Mobile Home Park Investment Money Trees

Mobile home parks are the scapegoats of the commercial real estate investment world. Perhaps one of the reasons why most investors ignore this lucrative asset class, other than for obvious eye sore reasons and the negative connotation associated with mobile home parks, is because they believe it requires too much up front cash and a personal income statement well above their means. This might be true if you were trying to finance your property through a large bank, however many mobile home parks are purchased with much less than 20% down and with little financial reserves in the bank. These parks are purchased through owner carried notes.

Small to medium sized park owners are typically older gentleman that have been running or overseeing the managers of their respective parks for a long time. Many of them are tired of this responsibility and would love to have someone like them come and take the park off their hands. Furthermore, some of these same owners prefer doing business the old fashioned way (without bankers / real estate brokers breathing down their neck, charging large commissions and inundating them with paperwork). In other words, a large percentage of mobile home park owners would rather take some initial financial consideration, make a nice profit each month off the interest on their note and not worry about the day to day issues of running a park. Additionally, many do not want to deal with a several hundred thousand to million dollar tax problem if they sell the park outright. Sure they could 1031 it into something bigger; but then they?re in the same boat as before. Sorry loan officers out there but investors should ALWAYS, ALWAYS shoot for owner financing in your mobile home park purchases.

Investing in mobile home parks is an absolutely beautiful thing. Not only is it a long term land play, but you have NUMEROUS ways to make money through your park. As opposed to investing in single family homes it is actually very difficult to NOT achieve positive cash flow each month. This is due to the following reasons:

1. The parks are usually in a less than favorable part of town. Therefore the land is cheap and you will be spreading that cost over numerous mobile homes.

2. Provided you purchased the right mobile home park, there will be vacancies and their will be a few spaces for you to bring in extra mobile homes. (Yes, that?s right?.you want at least half the park to be vacant when you purchase the property as that fact will kill the sellers price and ensure that you end up buying a screaming deal.) You?re healthy, sharp and full of energy so you?ll improve the quality of the park, raise rents and maximize your rent roll. By the way this will immediately increase the value of your mobile home park through cap rate valuation. Net Operating Income (not including cost of financing) / cap rate.

Example

30 Space Park, $300 a month Rent Roll (50% Vacant) = $54,000 yearly rent

$54,000 ? 16,200 (30% of rent goes towards Operating Expenses) = $38,000

$38,000 (N.O.I.) / 9.0 % (cap rate) = $422,222 (Your Purchase Price)

Your up side:

30 Space Park, 100% Occupancy, $320 a month rent roll = $115,200 yearly rent

$115,200 - $34,560 (30% park operating expenses) = $80,640

$80,640 (N.O.I.) / 9.0% (cap rate) = $896,000 ....I would sell at this point :)

3. If cash flow is low you can add additional revenue by putting in a coin operated laundry mats, adding vending machines, arcade games, day care services, etc.

4. Lastly, you should have purchased a park that came with owner rights on the mobile homes themselves. This will enable you to be extremely creative with how you fill your park with people. Far and away the best tactic is to Lease option your mobile homes instead of renting them. Home ownership is the American dream so when you advertise ?Own your own home, $3000 down, low monthly payments ? Bad credit OK, call Boca Vista Mobile Home Park? Your phone will ring off the hook, trust me. From there you take their down payment and have them sign your lease option paperwork that details the term of their loan with you. So why sell them one of your mobile homes?.isn?t that an asset to the park you ask? Yes, but:

A. Now you have someone in your park that has pride of ownership and will most likely take better care of the mobile home than most people would.

B. Because they technically own the rights to the mobile home, you are not responsible for costly maintenance.

C. Due to the interest on his loan, this person will pay you more each month than anyone renting a mobile home in the area.

D. If he/she gets promoted or saves up enough cash to pay the remaining balance (this almost NEVER happens by the way) then you make a substantial amount of money because due to serious demand issues, you can sell these homes for much more than they are worth.

E. Most of the time, the person will be late on a payment or two and will flee during the middle of the night. In that case, the property is 100% yours again, you?ve pocketed the $2000 option payment and you start the process over again.

Corey Donaldson is a professional mobile home real estate investor, owning numerous multi million dollar parks across the nation. He began investing in mobile home parks after purchasing a mobile home investment guide from Steve Case, who has since gone into business with Corey.

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Atlanta Real Estate Trends

It is believed that the greatest boom in the Atlanta real estate is yet to happen. An increased growth in population and rate of employment in Atlanta has caused the value of the real estate market to escalate continuously. The real estate prices are comparatively reasonable in Atlanta as compared to other large metropolitan areas. For example, a two-bedroom condominium in New York will cost you more than one million dollars, while Atlanta offers the same type of property for $250k to $300k.

