Discovery in Economic Challenging Times

Originally posted 2008-11-29 22:13:42. Republished by Blog Post Promoter

It is interesting when you discover that even in challenging economic times that there are people who can and will find a way to overcome challenges.   I discovered that when you combine like minded people and your own self drive that may things thought impossible becomes possible.  On last night, I attended a Mastermind Meeting.  What is a Mastermind Meeting, you ask?  A mastermind is an alliance that is build from two or more minds the work together for a common goal.  The goal of our goal is to help and encourage each other in growing our business despite the economic downturn.

At the meeting, I learn several things to help do that.  One was developing a vision or mission for your chosen business.

Another was writing your goals down.

However, the most important thing that I learned was something that was restated more than once.  It was believe in yourself.  Believing in yourself is one of the most important ingredients in the formula of success according to the host.

Another key to success is speaking success not negativity into your life.  You’ll heard of the old adage “you are what you eat”, well guess what it is the same for we speak, “we are what we speak.”  So, speak, “Goodness and Goodness will come.”

Real Estate Investor Stimulus Package

Originally posted 2009-04-03 06:13:44. Republished by Blog Post Promoter

Recently, I found a podcast that gives eight steps to help real estate investors reduce expenses.

Norm Berlin and Dusty Elias Kirk give great action plans/steps to reduce expenses.  Visit http://www.pepperpodcasts.com/pepper_podcasts/2009/03/eight-steps-to-finding-real-estate-savings-in-a-tougheconomy.html to find out how you can reduce your expense by utilizing property tax appeals, lease back of unused space, life time exchanges, government incentive package, etc. 

Consult an attorney or accountant in these economic downturn times to find ways to save money and reduce expense.

Real Estate Investor Related Articles

Protecting Your Investments - This article discusses the business entities that are available that are available for investors to protect their personal assets when buying and holding properties.

 

 

Property Tax Related Articles

Indiana Property Tax Appeal (Part 2) -Filing a property tax appeal can be difficult.  This article gives links to the forms needed to file the appeal and a video tutorial on filling the forms out.

Honesty Will Help Sell Your Home

Originally posted 2010-01-08 05:00:38. Republished by Blog Post Promoter

One quality that you should be looking for in your listing broker is honesty, so if a broker does not give you a realistic view of the value of your home do not hire them.  The broker should provide a detail comparative market analysis.  The analysis should be of the last 30 days of homes with similar features.  Here is why.

Today’s market is very volatile, so if you do not need to sell don’t.  You may find that surprising statement coming from a real estate broker, but there are several factors that makes this statement the best advice for any seller.

In previous years, a seller could list his or her home for as much as the seller wanted as long as the buyer was willing to pay the price, it sold.  The seller also could list the home at a number higher than the Realtor recommended that the seller list the home at, and it would sell.   The seller would term this pricing strategy as “wiggle” room. The reason this stragedy was successful was because it was a seller’s market back in 2003 to 2005.

Those tactics started showing the first signs of soften in 2006 when homes that were listed started remaining on the market for 3 to 6 months before selling.  Prior to 2006, it was not uncommon to have a bidding war on homes.  Several changes in the market happened in 2006 that influenced the market today and turn the market from a seller’s market in 2006 to a buyer’s market in 2009:

• increased in foreclosed homes
• changes in appraisal methods
• increase in minimum credit score to purchase a home

At the end of 2008, there were an upheaval of foreclosures and sharp economic downturn; thereby, prompt mortgage companies to tighten their belt and not allow financing.  Those changes affect buyers being able to qualify for a loan due to the credit score requirement to increase to 620.

The belts were so tight that the government had to step in.  I would like to find out if you think the changes to the mortgage industry that the government mandated helped or hurt buyer? seller?