|
|
-
Zillow has announced the launch of rentals on Zillow. When Zillow was launched in 2006, the goal
was to create a database of all the homes in the U.S., with each home filled
with rich information so that people could make smarter home-related decisions
at every stage of their lives. Since then, Zillow has opened up the database to
their users, allowing them to claim a home, edit home facts, post a home for
sale or set a “Make Me Move” price.
According to Zillow, the recent launch addresses two of the most common
requests from users, which include the ability to post a home for rent,
and to empower home shoppers with information about finding homes for rent.
Owners of rental properties and property
managers can now market rental listings on Zillow, one of the largest real
estate websites, and reach 8.3 million people every month, including a million
renters and many others who are on the fence about whether to buy or to rent.
According to the company, the easy posting tool allows users to create rich
listings, with unlimited photos and detailed rental info including lease term,
availability and whether pets are allowed. For $9.95 per listing, rentals will
be featured on Zillow and show up at the top of Zillow search results where they
receive six times as many views as non-featured listings. Listings can remain
active for 180 days—or, until the home is rented; eliminating the need to keep
reposting every few days.
According to Zillow, one of the site’s most compelling new features is an
innovative search comparison in which home shoppers on Zillow can now search for both rental and for-sale homes in their area and
compare monthly costs. This new, monthly payment search filter allows shoppers
to compare rental and for-sale homes side-by-side based on a monthly payment
they can afford, and decide what the best solution is for them. This should
appeal particularly to the 25% of people who plan to move in the next three
years and say they will search simultaneously for both rental and for-sale
homes, according to a recent survey by Harris Interactive.
Landlord or property managers can nowpost theirrental listings on Zillow.
Zillow invites consumers to search their areas and test drive the site’s new
monthly payment filter andsearch experience comparing local homes for sale.
|
-
This article is by Emily
Brandon
The new year will move us one year closer to retirement. But few Americans are
more prepared than last year. We may be tracking the stock market more closely
than ever, but we still need better saving and investment
strategies
to get ready to retire. Here are 10 New Year's
resolutions for retirement.
Set manageable savings goals. Amassing $1 million or more
for retirement—or any other number you have calculated—is certainly a worthy
goal. But accumulating a large chunk of cash takes time and diligence, with few
milestones along the way. Setting intermediate savings goals, such as
contributing enough to get your annual 401(k) match from your employer or saving
10 percent of your pay, can make saving easier. Punam Anand Keller, a management
professor at Dartmouth College's Tuck School of Business, says making a list of
what you will use your
retirement
stash for makes saving less of a sacrifice. "I am saving now so that when I have
time when I am older and retired, I am going to go on exotic international trips
with my friends," she says. "You can actually see it going towards something
concrete rather than just aiming for $1 million."
[See America's
Best Affordable Places to Retire.]
Maximize retirement savings tax breaks. Utilize tax-deferred
retirement accounts as much as possible in the years leading up to retirement.
Workers ages 50 and older can contribute up to $22,000 to a 401(k) in 2010. Only
10 percent of retirement plan participants saved the maximum amount in 2008,
according to an analysis of 3 million Vanguard account holders. At a minimum,
contribute enough to get your employer's full 401(k) match. Those over age 50
with an adjusted gross income
of $66,000 or less ($109,000 for couples) can save another $6,000, tax-deferred,
in an IRA. If neither you nor your spouse has a retirement plan at work, the IRA
income limits don't apply.
Save your sick days for retirement. Some companies give
workers cash payouts for unused sick and vacation days, typically when they
leave a job—but sometimes while still employed. Employees can now deposit that
cash windfall directly into their retirement account, according to a new IRS
ruling. Ask your human resources department if your leftover annual leave can be
tucked away in your 401(k), especially if you can't roll over unused time to
next year.
[Find
Your Best Place to Retire.]
Make a long-term
investment
plan. Stop adjusting your investments every time the stock market
appears to hit a peak or trough. "The biggest mistake people make is bailing out
when the market is doing badly and then buying back in when things pick up,"
says William Droms, a Georgetown University finance professor.
"It's best not to make a precipitous change in your portfolio
because of the crash of 2008." Traditionally, workers have gradually reduced
their stock exposure as their desired retirement date approaches. "If you're
really nervous about the market and you want to transition your portfolio to be
more conservative, don't do it all at once," Droms advises. "Do it over a
two-year period until you get where you want to go." Keep in mind that you also
need to beat inflation and prevent outliving your money.
[See Sticking
With Stocks, Even in Retirement.]
Minimize investment fees and penalties. Familiarize yourself
with 401(k) and IRA rules to avoid penalties. Withdrawals from retirement
accounts before age 59½ (and 401[k]'s at a former employer before age 55)
typically come with an early withdrawal penalty of 10 percent plus income tax on
the amount withdrawn. After age 70½, annual distributions from retirement
accounts are required. Seniors who fail to take the withdrawal face a tax
penalty of 50 percent of the amount that should have been withdrawn plus income
tax. Also, pay close attention to investment, administrative, and transaction
fees, which can cut into your returns over time. Note the expense ratio when
choosing among funds in the same asset class. Consider lower-cost investments
such as index funds. Boost
your Social Security checks. Workers often sign up for Social
Security
benefits
as soon as possible at age 62. But payments increase by 7 to 8 percent for each
year a worker delays his or her start date between ages 62 and 70. "It's a much
bigger payout if you can afford to wait," says Droms. Monthly
checks are calculated using the 35 years you earned the most. Thus, every
top-earning year in your 60s cancels out a year earlier in your career when you
earned less.
[See 6 Ways to Maximize Your Social Security
Payout.]
Coordinate retirement with your spouse. Married workers
can strategize about when to sign up for Social Security to maximize their total
benefits. Spouses are entitled to Social Security benefits based on either their
own earnings or checks equal to 50 percent of the higher earner's benefit. When
one spouse passes away, the survivor's benefit for the other is the full amount
of Social Security the higher earner received. "If you and your spouse are
approaching retirement age, put together a plan for how to claim Social Security
benefits," says Andrew Biggs, a resident scholar at the American Enterprise
Institute and a former deputy commissioner of the Social
Security
Administration.
"Claiming at different ages can increase total lifetime Social Security benefits
as well as generating greater protection for a surviving spouse later in
life."