The rapid pace of development of Atlanta has made it a center of many industries. This has led to an oversupply of commercial buildings, thereby decreasing the value of commercial properties. Assessment based on the supply and current vacancies has shown that Atlanta markets are more vulnerable to overbuilding. Atlanta has comparatively low mortgage interest rates. Federal environmental regulation or the tax reforms put forward by the state or the nation can also influence the Atlanta real estate trend.

Timely analysis conducted by credible industrial experts on different aspects of Atlanta real estate will help you to foresee changes in the market. Many experienced real estate professionals who know the Atlanta market are there at your service. They can represent your interests with integrity, character, and honesty. It is highly recommended that you get the property inspected before buying. If something turns up during the inspection, you have the right to negotiate a repair or remedy.

Atlanta posted one of Southeast's highest office sale prices recently when an investment management company paid $168 million ($330 per square foot), for an office building. The standing record in Atlanta is $343 a square foot for a building, according to the Atlanta Business Chronicle.

Atlanta Real Estate provides detailed information on Atlanta Real Estate, Atlanta Real Estate Agents, Atlanta Commercial Real Estate, Atlanta Real Estate Listings and more. Atlanta Real Estate is affiliated with Chicago Suburb Real Estate.

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Licensed Real Estate Agents

Better government policies, increased salaries, and easily available mortgages have improved consumer purchase capacities despite inflation. People would rather pay for their own property rather than opt for rental properties. Many people have also been purchasing property as an investment. Such a situation has proved to be good for the real estate business. Clients could avail of services of licensed real estate agents when contemplating acquisition, sale, rentals or lease of property.

Licensed real estate agents are certified professionals who are experienced in real estate trading. Licensed mediators possess comprehensive knowledge about property they deal in and are well versed with the legalities of real estate deals. Licensed agents are qualified to answer queries associated with property overheads, assessments, and intention of trade. They are conversant about property sizes, repair costs, legal restrictions, and reconstruction of property, if any is necessary.

It is advisable to verify credibility, success rate, and charges of an agent when considering a particular licensed real estate agent. Comparisons between listed professionals help locate agents who are affordable and suit individual needs. Licensed real estate agent listings can be found in the yellow pages, at local estate firms, and online. Clients may also choose to hire professionals that have worked with family members, friends, or acquaintances. Licensed agents may work as salaried employees at real estate firms or may be self-employed as private brokers. Agents working within a larger organization may be salaried employees but are liable to receive additional commissions based upon the volume of business they bring in.

Potential clients may choose to communicate with licensed real estate agents prior to hiring them. It is advisable to clarify details regarding service charges, expenses, and time required for a deal in advance. Licensed real estate agents can provide valuable information regarding mortgage types to potential clients who may be in favor of outright purchases. In addition, they may suggest names of banks and financial institutions that could provide funds upon presentation of testimonials. Apart from operating as mediators between clients, they may also be empowered to negotiate on their behalf if one party is not present at the time of closing a deal.

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Home Selling Strategies for a Normalizing Market

After a solid five year run of record home sales, the market is readjusting itself to a more normal level. Most of those who wanted to move have moved. Interest rates are rising again, lowering the upper end ceiling for buyers overall. With buyers qualifying for a lower mortgage today than they might have a year or two ago, the buyer pool for higher priced homes is shrinking. The large inventory of homes currently for sale is resulting in an overall downward trend of housing prices. With increased choices, buyers can be more choosy and take longer to make their decisions. As a result, longer market times may caution a buyer away from a property.

There are three important factors for selling your home in today?s market: condition, price, and time.

Condition reigns supreme over anything else. Buyers have so many choices right now that anything that looks like it needs work can be enough to kill your chances of selling. People prefer move-in condition, so if your property isn?t, you probably need to do what it takes to make it that way. It is worth the money to remove old wallpaper, paint, replace carpet, and replace the roof if it?s almost at the end of its life. Offering an allowance doesn?t work in these market conditions because buyers tend to overinflate the costs of these improvements, anticipating double or triple what it will actually cost you. Plus, with the number of homes for sale, if yours is the one that needs to be painted, chances are it?s also the one that won?t sell. There are exceptions, such as homes that need a complete overhaul, so it?s a good idea to discuss your home and your plans with your listing agent before getting started.

A word about home improvements ? consider improvements as solidifying your home?s value rather than increasing it when deciding on a price range. The kitchen you recently renovated or the room you added may help your home sell more quickly than the one down the street because it?s in better condition, but it won?t necessarily increase your home?s value. If you?re not looking to sell your home right now, spending the money on upkeep and maintenance now can help you avoid needing to spend a lot all at once when it is time to sell.

