Buying a House With a View

Homes with a interesting or good view often sell for a premium price above similar homes without the view.

However, if you want to purchase a house with view, buy it mostly for your own pleasure and not as an investment.

Every buyer is different and, what you like, might not have the same appeal to the next buyer.

With that said, a home with a good view normally has a dollar value on the view, meaning the view usually commands a higher selling price.

If you pay a premium for a view that no one else likes, it may take you longer to find a buyer when it comes time to resell the house. You may finish up reducing your asking price to more nearly match other sales prices in the neighborhood.

So, if you are buying a home with a view, try to pay as little extra as possible.

Owning Your Own Home Verses Renting

Owning your own home can have enormous advantages apart from just the financial benefits of owning an asset that will most likely appreciate in value over time.

Owing your own home can provide you the freedom to be in control. If you decide to improve the property, you are one who stands to benefit the most. You not only potentially increase the value of the property, you could end up making it easier to sell (if that is what you want to do), plus you get to live in an environment you have created.

Compare owning your own home to renting where there is little incentive to improve the home. When you rent, you are normally limited on what you can do to improve the home. You have to get landlord permission to make certain types of changes or improvements whereas, with owning your own home, you get to make the decisions.

When renting it doesn't make sense to spend thousand of dollars painting, landscaping the property, putting in carpet or tiles, building fencing, adding window coverings unless you intend to stay renting the property for decades to come.

The problem with renting is that there is usually no long term rental agreement to guarantee you the rights to rent the property for any length of time. Whereas owning your own home gives you the choice to decide how long you stay in the property.

Unless the improvements you make, to a rental property, are for your own medium to longterm enjoyment and comfort, the main person to benefit is the landlord. The resulting improvements you make to the rental property might prompt the landlord to increase your rental or to put the property on the market for sale.

So, if you are renting you need to face facts; your landlord will probably not want to outlay money for major improvements unless there is the opportunity to increase your rental or sell the property for a higher price. Most landlords want to keep expenses to a minimum, so he or she will probably not be spending much to improve the rental property.

Conclusion; owning your own home is usually the best option longer term both financially and from a personal satisfaction point of view.

Owning your own home puts you, the property owner, in control!

10 Ways To Add Value To A Home

Here are 10 potential ways to increase the value of your home for either selling purposes or for your own enjoyment.

But, before we get started, it is important to understand that every property is different and not every one of these points will relate to every property.

It is important to know the market you are in and understand exactly what it is that people (either potential buyers or tenants) are looking for.

Be very clear as to whether you are doing this work for your own enjoyment, or whether it is for the purpose of making the property more salable or valuable.

Your answer to that question may affect how much you ultimately spend and the style of the improvements.

Remember too, that cost doesn't always equate to added value. So it is important to spend money in the right areas and not to over capitalize. Good budgeting and thorough planning are essential if you are to maximize your profits.

Now for the 10 ways you could potentially increase the value of a property.

1. Update the kitchen

The kitchen can be the most expensive room to update, but it can be a critical selling feature of a home. It is usually best to maximize bench space and integrate the kitchen with the living area.

2. Add a deck, patio or outdoor living.

Indoor/outdoor flow can be a big selling feature for many homes.

3. Add fencing.

Consider adding fencing to screen neighbors, or ugly views, or buildings. It is often best to discuss any fencing ideas with affected neighbors and hopefully get a financial contribution to the cost. The style of any fence needs to enhance the style of the home.

4. Improve the garden.

The garden is often the first thing potential home buyers notice. Consider the landscaping. Does the garden need space and order? Do trees or shrubs need trimming or replacing? Does the property need space for children to play or an area for outdoor entertaining? Would the garden benefit from more color or design features? Are the plants suitable for the environment and is the garden low maintenance? Does the garden have street appeal?

5. Add a minor dwelling.

This can be a tricky but very profitable project. Check if local regulation allow you to add a minor dwelling on the land - one with a bedroom, bathroom and small kitchen. Adding a minor dwelling can add value if the existing property is suited to having an additional dwelling on the land (and if it is legal.)