Downsize
your lifestyle. There's a reason retirees
are known for hitting up early-bird specials and inquiring about senior
discounts. Most don't have a lot of disposable income
to burn. Downsizing into a smaller house or condo after the children move out or
selling a second car previously used for a spouse with a separate commute can
give a major boost to your nest egg. After you exit the workforce, consider
relocating to a locale in the United States or even abroad where the cost of
living and taxes are lower. A growing number of retirees are also sharing a roof
with their adult children to cut costs for both generations. Generally, the
grandparents provide some child care for grandchildren, and the rest of the
family pitches in with elder care as needed.
[See 8 Tips for an Affordable Retirement
Abroad.]
Delay your
retirement date. For workers without traditional pensions, a life of
full-time leisure may be a thing of the past. Just over a quarter of Americans
between ages 65 and 75 continued to work in 2008, according to the Census
Bureau. Workers on the cusp of retirement with meager savings will have little
choice but to continue working. Delaying retirement packs the double punch of
giving you more time to tuck money away and reducing the number of years that
your savings must last. "Putting off retirement a year or two can do really
wonderful things for your retirement situation," says Droms. "Leave your money a
bit longer, and give it a chance to recover without depleting your assets at a
bad time to deplete them." But that doesn't mean you need to stick with a
full-time job you dislike. About 40 percent of older workers cut back on their
hours or transitioned into part-time work. Look into consulting, blogging,
teaching, and other opportunities to bring in some extra income from your
accumulated experiences.
[See Deciding When to Delay Retirement.]
Develop a
nonfinancial plan. After you leave the workforce, the hours that used
to be dominated by work can be spent however you wish. Come up with a plan to
pursue a hobby, volunteer, or spend time with your grandchildren. "If you say,
'I'm going to retire in five years so I can start my own business, so I can
spend more time with my family, so I can do something I love,' I think you are
more likely to reach that goal," says Keller. But recognize the difference
between goals and daydreams. Says Keller: "If retirement is a goal but you are
not saving for it, then retirement is just a fantasy." Boost
your Social Security checks. Workers often sign up for Social
Security
benefits
as soon as possible at age 62. But payments increase by 7 to 8 percent for each
year a worker delays his or her start date between ages 62 and 70. "It's a much
bigger payout if you can afford to wait," says Droms. Monthly
checks are calculated using the 35 years you earned the most. Thus, every
top-earning year in your 60s cancels out a year earlier in your career when you
earned less.
[See 6 Ways to Maximize Your Social Security
Payout.]
Coordinate retirement with your spouse. Married workers
can strategize about when to sign up for Social Security to maximize their total
benefits. Spouses are entitled to Social Security benefits based on either their
own earnings or checks equal to 50 percent of the higher earner's benefit. When
one spouse passes away, the survivor's benefit for the other is the full amount
of Social Security the higher earner received. "If you and your spouse are
approaching retirement age, put together a plan for how to claim Social Security
benefits," says Andrew Biggs, a resident scholar at the American Enterprise
Institute and a former deputy commissioner of the Social
Security
Administration.
"Claiming at different ages can increase total lifetime Social Security benefits
as well as generating greater protection for a surviving spouse later in
life."
Downsize
your lifestyle. There's a reason retirees
are known for hitting up early-bird specials and inquiring about senior
discounts. Most don't have a lot of disposable income
to burn. Downsizing into a smaller house or condo after the children move out or
selling a second car previously used for a spouse with a separate commute can
give a major boost to your nest egg. After you exit the workforce, consider
relocating to a locale in the United States or even abroad where the cost of
living and taxes are lower. A growing number of retirees are also sharing a roof
with their adult children to cut costs for both generations. Generally, the
grandparents provide some child care for grandchildren, and the rest of the
family pitches in with elder care as needed.
[See 8 Tips for an Affordable Retirement
Abroad.]
Delay your
retirement date. For workers without traditional pensions, a life of
full-time leisure may be a thing of the past. Just over a quarter of Americans
between ages 65 and 75 continued to work in 2008, according to the Census
Bureau. Workers on the cusp of retirement with meager savings will have little
choice but to continue working. Delaying retirement packs the double punch of
giving you more time to tuck money away and reducing the number of years that
your savings must last. "Putting off retirement a year or two can do really
wonderful things for your retirement situation," says Droms. "Leave your money a
bit longer, and give it a chance to recover without depleting your assets at a
bad time to deplete them." But that doesn't mean you need to stick with a
full-time job you dislike. About 40 percent of older workers cut back on their
hours or transitioned into part-time work. Look into consulting, blogging,
teaching, and other opportunities to bring in some extra income from your
accumulated experiences.
[See Deciding When to Delay Retirement.]
Develop a
nonfinancial plan. After you leave the workforce, the hours that used
to be dominated by work can be spent however you wish. Come up with a plan to
pursue a hobby, volunteer, or spend time with your grandchildren. "If you say,
'I'm going to retire in five years so I can start my own business, so I can
spend more time with my family, so I can do something I love,' I think you are
more likely to reach that goal," says Keller. But recognize the difference
between goals and daydreams. Says Keller: "If retirement is a goal but you are
not saving for it, then retirement is just a fantasy."
|
-
This article is by Amy E. Buttell, Cyberhomes.com
Contributor Whether you’re a long-time landlord or new to the business of managing rental
properties, there are lots of issues to consider when it comes time to place
your rental property up for sale.
“Know the potential tax impact before you sell the property,” advises Karla
K. Dennis, an enrolled agent and CEO of Cohesive, a tax advisory firm in Cypress, Calif.
“Many people are looking to sell their property to secure additional cash.
However, not understanding the full tax implications of the sale and how much
you are going to have to fork over to Uncle Sam can be devastating come tax
time.”
Here are the three most common questions — answered by industry experts —
that landlords looking to sell their property may have about deciding to sell
and the relevant tax consequences.
1. Will I have to pay capital gains taxes on my gains?
Yes, you have to pay federal capital gains taxes and you may have to pay
state or local taxes, depending on where you live. For your federal taxes, the
amount of tax depends on whether you lived in the property for two of the past
five years and how much depreciation you took.
If you lived in the property for at least two of the past five years, you can
exclude part of the gain based on the homeowner’s capital gain exclusion, says
Abe Schneier, senior technical manager of taxation at the American Institute of Certified
Public Accountants in Washington, D.C. If the property has been solely a
rental for the past five years, you do not qualify.