The second factor is price. You want to have the best price on the market. That doesn?t necessarily mean the lowest price, it means value. It?s a good idea to price your home aggressively because there are so many options available. If there are 40 homes for sale in your price range, you want your home to stand out as the best home for the money.

Misperception or misunderstanding of the current market conditions can lead to improper pricing which in turn can lead to excessive market time or even no sale at all. What you paid for your home or what your neighbors sold their home for last year are irrelevant when deciding on your asking price. Factors you and your Realtor should consider are your home?s current condition, the condition of other homes for sale in your price range, the asking price of homes similar to yours, and which homes are selling and which are not. Accurate pricing from the outset increases the likelihood that your home will find the right buyer quickly. The first three weeks on the market are the most important ? that?s when people are excited to see the new kid on the block. A strategy of starting on the high end and then lowering it over time is rarely successful in a normalizing market. By the time the house is where it should be, interest has peaked and buyers have moved on.

Finally, accept that it still takes time. There are only so many buyers out there and they have a lot of choices. Average market times have been three to four months, so your goal is to reduce the selling time by carefully preparing your home and improving its condition plus adopting an aggressive pricing strategy. Then you just need patience and faith that the right buyer will see your home and decide that?s the home for them.

Everyone?s situation is different, so be sure to discuss your situation with your Realtor and decide on the best strategy for your needs. Today it takes twice as much work to be the best value in your neighborhood. Hard work and diligence can pay off.

Today it takes twice as much work to be the best value in your neighborhood. Hard work and diligence can pay off.

Shawn Buryska is a realtor in Rochester MN, specializing in home real estate, buying a new home, selling your old home, or helping you search Southeastern Minnesota MLS Listings.

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Protect Yourself with a Home Inspection

Home inspection plays a very important role in the real estate process. When you are buying or selling a home, you rely on a home inspector to provide an accurate and reliable inspection of a property. A home inspector will tell you about the condition of the home and help you avoid buying a home that needs major repairs. It is the perfect way to get an in-depth and impartial opinion of your next home before you buy it.

What to Expect

Typically, you will hire a home inspector either immediately before an offer is made on a home or as a contingency to a sale. Additionally, home inspections are ideal if you want to evaluate your home's condition or diagnose potential problems before they become serious issues.

Home inspectors perform the following duties:

-Evaluate the physical condition of a property, including the structure, construction and mechanical systems.

-Identify the items that should be repaired or replaced.

-Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure, and finishes.

Although inspections are primarily visual, inspectors may use tape measures, survey instruments, metering devices, and other equipment, such as concrete strength measurers, to aid in their inspection. They keep a log of their work, take photographs, and file a formal report.

The inspection usually takes two or three hours (depending on the age and size of the home). You should be present so you can ask questions and learn about areas that need additional work. All of the findings will be presented in a formal report that details the condition of the home.

A Close Look

The main purpose of the home inspector is to provide an objective viewpoint on the condition of a specific home at the time of inspection. The inspector does not evaluate the cost or value of the property, but provides a close examination of the following:

Structural Components: Foundations, floors and walls.

Exterior Components: Siding paint, windows, decks, garage doors, etc.

Roofing: Coverings, flashings, chimneys, etc.

Plumbing: Piping, fixtures, faucets, water heating and fuel storage systems, etc.

Electrical: Wiring, main service panels, conductors, switches, receptacles, etc.

Heating: Equipment, safety controls, distribution systems, chimneys, etc.

Air Conditioning and Heat Pumps: Cooling and air-handling equipment, controls and ducting, etc.

Interior: Partitions, ceilings, floors, railings, doors and windows, etc.

Insulation and Ventilation: Attics, walls, floors, foundations, kitchen and bathrooms, etc.

They will additionally perform the following services (sometimes for an extra fee): mold sampling, radon testing, asbestos evaluation, pests/wood destroying organisms, carbon monoxide testing, lead testing, and more. These services are not always available.

Make sure to protect your investment. Get a home inspection before you buy your next home!

http://www.realestatelicense.com http://www.homeinspectioncourse.com

Heather Brunson is a lead marketing writer for Allied Schools. She has a B.A. in Journalism with an emphasis on public relations. She has additional experience in technical writing.

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Marketing to Realtors: Create a Power Position in Your Marketing Efforts

Every day a real estate agent receives several marketing attempts from loan officers. In fact, this information comes in a steady, unrelenting stream. It is no wonder agents have become adept at tuning out the static of these marketing attempts.

