If you think the common man is the only one selling out of their homes, rest assured, the celebrity is also selling. Most of the time celebrity real estate will have some sales and some purchases, but not this time around. Shaquille, Barry and Britney are all selling.
Shaquille O’Neal was just signed to a contract with the Cleveland Cavaliers. This means no more Miami Heat and no more mansion (sorry MTV Cribs). What it also means is that the mansion needed to be sold and fast in order for the basketball star to buy a new home. For those who worry about reducing the price of their homes a few thousand, listen to this one. The original listing price for the Shaquille O’Neal mansion was $32 million in 2005. The home was finally sold for a mere $15 million. That is a price reduction of more than 50%.
Barry Manilow is also on the selling block. This world renowned singer has reduced the price of his beach front home from $12 1/2 million to nearly $11 million. Manilow is not as brave as Shaquille O’Neal, however. Barry Manilow purchased the beach house for about $4 million in 2002, so no one is going to buy this home until the price reaches near that again. Count on it!
Britney Spears has managed to keep her name out of the main stream news for a few weeks now, but her real estate dabbles are still front page news. She owns a home Hollywood Hills and has reduced the price of the home in the past. Again Britney took a trip to the real estate agent and told them to, “Cut That Price!” Her home is now listed for $6.5 million (originally listed for $7.9 million).
BONUS NEWS: For those keeping up with the most popular celebrity news, there may be a new home purchase to report in the near future after all. Kevin Jonas, oldest brother of the popular teen group The Jonas Brothers, has recently been engaged. This means there will be a need for additional square footage and larger closet space. Watch out cribs, this could be the next big story in flaunting real estate.
It goes to show you that if you market it properly, it will sell. Even as the prices are still falling, the ability of people to get financing is a sure sign that something good is happening. Whether it be conventional or owner financing, it is happening.
A lot of short sales and foreclosure sales make up some of the numbers, but these same houses are being brokered to someone, who then has to sell them to someone else. And they need a real estate professional to list it for them. Being resilient and creative right now will pay dividends.
If you can hook up with a trusted wholesaler of houses, you can still make a decent living and feel good about it. There are a lot of people that really need a break right now. Having the ability to help someone by selling them a smaller, more affordable home will give you the ability to sell homes and make someone’s dream come true.
Hard times have fallen on hundreds of thousands of people in this market. Many have been forced from their homes and are living on the street or in shelters. There are good, honest and hardworking people that need a home to live in. Finding them a home is a prospect that should be welcomed by any real estate professional, especially right now.
While statistics show that many of the home sales are from short sales and foreclosures, there are more and more conventional sales happening every day as well. Being a successful real estate professional right now means to be flexible and able to be diverse in what you will sell. Now more so than ever if you want to survive in this market.
Finding that niche that appeals to everyone is tough. You can’t please everyone all at the same time, but you can make an effort to please most of them most of the time. Listing properties that others won’t even consider can keep you very busy, and amongst the sellers. A dollar is still a dollar.
I am not saying become a slum lord or the like just to make a dollar. I am not saying to lower your standards in any way, or sacrifice your ethics and morals either. This entire article suggests is to maybe be a little more creative when thinking about how to be more successful. Creativity is very vital right now. Every real estate professional can list a property, but can they sell it?
To be in the numbers that comprise the ‘SOLD’ list requires deeper thinking now more than ever. This doesn’t mean that the house has to given away either. Whatever the market will bear, you can get. If the house is worth it and if the seller can hold out a little longer, then be firm on the price. Maybe even get the seller to be creative with some partial financing. It just may get it ‘SOLD’.
The market has been allowing the prices to drop long enough. We all understand that in 2005 these prices were way over inflated. Now we are in the real world. Prices have fallen to historic lows after rising to unprecedented highs. But the time is now to stop the bleeding. Let’s get the prices to level off and begin to rise. Just as the sales numbers are rising, so to should be the prices. Not to levels seen in the last decade, but reasonable and affordable levels.
The bottom line is this. As more and more houses are sold, and more and more people are getting financing, the market is gaining strength. It isn’t going to happen overnight. But it will happen sooner than later if the price of each home sold from this day forward goes up instead of down. People are strapped right now, and need a hand. But what they don’t need is a handout.
