Real Estate Information Center

The idea of receiving free government money for any purpose, much less buying a home or rental property is often overlooked by individuals who unknowingly qualify for government home grants. There is a great deal of opportunities in free real estate grants and home improvement grants available to virtually thousands of American taxpaying citizens who unfortunately are completely oblivious to the fact that these amazing free government money programs even exist, and a great portion of the ones who do know about them, are unaware that they may qualify.

By following the links below, you can find a world of valuable information regarding the hundreds of free money programs that the government sponsors. The grant database offers a fountain of information that can guide you to an enormous amount of free financial assistance that not only includes real estate financing opportunities, but a plethora of other available financial aid programs. For now, let’s briefly summarize some of the great advantages there are to acquiring government funded real estate grants.

Continue reading ‘The Various Forms of Real Estate Grants’ »

Q: Hi. Are there set rules for mortgage modifications. I get different answers depending on who I talk to.

A: Great question. There are some questions in real estate where a good real estate should say, “I don’t know.” Until now this was one of those questions. I say ‘until now’ because the current administration’s housing plan addresses the issue of homeowners who can’t afford their monthly payments because of a number hardships. This plan encourages lenders to modify homeowner’s mortgages who fall under the definition of hardship.

And therein lies the rub. The definition is loose at best and includes such things as ARM payment increase, lost income and increased expenses.

The bottom line: an approved mortgage modification would reduce the current payment to 31 percent of before-tax income of the mortgagee. These adjustments would hold for five years in most cases, and after that the lender is allowed to raise the rate by 1 percentage point per year until the rate is close to the prevailing rate during the week that the loan modification was approved.

Continue reading ‘Real Estate Q&A March 2009 – Mortgage Modification Update’ »

The main differences between a real estate agent and a real estate broker are the licensing, education, and experience required for each. Both real estate agents and brokers are required to be licensed by the state government they are in, but the licenses for each have different requirements. Licensing requirements for both agents and brokers vary from state to state, but most state governments require that a minimum number of classes are taken before a person is able to take the licensing test. The educational requirements for brokers are higher; and the state generally also requires them to work as a real estate agent for several years before being allowed to take the exam.

Generally if a person is interested in buying or selling property of some kind, an agent is the one who you will be interacting with. They are required to be licensed by the state they are working in. They are also required to work under the supervision of a real estate broker; they are not allowed to work independently. Agents are able to perform most of the basic tasks that a buyer or seller might need. These tasks include finding potential properties for a buyer, or buyers interested in a property for a seller and negotiating between buyer and seller to help them come to a sales agreement. They have access to many of the same resources as the broker they work for. Real estate agents do not actually form contracts themselves however, any contracts they help form are actually between the buyer/seller and the broker that they work for.

Continue reading ‘The Difference Between a Real Estate Agent and a Broker’ »

Foreclosures Are at All Time Highs! House Prices Are Crashing! No More Zero Down Loans! No Doubt you’ve seen these headlines and many like them. It seems like there is nothing but increasingly bad news on a daily basis about the real estate market. But one difference that tells the prospering real estate investor, the real estate “heavyweight”, from the small timer is his ability to stop looking at the market as a passive observer and start understanding where the new opportunities are. And let me tell you, there are numerous opportunities in this new real estate bubble!

“But,” disbelieveers say “the real estate bubble burst already!” Yes, values peaked out and then fell, lenders are getting tight with loans and the availability of pre approved buyers has shrunk. You’re correct, THAT bubble HAS burst. But like the fabled phoenix from the fire a NEW world of real estate has been produced, and it’s filled with new possibilities if you know how to look for them!

Continue reading ‘How Real Estate Heavyweights Discover Opportunities in the New Real Estate Bubble’ »

When it comes to buying yourself a home, you want your home to be in a place that you would like to live for a certain period of time. In order for you to get the home that you want you are going to need to get yourself a real estate agent. Now, you can choose an agent from a couple different real estate groups, but which ones are the best? And which ones will work the hardest to get you your dream home?

We all know about the big real estate groups that have gone completely corporate. These are real estate chains; they have offices all over the country. When you begin thinking about a home, you need to think about who is going listen and work for you? You can get this experience from a big real estate firm, but it may not be on a level that is suited for you.