A minor dwelling can maximize the usage of the land, but it would need to blend with the existing architecture. Be aware that an extra dwelling on the land can devalue the existing property, but overall it should increase the value of the total property. Always do your homework before spending any money.

6. Renovate a bathroom.

Just like the kitchen, a bathroom can be a critical selling feature (or buyer turn off) when selling a house. Renovating a bathroom can be very expensive, especially if you need to move plumbing or pipes. And, remember; never skimp on water-proofing.

7. Add a bedroom.

Adding another double bedroom can add value and make a property for salable. Adding a room is usually a lot cheaper if it can be done within the confines of the existing walls rather than extending to the house.

8. Add a garage.

Parking for two cars, or off street parking, is nearly always something buyers look for.

9. Add an extra level to the house.

Adding an upstairs area can improve some houses by adding space and views. It can be expensive and may not be acceptable to local authorities, so always work through the issues before you get started.

10. A quick make-over.

If you are thinking of a quick property sale then a quick make-over might be the easiest and cheapest way to add value. Consider whether it would be worthwhile improving the walls or flooring by updating paintwork, wall coverings, light fittings, carpeting, tiles etc. Always think about what the end user (purchaser or tenant) wants.

I'll finish by repeating what I said at the beginning. It is important to understand that every property is different and not every one of these points will relate to every property. Know what people in your area are looking for and know exactly what will (or will not) add value. And, do your homework and thorough planning and budgeting BEFORE starting any building or renovation project.

Good luck selling.

Here are more help real estate tips.

Two "Killer" Questions To Ask A Real Estate Question

When you are looking at buying a home or visiting an open house for inspection it is important to ask the right questions and keep the real estate agent, or home seller, honest. For example if the real estate agent says that something has been approved (such as an altered boundary line)... immediately ask for proof like "Is there any paperwork on that?"

From my experience it is always best to ask lots of searching questions, but don't answer too many questions yourself. Many real estate agents would rather interview you, than have you interview them.

It is important to test the honesty of the real estate agent and also test his or her loyalty to the home seller (vendor). Don't be afraid to ask difficult questions, especially considering that the right questions could save you from making an expensive mistake and/or save you thousands of dollars.

Now, I'll finish with my 'killer' question that should ALWAYS be asked at the end of visting any open for inspection. ALWAYS, ALWAYS, ALWAYS ask the real estate agent, or realtor, "Is there anything else I should know?"

This one simple question will rattle many real estate agents and could reveal some useful information. It could also put the real estate agent in a difficult position if he or she chooses to withhold information. For example, the agent may reply "Well, now that you ask, there is a legal dispute over the boundary and driveway access with the next door neighbour." Now, that is precisely the type of information you, as a buyer, need to know.

But, that's not all. If the real estate agent answers, "No" to your question, "Is there anything else I should know?", you should immediately reply "Are you sure?"

This reply may flush out the information you need. It may also panic the real estate agent into thinking "this buyer knows something I don't."

Truth is; very few buyers ask those two questions, yet I have found them to be extremely valuable in getting to the facts.

For more information and useful tips be sure to visit http://www.your-real-estate-resources.com/real-estate-agent2.html

Why Commercial Property Investors Usually Prefer Road Frontage

Commercial property investors, developers, and builders usually prefer to buy commercial properties with a major road frontage.

The reason is that a future buyer of the property, be they a business owner or investor, will often choose a property with major road frontage over a land locked parcel, or a parcel with little to no road frontage.

Commercial tenants also usually prefer properties with good road frontage, because visibility and profile can reduce the need for expenditure on other forms of advertising to promote the business.

Use this important fact when you assess commercial properties and the value that they hold.

Price Competitively In A Slowing Property Market

In recent years, sellers were able to set a price and wait for the bidding wars. However these days, a drop-off in buyer demand and rising numbers of homes for sale can make putting a house on the market more of a challenge for homeowners. This is especially so if the homeowner wants to benefit from the gains made in the boom times when a property may have appreciated dramatically in value. The selling homeowner just wants to retain their gains.