South Tampa offers a unique blend of Southern hospitality, urban sophistication, and a wealth of cultural attractions. The neighborhoods have that certain something that makes homes more homey, neighbors more neighborly, and a simple Saturday at the local park or cafe can be a cause to celebrate.
The foreclosure crisis is at an all-time high. With the era of easy mortgage loans, 100% financing, and sub-prime lenders coming to an end, many people are finding themselves with house payments that they can no longer afford. This can be due either to an adjustable rate mortgage that suddenly went way up, or from the loss of a job in a rough economy. Either way, if you’re facing a mortgage payment that’s becoming beyond what your budget can handle, there are ways to overcome it and possibly save your house.
First, don’t ignore the problem and hope it will go away. It won’t. The farther you become behind in your mortgage payments, the harder it will be to catch up. If you become so far behind that your mortgage company won’t even work out a payment arrangement with you, then you’ve got real problems. So, take charge and make some calls as soon as you see a problem beginning to develop.
Next, try to work something out with your lender. You don’t have to wait until a foreclosure notice is filed against you to try to work it out with your mortgage company. Lenders don’t want to foreclose, as this is a big hassle for them. They would prefer you pay your mortgage so they can recoup their investment. If you contact your lender as soon as you know there is a problem, then they’ll be much more willing to offer you options to help you get back on track.
Finally, keep in close contact with your lender regarding your financial situation. Read and respond to any correspondence they send you, especially the first few letters, because these will give you lots of good information on ways you can avoid foreclosure with tem. If you don’t keep in contact with your lender, the lender will assume you’re not even going to try to pay the loan back, and you’ll end up in foreclosure court a lot sooner than if you’d tried to work something out. Most lenders are reasonable, especially these days, so your chances of working out a way to stay in your home through special payment arrangements are much higher now than in years past. Talk to your lender, keep in touch, and follow all of the options available to you, and you just might be able to keep your home.
The time of year is here when natural disasters frequent the parts of the United States lying on the border of the ocean. While the sunny days and white sandy beaches are a beautiful thing to wake up to every morning, there is a small price to pay during the Hurricane season each year. The disaster kit is essential for anyone living in Hurricane territory, but preparedness has never been easier.
Making the Emergency Kit
Any home owner can search online for a full list of “essentials” for the emergency kit. Often these lists will be repetition of the same items like water and prescription medications. While these items are important, there is a huge gap between daily necessities and making it out of harm’s way.
What Do I Really Need in My Emergency Preparedness Kit?
1) An Action Plan - If there is no action plan in place for escaping a hurricane, things can go from nervous to frantic in minutes. The action plan should include important phone numbers and the precise things to take on the way out the door.
2) 10 Gallons of Gas - Deciding to flea a storm could be a last minute decision. No one wants to be stuck in the path of a hurricane just because their car is low on gas and the lines at the gas station are a mile long. Keeping 10 gallons of gas on hand will offer just enough driving time to locate a station that is open and not flooded with people.
3) GPS System - Many people try to escape a storm by heading in the opposite direction of the hurricane. This is a great idea, but getting lost could cause you to head in the wrong direction and right back into the heart of the storm. The best bet is to watch the course of the storm and plan a route to any major city in the opposite direction. Major cities have better cell phone reception in the case something happens.
4) Solar Charging Mat. You read that right. There are solar charging mats that can charge a GPS system, cell phone and even a laptop.
Preparing for a hurricane should not be all about food and water. While these things are essential for life, staying in the path of the storm is often not an option. Unlike the tornado, there is sufficient warning during hurricane season to pack up, head out and survive the storm surge.
Optional clothing resorts are hitting it big in both coasts of the United States. They are now abundant in Palm Springs, CA and Florida, both of which have sunny clement weather and lovely beaches. These resorts not only offer rental rooms but also sell real estate within the resort area. Optional clothing real estate is a great buy due to a number of benefits.
Great Place to Spend the Summer Vacations
Optional clothing resorts are a great place to beat the summer basking under the sun in your skin, snorkeling and learning to dive. Since most of them are located near nudist beaches they are an excellent venue to enjoy an exquisite tropical getaway.
There are mild optional clothing resorts which offer a relaxing environment with refreshments within your reach. At the same time there are also wilder nudist resorts that arrange dances and parties for the more adventurous nudist supporters.