Regardless of whether you lived in the house or not, you’ll be on the hook
for depreciation recapture, because the tax benefit you received from
depreciating your property on your taxes each year lowers your basis in the
house and increases the amount of tax you’ll have to pay when you sell. “If you
depreciated the property in prior years, the gain associated with depreciation
will be taxed at a 25 percent rate,” says Dennis.
2. What expenses related to selling can I deduct?
“Whatever is on the closing statement would be deductible as part of the
process of selling the house,” says Phil Liberatore, CPA, of IRS Problem
Solvers in La Mirada, Calif. This includes any state or local transfer or
selling taxes, legal fees, advertising expenses, Realtor’s commission and
appraisal fees.
3. How do I figure out my basis when calculating if I have a
gain?
It’s in your interest to have as high a basis as possible in your property to
minimize potential taxes, says Dennis. “Start with whatever you paid for it
based on the closing statement when you purchased the property,” says Schneier.
While you can add improvements to the tax basis, you can’t add ordinary repairs
that maintain the property. So if you put in a new kitchen, that’s an
improvement that will increase your basis. But if you put on a new roof because
the old roof was in dire need of repair, that doesn’t increase your basis. Make
sure to keep receipts and document all your expenses, he adds.
|
-
This article is by Kimbrough (Ki) Gray who has worked with Austin real estate for over a decade. Foreclosure City has created the perfect
storm in many major cities in the U.S. - the perfect storm for investors to find
great real estate deals, that is.
Large inventories, low interest rates
and homeowners hungry to sell all make certain cities ideal for picking an
affordable home or two. Before you break a leg rushing out to buy that bargain
real estate, however, you'll want to keep in mind the most important factors in
a successful real estate deal.
Location, condition, price and financing
are all consideration you'll want to keep in mind in order to successfully find
and acquire a great real estate deal.
If you're looking to buy rental
property that will be paid for monthly, then you may want to set your sights on
lower-middle-class areas. Most owners who occupy their homes in these areas keep
their homes well maintained.
Although you'll want to avoid obvious signs
of a bad neighborhood, like boarded up homes or gang graffiti, accessible
transportation and recent signs of construction can translate into good income
on rental properties. It is important to note that prospective renters with
children will want to live in areas with good public schools. Neighborhoods
where homes are similar in size and have similar amenities are also preferred,
along with areas where homes are mostly three-bedroom, two-bath or
more.
Homes that are less than ten years old are more favorable, since
almost all of its systems will be current, and no major renovations should be
needed for some time. If considering a home more than 50 years old, make sure
all systems have been updated, from wiring to plumbing. If not, you're going to
be investing a lot of money on repairs.
The ideal situation would be to
purchase a home that does not need repairs; however, there are an abundance of
homes on the market today that need significant repairs, but can be bought at
bottom basement prices. Many are owned by the lender, and are uninhabitable.
Others may not need anything more than a coat of paint or new carpet.
If
you decide to make an offer on a home that you think is in need of repair, make
sure you make it contingent upon the inspection of the home, along with an
acceptable estimate for all necessary repairs.
Price may not be that easy
to determine, since the sale of so many distressed properties have negatively
impacted the sale price of all homes in the area. Bank-owned properties are in
need to be sold, though. Banks are interested in holding property; they are
interested in making money off the property based on interest. Many have been
willing to take a loss on property just to unload it.
Your target on a
bank-owned property would be to offer 50 to 60 percent of the listed price,
depending on the condition of the property. The more work that needs to be done,
the deeper the discount you ask for. That will give you a starting place for
negotiations.
Your final frontier to conquer in your investment is
financing. Fannie Mae may be where you'll want to start on your quest for
financing. Also, check with your local lender. Mortgage brokers often can find
you the very best deals on interest rates and many can be located easily on the
web. Just make sure they are reputable. Ask for all fees in writing prior to
signing anything.
|
-
Christine Van Tuyl and Margaret La Grange, an award-winning mother-daughter team with Prudential California Realty in Coronado, have compiled their latest list, the “Top Twelve Tips for Buying an Investment Property.” “Real estate investors aren’t necessarily all-cash buyers with millions in the bank,” said Van Tuyl, Prudential agent. “Normal folks with $50,000 to put down can make solid investments and get positive cash flow.” Are you ready to buy an investment property? Here are some things to consider. 1. Location, location, location. We’ve said it before and we’ll say it again. Invest in the best location you can afford. It will determine the kind of tenants you will attract, and how much rent you can charge. A property in a desirable location will also appreciate more over time and be less susceptible to the ups and downs of the real estate market. 2. Don’t go overboard when you’re fixing up an investment property. You don’t necessarily need granite countertops and stainless appliances. After all, you’re going to get some reasonable wear and tear when the tenants move out. Most renters are happy with units that are light, bright and clean. 3. Forget about flipping. Real estate today is a buy-and-hold investment—for at least five to ten years. You’ll face considerably more risk with a shorter time frame. Although your rental will almost certainly appreciate over the next 20 years, the next few years are anyone’s guess. 4. Think long term. For most small investors, long-term ownership makes the most sense. You’ll have plenty of time to ride out any swings in the market, and your rental income will be a nice supplement to your day job. Historically, real estate has been an excellent investment, always appreciating a few points over the rate of inflation. 5. Be prepared to have cash on hand. These days, buying a non-owner occupied property requires at least 25-30% down. 6. Calculate the cost of ownership. This includes all the expenses of owning and managing an investment property, not just mortgage payments. Common expenses include property taxes, insurance, utilities, maintenance, vacancies, and repairs. 7. Look for a property for what it can be, not what it is. Buyers with a little imagination can look past the cracked paint and overgrown landscaping and score a great deal. 8. Hire and pay skilled workers to do your renovations. Start collecting recommendations for electricians, plumbers, painters, and contractors. 9. Always screen your tenants. Run a credit check and call old landlords. Ask if they paid the rent on time, what condition the property was when they left, and if they caused any problems with the neighbors. 10. Read up on your rights as a landlord. Learn about the eviction process and other potential issues so you can do things right, saving time and money. 11. Carefully consider all options. In general, buildings with 3-4 units or duplexes pencil out best, followed by single family homes with 3 bedrooms. Some investors find it works out best to buy a duplex and move into one of the units. 12. Enjoy the advantages of your investment property. When managed correctly, investment properties are a great source of passive income—now, and when you retire. Take advantage of amazing tax benefits to make your investment pay off.
|
-
This article is by Todd Foust is the chief marketing executive for the FOUST Team at C21 Discovery; one of the top-selling real estate teams in Southern California.
