Posted in
Home Buyers,
Real Estate Investment
Investing in property is always a big decision, especially when the atmosphere surrounding the housing market is as gloomy as the one we have seen over the last year and a half. But just because the news reports are talking about a housing crisis, doesn’t mean there isn’t a silver lining. Housing prices have dropped to five year lows, down substantially from the peak just a few years ago. Suddenly the real estate market doesn’t sound so bad, does it? But there’s more, it turns out this isn’t so much a bad market as a bad time to be selling a home. That’s a good thing for those of us looking to invest.
Some may be leery of investing in real estate after the recent downturn, but the fact that so many homes are on the market and that interest rates are being kept at such low rates means that you are simply not going to find a better market for your investments. Consistently under 7%, interest rates are so low you’re even better off purchasing now than if prices continue dropping, since rates like these are guaranteed to go up soon! Of course that’s not all, the large number of homes on the market means you will get a better home for your price. Spend a little time looking around and you will realize that there are an increasing number of homes with great amenities dropping to lower prices, so your money will go a lot further than it used to.
If you want to play the foreclosed or short sale market, you can also get some great deals, but you may not need to with the rest of the market where it is, you’re going to get just as good an investment property for a bit more, one that will come with less of the risk and work involved in dealing with a foreclosure.
Real estate is consistently one of the best return investments available, so don’t listen to the hype, go out and look and you will realize its time to buy! There’s no reason not to start looking, all you need to do is contact a realtor and you’re on the road to investing in one of the most reliable and safe markets available.
Posted: August 12th, 2008 at 12:08 pm |
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Posted in
Home Sellers,
Home Buyers,
Real Estate Investment
Finding the right person to do work on your new property or on a home you are about to sell is a complicated process. Finding a contractor is easy, there’s probably a couple dozen in your local phonebook, and even more if you look around online. Unfortunately, the large number of contractors means there are plenty who aren’t worth what they charge and whom you do not want to hire. The question becomes, how do you determine if a contractor is up to muster? One of the keys is meeting them beforehand to discuss the details of the project; this will give you the opportunity to see first hand if you are dealing with the kind of professional you want. But even before this, you might want to check out your hire, look into references, etc.
If you already have one or two specialists you trust, say for roofing or plumbing, you should start with them. Ask if they know anyone reliable, because their recommendations are going to be made on a much more professional basis than your neighbors. If you are hiring someone, you should look into references, which most contractors will provide if you ask. See some of their work, ask how the experience of their reference was, and you will get a better idea of whether you want them working on your property. You should also make sure you can easily get in touch with them at a storefront, and that they have a cell phone to stay in touch. Anyone without a physical address or a cell phone is sending out warning signs.
When you go to meet your contractor, watch out for a few other things. You want to make sure they drive a recent truck, kept in good repair. This may seem superficial, but a contractor’s truck is an important part of their business, and if their vehicle isn’t in good shape, it’s a bad sign about their business in general. They should take payment by check or charge, never hire a contractor on a cash basis, as this is unprofessional and a sign you are hiring someone unreliable and potentially unqualified. Finally, make sure your contractor is going to handle the permit process for any large repairs. There is a lot of paperwork involved, and it is required that such papers are filed with local authorities. If the contractor asks you to do it, or suggests not getting a permit at all, you should immediately start looking for someone else, you don’t want to work with someone who doesn’t want their work reviewed by an inspector.
By following these guidelines, you are much more likely to get a reliable and professional worker for your home improvement needs. That means your repairs will be of higher quality and last a long time, exactly what any home owner is looking for when making repairs.
Posted: August 12th, 2008 at 1:35 pm |
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