By Reg Gustin Platinum Quality Author
Generating leads through the Internet is an excellent tool for expanding your business, eliminating geographical barriers and increasing sales.
But how do we create leads from cyber space? After all, the information highway is infinite with no boundaries. How can a small business owner, you the real estate agent, create qualified traffic?
Imagine your web site is a small store on a busy street and you are surrounded by large corporate department stores. Outside your store window are pedestrians, bicyclists and automobiles passing by. This is traffic. And, in this traffic are people interested in your product. These are prospects. Of these prospects, some will come in the store and make inquiries. These are contacts. Some of these contacts will start to shop. These are leads. Some of these shoppers will make a purchase. These are clients.
Your web site is no different. The keys to successful Internet marketing are the THREE C’s:
* Create - create traffic
* Capture - capture prospects, thus creating contacts
* Cultivate - cultivate contacts into leads, then into clients
Create - the first step in generating leads through your web site is to CREATE traffic. Creating traffic for your web site is done using three primary approaches:
* Search Engine Site Rankings - the search engines (Google, Yahoo, MSN etc.) rank your web site based on a number of factors including age, popularity, content, link-ins, etc., and list your site accordingly in the directory. This can be a long process, as a couple of major contributing factors are age and traffic. Thus, if you have a new site or a rarely used site, your ranking remains low, and because your ranking remains low, your traffic remains low. Because your traffic remains low, your ranking remains low, and so on. You can see the cycle.
* Keywords Pay-Per-Clicks - you, the web site owner, bid on keywords with the search engines, and the search engines list your site in the Sponsored Links section of the directory. This can be an efficient way to drive traffic to your site, but it does come with a cost.
* Owner Driven Traffic - you, the web site owner, drive traffic to your web site via electronic articles, emails, signs, print media etc. This can be very costly, as it is difficult to generate enough traffic to capture leads.
So how do you Create enough traffic to generate quality prospects? Well it's not as difficult as it seems. First create a quality keyword driven web site, and then use all three methods until your site is ranked high enough to maintain an adequate stream of prospects through the search engine directories.
Capture - the second step in generating leads through your web site is to CAPTURE the traffic. Capturing traffic for your web site is done using tools such as guest books or registration forms with bait. Capture the user's information; do not give away free information.
* Example: a user is searching the Internet for the MESA MLS. Now, the user has found our site, so do not give the information away for free. Searching the MLS is our bait, and a registration form is our capture tool. More often than not, an agent will allow the user to use the MLS without registering, and the rationalization is that users do not want to provide the info or the info is faulty. No problem, this is the first filter. We are trying to find out who is serious and who isn't. Utilize the registration form as a filter. If you don't, they won't be back... what do you have to lose?
Cultivate - the final step in generating prospects through your web site is to Cultivate the leads. Cultivate leads with DRIP CAMPAIGNS. A Drip Campaign is a series of content driven messages sent over time. Preferably this system is automated:
* In our example: the keyword was Mesa MLS, and a user found our site and signed up on our registration form. Now what? Implement “The Drip Campaign” - an automated series of messages delivering content that differentiates you the agent. Cultivate the prospect and convert them into a lead, then into a sale.
A great drip campaign is the MLS search provided by ARMLS. On your registration form, request information relating to their home search, then set up an automated search on the MLS that sends them listings.
Be careful, don’t send the user into information overload, and only send a couple of listings at a time.
Many real estate agents have decided to concentrate their efforts on cultivation. Therefore, a quality lead generating company may be an effective way of advertising.
Reg Gustin is owner operator of the website http://www.pro-online-agent.com and http://www.proonlineagent.com
Go to Pro Online Agent to find out if internet real estate leads can enhance your business http://www.pro-online-agent.com
Article Source: http://EzineArticles.com/?expert=Reg_Gustin
Friday, September 28, 2007
Historical or Retro-Active Real Estate Appraisal Valuation
By Clifford Diamond
If you need to know the value of a piece of real estate anywhere from a month ago to a decade ago, it can be done. I’ll show you how it can be done. How it can benefit you or your clients. How an appraiser arrives at value even long after you have sold and moved away. As an experienced appraiser in Southern California with over 20 years experience I would like to share my real estate experience with you.
What is a historical appraisal? Really all appraisals are just a snap-shot of time. Most appraisals are for current market value. So the very day the appraiser comes out and inspects the property the value is valid on that date only and could become no longer valid the very next day. There could be an economic or natural disaster that could change the value overnight. With a historical appraisal the effective date is what the property was worth on that required date, anywhere from last month to 10 or more years ago.
What is the purpose of a historical appraisal? Many and varied reasons. Many accountants and financial planners need to determine the value of property held in estate when the owner dies. This is known as a “Date of Death” appraisal. The IRS will want a professional appraisal in the file to document the value as of that date. Attorneys use the historical appraisal to determine what assets belong to which party. For example let’s say a single person bought a home in 1985 but met and married current spouse in 1995 and separated in 2005. It would be important to know the fair market value on those dates for fair and equitable dissolution. The same would be true of business partners in a property or even family members that pooled financial resources but need to move on.
Are there limitations to what can be done? You would think if you had sold the property years ago and moved away that it could not be done. That’s not true. I recently appraised a property 10 years back, that at the time it was only 1/2 the size, was before the swimming pool, and the owner sold and moved out long ago. In this case an exterior “drive-by” appraisal was called for and the house was valued based on the previous size, minus the pool and without bothering the new owner. In this case both opposing appraisals came in very close to each other and settlement was that much easier.
A historical appraisal sometimes involves similar principles of New Construction Appraisals where only specifications on paper exist and the appraiser determines the value as if completed to your plans and specs. This is sometimes referred to as a Feasibility Study and used to determine if what you plan on building is worth what you expect it to be worth and what adjustments in the build will increase or decrease value.
In these more complicated retro-active or historical appraisals it is important to find an appraiser with years of experience in that market area. An appraiser with sufficient experience may have insight in this area before, during and after changes that have occurred over the last 20 years in that target market. Additionally there are certain appraisal formats that are acceptable for use and others that are in direct OREA violation.
Lastly in historic appraisals, the use of comparable data must all fall before the effective date of the appraisal. If your effective date is 1-17-94 all sales comparables must fall before that date, none after. If for example you needed to know the value of a property sometime around the Northridge earthquake, using sale comps before or after would have tremendous impact on that value.
If the appraisal is for court work we may be called on the witness stand to testify to our report and defend it against the opposing attorney and his witness. There are additional fees for this type of testimony. As a professional appraiser it’s my responsibility to be the best possible resource for my client.
If I can be of help to you I can be reached at activerain.com/cdiamond .
Appraiser/Author
Clifford Diamond, CREA
http://www.activerain.com/cdiamond
Article Source: http://EzineArticles.com/?expert=Clifford_Diamond
If you need to know the value of a piece of real estate anywhere from a month ago to a decade ago, it can be done. I’ll show you how it can be done. How it can benefit you or your clients. How an appraiser arrives at value even long after you have sold and moved away. As an experienced appraiser in Southern California with over 20 years experience I would like to share my real estate experience with you.
What is a historical appraisal? Really all appraisals are just a snap-shot of time. Most appraisals are for current market value. So the very day the appraiser comes out and inspects the property the value is valid on that date only and could become no longer valid the very next day. There could be an economic or natural disaster that could change the value overnight. With a historical appraisal the effective date is what the property was worth on that required date, anywhere from last month to 10 or more years ago.
What is the purpose of a historical appraisal? Many and varied reasons. Many accountants and financial planners need to determine the value of property held in estate when the owner dies. This is known as a “Date of Death” appraisal. The IRS will want a professional appraisal in the file to document the value as of that date. Attorneys use the historical appraisal to determine what assets belong to which party. For example let’s say a single person bought a home in 1985 but met and married current spouse in 1995 and separated in 2005. It would be important to know the fair market value on those dates for fair and equitable dissolution. The same would be true of business partners in a property or even family members that pooled financial resources but need to move on.
Are there limitations to what can be done? You would think if you had sold the property years ago and moved away that it could not be done. That’s not true. I recently appraised a property 10 years back, that at the time it was only 1/2 the size, was before the swimming pool, and the owner sold and moved out long ago. In this case an exterior “drive-by” appraisal was called for and the house was valued based on the previous size, minus the pool and without bothering the new owner. In this case both opposing appraisals came in very close to each other and settlement was that much easier.
A historical appraisal sometimes involves similar principles of New Construction Appraisals where only specifications on paper exist and the appraiser determines the value as if completed to your plans and specs. This is sometimes referred to as a Feasibility Study and used to determine if what you plan on building is worth what you expect it to be worth and what adjustments in the build will increase or decrease value.
In these more complicated retro-active or historical appraisals it is important to find an appraiser with years of experience in that market area. An appraiser with sufficient experience may have insight in this area before, during and after changes that have occurred over the last 20 years in that target market. Additionally there are certain appraisal formats that are acceptable for use and others that are in direct OREA violation.
Lastly in historic appraisals, the use of comparable data must all fall before the effective date of the appraisal. If your effective date is 1-17-94 all sales comparables must fall before that date, none after. If for example you needed to know the value of a property sometime around the Northridge earthquake, using sale comps before or after would have tremendous impact on that value.
If the appraisal is for court work we may be called on the witness stand to testify to our report and defend it against the opposing attorney and his witness. There are additional fees for this type of testimony. As a professional appraiser it’s my responsibility to be the best possible resource for my client.
If I can be of help to you I can be reached at activerain.com/cdiamond .
Appraiser/Author
Clifford Diamond, CREA
http://www.activerain.com/cdiamond
Article Source: http://EzineArticles.com/?expert=Clifford_Diamond
How to Succeed With Online Real Estate Video
By Nick Viale
While almost everyone uses online video, many marketing professionals have left this resource untapped in favor of more traditional, time consuming methods. For tech-savvy Realtors it can be a huge opportunity to advertise home listings and services prominently where other marketers have been unsuccessful. With so little competition for a huge viewing audience, Realtors who do produce videos can quickly generate attention, and rank highly in search engines for keywords in their market.
Online real estate video can generally be separated into two categories: podcast content, and promotional content. These categories typically attract different audiences, and can play off one another to produce a well-rounded video marketing campaign.