The recent downturn in the real estate market has caused many homeowners who were banking on the equity in their house to rethink their retirement planning. Rather than run from the depreciating real estate market, they should consider investing in properties that will carry them through retirement. There is a defined distinction between property you would consider as a home and property best suited as an investment. Many times, real estate that would make a great home would be a lousy rental, while similarly, property that provides excellent financials for investors would not be real estate you’d be proud to call home. This is exactly the reason why real estate buyers need define exactly what purpose the property they are searching for will serve, and then use a specialized approach to find properties that would make good candidates for that usage. Lets first consider real estate used as your primary residence. We will first examine things that make the best homes terrible investments and then how these same shortcomings are huge pluses when viewed through a pair of rental property glasses.
Investing in Real Estate That You Want to Call Home
Uncertain Appreciation – Markets change and no matter how highly desired your location is, there is always zero certainty that appreciation will happen within a short window of time. Illiquidity – Investing in a bigger home, in lieu of acquiring rental property, has the distinct disadvantage of not being able to be turned into quick cash without selling or refinancing. Since the property generates zero monthly cash flow, the only way to collect income is by taking on additional debt (ie refinancing) or an outright sale which can take months to close. Impractical – Beside being slow to sell, selling your home to cash in on the equity leaves the big obvious problem of “Where will you live?” Your going to have to live somewhere and this usually requires either buying another home or paying somebody rent. Tax Consequences – Spending a large amount of money on your home is a rewarding experience and can increase your homes value. You will not, however, discover any new tax breaks even if your tax liability increases. Remember, you are the one paying the taxes in the first place, and deducting them from your income liability does not completely negate those payments. Even if you extend you loan to keep your interest deductions, that additional monthly payment that you picked up during the refinance may have been better used somewhere else, such as in rental property. Investment in Rental Property
Cash Flow – Investings polar opposite of appreciation is cash flow. Cash flow of an investment property is the real indicator of its value. In short, cash flow can be defined as the amount of money the property generates in rents after all expenses are paid. Whether a property appreciates or depreciates is really at the whim of the market and availability of buyers. There is not much a homeowner can do to increase the value of their home without taking on considerable costs that may outweigh any gains in value.
Income property owners, or cash flow investors, have much more control over their properties value. They can increase rents, decrease expenses, or any combination of these to make the cash flow situation better and ultimately increase their property value. 1031 Exchange – An investor’s response to lack of liquidity is found partly in the above explanation of cash flow and partly in a process known as a 1031 exchange. A 1031 exchange allows an owner of rental property to sell their property, identify a replacement property, close escrow on that property, and defer any capital gains taxes until a future date. From Impractical to Practically Too Easy – If the investor decides they want to completely liquidate the property in the future, there are even strategies for this that will severely limit their tax liability and they won’t even have to worry about finding a new place to live! There are lots of options open to rental property owners, none of which are available to a primary residence owner. Additional Tax Benefits – Unlike your home, the value of income rental properties is allowed to be depreciated from most owners tax liability. Also, during rougher rental years, owners are allowed to write off losses directly related to their investment property. Even during a bad year, the tenants that you do have are continuing to pay off your mortgage until you owe nothing. By delaying a little gratification and looking into purchasing rental properties right now, most people will be able to generate a little income, create peace of mind for their own retirement, and have more assets to pass on to their children. We encourage you to start looking this direction immediately. After all, the timing is perfect: rents are up, prices are down, and interest rates are still historically low. Even in a down market, you won’t care if values ever go up because your property continues to generate income and your tenants continue to pay off your mortgage. Even though the timing is perfect, please do not use your home for leverage in order to get into the rental market. Save some money every month, get a second job, or ask your boss for a raise. Just please leave the ever fickle equity in your home alone! We are not advocating living in meager homes and never upgrading your property. In fact, if you have your retirement settled then it may make perfect sense to live a little. We’re speaking more to the people who don’t have a clear plan for their retirement, have a little money to spend now, and want to really invest in their financial future. If that sounds like you, forget the kitchen remodel, the time to get in the rental market is now!
|
-
This article was written by the CMPS Institute www.CMPSInstitute.org Real estate investors and vacation home buyers represented 35-40% of all residential property purchases in the years before the market downturn. Yet, many of these same investors are now experiencing serious negative equity and cash flow issues, and they are wondering if and when they will start seeing some relief. “Although the economic stimulus and housing rescue plans have not been specifically targeted at investors, there are three strategies that can be built around all these new laws that benefit real estate investors,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. 1. Reverse Mortgage for Purchase Transactions. “Until the end of 2009, an investor who is age 62 or older can purchase a 1-4 unit property worth up to $625,500 with a 30% - 35% down payment, live in one of the units, generate income by renting out the other units, and never have to make a mortgage payment for the rest of their entire life,” Nicholas said. “This opens up a lot of options for seniors and investors who are wondering how to supplement their retirement income now that their house values and retirement accounts have taken such a huge hit.” The reverse mortgage for home purchase transactions became available on January 1, 2009, and the higher loan limit of $625,500 became available a few months ago as part of the 2009 economic stimulus plan. Investors who are trying to sell their duplexes, triplexes, or four-unit properties can utilize this strategy in their marketing as a way of stimulating potential buyers. “This strategy has been lost in all the noise of the last few months and very few people are aware that it can be done,” Nicholas said. “The $625,500 higher loan limit really opens up a lot of options, but it expires at the end of the year so you need to take action now.” 2. First Time Home Buyer Tax Credit. “The $8,000 first-time home buyer tax credit can also be utilized on one to four family properties,” Nicholas said. “The greatest thing is that not all buyers need to be first time home buyers. This means that an individual who qualifies for the credit can get their parents to co-sign on the loan and/or contribute to the down payment, and this would not disqualify the individual from taking the credit. A group of friends, relatives or investors could get together and buy a duplex, triplex, or four-unit property, and the credit can be claimed by any one or more of the investors as long as the individual(s) claiming the credit live in one of the units as their primary home for at least three years. They could claim the credit even though they are generating income by renting out one or more of the other units.” The maximum FHA loan-limit on four-unit properties ranges from $521,250 in low cost housing markets up to $1,403,400 in the highest cost markets of the country. An investor who is trying to sell their one to four family unit property can also utilize this strategy to stimulate potential buyers. “This strategy just became a whole lot easier now that the FHA is allowing the credit to be utilized as part of the buyer’s down payment,” Nicholas said. “As of May 29, buyers are now allowed to borrow against the credit or sell it to their lender or another 3rd party as way of helping with their down payment.” 