Your challenge is to find a way to differentiate yourself from all the buzz of other loan officers. You do so by establishing your marketing position.

Your marketing position is what defines your business. Take a moment to browse your competition websites. Does their marketing position look identical to yours? If it were not for their logo on the top of the page, could it basically be your website?

If the answer is yes, your marketing position is too close to that of your competition. You are competing with them for a place in your prospects mind, and chances are you are not winning the battle for first place.

Take a look at your business and what can you offer that nobody else is doing? If you feel stymied by how you could possible differentiate yourself from your competition, think about a couple of examples of businesses that have done a remarkable job of creating a marketing position.

Federal Express is a great example. They started a business with a position no other shipper occupied. They advertised was when it absolutely, positively has to be there overnight, they were there to do it.

Dominoes Pizza started their business by emphasizing that they would delivery a pizza within 30 minutes of the order, or the pizza was free.

Southwest Airlines have marketed themselves as the low-fare airline.

What special skill or niche could you develop and use in your marketing materials and what can you use to set yourself apart from your competition? When your services are similar to another loan officer, real estate agents will look for ways to differentiate.

The more your services are scrutinized for differences, the more important it is to give details about how you are different. You need to accentuate those details.

Prices and rates are not necessarily the kind of difference that gets you noticed. In fact, most often it merely gets you into a bidding war. You should instead find an unexplored niche and specialize your services around it.

You can develop a unique niche within a product line like HUD, ARMs or Jumbo Loan expert.

You can develop a niche around details of the process for example, loan approvals within an hour (or less), loans that close 5 days ahead of COE, daily email updates to agents.

You can position yourself around gender, ethnicity, geography or another demographic, specializing in exclusively serving the Hispanic community, single professionals, Town & Country Ranch, etc.

Spend some time thinking about what makes you and your business unique and then market to that position.

Jeff Nelson helps loan officers increase loan originations by attracting quality relationships with real estate agents from the development of customized relationship-building strategies. Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet. Visit us at http://www.loan-officer-marketing.com

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Palm Springs Real Estate

The Palm Springs area, consisting of well-established neighborhoods of desert area cities, is also known as the Coachella Valley in central Riverside County. Palm Springs nearly covers a geographical area of ninety-six square miles and is enriched with culture, history and a beautiful landscape. The shopping, entertainment, dining and recreational facilities provided for residents are world-class. In the past few years, the year round good weather, abundant nature and close proximity to Los Angeles have made it a popular destination for tourists of all ages. More and more people who are tired of the winter season are flocking to Palm Springs to take advantage of some of the pristine real estate still available in this beautiful area.

With a growing population and a growing number of tourists, Palm Springs continues to experience a bright economy. It has also resulted in a boom in real estate. Nearly 60% of Palm Springs area residents have moved into greater Palm Springs metro area in the last decade. Approximately 50 people move to Palm Springs each day, and with the attractive and rising real estate values and great interest in the area housing values are expected to continue to increase. Even with increasing property values, Palm Springs residential real estate continues to be affordable. The average price of a home in Palm Springs is $386,148.

Palm Springs has a population of approximately 50,000, with an average income of $69,000. The average temperature in January is around 58 degrees and 92 in July. The median age in Palms Springs is 45 with an average household size of 2.05.

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Mortgage Applications Down

Mortgage applications fell for the first time in four weeks as demand hit the lowest level in almost three years.

According to the Mortgage Bankers Association weekly report, the seasonally adjusted index of mortgage application activity for the week ended August 25 decreased 0.9%, landing nearly 23% below last year's level for the same week.

The decline remained consistent with the slowdown being seen in the housing market.

We're still in the soft landing camp for the housing market, explained John Shin, senior economist for Lehman Brothers. We do see a sizable impact on the economy and expect that the slowing housing market is going to trim roughly one percentage point off of growth over the rest of this year and the next year as well.

For the sixth straight week, home refinancing demand increased as a result of decreasing mortgage rates.

Last week, the 30-year fixed-rate mortgage rate averaged 6.39%, well below June's four-year high of 6.86%. However, they were well above last year's level of 5.73%.

Seasonally adjusted index of refinancing applications increased slightly for the week, up to 1,609.2 from 1,608.5.

The refinancing share of total applications increased to 41.5%, up from 40.6% the week prior. This marks the highest level since February.

Fifteen-year fixed-rate mortgages averaged a rate of 6.06%, up from 6.04% the week prior. The one-year adjustable-rate mortgage also saw an increase, up to 5.97% from 5.91%.

ARMs made up 26.8% of total loan applications, an increase from 26.4% the week prior.