So why not take it a step down and go local? There are many independent real estate firms that you can choose from. Most of these smaller firms have a bit of a more personal touch. You can get a personal touch with a larger firm of course, but it will not be as common.

Continue reading ‘Differences Between Real Estate Groups’ »

Even though hurricane Katrina and other natural disaster have discouraged many investors from purchasing Louisiana real estate, there are several characteristics of the state that make it valuable and attractive to more and more buyers every year.

Price
One of the most attractive features of Louisiana property is affordability. For example, compared to real estate listings in other coastal states like California, New York, and New Jersey, real estate prices in Louisiana are usually half the price, or lower. And, whether you are looking for condos, townhomes, single family homes, commercial property, or an empty lot for building, there are a lot of listings to choose from.

Atmosphere
In addition to the attractive price tag on Louisiana real estate, Louisiana is an attractive place to invest because of the subtropical climate, lush scenery, fertile soil, and bountiful waterways that make the state both beautiful and productive. And, if you enjoy sampling the food and traditions of different cultures, Louisiana is a wise choice again because of the many different ethnic groups that settled the area and still have a strong presence in cities like New Orleans and Baton Rouge.

Continue reading ‘A Brief Overview of Louisiana Real Estate’ »

Applying for and receiving grants for homes can be your way of cashing in on the current real estate market without any cash out of your pocket. These government programs are helping millions of people, and here’s how it can help many others.

Grants for homes are available through state and local government agencies for a variety of purposes and uses:

* To Assist with Down Payments
* Home Repair and Improvements
* Get Out of Debt

Continue reading ‘Grants For Homes – Getting Free Money For Real Estate’ »

Staying afloat and keeping your job in an economic recession can prove to be tough. Everyone in the real estate industry, from agents to appraisers and even title companies, is affected by the declining economy and the lack of home sales. By taking the time to do a few small things, you can easily make sure that you have work at all times, even when things are on the slow side. For example, if you’re an appraiser, take the time to advertise to people who are looking to sell or refinance their homes. This is almost the only business going on since home sales are so slow right now, and you can actually benefit greatly from these people. Let people know how important your services are, no matter what you do, so that they feel the need to acquire your services for their real estate ventures.

Agents, title insurance companies, inspectors, mortgage companies, and appraisers alike all need to do the same thing. Find the business that is going on, and do everything in your power to convince people to work with you. Build a reputation for yourself, or use the one that you have previously built, to help people feel secure in working with you. Continue reading ‘Tips & Tricks – Real Estate Industry in Recession’ »

There are several reasons why homeowners need appraisals on their property. From date of death, to refinance, new home equity loans and purchases, to value to sell, wills and trusts or PMI removal, there are many occasions to hire a independent third party like a professional real estate appraiser to find the value of a home.

Before May 1, 2009, many appraisers worked primarily with mortgage brokers and lenders for lending-related business. Brokers and lenders could pick and choose which appraisers they worked with and those they did not want to work with. Non-lender business, through attorneys and accountants relies on strong relationships between professionals and appraisers as well. Homeowners, in non-lending situations generally have the flexibility to work with an appraiser of their choosing as well.

Continue reading ‘Residential Real Estate Appraising Secrets – Why Do You Need an Appraiser?’ »

Are you in the real estate business and done know what to do with your accounting problems? Is making a balance sheet and income statement causing you to lose sleep? Real estate accounting is quite different from the accounting one learns in school. For small businesses where one has to worry about how to increase customer attention, accounting problems are often taking for granted. Real estate accounting is important and vital for the company to continue existence.

Here are a few reasons why Real estate accounting becomes a necessity.

People in the real estate business don’t often have time for accounting. They are the kinds that don’t touch accounting until the time comes to pay taxes. This is a very wrong approach. Firstly, accounting needs to be done the minute a transaction is recorded. Else the amounts get distorted and the tax payment amount becomes different. Accounting is important is it is often said that accounts are the face of the business.

Continue reading ‘Real Estate Accounting -To Make Sure Your Real Estate Worry Becomes History’ »