How Much Is Your Home Worth? Ask Your San Diego Realtor!

As you prepare to sell your home, the main question on your mind is ?How much is my home worth?? Your San Diego realtor can assist you much better than the web sites on the Internet with their ?home worth? calculators or even the price being asked by a close neighbor.

Your realtor takes many factors into consideration when determining the asking price for a home. Here are the major factors your realtor will evaluate:

?Type of Residence. The type of home you are selling will make a difference in the pricing. Is it a primary residence, secondary, vacation home, or rental? How it has been used in the past could impact how your realtor markets your property or how potential buyers will use it.

?Type of Property. The value will differ, depending if the property is a single family home, multiple family home, townhouse, condominium, manufactured or modular home, or a mobile home.

?Size of the Property. Is the size of the land a city lot, a ? acre, full acre, or several acres? The more land, the higher the value. The position of the property makes a difference in the value. For example, a corner lot can bring in a higher selling price than one in the middle of a block.

?Square Footage. The approximate square footage of your home is factored in; otherwise, how much living space is there?

?Overall Condition. Your realtor will assess the condition of your home and property, which will greatly affect your selling price. The realtor also will make improvement suggestions that can increase the value of your property.

?Architectural Style. If you home was built in a style that is in great demand, the selling price will be higher than if built in an outdated style that is not in demand.

?How Old Is the Home? How long ago your home was built can affect its value.

?The Numbers. How many fireplaces are there? The number of bedrooms and bathrooms (including half baths) also can raise or lower the home?s value.

?Parking Facilities. Garage, carport, off street parking, parking on the street, or a combination of these is an essential feature for buyers. Your realtor will evaluate how many cars will the available parking accommodate?

?Type of Heating and Cooling. How is the home heated ? electric, natural gas, oil or propane? What type of air conditioning does it have? What is the quality and condition of the units, how old are they, and what type of maintenance has been done in the past?

?Basement. Whether there is only a crawl space versus a basement affects your selling price. Other features your realtor will evaluate is a partial versus a full basement, and whether it is unfinished, finished or partially finished.

?Other Home Features. Some other features your realtor will look for are a den or study, the amount of closet and storage space, the amount of kitchen cabinet and pantry space, and whether there is a pool, a guest house, and tennis court.

It is important to note that your realtor is viewing your home objectively. He or she is not tied up in the emotional attachments you have to your home, but rather looking at it from the perspective of the potential buyer. Additionally, some of those pricey improvements you made may not translate to a higher selling price. Many such improvement costs are rarely recouped from the sell of the home.

The Housing Market

After assessing your property, your realtor will take a closer look at your neighborhood and what its location has to offer. For instance, if there has been any bad publicity in your area, the value of your home may drop, especially if the publicity concerns a serious crime. On the other hand, if your home is located near some truly great schools with high scholastic achievements ratings, your home value could improve, as well as give you a great marketing edge.

Lastly, your realtor will assess the current housing market for your area. It used to be that you could locate a similar home in your neighborhood that had sold recently, add a ten percent increase, and you had your selling price. Home prices in the San Diego area, as well as in 75 other metro areas in the nation, have skyrocketed and are now on a slow decline, which makes for a volatile housing market. A poorly priced home means it could sit on the market overly long, ensuring you will have a difficult time selling it at all. Thus, it is even more important at this time to use an experienced realtor.

Ultimately, the buyer determines the actual selling price; however, an experienced realtor can ensure that you get the best price for your property and the fastest sale possible.

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Make The First Impression a Great One

First impressions are critical. Just like the view from the curb may prevent a buyer from getting out of the car, the view inside the house determines whether they make an offer. Buyers need to be able to imagine themselves living in your home, or perhaps more to the point, they need to envision your home as theirs. You can accomplish this by staging your home.

Home staging is the process of preparing your home for sale to make its best impression on prospective buyers. It can be as simple as cleaning the house and putting out fresh flowers or as complicated as hiring a consultant to determine what furnishings and decorations best suit your home while it?s on the market. Big budget or small, how you present your home to potential buyers can affect how quickly it sells.