The MBA's survey covers 50% of all US retail residential mortgage loans. Respondents include mortgage bankers, commercial banks and thrifts.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

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"The Time Value of Money"

The time value of money (TVM) is an investment principle that states money is valued greater today than in the future due to inflation and economic conditions. Essentially, a dollar in your pocket today is worth more than a dollar in the future because money may be invested and earn interest over time. The notion of TVM is money is worth more the earlier it is received.

If you loaned a friend $20, would you rather get the money back today or a year from now? You should want the cash today. Think back to the price of movie tickets 10 years ago. The price for a movie ticket at one point was just a few dollars and has risen to almost $10 due to the factor of inflation. By receiving cash today, rather than the future, you can invest the money into an alternate source and potentially receive a higher return for your money. Future value includes the amount of money you would earn through growth in your investments in the future assuming a given interest rate. It is what the cash is worth at a particular time in the future, while present value refers to the value of a given sum of money today. The same principle applies to real estate notes. A real estate note, a mortgage for example, is created with specific terms, conditions and a length of time for its return. In order to exchange the note for cash, a note?s present value is determined through a discount analysis to appraise its current worth, which will differ from the note?s value in 10 years.

To demonstrate TVM and why it can be more advantageous to have money now rather than the future, consider the following example. If you own a real estate note that is appraised at present value for $150,000 you can cash out now and spend the money, or you can invest in alternate sources for a higher return on your investment. By receiving the money today, you can avoid dealing with late payments and the risk of not receiving a payment at all. Immediate cash appeals to most much more than receiving money in the future. The following illustration of TVM shows the change in value of $150,000 over a year if invested with a rate of return of 10 percent.

Future Value = (Present Value) x (1 + Rate of Return)

Future Value = (150,000) x (1 + 10%)

Future Value = (150,000) x (1.1)

Future Value = $165,000

Understanding the time value of money is essential to achieving financial success, as this concept allows you to evaluate the potential value of money today in comparison to the future. When you talk about mortgages, loans, car notes and retirement funds, the practical knowledge of time value of money can help you accomplish the wealth you have longed for.

Maria Fee is a mortgage professional, real estate investor, teacher, and master marketer with more than 20 years of business experience. Maria is the President of REMI KNOX, LLC, a group of investors who purchase real estate notes nationwide. Quoted by the media as an expert, she is continuously recognized for her extraordinary knowledge and real estate investing experience. You too can discover hidden secrets to success with real estate notes. To take control of your financial future with proven strategies visit Maria's website at www.REMIKNOX.com. Happy investing!

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Pune Property : India's Best Buy

Real Estate prices have been galloping in India over the last few years.

Since 2003 prices in Bangalore have been steadily rising upwards. Property purchased at 400Rs per sq feet has risen to 1800-2000Rs per sq feet within a few years. This is a 400-500% increase in price. Similarly for Noida. A plot for constructing an independent house is not available in Noida today for less than a crore . Why does all this make Pune property attractive?

Pune has been in the Real Estate news for a little over a year. So it's essentially been overlooked vis-a-vis hot IT markets like Bangalore and Noida. Real estate prices are still realistic in Pune. In the Eastern suburbs, you can still buy plots in Kondhva for about 600 Rs. Builders like Nyati, Cloud 9, Clover Village are the major sellers for plots and row houses in this area.

In the Western Suburbs Hinjewadi is the place where all the Real Estate action is happening. This is mainly because of the IT Park situated here. IT majors Infosys, Wipro, Cognizant are already there. New players have been coming in every month. This has resulted in a boom for rental accommodation in this area and also surrounding areas like Aundh, Baner, Bhugaon, Pune University.

A definite lower cost of living, fantastic weather, a small insular city which makes travelling easy, an extremely young upbeat crowd all add to the Pune charm. Pune is just a 3 hours drive over the expressway to Bombay and is well connected by air, road and rail. IT companies are moving to Pune since it's being seen as an extremely 'livable' city. The best property all over India

David Thomoson, an associated editor to pune360.com , is a contributing author to the www.pune360.com for distinct article sites/journals. Please feel free to visit www.pune360.com for more information on Real Estate, property and classified issues Or write to him AT pune360@hotmail.com. Any comments and /or suggestions will be highly appreciated.

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Vote No on Proposition 90 In California

Do you live in a Mobile Home Park and rent a mobile home? Do you want your rent gauging stopped? Did you know that Rent Control Ordinances and the Mobile Home Residency Law could be lost if the initiative passes.

We the people that live in Mobile Home Parks must all unite and defeat Proposition 90. If we do not defeat Proposition 90, we the owners of our Mobile Homes are in a world of trouble.