No Trouble with Clothes
At an optional clothing resort you don’t have to worry about how you look in a swimsuit. You don’t have to fret about the waves carrying away your swim gear top. You will get a more uniform tan on your body and can do away with Vitamin D supplements and huge luggage.
These resorts do not compel nudity. You can carry on at these places wearing clothes too. So if you are not in the mood of becoming an avid naturist or a daring person, you can always carry out your activities with costumes.
Assured Safety and Security
These optional clothing resorts are safe and protected by security staff that work 24X7. They have strict rules to ensure proper behavior by the guests so that you are not troubled in anyway. The staff and guests are warm and affable so that you can enjoy your nude vacation carefree without feeling watched.
Good Investment
Clothing optional real estate investments are very lucrative. The value of such property is expected to double in the coming years due to rising demand. International clientele swarm to these resorts and condos for peace and enjoyment at the spas, bars, dance clubs and bistros there.
People who like to be innovative at their weddings also organize their marriage ceremonies in these resorts. So this implies that you can make quite a lot of bucks by reselling your real estate at a nudist resort or you can earn a steady income by renting it out.
So, invest in a clothing optional real estate and enjoy the blazing hot summer there.
Is there a disparity between the “Under value” vs “Undervalued” real estate terms? When buying a piece of property, some people talk of buying the property undervalued like it is a new thing. One can buy real estate, land and stocks undervalued but it is not the same as buying a piece of properties UNDER value.
The Difference
For instance, a company is geared up for expansion in a few years to come. According to your speculations, the company’s stock value will increase and this makes you buy the stock at the price being offered on the market and hope your speculations are right. Alternatively, you could buy at the current price on the market and hope for demand increase, which will have the value rise up. An investor can purchase gold using the current value and hope its price will increase. Conversely, in all instances, your speculations are based on the value increase of the asset and that has been presently used to undervalue it.
Contrast this train of thought to purchasing an asset UNDER VALUE that is below what the market is offering at the moment. For example if the value of a home is $200,000 basing on similar houses that were sold in the recent past, the value in the market is $200,000. It could be a growing neighborhood that boasts of a great school district, unknown to most people. This may be available 200,000 dollars because the value will increase in the future. This means that it is presently “undervalued”
Otherwise, you could purchase property using the present value in the market such as $200,000 and end up paying 150,000 dollars in which you will have bought the property under value or the value that is in-built. Why is in-built value provided? You can be able to sell it the next day for as much as 200,000 dollars. If an investor purchase real estate that is undervalued, you will have to be patient until every other person recognizes what you think about the value of property being more is true.
Certainly, if you buy property that has been undervalued, you will make more money because you are hypothesizing that demand in the future will increase and the asset’s price will go up. However, a smarter and safer approach is to purchase under value, as a specific seller is motivated like estate or foreclosure. Instead of seeking “value plays,” you should look for in-built value, which is always available when a specific seller has great inspiration and needs to make a quick sell.
As prices in many markets continue rising and going flat nationwide, so will foreclosures. The problem is painful for some who are affected such as new century financial corporation or people whose reside in foreclosed homes. Some critics think the economy will end up being bankrupt because of so many foreclosures. Others believe it is a way to end the booming real estate business to take care of the economic cycle of a free-market. Whoever is right, only time will tell, however, seeing politicians trying to fix this issue is very shocking. They have come up with a number of solutions explained below. Allocation of Funds
Tax the wealthy, provide to those deprived. To help save peoples houses, the national government wants to sponsor programs. The senate’s new bill proposes funding people not able to pay loans. This confuses taxpayers, as they do not understand why the taxpayer’s money should be given to people who in the first place took loans they could not afford. Regulate Investor’s Foreclosure
New legislation limiting options for foreclosure sellers is not the only answer when protecting property holders from unethical investors. A better option is to enforce the existing laws on consumer protection under current criminal laws. However, allowing investors to use up inventory in a free market is the best answer. This will tie up investors full of complicated regulations thus discouraging transactions and result to more property in lender accounts. These leads to lowers prices which will affect the sell of property market.
Prevent the Foreclosure Procedure
Homeowners in Massachusetts can file their grievances to the office as it passed an authority over any lender foreclosure to delay for two months. If this deed is based on complaint from consumers, then does this complaint deserve government involvement in stopping lenders from collecting the debt? Any property owner can delay or stop foreclosure using courts order if they claim violation of rights.
