A New and Growing Vacation Ownership Option

 

One reason for the switch — most clubs provide a guaranteed refund of deposit, which may be more appealing than the liability of purchasing a second home in a potentially risky real estate market.

“With the current market, people are looking for alternatives to owning a vacation home. They still desire the quality time spent on vacations, but they want options,” says Steve Greer, founder of the LUSSO Collection, a boutique luxury travel destination club. “Destination club members get the opportunity to have luxury vacations around the world, without the hassle of second home ownership. Plus they have peace of mind because of the refund available on their deposit.”

Besides being concerned about the unstable real estate market, many people are finding that having a second home is simply too much work. Although you have the benefit of total control over design and decor in your own home, it often requires a lot of maintenance that can add up fast in time and money. If you live far away from your vacation home, that means hiring out the upkeep of the property. If you live close, you might spend half your time there tending to necessary household tasks.

Destination Clubs Offer Peace of Mind in a Risky Market

Destination clubs are another option that consists of members who join a country club type of organization to utilize a portfolio of properties that the club owns. The clubs work well for people who enjoy the privacy, space and conveniences a home offers, but don’t want to worry about maintenance hassles or be limited to one destination. Additionally, certain destination clubs also provide vacation planning and on-site concierge services that you would normally find at a luxury hotel.

Decor and amenities are determined by the club, and although this freedom is forfeited, many view this as a positive. Some people prefer not to spend their own time on these items and find comfort in knowing the organization is consistently keeping the properties in superb shape.

Interest in destination clubs is evident in the recent growth of LUSSO, which has doubled in size since 2007 and recently reported its strongest quarter since its start in 2006. The concept for the LUSSO Collection came to Greer after traveling with his wife and first child. They found rented homes to be unsatisfactory and the prospect of buying a second home unappealing. The need for rented cars, car seats, toys, games and groceries made the travel experience less than pleasant.

With its unique boutique structure and a members-to-residence ratio of 5.5-to-1, LUSSO is a choice that makes sense for a lot of people. Members get unlimited use of private luxury homes that are fully equipped with all needed items including a Lincoln Navigator, golf clubs, a gourmet kitchen stocked with pre-arrival groceries and amenities for all travelers regardless of age. The membership deposit is 100 percent refundable upon resignation as well as annual dues.

With an economic structure that is similar to a country club, members pay a fully refundable deposit (currently $425,000) and annual dues for unlimited access to the club’s portfolio of residences and services. Properties are in locations such as Lake Tahoe, Calif.; Cabo San Lucas, Mexico; Aspen, Colo.; Manhattan; Hawaii; the Bahamas and other choice destinations. For more information, visit www.lussocollection.com, or call (866) GO LUSSO.

Courtesy of ARAcontent

Selling Your Home in a Buyer's Market

It’s a buyer’s real estate market, so every home seller needs to know how to price their home correctly. Price your home too high, and buyers will look at other houses. Price it too low, and you risk losing money.

To price your home correctly, you need to be savvy about your local real estate market. Understanding the market will help you set an asking price that will compete favorably against other comparable homes. It’s easy to do if you just follow these simple steps:

1. Know the Competition: Visit real estate websites and drive through your local area to search for homes for sale that are similar to yours in size, number of bedrooms and bathrooms, lot size and square footage. Educate yourself about their asking prices and, especially for condos, calculate the price per square foot. Trulia.com will do most of this work for you and allows you to print out a list of comparable homes, but you’ll also want to visit Realtor.com and ForSaleByOwner.com to get a more complete list of available homes on the market.

2. Visit Open Houses: Now that you know what’s on the market, visit as many open houses as you can in order to find out how your home compares to others. Your goal is to learn as much about those homes as possible, such as upgrades and renovations to the kitchen, bathrooms and bedrooms.

3. Learn About Recently Sold Properties: Your next step in educating yourself about the local market is learning how much homes have sold for in the recent past. Home sale information is public information and can be found a number of ways. Your county clerk’s office and/or local town hall can provide you with this data, but the Internet has made the task even easier. Trulia.com and Zillow.com each have a “Recently Sold” feature that will list all information about properties that have sold near any given address.