We could lose our homes.

For more information on Proposition 90 - Go to Californians Against the Taxpayer Trap =>http://noprop90.com/facts/

There will not be any rent control and the park owners can raise the rent anytime, and any amount.

We the Mobile Home owners must speak out. Have meetings in your own individual park and discuss this matter. Make sure everybody in your park votes. If there are home owners who do not drive set up transportation for these people to get to the poles or make sure there book is filled out ahead of time and mailed.

Every vote counts:

We are the people Proposition 90 will affect. We must band together park to park and vote NO, on Proposition 90.

Thank you for reading my article. Please feel free to read my other numerous articles.

Copyright Linda E. Meckler 2006

Linda is the author of her first book, ?Ghost Kids Trilogy.? Christy, 12 and her Brother Brad, 16 moves into an old house on top of a mountain and meet two Ghost Kids. Become involved with all the characters and all the adventure and mystery. Then we have a mysterious, magical Blue Vase where Uncle Charlie the villain is trapped. He wants out of the Blue Vase and exchange he will tell Christy and Brad where Pirates? Treasure is Hidden. Take a walk with Christy and Brad down a dark hall hunting for Pirates? Treasure. You will think were you there right there with them. Love, Family Values and Charity burst off the pages. 4 E books to be added to my website soon. How To Appeal Medical Bills - Appeal and Collection Letters for Medical Providers - Boost Your Self Esteem and Blosssom - Computers Cause Pain. You can purchase Love My Hand Pad on my website www.lmeckler.com Check out my website http://www.lmeckler.com

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Closing Costs Explained for the Buyer and Seller

The fees associated with buying and selling a home documented in a sales contract are called closing costs. They are split between the buyer and the seller and often involve negotiation. Buyers apply for a loan and receive a good faith estimate that may not include all of the closing costs.

Buyer's closing costs include: the actual down payment, loan fees, points, appreciation and credit report, along with any pre-paid interest, inspection fees, appraisal, mortgage insurance, title insurance, and documentary stamps or note. Escrow fees, homeowners insurance, and legal fees can be included. These fees vary depending on the lender and the details of the sales agreement.

It is advisable to carefully review the estimated costs presented by the lender. If there are any questions before the actual closing, have the loan or title company officer clarify anything before making a final decision. As Americans borrow more than $110 billion a year to buy homes, these added costs and charges can add significantly to the purchase price of the home.

Sellers' costs as part of the closing include: the broker's commission, tax transfers, documentary stamp on deeds, and insurance and property taxes. Before the sale closes, the escrow officer will verify with the lender to ensure sure the existing balance for the loan has been paid. If the proceeds from the loan do not completely pay for the seller will need to pay for the remaining balance. Any additional deductions for the sale of the home (including buyer credits and concessions) are subtracted before the seller receives their share of the sale proceeds.

Negotiations for deductions can occur with minor or major costs. Property taxes are often prorated. They are usually paid at the end of the tax year. If the buyer has questions regarding some structural aspect of the home, including the plumbing, windows or electrical work, the buyer may request the owner to credit for the repairs. At this stage, even the price of the house could even become negotiable. A buyer could offer to pay the full asking price or more for a house in exchange for the owner covering the closing costs. The seller may offer to ?carry paper? or finance a portion of the sale for the buyer to ensure that the sale goes through. There is really no restriction for what can be covered by the buyer or seller, just as long as both parties involved are happy with the eventual outcome and the terms of the deal is written down.

It is a good idea to carefully review the good faith estimate well in advance of your closing date. You'll be better prepared to protect yourself from padded, inflated or abusive costs. If questions are raised during the earliest stage of escrow, you'll have ample opportunity to speak with the preparer about your concerns and have them explained.

Make sure that you are aware of basic closing terms. Loan origination fees are fees that cover the lender's processing fees for the loan, a percentage of the loan that varies from lender to lender. Points. A point is a one time charge for a lower interest rate. A point usually costs one percent of the amount loaned. A buyer can save money over the life of the loan by paying down one or more of these points, and the points may be tax-deductible.

Property Appraisal: A property appraisal is done for the lender to determine fair market value of the home. Inspection fees: are charged for homes under construction. A lender requires routine inspection for construction and release of funds as work progresses and concludes. Buyers are also responsible for prepaid interest that covers the mortgage from the first day of the loan until the due date of the first monthly payment. Hazard and flood insurance are paid a year in advance to cover the home and lender from natural disaster: fire, loss, windstorm and flooding.

