a 6 bedroom contemporary home has averaged an income of over $125,000 for five years now.

Investing in Lake Tahoe Real Estate Reason # 2: High Demand and Strictly Limited Supply
In a nutshell, there is no chance of real estate over-development having a negative impact on the value of Lake Tahoe homes. Generally, supply is low and demand is high.

During the 2004-2005 “boom,” investors and developers were throwing up houses at break-neck speed in hopes of huge profits. When this market came to a screeching halt, these areas were the first to see foreclosures. In Lake Tahoe, supply will always be in the favor of the investor because Lake Tahoe real estate is an environmentally protected area. That means growth is strictly limited.

And, the # 1 Reason to Invest in Lake Tahoe Real Estate: Improve Your Quality of Life:
Would You Rather Watch Your Investments or Live Them? Everyday, we hear those who have invested in Lake Tahoe real estate praise the benefits gained through living a less stressful and more joyful life. These benefits include better health, longer life, better relationships, and so forth.

How does this relate to investing?

Think about it. Wouldn’t you rather watch it grow while relaxing on the beaches of Lake Tahoe rather than pulling your hair out in front of your computer? You can watch arrows going up and down or you could ride the chair lift up and swish your way down. You can listen to computer chimes or you can listen to the wind in the pines.

What could be better than wrapping “quality of life” and long term investments into one “full benefits” package? Robert Frost inspired us to unite vocation with avocation. Investing in Lake Tahoe real estate is just such a venture. The pay offs can be huge.

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