build your wealth: When buying a home, consider the resale value. - 01/19/08 08:51 PM
Sure, I might be jumping the gun a little. I know you haven't even purchased the home yet or moved in for that matter, but consider what happens if you want to sell it later. How do you choose a home that has a good resale value?
We all want homes that … (0 comments)
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build your wealth: You've Decided to Build, but Where? Tips on Buying Land. - 01/19/08 07:54 PM
Congratulations! You've decided to build your own home. But where do you start?
Now that you've drawn up the plans or maybe even picked out your perfect manufactured or modular home, you'll need to find the land to put it on. It may sound like a simple process. Pick the home, buy … (0 comments)
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build your wealth: Purchasing a Home? Make your Offer Count. - 01/19/08 12:08 AM
How you write an offer on the property you chose ultimately determines whether you win or lose. Negotiations are about more than just the price. Here are just a few of my keys to success.
Try to Minimize Contingencies. Fewer contingencies mean a stronger offer. With that in mind, you should insist … (4 comments)
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build your wealth: FHA & the Real Estate Circle of Life. - 01/06/08 01:05 PM
There is some great news for home buyers (and sellers!) on it's way in. On December 14, 2007 the Senate passed a new law - the FHA Modernization Act of 2007.
What is this?
Essentially, this will help buyers by offering alternative ways of borrowing money that are much less risky than … (9 comments)
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build your wealth: Investors. Don’t Get Stuck in the Dark. (Part 5 - final) - 01/03/08 09:34 AM
To wrap up this series on investment properties, let's take a look at some final pieces to keep your investment an investment. If you haven't read previous articles, start here for some worth while information on how to look at investing.
Investment-Income Producing Properties are a wonderful thing to have. While everyone … (4 comments)
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build your wealth: Investors. What's a Good Value? (Part 4) - 01/01/08 10:56 AM
If you are just tuning in and are interested in investment properties, take a minute to browse through my previous articles before you get started. Part 1 - Tips for First Time Investors. Part 2 - Is it a Good Rental? Part 3 - How Long is Your Horizon?
So, you've found … (7 comments)
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build your wealth: Investors. How long is your horizon? (Part 3) - 01/01/08 10:39 AM
As with any investment, part of planning is knowing how long you are going to keep it. If you plan on keeping a property for 20 years, chances are you're going to have to replace the roof, water heater and other items with a limited lifespan. If you plan on keeping … (2 comments)
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build your wealth: Investors. Is it a Good Rental? (Part 2) - 12/30/07 08:13 PM
So, you've decided it's time to purchase an investment property. How do you know if it's a good rental?
There are a couple basic items to consider when looking at an investment property. Just like in real estate, rentals are about location, location, location!
If you are considering a full-time rental property, … (2 comments)
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build your wealth: First Time Investor? Some things to consider. (Part 1) - 12/30/07 04:18 PM
Now is the perfect time to begin investing in real estate. Many buyers are sitting on the fence waiting for things to change and talk about how our market is "down." In reality, you now have more negotiating power than ever.If you are a new investor starting out, I recommend starting … (6 comments)
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build your wealth: Investors or Anyone. Don't put all your Eggs in One Basket. - 12/30/07 02:41 PM
Now is the perfect time to consider investing in the real estate market. But, you should NOT just run out and buy the first property that comes along. There is some planning that you should do first.
With that said, don't put all your money into one basket. In order to invest … (0 comments)
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build your wealth: Why Real Estate is Better than Stocks. - 12/29/07 06:00 PM
The thing I love about real estate is that it allows you to leverage your money. Here's what I mean.
Let's say that you have $40,000 to invest.
