Real Estate

Everyone is talking about the cut in the interest rates for home loans. Will actually the cut gonna help in reviving the realty sector?Is it a good time to buy a property rite now or should wait for some more time?

Yes! it may ! It is the best buy trans-duration which may or may not remain further.Reduction in property prices and home loan rates could boost demand.A recovery in the property market in the next six months hinges on lower home loan rates to lure first-time buyers. Mortgage rates in India are at 12 percent to 13 percent, about twice what they are in China. That is unrealistic ! If rates are cut, the domestic demand itself will carry the country through this difficult period.It’s tough to say if a cut in interest rates will change the sentiment.In the current environment, people in India will be wary of buying property and stretching themselves. With rising interest costs and high property prices, buyers were pinning their hopes on loan rate cuts to buy homes in the festive season. For developers, who are staring at a demand slowdown, unchanged rates meant they could not prop up the sales in a traditionally busy season.High interest rates have already dented property demand in the past few quarters and expectations were that rates would soften after the Reserve Bank of India (RBI) announced a 100-basis point cut in the repo rate to 8 per cent and another 250 basis points cut in the Cash Reserve Ratio (CRR) to 6.50 per cent. However, the country’s largest bank, State Bank of India, on Monday said it would keep its lending rates, including home loan rates, unaltered.Even though loans will become cheaper, the bank plans to tighten the criteria for lending to individual borrowers.

I am considering becoming a Realestate agent in Australia and was wondering if you have any tips or ideas? I enjoy selling and have always liked looking at houses but Im not sure practically what its like to sell houses. Is it mainly dealing with paperwork, people skills etc?

Firstly, normally the paperwork’s not too bad – most real estate agencys have reception staff and assistant who process most of thing things like contracts etc for you. Definitely people skills and sales skills, though the latter can be learned. You need to be able to get on with people easily and quickly, this helps a lot. It also really helps to have good knowledge of the local area, but again this can be learned with a bit of time and effort.

To become a registered real estate salesperson you need to complete a course to learn about real estate and property. To find out more about this contact your local real estate institute in your state, eg; for QLD it’s REIQ (www.reiq.com.au).

Some agents however encourage new starters to real estate and will support you through the course which can be a really good way to start as you then have a job to go to upon completion – call around a few agents and see if anyone is interested in working with you.

Good luck!

I saw a free web site on tv (cnn/cnbc?) that shows realestate listings on a satellite image map (like g@@gle earth). What is the web address for the site?

www.zillow.com

Ok, so I’m interested in buying a new home, and came across a listing that showed the home to have 3.1 bathrooms. So: this is for all the realtors out there:

What are the requirements for the listing size of bathrooms? I know it has to do with what’s in the bathroom: bathtub, stand up shower, toilet, sink, etc. Maybe you could give me all the different realty bathroom size listings with each size’s requirements.

Thanks!

3.l bathrooms means the house has 3 and 1/2 bathrooms literally. It has absolutely nothing to do with the size of the baths. A half stipulates a powder room which could be very small or quite large. Same with all the baths. Their sizes are determined by the square footage of the home. Obviously 3 1/2 baths in a 4000 sq. ft. home are going to be much larger than 3 1/2 in a 1500 sq. ft. home.

I want to get into buying and selling realestate preferably fixer upers.

First, establish your team–find a good realtor and mortgage loan officer who are experienced with investment properties. If you plan to rehab then sell the properties, I would recommend 100% financing. The interest rate is higher than if you had cash for down payment, but you’ll have more cash for rehab. I wouldn’t worry about the interest rate anyway if you plan to sell within a few months. Be sure to keep all your receipts–lenders look unfavorably on houses selling for much more than purchased for a few months ago–unless you can document costs for repairs/ improvements. Call me if I can help. Rick Lanicek (800) 256-0817 Ext 202 www.primelendingonline.com

ok so i found a house in northville michigan that i am interested in and i can only find it at one website i have seen it somewhere before but i wasent too sure about it but now im really interested and cant find it i will give you the website and stuff

the house is on lilypad court.
in northville michigan

http://realestate.yahoo.com/Michigan/Northville/Homes_for_sale/67755910b3efde29fdc41912d8d4017b;_ylt=AmRfceb8dW_67wPeiuxvSDbnMrQs?typeBak=realestate&p=northville+michigan&type=classified&search=Search&priceLow=255000&priceHigh=260000&bedroomLow=&bathroomLow=

i know it has a number but im not ready to speak with someone yet. i just really want to see some pictures and read the rest of the desc. it doesent have an mls or i would be doing this myself well if anyone knows how to find it anywere else please help or give me the website.

try realtor.com

I’m thinking of buying a house in the Edmonton area, but I’ve heard that the realestate market is going down meaning that if I buy and have to move in 3-5 years that I will lose money on the house.
Does anyone have information on this or has gone through a similar experience?

edmonton has had a remarkable run up in pricing the last five years. That seems to have levelled off or even slightly dipped in the past six months but hasn’t crashed. The economy there is strong and people are still moving in so, in my opinion, if your looking at a timeline of 4-5 years your pretty safe your house will be worth more then what you paid.
http://www.ereb.com/MarketActivity/July.html

i may be moving to a smaller house (perhaps renting and there may not be room for my drum set. so where can i put my drum set and all my other music stuff (guitars and amps, etc.) and still be able to use it and perhaps hold band rehearsals at?

smaller house
well garage maybe?
if thats not possible i used to live in a place with two living rooms one was for band practice
or two bedroom on bath use one bedroom
or move somewhere where your neighbors are really cool

unpermited add on’s and coversions. i just found this out. i have about a 500 neg cash flow on it and im guessing its gonna cost big money to get the changes legal and permitted. im thinking of giving up the property to the mortgage company. what are my options?
the county is aware of it.

Is the county telling you to fix it? Before you consider giving it up, get some estimates on bringing your home up to code. It may seem like alot of changes/modifications, but an estimate will give you a clear picture of whether it’s worth keeping your home or not. Generally it’s not all that much to get an addition/modification permitted if the addition was done properly.The market won’t stay this way forever, and homes generally increase in value over time, so you may find out that your best bet would be to hang in there, get those estimates, see if the county will give you time (if they’re harassing you about it), and see if a lender or your lender might work with getting you the money you may need to make the needed corrections. Otherwise, if the county is not pushing the issue, make the corrections as you can afford to. A house up to code is worth more than a house that isn’t. If you have equity in your home and can afford to refi, then it might be a good idea to do so and keep your home. To do a deed in lieu of foreclosure is what I’m thinking you’re thinking, where you hand the keys to your lender and walk away from the home, but that is a decision the lender would make, and at this time many lenders are trying to have their clients stay in their homes rather than take them back. Lenders generally don’t want the hassle and expense of trying to resell the home. A foreclosure would mess you up big time with your credit. It would take at least 2 years before you could try again to get a home. Hope this helps, good luck

The apartment realty company I go through is THE WORST. There are thousands of horrible reviews about them (Just look up John CR Kelly Realty)

Im sick of their shit. To whom and how do I file an official complaint? I’ve gone through them and the police (when some crackhead neighbors broke into my car) and it didn’t look like the better business bureau would be the right place. Do local governments have a department for this type thing? I know I can get about 12 other tenants to vouch for the conditions.

I am not really sure what the complaint is.

they have no law enforcement power at all.

You call the police over illegal activity, the health department over conditions.