Strategies for Buying a Hot REO

Real estate owned (REO) properties are previous foreclosures that weren’t purchased at auction. The bank or financial institution now owns the property outright. In most instances, the bank previously held the property mortgage. Since banks aren’t in the business of owning or managing a property portfolio, it’s possible for the buyer or investor to purchase at advantageous prices. There are risks associated with buying REOs. Here are several suggestions to help first time buyers make a financially favorable deal:

Ask for an inspection

REOs aren’t traditional properties. These usually bank-owned investments must be liquidated as is because the bank isn’t interested in making improvements or performing repairs. The bank wants to pass along any issues related to the property to the new owner. However, a smart investor knows how to pre-inspect the property or engages a certified reputable home inspector to view the property. Although this costs a bit more at the outset, the ability to identify expensive repairs or problems can save capital later. According to authors Tim and Aram Shah of “REO Boom: How to Manage, List, and Cash in on Bank-Owned Properties,” (2013) the information gained can be effectively used to negotiate a better price with the seller.

Have more cash on hand

If the REO property is attractive, it’s likely to generate many offers. In some cases, the property is so attractive that the buyer must have more money available to increase his or her offer. If adding to the purchase price isn’t possible, cash on hand can accelerate the close or a higher cash deposit can be sufficiently attractive to the seller. Of course, it’s best to offer a realistic bid at the outset.


 

Kuba Jewgieniew practices a data-driven approach to real estate brokerage. His techniques have elevated Realty ONE Group to the top of real estate brokerage firms in the United States. Let Kuba Jewgieniew and Realty ONE Group help you buy or sell your next property.

July 23rd, 2014 | Leave a Comment

Real Estate is Exploding in the Cayman Islands

Written by:James Bovell

The Cayman Islands is entering the summer slow season, but the real estate market is still heating up. You can still find many commercial properties, as well as many water front Caribbean home sales. There are new condominium developments coming to the Seven Mile Beach corridor of Grand Cayman, and solid activity in the industry. The overwhelming majority of Cayman Islands’ residents live on Grand Cayman, the largest of the islands, but there is activity in Little Cayman and Cayman Brac as well.

The hot item is condos. Luxury vacation beach front condos are some of the most desirable homes for sale on Cayman Islands. This year’s sales are up significantly over last year’s. There are many tax advantages to living in Grand Cayman compared to other Caribbean destinations. There are no income taxes , no annual property taxes , and no capital gains tax on the sale of property.

If you are browsing real estate in the area, you’ll want to scope out the fabulous WaterColours residences, which opens in July of 2014. WaterColours is a series of luxury condominiums built on the luxurious Seven Mile Beach stretch of Grand Cayman. As of this writing, there are still a handful of condos available for your viewing and purchase.

The Cayman Islands are constantly in development, and waterfront land is starting to become a scarce commodity. As more properties are debuted, it will be an exciting race to find the best view or the most secluded beaches. Come to Grand Cayman and experience this explosion for yourself with agents from Dream Finders.

July 21st, 2014 | Leave a Comment

Marketing with cultural differences

Written by E21 Magic Media

Finding a Taiwan marketing agency or a China pr agency is something that you need to do as a foreign company that wants to do business in new countries. The primary reason for this is that cultural differences between your home country and the foreign country that you may want to do business in may be so great that if you stick with your domestic marketing campaign, you might eventually drive away your customers from purchasing your products. If you want to make it big in a new country, you should also adjust your marketing campaign to suit cultural differences so you would not inadvertently insult or alienate different cultures in the process. Think about it, if you want to sell products in a country whose religion is predominantly Muslim, you may want to dial down on your marketing campaign involving beautiful women in bikinis. Their religion as well as their laws do not see this as a good marketing strategy. If you don’t stop it, you will draw the ire and disrespect of local consumers and business leaders alike. You want to have a marketing campaign that’s effective in a foreign market, and that’s why you should also get local advertising firms in the country you want to do business in if you want to make your marketing campaign effective. You cannot just operate on the notion that your product will sell like crazy just because your marketing campaign back home was very effective. This is a new ballgame now.

