Investing in property can be a very wise or very poor decision. It's all about the market, and what sells. In fact, it's similar to stocks. You need to know all the factors at-hand before you go all out and purchase a house or piece of land. Well, that is of course, unless you're just planning on keeping it for yourself forever. That's a different story. Anyway, how can you get in-the-know when it comes to real estate and property value? That's an easy one. You can either take a class on real estate, or you can get informed by surfing the World-Wide-Web. Soon you will know all about New York, New Mexico, Alabama, North Dakota, and Michigan real estate. The facts are at your fingertips, ladies and gentlemen. It just takes a little elbow grease.
What do you know about Michigan real estate? This is one of the New England states that I've been keeping a close eye on lately. You see, I am struggling to find that ideal location where I can raise my daughter and keep her safe from any and all harm. Okay, so maybe I'm slightly dreaming there, but some areas are certainly better than others. Anyone, whether they're in the real estate business or not, would have to agree with this. I am not positive if Michigan real estate is exactly what I want, but it's difficult to say at this point. I won't literally know until I've evaluated all other competitors. Things you also should keep in mind when searching through Pennsylvania, Maryland, Vermont, and Michigan real estate is the amenities. Does the specific area you're scouting have all that you need and desire as far as arts, shopping and culture go? Furthermore, do you have children? If the answer is yes, then you'll probably be more interested in Michigan real estate that offers good school districts. No parent wants to deprive his/her child of a good education. Then there is the crime rate. This can often be broken down into personal and property. Therefore if you are considering Michigan real estate, then it's time to view the statistics. How many crimes are committed each year on individuals? These are most likely violent. Then, how many crimes are committed toward property. These can consist of property damage or theft. There are definitely many things to consider before purchasing Michigan real estate, or any real estate for that matter.
Wednesday, March 26, 2008
Investment opportunities
We live in a world with uncertain investment opportunities. Although people put a tremendous amount of effort into buying and selling, they make the wrong decisions as often as the right ones. About a year ago, I was just getting into business myself. I was talked into buying land by someone who'd acted like they knew what they were doing. He told me that buying real estate was the surest investment that there is. Buying and selling real estate, you're almost guaranteed to make a profit – or so he told me. Although real estate investing is an extremely good opportunity, I wish I had known some things then, before I got involved. You should never make an investment, whether you buy real estate, stocks, futures, or some other commodity, without knowing what you are doing.
You see, real estate buying is as complicated as any other area. It is true that buying real estate in the long term will tend to profit you. The population continues to grow, people continue to develop property, and property values continue to go up. If you buy real estate, you have a number of advantage. Buying real estate allows you the option of developing the land or holding on to it to see if its value goes up. Once you develop it, you can rent the buildings out, sell them, or use them for your own purposes. Buying real estate makes it easier for you to start your own business because it can furnish you with a location.
Still, it is important that you don't treat it like it is a sure thing – like nothing can go wrong. Nothing is a sure thing. There are no perfect investments, and even buying real estate can have its problems. In my case, I was talked into buying real estate in a decaying inner city. There was an urban renewal going on, and I thought that I would take a chance and see if my investment paid off.
It didn't. I could barely rent the building out, and the upkeep costs were more than what I was making. Although I eventually made a profit buying real estate, it took me much longer than if I had made shrewd investment from the beginning. No matter what anyone tells you, buying real estate in a bad area is a bad decision. Unless you have some compelling reason to believe that things are going to change very dramatically and very quickly, stay away from it.
You see, real estate buying is as complicated as any other area. It is true that buying real estate in the long term will tend to profit you. The population continues to grow, people continue to develop property, and property values continue to go up. If you buy real estate, you have a number of advantage. Buying real estate allows you the option of developing the land or holding on to it to see if its value goes up. Once you develop it, you can rent the buildings out, sell them, or use them for your own purposes. Buying real estate makes it easier for you to start your own business because it can furnish you with a location.
Still, it is important that you don't treat it like it is a sure thing – like nothing can go wrong. Nothing is a sure thing. There are no perfect investments, and even buying real estate can have its problems. In my case, I was talked into buying real estate in a decaying inner city. There was an urban renewal going on, and I thought that I would take a chance and see if my investment paid off.
It didn't. I could barely rent the building out, and the upkeep costs were more than what I was making. Although I eventually made a profit buying real estate, it took me much longer than if I had made shrewd investment from the beginning. No matter what anyone tells you, buying real estate in a bad area is a bad decision. Unless you have some compelling reason to believe that things are going to change very dramatically and very quickly, stay away from it.
Tuesday, March 11, 2008
Potential Real Estate Market References
According to the National Association of Realtor's, 74% of an agent's potential clients are generated by a referral from a trusted source. However, very few of these referral actually become clients that will buy or sell with that agent. The reason for this is that most agents just do not properly follow their leads.
For example:
Like most agents, most of your leads are probably given to you while you are in the field while farming for instance and you probably jot them down on the closest piece of paper, post-it, back of an envelope, or even on the back of one of your cards only to be forgotten or misplaced. You may eventually ask yourself, "Where did I put that lead?" And if you ever do find or remember, it's generally too late to take advantage of. Not to mention that your friend or associate that first gave you the lead will find out you never followed up on it. You can kiss the idea goodbye that they'll ever trust you with another referral.