Podcast content should cover subjects that can regularly updated for viewers who want to stay current on their market. Such material might include new home listings, market trend reports, neighborhood reports, and mobile phone-ready home tours. Podcast videos are usually more dialogue-oriented and longer than promotional videos.
Promotional content is the more common form of real estate video production, and typically includes company descriptions, website introductions, and traditional home tours. These videos are generally shorter in running time, but more visual and eye catching than podcasts.
Quality control can go a long way in both podcast and promotional content. As real estate video has evolved, successful producers have learned to avoid things like static shots that simply pan from side to side or zoom in (a photo is more practical for this because it provides higher resolution and allows the view to focus on the area of interest), cheesy background music, and vague, overly emotional language. Realtors need to keep in mind that people watch videos for entertainment as well as information, and produce accordingly.
Video's popularity has not gone unnoticed by software developers and search engines. Google's high-priced acquisition of YouTube was a clear indication of this, and a green light for the future of online video, prompting huge demand for video-related tools, services and hosting sites. Some of the more interesting developments in this area include video search engines that can parse dialogue and imagery, real estate video production companies and tools, and marketplaces which bring real estate agents and video producers together. Video mashups with other tools have also opened up new avenues for real estate buyers and sellers - one popular example is an application that combines home video tours and online mapping, allowing home tours to be searched on the map - but again, competition among Realtors is low here.
Coming up with an effective real estate video campaign may be a little harder than simply creating another webpage, but it's worth every effort.
Nicholas Viale is an experienced Costa Rica real estate professional. Visit his website for extensive area information, a guide to finding homes, seller's tips, and investment advice for buyers entering the Costa Rica real estate market.
Article Source: http://EzineArticles.com/?expert=Nick_Viale
While almost everyone uses online video, many marketing professionals have left this resource untapped in favor of more traditional, time consuming methods. For tech-savvy Realtors it can be a huge opportunity to advertise home listings and services prominently where other marketers have been unsuccessful. With so little competition for a huge viewing audience, Realtors who do produce videos can quickly generate attention, and rank highly in search engines for keywords in their market.
Online real estate video can generally be separated into two categories: podcast content, and promotional content. These categories typically attract different audiences, and can play off one another to produce a well-rounded video marketing campaign.
Podcast content should cover subjects that can regularly updated for viewers who want to stay current on their market. Such material might include new home listings, market trend reports, neighborhood reports, and mobile phone-ready home tours. Podcast videos are usually more dialogue-oriented and longer than promotional videos.
Promotional content is the more common form of real estate video production, and typically includes company descriptions, website introductions, and traditional home tours. These videos are generally shorter in running time, but more visual and eye catching than podcasts.
Quality control can go a long way in both podcast and promotional content. As real estate video has evolved, successful producers have learned to avoid things like static shots that simply pan from side to side or zoom in (a photo is more practical for this because it provides higher resolution and allows the view to focus on the area of interest), cheesy background music, and vague, overly emotional language. Realtors need to keep in mind that people watch videos for entertainment as well as information, and produce accordingly.
Video's popularity has not gone unnoticed by software developers and search engines. Google's high-priced acquisition of YouTube was a clear indication of this, and a green light for the future of online video, prompting huge demand for video-related tools, services and hosting sites. Some of the more interesting developments in this area include video search engines that can parse dialogue and imagery, real estate video production companies and tools, and marketplaces which bring real estate agents and video producers together. Video mashups with other tools have also opened up new avenues for real estate buyers and sellers - one popular example is an application that combines home video tours and online mapping, allowing home tours to be searched on the map - but again, competition among Realtors is low here.
Coming up with an effective real estate video campaign may be a little harder than simply creating another webpage, but it's worth every effort.
Nicholas Viale is an experienced Costa Rica real estate professional. Visit his website for extensive area information, a guide to finding homes, seller's tips, and investment advice for buyers entering the Costa Rica real estate market.
Article Source: http://EzineArticles.com/?expert=Nick_Viale
Buying & Selling on Real Estate Virtually
By Madhurima Sil
The world is moving fast and technology has shrunk hours of works into minutes. We can withdraw cash, wash clothes, send messages and even cook food, all at the press of a button.
Internet has a major role in pacing up our lives almost on every front. The emerging virtual world of the real estate is a good example of it. People prefer to search for a product online before they actually buy it and it applies to property search as well. Online property search is catching up fast, be it a residential or a commercial plot, building, flat or office space. A customer can view all the options available on the internet and shortlist those which are relevant to his needs.
So for people, who want to sell or rent property, it’s an advantage to be on the internet because-
• It’s a cost effective medium as compared to other advertising mediums like the newspaper or the TV.
• Gives you more space to describe your property than a print media classified ad where you are being charged for each column centimeter.
• You ad has a longer life on the net and can be viewed for months unlike a newspaper ad, which fails to survive beyond one day.
• Buyers from any part of the country can view your ad thus increasing the reach of your ad exponentially.
Tips on Selling-
• Decide a selling price for your home that would give you some profit but don’t overprice it at the same time. Too much of overpricing will drive away prospective buyers and your property might remain unsold in the market for a long time, eventually losing it’s appeal and people may not want to buy it later on.
• Make the entrance of your house tidy and attractive as it will create a good impression on the buyer’s mind when he comes to visit your house.
• Involving a property dealer is a good thing to do as they have hands on experience in getting these deals done and they are aware of all the legal formalities involved.
• If you have time on your hands, put your home for sale at least 3-6 months before you want to move. This won’t let you settle down for a hurried deal and won’t let a buyer take undue advantage of your haste.
Tips on Buying-
• Before you begin searching for a house, you not only need to keep in mind your current needs but also consider your future prospects. How long do you plan to stay in that house? Will a need for more space generate in the future? And so on.
• Do a check for leakages, dampness of walls, drainage system, water and electricity supply, water logging etc. of the house you are planning to buy.
• Create a list of good and bad points along with the prices of all the houses you have visited and rate them accordingly before finalizing one home you will buy.
• It’s good to involve a real estate professional when getting into property deals because they are aware of the risks involved and know how to handle property deals. But choose your home yourself as you’ll be living in it, so even if it takes a little long to find the ideal home, let your word be the last word.
For more information or to buy, sell or rent property in India, please log to http://www.99acres.com
Madhurima Sil, Asst. Mgr. Marketing, Info Edge India,
http://www.99acres.com
99acres.com is the no.1, real estate portal in India. It was launched by Info Edge, in September 2005, as a gateway to the country’s property bazaar, and an information ‘exchange’ for buying, leasing and selling of all types of residential and commercial properties anywhere in the country. The website enables easy access to a huge property bank for netizens and allows for direct connect with realtors in over 200 cities in urban and remote parts of India. With properties of almost 1500 builders, 20,000 brokers and 40,000 individuals, the portal lists over 200000 properties. The site has a registered database of over 150000 users.
Article Source: http://EzineArticles.com/?expert=Madhurima_Sil
The world is moving fast and technology has shrunk hours of works into minutes. We can withdraw cash, wash clothes, send messages and even cook food, all at the press of a button.
Internet has a major role in pacing up our lives almost on every front. The emerging virtual world of the real estate is a good example of it. People prefer to search for a product online before they actually buy it and it applies to property search as well. Online property search is catching up fast, be it a residential or a commercial plot, building, flat or office space. A customer can view all the options available on the internet and shortlist those which are relevant to his needs.
So for people, who want to sell or rent property, it’s an advantage to be on the internet because-
• It’s a cost effective medium as compared to other advertising mediums like the newspaper or the TV.
• Gives you more space to describe your property than a print media classified ad where you are being charged for each column centimeter.
• You ad has a longer life on the net and can be viewed for months unlike a newspaper ad, which fails to survive beyond one day.
• Buyers from any part of the country can view your ad thus increasing the reach of your ad exponentially.
Tips on Selling-
• Decide a selling price for your home that would give you some profit but don’t overprice it at the same time. Too much of overpricing will drive away prospective buyers and your property might remain unsold in the market for a long time, eventually losing it’s appeal and people may not want to buy it later on.
• Make the entrance of your house tidy and attractive as it will create a good impression on the buyer’s mind when he comes to visit your house.
• Involving a property dealer is a good thing to do as they have hands on experience in getting these deals done and they are aware of all the legal formalities involved.
• If you have time on your hands, put your home for sale at least 3-6 months before you want to move. This won’t let you settle down for a hurried deal and won’t let a buyer take undue advantage of your haste.
Tips on Buying-
• Before you begin searching for a house, you not only need to keep in mind your current needs but also consider your future prospects. How long do you plan to stay in that house? Will a need for more space generate in the future? And so on.
• Do a check for leakages, dampness of walls, drainage system, water and electricity supply, water logging etc. of the house you are planning to buy.
• Create a list of good and bad points along with the prices of all the houses you have visited and rate them accordingly before finalizing one home you will buy.
• It’s good to involve a real estate professional when getting into property deals because they are aware of the risks involved and know how to handle property deals. But choose your home yourself as you’ll be living in it, so even if it takes a little long to find the ideal home, let your word be the last word.
For more information or to buy, sell or rent property in India, please log to http://www.99acres.com
Madhurima Sil, Asst. Mgr. Marketing, Info Edge India,
http://www.99acres.com
99acres.com is the no.1, real estate portal in India. It was launched by Info Edge, in September 2005, as a gateway to the country’s property bazaar, and an information ‘exchange’ for buying, leasing and selling of all types of residential and commercial properties anywhere in the country. The website enables easy access to a huge property bank for netizens and allows for direct connect with realtors in over 200 cities in urban and remote parts of India. With properties of almost 1500 builders, 20,000 brokers and 40,000 individuals, the portal lists over 200000 properties. The site has a registered database of over 150000 users.
Article Source: http://EzineArticles.com/?expert=Madhurima_Sil
Builders Suffer Due to Mortgage Crisis
By Martin Lukac Platinum Quality Author
During last month the existing home sales fell down again and it is reported that a large number of homebuilders are facing the worst ever quarterly earning. These homebuilders believe that the main reason behind this mess in the stressed housing sector is the continuous sub prime mortgage crisis.