Cleaning and decluttering are essential. The whole house should sparkle ? especially kitchens and bathrooms. Clear off counters and organize cabinets and closets. Too much ?stuff? is distracting and makes spaces feel cramped and small ? definitely not a good impression. Remove furniture that blocks the natural traffic flow, being sure there is a clear walkway to all windows and that the windows and screens are clean.

Visual cues help buyers process your home?s features. Keeping room d?cor simple makes it easy to ascertain a room?s purpose. A bed and a dresser in a room with a closet are all it takes to show that a room can be used as a bedroom. A table with chairs identify a dining area, formal or otherwise. Staging rooms for their traditional purpose helps buyers understand your home. Whether the final buyer decides to use rooms the way you show them doesn?t matter.

There is a lot you can do yourself to get your home looking its best. Consult with your real estate professional before you start any projects to be sure that the payoff is worth the investment. Remember, once you decide to sell your home, it?s a good idea to behave as if it isn?t your ?home,? anymore. Cutting the emotional ties makes it easier to get your ?house? sold fast.

Shawn Buryska is a realtor in Rochester MN, specializing in home real estate, buying a new home, selling your old home, or helping you search Southeastern Minnesota MLS Listings.

Costa Rica Watch Out for the Real Estate Sharks

Thinking about buying real estate in Costa Rica? It could be a great investment or your biggest headache. Read on to learn how to stack the odds in your favor.

Costa Rica does not regulate the real estate business and this leaves you, the buyer, at a huge disadvantage. All real estate agents in Costa Rica are in business for only one reason - to make money. They only make money when they sell a property. All the agent wants is your money. The expression ?shark? is a very fitting synonymous for ?real estate agent.? However, in my opinion, it is it is a derogatory comment about sharks.

Agents can be great people, best friends and can even be from your home country but do not trust them as the final authority with your investment money. They do not have your best interest at heart.

Here is my personal list of real estate stories (lies?) that I have heard from several agents in Costa Rica.

1. All Ticos (Costa Rican's) are out to screw you! I have found that some are and others are not out to take advantage of you financially. After living here for a year, personally I am more leery of Gringos trying to sell me something than the Ticos. This is because I know what the Tico wants but do not know the Gringo?s true agenda. Anyone who uses such generalizations should be included in the group that they are criticizing.

2. ?We don?t mark up property like other agencies...? They may not use the same % of markup (called ?Net Listings? which are illegal in the US) but don?t believe them unless they will let you or your attorney talk directly to the seller to verify the asking price. There is one very well known agent in the northern central valley that has previously openly advertised that he doesn?t mark up properties when in reality he does mark up property whenever he thinks he can do so. I forgot the exact words he used but the gist was: Real estate in Costa Rica is unregulated so we can do anything we want.

3. We charge a commission to the buyer because Costa Rican?s don?t pay commission. What a line if I ever heard one! Costa Ricans are not dumb and they know that to sell the property, they probably have to pay someone to find a buyer. Is the agent double dipping? I don?t know but I am willing to bet that nine times out of ten the seller is paying someone to get the property sold and the agent is making money on both sides of the transaction.

4. You or your attorney cannot talk directly to the seller. The excuse often given is that they are afraid your attorney is unscrupulous and may steal the property or something like that. My supposition is that the agent is either marking the property up and/or charging the buyers a commission while the seller is also paying a commission.

5. ?We have already done all of the due diligence for you.? When problem arises the water or electricity or the neighbors, your agent is not going to pay to fix it, rather he will say something like ?Gee I?m awfully sorry, I didn?t know about that.? One agent is advertising that they have done ALL of the due diligence on their properties before they list them. If that is the case, I wonder why the property I purchased from that agent doesn?t have any water available when he stated to me that it had water on the property.