To make the most of your leads, first you need to stop thinking of them as leads and start thinking of them as dollars. Losing a lead is just like loosing a commission that could be worth $4,000 or more. After you start looking at things from this perspective, you'll be more responsible with keeping tract of your leads.
Now for strategy:
You first must get yourself organized. Establish a place to write them down. Whether it is a notepad or a PDA, just make sure you have them in one easy to manage source. Once you have a place to put them, develop some sort of a note keeping format that will ensure you have all the information you need.
For example: Name, Address, Phone, Buyer/Seller, General Notes, etc.
Convert those Leads while they're hot. A cold lead isn't worth the paper it's written on. You need to make contact A.S.A.P. and make sure you become the brand name Realtor in that persons head before someone can beat you to the punch. Keep the hottest leads (people looking to do something now) with you and contact them throughout the day when you have some down time.
For example:
Like most agents, most of your leads are probably given to you while you are in the field while farming for instance and you probably jot them down on the closest piece of paper, post-it, back of an envelope, or even on the back of one of your cards only to be forgotten or misplaced. You may eventually ask yourself, "Where did I put that lead?" And if you ever do find or remember, it's generally too late to take advantage of. Not to mention that your friend or associate that first gave you the lead will find out you never followed up on it. You can kiss the idea goodbye that they'll ever trust you with another referral.
To make the most of your leads, first you need to stop thinking of them as leads and start thinking of them as dollars. Losing a lead is just like loosing a commission that could be worth $4,000 or more. After you start looking at things from this perspective, you'll be more responsible with keeping tract of your leads.
Now for strategy:
You first must get yourself organized. Establish a place to write them down. Whether it is a notepad or a PDA, just make sure you have them in one easy to manage source. Once you have a place to put them, develop some sort of a note keeping format that will ensure you have all the information you need.
For example: Name, Address, Phone, Buyer/Seller, General Notes, etc.
Convert those Leads while they're hot. A cold lead isn't worth the paper it's written on. You need to make contact A.S.A.P. and make sure you become the brand name Realtor in that persons head before someone can beat you to the punch. Keep the hottest leads (people looking to do something now) with you and contact them throughout the day when you have some down time.
Real Estate Market Rates In South
Driven by strong demand from multinational companies, banking and financial sectors, commercial rental values in the Central Business District (CBD) of Chennai have increased in the past 12 months. Notably, the Chennai CBD comprises Nungambakkam, Salai, Anna Nagar and Adyar areas. According to city-based property brokers, most of the companies look for A Grade quality office space in Chennai and expect robust infrastructure around their office.
The real estate developers operating in Chennai commercial real estate space observe that Old Mahabalipuram and Guindy are among the most preferred commercial areas for IT/ITES companies. Most of the companies are coming to these regions and the real estate values are likely to take a ride over these trends. As per studies, rental values of commercial properties viz. offices and shops located at CBD region is reported to have the highest rental values at around Rs 45-55 per sq. ft. These rental values decreases off CBD region of about Rs 35-40 per sq. ft.
At present, commercial rental value in Chennai varies from Rs 30-55 per sq. ft, which is about 5-15 per cent higher as compared to last year.
Residential property
Chennai properties around the south-west part of the city are likely to enjoy a northward rally in the next couple of years. The business opportunities created by the modernization of airport would boost the property values in the areas around the facility.
According to the property experts, the areas of Guindy and Vela Chery would be among the most-benefited. Besides, the property prices in Chennai's Saidpet area are also likely to go up as the airport project would progress.
As far as investment opportunities in Chennai Real Estate are concerned, investors can delve for investing in properties around Inner Ring Road as it connects the central city localities like Kodambakkam and Mambalam with the airport, and is likely to reap rich dividends in the near future.
The real estate developers operating in Chennai commercial real estate space observe that Old Mahabalipuram and Guindy are among the most preferred commercial areas for IT/ITES companies. Most of the companies are coming to these regions and the real estate values are likely to take a ride over these trends. As per studies, rental values of commercial properties viz. offices and shops located at CBD region is reported to have the highest rental values at around Rs 45-55 per sq. ft. These rental values decreases off CBD region of about Rs 35-40 per sq. ft.
At present, commercial rental value in Chennai varies from Rs 30-55 per sq. ft, which is about 5-15 per cent higher as compared to last year.
Residential property
Chennai properties around the south-west part of the city are likely to enjoy a northward rally in the next couple of years. The business opportunities created by the modernization of airport would boost the property values in the areas around the facility.
According to the property experts, the areas of Guindy and Vela Chery would be among the most-benefited. Besides, the property prices in Chennai's Saidpet area are also likely to go up as the airport project would progress.
As far as investment opportunities in Chennai Real Estate are concerned, investors can delve for investing in properties around Inner Ring Road as it connects the central city localities like Kodambakkam and Mambalam with the airport, and is likely to reap rich dividends in the near future.
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