4. Get a Starting Point: For a simple, cost-effective way to get a ballpark range of how much your home is worth, consider getting an Automated Valuation Model (AVM). Similar to a real estate agent’s Comparative Market Analysis, an AVM will compare your home to similar nearby recently sold properties. The AVM won’t know if your home has an upgraded kitchen, finished basement or new roof, etc., but it will give you a suggested range to price your home. The AVM will also provide you with a list of nearby recently sold properties. An AVM tool is available at http://www.forsalebyowner.com/appraisal.

5. Evaluate Your Research: Now that you have information about homes currently on the market, data on recently sold properties and a price range, you have all the data you need to compare your home to others in your neighborhood and local area. Evaluate the information you have learned and ask yourself how your home stacks up with the others. Be honest. What condition is it in and how does in compare in location, features and aspects like a remodeled master bathroom?

6. Live in the Now: One of the biggest mistakes sellers are doing in today’s market is pricing their home at price points of one, two or three years ago. The national median home price has dropped more than 15 percent from April 2007 to April 2008 (in markets in CA, FL and AZ the median home price has fallen by more than 20 percent!), and those that price their home too high will just see it sit on the market. The homes that are selling today are those that are priced competitively to other homes are on the market, providing buyers with the sense that they are getting “a good deal.”

7. Set the Price: The time has come. You now have a complete picture of your real estate marketplace. Set the price using all the information you’ve learned through the above steps.

Congratulations! You have reached a major milestone in your home selling process. Not only have you arrived at an asking price, you have become an expert in your local real estate market. Prospective buyers will be impressed with your sense of knowledge and honest assessment of your home’s value, and you’ll be able to communicate about its strengths and weaknesses as compared to other homes in your neighborhood, town and area.

For more information, visit www.forsalebyowner.com/info.

Courtesy of ARAcontent

Understanding the geography of Texas is also important when looking at Texas real estate. The reasons that you are coming to Texas are also important. It will help you decide where to live in Texas believe it or not. Whether you are buying or selling you need to know these Texas real estate tips.

Where to Live?

The reason you want to live in Texas will take you to different types of Texas real estate. If you are moving to Texas for the many job opportunities available or the fact that there is no personal state income tax then you will probably want to stay within the city limits.

This means a move to Dallas or Fort Worth areas where most of the population lives. This is the best place for you if you are coming from a big city and don’t want to be away from the excitement of living in a city.

The weather in Texas can vary greatly. Most people think of it as a place that’s ideal for barbequing all year round. The Lone Star state has snow too depending on where you are. If you are moving to Texas for warm weather then stay away from the northern parts of the state. Dry weather is seen in the El Paso area and temperatures can exceed 100 degrees in the Rio Grande Valley. So pick your Texas real estate carefully if weather is a factor in your decision.

Pick a Local Realtor

A local realtor is the best person to go to when looking at Texas real estate. A realtor from Texas will know the ins and outs of state laws and help you to better understand how to get a good deal in Texas. Local knowledge is especially helpful if you are from out of state and need to find a place to live fast. Don’t let hastiness affect the quality of the property you buy.

If you are looking at new homes then picking a local realtor is especially important. A local realtor will be able to point you towards building companies that have good reputations. You can avoid plenty of bad apples with the right realtor.

Texas has seen its share of economic success and for a long time Florida was the focal point of the real estate market both real and imagined.  Wanna buy some swamp land in Florida?  In the last 20 years or so that real estate prosperity has shifted from the Eastern United States to the Western United States.  Las Vegas has been recognized as one of the fastest growing cities in the United States in the past decade and Southern California has always been a spot for real estate investors to make their fortunes.

But there is one area that has been seeing a steady rise in real estate property values over the past couple of decades and has gone largely unnoticed.  Seattle real estate has increased in value steadily for some time now and as Seattle real estate continues to increase in value as Seattle continues to grow it remains as the best kept secret in real estate.

Back in the 1970’s the Boeing Company was just coming into its own as one of the premier manufacturer’s of commercial and military planes. At that time Seattle did not have the sprawling downtown with its majestic buildings that it has now. The tallest structure in Seattle was the Space Needle from the World’s Fair and it remained that way for many years.  But soon talented and young engineers were settling in Seattle to work for Boeing and Seattle real estate started to take off. Downtown Seattle real estate became prime land and more and more businesses began to realize the many advantages to investing in Seattle real estate.

