Sammarusich Blog

Nobody likes to invest in a declining market. But the situation may demand that you will have to sell your house quickly in this slow market. It will certainly be a frustrating experience to sit around with an unsold house on the market. It is true that in this time of continual recession the number of home sellers is incresing while the list of the buyers is becoming thin to thiner. There are more houses on the market than they were previously. Now it is a challenge to sell your home for an acceptable price in this declining market.

Here are some must-follow rules ,which will help you sell your house quickly in this slow market. Moreover, inspite of the slow market you will not have to lower your price ,if you can maintain the following strategies.

Be patient in a slow market

It is paradoxical,but true that you should be slow in a slow market.In a declining market the sellers are driven by the psychological fears that the more thay wait the more he/she will lose. The sellers get easily frustrated and hike the much less price lest they should suffer more. But the truth is that you should be more patient in a slow market and wait to observe the whole situation. Don’t lower your price suddenly out of frustration. You should sit and observe the market for some time in order to find the right buyer for your home.

Pricing your home too low can affect sellin adversely in several ways. There is a possibility of not getting the right price , if you drop the price too much. Moreover. Lowering the prices may have negative impression about your house and they may begin to consider your house as one those ’problem houses’.

Observe the market and set a standard price

In a slow market it is important for you to take a step back and evaluate the true value of the home and the surrounding area. You should neither drop the price rashly nor be a foolish to cling to your old price when the market is slow. If you want to sell your house quickly, you should consider pricing your home no higher than the middle range for houses comparable to yopur house. As I kmentioned earlier, the buyers are a few in a declining market. While few buyers are chasing many homes, you will have to quickly get the attention of those who are serious about buying.

You can draw the attention of the possible buyers by setting a price that is attractive and reasonable to buyers. Compare your house with the houses in your neighborhood to have a fair idea about the right price. If you hike a too high price, you may never get buyers to even consider looking at your home.

Offer consesions in different ways

You can make your house attractive not by directly lowering your prices. You can offer consesions like bearing the cost of the repairs, giving home warranties that will cover the cost of home repairs during a certain period of time after the home is bought. Such incentives will certainly allure the potential buyers.

Refurbish your house

The first look is important. You can give your house a dazzling look by refurbishing it in order to impress the possible buyers. Looking old will make the sale of your house even more slow in a slow market.

Hire the right agent

It will be Quixotic to try to sell your own house in this slow market without the help of the real estate professionals. So, look for a sales agent who has a good reputation as well as experiences in your area.

Follow these tips and have a quick sell of your house in a slow market.

Greath Owen writes about Sell House Fast or Sell and Rent Back ,Property for Cash. To know more about Sell House Fast or Sell and Rent Back ,Property for Cash, visit http://www.yourproperty4cash.co.uk

Renting your property is one of the soundest ventures you can ever embark on especially in augmenting your income and finances. Home buying has become a lesser preferred option in the current real estate market due to the continuous financial dilemma despite of the massive plunge in the property value and prices. Hence, a great number of individuals are choosing rental options than actually owning a house or property. Financial difference pertaining to these two different ventures is on top of the list when weighing their options. For instance, it is more practical and cheaper to rent a house or unit in a building than going through the hassles of purchasing a property and securing a mortgage loan among others.

For home owners who have the available resources and are entertaining the notion of becoming landlords, there are several things to consider making this venture a brilliant and profitable investment. Bear in mind that the success of your pursuit depends on the right decisions and choice you make hence choose them wisely. Before anything else, getting the right tenants to rent your property ought to be your utmost priority. There are innumerable rental units and houses out there hence what do you do in order to make your property stand out among the rest of the other competitions?

First thing is to address the quality of the house or rental unit to make it highly preferred and attractive to potential renters. Start with the curb appeal of your house by taking care and improving your exterior. This includes general cleaning and de-cluttering your surroundings. Curb appeal refers to the impression of people about your house even before they get out of their cars. Hence, make the impact of your rental unit something worth remembering and enticing for tenants to consider renting it for sure. Trim overgrown weeds and hedges to give a more professional look. Address repair and fixture issues especially regarding the sidewalks and driveways. You can also improve and beautify your outdoors by adding flowers in the patio or porches, repainting the fences and wall sidings if necessary, fix the doors and windows among others.

