Real Estate Investing Facts

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Hans Anderson

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“Any idea that is held in the mind that is either feared or revered will, begin at once to clothe itself in the most convenient and appropriate physical forms available.”

Andrew Carnegie

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California Association of Realtors August 2009

Effective immediately, title companies may be eliminating much of the information they provide on property profiles. The California Department of Insurance recently issued a letter taking the position that title companies may only give the following information on property profiles:

* Names of owners of record of a specified real property;

* Description of real property; and property characteristics as defined under section 408.3 of the California Revenue and Taxation Code, which means year of construction of improvements, square footage, number of bedrooms and bathrooms, number of units, acreage, and other attributes or amenities (such as swimming pools, views, zoning classification or restrictions, and use code designations).

The Department further indicated that its position was based on existing law and unrelated to SB 133, the Title Industry-sponsored bill that greatly restricted promotional activities to licensees and became effective this year. C.A.R. disagrees with this position and is aggressively working to persuade the Department of Insurance to reconsider in light of the legislative intent language of the older law on which the decision is based.

Meanwhile, REALTORS® will likely encounter a title company’s refusal to provide free of charge any other information, such as recorded documents, sales comps, tax bills, or demographics. This type of information is still available through other sources, such as county recorder’s offices, tax assessor’s offices, and governmental and public record websites and private services for a fee. Clients may also have their own copies of some of the documents. In response, C.A.R. is proactively seeking to provide REALTORS® with a viable solution to this situation, by exploring legal and legislative options, as well as the possibility of providing new member services or benefits to lower the cost of obtaining the information.

Get started today, without any of your own cash or credit. The Perfect Storm is forming. Foreclosures are plentiful, Housing is bottoming, Buyers are back. Learn how to make honest and ethical profits right now.

Foreclosure Investing

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So, you’re about to put your house on the market?

You’re probably well aware of how important presentation is when it comes to making your property appealing to perspective buyers.

A property will attract much more interest if it shines above other comparable properties on the market. However, if you’re like me, you are understandably weary of investing too much time and money into a house you are looking to move quickly and sell for maximum profit.

What if I told you that it was possible to make a property
attractive to would-be buyers without investing in expensive and time-consuming renovation and redecoration?

Curb Appeal

That first impression when prospective buyers drive up is very
important. If they don’t find the outside appealing, they won’t be interested in seeing what’s inside.

The Yard

Mowed lawns, trimmed shrubbery and clean windows are a start. Planting a few flowers or plants can do a lot to a front yard. Fertilize and water the lawn and plants thoroughly 2-3 weeks before putting the house on the market. Clean up oil spots on the driveway. Make sure the garage door opens easily.

Swimming pools should be clean along with the pump and filters. Clean up and throw away any junk or items lying around the yard. Now is a good time to have a yard sale, get rid of those items that you don’t plan to take with you. Do this before you put your house on the market to greatly reduce the “detrimental clutter look”. Start packing away little things that you don’t use everyday. Recycle magazines, newspapers, bottles, cans and so on. Pet droppings can easily turn the buyer back to the front door.

The Exterior

If your house could use a paint job and you don’t have the time or money, some times hosing it off (from the bottom up) and repainting the trim will update the entire facade. At least paint the side facing the street. A clean front porch with a fresh looking front door that opens smoothly is a must. Any broken windows should be fixed now as they will most likely be before closing. A few gallons of stain or paint can add real impact to a fence.

The Interior

Inside, everything should be spotless. Spending $100 to have
someone do heavy “spring cleaning” if needed can bring a return many times over in the sales price and time on the market. A fresh coat of light colored paint on the walls is
always recommended. Painting only the trim and the doors will add a lot.

Check to see that all doors open and close freely. Oil any squeaky doors. Replace any burned out light bulbs. Brighter lights enhance many rooms.

Steam clean the carpets if new carpeting is not possible and to help eliminate any pet odors. Wash and wax linoleum floors. Repair or replace damaged or missing tiles.

Bathrooms should sparkle. Remove soap scum and mildew. Replace old looking toilet seats.

Kitchens should be clean and bright. Clean oven and stove top. Exhaust fans should be free of grease and dust. Clear all
unnecessary objects from the counter tops.

Keep curtains and blinds open and interior lights on for a bright
warm cozy feeling. Store stuff and clutter under beds, not in
closets.

Focus Rooms

Buyers react most strongly to kitchens, bathrooms and closets, so it pays to concentrate your efforts here. Sometimes just switching door handles, knobs, and light switch plates is a dramatic improvement. Replacing new shower curtains and sink faucets can pay off.

Tip

Preview the competition’s open houses to see what you are up
against in both pricing and condition. Potential buyers will be
previewing these and more.

In General

Lockbox is #1 Importance. If we don’t have it, agents won’t show it.

Many times you will watch home shows on television and see
so-called experts advising sellers that their house will not sell
without costly renovations and changes to the interior and exterior décor. This advice, while sound, assuming that one has money to play with, is not a requirement. Even the simplest things can enhance the appearance of a home and attract perspective buyers. It’s just a matter of looking at the house “through the buyer’s eyes”, while being practical and realistic in terms of what you can afford, both financially and time-wise, to improve.

To Your Success!

Aiden Win

Mr. Foreclosure

P.S. If you like cheap properties, sometimes available
significantly lower than market value, check out the Foreclosure
Insiders Club to access a list of pre-foreclosures in your area.
Join today to stay one step ahead of other investors and realtors in your area who don’t have access to this information! The Foreclosure Insiders Club is your inside track to KILLER REAL ESTATE DEALS!

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Learn More at The Truth About For Sale By Owner

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A total of 336,173 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported in June 2009, a 5 percent increase from the previous month and a 33 percent increase from June of 2008, according to RealtyTrac’s U.S. Foreclosure Market Report.

Foreclosure filings were reported on 336,173 U.S. properties in June, the fourth straight monthly total exceeding 300,000 and helping to boost the second quarter total to the highest quarterly total since RealtyTrac began issuing its report in the first quarter of 2005. Foreclosure filings were reported on 889,829 U.S. properties in the second quarter, an increase of nearly 11 percent

Some of the key findings include:

• A total of 101,045 California properties received a foreclosure filing in June 2009.

• Florida documented 52,899 properties received a foreclosure filing in June 2009.

• Arizona’s 16,834 properties received a foreclosure filing in June 2009.

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Foreclosure Information

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