The National Association of Realtors mentioned that during the month of August it was noted that the purchases of the previously owned homes fell down by 4.3 percent from what is was in the month of July, i.e. sending sales slipping to five years low. In the month of July, the annual sales rate was 5.75 million that dropped down to 5.50 million. Statistic says that the existing home sales have fallen almost 13 percent over the period of last 12 months.
On the other hand, the Lennar Corporation declared their biggest quarterly loss in its history after it wrote down $848 million in the value of real estate. The company's net loss was $513.9 million, or we can say $3.25 per share, compared to the profit of $206.7 million, or $1.30 per share, during the same time of the previous year. The shares of Lennar Corporation were down by 4 percent in midday trading, at $23.20.
The shocking news in the housing sector was joined with a disappointing report on customer confidence from the Conference Board, whose index dropped down to 99.8 during September from 105.6 in the month of August. This fall was much more than what was forecasted. Its index is now at its lowest level in the past two years. A group of analyst believes that the reason behind the concern among the consumers is the weak job market and stagnant salary that has probably created declines in the consumer spending and job creation during the period of coming months.
Joshua Shapiro, the chief United States economist of a New York research firm believes that fall in the housing sector is just because of the negative environment over the residential real estate, affects and creates the changes in the consumer's attitude and consumer's spending ability.
Lennar has reported a drop of 44 percent in its revenue during the last quarter and has reduced 35 percent of its work force. It turned out to be another sufferer of the high inventory levels and credit market disorder that have created many troubles for the home builders in the period of last few months. The company's chief executive, Stuart Miller, said in a statement today that due to the continuous decline of our net margin and for that reason, higher injuries to our inventory. He also added that the staff reductions were in store for the fourth quarter.
On the other hand the Darlene Williams, assistant secretary of US Housing and Urban Development hopes that even though the current crisis in the credit market the sub prime mortgages must stay as they play a very important role in increasing home ownership in United States. She hoped that the US congress would pass Federal Housing Administration, reforms to expand federal backing of mortgages.
Martin Lukac represents RateEmpire Refinance Loan and Home Equity Loan financial marketplace which connects consumers with multiple mortgage companies that compete for their business. For more information please visit Builders Suffer due to Mortgage Crisis
Article Source: http://EzineArticles.com/?expert=Martin_Lukac
During last month the existing home sales fell down again and it is reported that a large number of homebuilders are facing the worst ever quarterly earning. These homebuilders believe that the main reason behind this mess in the stressed housing sector is the continuous sub prime mortgage crisis.
The National Association of Realtors mentioned that during the month of August it was noted that the purchases of the previously owned homes fell down by 4.3 percent from what is was in the month of July, i.e. sending sales slipping to five years low. In the month of July, the annual sales rate was 5.75 million that dropped down to 5.50 million. Statistic says that the existing home sales have fallen almost 13 percent over the period of last 12 months.
On the other hand, the Lennar Corporation declared their biggest quarterly loss in its history after it wrote down $848 million in the value of real estate. The company's net loss was $513.9 million, or we can say $3.25 per share, compared to the profit of $206.7 million, or $1.30 per share, during the same time of the previous year. The shares of Lennar Corporation were down by 4 percent in midday trading, at $23.20.
The shocking news in the housing sector was joined with a disappointing report on customer confidence from the Conference Board, whose index dropped down to 99.8 during September from 105.6 in the month of August. This fall was much more than what was forecasted. Its index is now at its lowest level in the past two years. A group of analyst believes that the reason behind the concern among the consumers is the weak job market and stagnant salary that has probably created declines in the consumer spending and job creation during the period of coming months.
Joshua Shapiro, the chief United States economist of a New York research firm believes that fall in the housing sector is just because of the negative environment over the residential real estate, affects and creates the changes in the consumer's attitude and consumer's spending ability.
Lennar has reported a drop of 44 percent in its revenue during the last quarter and has reduced 35 percent of its work force. It turned out to be another sufferer of the high inventory levels and credit market disorder that have created many troubles for the home builders in the period of last few months. The company's chief executive, Stuart Miller, said in a statement today that due to the continuous decline of our net margin and for that reason, higher injuries to our inventory. He also added that the staff reductions were in store for the fourth quarter.
On the other hand the Darlene Williams, assistant secretary of US Housing and Urban Development hopes that even though the current crisis in the credit market the sub prime mortgages must stay as they play a very important role in increasing home ownership in United States. She hoped that the US congress would pass Federal Housing Administration, reforms to expand federal backing of mortgages.
Martin Lukac represents RateEmpire Refinance Loan and Home Equity Loan financial marketplace which connects consumers with multiple mortgage companies that compete for their business. For more information please visit Builders Suffer due to Mortgage Crisis
Article Source: http://EzineArticles.com/?expert=Martin_Lukac
Living Hollywood Style - Why Celebrities Love Miami Beach
By Vanessa A. Doctor Platinum Quality Author
The City of Miami Beach is considered as one of the most glamorous urban destinations in America and worldwide as well. The city has districts which abound with a vibrant array of famous resorts, restaurants, hotels and luxurious condominiums and waterfront homes and estates.
This is in large part due to the fact that Miami Beach has been voted several times as having one of the top 10 beaches in the world, and its designation as "America's Playground" has made it appealing for celebrities, investors, and tourists as well. Miami Beach exemplifies the sunny, active South Florida lifestyle.
Sun, sand, lovely people, partying, and a complete array of water sports. Located across sparkling Biscayne Bay from Miami, Miami Beach is an independent island city complete with local government, police and fire services, hospitals, shopping, parks, and marinas. Most of the housing stock on Miami Beach consists of expensive single family homes on the west side of the island and condominiums and apartments farther east.
South Beach District
The famous South Beach district is a section of Miami Beach that includes the southernmost 23 blocks of an island separating the Atlantic Ocean and Biscayne Bay. Today, it is a major entertainment destination with hundreds of nightclubs, restaurants and oceanfront hotels. The area is popular with both American and international tourists, with German being the third most spoken language after English and Spanish.
The large number of European tourists explains why topless sunbathing is tolerated here, despite being a public beach. Another unique artistic attribute of South Beach is the presence of several colorful and unique lifeguard stands, which are still used today by South Beach's lifeguards. It's usually common for tourists to spot celebrities on E! and Access Hollywood, casually sipping drinks and looking really chic at one South Beach club or another.
Ocean Drive is the easternmost street in South Beach. Ocean Drive is responsible for the South Beach aesthetic that most out-of-town visitors expect. This area is a popular Spring Break and tourist area, which includes the famous, yet predominantly local, Pearl and Nikki Beach night spots. It is also home to several prominent restaurants, among them "News Cafe," "Mango's," and the MTV-popularized "Clevelander", and is also the site of Gianni Versace's former ocean front mansion. Because of its value as a great spot for people watching, where beautiful women rollerblade in bikini's and such, it is heavily cruised and parking is hard to find.
World-Class Property Developments
As of 2005, South Beach, as well as Miami Beach, registered one of the highest property values nationwide. Although generally residential, the area is also home to several large scale development projects and large buildings such as Portofino Tower and sister buildings such as ICON (spearheaded by designer Philippe Starck), Continuum, and Murano at Portofino. This area has several notable nightlife destinations, including Opium Garden, Privé, Nikki Beach Club, and Pearl. It also has several smaller, upscale bars and restaurants, including the world-renowned Joe's Stone Crabs, Smith & Wollensky's steak house, and China Grill.
Luxury Living Realty - http://luxurylivingrealty.net
Vanessa A. Doctor from Jump2Top - SEO Company
Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
The City of Miami Beach is considered as one of the most glamorous urban destinations in America and worldwide as well. The city has districts which abound with a vibrant array of famous resorts, restaurants, hotels and luxurious condominiums and waterfront homes and estates.
This is in large part due to the fact that Miami Beach has been voted several times as having one of the top 10 beaches in the world, and its designation as "America's Playground" has made it appealing for celebrities, investors, and tourists as well. Miami Beach exemplifies the sunny, active South Florida lifestyle.
Sun, sand, lovely people, partying, and a complete array of water sports. Located across sparkling Biscayne Bay from Miami, Miami Beach is an independent island city complete with local government, police and fire services, hospitals, shopping, parks, and marinas. Most of the housing stock on Miami Beach consists of expensive single family homes on the west side of the island and condominiums and apartments farther east.
South Beach District
The famous South Beach district is a section of Miami Beach that includes the southernmost 23 blocks of an island separating the Atlantic Ocean and Biscayne Bay. Today, it is a major entertainment destination with hundreds of nightclubs, restaurants and oceanfront hotels. The area is popular with both American and international tourists, with German being the third most spoken language after English and Spanish.
The large number of European tourists explains why topless sunbathing is tolerated here, despite being a public beach. Another unique artistic attribute of South Beach is the presence of several colorful and unique lifeguard stands, which are still used today by South Beach's lifeguards. It's usually common for tourists to spot celebrities on E! and Access Hollywood, casually sipping drinks and looking really chic at one South Beach club or another.
Ocean Drive is the easternmost street in South Beach. Ocean Drive is responsible for the South Beach aesthetic that most out-of-town visitors expect. This area is a popular Spring Break and tourist area, which includes the famous, yet predominantly local, Pearl and Nikki Beach night spots. It is also home to several prominent restaurants, among them "News Cafe," "Mango's," and the MTV-popularized "Clevelander", and is also the site of Gianni Versace's former ocean front mansion. Because of its value as a great spot for people watching, where beautiful women rollerblade in bikini's and such, it is heavily cruised and parking is hard to find.
World-Class Property Developments
As of 2005, South Beach, as well as Miami Beach, registered one of the highest property values nationwide. Although generally residential, the area is also home to several large scale development projects and large buildings such as Portofino Tower and sister buildings such as ICON (spearheaded by designer Philippe Starck), Continuum, and Murano at Portofino. This area has several notable nightlife destinations, including Opium Garden, Privé, Nikki Beach Club, and Pearl. It also has several smaller, upscale bars and restaurants, including the world-renowned Joe's Stone Crabs, Smith & Wollensky's steak house, and China Grill.