3. Rent-to-Own or Sale-Leaseback Opportunities. “There are a large number of distressed homeowners who will not qualify for the mortgage modification plans announced by the government,” Nicholas said. “These homeowners still need a place to live, and many will not be able to qualify for conventional or government mortgage financing for at least another three to five years.” A rent-to-own strategy is where an investor or Realtor takes a potential home buyer house shopping even though the buyer can’t qualify for traditional financing. The investor buys the house, rents it to the tenant who picked out the house and wants to live there, and gives the tenant the right to buy the home at a pre-determined price at some point in the future. A sale-leaseback strategy is where a homeowner sells their current property to an investor and then pays the investor rent, with the option to buy back the home at a pre-determined price at some point in the future. “While most real estate investors are scrambling to find tenants for their vacant properties, savvy investors could utilize either a rent-to-own or a sale-leaseback strategy to find tenants before they commit their investment dollars to a specific property,” Nicholas said. “This is a fantastic opportunity for investors to work with the large population of people who won’t qualify for the government foreclosure prevention plans.” Even so, there are a few potential landmines to avoid. “If the tenant defaults on their rent or walks away from the deal, the investor could be left holding the bag,” Nicholas said. “Also, if the investor defaults on the mortgage and goes into foreclosure, the tenant may be evicted by the new owner,” said Nicholas. The new federal housing law provides two minimum guidelines that protect tenants in these and other situations: - Tenants are now allowed to occupy the property until the end of their lease term (even after the landlord goes through foreclosure) as long as the new buyer does not intend to occupy the new home as their own primary residence.
- If the new buyer intends to occupy the home as their own primary residence, the tenant must be given a 90 day notice before being forced to leave.
|
-
This article is by Christine Karpinski is the author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment and Profit from Your Vacation Home Dream: The Complete Guide to a Savvy Financial and Emotional Investment
It seemed like a great idea 20 years ago. You’d buy that condo in Florida, vacation there as often as possible, then someday sell your primary residence and spend your “golden years” basking in the sun. But like so many Americans, the nation’s recent economic troubles have given you reservations about taking on too much risk, so your golden years will have to wait. And though you’d hate to sell your beloved getaway, keeping up two homes just won’t be possible on your recessionized budget. Is there a solution? “Absolutely yes,” says Christine Karpinski, director of Owner Community for HomeAway.com and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment. “Renting out your second home will allow you to keep it during these tough times and sets you up with an easy, DIY business that will continue to bring you profits long after the economy has gotten back on its feet.” Karpinski offers five reasons why you should consider renting out your second home: 1. Your fixed income hasn’t kept up with your lifestyle. Even when you’re happy to give up the daily grind of your job, losing the paycheck that comes with it can be pretty painful. Factor in inflation, rising taxes, a depleted 401K and unexpected “new” expenses, and you may find that what seemed like a manageable cost of living five years ago doesn’t seem that way anymore. Your second home, even if it’s paid for, may start looking like a liability due to property taxes, homeowner’s association dues, and maintenance costs. 2. You’ve decided to “retire” from retirement. It is not unusual for people to test-drive retirement and find that it’s just not for them. Work can provide many rich rewards-structure, social interaction, mental stimulation, a sense of purpose, and so forth-that people keenly miss when they retire. And when they discover that quitting “the rat race” isn’t quite what they thought it would be, more and more people are opting to return to the workplace. And nowadays, people simply can’t afford to quit the working world completely. 3. Circumstances have changed since you made your retirement plans. Maybe grandchildren have arrived on the scene and you can’t bear the thought of moving hundreds of miles away from them. Or your parents are in poor health and need you nearby. Or your spouse has passed away and retiring in the Great Smoky Mountains was his idea, not yours. Regardless of specifics, your life bears no resemblance to what you thought it would look like back when you made your retirement plans. 4. You’ve suddenly realized there’s no place like home. Maybe there are no dramatic life circumstances keeping you from moving to your “dream destination.” Maybe you’ve simply changed your mind. You’ve decided you like being near your friends, you don’t want to leave your church or synagogue, and your Tuesday lunch with “the girls” or Thursday Bridge night with “the guys” is a tradition you just don’t want to give up. Or perhaps you’d like to stay in your hometown most of the year and spend the bitterest winter months in your beachfront condo. Renting your second home out during the time you are not staying there makes it financially feasible to keep both homes. 5. You’re currently renting your second home through a property management company, but you’d like to earn more. Ditching the middleman may be the way to go. Property managers charge a hefty fee for their services. In fact, as Karpinski’s books point out, you have to rent ten more weeks with a management company to end up with the same amount of money you’d make renting by owner. And with the growing popularity of vacation home rental websites like HomeAway.com, finding renters is surprisingly easy. “Renting out your second home can make for a valuable revenue stream that will not only prop you up now when you need it most, but could also make your golden years even more golden in the long run,” says Karpinski. “And if you’re like most people, you’ll find that not only will you quickly get the hang of renting, it’s actually fun.”
|
-
This article is by Eric Tyson, MBA, one of the nation’s best-selling personal finance book authors and has penned five national bestsellers and by Robert S. Griswold, MSBA, is a successful real estate investor and hands-on property manager with a large portfolio of residential and commercial rental properties. There’s no question that America is in a tight spot. Every day seems to bring a new wave of recession-related bad news. But stop panicking for a second, tune out the negative chatter, and listen closely. The recent financial and housing crises have actually led to some serious opportunities for level-headed investors who want to get rich the right way rather than get rich quickly. “The grand irony is that the financial and housing collapses actually create a favorable environment for real estate investing,” says Tyson, coauthor along with Griswold of Real Estate Investing For Dummies®, 2nd Edition. “Interest rates are down, property values are depressed in many parts of the country, and real estate is still a great long-term investment. That hasn’t changed. “It’s not for everyone, but if you’re in the right place financially and can afford to invest in real estate, there are plenty of opportunities out there,” he adds. “Our core advice is as true today as it was before the recession,” says Tyson. “The fact is, there’s a right way and a wrong way to invest in real estate. The wrong way led to the recent real estate crisis. The right way can lead to great financial gains for long-term investors.” Here, excerpted from Real Estate Investing For Dummies, are 10 methods for pursuing a real estate fortune the get-rich-right way:All real estate investors need a nest egg. That means even as you develop additional sources of income, you should hold steady on or preferably even cut current expenses in order to build up your savings. Even if you can find properties where the seller provides all the financing, you can’t escape certain out-of-pocket expenses or the opportunity cost of lost income as you expend your time and energy tracking down properties and performing due diligence.