In a slowing property market, house hunters can now afford to be choosy. With a growing number of unsold properties on the market, buyers have a greater number of homes from which to choose. If a home is overpriced, a buyer will dismiss it and move on to the next one. Sellers often need to meet the market by lowering their price expectations.

Attracting a shrinking pool of buyers without losing too much financial ground can be tough. It is often best to price a home for sale just below what the market will stand. For example a $500,000 home might be priced at $495,000 to show potential buyers that the seller is serious about selling.

Unfortunately in a slowing property market, it sometimes takes sellers time to adjust to the reality that their $500,000 property is not worth more than the one that just sold down the road for $480,000.

We all like to think that the property we own is better than the one down the road, but buyers might not have the same opinion given such a wide choice of options.

In a slowing property market it is important to price competitively.

Home Buying Tip - Understand Who The Realtor Represents

Clearly understand the roles and duties of various parties involved in the real estate transaction. Especially understand who represents whom. Unless you have a buyer's agent, remember that the realtor works for the seller. Make a point of asking him or her to keep your discussions and information confidential.

These are some of the things you need to check. Remember to arrange a home inspection before you sign a written offer, or include an inspection clause in the offer. A correctly worded inspection clause can provide an 'out" on buying the house if serious problems are found. It can also specify that the seller must fix the problem(s) before you purchase the property. It may also give you the ability to renegotiate the purchase price if repairs are needed.

I strongly suggest you talk with your legal advisor before you buy or sign anything. It is important that you are aware of legal aspects, documents required and regulations etc for buying a property in your Country (or State).

Be Prepared For Calls From Realtors When Selling FSBO

Facing a barrage of calls from realtors wanting to list your property for sale is something you need to be prepared for when selling your house yourself (fsbo). The realtors are only doing their job so don’t get too annoyed or upset. Besides realtors are use to knock-backs and in most cases immune to abuse. Just be polite and tell the realtor that you are handling the sale yourself.
The realtor may even offer some helpful house selling tips and guidance.

Maine Apartment Owners Represents Local Rental Housing Industry

The Central Maine Apartment Owners Association (CMAOA), is a non-profit trade association representing the leaders of the rental housing industry in our community. There are local associations in Augusta, Bangor, Lewiston / Auburn, and Portland, all of which subscribe to the statewide organization: Maine Apartment Owners and Managers Association, Inc.

CMAOA is an advocate for an industry that has a significant role in central Maine, and which affects the lives of thousands of residents who live in rental housing.

CMAOA owner/management company members:

• Represent property with a market value of more than $25 million
• Pay property taxes exceeding $50 million
• Pay general liability and extended coverage insurance premiums of more than $20 million
• Employ an estimated 1,000 full and part-time employees
• Provide housing for more than 10,000 Central Maine residents

CMAOA members are rental housing owners, builders, developers, property management firms, companies and individuals.

Maine Apartment Owners Run Non-Profit Association

The Greater Bangor Apartment Owners and Managers Association, (GBAOMA), is a local non-profit organization subject to the membership at the state-wide level of Maine Apartment Owners and Managers Association, (MAOMA).

The Greater Bangor Apartment Owners and Managers Association was set up to promote communication and cooperation among owners and managers of investment rental property and to educate the public, public officials, legislators, and tenants to the important services being provided.

GBAOMA membership is open to any owner or manager of investment rental property in the Greater Bangor Area, (member) and to any individual or agency concerned in promoting the purpose of the Association, (associate member).

Landlords can join together and learn how to: protect the future of rental property, maximize collections, minimize evictions, operate more efficiently, reduce tenant problems and set-up rental policies.

Persevere When Buying Or Selling A House

Success in anything you do is largely dependent upon drive and perseverance. Buying or selling a house is no different.

As a home seller or home buyer you may at times feel you are just spinning your wheels and going nowhere.

Things don’t always go right and defeat may test you; but it doesn’t need to stop you. If at first you don't succeed, try another way.

