Realty Daily

Nicholas Tan asked:


We know that Colorado is known for Rocky Mountains. But does the Colorado real estate rock as well? Though Colorado real estate doesn’t rock that much, as per the statistics (and when we compare Colorado real estate to others like Florida real estate or California real estate). However, there are people with contrarian views as well. And believe me, contrarian views do sometimes get huge profits for you, because in such circumstances you will generally face lesser competition from other real estate investors and you can probably get a Colorado real estate piece for much lesser than it actually is worth.

However, we are not saying that Colorado real estate has performed badly. Though I don’t remember the exact statistics but Colorado real estate appreciation was about 5-7% only which is much lower to 25% or so for Florida real estate. Again, when we say 5-7% appreciation in Colorado real estate, we are talking about the state in general. So, it’s quite possible that there be regions in the state where the real estate appreciation is say 25% and there could be places where there has been no appreciation in real estate. The opportunity is always there, the only thing you need is the art of finding the Golden deal in this Colorado real estate market.

When assessing Colorado real estate you must take into consideration various factors e.g. you must assess the overall economic indicators and check what effect it can have on Colorado real estate (both in the near term and in the longer term). You don’t need to be a financial analyst or a real estate guru for doing this assessment, you just need to keep track of various news items and analysis reports on Colorado real estate. Also keep track of the mortgage rates and laws on tax breaks (as applicable to Colorado real estate). All these factors influence the trend of real estate anywhere (not in just Colorado). Moreover, you will need to hunt for Colorado real estate opportunities by going to public auctions, foreclosures, teaming up with attorneys for information etc. Again, remember that a not-so-good news about any real estate (be it Colorado real estate or Florida real estate), doesn’t mean that real estate investment won’t make sense at that place; in fact, it might cut down the number of competitors you have.

So, if you feel that Colorado real estate doesn’t rock; you can probably make it rock for you. There always are plenty of opportunities.



Cody

pink_me asked:


I would like to invest in real estate. I am early 40’s, have no debt, home is paid for, etc. I would like to look into buying real estate. I have spent alot of time looking at the local market and have a good understanding of it. But, at this point, I am not sure what to do next. Should I consider purchasing rental property? If so, should I look at small 2 BR homes, duplexes, or homes? Or should I just look for property that has been sitting on the market for a long time that may need some TLC, etc and then flip them? I have never done that and don’t really have alot of time to spend remodeling so I would have to hire out.
And, the area I live in is a rural , somewhat depressed area. What is your approach to Real Estate?

Eileen

MobileMall RO asked:


Hi! I am a Real Estate investor in the Romanian market and we have currently running a $10.000.000 investment . We have 2 more projects but we don’t have a company to partnership with . Romanian is named El Dorado of real estate investment. Where I find companies in USA or EU to send them a proposal ?

Joel

MichaelP asked:


I am 17 and still in high school. I’ve gained interest in real estate and know I want to own my own business. How can I start now as a junior in high school to work towards owning and operating a succesful real estate development business. I would like to be operating on a scale that Donal Trump does one day.

Loretta

YOyo asked:


I want to take my classes for a real estate license well im still in community college, but have another year before I get my bachelor’s degree. So I would have taken classes in Fall 2009 and spring 2010 but would not want to get my license or take the exam until the summer of 2011. Does anyone know of a time constraint that the DRE has?

Lance

bigmacfann asked:


I need some good advice on whether I should start my California-based real estate investment company as a sole proprietorship, a partnership of some sort, or some kind of a corporation. The general purpose of this company is to purchase and rent out residential and commercial real estate. Any help would be greatly appreciated.

Hector

Bob Schwartz, CRS,GRI, San Diego California real estate broker asked:


The American Dream is often paired with owning one’s own home.  For decades Legislator’s have protected that dream with allowing home owners to claim the mortgage interest paid on their homes as a tax deduction.  With a possible phase out of this deduction, could the dream fade?

“There are no cows more sacred in the tax code than the deductions for mortgage interest and property taxes. Together, they add up to at least the $ 75 billion annual subsidy for housing and Homeowners. ” The New York Times.

In 2002, 37.2 million taxpayers claimed the deduction, writing off $336.6 billion, or about $9,000 per taxpayer. Representing about 37% or so of itemized deductions, it was slightly more than itemized deductions for deductible state and local taxes, and twice as much in deductions as charitable donations.  Clearly, the mortgage deduction is important and worth a huge amount of money.

In 2005 it was estimated that:

* The mortgage interest deduction will cost the Treasury $72.6 billion, according to congressional estimates.

* The $250,000 and $500,000 tax-free exclusions of home sale profits for single sellers and joint filers, respectively, will cost $23 billion .

* Property tax write-offs cost $20 billion, and tax subsidies for local and state housing bond programs account for $1 billion.

When a congressional committee examined the distribution of homeowner benefits for 2004, it found that people earning $200,000 and more a year – just one-half of 1% of all homeowners filing for deductions – pocketed 22% of the $70.2 billion in write-offs in 2004.

In 2007, Rep. John D. Dingell (D-Mich.) unveiled a draft of his “carbon tax” legislative reform package. Part of this draft legislation was a phase out the mortgage interest deduction on large homes. The phase-out schedule for the mortgage interest write-off, beginning with houses of 3,000 square feet, which would lose 15 percent of their deductions, and ending with houses of 4,200 square feet and larger, which would receive no deductions at all.

Dingel said: “In order to address the issues of climate change, we must address the issue of consumption-we do that by making consumption more expensive.”