6. Your agent states that he is making a full and truthful disclosure to you. California has one of the toughest disclosure laws in the real estate industry while Costa Rica has none. One agency in the northern central valley is currently promoting a house they are building on speculation by saying Vulcan Poas is not dangerous. In March, 2006, Vulcan Poas roared back to life (it is and has been one of the two most active volcanoes in Costa Rica) and scientists are now concerned because the water temperature of the lake is some 30 degrees hotter than normal. Is this a full and accurate disclosure? Not in my opinion.

7. Your earnest money deposit is not refundable. Some agents use contracts or ?letters of intent? that state that deposits are nonrefundable and that the seller receives the deposit immediately! You can and should write a purchase contract where your deposit is held in escrow and is refundable if certain conditions are not met. I strongly advise that you think long and hard about a deal if the agent says you have to make a nonrefundable deposit.

8. The seller can change his mind any time he wants and refuse to sell. Again, some agents do not know how to or do not want to write a correct contract. If you have a purchase option and have it recorded, it will be much more difficult for the seller to back out.

9. You don?t need to use your own attorney. Just read our personal experience with attorneys and you will see why it is imperative that your attorney represent you and only you.

10. You have to pay all of the closing costs. The custom in Costa Rica is to split the closing costs equally between the seller and the buyer. Of course you and the seller can agree on other terms but don?t start off by offering to pay for everything - that just makes the job easier for the agent.

11. You don?t need a new plano. Your plano is a legal survey of the property. Unless you get a new plano you will not know for certain that what you are looking at is really what you are buying. It is a fact that some fences are occasionally moved by the neighbors and a lot of older surveys are flawed.

12. Don?t worry about utilities... The previously mentioned agent and his associates use practically the same story for every lot they show to their clients - ?Electricity should cost about $3,000. The road should be about $2,500 and water is right over there.? Just make sure you verify everything with the proper authorities and get real estimates from the people that will be doing the work. Don?t be surprised if you find out that the real costs for installing utilities are up to 10 times as much as the agent stated.

13. The water is safe to drink. Over 90% of the surface water in Costa Rica is polluted with gray water runoff, industrial pollution, farm run-off and human waste. Even the large municipalidades have problems with human waste and gas getting into their wells. If you don?t know where the water is coming from get it tested.

14. Gringos are more honest than Ticos. This is a common misconception or misplaced belief on the buyer?s part that makes them feel more comfortable parting with their money. It is really easy to fall into this ?comfort trap? and believe that all Gringos are honest. The simple fact is that it is easier for a Gringo to sell property or an investment to another Gringo. Think about it - Why are all of the international time share resorts are staffed with Gringo sales people?

15. No, the lot isn?t too steep... If the property is steep you have two options: Build on piers which is more costly or: Cut out a building pad. Either way make sure you allow for adequate drainage. I have seen some lots carved out of a hillside where there is bare earth for forty to fifty feet almost straight up. Landslides are common in Costa Rica, even though it is practically all volcanic soil. Don?t think your lot is an exception unless you obtain an engineer?s opinion. My uneducated opinion is that a retaining wall just delays the inevitable. When in doubt ask an engineer, not your agent.

16. Ticos are not litigious like people from the US. This is an out right lie. There are so many suits pending in Costa Rica, some courts are backed up for up to 10 years.

17. ?I am an expert on Costa Rica real estate.? Ask them how long they have been in the country selling real estate. If they have not lived here full time for at least 10 years, then they, like me, are not experts.

How do you avoid these traps? Check out Living and Building in Costa Rica at http://www.die-trying.com/html/retruth.html.

All of these ?myths? are solely my opinions and are based on situations where I have personal knowledge of the facts.

Remember, nobody, including me, cares more about your future than you do. Verify, verify and re-verify before you invest.

David L. McDuffie is a US citizen that has adopted Costa Rica as his new home. Mr. McDuffie is a Custom Home Builder and Home Designer in Costa Rica at http://www.crbuilders.com You can learn about Discount Architectural Services at http://www.crplans.com

What to Look For In a Los Angeles Real Estate Company

Each year, a large number of American homeowners decide to sell their homes. If you are one of those homeowners, have you already sold your home? If not, what method of selling do you plan on selecting? Many homeowners are under the misconception that selling their home without professional assistance will return a higher profit.