Smells Like Real Estate Prosperity

In the late 1980’s and early 1990’s Seattle started to become known for more than just Boeing.  The grunge rock scene started in Seattle and soon Seattle real estate became even more coveted.  Soon record labels were setting up shop in Seattle and musicians and artists were pouring in from all over the world to try and make it big in show business.  Once again Seattle real estate took off and it has not stopped.

Boeing has since announced moving most of its offices out of Seattle but with major international corporations such as Starbucks still headquartered in Seattle it looks like Seattle real estate will just keep on rising in value for the foreseeable future.

Notable Neighborhoods

Columbia, Core, Gaslamp Quarter, Horton Plaza, East Village, Cortex Hill, Little Italy, and Marina are the eight neighborhoods that make up downtown San Diego.  Part of the reason why downtown San Diego real estate is so popular in these areas is the recent revamp in attractions.  For example, there is the Seaport Village shopping center that has food courts, unique shops, and a place to spend time with family.

The Gaslamp District is composed of Victorian style buildings that include restaurants, nightclubs, antique stores, and bars.  Horton Plaza is the most visited neighborhood in San Diego, probably because it contains Balboa Park, which is the home of the incredible San Diego Zoo.  The San Diego Zoo is one of the largest and most remarkable zoos in the world, with over 4,000 animals and more than 800 different species.

Properties in downtown San Diego are also very popular because the neighborhoods are surrounded by many major hotels.  If you have guests come to visit or you’re planning a very big occasion, you want to be in close access to these hotels.  They have the biggest names like Marriot, Pan Pacific Embassy Suites, and the Hyatt.  Among the real estate in San Diego, there is a very convenient transportation system.  People use trains, trolleys, buses, taxis, and bikes alike.

San Diego Real Estate Prices

San Diego real estate has a wide array of prices.  You can find smaller homes for as little as $270,000 and the price can rise as high as $3,000,000.  The average price for an attached two bedroom home in San Diego is $395,000.  This is slightly expensive for two bedrooms as you can find four bedroom homes for the same price in other states and cities.

However, among San Diego real estate, these prices are cheap.  If you’re going to buy a detached home, you can expect to pay about $700,000 for a three bedroom home.  There are a growing number of detached homes and condominiums in downtown San Diego.  Homebuyers and investors are going to start to take advantage of the revamp of new real estate.

San Diego Real Estate Prospected Future

The new life that has been breathed into San Diego real estate is good for buyers, sellers, and investors.  The market does not look like it is going to slow down anytime soon.  Before you invest in any type of real estate, check the demographics, statistics, and general information about the area.  You never want to make big real estate decisions without doing your research.

Finding Solid Residential Real Estate Investments

The best place to find really good and profitable residential real estate investments is in foreclosures.  Luckily with the increased rate you now have plenty to choose from and banks that are willing to take unbelievably low amounts of money for those properties.  While some foreclosures will be total disasters and must be avoided, you can find some really good residential real estate that is very cheap if you are willing to look.

The first thing you want to make sure of is that before you go forward you have multiple options.  If you find a property you really like and want to invest in, take some time to find a second before purchasing the first.  Always have a back up as you never know what the inspection, appraisal, or closing process will bring to light.  This way you always be ahead of the curve for getting started on another property.  If the first one turns out great then you do not have to worry about the second and everything is peaches and cream.

Second, before making any offer to the bank make sure that you have done all the needed research.  Once you put in a bid you are going to be committed to that price and any dealings with the bank will go from there.  In general it is very tough if you have to go back to the bank with a second lower price based on later discoveries, so try to find out as much as you can about the property before hand.

There are plenty of free websites out there that can help you with this research so take advantage of whatever you can.  Also, if you have friends who are realtors they can help you quite a bit.  Getting acquainted with appraisers and home inspectors if you intend to do this multiple times is also a very good idea.

The most important thing to remember is to always go with your gut.  If you have a bad feeling about a residential real estate property do not be afraid and prepared to walk away.  Many times these initial instincts will prove to be correct so listen to what your heart tells you.

Real Estate Value – The 60 Second And 60% Rule  

A home has 60 seconds to make a lasting impression on the potential buyer, so make it a positive one. Experts agree that 40% of the buying decision is determined when the potential buyer first drives up and gets a glimpse of the house from the curb. Another 20% of the buying decision is made when the potential buyer first enters the house; in other words 60% of the decision to buy or not to buy the house has been made right after the prospective buyer enters the house. That should tell you that 60% of your time preparing the house for sale should be concentrated in the front of the house and in the area as you just enter the house

Most potential buyers are looking to get excellent value for real estate they invest in and are looking for an uncluttered home with a free-flowing floor plan, and bright, clean interior.