Stop Lending Money
Many people fell into the loan trap, when the lenders decided to become sloppy in issuing mortgage and as a result, many homeowners lost their properties and had difficulties in paying back the loan. This is because at that time they did not understand the risks in taking loans they were not able to pay. In other words, they were taking a gamble. Should lenders offering risky loans be stopped by the government? The answer is “NO”, this is because they will suffer financially as the market takes care of itself.
Enforce Existing Laws
The government should fund the enforcement instead of eliminating the business. Adequate laws exist that that offer the federal and state prosecutors enough room to prosecute unlawful operators. The government can control and make laws about it but only free market can work out the foreclosure issue. When demand is higher than supply, prices in the market will rise and people will be able to sell their home, as equity will be enough. All people should be responsible when dealing with their finances. Negligence and naiveness may lead to lose of properties.
The concept of pricing ahead of the market relies on the notion that the market moves in a direction, up or down.
Here, sellers need to price their homes for less than – as best it can be determined at a given moment – what their property is worth. They need to be ahead of the market. Why? Because in this situation, buyers are worried about paying too much. If the market is declining, they don’t want to pay what a property is “worth” today, because they expect it will be worth less tomorrow.
Suppose you want to sell your stock in the ABC Corporation, which closed at $100 today, and the market is dropping. If you put in a sell order at $100 (what it is worth right now) and not a penny less, your stock won’t be purchased if it keeps dropping to, say, $95. But if it closes at $95, and you put in a “sell” at $95, you may go unsold the next day as it continues to drop. You may “chase” the market, but if it is truly in decline, you won’t get a sale until you offer to sell it “ahead” of the market (which could simply be an order to sell at market price).
There are importantly different consequences to failing to get ahead of the market depending on whether the market is going up or down. In an up market, if you don’t price ahead of the market, then you might not get as much as you could have. This may cause a bit of wailing and gnashing of teeth, but it hardly calls for sympathy. (Never regret making a profit.)
On the other hand, if you fail to get ahead of the market when the market is in decline, the consequence is not that you simply receive a lower price; the consequence is that you don’t get a sale at all.
Sellers are understandably fearful in a declining market that, if they did get ahead of the market (i.e. downward) they would then just receive offers even lower than their asking price. But this is where negotiations come in. The first order of business is always to have someone to negotiate with.
As we approach the spring season of 2009, sellers and in many parts of the country sellers need to take a hard look at the realities of the market place and the trends of the general economy. If they perceive the market to be heading downward, they had better get out ahead of it.
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When selling real estate property, everything needs to be included in adverts. Not only your motivation, but how low the price can be and how you can go about anything else likely to harm the negotiating position. In case you came across a vacation packages list and quite a number of the listing neglect indicating the destination name, you are likely to pass over the unnamed ones. The same applies to real estate.
Some real estate agents sometimes advertise homes without prices and the location tricking potential buyers into concluding that a piece of property is located in town. It is not a perfect technique for the sale of real estate, maybe for the agents but of course not for property owners. At the back of the agent’s mind, he or she is hoping that curious customers will call. Immediately the agent has a potential client on phone, he hopes of selling whichever property he can. In case a buyer calls inquiring about a house not in town, the customer can be lured to the one in town. Most people will probably waste no time on misleading ads without price listings.
To successfully sell real estate, extra information is an added advantage. Potential buyers will be able to prequalify themselves therefore give them adequate and necessary information.
Information to Provide When Putting Real Estate Up For Sale
Always state the terms and price inside written information. Additionally, include the style, location, bathroom and bedroom numbers, and square footage of the building among other things. Have a look at what competitors are advertising then opt for detailed information in a listing or advertisement.
For the interested buyers, give them additional information to remove any uncertainty. For instance, if a house has a bad roof, inform them so that they make an informed decision.
If selling real estate with problems, hiding the problems can be unethical and illegal. A perfect idea is resolving the problem or obtaining quotes on its total cost so as to get a resolution. Generally, buyers are less panicky by the view of paying a given amount for a new home than by the view of paying an unidentified amount for the home.
Probably, this fits into your personal experience. When buying anything, you always want more information. With less uncertainty, people are likely to pay more for something. Therefore, equip yourself with adequate information when selling a real estate property.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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