2. Get your credit sparkling clean. The best opportunities and the most options are available to the real estate investors who have both cash and good credit. Sellers and lenders aren’t going to provide financing to a buyer with a poor credit history. Because the purchase of real estate virtually always necessitates the borrowing of funds, make sure that your credit report is as accurate and as favorable as possible.
3. Buy property in the path of progress. It’s usually a good idea to buy in areas that will continue to improve through new investment and economic activity. After you locate the best cities or neighborhoods, look for two types of underachieving real estate assets: Income properties that are tired and worn and have deferred maintenance, or those that are physically sound but poorly managed.
4. Buy the right property at the best price possible. Sounds like a no-brainer, especially in the current environment, right? Unfortunately, it’s often easier said than done. To be successful, you’ll have to follow certain guidelines. Get-rich-right investors rarely buy new or fully renovated properties unless they’re in the path of progress or a prime location. Why? Because the value-added or appreciation has already been taken by the current owner.
5. Don’t fall into the do-it-yourself trap if the “time” factor doesn’t make sense. Yes, doing the work yourself may be cheaper if you know what you’re doing. But it makes no sense to have a rental property off the market for three weeks while you spend evenings and weekends painting in a misguided attempt to save the $1,000 that a contractor would charge for painting that would take two days.
6. Keep abreast of market rents. One of the biggest challenges for most rental property owners is determining the proper rent to charge tenants for newly renovated rental units. But finding the right rental rate simply requires some homework and research. The best indications of the market value of your renovated property can be found through a market survey of comparable properties.
7. Recover renovation dollars through refinancing. A key element of the get-rich-right strategy is to keep your capital working and use leverage reasonably while maintaining sufficient equity to weather the ups and downs of local real estate cycles. Acquiring and renovating your rental property required cash, but you also have increased the income, which has created additional value. You can now use this increased value to refinance the property to cover your initial costs. While you should avoid borrowing too much and overleveraging your investments, you also don’t want to be too conservative and underestimate your cash needs. Borrow extra money or have an untapped line of credit available to allow for reserves.
8. Reposition property with better tenants. One of the best ways to increase the income and value of your newly renovated real estate investment is to reposition the property with new, more financially qualified tenants. Look to upgrade your tenants by marketing to a new target tenant profile and re-leasing the property. After all, the current tenants may be the reason that the previous owner sold the property.
9. Refinance or sell and defer again. Notwithstanding the decline in property values in most areas in the late-2000s, long-term rental property owners find that they have a considerable amount of equity tied up in their property because of the appreciation that has occurred over the decades throughout much of the country. Having some equity in the property is good and keeps you from faltering should the local real estate economics take a hit, but too much equity just sitting in a property lowers your overall returns.
10. Consolidate holdings into larger properties. Most long-term real estate investors find that they reach the point where their management responsibilities and duties no longer conform to the lifestyle that they can afford. They decide to simplify their lives and hire professional property managers to deal with tenants, turnover, toilets, and trash. But finding and paying for a qualified property manager for a diversified portfolio of small rental properties isn’t easy or cost-effective. 1. Save, save, save. “In our experience, successful real estate investors tend to be savvy, hard working, conscientious individuals who enthusiastically perform comprehensive due diligence before buying a property,” says Tyson. “They don’t reinvent the wheel with each deal, because they know their market niche, personal skills, and available resources. They have a vision and use their tried-and-true game plan for each property. “If you develop these skills, you can uncover unique properties with value-added potential that are often missed by others,” he concludes. “So, take advantage of today’s buyer’s market, and get started now.”
|
-
This article is by Jim Coleman who has been in the financial services industry for over 20 years. Coleman specializes in providing comprehensive financial planning, asset management and estate planning services. This isn’t the first time the country’s faced economic uncertainty, but this is a once-in-a-generation confluence of events that have led to a severe market downturn and a ferocious contraction of the global economy. An economic crisis of this magnitude occurring at a time when a record number of people are in or within arm’s reach of retirement is significant. “This could be a secular bear market,” says Jim Coleman of Coleman Financial Advisory Group. Secular trends are major bull or bear trends that generally last for a decade or two. Cyclical trends are minor bull or bear trends within a secular trend. “With that as a possible time horizon, our planning lens must change to ensure we protect any existing wealth while taking advantage of the eventual bull rallies that periodically occur within the secular bear market. The combination of the severity of the market’s contraction and the possibility of an extended downturn means managing finances in a very different way,” says Coleman. While there is no general prescription that will solve the woes of all investors, there are common factors to consider. Any tactical move should be a function of the safety of income stream, how much is already saved, and framed by life stage and goals. There’s no question that for those in the 20 to 30 year-old range, the down market is a buying opportunity. What’s more, plummeting home values coinciding with low interest rates have created an excellent opportunity for qualified first-time homebuyers. Investors in their 40s and early 50s need to buy selectively in the downturn - then sell selectively in the eventual upturn. For those who have not invested heavily in the market, it’s a good time to start participating. For anyone ready to commit to adding funds to the market, it may be wise to use the automatic contribution option, similar to a 401(k), with other investment accounts. However, if a significant nest egg is already in place, consider managing that more conservatively than the new dollars invested into the market. It’s equally necessary to manage any existing debt to avoid being overly leveraged in an environment where income taxes, property taxes, and the cost of living are likely to rise. Investors in the 50 to 60 year-old group have less time to recover from the recession’s blow. According to the Employee Benefit Research Institute, 401(k) investors with more than $200,000 in account balances had an average loss of more than 25% from January 1, 2008 to January 20, 2009. For many, that may mean delaying retirement or taking a part-time job. For this age group, the recession combined with increasing longevity requires a shift in their focus from return on investment to reliability of income, known as the New ROI. Retired persons must keep an eagle eye on portfolio withdrawals. Although 4% a year has been the accepted standard safe withdrawal rate, it may be prudent to withdraw less in years of substantial market declines. Also, this year the Required Minimum Distributions (RMDs) from IRAs and employer-sponsored retirement plans, including qualified pension plans, qualified stock bonus plans, qualified profit-sharing plans, 401(k) plans, 457(b) plans, and 403(b) plans, have been suspended to alleviate the pain of making withdrawals from accounts that likely posted losses.