Real Estate Value – Tip Top Condition

Make sure you pay special attention to the front yard: cut and trim the grass, trim trees and shrubs, plant colorful flowers, and paint the exterior of the house, if needed.

Real Estate Value – Remove Clutter 

It is recommended that you open up all tight traffic areas and remove some furniture from the home to make it look larger. Change the light bulbs to the maximum wattage allowed, and open all drapes, shutters, and shades. If you are going to repaint the interior of the house then use white, this gives the potential buyer a canvas to work with.

Real Estate Value – Appeal To The Buyer’s Senses 

You must make sure there are no offensive odors in the house because nothing turns off a potential buyer like a bad smell. If you are going to have an open house, then turn off the TV, turn on some soft music, and make some fresh smelling cookies or bread.

Real Estate Value – Exposure

Pure mathematics suggest that, the more potential buyers that tour your home the better chance you have to sell it at top dollar. Make sure your marketing plan includes listing your home on the internet both locally and worldwide. Professional flyers and brochures distributed in the neighborhood is another excellent way to give your home exposure.

Real Estate Value – Don’t List Too Long 

If your home has not sold in a reasonable length of time, then take it off the market. A house that stays on the market to long, goes stale, and then will sell for a lower price. It is better to let the market correct itself, then relist.

With a full time job it can sometimes be difficult to find the time to go back to school and learn a new skill. That’s why a distance learning real estate school is perfect if you would like to get your real estate license while working at your current job.

Low Cost

Distance learning can be much cheaper than enrolling yourself at a real estate school physically. You don’t have to leave the house to go to classes and you can work your timetable to suit your schedule. There are now many online real estate schools that will give you classes for free or at cost that is very affordable. Usually these classes work to supplement any real estate training that you have had.

Accreditation

Whatever real estate school you go to you want to make sure that it is accredited. Otherwise you will have wasted both your time and money and may find yourself very discouraged. To avoid this happening to you make sure that the real estate school you choose is state accredited.

You can do this by checking your local regulatory agency. The Association of Real Estate License Law Officials will have a directory of local regulatory agencies and will point you in the right direction. Different states have different laws about online real estate schools so check that this is allowed in your state before enrolling.

All In One Schools

If your state has post-licensing mandates then you might want to choose a school that provides pre licensing, post licensing, and continuing education. This will keep you up to date and you can do many of these courses online or via distance learning. Take advantage of such a school and you will find that you real estate career is off to a good start.

You might also want to look for schools that will offer you a refund should you fail your state licensing exam. Another way to choose your course or school is to make sure that classes fit with your schedule, for example weekends and evenings. Looking for a school with real estate broker education is also a good idea, though some states require work experience before qualifying as a broker.

True you will have to pay the agent a commission but this is a small price to pay when you think about all the work that goes into selling a house. You are saved a lot of time and worry. The agent’s job is to get you a buyer and with the right real estate sales agent you are guaranteed to have a buyer.

An Agent’s Function

The first thing that a real estate sales agent will do is find you prospective buyers. An established agent will have a large pool of buyers and an experienced real estate sales agent will be able to quickly narrow down the list of buyers to ones who have the most potential for your property.

Depending on where your home is and how much you are asking for the agent will be able to help you find the right buyers. A key part to a real estate sales agent’s job is to negotiate. Negotiation can be awkward if you are not experienced.

A common complaint of first time sellers is that the buyer is giving an offer that is so low it seems insulting. A good agent will smooth over this bump and help both buyer and seller reach an agreeable price. Often buyers are willing to offer a higher price, the initial low price is an offer they are hoping you will go for but it doesn’t mean grounds for stopping all talks.

Real estate sales agents are also knowledgeable about state laws and zoning laws. All of these are useful things to know when selling a house, especially since this information can be hard to come by. An agent can easily advise you on the laws in your area concerning house ownership.

An agent can also help to protect a buyer when reaching agreements. For example an agent is responsible for ensuring that the seller carries out termite checks on a property. Anything that was stated in the contract signed by buyer and seller must be carried out before payment and the agent will see to this. In short having an agent can help you reduce a lot of the stress that comes with buying and selling a property.