If you live in or around the Los Angeles area, you may want to consider seeking professional assistance from a Los Angeles real estate company. Real estate companies are usually a collection of agents who specialize in offering assistance to homeowner?s who are looking to sell their home. If you are interested in seeking assistance from a Los Angeles real estate company, you have a number of ways to find the perfect company.

If you live in the Los Angeles area, you can use your local phone book to find a number of local real estate companies. To find the perfect Los Angeles real estate company, it is advised that you speak to a number of real estate agents. This means that you should contact multiple real estate companies. In your local phone book, these companies should be listed under the heading of real estate.

In addition to using your local phone book, you can also use the internet to find the contact information of multiple real estate companies in or around the Los Angeles area. There are a large number of online business directories and online phone books. You can easily use these resources to find a number of local real estate agents.

It is also possible that you could find a local real estate company?s online website. These online websites can most easily be found by performing a standard internet search. You can search for a specific real estate company or you search for companies located specifically in the Los Angeles area. Whichever online search method you choose, you should be provided with a large number of results.

Before deciding on a particular Los Angeles real estate company, you are encouraged to meet the agent or agents that you will be working with. When meeting these individuals, you are encouraged to examine their customer service skills, along with their training and experience selling real estate. An agent?s customer service skills and real estate training is vital to the successful sale of your home.

When examining a particular real estate company or agent, you will also need to determine their method of payment. Most real estate companies will receive their fees based on a preset commission percentage. The exact dollar amount of this percentage will be determined after your home has sold. With the proper amount of research, it is possible to find a Los Angeles real estate company that only requests a one percent commission.

Taking the time to find and examine a number of real estate companies in the Los Angeles area is the best way to ensure you are getting what you pay for. Why settle for second best, especially when with a little bit of time and research you can find the best real estate company in the Los Angeles area?

Brad Horn is a writer for 1 percent realtor where you can find a great resource for information regarding a Los Angeles Real Estate Company

10 Keys to Success as a Beginning Real Estate Investor

Ever thought about becoming a real estate investor but weren?t sure where to start? You?ve got company. People just like you have purchased millions of books, tapes and videos from the Robert Kiyosaki?s, Carlton Sheets? and Robert Allen?s of the world looking for the keys to investing puzzle. However, very few actually get started and even fewer make any money at it. You might still feel as if there are too many obstacles in your way.

Let me encourage you. Just because you might lack a large cash balance, may not have a great credit rating or may not have years of experience as a wheeler-dealer doesn't mean that you can't enjoy success as a real estate investor. I am walking proof. I have helped real estate investors obtain millions of dollars in financing for their projects and, along the way, I think I?ve seen every type of investor possible.

In my job, I?ve had the benefit of seeing many people succeed wildly and many others lose thousands of dollars almost overnight. Here are some ideas that, in my experience, will lead to greater success for you:

1.Determine your goals. Where do you want real estate to take you? Approach your real estate career just like you would any other business by deciding where you want to be in one year, three years or deeper into the future. Knowing where you want to end up helps you choose the right road.

2.Choose the best path for you. What level of profitability do you want to achieve? How much risk can you tolerate? One thing I love about real estate is that there are at least 100 different ways to make money. For example, you could consider

?Rehabbing and reselling single-family properties

?Buying homes and holding them as rental properties

?Becoming a real estate agent

?Brokering or owning office and commercial properties

?Investing through limited partnerships or becoming a private money lender

The thing that matters most is that you find a path that is in line with your lifestyle in terms of how much you want to participate in various investment vehicles.

3.Do your homework. You can lose a lot of money fast if you don?t exercise the discipline to educate yourself and get good advisors. Talk to people about various lending programs, rates and terms in the marketplace. Read some trade magazines or subscribe to wonderful newsletters such as Peter Pike?s Dispatch (http://www.pikenet.com/) to bolster your understanding of real estate trends.