|
-
Remodeled Victorian
• 1,194 sq. ft., 1 bath, 3 bdrm 2 story -  MLS® $209,000 Central City, Gilpin County - Beautifully remodeled Victorian in the heart of Central City. All appliances are included as is the existing furniture. Hardwood floors and oak trim and wainscoting are everywhere. Lounge by the beautiful bay window in the living room and keep warm by the wood burning stove in the cool evenings. the views of the mountains and valley are spectacular. Perfect for year round living or as a summer getaway. Property information
|
-
This article is by Caleb Groos of findlaw.com Many states within the country, including Arizona and Florida have released figures showing continued decline in SBA backed lending to the state’s small businesses, despite recent government stimulus to bolster SBA backed loans. Lenders blame the government strings attached to the program, while small businesses blame stingy lenders. No matter who’s to blame, there are ways to improve the chances of your business getting an SBA backed loan. As the Phoenix Business Journal reports, for the fiscal quarter that ended March 31, 2009, SBA backed loans were down 67% in number and 65% in amount from the previous year. The Orlando Sentinel reported on recent attempts to open dialogue between small businesses and lenders in Northern Florida, where the rate of lending has plummeted. Lenders blame the conditions attached by the federal government (such as capped interest rates) while would-be borrowers accuse lenders with money of cherry-picking only the most risk-free applicants. So, what are the criteria for getting an SBA backed loan? According to the SBA, the primary consideration in obtaining an SBA backed loan is repayment ability with future cash flow from the business. Other important factors include management capability, good character, collateral and owner investment in the business. With these factors in mind, here are 5 tips to keep in mind when applying for an SBA backed loan: 1. Choose your lender carefully. SBA backed loans are made by private lenders. Banks have differing levels of experience with, and automation to quicken SBA loan processing. The SBA has a “Preferred” Lender Program, based on lenders’ histories in processing SBA backed loans. Using one can speed up your application. 2. Have a strong business plan ready. Have past financial statements and projections of future sales ready. You’ll need to credibly demonstrate how the business will be able to pay back the loan. 3. Know exactly how much you are asking for and when you would be repaying. This will help demonstrate a solid grasp on what you’ll do with the loan and an understanding of exactly how you’ll pay it back. 4. Highlight your experience in this particular business, and the industry in general. You want to communicate that the business has management capable of effectively utilizing the loan funds. Also, have your personal tax returns from the past 3 years ready to show. 5. Be prepared to put up collateral such as real estate. The SBA does not back 100% of the loan. Private lenders will want collateral to secure the portion not backed by the SBA.
|
-
This article is by Christine Karpinski who is the author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment andProfit from Your Vacation Home Dream: The Complete Guide to a Savvy Financial and Emotional Investment You’d love to buy a vacation home, but (let’s be honest) the recession and the not-so-dim memory of the housing bubble have you a bit skittish. If only you could see what the future holds. But since a reliable crystal ball has yet to be invented, you must resort to less mystical indicators. According to Christine Karpinski, the National Association of Realtors® (NAR) 2009 Investment and Vacation Home Buyers Survey suggests that the iron is sizzling hot-and if you’re going to strike, the time is now. “A few years ago when prices were escalating rapidly, people were kicking themselves for not having bought earlier when real estate was far more reasonable,” notes Karpinski, director of Owner Community for HomeAway.com and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment. “Well, in 2012 or so, people will look back on 2009 as another missed opportunity.” While all home sales were down significantly in 2008 (as one would expect)-and vacation property sales were down some 30%-so were real estate prices. That, of course, makes for an extremely favorable buyer’s market. It’s not surprising at all, therefore, that the NAR report found that 80% of vacation property and investment property owners surveyed believe that now is a great time to purchase real estate. These sentiments echo those of Walter Molony, spokesman for NAR, who said in a recent CNBC article that the second home market is “fundamentally healthy.” “The long-term underlying demand is favorable for vacation homes because of the large number of middle-age, middle income Americans [who are the primary buyers of such properties],” Molony was quoted as saying. “In recent years, this market has been driven by the Baby Boomers, but there are two even larger population groups coming up right behind them. Those younger segments will continue to fuel this market for the next 10 years.” Karpinski says the NAR 2009 survey results, in conjunction with a proprietary Special Report done for HomeAway, constitute clear evidence that now is an ideal time to buy a vacation home. She offers the following insights: - Home prices are way, way down. The National Association of Realtors survey showed that the median sales price of the typical vacation home was $150,000-down 23.1% from 2007’s median price of $195,000. (To put this in perspective, consider that when NAR started conducting this survey, the median vacation home price in 2003 was $190,000 and reached a high in 2004 of $204,100.) When combined with the rock bottom interest rates, says Karpinski, all signs point to the likelihood that we’re now at the picture perfect time to buy. “Anecdotally, I can tell you that people who would never have purchased a detached single home on the coast are now seriously considering it,” she notes. “Homes that would have once cost $3 million have now fallen to $1.5 million. And these buyers know that the price won’t stay down long, and will never be this low again.” - It’s never been more obvious that real estate is a sound long-term investment. The NAR survey results revealed that the share of speculator sales is down from 29% to 16%. Combined with the fact that 34% of buyers are purchasing properties within 100 miles or less of their primary residence-which suggests they intend to use it themselves-this trend indicates that more and more people are embracing a “buy and hold” strategy. Plus, Karpinski says she constantly sees evidence that people are beginning to see the long-term benefits of real estate investing earlier in life. (The median age of vacation property buyers in 2008 was a relatively young 47.) - The vacation home rental market is booming. While 89% of vacation property owners surveyed cited “to use for vacations or as a family retreat” as a reason for purchasing their second place answer is telling, indeed. Twenty-seven percent of respondents said they were purchasing their home “to rent to others.” While this number is up from the 25% cited in last year’s survey, Karpinski predicts next year’s survey will really tell the tale. As recession-crunched homeowners pursue new income streams-and as it becomes ever more evident that the vacation rental market is booming-2009 will prove to be a huge turning point in the renting out of second homes. - People are more in touch with “rental realities” than they once were. In the past, says Karpinski, a first-time vacation homeowner might have expected to rent out their property an unrealistic number of weeks (say, 50 weeks out of the year). But NAR’s Special Report for HomeAway shows that 44% of respondents said they plan to rent anywhere between 9-26 weeks. - Renting by owner has become mainstream. The NAR Special Report for HomeAway reveals that 54% of respondents plan to market their homes themselves. This do-it-yourself attitude reflects not only a burgeoning confidence index among vacation property owners, but also the wealth of support resources available to those who want to rent out their homes themselves. Everything has changed. The truth is it’s gotten so easy and so affordable that there’s no valid reason not to do it yourself.” Need one more reason to take the plunge? Consider the fact that last month Fannie Mae rescinded its four-property limit for investors. If you’re financially secure and can come up with the requisite 20% down, chances are good you’re going to easily qualify for a mortgage. “Of course there are always risks when buying any kind of real estate,” Karpinski acknowledges. “But investors who are comfortable with risk have to realize that conditions are ripe right now for a ‘perfect storm’ of success. Even if housing prices do go lower, interest rates surely will not. And once the turnaround comes, selection won’t be nearly as good as it is right now. “Naturally, you should be cautious and do your homework before you buy any property-but don’t be so cautious that you miss this window of opportunity,” Karpinski adds. “These windows do have a way of slamming shut, and you don’t want to be stuck on the other side wistfully looking in a few years down the road.”