Luxury Living Realty - http://luxurylivingrealty.net
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Article Source: http://EzineArticles.com/?expert=Vanessa_A._Doctor
Making Sense of Real Estate Lingo
By Jennifer Burroughs
As with all industries, real estate professionals have developed a lingo and acronyms to help them communicate with each other more easily. For the first-time home buyer (and even some veterans), making sense of property listings can sometimes leave you feeling like you’re deciphering the DaVinci Code. Let’s take a look at a sample real estate listing: 2,500 sf on a c-d-s, 2BR, 2.5BA, CA, spac grt rm w/ wbfp, grmet kit, det gar Looks a lot like alphabet soup. However, using this type of abbreviated property description saves valuable advertising space. Some abbreviations you’ll probably encounter are:
• AC or A/C: air conditioning
• BA: bathroom
• BR: bedroom
• CA: central air
• C-D-S: cul de sac
• DET: detached
• DK: deck
• EIK: eat-in kitchen
• F/FIN BSMT: finished basement
• FDR: formal dining room
• FP, frplc: fireplace
• GAR: garage
• GRMT KIT: gourmet kitchen
• GRT RM: great room
• HDW, HWF, Hdwd: hardwood floors
• HOA: home owners association
• LR: living room
• KIT: kitchen
• OFC: office
• PVT: private
• SF: square feet
• SPAC: spacious
• VW, VU: view
• WBFP: wood-burning fireplace
In addition to the abbreviations in property listings, here are a few other common terms you should become familiar with.
FSBO—For Sale By Owner. This term refers to a property which the homeowner is trying to sell independent of a real estate professional.
MLS—Multiple Listing Service. MLSs are comprised of a group of real estate brokers who have agreed to share their property listings. This listing is then provided to the group through a database or directory. If you are buying your home, this is the service that your sales professional will use to search for potential homes for you to purchase. If you are selling your property, your real estate professional can list your home through the MLS. For-Sale-By-Owner (FSBO) properties are typically not listed through the MLS.
CMA—Comparative Marketing Analysis. This analysis is an informal assessment of a property’s market value. This is one of the tools your real estate professional can use to help you determine a reasonable listing price. Usually, the CMA compares your property with similar properties that have sold in your area within a certain time frame. Besides purchase price, some of the information typically listed is the number of bedrooms and baths, approximate square footage, size of major rooms, amenities such as fireplaces and pools, age of the home, and property taxes.
During the real estate process, you’ll more than likely come across more acronyms and lingo. Make sure you ask your real estate professional to explain any terms you are unfamiliar with so that you are not in for any surprises.
By the way, the listing above was a 2,500 square-feet home on a cul-de-sac, with two bedrooms and two and a half baths, central air, a spacious great room with a wood-burning fireplace, and a gourmet kitchen and detached garage.
If you are considering a move and want to speak with an agent who is experienced in the process you can reach Jennifer Teti-Burroughs, at (858) 618-5677, located in San Diego, California.Email: Jennifer@JenniferTeti.com http://www.SanDiegoOnTheMove.com Prudential (Prudential California Realty) is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Jennifer is a successful Realtor in the San Diego market. She has lived and worked in the San Diego area for over 30 years. She specializes in the area of relocation and has many resources available to assist families and individual who are relocating.
Article Source: http://EzineArticles.com/?expert=Jennifer_Burroughs
As with all industries, real estate professionals have developed a lingo and acronyms to help them communicate with each other more easily. For the first-time home buyer (and even some veterans), making sense of property listings can sometimes leave you feeling like you’re deciphering the DaVinci Code. Let’s take a look at a sample real estate listing: 2,500 sf on a c-d-s, 2BR, 2.5BA, CA, spac grt rm w/ wbfp, grmet kit, det gar Looks a lot like alphabet soup. However, using this type of abbreviated property description saves valuable advertising space. Some abbreviations you’ll probably encounter are:
• AC or A/C: air conditioning
• BA: bathroom
• BR: bedroom
• CA: central air
• C-D-S: cul de sac
• DET: detached
• DK: deck
• EIK: eat-in kitchen
• F/FIN BSMT: finished basement
• FDR: formal dining room
• FP, frplc: fireplace
• GAR: garage
• GRMT KIT: gourmet kitchen
• GRT RM: great room
• HDW, HWF, Hdwd: hardwood floors
• HOA: home owners association
• LR: living room
• KIT: kitchen
• OFC: office
• PVT: private
• SF: square feet
• SPAC: spacious
• VW, VU: view
• WBFP: wood-burning fireplace
In addition to the abbreviations in property listings, here are a few other common terms you should become familiar with.
FSBO—For Sale By Owner. This term refers to a property which the homeowner is trying to sell independent of a real estate professional.
MLS—Multiple Listing Service. MLSs are comprised of a group of real estate brokers who have agreed to share their property listings. This listing is then provided to the group through a database or directory. If you are buying your home, this is the service that your sales professional will use to search for potential homes for you to purchase. If you are selling your property, your real estate professional can list your home through the MLS. For-Sale-By-Owner (FSBO) properties are typically not listed through the MLS.
CMA—Comparative Marketing Analysis. This analysis is an informal assessment of a property’s market value. This is one of the tools your real estate professional can use to help you determine a reasonable listing price. Usually, the CMA compares your property with similar properties that have sold in your area within a certain time frame. Besides purchase price, some of the information typically listed is the number of bedrooms and baths, approximate square footage, size of major rooms, amenities such as fireplaces and pools, age of the home, and property taxes.
During the real estate process, you’ll more than likely come across more acronyms and lingo. Make sure you ask your real estate professional to explain any terms you are unfamiliar with so that you are not in for any surprises.
By the way, the listing above was a 2,500 square-feet home on a cul-de-sac, with two bedrooms and two and a half baths, central air, a spacious great room with a wood-burning fireplace, and a gourmet kitchen and detached garage.
If you are considering a move and want to speak with an agent who is experienced in the process you can reach Jennifer Teti-Burroughs, at (858) 618-5677, located in San Diego, California.Email: Jennifer@JenniferTeti.com http://www.SanDiegoOnTheMove.com Prudential (Prudential California Realty) is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Jennifer is a successful Realtor in the San Diego market. She has lived and worked in the San Diego area for over 30 years. She specializes in the area of relocation and has many resources available to assist families and individual who are relocating.
Article Source: http://EzineArticles.com/?expert=Jennifer_Burroughs
Real Estate Titles After A Divorce
By Jonathan Dever
I am often approached by individuals about clearing title to their home after they have gone through a divorce. The most frequent question that arises: how to force the other party to transfer title to the real estate.
In a divorce, especially one that is contested, one party is awarded title to the family home. The loosing party is required to transfer their dower interest in the property to the winning spouse by court order. Sometimes, the parties agree, but the bottom line is that the transfer has yet to occur.
In many cases, the "loosing" spouse, either enraged by the loss, or out of anger, refuses to transfer title. So how do you get the other party to sign the deed after the case is over?
Unfortunately, there is no easy answer once the case has terminated, especially if the lawyer did not plan for this problem.
The solution during the process, however, is quite simple. Put the grantor grantee language in the divorce decree/entry. If the other party refuses to sign the quit claim deed after the divorce is finalized for whatever reason, you can always file the decree in the place of a deed!
Because the entry has the grantor/grantee language in the document, the registrar/recorder's office will accept the document as though it were the quit claim deed. Problem solved.
If the divorce has been finalized without this provision, your only answer may be a trip back to court. This time, however, you are in the driver's seat. Ask your lawyer to file a contempt motion and demand attorney's fees. If the non-performing spouse if found to be in contempt of the court order, not only do they have to comply, pay your attorney's fees, but the Judge can put them in jail until they comply with the order.
Jonathan Dever is an attorney whose practice focus is real estate, finance, debt mitigation, business counsel, asset protection and estate planning. He is a frequent lecturer and has been named a Super Lawyer by Law and Politics for the last three years. He also publishes web sites and advises small businesses on best practices, strategic management, IT and Human Resource integration.
Jonathan Dever, Esq. http://www.realestatelegalwizard.com
Article Source: http://EzineArticles.com/?expert=Jonathan_Dever
I am often approached by individuals about clearing title to their home after they have gone through a divorce. The most frequent question that arises: how to force the other party to transfer title to the real estate.
In a divorce, especially one that is contested, one party is awarded title to the family home. The loosing party is required to transfer their dower interest in the property to the winning spouse by court order. Sometimes, the parties agree, but the bottom line is that the transfer has yet to occur.
In many cases, the "loosing" spouse, either enraged by the loss, or out of anger, refuses to transfer title. So how do you get the other party to sign the deed after the case is over?
Unfortunately, there is no easy answer once the case has terminated, especially if the lawyer did not plan for this problem.
The solution during the process, however, is quite simple. Put the grantor grantee language in the divorce decree/entry. If the other party refuses to sign the quit claim deed after the divorce is finalized for whatever reason, you can always file the decree in the place of a deed!
Because the entry has the grantor/grantee language in the document, the registrar/recorder's office will accept the document as though it were the quit claim deed. Problem solved.
If the divorce has been finalized without this provision, your only answer may be a trip back to court. This time, however, you are in the driver's seat. Ask your lawyer to file a contempt motion and demand attorney's fees. If the non-performing spouse if found to be in contempt of the court order, not only do they have to comply, pay your attorney's fees, but the Judge can put them in jail until they comply with the order.
Jonathan Dever is an attorney whose practice focus is real estate, finance, debt mitigation, business counsel, asset protection and estate planning. He is a frequent lecturer and has been named a Super Lawyer by Law and Politics for the last three years. He also publishes web sites and advises small businesses on best practices, strategic management, IT and Human Resource integration.
Jonathan Dever, Esq. http://www.realestatelegalwizard.com
Article Source: http://EzineArticles.com/?expert=Jonathan_Dever
The Typical Person Who Owns a Condo Hotel
By Todd Peterson
The Typical owner of a condo hotel can be segmented into one of two major groups: investor and lifestyle enthusiast.
Lifestyle buyers tend to purchase condo hotels at their favorite resort destination. They love the idea of owning a fabulous property at their favorite destination, but they don’t want the burden of a second home sitting empty and draining them financially. They also are attracted to the idea of their vacation home being fully managed by someone else and being cleaned and in order upon their arrival. Additionally, because condo hotel ownership generally comes with major amenities and service benefits, the purchase makes even more sense. These types of buyers are called “resort enthusiasts” and tend to visit their property 5-6 times a year.