4.Location, location, location. Learn the makeup of your local market. Buy locations. You can change everything about a property except where it is located. I haven?t seen too many folks make money by having the market bail them out of a bad situation. It usually doesn?t happen that way.

5.Ask questions. When you find a property or project, talk to the neighbors. They will tell you everything you could want to know and more?including why the owner is really selling. Interview Realtors. Some have worked in certain neighborhoods long enough to have brokered the same property several times over the years.

6.Appraisals and inspections are your friends. Unless you are already a millionaire real estate investor, stop listening to your ?gut? feeling. If you are a millionaire real estate investor, you probably aren?t reading this article. Therefore, I feel safe in recommending that you always get a second and third set of eyes to look at every investment you?re considering. Better to spend a few dollars to save thousands, right?

7.Line up your professional team. Ask for references and check them. Be willing to fire them and move on if they aren?t performing. You?ll want to establish a relationship with a good attorney, real estate broker, mortgage broker, accountant, inspector, appraiser and a title company along with others that you may work with from time to time.

8.Know your numbers and respect them. You are probably not so much brighter than everyone else that you can rewrite the rules. (Not yet.) Take the time to learn how to analyze debt coverage ratios, local days-on-market, property rental rates, occupancy averages, etc. Respect what your research tells you and?

9.Always be willing to walk away from a deal. It is your money and your time that are at stake. You are making all the ongoing commitments and taking much of the risk. Don?t let anyone pressure you. No one gets paid until you start signing papers; so wait until you are ready before going forward. Once you?re ready?

10.Get started and never give up. You might do a bad deal or two. That?s okay. It?s better to learn early in your career, right? There is a way to breakthrough and accomplish all your dreams. You just have to hang in there until you find it.

In most of the cases, people lose because they violated one or more of the above keys. The more you guide your real estate investing career by these rules, the better off you?ll do. Maybe you?ll be sending me a testimonial recounting your latest success one day? I hope so.

In the mean time, if you need assistance identifying your goals, locating advisors, evaluating opportunities or financing your projects, contact me today for help. In fact, I have a free ?Deal Evaluator? in Microsoft Excel format that I will send you free when you e-mail me. No matter where you are starting, the exciting and wealth-building world of real estate investing isn't closed to you.

I wish you great success.

Mark Anthony McCray, author of the upcoming books, ?The 31 Rules for Succeeding as a Mortgage Broker? and ?The 31 Rules for Prospering Financially? (http://www.the31rules.com), is the Founder and CEO of Houston, TX based First Capital Mortgage Company (http://www.dealsdone.net). First Capital is a commercial mortgage banking and brokerage firm that has helped its clients leverage millions of dollars in financing for their real estate acquisitions, developments and investments over the years. Write to Mark at mark@dealsdone.net or call 713-267-4040 for more information about the author or First Capital?s services.

What are Serviced Apartments?

It seems that everybody?s talking about serviced apartments and how they are going to become the hotels of the future. But what exactly are they and what?s all the fuss about?

A serviced apartment is a property that has been fully furnished and is available for very short term let. Sometimes serviced apartments can be rented for as short a period of time as one week. Although most serviced apartments require guests to stay for at least a minimum of a week, some allow you to book for just one night.

Serviced apartments that allow one night stays are normally linked to big hotel chains. Hilton and Marriott have serviced apartments for instance.

Serviced apartments normally have a living room, fully fitted kitchen, bathrooms and bedrooms. The number of bedrooms varies by apartment and you get to choose how many you want in the one that you rent.

As well as being fully furnished and offering a lot of space to spread out, serviced apartments are also equipped with the latest communication devices. They tend to have direct dial telephones, fax machines, broadband connections and satellite television.

This means that you do not have to worry about shipping your furniture when you relocate. The idea behind this is to reduce the stress and hassle associated with moving as much as possible.

In addition to this some serviced apartments also offer services that you might expect to only find in a hotel. For instance, many of them have a 24 hour concierge service, in-house maintenance and even a daily maid service.