Miscellaneous mortgage fees can include more inspections and an assumption costs. Inspection fees are generally handled before the closing date and can include an inspection of the home, radon tests, and pest or other specialized inspection fees. Assumption costs are for transferring the owner's mortgage into the hands of the new buyer. This is where reviewing closing costs are important because they can vary from state to state. Charges for home warranties are common. An attorney can handle a title search, apply for title insurance for you and a lender and complete the closing in some states. In other states specialty companies handle title work and closings are completed elsewhere. As this process can be cumbersome, it is important that you work with your REALTOR?, title officer and/or legal professional to handle ensure that all aspects of the closing are handled with the utmost of care.

Current technology has allowed the closing process to become easier, quicker. There are a plethora of fees a lender may charge depending on your location and the technology employed in the process. Notary and record fees would apply to have documents notarized and filed with public records. Overnight fees would result to send or receive documents and transfer fees for wiring incoming and outgoing funds.

Regardless of where and when you are buying a home you're closing costs will take a significant jump before they're finalized. The more educated you are about the process the better you'll be able to discern between valid or inflated costs. You'll be better prepared for that possibility. The awareness you've gained from familiarizing yourself with the process and establishing a relationship with your lending officer, REALTOR?, and closing agent will better prepare you for a predictable rise in closing costs and enough knowledge to point out inflated costs or at least ask questions to determine exactly where you stand.

Alex Peterson writes for ZipRealty. ZipRealty provides home buyers and sellers with an innovative real estate solution. By using the efficiencies of the Internet, ZipRealty has streamlined the real estate process and is able to pass significant savings on to home buyers and sellers.

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Minnesota Mortgage What to Expect When Buying a Home in Minnesota

Maybe you?re buying your first home in Minnesota, or perhaps you?re relocating to Minnesota from another state. Either way, it?s important that you educate yourself on Minnesota home loans before shopping for a home and mortgage. This article explains what you?ll need to know before buying a home in Minnesota:

The median price of a home in Minnesota is $122,400. The price of homes in Minnesota varies widely between zip codes. For example, in Minneapolis, Minnesota, the median price of a home in the summer of 2005 was $320,000; however, in Plymouth, Minnesota, the median price of a home was $214,000, and in Forest Lake, Minnesota, it was $225,000. Average interest and job growth rates in South Dakota are both below the national average.

Minnesota law prohibits the financing of points and fees on a mortgage that are more than 5% of the loan amount. Additionally, Minnesota limits the ownership of agricultural land to U.S. citizens and permanent residents, and corporations owned at least 80% by U.S. citizens and permanent residents.

The state of Minnesota does not regulate home radon levels. This means that home buyers must test for radon levels in the home they are purchasing and decide for themselves how much radon is acceptable in their home.

Jessica Elliott recommends that you visit Mortgage Lenders Plus.com for more information about Minnesota Mortgage Rates and Loans.

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Overseas Property Investment This Area Continues To Soar In Value!

Do you want to invest in overseas property but are worried about the risk?

In that case, you will be interested in the region below where property speculators have been making solid gains of 30 ? 100% annually for several years and prices look set to move far higher.

The region is:

Central Pacific Coast Costa Rica.

Were not talking about an area that could take off but has taken off for overseas property investment.

More gains are coming and we will give you the reasons in a bit.

Lets look at the gains first at if you want a second home a villa a condo or a retirement home in the sun gains here are fantastic.

For instance buyers who purchased $30,000 of property in the town of popular town of Jaco, 15 years ago are now worth more than $750,000.

Another example of great gains can be seen are at Marriot Corporation Los Suenos Resort, they pre sold condos of 2000 square feet for $250,000. The following year they sold more at $350,000.

Now this years top end units are being sold at $450,000 to $850,000 and there is not enough supply to meet demand.

So why will this area make more gains?

There are several reasons:

1. It?s an established community with huge foreign investment and this inspires confidence for more people to come.

Its not an area that may take off it has and with all areas that do, property booms can last for decades and this one looks set to go a lot further.

2. The area has easy access from the airport, superb beaches and beautiful national parks and is an area with great scenery,surfing and fishing.

3. Facilities, infrastructure and property are of a very high standard in an area popular with both foreigners and locals, the proof of a boom area.

4. Costa Rica remains the premier destination for US and many foreign buyers.

While in a different country, the large expat community and the great facilities make it a place people feel at home in, despite being in a foreign country.

More gains coming

Now the above area is getting record investment and more people from overseas are coming and this means prices will continue to rise.

Not an area that may take off it has!

Unlike many central American countries it has a track record and the investment coming in reflects the appeal of Costa Rica and the preferred destination of the central pacific coast.