After making sure that everything in the exteriors are in good condition to entice and invite renters to further explore your property, it is time to take care of what’s inside the house. Start with a proper maintenance and clean-up in the most functional and often frequented areas of the house, the kitchen and the bathrooms. Remembering that just as in home selling, these two serve as the focal and selling points of the property. This is also the same in your pursuit of renting out your house. Clean walls and floors, dust your furniture, de-clutter and de-personalize the interiors to make it more welcoming to future occupants. Promptly assess and take care of systems that need fixture such as your plumbing, drainage, electrical and heating systems among others.

Renting out the house for profit is not the only objective you may have, but providing a livable environment conducive to quality living to your tenants and renters.

Bank Owned Foreclosures in Carefree AZ, Cave Creek AZ Real Estate Rentals and Tolleson AZ Real Estate Rentals can offer you a whole deal of information about the real estate market. Whether you want to sell your house, buy a property or rent one, getting all the information that you need will give you a great advantage.

The U.S. economy is continuing its freefall, and the quality of life for millions of people is being threatened by a financial climate heading toward even riskier terrain.  Cost of living is rising, retirement savings is declining, and the expected payoff for many homeowners has been dramatically reduced.  According to Barry Golson, author of Retirement Without Borders, and editor of Forbes Traveler, “Surveys have shown that as many as four out of five baby boomers have not saved enough for a comfortable U.S. retirement, and the latest figures indicate a national savings rate approaching zero. (In Japan, it is 20 percent.)”  An increasing number of people are looking past the borders of their home country for new opportunities.  Proper research and finding a network of people who are living overseas can help to make an informed decision.  It is likely that you will find people who are experiencing a retirement that is socially and intellectually fulfilling, while also maximizing their savings.  The purpose of this article is to highlight the steps that can be taken right now to find a location that will offer a more rewarding future.

Exodus

Many well-known financial experts, such as Steve Bergsman; and investors such as legend Henry Kaufman, are beginning to look overseas for opportunities that have vanished in the U.S. and most of the developed nations.  This is a good indicator for the retiree or second homebuyer; wise investors choose locations that are stable, experiencing rising tourism, and show economic strength.

The rate at which American citizens are leaving the United States has risen sharply over the past five years to reach record numbers today.  Expatriate Americans now number around 4 million, and the exodus does not seem to be slowing down—if you are considering an overseas move, you definitely will not be alone.  Certainly, the reasons for this could be political or financial, but from the many expats we know, the reasons are more likely to be rooted in a desire for new experiences, an intense thirst for knowledge, and an open mindedness about foreign lands and cultures.  It is the richness of experience, a healthier physical climate, and a lower cost of living that has forced many people to conclude that they have not sacrificed anything to live outside their country of birth; in fact, these expats overwhelmingly report that they have attained a better quality of life where a dramatically reduced pace of life has offered them the chance to enjoy every day to its fullest.  Combine day-to-day quality of life with a 50% cost-of-living reduction, and it is no wonder why more and more people are thoroughly enjoying retirement overseas.

Good Weather Ahead

There is mounting evidence to suggest that the financial climate for most of the world is entering a Japanese-style “lost decade.”  Trend forecasters have cited the massive injection of currency as leading to a long period of stagflation, at best; and runaway inflation, at worst.  These developed countries could now more properly be called “over-developed.”  Manufacturing is in decline, unemployment is rising, and GDP is falling.  Media attention has now gone truly global in its search for answers and safe havens; analysis and information is pointing more and more to the developing world for the simple reason that it is still developing.  Recently The Economist Intelligence Unit, in collaboration with George Mason University, released its study covering the most stable countries in which to live and invest during the financial crisis.

EIU top 10:

Norway Denmark Canada Sweden Finland Switzerland Mauritius Costa Rica New Zealand Luxembourg

Immediately evident in this top 10 is that two locations:  Costa Rica and Mauritius have GDPs well below what would be called “developed.”  And, yet, experts have seen fit to include these two small countries in the same company as the common top-10 selections in Scandinavia.  Upon closer examination of the key categories sought by retirees:  low cost of living, quality healthcare, warm climate, access to North America, and political stability; it is Costa Rica that emerges as the clear #1 choice.