Investors, on the other hand, will buy regardless of whether the purchase fits their lifestyle. If the property makes financial sense, that is all they need to justify the purchase. For the pure investor, appreciation and cash flow are of paramount importance, with appreciation being the greater determining factor. In addition, the opportunity to own a hassle free investment that is fully looked after by a professional management company is another highly valued attribute.
Many savvy real estate investors have achieved fantastic appreciation gains over the years from condo hotels and continue to buy whenever a premium property comes to market. Some repeat buyers own upwards of 10 – 20 condo hotel units and look to add more every year. They love the concept of purchasing at a lower price point during preconstruction and then selling at a higher price point once the property has been in operation for a few years. In particular, most investors are drawn towards the name brand condo hotels, such as Trump, W, Hard Rock, Ritz Carlton, Westin, and the Four Seasons.
Incidentally, even among the buyers who would consider themselves investors, most stay at their property several times a year and enjoy taking advantage of the many benefits that come with being an owner. However, it must be noted that this lifestyle component is secondary in their purchasing decision. Ultimately, the decision to purchase is based off of the condo hotel’s ability to appreciate and cash flow.
Demographically, the age of the typical condo hotel buyer is what you would probably expect. The average buyer is between the ages of 45 – 55, is married, has children still at home or in college, and has owned vacation property previously. The typical buyer tends to be more affluent and views the purchase of real estate as an intelligent way to increase wealth.
With that said, different condo hotel projects do cater to different sectors of that demographic and this will cause slight fluctuations in those statistics. Ritz Carlton’s, as you can imagine, have great appeal to older members of that age group and beyond. W Hotels and Hard Rocks, along with their hip atmosphere, appeal to the younger members of that demographic, as well as to persons who have attained wealth at an earlier stage in life.
Condo hotels also appeal to buyers from around the globe. Europeans, South Americans, and Asians are all buying condo hotels in North America. They are competing with Americans for the best properties in the U.S., Canada, and Mexico. In fact, Europeans and Asians have quickly emerged as one of the fastest growing segments of condo hotel owners in North America. Aiding this trend is the weakened dollar. The citizens of these regions have flexed their economic might in recent years and have shown exceptional interest in the condo hotel model. In fact, half the units of Trump Waikiki, the most successful real estate project in the world, were sold exclusively to Asian buyers.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
The Typical owner of a condo hotel can be segmented into one of two major groups: investor and lifestyle enthusiast.
Lifestyle buyers tend to purchase condo hotels at their favorite resort destination. They love the idea of owning a fabulous property at their favorite destination, but they don’t want the burden of a second home sitting empty and draining them financially. They also are attracted to the idea of their vacation home being fully managed by someone else and being cleaned and in order upon their arrival. Additionally, because condo hotel ownership generally comes with major amenities and service benefits, the purchase makes even more sense. These types of buyers are called “resort enthusiasts” and tend to visit their property 5-6 times a year.
Investors, on the other hand, will buy regardless of whether the purchase fits their lifestyle. If the property makes financial sense, that is all they need to justify the purchase. For the pure investor, appreciation and cash flow are of paramount importance, with appreciation being the greater determining factor. In addition, the opportunity to own a hassle free investment that is fully looked after by a professional management company is another highly valued attribute.
Many savvy real estate investors have achieved fantastic appreciation gains over the years from condo hotels and continue to buy whenever a premium property comes to market. Some repeat buyers own upwards of 10 – 20 condo hotel units and look to add more every year. They love the concept of purchasing at a lower price point during preconstruction and then selling at a higher price point once the property has been in operation for a few years. In particular, most investors are drawn towards the name brand condo hotels, such as Trump, W, Hard Rock, Ritz Carlton, Westin, and the Four Seasons.
Incidentally, even among the buyers who would consider themselves investors, most stay at their property several times a year and enjoy taking advantage of the many benefits that come with being an owner. However, it must be noted that this lifestyle component is secondary in their purchasing decision. Ultimately, the decision to purchase is based off of the condo hotel’s ability to appreciate and cash flow.
Demographically, the age of the typical condo hotel buyer is what you would probably expect. The average buyer is between the ages of 45 – 55, is married, has children still at home or in college, and has owned vacation property previously. The typical buyer tends to be more affluent and views the purchase of real estate as an intelligent way to increase wealth.
With that said, different condo hotel projects do cater to different sectors of that demographic and this will cause slight fluctuations in those statistics. Ritz Carlton’s, as you can imagine, have great appeal to older members of that age group and beyond. W Hotels and Hard Rocks, along with their hip atmosphere, appeal to the younger members of that demographic, as well as to persons who have attained wealth at an earlier stage in life.
Condo hotels also appeal to buyers from around the globe. Europeans, South Americans, and Asians are all buying condo hotels in North America. They are competing with Americans for the best properties in the U.S., Canada, and Mexico. In fact, Europeans and Asians have quickly emerged as one of the fastest growing segments of condo hotel owners in North America. Aiding this trend is the weakened dollar. The citizens of these regions have flexed their economic might in recent years and have shown exceptional interest in the condo hotel model. In fact, half the units of Trump Waikiki, the most successful real estate project in the world, were sold exclusively to Asian buyers.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Financial Benefits of Owning a Condo Hotel
By Todd Peterson
The rental revenue is shared with the professional hotel management company. You pay no upfront fees for this management. Instead, the management company takes a portion of the rental income that is generated. Although the revenue splits between owner and management company do vary from project to project, most hover around the 50/50 mark.
Condo hotels are strategically located in luxurious resort settings and premier urban destinations, which command top dollar for the nightly stays and are almost always marked by high year round occupancy rates. This combination of high nightly rental rates and high year round occupancy rates generally create a very desirable cash flow outcome.
In addition to the rental revenue that is generated, you can enjoy the appreciation that condo hotels typically experience, as well. Many condo hotels, especially the branded condo hotels, have seen double digit growth year after year, and have out performed traditional condos or single family homes in the same resort market. A common question is whether condo hotels can be resold like normal real estate. And the answer is yes. Condo hotels are fee simple deeded real estate. You buy and sell them just like you would any other form of real estate.
A common question revolves around financing and whether favorable rates can be attained. And the answer is yes. You’ll find that the biggest financial institutions in the world make loans on condo hotels and they are typically quite close to a loan that can be found for a traditional vacation home. Most condo hotel developers have even made arrangements with specific lenders so that they may offer their clients the most favorable rates.
And remember, there may be additional tax benefits of owning a condo hotel over a traditional condo. If the condo hotel is used for non-primary residence or residential rental, owners may be able to accelerating the depreciation on their condo hotel unit from 39 years, down to 27.5, 15, 7, and even 5 years. Be sure to consult with your accountant to see if the tax advantages can work for you. If your accountant is not intimately familiar with condo hotels, have him refer you to an associate who is.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
The rental revenue is shared with the professional hotel management company. You pay no upfront fees for this management. Instead, the management company takes a portion of the rental income that is generated. Although the revenue splits between owner and management company do vary from project to project, most hover around the 50/50 mark.
Condo hotels are strategically located in luxurious resort settings and premier urban destinations, which command top dollar for the nightly stays and are almost always marked by high year round occupancy rates. This combination of high nightly rental rates and high year round occupancy rates generally create a very desirable cash flow outcome.
In addition to the rental revenue that is generated, you can enjoy the appreciation that condo hotels typically experience, as well. Many condo hotels, especially the branded condo hotels, have seen double digit growth year after year, and have out performed traditional condos or single family homes in the same resort market. A common question is whether condo hotels can be resold like normal real estate. And the answer is yes. Condo hotels are fee simple deeded real estate. You buy and sell them just like you would any other form of real estate.
A common question revolves around financing and whether favorable rates can be attained. And the answer is yes. You’ll find that the biggest financial institutions in the world make loans on condo hotels and they are typically quite close to a loan that can be found for a traditional vacation home. Most condo hotel developers have even made arrangements with specific lenders so that they may offer their clients the most favorable rates.
And remember, there may be additional tax benefits of owning a condo hotel over a traditional condo. If the condo hotel is used for non-primary residence or residential rental, owners may be able to accelerating the depreciation on their condo hotel unit from 39 years, down to 27.5, 15, 7, and even 5 years. Be sure to consult with your accountant to see if the tax advantages can work for you. If your accountant is not intimately familiar with condo hotels, have him refer you to an associate who is.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
How Condo Hotels are Sold
By Todd Peterson
Most condo hotels are sold pre-construction and through a reservation process. A reservation generally consists of signing an agreement that you have an interest in learning more about the opportunity. A reservation secures you the opportunity to attend a sales event and make a purchase if you choose to do so.
Most reservations require a fully refundable $5,000 deposit. By and large, you cannot attend the sales event if you do not have a reservation. If you choose to make a purchase at the sales event, you generally put down a 10% deposit to secure the property.
Almost all 4 and 5 star condo hotels sell out in the pre-construction phase. Typically, branded condo hotels sell out in the first day that they are made available for purchase. Some of the most recent examples of one-day sellouts are Trump Waikiki and Hard Rock Hotel San Diego. Trump Waikiki sold over $700 million in real estate in the first 9 hours they were made available. Hard Rock San Diego sold over $300 million in the first 6 hours they were made available. Needless to say, many persons were not able to purchase. Only those who put in reservations at the early stage of the development had the opportunity to make a purchase.
A common question is whether you can double escrow a condo hotel. Some developers will allow this, but most do not. In fact, most developers have it expressly written in the contract that if you open escrow on a property you must wait until you close before you will have the opportunity to put it on the market.
Once escrow has closed and an owner wishes to resell their property, they have all of the options available to them that they would if they were selling traditional real estate. They can either try to sell it themselves or use an agent who works for Coldwell Banker or Century 21. But, there’s an even better option.
As is often the case with higher end branded condo hotels, most will have a sales office in the hotel lobby or onsite to assist owners in reselling their property. This is almost always the smartest way to go about reselling a condo hotel and it’s wise to take advantage of this resource. The thousands and thousands of hotels guests staying at the hotel on a monthly basis are all prospective buyers and they’ll walk right by the sales office each visit. You couldn’t ask for a more targeted amount of high volume foot traffic.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Most condo hotels are sold pre-construction and through a reservation process. A reservation generally consists of signing an agreement that you have an interest in learning more about the opportunity. A reservation secures you the opportunity to attend a sales event and make a purchase if you choose to do so.