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If you need a marketing firm asia, these guys are the ones for you. They are competent, and they know their market very well.

July 17th, 2014 | Leave a Comment

What the best cash register would be for your business

Written by Cash Registers Online

Cash registers are more than just machines that make sure your money is tucked away in a safe place while your store operates the entire day. It also records all the transactions your business enters into, providing you with a very accurate record that you can use to update your books. As a matter of fact, if you’re looking for the best point of sale cash register and Point of sale supplies, all you need to do is pay a quick visit to any Cash register store. So why point of sale? Well, aside from accurately recording your transactions, you would also be able to check them online at real time apart from being able to convert all your data and transactions into other documents like a balance sheet. Other than that, you would also be able to convert them into data that you can use in accomplishing your tax forms as well. So these point of sale systems sound very effective and complex, are they expensive? As a matter of fact, they actually aren’t. it is a must that you should have a point of sale cash register in your business, and that’s because things would go a whole lot smoother with them. But before you buy one, you must have to make sure as well that your staff is well-trained to operate them. Make it a point as well that they should never miss a single transaction when recording them. Otherwise, your records wouldn’t be accurate due to unrecorded transactions.

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Cash register keyboard covers are important to make sure that your registers remain clean and free from any dirt or debris. This way you can make sure that everything stays clean in your store.

July 9th, 2014 | Leave a Comment

5 Up-and-Coming Richmond Neighborhoods Worth Checking Out

Like many mid-sized American cities, Richmond is in a constant state of flux as far as the desirability of its neighborhoods is concerned. Old standbys fall out of favor and new stalwarts gain cachet as time goes by. If you’re looking for real estate in a Richmond neighborhood with a bright future, the following locales are extremely viable options.

Carver

Centered around West Clay Street just north of Virginia Commonwealth University, Carver is an affordable graduate student favorite. The relative quiet and safety of Carver makes it a good choice for families with younger children. If you’re interested in seeing steady home value appreciation over the coming decade, buying a Carver house is a prudent decision.

Oregon Hill

Despite its former reputation as a rougher part of town, Oregon Hill has been going through the process of gentrification for quite some time now. Many a Richmond realtor will quickly tell you that Oregon Hill is a great place to find diamonds in the rough that just need a little TLC to really shine.

Woodland Heights

This Southside streetcar neighborhood boasts one of the most diverse arrays of Virginia homes you’ll find in the greater Richmond area. Though it’s located just minutes from downtown, Woodland Heights features a distinctly suburban feel. If you’re looking for solid property values at bargain prices and don’t like congestion, this hidden gem of a neighborhood is a must-see.

Raintree

A planned West End neighborhood dating back to the 1980s, Raintree is the perfect choice for first-time home buyers and young families. The typical Raintree home is spacious and fairly modern with a decent yard to boot. Thanks to its convenient location, moderate prices and superb local schools, Raintree is basically the Goldilocks of Richmond residential neighborhoods.

Bon Air

Once upon a time, Bon Air was a popular recreational area for 19th century Richmond residents. Nowadays, it’s a solidly middle-class Southside community with excellent schools, reasonable traffic and plenty of attractive properties to choose from. If you don’t mind a moderate drive to get to downtown, Bon Air is an appealing suburban community worth investigating.

Promising Opportunities Abound

The Richmond VA real estate scene is quietly one of the most exciting in the United States at present. With so many neighborhoods on the rise, it’s easier than ever to snag a prime Richmond property at an affordable price. As impressive as the aforementioned neighborhoods are, they’re just the tip of the iceberg.
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Relocate to Richmond with a Richmond realtor today. Browse properties in Richmond, and move into your dream home today.

July 8th, 2014 | Leave a Comment

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