Naturally, with the real estate market bust, the Dingell package was shelved. Once the housing market recovers, lets’ say two years from now, it’s a very good bet the administration will be looking hard at ways to increase taxes to pay down the huge bailouts. The unusual financial troubles and the move to green, will be the perfect time to push through such legislation.  Unlike the Dingel proposal ,which was aimed at larger homes, the future legislation will most probably cover all mortgage interest deductions. To increase its’ chance at passage, it is a good bet it will be a phased in plan with deductions decreasing over a number of years.

To get the reversal of the sacred deduction started, President Obama’s impending budget proposes a cap on the mortgage interest rate deduction.  Couples earning $208,850 or more would loose the deduction. Where currently households at the 33% and 35% tax rates are allowed the deduction, Obama would reduce their deduction to only 28% of the value of those payments.  This is likely a first step to what seems to be a total elimination of mortgage tax deduction.  If (when) this passes, Obama will find it easier to lower the earning cap for the mortgage tax deduction, leading up to an even lesser amount in the future.  It seems on the horizon that the mortgage interest rate will be only for low income earners.



Timothy

johan marco asked:


The Real Estate sector has grown immensely over the past few years. With the revenues ranging from twelve million dollars it stands at an estimated growth rate of thirty percent. Further to elaborate the Real Estate sector stands at the second position in the Indian Economy today. With such huge figures and promising sector the Real Estate sector today invites and attracts many of the professionals who either hold expertise in the Real Estate sector or the young professional who would seek an opportunity to grow in the Real Estate sector. Like every other sector the Real estate sector today attracts many professionals as it promises high growth rate and prominent figures. Hence we find various key players in the Real Estate market today. To recall some of the key players are Real Estate Agents, Real Estate Brokers, property Brokers, Real Estate Consultants, Property Agents, Property Consultants, Real estate Retail, Property Retails, Property Experts, Real Estate Experts and among all those professionals that specialize in the property sector and help in the growth and strengthening of the Real Estate sector. Among all, the one key player that plays the most important role and also maintains the regular updates in the field of Real Estate sector are the Real Estate Agents.

Finding these agents today at every nook and corner of the road to satisfy the increasing demand of the property in the market, these Real Estate Agents are an essential part of the Real Estate sector. The key role as discussed in the previous paragraph of these Real Estate agents are to help the clients in any investments that are planned or are made in the property sector. It is ole their responsibility while they accept the client that they ensure the smooth and easy transaction of property either while purchasing or while selling of the property in the due course of time. Being a part of the Real Estate sector the Real Estate agents are like the basic units of the Real Estate sector like the cell to the living identity. The Real Estate industry offers many services to the clients and so does these Real Estate Agents. The Real Estate agent may tie up with various aligned industries like Architecture, Manufacturers, Builders, Interior Designer and other who can help the property to be customized in order to create a demand and also increase the churn of the property. They would serve from the sale purchase to the agreements and also customization of the property for the client. To conclude one can say that the Real Estate Agents are a bless to not only the Real Estate Sector but also to the clients, with their expertise they help both to gain profits with the self motive to run their lives and earn break and butter. To keep in mind, as suggested always it is an important part for the client to gain certain expertise from the news, articles and various other sources available to them in order to make the transaction error free and smooth in the course of time.

 



Cathy

mama3 asked:


What do I put in the computer to find my local real estate agents nearest to me?

Vicki

Real Estate Advisor asked:


According to “Out of Reach”, the annual report of the National Low Income Housing Coalition (NLIHC), prices of many rental markets have increased sharply over the past few years making affordable housing difficult for low and medium wage workers.

The report reveals a marked disparity between people’s earning and rental housing costs. This difference is sizeable and has increased every year. In fact, the cost of rental housing has gone up by 28% in the past 7 years, much beyond the wages earned by the people who need affordable housing the most.

NLIHC calculated the hourly wage needed to afford the rent and utilities of a market rate rental home in each state. Affordable housing was defined as the cost of a two-bedroom rental home without having to spend more than 30% of one’s gross income on housing costs. The report terms this rate of affordability as the ‘national housing wage’, which has increased to $16.31 from last year’s $15.78.

Housing prices in many rental markets far exceed the wages of the renters, making them the least affordable rental markets. Based on the Out of Reach 2006 report, Hawaii stands at the top of the ten most pricy rental markets for a two-bedroom rental home. Listed below are top 10 most expensive states for rental housing:

1. Hawaii - hourly wage of $23.53 needed to afford a two-bedroom rental home.

2. California - hourly wage of $22.86 needed to afford a two-bedroom rental home.

3. Massachusetts - hourly wage of $22.65 needed to afford a two-bedroom rental home.

4. New Jersey - hourly wage of $21.21 needed to afford a two-bedroom rental home.

5. New York - hourly wage of $20.70 needed to afford a two-bedroom rental home.

6. Connecticut - hourly wage of $20.42 needed to afford a two-bedroom rental home.

7. Maryland - hourly wage of $20.07 needed to afford a two-bedroom rental home.

8. Rhode Island - hourly wage of $19.36 needed to afford a two-bedroom rental home.

9. New Hampshire - hourly wage of $18.10 needed to afford a two-bedroom rental home.

10. Alaska - hourly wage of $17.90 needed to afford a two-bedroom rental home.

The report concluded that a minimum-wage earner making $10,712 a year cannot afford even a one-bedroom home anywhere in the country. The reality is that a wage earner needs to make $28,475 per year to afford a two-bedroom rental home. Families with two minimum-wage earners need to make at least $33,925 to afford a two-bedroom rental home.



Stacy