Most reservations require a fully refundable $5,000 deposit. By and large, you cannot attend the sales event if you do not have a reservation. If you choose to make a purchase at the sales event, you generally put down a 10% deposit to secure the property.
Almost all 4 and 5 star condo hotels sell out in the pre-construction phase. Typically, branded condo hotels sell out in the first day that they are made available for purchase. Some of the most recent examples of one-day sellouts are Trump Waikiki and Hard Rock Hotel San Diego. Trump Waikiki sold over $700 million in real estate in the first 9 hours they were made available. Hard Rock San Diego sold over $300 million in the first 6 hours they were made available. Needless to say, many persons were not able to purchase. Only those who put in reservations at the early stage of the development had the opportunity to make a purchase.
A common question is whether you can double escrow a condo hotel. Some developers will allow this, but most do not. In fact, most developers have it expressly written in the contract that if you open escrow on a property you must wait until you close before you will have the opportunity to put it on the market.
Once escrow has closed and an owner wishes to resell their property, they have all of the options available to them that they would if they were selling traditional real estate. They can either try to sell it themselves or use an agent who works for Coldwell Banker or Century 21. But, there’s an even better option.
As is often the case with higher end branded condo hotels, most will have a sales office in the hotel lobby or onsite to assist owners in reselling their property. This is almost always the smartest way to go about reselling a condo hotel and it’s wise to take advantage of this resource. The thousands and thousands of hotels guests staying at the hotel on a monthly basis are all prospective buyers and they’ll walk right by the sales office each visit. You couldn’t ask for a more targeted amount of high volume foot traffic.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
World Class Management Teams Oversee Branded Condo Hotels
By Todd Peterson
The luxury 4 and 5 star condo hotel operators consistently attract and hire the most experienced professionals in the hospitality industry. This will be the team working for you and overseeing your property. They are established with a world-class track record in hospitality and hotel management. They’ll ensure that your property is looked after properly, that the occupancy rates increase year after year, and that the nightly rates continue to command top dollar.
The most obvious benefit of having a world-class management team overseeing your property involves the rental aspect. At the top of most prospective owners minds is the area of rental management and the possible income that might be achieved. As an owner, you’ll always have peace of mind knowing that the team managing the rental of your property has decades of experience and massive infrastructure to guarantee that your property always commands top dollar and that everything possible is being done to attract guests.
Condo hotels are the ultimate hassle free rental property. You can live and work in Los Angeles and buy a condo hotel in Palm Springs that you use maybe two to four weeks a year. Your rental management company will rent the room for you the rest of the time, when it would otherwise be empty, and this will help you offset some of the expense.
Another major benefit of having a world-class management team overseeing your property is that it means you won’t have to deal with the daily headaches that can accompany rental property ownership. As anyone who has ever owned rental properties can attest to, rentals properties can often be a nightmare. Many of the purchasers of condo hotels have owned multiple rental properties in the past. These owners know all too well the hassle of receiving a call in the middle of the night from a tenant regarding a leaking pipe or some other unexpected issue that has to be resolved immediately. The matter is only complicated if the owner lives out of state. With the condo hotel, there will be no calls in the middle of the night for the owner to respond to. The hotel’s management team deals with every detail and the owner never has to deal with hassles that traditionally come with owning a rental property.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
The luxury 4 and 5 star condo hotel operators consistently attract and hire the most experienced professionals in the hospitality industry. This will be the team working for you and overseeing your property. They are established with a world-class track record in hospitality and hotel management. They’ll ensure that your property is looked after properly, that the occupancy rates increase year after year, and that the nightly rates continue to command top dollar.
The most obvious benefit of having a world-class management team overseeing your property involves the rental aspect. At the top of most prospective owners minds is the area of rental management and the possible income that might be achieved. As an owner, you’ll always have peace of mind knowing that the team managing the rental of your property has decades of experience and massive infrastructure to guarantee that your property always commands top dollar and that everything possible is being done to attract guests.
Condo hotels are the ultimate hassle free rental property. You can live and work in Los Angeles and buy a condo hotel in Palm Springs that you use maybe two to four weeks a year. Your rental management company will rent the room for you the rest of the time, when it would otherwise be empty, and this will help you offset some of the expense.
Another major benefit of having a world-class management team overseeing your property is that it means you won’t have to deal with the daily headaches that can accompany rental property ownership. As anyone who has ever owned rental properties can attest to, rentals properties can often be a nightmare. Many of the purchasers of condo hotels have owned multiple rental properties in the past. These owners know all too well the hassle of receiving a call in the middle of the night from a tenant regarding a leaking pipe or some other unexpected issue that has to be resolved immediately. The matter is only complicated if the owner lives out of state. With the condo hotel, there will be no calls in the middle of the night for the owner to respond to. The hotel’s management team deals with every detail and the owner never has to deal with hassles that traditionally come with owning a rental property.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Luxury Hotel Brands are Increasingly Involved with Condo Hotels
By Todd Peterson
In the last decade, all of the 4 and 5 star luxury brands have embraced the condo hotel concept. Just a few of the premium brands actively offering condo hotels are Four Seasons, Trump, Westin, Hilton, W, Ritz-Carlton, Rosewood, and Hard Rock. It’s quite evident that the best in the hospitality industry have adopted the condo hotel as the future of vacation property ownership.
This trend of quality hotel brands taking the lead in the condo hotel boom should not be surprising. The business model of condo hotels are a natural fit for a company looking to minimize risk and maximize revenue. By selling off ownerships in the hotel in a preconstruction phase, developers are able to more easily acquire favorable construction financing from banks. This can save hotel developers millions and millions of dollars and shave the number of years it takes them to pay back their loans to the bank.
The condo hotel model has clearly proven to be a financial windfall for hotel developers. The construction debt for a typical hotel project can run from 50 to 60 percent of cost. When the “condo hotel” element is added, the equity credits the developer can earn from condo hotel presales can provide debt financing approaching 90 percent loan-to-cost leverage. This equates to millions and millions in dollars saved. This allows developers to achieve significant front-end profits on the sale of condo hotels. Lenders also like the condo hotel model. They are more willing to finance condo hotels because they are banking on condo sales that come in the preconstruction phase.
Expect the trend of luxury brands building condo hotels to continue. All the data that’s come in over the last few years continues to suggest that condo hotels are the hottest thing going in the hotel industry and that this form of hotel ownership provides the greatest potential for developers and other stakeholders in a new project.
The locations that most major brands are now honing in on are major urban destinations. Many top brands already have condo hotels in North America’s major winter and beach destinations. Now it’s a race to put up condo hotels in North America’s finest cities. The major cities that have attracted the most attention are New York, Las Vegas, Miami, Chicago, and Los Angeles. Within the next few years don’t be surprised to see every major 4 and 5 star brand with a condo hotel in the aforementioned cities.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
In the last decade, all of the 4 and 5 star luxury brands have embraced the condo hotel concept. Just a few of the premium brands actively offering condo hotels are Four Seasons, Trump, Westin, Hilton, W, Ritz-Carlton, Rosewood, and Hard Rock. It’s quite evident that the best in the hospitality industry have adopted the condo hotel as the future of vacation property ownership.
This trend of quality hotel brands taking the lead in the condo hotel boom should not be surprising. The business model of condo hotels are a natural fit for a company looking to minimize risk and maximize revenue. By selling off ownerships in the hotel in a preconstruction phase, developers are able to more easily acquire favorable construction financing from banks. This can save hotel developers millions and millions of dollars and shave the number of years it takes them to pay back their loans to the bank.
The condo hotel model has clearly proven to be a financial windfall for hotel developers. The construction debt for a typical hotel project can run from 50 to 60 percent of cost. When the “condo hotel” element is added, the equity credits the developer can earn from condo hotel presales can provide debt financing approaching 90 percent loan-to-cost leverage. This equates to millions and millions in dollars saved. This allows developers to achieve significant front-end profits on the sale of condo hotels. Lenders also like the condo hotel model. They are more willing to finance condo hotels because they are banking on condo sales that come in the preconstruction phase.
Expect the trend of luxury brands building condo hotels to continue. All the data that’s come in over the last few years continues to suggest that condo hotels are the hottest thing going in the hotel industry and that this form of hotel ownership provides the greatest potential for developers and other stakeholders in a new project.
The locations that most major brands are now honing in on are major urban destinations. Many top brands already have condo hotels in North America’s major winter and beach destinations. Now it’s a race to put up condo hotels in North America’s finest cities. The major cities that have attracted the most attention are New York, Las Vegas, Miami, Chicago, and Los Angeles. Within the next few years don’t be surprised to see every major 4 and 5 star brand with a condo hotel in the aforementioned cities.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Costs Associated with Owning a Condo Hotel
By Todd Peterson
Condo hotels have many of the same costs that you would find with the purchase of any other form of real estate. Typically, you have three costs. You have your monthly mortgage payment, yearly property taxes, and monthly Homeowner Association Dues (HOA’s).
Your monthly mortgage for a condo hotel will operate in the same manner as a mortgage you might have for the residence in which you currently reside. You obtain a loan, agree to all conditions and promise to make monthly payments, and then you make your monthly mortgage payments until the loan is resolved. That’s it. Just remember, condo hotel loans are not saleable to Freddie Mac or Fannie Mae and therefore carry slightly higher rates and stricter loan qualification terms.
In almost all circumstance, yearly property taxes will be the exact same for a condo hotel as they will be for traditional real estate in the same area. For example, if property taxes are 1.2% for a single family home, in all likelihood, the property taxes for a condo hotel in that same location will be 1.2%.
Every condo hotel will have HOA dues. In addition, most condo hotels also have master association dues. These expenses will be assessed to all unit owners on a monthly basis. The best part about condo hotel HOA dues is that they cover nearly everything. HOA’s will typically cover all utilities: electricity, air conditioning, water, etc. Most importantly, most HOA’s also cover the room reserves. This means it’s highly unlikely that you’ll ever be faced with an unexpected cost that you’ll have to pay for out of pocket. Other items covered by HOA’s are ground maintenance and common area maintenance.