Hang in there, because a staggering number of home sellers and home buyers give up just as they are on the brink of success. Remind yourself that tomorrow is another day... things really aren’t as bleak as they seem... and things really will look better in the morning.

Have the attitude that for every obstacle there is a solution. Nothing in the world can take the place of perseverance. The extra energy required to make another effort or try another approach is the secret of winning. The greatest mistake is giving up.

Kansas Landlord Association 2006 November And December Meetings

Meetings of the Shawnee County Landlords Association (SCLA) are always on the third Thursday of the month. The location is the American Legion, 37th and SE Michigan, Topeka, KS. The meetings always start at 7 PM.

November 16 , 2006 Shawnee County Landlords Association meeting at the American Legion. The meeting starts at 7 PM.

December 21, 2006 Shawnee County Landlords Association meeting at the American Legion. The meeting starts at 7 PM.

Don’t Worry Unnecessarily When Buying Or Selling A House

I know that is easier said than done.

There is a big difference between being prepared and worrying yourself sick over what might or might not happen when buying or selling a house. Worry, stress and nervous tension are big problems in this fast paced society in which we live. Most of the things we worry about will probably never happen. Many seemingly unsolvable problems often fix themselves given a little time.

Thinking and then taking action solves problems, but worrying often compounds and magnifies the problem. When buying or selling a house, break problems down into smaller components and deal with each part one at a time.

Buying a house can take time and can sometimes result in disappointment, unless you are prepared to pay an unrealistic price of what you really want.

And, if you are the seller, just keep in mind that selling your house is not going to happen instantly. Selling your house will take time and perseverance. Try and relax, stay focused on your game plan and do the right things necessary to make your home attractive to impress potential buyers. If you are well prepared then you will have more confidence and be more in control.

Home Buying Tip - Making The Offer

When buying a house your real estate agent will assist you in making an offer, which will include the following information:

• Complete legal description of the property
• Amount of earnest money
• Down payment and financing details
• Proposed move-in date
• Price you are offering
• Proposed closing date
• Length of time the offer is valid
• Details of the deal

Remember to always seek proper financial and legal advice before signing any legally binding contract.

Small Kansas Landlords Association With Definite Ideas

The Landlords of Lawrence, Inc. (LOL) serves the Douglas County Area in Kansas, USA.

The stated purpose of The Landlords of Lawrence is to provide a means by which Landlords shall associate themselves to combat urban decay, undesirable non-rent paying and destructive tenants. The Landlords of Lawrence promotes the welfare of Landlords through dissemination of current legislative actions affecting independent Landlords and to assist Landlords with their operations through educational programs.

Any individual who owns or manage property consisting of at least one residential unit in Douglas County, Kansas may apply for membership in The Landlords of Lawrence, Inc. Each applicant is required to:

• Have expressed a willingness to subscribe to the aims and purposes of this association.
• Shall be sponsored by at least two members of the association in good standing.
• Complete and turn in membership application with application fee.
• Managers must manage property of a member of this organization in good standing and will be a non-voting member.

Members of The Landlords of Lawrence share these benefits:

• Receive a monthly newsletter
• Will be a member of the State organization.
• Be kept up to date on all current information.
• Be kept up to date on all new City and State laws.
• Be represented at the City and State levels.

Buying, Selling Or Renting A Property Affected By Lead Based Paints

Many houses and apartments built before 1978 have paint that contains lead (called lead-based paint). Lead from paint, chips, and dust can pose serious health hazards if not taken care of properly.

Federal law requires that individuals receive certain information before renting, buying or renovating pre-1978 housing:

• Landlords have to disclose known information on lead-based paint hazards before leases take effect.
• Leases must include a disclosure form about lead-based paint.
  Sellers have to disclose known information on lead-based paint hazards before selling a house.
• Sales contracts must include a disclosure form about lead-based paint. Buyers have up to 10 days to check for lead hazards.

Home Buying Tip - Making The Offer To Buy

By the time you're ready to make an offer, you should have a good feel of what the property is worth and what you can afford.

