Friday, May 23, 2008

Buying Foreclosures

Investing in foreclosure property is a great way to set up another stream of income. Many people decide to invest in a foreclosure property so that they will have some additional money coming in each month. But before you start looking for a foreclosure property to invest in, you will want to make sure you know what to look for.

Assessing a foreclosure property can sometimes be the most difficult part of the buying process. It is during this stage that you will decide which property is best for you, and how much money you think you will be able to make. Remember you make your money when you BUY.

When assessing a foreclosure property the first thing that you want to do is find out how much the repairs will be before you can re-sell it, or set it up as a rental property. Every dollar that you have to put into the home will cut back on the amount of profit. If you are not skilled enough to make an accurate assessment in this area, you will want to get a contractor to look at the property. They will be able to give you an estimate of how much the repairs are going to cost.

After assessing the repairs, you will then want to figure out how much profit you think you can make on the home. This may seem difficult, but you should be able to make an educated guess without many problems at all. The first thing that you will need to do is factor in all of the repair costs. After that, if you plan on renting the home, you will want to get an idea of how much rent you can charge per month. This will give you an idea of your monthly cash flow. You can then take this number to calculate the amount of time that you will need to make back your initial investment and start profiting. If you are going to be reselling the house, get an idea of what the market value is on the home. This can be done by checking out similar homes in the area. You can easily get CMA (competitive market analysis) free from myself or your local Realtor. After you have done this, you should be able to calculate your profit.

Investing in a foreclosure property is a great way to make some extra money. Who knows, you may find yourself buying a second property before you know it.

When you build bridges you can keep crossing them.

Sunday, May 18, 2008

Your Home Value: Principles of Valuation

Principle #1 - CostThis is the amount actually paid for a property plusany capital improvements made since the purchase.
Principle #2 - Asking PriceThe stated amount an owner is willing to acceptfor a property.
Principle #3 - ValueThe amount a buyer is willing to pay given todaysmarket conditions.
Principle #4 - Market ValueThe amount that will bring a sale between a willing buyerand a willing seller. It is based on the history of similarproperties recently sold in the area as well as propertiescurrently available for the buyer to choose.
Principle #5 - Regression and ProgressionThe effect that surrounding home sizes have on the valueof a subject property. Regression is the decrease in valuewhen surrounded by smaller homes. Progression is theincrease when surrounded by larger homes.
Principle #6 - SubstitutionSubstitution refers to the actual value of an amenity. Valueis determined not by the cost invested in a property, but by thevalue derived from it.
If you would like a free no obligation consultation onhow to market your property, contact me.
Thank you for your time,

Have you had your annaul Termite Inspection!

BUG-OFF Termite & Pest Control Services recommend that homeowners have termite inspections on their homes annually, even if they don’t see any signs of termite damage. Homeowners should look at termite inspections as preventive maintenance. It is easier and less expensive to repair minor damage than it is to wait and suffer more serious & expensive structural damage to your home. Don’t let termites destroy the equity you have built up in your home and property!
Termites are responsible for billions of dollars of damage to the nation’s homes and other buildings every year. Because termites do their dirty work under the house, in walls and in other areas that are not readily seen, most homeowners don’t realize that they have termites. Homeowners may not become aware of the problem until they decide to sell their homes and a termite inspection is conducted. Repairing the damage done by termites and other wood-destroying insects could cost anywhere from a few hundred to thousands of dollars. Termites live in underground colonies and work 24-hours a day to destroy your home from the inside out. Termites can live in your home for several years with very few signs of activity.
Most homeowners’ insurance does not cover the cost of termite damage or other wood-destroying insect damage. Termite damage is found in about 25% of the homes inspected. That figure rises to about 50% in homes that are more than 20 years old and that have not had a recent termite inspection.
BUG-OFF inspectors look for tell-tale signs of termites, such as termite damage and shelter tubes along the foundation. Sometimes termite inspectors will see piles of discarded wings, a sign that the termites have transitioned through the swarming stage, when the king termites and the queen termites fly from their old colonies to start new ones – possibly in your home!
From Their Home to Yours
Don’t make a move without BUG-OFF Termite & Pest Control Services, for your “peace of mind” and ongoing home protection. The most expensive choice that some homeowners make is to choose to do nothing at all! Remember – termite prevention is cheaper than the cure!
Termite Inspection and Pest Control Services provided by Bug-Off. We help homeowners in Baltimore and surrounding counties to protect and maintain the market value in their homes, by conducting annual termite inspections. Wood-destroying insect detection may prevent extensive and costly structural damage to your home. Don’t let termites eat away the equity you have built up in your home and property! For the ongoing protection of your home’s equity, value and your “peace of mind”. It is very important to have an annual home inspection for termites and other wood-destroying insects. To get a free termite inspection estimate and save five dollars Click here or Call Bug-Off today.
Buying a house? Get a termite inspection!
If you are buying a home, the last thing you want is an expensive surprise don’t take chances……Before investing in a house in Baltimore Metropolitan area, be sure to have a termite inspection by our certified termite inspector. BUG-OFF Termite & Pest Control specialists can do a pre-purchase termite inspection for the house you wish to buy and we will give you an unbiased termite certification report on site.
Choosing the right termite inspector can be very difficult. Different inspection companies have varying qualifications, experience, training, reporting methods and yes, different pricing. One thing for sure is that a thorough termite inspection takes time, a lot of time depending on the size and complexity of the home inspected. Ultimately a thorough inspection depends heavily on the individual inspector’s knowledge, training and experience.
When you choose BUG-OFF Termite & Pest Control Services for your termite inspections, termite inspection reports and termite treatments you can be confident that you are receiving the quality service you expect and deserve from the termite & wood-destroying insect specialists you can trust.
BUG-OFF technicians are certified wood-destroying insect specialists with over 30 years experience and training in recognizing and treating signs of termite damage and other wood-destroying insect activity and damage in homes, garages and other structures. Our specialists have been inspecting and protecting homes in Baltimore, and the surrounding counties from termites and other wood-destroying insects for over 30 years. We attend annual professional workshops and special training, sponsored by the Maryland Department of Agriculture and the Maryland Pest Control Association to receive standard of the industry training in termite inspection, detection, and termite treatment.