Option 1. You find an income producing property, maybe a little run down that is only $200,000. You put 15% down, or $30,000 and … (50 comments)
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build your wealth: Foreclosures. Do Your Research! (Part 4) - 12/27/07 05:40 PM
Thorough research should be REQUIRED if you are interested in purchasing a foreclosure. This is research that you need to have completed before the morning of the auction. Purchasing a property without doing your research can result in very unwanted and costly surprises. Keep in mind that even the most diligent … (6 comments)
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build your wealth: Foreclosures. How long before it’s mine? (Part 3) - 12/27/07 05:37 PM
If you are considering buying a property at a tax foreclosure auction, there are many RISKS you should be aware of. Remember, auctions are BUYER BEWARE sales. I can't stress that enough. The County will make no representation about anything regarding that property, so it's up to you to deal with … (0 comments)
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build your wealth: Buying a Foreclosure? Think First. (Part 2) - 12/27/07 05:33 PM
There is a misconception out there. Many beginning investors and homebuyers automatically think foreclosures are a good deal. Unfortunately, I'm here to tell you they rarely live up to the "hype" and they are certainly not easy. Sellers who go into foreclosure will stop making payments for a variety of reasons. … (3 comments)
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build your wealth: Foreclosures. It goes back to supply & demand (Part 1) - 12/27/07 05:29 PM
Think about it this way. Real Estate is all about supply and demand. In my area, almost all short sales and foreclosures are listed through our multiple listing service. These homes are available on the market, just like all the other homes in the area. Good investors do not like to … (2 comments)
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build your wealth: Sellers, how do you compete against DESPERATE sellers? - 12/20/07 06:33 PM
I recently had the situation arise where a buyer I was working with was drawn away from a beautiful home, for the chance to buy a short sale. Unfortunately, this is not the first time I have seen this and it got me to thinking. How are my sellers supposed to … (16 comments)
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build your wealth: Giving is a selfish act. Yes, selfish. - 12/20/07 02:22 PM
Giving is one of the most selfish acts around. Yes, selfish. Here's what I mean.
Recently, I have committed a lot of my time to improving my community. Not because I hope it will improve my business, but because I feel good about myself when I can help others. So, is giving … (4 comments)
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build your wealth: We live in a litigious society. Be cautious. - 12/19/07 02:20 PM
I love selling real estate. Each day, I wake up and I'm excited! I get to sell real estate!
Unfortunately, our society is a very litigious one and we need to take precautions to avoid misunderstandings down the road between all parties involved.
Here are some points I always consider to help … (12 comments)
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build your wealth: There is no secret plan. - 12/17/07 04:52 PM
There are more and more companies than ever before that will show you the "secret to success in real estate." Add to that the issue that so much information is available online, everyone has become an "expert" in real estate and you have quite a mess on your hands. Today, not … (13 comments)
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build your wealth: Education = Success - 12/15/07 09:46 PM
I see it time and time again. "Experienced" agents are so busy in their disorganized business that they neglect their education. To me, education is key. It's the closest thing to a "shortcut" that you'll ever find when climbing the latter to success.
Look around. A large percentage of the real … (9 comments)
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build your wealth: Agents should know technology. But, what about clients? - 12/15/07 09:32 PM
I hear a lot of agents talking about how they need to get in tune with the younger generation. It is almost a requirement that you use email or know how to text someone.
But, no one ever mentions that their clients need these skills too. For my business, my clients … (9 comments)
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build your wealth: Overnight Successes never are. You just didn't notice the work. - 12/14/07 09:39 PM
I heard a statement the other day that caught my attention...
Overnight successes never are. You just didn't notice the work they were doing to build it.
That statement couldn't be any more true. How committed are you to being successful in real estate or in any business, for that matter? … (12 comments)
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build your wealth: Real Estate 101 - 12/11/07 03:13 PM
I was recently reading an article by Denise Lones, MIRM, CSP with The Lones Group in Bellingham, WA and boy did she hit the nail on the head!
Real Estate follows the rules of basic economics - supply and demand. The supply and demand in real estate is the same as the … (11 comments)
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build your wealth: Why People Buy - 11/16/07 09:43 PM
There are three main reasons why people buy homes. The first is the economy and ours is great! We have three major hubs - technology, aerospace, and medical research. Boeing has orders for the next 22 years, is currently hiring like crazy and their employees are on mandatory overtime. Costco is … (3 comments)
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build your wealth: Our market is HOT in Snohomish County! - 11/11/07 01:58 PM
Let's talk about what is really going on with real estate in my local area - Stanwood, Arlington, Camano Island and most of Snohomish County in WA.The most important thing to remember is that Real Estate is LOCAL! The strength of our economy is one reason why housing in our area has … (4 comments)
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