If you want a great area to purchase an overseas property in then Central Pacific cost Costa Rica offers you a solid investment and a great location

More FREE info On investing in property and land in the area outlined above and suburb beach front plots with great capital appreciation potential then visit: http://www.costaricalandlots.com

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Costa Rica Property ? 4 Reasons It Will Continue To Soar In Value

Costa Rica property prices continue to soar in value and many investors have been doubling their investments annually. Can this continue? The answer is yes and this can make you some great profits with low risk and we all want that!

Costa Rica property investment does have rivals such as Honduras, Belize and Nicaragua but these markets simply dot offer the same risk reward.

Lets look at why Costa Rica property prices will continue to soar in value.

1. Its an established market

Costa Rica property prices have been soaring for 10 years and it has become a mature market. While many investors think that prices can?t go higher, they can.

Why?

Quite simply, there is a track record of growth and all the factors that were present 10 years ago driving prices higher are still there, in fact their set to accelerate.

Investment is at record highs and rising and this will continue to drive prices higher.

2. Rewards are high and risk is low

The major attraction of Costa Rica property is the opportunity to buy property that is 70% less than in the southern US states in a beautiful and stable country.

Many investors however are thinking well if Costa Rica has taken off, maybe they should buy one of its neighbours like Nicaragua.

Prices are cheaper so upside will be higher.

This is totally incorrect. A new emerging market may take off but most don?t, you can buy property cheap but it?s cheap for a reason!

When buying property you don?t want to buy the cheapest, this is a mugs game.

You want to buy competitively prized property, with low downside risk and great upside potential and that?s exactly what Costa Rica property offers you.

If you want double digit annual gains with low downside risk then Costa Rica property can give it to you.

3. It has an established expat community

If people are looking at buying for investment, second or retirement property, they will look for who else is investing and living in the country from their own nation.

Once an expat community starts to establish and grow it attracts other expats. Many people like living in country where they are the only ones, but most don't.

Americans and Canadians in particular come to Costa Rica because the locals are friendly and they have their own community as well, to make them feel at home.

4. Outside Factors ? The major one to drive prices

Consider this

The baby boomer generation is coming to retirement age and are faced with this scenario:

Most will not be able to have the same standard of living their used to now. State support is less medical care costs are high, their living longer and they haven?t saved enough!

So what will they do? Many are already seeing Costa Rica as a way to maintain and improve their standard of living (just 3 hours from the US) and their buying Costa Rica property in ever increasing numbers

The baby boomers as they retire now will accelerate the upward trend in Costa Rica property prices and this is an opportunity for some double digit profits with low risk.

More FREE info and A FREE guide on Costa Rica property as well as video's features and articles go to http://www.costaricalandlots.com

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How to Find a Los Angeles Low Commission Real Estate Agent

Have you recently decided to sell your home? If you have sold a home before, you are likely to know the expenses associated with doing so. If you have never sold a home before then you are about to find out. That is unless you make the decision to obtain the services of a low commission real estate agent. Los Angeles residents have reported success with using their services and you could to.

If you are unfamiliar with real estate agents, you may be wondering exactly what a low commission real estate agent is. In the Los Angeles area, a large number of real estate agents retain their fees from a percentage of a home?s sale. This percentage is often referred to as commission. The commission obtained by local real estate agents is likely to vary.

If you were to contact a number of local real estate agents you would find that some charge a commission as high as five or six percent. Does this sound like a large percentage to you? If it does, you are right. Those individuals cannot be classified as low commission real estate agents. An agent charging one or even two perfect can be classified as a low commission real estate agent. Los Angeles residents, to save money on the sale of their home, are encouraged to find these agents.

Searching for a low commission real estate agent is similar to searching for a traditional real estate agent. You can use a local Los Angeles phone book to find a number of local real estate agents. It is important to note that phone books are limited on the amount of information they provide. If you are interested in determining whether or not a real estate agent can be considered a low commission agent, you will have to contact that agent directly.

In addition to using a local Los Angeles phone book, you can also use the internet to find a low commission real estate agent. Los Angeles residents, including yourself, can use online business directories or online real estate resources. Each of these resources are likely to point you in the direction of a low commission real estate agent. Los Angeles residents can also perform a standard internet search. That search is also likely to produce the same type of results.

Many low commission realtors offer services that are similar to full priced real estate agents. To determine the difference in services, you are encouraged to speak directly with a low commission real estate agent. Los Angeles homeowners have been profiting from the sale of their home with discounted agents and so can you.

Brad Horn is a writer for 1 percent realtor where you can find a great resource for information regarding a Los Angeles Low Commission Real Estate Agent

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