All in all, condo hotels have all the costs that you would expect to find. The fees of ownership vary only slightly from what you would find with traditional real estate. Of course, owners of traditional real estate rarely have an HOA that covers all utilities and reserves for home repair.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Condo hotels have many of the same costs that you would find with the purchase of any other form of real estate. Typically, you have three costs. You have your monthly mortgage payment, yearly property taxes, and monthly Homeowner Association Dues (HOA’s).
Your monthly mortgage for a condo hotel will operate in the same manner as a mortgage you might have for the residence in which you currently reside. You obtain a loan, agree to all conditions and promise to make monthly payments, and then you make your monthly mortgage payments until the loan is resolved. That’s it. Just remember, condo hotel loans are not saleable to Freddie Mac or Fannie Mae and therefore carry slightly higher rates and stricter loan qualification terms.
In almost all circumstance, yearly property taxes will be the exact same for a condo hotel as they will be for traditional real estate in the same area. For example, if property taxes are 1.2% for a single family home, in all likelihood, the property taxes for a condo hotel in that same location will be 1.2%.
Every condo hotel will have HOA dues. In addition, most condo hotels also have master association dues. These expenses will be assessed to all unit owners on a monthly basis. The best part about condo hotel HOA dues is that they cover nearly everything. HOA’s will typically cover all utilities: electricity, air conditioning, water, etc. Most importantly, most HOA’s also cover the room reserves. This means it’s highly unlikely that you’ll ever be faced with an unexpected cost that you’ll have to pay for out of pocket. Other items covered by HOA’s are ground maintenance and common area maintenance.
All in all, condo hotels have all the costs that you would expect to find. The fees of ownership vary only slightly from what you would find with traditional real estate. Of course, owners of traditional real estate rarely have an HOA that covers all utilities and reserves for home repair.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Benefits of Owning Pre-construction Condo Hotels
By Todd Peterson
As with most real estate transactions, those who get in early, get the most benefit. Once a luxury 4 and 5 star condo hotel has been completed and is fully operational, it’s not uncommon for resale prices to have appreciated in the double digits. All of this upward movement in price can occur in the course of only 18 to 24 months. This has happened time and time again and it’s a major reason many investors have purchased multiple premium condo hotels in the pre-construction phase.
The most common cliché regarding preconstruction real estate is “You get to secure your purchase of tomorrow’s real estate at today’s prices.” And while that statement may be passed around a little too often, it does capture the very definition of preconstruction. You do get to buy the properties of the future at present day pricing.
Your opportunity to purchase a condo hotel in the preconstruction phase is quite good. Nearly all condo hotels are sold at preconstruction. In fact, the very best condo hotels tend to sell out 100% of their inventory in the preconstruction stage. Savvy real estate investors know that preconstruction pricing can be a bargain and that the property can sell for a great deal more once it is completed and fully operational.
Some developers will space the release of their inventory over the course of two or three phases. Pricing tends to be progressively higher each phase. On some of the higher end condo hotels, you can see a price jump of 10% between phase 1 and phase 2. And, of course, the difference between phase 2 and phase 3 can be equally substantial. This is why you’ll often find the most savvy real estate investors who own several condo hotels making their purchases in the very first phase of the preconstruction development.
However, one should be very careful and incredibly selective when considering the purchase of a condo hotel. In the last few years many pseudo investors have lost money by purchasing condo hotels with the idea of turning a quick buck in mind. Not all condo hotels are the same. If the condo hotel does not have a major brand associated with it, one should be more cautious. The possibility of a Trump or a Ritz Carlton losing value is much less likely than a no name condo hotel. In fact, many real estate investors make it their number one rule of never owning a non-branded condo hotel. With that said, if you find a non branded condo hotel in a prime location and it has all the indicators of a winning property, it can perform just as well, if not better, than a branded condo hotel.
In addition to being more cautious of non-branded properties, if the condo hotel is being built in a region that is saturated with condo hotels, be particularly weary. This problem of saturation has afflicted the Las Vegas market in recent years and many condo hotel owners ended up purchasing a property that is worth less now than when they originally bought it. The theory of supply and demand holds true for condo hotels, as well. If there is a glut in the market place of condo hotels, you might want to think twice about purchasing.
You can register with Condo Hotel Property Alerts to receive advance notification on the newest pre-construction projects.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
As with most real estate transactions, those who get in early, get the most benefit. Once a luxury 4 and 5 star condo hotel has been completed and is fully operational, it’s not uncommon for resale prices to have appreciated in the double digits. All of this upward movement in price can occur in the course of only 18 to 24 months. This has happened time and time again and it’s a major reason many investors have purchased multiple premium condo hotels in the pre-construction phase.
The most common cliché regarding preconstruction real estate is “You get to secure your purchase of tomorrow’s real estate at today’s prices.” And while that statement may be passed around a little too often, it does capture the very definition of preconstruction. You do get to buy the properties of the future at present day pricing.
Your opportunity to purchase a condo hotel in the preconstruction phase is quite good. Nearly all condo hotels are sold at preconstruction. In fact, the very best condo hotels tend to sell out 100% of their inventory in the preconstruction stage. Savvy real estate investors know that preconstruction pricing can be a bargain and that the property can sell for a great deal more once it is completed and fully operational.
Some developers will space the release of their inventory over the course of two or three phases. Pricing tends to be progressively higher each phase. On some of the higher end condo hotels, you can see a price jump of 10% between phase 1 and phase 2. And, of course, the difference between phase 2 and phase 3 can be equally substantial. This is why you’ll often find the most savvy real estate investors who own several condo hotels making their purchases in the very first phase of the preconstruction development.
However, one should be very careful and incredibly selective when considering the purchase of a condo hotel. In the last few years many pseudo investors have lost money by purchasing condo hotels with the idea of turning a quick buck in mind. Not all condo hotels are the same. If the condo hotel does not have a major brand associated with it, one should be more cautious. The possibility of a Trump or a Ritz Carlton losing value is much less likely than a no name condo hotel. In fact, many real estate investors make it their number one rule of never owning a non-branded condo hotel. With that said, if you find a non branded condo hotel in a prime location and it has all the indicators of a winning property, it can perform just as well, if not better, than a branded condo hotel.
In addition to being more cautious of non-branded properties, if the condo hotel is being built in a region that is saturated with condo hotels, be particularly weary. This problem of saturation has afflicted the Las Vegas market in recent years and many condo hotel owners ended up purchasing a property that is worth less now than when they originally bought it. The theory of supply and demand holds true for condo hotels, as well. If there is a glut in the market place of condo hotels, you might want to think twice about purchasing.
You can register with Condo Hotel Property Alerts to receive advance notification on the newest pre-construction projects.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
Drawbacks to Owning a Condo Hotel
By Todd Peterson
As with all things, nothing is ever guaranteed and even the best things in life come with some drawbacks. Although condo hotels appeal to many people and their benefits are plentiful, it’s always best to know the whole story. Listed below are the major drawbacks to condo hotel ownership.
1) The condo hotel unit may lose value over time. Just like traditional real estate, appreciation is never guaranteed. This very scenario most recently occurred in Las Vegas. Several of the more notable condo hotels have sold for less in the resale market than they did during pre-construction.
2) Local governments typically limit the amount of time owners may use their hotel room. This is done to assure room availability for visitors. In particular, you’ll often find limitations at the condo hotels that are located in cities. The Hard Rock Hotel San Diego, for example, limits owner occupancy to just under a month.
3) Financing is generally costlier than for a primary residence. Your rate may be a full point higher.
4) You will need to give notice that you’ll be staying in the hotel. Condo hotels are located in major travel destinations and are often booked up well in advance.
5) You may not be able to use your room if it has been reserved by another guest. The hotel may not be able to relocate someone from your room to another room – even if another room is available.
6) If you buy preconstruction, you may have to wait a year or two before the condo hotel is completed and ready for operation. This means you won’t be able to stay in it the moment you buy it.
7) You might have to pay extra for daily housekeeping and other services when you’re staying at your place.
8) There will be a monthly homeowner association fee. Although this is hardly uncommon for anyone familiar with condominium real estate, just be aware of all your potential costs. Some condo hotels can have low monthly HOA’s and some can be exceedingly high.
9) Rental income from hotel guests is at the mercy of travel patterns and may decline. Rental income should always be viewed as an added benefit and never something to be counted on.
10) You may have to buy extra insurance to protect against liability claims and some types of damage or loss.
11) Not all condo hotel rooms have storage lockers, so you may not be able to keep any personal possessions in the very room that you own.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
As with all things, nothing is ever guaranteed and even the best things in life come with some drawbacks. Although condo hotels appeal to many people and their benefits are plentiful, it’s always best to know the whole story. Listed below are the major drawbacks to condo hotel ownership.
1) The condo hotel unit may lose value over time. Just like traditional real estate, appreciation is never guaranteed. This very scenario most recently occurred in Las Vegas. Several of the more notable condo hotels have sold for less in the resale market than they did during pre-construction.
2) Local governments typically limit the amount of time owners may use their hotel room. This is done to assure room availability for visitors. In particular, you’ll often find limitations at the condo hotels that are located in cities. The Hard Rock Hotel San Diego, for example, limits owner occupancy to just under a month.
3) Financing is generally costlier than for a primary residence. Your rate may be a full point higher.
4) You will need to give notice that you’ll be staying in the hotel. Condo hotels are located in major travel destinations and are often booked up well in advance.
5) You may not be able to use your room if it has been reserved by another guest. The hotel may not be able to relocate someone from your room to another room – even if another room is available.
6) If you buy preconstruction, you may have to wait a year or two before the condo hotel is completed and ready for operation. This means you won’t be able to stay in it the moment you buy it.
7) You might have to pay extra for daily housekeeping and other services when you’re staying at your place.
8) There will be a monthly homeowner association fee. Although this is hardly uncommon for anyone familiar with condominium real estate, just be aware of all your potential costs. Some condo hotels can have low monthly HOA’s and some can be exceedingly high.
9) Rental income from hotel guests is at the mercy of travel patterns and may decline. Rental income should always be viewed as an added benefit and never something to be counted on.
10) You may have to buy extra insurance to protect against liability claims and some types of damage or loss.