How much you offer and the terms of your offer will take into consideration: the price that similar homes in the area have sold for, the condition of the property, how long the property has been on the market, financing terms, and the seller's situation.

What you offer is not necessarily what you'll pay for the property. It is usual for an offer to go back and forth between the buyer and the seller during negotiations on price and terms. So, be prepared to negotiate if you really want the property.

Beware Of This Old Real Estate Agent Trick

Real estate agents generally do a good job, but there are many little tricks, strategies and tactics that get used on unsuspecting home buyers and home sellers.

They are not necessarily illegal or unethical, they are often just methods that are proven to get a desired reaction (or decision) from a buyer or seller.

For example; some real estate agents have a trick of showing the dumpy run-down houses first, so that people will buy the first decent house they see. They keep the best 'til last.

So, both buyers and sellers need to think carefully before making binding decisions. They need to carefully interview and select a real estate agent and be vigilant.

Indiana Property Owners Share Common Goals

Michiana Income Property Owners Association (MIPOA) of Indiana, is an organization for real estate investors. Michiana Income Property Owners Association (MIPOA) purpose is to assist members in achieving their real estate investment goals by providing education, motivation, and the opportunity to meet with other folks with similar interests and experiences.

Michiana Income Property Owners Association provides programs and newsletters with information on various aspects of real estate investing. These help the members increase their knowledge through education. MIPOA also provide a newtwork that investors find very helpful in getting their questions answered and their problems solved.


MIPOA members come from all backgrounds and all walks of life. The common bond at MIPOA is an interest in real estate investing. MIPOA members vary in their investment experience from beginners looking for their first property to full time investors with hundreds of units.

Most MIPOA members are investing in residential real estate. The educational background of MIPOA members ranges from folks who have bought intensive training programs costing thousands of dollars to folks that have learned it all from a few books, their friends, or in the school of hard knocks.

MIPOA also hs members that come from various professions that make up, or serve the real estate industry, such as brokers, real estate agents, trades people, lenders, attorneys, and accountants.

Property Association Divided By Mississippi

The Illinois/Iowa based Quad Cities Rental Property Association, Inc. (QCRPA) describes itself as "the Voice of Professional Landlords within and around the Quad Cities, USA."

Quad Cities is comprised of four cities in Iowa and Illinois divided by the Mississippi River. They include Bettendorf and Davenport, Iowa and Rock Island and Moline, Illinois.

The Quad Cities Rental Property Association, Inc. represents investment property owners and managers living and working in the Quad Cities and surrounding areas.

Quad Cities Rental Property Association membership benefits include:

• Substantial advertising discount (25% or more depending on size and run length of ad) with The Moline Dispatch/R.I. Argus and Quad City Times
• A monthly newsletter with information important to landlords
• Membership Roster upon request
• State Lobbyist in Iowa to protect Landlord interests
• Access to Credit Reporting Agencies
• Sample documents to assist in the rental property business
• Optional online listing of tenants that have been "legally filed upon" for eviction (FED)
• Access to Member's Only area of the QCRPA website to post classifieds, download forms.
• A significant benefit of the QCRPA is considered to be the fellowship realized from networking with others in the rental property business.

All QCRPA meetings are held at The Lodge Hotel in Bettendorf, IA. Board meetings are held the first Tuesday at 7:00pm and are open to the members. General meetings are held the third Tuesday of each month with buffet dinner at 5:45pm, business meeting at 6:30pm, and a guest speaker at 7:00pm.

The informational part of our evening includes guest speakers informing us about topics of interest to those involved in the rental property business. Various topics include: suggested solutions to recurring problems, municipal and state issues related to the industry, and cost saving measures. In recent meetings we have presented panel discussions, city, state, and federal officials, bankers, lawyers, accountants, local experts, and national speakers. An informative presentation by a magistrate and step-by-step descriptions of the process involved in court house eviction has also been presented. The presentations generally last two hours and are designed to be interesting and informative.

Quad Cities Rental Property Association members have found the social period and dinner a valuable part of the monthly meeting, through the interchange of ideas and networking with other QCRPA members.