Published by Steve 1 year, 11 months ago
in Real Estate and Business.
How often have we heard the importance of developing a good business plan? It doesn’t matter whether we’re in real estate or some other business or profession, if we clearly, in writing, haven’t set our sights on where we want to be and how we want to get there, chances are we will never have the success we could have had.
In this concise article, Beth Bresnahan lays out the what we should do to create an effective plan and encourages us to do so by asking if we are prepared for predicted cuts of 8% in 2006. She indicates a “great way to initiate action plans is with a SWOT analysis” (Strengths, Weaknesses, Opportunities and Threats). Such analysis would help anyone reveal areas where they need to focus. Are you up to the task of taking such a hard look at how you provide for your family and your future?
Strategic Business Planning: A Wild Ride
Published by Steve 1 year, 11 months ago
in Real Estate and Investments.
I attended a workshop a few weeks ago presented by a company that is a “tenant-in-common” (TIC) ownership sponsor. It quickly became clear that investors seeking to eliminate the day-to-day hassle of active property management should at least be introduced this form of investing. By replacing existing, high-maintenance properties with TIC investment, triple-net-lease properties, investors obtain a vehicle to provide appreciation potential as well as a secure monthly income without the responsibilities of being a landlord.
The TIC market has grown immensely since 2002 when the IRS approved the use of TICs as Section 1031 replacement properties for real estate. Billions of dollars have poured into TICs in the last 4 years. Check out this article to learn how you can take advantage of this growing market. Read: Buying a Small Part of Something Big.
Published by Steve 1 year, 11 months ago
in Uncategorized.
Many states have been looking hard at title insurers for violating state laws governing spending and what can and cannot be done as incentive to encourage referrals. For example, in the greater Seattle area, the state insurance commissioner found that all the major title players were “routinely breaking state laws that limit and restrict the use of incentives and giveaways to steer business”, according to a New York Times article.
While the problem apparently is not an issue in every state, title insurers in 30 states have paid more than $35 million to settle regulatory complaints. If you are a Realtor®, you may want to know what you can and cannot receive from a title company, and what the title companies in your state can and cannot give.
Read More: New York Times
Published by Steve 1 year, 11 months ago
in Housing, Real Estate and Construction.
Besides the traditional second home ownership, a client may want to consider other choices that may setter suit their lifestyle needs and/or vacation dreams. With second home sales representing up to 40 percent of the home sales market, savvy agents need to become aware of the diverse market and ownership options that exist, including timeshares, fractional ownership, residence clubs, condo-hotels and destination clubs. Consider these important questions provided by ARDA (a professional association devoted to the vacation market) as you help your clients with their decision:
- How much time will you be using the vacation home?
- Is the destination choice difficult to purchase in or seem over-valued due to location popularity?
- Are you looking at a second home as an investment and/or family legacy, or primarily as an annual ‘go to’ vacation spot?
- How much time and money are you willing to invest in home maintenance or decor?
- Is it important to be in the same vacation home every time you visit the area, or do you prefer variety?
- What level of luxury are you seeking, and are you realistically able to achieve it in a second home?
- Is it important for the vacation home to be deeded?
- What is your annual vacation budget?
Although the above questions may be more directed to “vacation properties” than traditional second homes, the value of a second home as part of a retirement portfolio ought to be seriously considered by most people. Not only can a second home provide greater net worth, it also can produce a steady stream of income in retirement years.
Published by Steve 2 years ago
in Real Estate.
Web-based brokers like ZipRealty and Redfin say they’ll not only survive the upcoming U.S. real estate downturn, but actually profit from it, says this article in Red Herring. Even though the “Internet does have the potential to disrupt the way homes are bought and sold, taking a bite out of the $2-trillion U.S. housing market”, does that mean traditional real estate brokers will lose out to their new competitive rivals?
According to Greg Sterling, founder of Sterling Market Intelligence, “the softness in the housing market is going to challenge online sites because they are relying on customer demand to drive advertising revenue.” Even with the emergence of large, well-funded web-based brokers, the market will still need the individual real estate agent to add the personal touch that real estate has always demanded. Where do you stand on the need for having a strong presence on the Internet?
Read More: RedHerring.Com