|
-
This article is by Christine Karpinski, director of Owner Community (www.OwnerCommunity.com) for HomeAway.com and author of How to Rent Vacation Properties by Owner. As the saying goes, a picture is worth 1,000 words. Photos are arguably the single most important part of your vacation rental listings. And yet, homeowners don’t always give them the attention they deserve. If you’re not carefully staging your rooms before you photograph them, your photos probably aren’t as compelling as they should be. Here are 5 key things you should do to create the best possible vacation rental ad: 1. Get organized. “Make sure the room is clean, organized, and everything is in its place,” says Karpinski. “Then think about what you can do to make it look even better. You might put out some fresh flowers, let in some natural light, or start a fire in the fireplace. If you still aren’t sure whether your photos are a success, show them around to friends and family and ask what they like or dislike.” 2. Words are important too. Adjectives such as “nice,” “gorgeous,” and “cozy” are among the most overused words in the world of vacation rental ad copy. So, when writing or revamping your ad, choose adjectives that describe your second home to a tee. For example, instead of “nice” you might say your home is “picturesque,” or instead of saying your oceanfront patio is “cozy” you might say it’s “idyllic.” Your headline should be your most carefully crafted section, says Karpinski. If you’re using HomeAway.com, VRBO.com, or VacationRentals.com, it might be the first thing a traveler sees. Just like the headline of a print advertisement, your property headline should generate interest in your vacation home in a few, well-chosen words. “You might mention an upcoming holiday or event in your area, list your best amenities, or highlight a special offer or availability,” she suggests. “Just be sure you include some key search words for your area, and always proofread your ad before publishing it. You don’t want a typo causing you to miss out on valuable renters.” 3. Make sure your ad copy showcases everything you have to offer. You don’t want to leave anything out, so don’t try to jot down some copy off the top of your head. The next time you’re at your vacation home, go room-to-room and make a list of the items in each room. Be as specific as possible and don’t overlook things that you think might be common features. “If a vacationer with small kids doesn’t see ‘dishwasher’ listed as an amenity for your home, they might skip right over you,” she warns. “And don’t forget to cover your outdoor amenities. Patio furniture and a grill can be huge draws, especially at a time when people might balk at spending a lot of money on restaurant meals.” 4. Create a video tour of your home. The next time you visit your rental property, make a home tour video that shows each room and the outside of the property. Some portal websites, like VRBO.com, allow you to post videos directly on your listing’s page. If that’s not an option, you can always create your own channel on YouTube devoted solely to your rental home videos. “Video can be a great marketing tool,” says Karpinski. “They let travelers see the layout of your home, the bed setup, and the size of the rooms. Your video will reduce the amount of time you spend answering questions via email or phone calls. Once travelers have taken the time to view the video tour, your inquiries will be more qualified and your travelers may be more inclined to book.” 5. Resist the urge to show off your cleverness by naming your home. Many vacation rental owners are tempted to come up with a cutesy name for their property. If you purchase an older home and it’s already named, you should probably stick with the status quo. Otherwise-unless your name is very distinctive and creative-don’t invite trouble. Not only do names rarely help with your marketing efforts, they might actually harm them. “‘The Barefoot Inn’ might lead people to think you are a bed and breakfast,” Karpinski points out. “Then, they’ll be irked when you’re not.
|
-
HomeVestors® of America, Inc., the company famous for its “We Buy Ugly Houses”® billboards and America’s #1 Home Buyer, has named the top 10 markets for real estate investing in the fourth quarter and 2008. The fourth quarter rankings are as follows: 1. Dallas, Texas
2. Houston, Texas
3. Milwaukee, Wisconsin
4. Philadelphia, Pennsylvania
5. Fort Worth, Texas
6. Minneapolis, Minnesota
7. Atlanta, Georgia
8. San Antonio, Texas
9. Tulsa, Oklahoma
10. Denver, Colorado HomeVestors, which has bought more than 37,000 homes for cash in the U.S. over the last 12 years, based the findings on the number of houses bought in each market by the franchise network in the fourth quarter of 2008. The rankings for 2008 are as follows: 1. Dallas, Texas
2. Houston, Texas
3. Atlanta, Georgia
4. Fort Worth, Texas
5. St. Louis, Missouri
6. Denver, Colorado
7. San Antonio, Texas
8. Philadelphia, Pennsylvania
9. Milwaukee, Wisconsin
10. Minneapolis, Minnesota “Last year was an ugly year for residential real estate, and created record-setting demand for a trusted national home buyer,” said John Hayes, president and CEO of HomeVestors. “Moving into 2009, HomeVestors franchisees continue to pay cash for houses, an increasingly attractive solution for thousands of homeowners also addressing one of the worst credit crises in our nation’s history.”
|
|
|
|