PropertiesMagazine.com Real Estate Blog

Cassie


I just updated my sims 3 and I noticed there’s an option when you use the phone or computer to check real estate. I bought thatdiner for 24,000 but it says there’s no collectible profits so how do you make money exactly??

sewbynette


What is the usual commission for the salesperson in an estate sale?

Sherri S


Does anyone know the Florida real estate laws regarding giving a house as a gift? Can it be done? If so, what are the tax penalties?

My parents own the house that I currently live in. If they wanted to give the house to me as a gift can that be done legally if the house is paid for?

Thanks!
Thank You

the house was purchased in 2005 for $148K. It is probably worth less now because of a serious drop in the local market.

Neha Chawla




Ahmadabad, the capital city of Gujarat, is emerging as a hotspot real estate destination. According to a survey conducted by Indicus Analytics, it is among the top ten alpha cities in India where one can reside, earn and invest. Because of its close proximity to commercial capital of the country i.e. Mumbai, it can easily access western and Middle East markets. The city has come up with many new shopping malls, multiplexes and skyscrapers, healthcares. Besides that, the city is witnessing a major construction boom.

 

Residential areas like Sabarmati, Vastrauram, Satellite, Ambavadi and Chandkhera are in great demand. Commercial areas like C.G road, S.G highway Satellite, Vastrapur etc, because of their prime location, boast of high real estate sales. The residential rentals also peaked 2007 but in last six months, due to economic slowdown, they have come down by 25 percent. So, situation now is favorable for tenants as they can bargain more and can ask for discounts looking at the current market scenario. Mr. Bhatia, a real estate consultant, has told his clients not to let go their existing tenants otherwise it would be difficult for them to find new tenants at this point of time.

 

The rental values for 2- BHK are steady as there are not too many 2-BHK apartments in the city. The rental price for 2 BHK range from Rs.5000-7000 per month where as for a fully furnished two BHK in prime location, the rental price is Rs.7000-17000 per month. In other segments, monthly rentals are declining but rental prices for 2-BHK are still holding firm. The rental prices for 1BHK costs between Rs.6000-8000 per month and 3-BHK rentals costs starts from Rs.12000 and Rs.15000 to Rs.1,00,000 in case of a fully furnished apartment.

 

Government of Gujarat is laying more emphasis on building privatizing ports, integrated townships, big way, technology parks, and education-based townships, medical and healthcare townships, tourism-related townships, Logistics Park and residential townships. Because of infrastructure development, the overall development of the city has lead into boasting of real estate sales. Also, other factors like metro rail planning in the city and NH-8 highway connecting Delhi to Mumbai passing through Ahmadabad and upgrading the highway under BOT(built ,operate and transfer) has also lead to improved its connectivity with neighboring states thus increasing Ahmadabad property sales.

 

The upcoming sectors in Ahmadabad real estate are retail and IT/ITES as many MNCs have shifted to the city and thus demand for residential and commercial property is increasing. Many builders and developers are coming up with new projects in the city – Adani group is planning to come up with Mega Township near Nirma University with overall cost of project to be estimated about Rs. 2000 crore plus on SG highway. Heritage group is also planning to come up with all kinds of projects including bungalows, farmhouses and service apartments. Moreover, the prices of property in Ahmadabad are reasonable and quiet affordable as compared to other tier-II cities and the realty market is quite stable and has not suffered much due to the economic slowdown.

Dennis S


I have just passed my real estate sales agent exam and I need to find a broker to work for in the Los Angeles area. What kind of things should I be looking for in choosing a broker to hang my license with?

ggprovision05


As of now, I am finishing up my last semester of college with a major in Business Administration. My plan is to attend San Diego State University and obtain my Bachelors Degree. During that time period I will be working as a Real Estate Agent. I would like to eventually go to a Law School focusing on Real Estate Law. At that time I would like to have already become a broker of my own Real Estate Company. What should be my next step in this path to fulfill becoming a Real Estate Lawyer/Attorney?

Tom


to business there is marketing, accouting, economic, ect. How would you break real estate down like that? I want to start studing real estate at home, and I need to know what to study?

highspirit318


My 1st attempt was a failure. I did not reach the score of 77% – the NJ real estate exam was so different from the certification, it seemed very different than what I was expecting & prepared for.
Any suggestions? I try one more time next week.