11) Not all condo hotel rooms have storage lockers, so you may not be able to keep any personal possessions in the very room that you own.
Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com
Visit http://www.premiumcondohotels.com to learn more about the condo hotel industry.
Article Source: http://EzineArticles.com/?expert=Todd_Peterson
The Renaissance Of Downtown Miami - New Opportunities For Retail Business And Real Estate
By Orlando A Garcia
From deserted nighttime streets, to the place to live, shop, and play, Downtown Miami is experiencing an unprecedented transformation for South Florida. Miami is reinventing itself into a major metropolis, and the changes are more evident along the Biscayne Boulevard corridor.
Large condo projects are changing the skyline, and despite the uneasiness created by the recent slump in the real estate market, and the worries about the impact of a massive influx of new condos, construction remains strong. Major retail and mixed-use projects are underway, studies done by the City estimate the number of residences in the Downtown area, currently at 20,000, will reach 70,000 residents by 2030.
Planners remain optimistic in the long term about Miami real estate, and the Downtown area. The number of people working in Downtown today (105,300) is expected to grow by 34%, and as the area develops, many employed in the business district will consider the convenience of buying or renting real estate in the area, and avoiding the daily commute.
Developers are jumping to the opportunity: one mixed-use project, (Met Miami) is breaking ground this year, will add 120,000 square feet of retail space including dinning, entertainment, and national retailers. The first phase is under construction, including 447 residences, offering luxury condos and lofts.
Europeans and Latin Americans are also buying second homes in Miami, spending time and money in town. Many are buying properties in the new condo towers; even in the current condition of the market, Miami real estate is very attractive compared to other major markets. Part of the appeal is the diversity and international flavor of the city, the privileged location as a gateway to Latin America, and a major transportation, business and financial hub.
The city is offering incentives to retail business: assistance up to $100,000 to property owners for exterior improvements, and reimbursements up to $65,000 to tenant businesses for fixed interior improvements. The goal is to spur rehabilitation and job creation in Downtown Miami, especially in the Business District around historic Flagler Street. Real estate development will gain from commercial growth in the area, homeowners and tenants will enjoy the vitality of a vibrant 24-hour city with amenities for everyone.
For residential Miami real estate, contact the local expert in South Florida, Miami realtor Orlando Garcia with Ocean View International Realty, visit SellHousesMiami.com for free MLS searches, featured homes for sale, mortgage calculators and tips and advice for buyers and sellers. Give us a call toll free at 800-516-2144
Article Source: http://EzineArticles.com/?expert=Orlando_A_Garcia
From deserted nighttime streets, to the place to live, shop, and play, Downtown Miami is experiencing an unprecedented transformation for South Florida. Miami is reinventing itself into a major metropolis, and the changes are more evident along the Biscayne Boulevard corridor.
Large condo projects are changing the skyline, and despite the uneasiness created by the recent slump in the real estate market, and the worries about the impact of a massive influx of new condos, construction remains strong. Major retail and mixed-use projects are underway, studies done by the City estimate the number of residences in the Downtown area, currently at 20,000, will reach 70,000 residents by 2030.
Planners remain optimistic in the long term about Miami real estate, and the Downtown area. The number of people working in Downtown today (105,300) is expected to grow by 34%, and as the area develops, many employed in the business district will consider the convenience of buying or renting real estate in the area, and avoiding the daily commute.
Developers are jumping to the opportunity: one mixed-use project, (Met Miami) is breaking ground this year, will add 120,000 square feet of retail space including dinning, entertainment, and national retailers. The first phase is under construction, including 447 residences, offering luxury condos and lofts.
Europeans and Latin Americans are also buying second homes in Miami, spending time and money in town. Many are buying properties in the new condo towers; even in the current condition of the market, Miami real estate is very attractive compared to other major markets. Part of the appeal is the diversity and international flavor of the city, the privileged location as a gateway to Latin America, and a major transportation, business and financial hub.
The city is offering incentives to retail business: assistance up to $100,000 to property owners for exterior improvements, and reimbursements up to $65,000 to tenant businesses for fixed interior improvements. The goal is to spur rehabilitation and job creation in Downtown Miami, especially in the Business District around historic Flagler Street. Real estate development will gain from commercial growth in the area, homeowners and tenants will enjoy the vitality of a vibrant 24-hour city with amenities for everyone.
For residential Miami real estate, contact the local expert in South Florida, Miami realtor Orlando Garcia with Ocean View International Realty, visit SellHousesMiami.com for free MLS searches, featured homes for sale, mortgage calculators and tips and advice for buyers and sellers. Give us a call toll free at 800-516-2144
Article Source: http://EzineArticles.com/?expert=Orlando_A_Garcia
Two Big Austin Real Estate Purchases at Bull Creek
By Kinan I Beck Platinum Quality Author
"Austin based Ardent Residential and Atlanta-based Post Properties have purchased almost five acres of land in a highly desirable area for redevelopment. The two companies, working in partnership, bought up Kingswood Apartments and Bull Creek Townhomes. Bull Creek Townhomes at 4320 Bull Creek Road is a 140-unit residential community. Kingswood Apartments is a 32-unit community situated at 4318 Bull Creek Rd. The two buildings were purchased in two separate deals, apparently as part of a plan to scrape and rebuild.
The new Alexan City Lights apartment complex, a Class-A complex of homes, has been purchased by Los Angeles-based SCI Real Estate Investments LLC. The building was completed only last year by Trammell Crow Residential and Opus West Corp. According to Travis County tax records, the property at 501 East Stassney Lane has a value of $33 million. At the time of the deal, Alexan City Lights was 96% leased. According to reports, the sale was brokered by Apartment Realty Advisors.
Alexan City Lights received a great deal of press last year, when it was built near Congress Avenue in South Austin. This upscale apartment development has many amazing amenities, including remote-controlled limited entry, paved entrance, a coffee bar, a high-tech fitness center that is open 24 hours, a business in conference and center that boasts computers copiers and faxes, a resort style pool, a veranda area, a built in barbecue, and outdoor fireplace, a carport, and an attached parking garage. All common areas of the building include wireless Internet access, and most resident entries have ceramic tile. Most residences include side-by-side refrigerators, built in microwave ovens, gourmet island kitchens, designer cabinets and countertops, faux hardwood floors, vaulted ceilings, crown moldings, large closets, ceiling fans, and large utility rooms. Residence units boast Satina Whirlpool appliances, private patios, linen closets, garden tubs, marble sink vanities, walk-in closets, multiple cable and phone lines, and much more. For truly comfortable urban living, Alexan City Lights certainly delivers with lots of space and a great modern style. The building is comfortable and modern and has all the amenities needed for a modern family or couple.
Lease terms for the apartments are a minimum of 12 months. This three-story building has central air-conditioning and is conveniently located close to a number of good schools, including Pleasant Hill Elementary School, Bedichek Middle School, and Crockett High School. Pets are allowed in the building with no damage deposits or fees. SCI Real Estate Investments LLC certainly brought a building with lots of potential and a good location. The low vacancy rate will only help the investors. At this time it is unknown whether any major renovations are planned, but it will certainly be interesting to see what long-term plans SCI Real Estate Investments LLC has for Alexan City Lights."
Kinan Beck is the Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan’s Austin Real Estate Guide, visit his Austin Texas Real Estate website, & his Austin Apartments website. He has seen considerable success in real estate, and looks forward to many more years in the business.
Article Source: http://EzineArticles.com/?expert=Kinan_I_Beck
"Austin based Ardent Residential and Atlanta-based Post Properties have purchased almost five acres of land in a highly desirable area for redevelopment. The two companies, working in partnership, bought up Kingswood Apartments and Bull Creek Townhomes. Bull Creek Townhomes at 4320 Bull Creek Road is a 140-unit residential community. Kingswood Apartments is a 32-unit community situated at 4318 Bull Creek Rd. The two buildings were purchased in two separate deals, apparently as part of a plan to scrape and rebuild.
The new Alexan City Lights apartment complex, a Class-A complex of homes, has been purchased by Los Angeles-based SCI Real Estate Investments LLC. The building was completed only last year by Trammell Crow Residential and Opus West Corp. According to Travis County tax records, the property at 501 East Stassney Lane has a value of $33 million. At the time of the deal, Alexan City Lights was 96% leased. According to reports, the sale was brokered by Apartment Realty Advisors.
Alexan City Lights received a great deal of press last year, when it was built near Congress Avenue in South Austin. This upscale apartment development has many amazing amenities, including remote-controlled limited entry, paved entrance, a coffee bar, a high-tech fitness center that is open 24 hours, a business in conference and center that boasts computers copiers and faxes, a resort style pool, a veranda area, a built in barbecue, and outdoor fireplace, a carport, and an attached parking garage. All common areas of the building include wireless Internet access, and most resident entries have ceramic tile. Most residences include side-by-side refrigerators, built in microwave ovens, gourmet island kitchens, designer cabinets and countertops, faux hardwood floors, vaulted ceilings, crown moldings, large closets, ceiling fans, and large utility rooms. Residence units boast Satina Whirlpool appliances, private patios, linen closets, garden tubs, marble sink vanities, walk-in closets, multiple cable and phone lines, and much more. For truly comfortable urban living, Alexan City Lights certainly delivers with lots of space and a great modern style. The building is comfortable and modern and has all the amenities needed for a modern family or couple.
Lease terms for the apartments are a minimum of 12 months. This three-story building has central air-conditioning and is conveniently located close to a number of good schools, including Pleasant Hill Elementary School, Bedichek Middle School, and Crockett High School. Pets are allowed in the building with no damage deposits or fees. SCI Real Estate Investments LLC certainly brought a building with lots of potential and a good location. The low vacancy rate will only help the investors. At this time it is unknown whether any major renovations are planned, but it will certainly be interesting to see what long-term plans SCI Real Estate Investments LLC has for Alexan City Lights."
Kinan Beck is the Broker and co-owner of One Source Realty in Austin Texas. Visit Kinan’s Austin Real Estate Guide, visit his Austin Texas Real Estate website, & his Austin Apartments website. He has seen considerable success in real estate, and looks forward to many more years in the business.
Article Source: http://EzineArticles.com/?expert=Kinan_I_Beck
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