Serviced apartments are designed to make your life as easy as possible. As a result most will give you a welcome hamper when you arrive. This contains essentials like tea and coffee as well as bread butter and milk to help you get on your feet.

Serviced apartments are becoming popular amongst executives relocating abroad because they offer a home from home. Guests do not have to worry about shipping furniture, utensils, telephones and televisions because the apartments are fully equipped with everything that you might need during your stay.

Select Apartments specialises in finding serviced apartmentsthroughout the world for business travelers.

Identity Theft: The Devastating Impact It Can Have On Real Estate Investors

Identity theft has emerged as one of the dominant white collar crimes of the 21st century?a crime that can range from inconvenient to catastrophic for its victims. Though everyone needs to safeguard their personal information, it is especially important that you as a real estate investor protect yourself.

To understand why, let?s first discuss exactly what identity theft is: The criminal steals your personal information to facilitate other crimes, such as credit card fraud, check fraud, or mortgage fraud. An identity thief can open new accounts in the name of a victim, borrow funds in the victim?s name, or take over and withdraw funds from existing accounts. While these are the most prevalent, the FBI says that these financial crimes are not the only criminal uses of stolen personal information. Other crimes can even include evading detection by law enforcement in the commission of violent crimes. Beyond the direct economic impact of identity theft, victims may be unable to cash checks, obtain credit, or purchase real estate for a period of months or even years?and they may even be arrested for crimes committed by the identity thief.

If you are the victim of identity theft, you could easily find yourself in the middle of a great deal and be unable to close because the financing won?t go through. Correcting a credit report damaged by an identity thief is a time-consuming process?you?ll probably lose that deal and others before you get the problem resolved. The solution is to avoid becoming a victim or, if you are a victim, to find out early enough to minimize the damage.

Signs that you may be a victim of identity theft include:

- Charges on your accounts that you did not authorize.

- If you are denied credit even though you have a good credit history.

- If you are contacted by creditors regarding debts you never authorized for goods and services you never received.

- If your credit card and bank statements are not received in the mail as usual.

- If a new or renewed credit card is not received.

The most important thing you can do to avoid becoming a victim of identity theft is to be aware of the problem and protect your personal information. Store your personal information in a safe place and don?t give it out unless you initiated the contact. Remove your name from mailing lists for pre-approved credit lines and telemarketers. Shred credit card receipts and old statements before discarding. And check your credit report regularly.

You are entitled to receive a free copy of your credit report from each of the three major credit bureaus once a year. (Go to www.annualcreditreport.com to order yours.) Though it?s possible for each credit report to be different, they usually contain much of the same information. Request one every four months and check the report carefully for unfamiliar activity. Take immediate action if you see anything that looks suspicious.

Consider investing in a credit monitoring service which will alert you to changes in your credit file. The cost ranges from $24 to $60 a year. Money Magazine?s Pat Regnier says this may be worthwhile if ?you?re a biz owner or real estate buyer who can?t afford any halt on your credit after an ID fraud.?

Bottom line: don?t make it easy for someone to steal what you?ve worked hard to build.

If the Worst Happens

If you are?or even suspect you might be?a victim of identity theft, take immediate action. Follow these steps recommended by the FBI:

- Contact the fraud departments for the three major credit bureaus to place fraud alerts on your credit file to reduce your risk of further victimization.

- Obtain and review a current copy of your credit report; the credit bureaus should automatically send that to you when you request the fraud alert.

- Contact the account issuer(s) where fraudulent accounts have been opened or your accounts have been taken over; ask for the fraud/security department and notify them by phone and in writing.

- Close all tampered or fraudulent accounts and ask about the existence of secondary cards.

- File a report with your local police department, as well as with the police department in the area where the ID theft occurred; get copies of the police reports.

- Keep a detailed log of who you spoke with and when, including name, title, phone number, and other contact information.

- File an identity theft complaint at www.consumer.gov.

Jordan Taylor is the editor of Millionaire Mentor? Newsletter, which is published by Whitney Education Group, Inc.? To sign up for a free subscription, visit http://www.russwhitney.com