On the Radar

If the above study were the only one to highlight the benefits of Costa Rica, it would still cause a stampede.  But another study by Forbes magazine has ranked Costa Rica as #5 in the category of World’s Cleanest Country.  Retirees should indeed be looking for stability and quality of life; the fact that Costa Rica boasts no military, a low cost of living, quality healthcare, and is close to North America is creating a rush of optimism amid world gloom.  This is even further enhanced by the fact that many traditional retirement enclaves such as Panama, Nicaragua and Mexico were much lower ranked on both lists, and all are seeing increasing problems in terms of safety, politics and economy.

Costa Rica actually has been on the radar for quite a while, relative to its size, but has remained dwarfed by expat havens like Mexico. Costa Rica still derives most of its income from tourism.  It stands as the most visited nation in the Central American region, with over 1.5 million foreign visitors in 2008, a higher per capita rate than other popular destinations such as Mexico, Dominican Republic, and Brazil.  Moreover, Costa Rica continues to gain popularity for its strong stance on the environment, leading renown economist Thomas Friedman to write in The New York Times, “More than any nation I’ve ever visited, Costa Rica is insisting that economic growth and environmentalism work together.”  Strong government policy already has encouraged those interested in sustainable living to relocate, and now that many businesses have seen the friendly policies of the Costa Rican government they are recognizing that this is the country where they can grow and benefit from worldwide interest in sustainability and living a life based on wellness.

This small country, the size of West Virginia, has now been praised on every level by the top experts.  One can only imagine what this means for the price of real estate.  Now is the time to evaluate whether Costa Rica is the right choice for you.

Considerations for Costa Rica Expats

We speak with tourists and expats every day.  We have met many tourists who have decided after multiple visits to Costa Rica that this was the county for them; and we also have met people who had done a lot of reading and decided to move immediately without a visit!  We always recommend as many visits as possible in order to properly gauge where exactly you will be most comfortable, but enjoyment of day-to-day life in Costa Rica seems to have much more to do with attitude and perspective.  Our network has identified three traits that appear to be essential to live and prosper outside of your country of birth:

* A desire for new experiences

* An intense thirst for knowledge

* Open mindedness

These three areas sound simple, but one must dig deep into their own inner workings if one can prepare in an honest way. If not properly evaluated, one’s personality and worldview could be in conflict with the idiosyncrasies of a new culture. Proper research and education are the safeguards against the surprises that can derail a dream.

The pace of life in Costa Rica is much slower.  For most people, Costa Rica offers a tranquility that they had been seeking.  The culture is a non-confrontational one, best represented by the fact that the military was abolished in 1948.  In 1949, the abolition of the military was introduced in Article 12 of the Costa Rican Constitution, and it has been a stable democracy ever since.  Non-confrontation is so built in to the Costa Rican psyche that it can be an area of continued frustration for an aggressive and impatient personality who cannot accept that things will not always be done immediately.  But, it is this cultural trait that has resulted in Costa Rica having one of the lowest rates of violent crime in the world.  Most people can accept such a tradeoff.  The slower pace of life can also be seen in a positive way within the medical community.  Time and again, people have reported to us that doctors spend more time, are more thorough, and speak to them as if they are people, not just patients.

The physical climate of Costa Rica has always been a key feature.  As most retirees desire warmer areas, there are not many locations which can boast “The Best Climate of the World” without carrying a price tag to match.  Costa Rica’s climate and landscape most resembles that of Hawaii, at 1/10th of the cost, with a lower rate of crime.  It is a subtropical country in which just about every temperature is available based on elevation.  Some prefer the coast at 90+ degrees Fahrenheit, while others might choose higher elevations, which can experience temperatures in the 40s.   Costa Rica also lies too far south to be a target for hurricanes, which has drawn many more ex-Floridians, who have discovered that the additional safety, still lower cost of real estate and living, as well as the beauty of lush vegetation and mountains, is a magical combination.

First-hand knowledge

There are many Web sites, blogs, online forums, and books that can provide all of the information and details about every aspect of Costa Rica. Forums are a particularly good way to get a balanced assessment of life on the ground.  However, this cannot be a substitute for seeing the country yourself.  If you are interested in housing, it is essential to see the community in which you intend to live.  There are a handful of companies offering relocation tours and this is a good way to see the many areas in which expats live, and enable you to feel the many microclimates of Costa Rica.  One such tour is Boomers in Costa Rica, at www.boomersincostarica.com.  This company offers a unique 4-day tour in which people learn all about living in Costa Rica, what it costs to live here, buying property and much more.

If you are intersted in simply locating a property, it is important to find a credible real estate firm with experts who have intimate knowledge about the area in which you are interested.  One such firm is Costa Rica Land & Property www.realestatecostarican.com.  The owners Terry, Rigo, and Jeff are experts in Central Valley real estate.  Jeff is the author of a book about real estate investing techniques in Costa Rica called, Real Estate Investing Guide: Fundamentals for Profit in Paradise. This book can be found at www.paradiseprofits.com.

For those looking for ocean-view properties at an excellent value, San Ramon is a must-see location.  CR Communities has projects specifically geared toward retirees and investors.  For full details visit www.crcommunities.com.

For those looking to live near the nation’s capital, San José, Ameurope Global Services can help you with real estate and relocation advice for the popular expat suburbs of Escazú and Santa Ana.  These areas are closest to the best hospital in all of Latin America, Hospital CIMA.  These areas are also popular for those who wish to be close to upscale shopping, the main business districts, and the cultural choices of museums and The National Theater in San José.  For a full description visit www.ameuropeservices.com

It’s rarely said that looking to relocate to Costa Rica is not an adventure—it can be.  However, it can also be great fun if you keep your eyes and ears open and go with your most important emotion—your common sense.  In the meantime, contact some of the professionals in this article and get the assistance you deserve.  Pura Vida!

Michael Anthony writes for one of Costa Rica’s leading real estate magazines: Costa Rica Real Estate and Tourism Guide. He is currently at work writing a book about environmental protection in Costa Rica, as well as creating a web portal for green business.

Everyone can now relax. We are officially IN a RECESSION. You probably have known that for some time now, but the official word hs come down from the mountain tops and here’s what the tablets have written on them. The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday.

The NBER—a private, nonprofit research organization—said its group of academic economists who determine business cycles met and decided that the U.S. recession began last December. 

The White House commented on the news that a second downturn has officially begun on President George W. Bush’s watch without ever actually using the word “recession,” a term the president and his aides have repeatedly avoided. Instead, spokesman Tony Fratto remarked upon the fact that NBER “determines the start and end dates of business cycles.” One must keep up the optimistic and stoic look you know!

“What’s important is what is being done about it,” Fratto said. “The most important things we can do for the economy right now are to return the financial and credit markets to normal, and to continue to make progress in housing, and that’s where we’ll continue to focus.” But,  President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he’ll back more government intervention if needed to ease the recession.

“I’m sorry it’s happening, of course,” Bush said in a wide-ranging interview with ABC’s “World News,” which was airing Monday. “Obviously I don’t like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we’re in. And if we need to be in more, we will.” Easy for him to say because that’s no sweat off of his brow bro!

Ah, the Bush legacy, two terms: two recessions, too wars, and too bad!  

As a spiritual-futurist, I interpret current events in light of possible macro-universal forces at play leading up to 2012, but not limited to it.

If you believe only what you read in the press then you won’t be looking to step out of your house at the moment, never mind think of travelling abroad … and as if the credit crisis wasn’t enough, now we are also faced by near parity between the pound and the euro. Yet if you are prepared to look below the surface I think you will see things look much more interesting … especially here on the Costa Blanca in Spain. In fact I would go further and say that all of the reasons why Spain has been the most attractive destination for both holidays and second homes for us Brits remain valid … and some may have got better!

When the oil price was spiralling out of control last year there were serious fears that we might be seeing the end of cheap flights. Thankfully, this has not proved to be the case at all, and if you are able to travel light with hand luggage only, then there are some phenomenal bargains to be had on the budget airlines – just make sure you don’t ignore the terms and conditions as penalty charges are harsh!

And once you are over in Spain, how to get around? You will find car hire which given the immense competition has always been good value, is now even cheaper as companies fight to fill the fleets of empty cars that they find they now can’t sell. You do not need to book only with the internet brokers to find a deal. I for one find considerable peace of mind in dealing with the hire car companies direct – the response to any problem should it occur is much better for a start.  Similarly, excessive supply means there are some real bargains available when it comes to accommodation and owners are very concerned that they may not get any summer bookings so it may not be necessary or prudent to wait for the last minute to make that reservation – especially if you want to pick from some of the gems you can find here, not just the leftovers.

Eating out has always been one of the big attractions in Spain. True, prices have risen since the arrival of the Euro, but you really don’t have to look hard to find great value, with many of the better restaurants now offering inventive and high quality “menu del dias” with dishes selected off the a la carte menu to attract in the clientele. And I don’t need to add the wine remains as tasty and cheap as ever!

Yet Spain has become more than just an occasional holiday destination. Changes in the buying process over the years, the higher priority given to leisure time and most notably the increasing interest in second homes have all contributed to the house-buying boom over recent years.

In this regard the excellent accessibility of Spain from the UK can not be ignored – not just the short travel time, but also the number of daily flights and departure points. People are increasingly looking at Spain as a preferred place to live – both in retirement, and more and more as a better environment to bring up a family. That is not saying there aren’t negatives here … not at all – the worst for example we refer to it as “being Spained” in our attempt to soften the frustrations experienced when dealing with the mind numbing bureaucracy and officialdom over here (although it is the way the country works and is the same for all – not just the foreigners). The counterbalance though is the attitude and way of life, with people choosing to focus on enjoying the positives, rather than concentrating on the negatives as seems to be the way all too often in the UK.

And of course we must not forget the weather … yes the reality might be that Spain is a cold country with a hot sun … but the sun does come out a lot! And it isn’t only the summer months that are great. No, there was something nice about having breakfast last Christmas Day outside on the terrace. And the fact that in winter the earliest it gets dark is nearly 6pm … well enough said!

But hang on a minute – why bring up house buying when all is doom and gloom at the moment. Well that isn’t exactly the case. It is true that it is not a great time to be a forced seller. But as a buyer, for the first time in some years there are some real opportunities appearing. Following the building boom of recent years there are clearly significantly more sellers than buyers at the moment, which puts the buyers firmly in the driving seat. This is particularly true in the “off plan” sector where investors who expected to sell their part completed project for a quick profit, are now being forced to make the completion payments they never expected to have to make. The credit crisis and reluctance of the banks to lend is also currently creating a window of opportunity for those who already have the necessary finance in place – those able to move quickly are not only able to take advantage of the increasing number of repossession properties, but to also make cheeky “take it or leave it” offers. The current lack of liquidity globally has exaggerated this position of power but with all the concerted governmental efforts being made this will not last for ever – eventually the “credit” dam will become unjammed.

Clearly the exchange rate is an issue, and we do not know how long this current situation will last. Nevertheless it is not necessarily a block to taking advantage of current market opportunities – particularly if you are able to find a seller looking to repatriate funds to the UK … of which there are a growing number at the moment … in which case a lower euro price today will still equate to the sterling value of early last year.

Please don’t think I am saying everything is attractive at the moment. For a start, many properties are cheap for a reason and given the available alternatives will remain so at almost any price. You must not loose sight in the rush to pick up a bargain of the need to do proper due diligence. Even the infamous Valencian “land grab” law, which whilst never the threat to all houses as depicted in some of the UK sensationalist press, has now been moved to the back-burner as large building projects are shelved. But don’t be fooled that it has disappeared off the statutes – it will return when times get better, and needs to be considered … but only for certain types of property.

Remember, “the night is darkest just before dawn” … yes things are pretty bleak out there in the world at the moment. There has never been an economic downturn co-ordinated in so many countries at the same time, but it is only a cycle and things will get better again. The reasons why people want to buy a property abroad – particularly in Spain – remain unchanged. What has changed is that now the choice is greater and prices are much more affordable – at times reaching “bargain basement” levels. I would be lying if I said I or anyone one else can accurately predict the bottom of the market. But two things I do know are that we only know we reached the bottom, sometime after we have passed it, and that the greatest choice and opportunities are before the consensus joins in.

Whenever you decide to act – now in the down-turn, or once things have got better – the advice you must not ignore is that most mistakes happen when buyers do not do the proper due diligence and did not take professional advice. You wouldn’t do it in your home country where presumably you understand the rules pretty well. Whilst the system in Spain has improved over time, it is still a foreign system conducted in a foreign language.

If you are planning to buy in the Costa Blanca area in the coming months, or are looking for more information to see whether the possibility is an attractive one then talk to Costa Select where you can find a complete and professional buyer-focused property finding service.

Janine O’Dell is property consultant at Costa Select in Spain