Thanks so much!

Joseph Kayode




A real estate appraisal also known as a property valuation surveyor or land valuer is the practice for evaluating the worth of the real property on ground, usually its market value, value-in-use, insurable value, investment value and liquidation value. These are to be done to know the right value of a property before decisions are made.

A real estate appraisal is highly important to investors. An appraisal is a third party that will come in and decide upon the worth of a property. He will oversee the interior and exterior of the property and other properties in the area and then will proceed to determine how much the property will worth. An appraisal is done for both the buyers and sellers because, while the buyer does not want to overpay for a property, the seller does not want to sell his property for less than its worth. It is highly advisable to buy or sell a property after it has been valued by an appraisal.

Property valuation is performed by an approved or qualified appraiser (also known as estate valuer or land valuer in most countries and in British English as a “valuation surveyor”).

The real estate appraisal is done using various methods such as: cost method, income method, and sales comparison method.

Cost method involves the estimated cost of improvements in the property, value of the land and deterioration factors.

Income method is used to value commercial and investment properties. This approach is generally considered the most applicable valuation technique for income-producing properties.

Sales comparison method compares the sale prices of similar properties that have been sold recently.

Doing a proper appraisal with various methods explained above will help you to know the right value of a property in order not to overpay for a property or sell property for less than it’s worth.

Peter Vekselman




Real Estate Wholesaling Overview

What is a Property Locator?

Determining After Repair Value (ARV)

Real Estate Wholesaling Overview

The Wholesale Real Estate business has been around as long as people have bought and sold real estate. In good times and in bad, there is always money to be made buying real estate at a discount and selling it for more than what it’s paid for.

A true Real Estate Wholesaler purchases real estate as low as possible and resells it at a higher price to other investors. Typically, the investors that purchase from a wholesaler are in either the retail or rental business. This means that once the investor purchases the property from the wholesaler, they will make necessary improvements to the property and then either rent it out, or sell to those who wish to live in it.

Most Wholesale Investment companies hire what’s known as a Property Locator to identify, locate, evaluate, and secure discounted real estate. Once the Property Locator secures a deal that meets the investors buying criteria, the investor quickly purchases and resells the property for more than what he/she paid.

Commissions are generally paid in one of two ways. The Property Locator is paid a flat commission when the wholesale investor purchases the property, or the Property Locator gets paid a percentage of profit based on the resell of the property.

Whether you’re a Property Locator or a Real Estate Wholesaler, there’s a lot of money to be made in the real estate investment industry.

What Is A Property Locator?

A Property Locator identifies, locates, evaluates, negotiates and secures discounted real estate for an investor to purchase. Property Locators use the following three factors to evaluate a piece of property.

After Repair Value (ARV)

Cost of Repairs

Wholesale Property Price

All properties are evaluated and offers made based on the above factors. A property is only a “good deal” if it can be bought for the “right price.” Successful property locators know how to arrive at the right price for a property by determining its

After Repair Value, estimating the Cost of Repairs, and using these two figures in a simple formula to derive the Wholesale Property Price.

Determining After Repair Value (ARV)

The method commonly used by real estate agents and appraisers to determine the market value of a property is called Comparable Market Analysis, or CMA, the appraisal being more complicated and detailed. We use here the simpler method preferred by agents. Comparable Market Analysis is based on the assumption that houses in the same area of similar size, number of rooms and other features will have similar market values.

When the comparable properties are all the same size, finding the ARV is easy. The more alike the comparable properties are the better. When the “comps” are not identical to those of the subject property, there is a method for determining the approximate After Repair Value based upon the average price per square foot of the comparables.

To calculate the average price per square foot of your comparables, divide the selling price of each comparable property by its square footage to derive the price per square foot. Add the prices per square foot of all your comparables together and divide by six (the number of comparables) to get the average square footage of your comparables Although the average price per square foot method of estimating the ARV is not as accurate as a good appraisal, it is reliable enough for our purposes.

Note: The approximate square footage can be calculated by measuring the length of the outside of the house by its width. Tax records can also be checked to find out the square footage, although they must be verified to be correct, since tax records do not always reflect remodeling and additions that have take place over the years. Do not count unheated spaces such as attics and porches.

Best regards,

Peter Vekselman

P.S.

To get started as a Property Locator with The Real Estate Arena, follow the link below: