Month: November 2021

Commercial Leases

When signing a lease for industrial property, business owners need to be aware of exactly what they are agreeing to do. There are many different costs associated with operating a commercial property. Examples of typical operating costs are real estate taxes, property insurance, landscaping, snow removal, exterior lighting, and parking lot maintenance. As a potential tenant looking for space to rent, it is important to understand which party will be responsible for performing the necessary work, as well as how the costs will be handled.

Commercial industrial real estate is largely driven by local market forces, and things that are customary in one region of the country may not be in another. For example, rent is quoted by landlords in a number of different ways. The dollar figure usually represents the price per square foot per year, followed by ‘gross’, ‘net’, ‘triple net’, ‘NNN’, etc. The definitions are important, and can vary depending on the context. Most important for a business owner is to understand what the total monthly and annual cost outlays will be to occupy a property.

The agreement between the parties is formalized by a lease which is usually provided by the landlord. An experienced, professional landlord will be able to anticipate most of the potential expenses and likely problem areas and will include and address them in the lease document. A lease that is overly simple may be silent to many potential problems that could arise in the future. In most cases, it is suggested that a potential tenant hire an attorney that is familiar with commercial real estate lease agreements.

To summarize, when entering into an agreement to lease industrial real estate, it is important to understand the elements of the agreement and for all parties to be aware of their obligations, financial and otherwise. Hopefully, this will create a mutually beneficial relationship between landlord and tenant throughout the lease term.

Written by: Tim Breckner, Business Development Officer, Weston Inc.…

Thinking of Investing Into Time Share? Do Not Even Think About It

When you are trying to go into real estate investments, you have to be extra careful. This is because real estate is unlike any other investments. The stakes are higher than other common investment models like funds, stocks and so on. But if done (with research and opportunity at the right time) properly, real estate investment could very well be your most profitable investment. However, there are two types of real estate investments that you should stay away from. The mentioned real estate is time share.

What is time share?

Time share is a type of right or ownership you can have over a property. Usually, the said property is a resort condominium unit. But at the same time, there are other parties who have their rights to the property. The result is there is only a specific time in which an owner can use the property. People often utilize a resort condominium for vacation purposes.

Disadvantages of time share

You should avoid this because of the obvious reason; unreliable investment. It will cause you to lose money. That is for sure. The way it works is like this. With a time share, you will be purchasing an ownership (a period of one or two weeks) or a usage of a particular house or condominium per year.

For example, if you are paying $10,000 a week with the miscellaneous fees included, you are actually paying for more. If compared another house or condominium unit nearby, you could often find them to be lower priced. What have you paid for? You have just paid for various commissions that belong to salespersons, administrative department and the developer.

So why is it that people keep buying time shares? This is because they are lured into the idea of buying one. This often occurs when a person is on a leisure trip or in a stress-free environment. Therefore, during vacations, salespeople are more likely to score a victory in their sales pitches. People on vacations are more likely to spend and this is true. In fact, most salespeople would even lure the potential “relaxed” clients by offering them a free stay at the particular unit they are offering to sell. They often do this in their presentation. Therefore, this might raise a red flag whenever a salesperson talks about free night stay or related offers.

If you still insist on time share, then you should consider buying a second-hand one. This would mean a used one. This is because you will find good deals from buyers who had already lost a good amount of money. Therefore, you can easily buy from them at bargain prices.

Time share also lets you take your vacation in other places (not your particular unit they are selling to you). But you should be warned. This is a great inconvenience. What happens is you will be charged extra fees. Your choice is usually limited when it comes to suitable schedules.…

Four Cheap Ways To Boost House Prices

There are a various things that can affect the value of your home and these factors are divided into those that you cannot control and the ones that you can. Influences that you cannot control include such things as the health of the economy, the susceptibility of your home’s location to natural disasters like earthquakes, and the kind of people living within the vicinity of your property. Other things that can affect house prices that can be easily altered include how it looks, whether the fixtures actually work, or even how it smells. You certainly won’t be able to alter the weather or the inhabitants of your community to boost your home’s value, but if you pay attention to the things that you can indeed control, you can enjoy price increases when you sell your home on the market.

One way to boost house prices without shelling out so much money is by cleaning up. A little scrubbing can definitely make a wonderful difference, but if you really want to change how your customers see you house, then it’s best to go all the way. Washing the linens, scrubbing the windows, and dusting the shelves are just a few steps you can take to make your house cleaner. You can go further by removing all clutter and getting rid of highly personal items that can compromise the look of your home.

Another cheap way to make your home more desirable to future buyers is making sure that it smells nice. To most people, this simply means a home that smells clean, but you can enhance things further by making your house smell like flowers or maybe even cookies. However, try not to go overboard and stick to light scents; any sweet scent can turn off a buyer when it borders on intoxicating.

One thing you must absolutely do if you truly want to enhance your home’s value is to fix or replace damaged items. This can be something as simple as a leaky faucet or maybe something as big as a hole in the ceiling caused by water damage. Although the latter example may be a little costly, it’s not nearly as expensive as renovation. A home with fully functional fixtures means that it’s been cared for well, a feature that is truly attractive to homebuyers.

Lastly, always remember that a drab house doesn’t look all too appealing, so if your painted walls are fading and the colours are already taking on greyish hue, then maybe it’s time to put on a fresh coat of paint. New paint can make a house seem brighter and much fresher, and properties that have a light, airy feel can always command better house prices than those that don’t.…

Should Make an Offer on Short Sales?

You have been searching for the perfect home for weeks. Picking out listing after listing online and have even viewed a few of them in person. You finally think you have found the perfect one! But it’s a short sale, take your hand off the mouse and step away from the computer. Not so fast, with some basic knowledge you can decide whether to walk away or make an offer.

Most agents will tell their buyers to stay away from short sales no matter how attractive the price or property may be and that is the general advice that is given across the board, but it is wrong. Some short sale listings are perfectly viable while there are others that are not.

Some short sales are priced ridiculously low; typically these are the ones that you should stay away from. While others are priced at a competitive price, while lower than their comparable sales, they are not absurdly low. These are the ones you stand a decent chance when making an offer. Why should you stay away? Because short sales can take anywhere from 2-4 months on average to close and the bank does not have to accept your offer especially if the property is priced at an absurdly low price. If you are not prepared to present an offer above a superficial price, then you should pass.

When dealing with a short sale, your agent is your best friend and most important asset. Your first move should be to ask your agent to find out how much is owed against the property and how many loans are recorded. Often times when obtaining a loan people receive two mortgages. The first and second mortgage company must both agree on the sales price of the home. Some lenders also have a reputation for being very difficult to work with. If your agent is an experienced short sale agent they will know who they are and advise you accordingly.

Ask if your agent has received a complete short sale package from the seller which should include the following at minimum:

*W-2’s

*Tax returns

*Payroll stubs

*Financial statements

*Bank statements

*Seller’s hardship letter

Make sure these documents are on hand, you don’t want to delay the process because the listing agent doesn’t have the required documents.

When you make an offer that is agreed upon by both you and the home owner the bank will want a copy of the offer along with a copy of the listing agreement. Be prepared for the lender to renegotiate commissions and refuse to pay for certain or all items such as home inspections or protection plans.

If everything goes as planned the lender will approve your offer on the short sale and you can begin the stages of escrow!…

Estimating a higher price in selling a property is an old trick used by real estate agents. This is done so that people who want to sell properties will be impressed by the large numbers, and then choose the agent over other competitors. However, this excessive property price will keep this property on the market for months, while the homeowner loses money.

This practice known as selling a listing is just one of many tricks real estate agents use to attract the attention of their clients. Savvy home seekers will be able to figure out how to spot this marketing trick and see which brokers actually intend to sell their property.

Property portal Lamudi released a number of tips to assist home sellers in choosing the right real estate agent to meet their needs and successfully make the property sell.

1. Prepare for Interview

Don’t treat your first meeting with a real estate agent as a casual conversation. Treat the meeting as if you were conducting a job interview, with the agent looking for the position while you make the final decision. Have specific questions that can find out about their sales experience and history, as well as how they operate. Talk to at least three people before you make a final decision.

2. Find Out Profile

Today, someone’s online profile can give you a lot of information about how that person works. From their website and social media accounts, including Facebook and Twitter, you can get an idea of ​​how they work. Do a quick search for news about them and their agency. Most importantly, see how they are marketing online and how effective they are in finding potential buyers.

3. See Reputation

When looking for a trustworthy real estate agent, the first thing to consider is their reputation, licenses and other awards that the agency’s office already has. Some well-known agency offices usually have a company website where they contain official office addresses and outstanding agents. You can use this as a reference in choosing a trusted agent.

4. Request Reference

Both buyers and sellers should seek written references to agents from previous clients, including their contacts. With it, you can contact their old clients and ask important things about the agency such as: is the agent working well? Are the marketing methods they use effective? How long has the property been on the market? And most importantly, will they use the same agent if the next opportunity arises?

5. Choose those with Expertise in the Local Market

Finding a knowledgeable agent is key as each region has its own challenges when it comes to the real estate sector. The ideal property agent should have a proven record of selling properties in the local area. They must know correctly the factors of existing facilities in the location, environmental conditions and even government policies in the area will greatly affect the sale of their property. They are able to provide knowledge of the local market better than even the residents, and because of this they always have an advantage that can help you sell your property.

6. Avoid asking about the selling price

While many people will focus on the estimated selling price, there are other factors that are more important. The agent’s ability to negotiate, is the key to getting the best possible deal, no matter the initial price. In the end you have to find an agent you can rely on and trust to think of what’s best for you in this sales process.…

Real Solutions In Real Estate: A Scottsdale Perspective

Business trends may come and go but nothing beats real value in real estate. As the economic crunch continues to challenge the world economy, one word stands out to every individual with a forward thinking perspective, Sustainability. There is some solid reasons why buying real estate properties might be the best solution for a more secure 40(1)k plan, but you don’t want just any piece of property, you need the best property available with all the advantages that an investment can afford, and that’s where buying homes for sale in areas that are less popular but are still quite progressive might just do the trick.Considering the Crown Jewel of Arizona State, looking at Scottsdale properties might not be a bad idea after all, here are a few ideas to get you started.

ECONOMY Home to a host of leisurely life style properties such as golf courses, luxurious resorts and a boom town of continuous property development, progressive growth just points toward one true direction that there’s absolutely nowhere else to go but up, A number of Fortune 500 companies find their home in Scottsdale, with its charm and vigorous tourist friendly city management, tourism has become a wonderful industry that has provided billions into the city fund, and the tourist trend shows no signs of letting up, giving Scottsdale the much needed funds to further fuel their thriving economy.

OPPORTUNITIES Think about it for a moment, having a house near places where the luxury and hospitality industry is having a windfall in the volume of business puts your property in the position to be worth top dollar in a few years time, sell it, rent it, develop it, its your choice, in fact you can shop all Scottsdale homes and see for yourself how your investment in real estate in Scottsdale might surprisingly turn out to become a leisurely and worthwhile investment.

COMMUNITY City Government has done a job well done with public transportation being so accessible through the Scottsdale Trolley, that makes for a fascinating mode of transportation for everyone. Scottsdale also developed the first robot arm garbage truck, replacing crews who dumped cans into a train of open trailers pulled by a truck, with a single operator sitting in an air conditioned cab, alongside these innovations Scottsdale properties, enjoy the privilege of being in the enclave of luxurious brands catering to the local residents and tourists, and not to mention the exciting nightlife that keeps the city’s blood pumping til the wee hours of the morning.

Owning real estate in Scottsdale Real Estate may prove to be the best investment choice you have made with all these advantages in tow, it wouldn’t be a surprise if you enjoy a fruitful return in your retirement years.…

Should We Move Up Now?

Just telling your family that you are going to move to another location is already a daunting process. If you are one of those people who are hesitant in leaving your present dwelling, keep in mind that you are not alone in harboring such sentiments. While some are keen to move up at the slightest advantage, you might not be feeling that way.

The good news is that, if ever you have decided to move up now, then this is the best time for that choice. For many, increased income is the determining factor in order to move to another location and purchase a home there. In fact, there are circumstances wherein people move up to a new place only to find out that they are indeed having a tough time adjusting to their surroundings. Add to it the anxieties straight from the lips of housing economists regarding the real estate market have stretched from bulletins, listings, and reports into homes and even the workplace.

But regardless of the credit turmoil, the teetering customer assurance and guarantee, uncertain rate moves and sense of economic dissatisfaction, going ahead with your move is not mere folly. Besides, if you are moving up now, you can search for the best deals around and get a return for your investment in the long run.

In deciding to make your move up, you need to do some assessment of your personal situation and step away from the bigger picture. Do not let such news dismay your chances of moving to another location. Have some market confidence and just go with what your instincts tell you. If you think this is the proper time to make the move up, do not be put off and dissuade your chances. Finding an ideal home in another location, whether you are deciding to go upstate preps you up to go on to bigger things such as investing in your own place.

Of course, timing is given utmost importance when it comes to moving issues. But homes are being snatched up here and there in the real estate market that it is more affordable to obtain a property at this day and age. The market has set up trends which have spurred competition among home property owners and real estate brokers. While it cannot be denied that banks are more reluctant than ever to render loans to borrowers for their home purchase, this could prompt a higher mortgage rate which makes you all the more fearful of securing a loan. Lenders usually alter their pricing deals to safeguard themselves against borrowers going on a default.

The housing market can be crazy but it is wise to look at your own personal circumstances and prioritize your needs first. If your family chooses to settle down by moving up, then go ahead, make the move. Especially if you have kids, you have to move regarding a longer term. Short-term moves offer no help and you will only get frustrated at a later date.

Surely, affordability is what counts. Doing the math prepares you to have a big savings deposit attributed to your move. Besides, there is no reason why you should hold back in moving up. If you can afford to purchase a home now, do not delay in moving.…