Real Estate Journal

Through this Journal, walk with us, as we go through the various activities in the real estate industry, see through the unique characteristics of each parcel of land, the valuation of real estate and how transactions are facilitated. Initially, find out the activities that make up the real estate industry:

Appraisal- a valuation service carried out by a professional

Brokerages- provide assistance to buyers and sellers in their transactions

Development- improve the land by replacing or adding buildings

Property management- manage a property for its owner/s

Real Estate Marketing- manage sales of the property

Real Estate Investing- manage the real estate investments

Relocation services- relocate people or business to a different country

People who wants to take on the lucrative real estate sales career has help coming up.  The University of Cincinnati Clermont College announced the four required state of the art courses  recently developed in consultation with local real estate professionals and experts in the business community.  This is an great example of the academe and the industry working hand in hand.  The course will offer accelerated real estate pre-license classes and will  prepare the students in fast tract format to take the Ohio Real Estate Sales Exam.

Students will also earn up to 12 college credit hours through the UC Clermont College at no extra charge.

The spring session of classes is scheduled for 9 a.m. to 5:30 p.m., Monday through Friday, April 7 through April 25, at UC Clermont College’s site at Park 50 TechneCenter.

Investing in real estate particularly in freefall areas are risky these days. Foreclosures are increasing rapidly and home’s aren’t selling either even at low prices. Up to now, the major threat that the  real estate markets are facing is the prevalence of subprime loans and mortgages. Transaction volume, however, in particular over the next 12 months is an important gauge of a market’s health. The indicator that the real estate market is stable, how easy for it’s people to get loans and if mortgages are available. Assurance that confidence is back is when prices start to rise within three to six months.

There’s been bad news brewing in the US real estate market. Instead moaning about it, one should rise above this problem and do something about it. So how does one sell despite the doom and gloom around us? According to Jennifer Allan, real estate broker, author and consultant, here are tips on making sure that what you sell won’t be sitting on the list forever:

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Some assets that are bank-owned are not publicly marketed. Other banks may have other unambiguous directions on how to advertise and not to advertise the standing of properties to consumers. If a property is too early to be labeled, it could catch the attention of low offers. On the other hand, a potential buyer would like to be familiar with the reference and status of the properties that they will eventually purchase. Although there won’t be any official guiding principle considered, there are scheduled sale auctions for those interested. Public sale or auction properties do not allow public annotations on this matter.

In order to survive, one must adapt. This is one thing the insurance agents of today have learned. What they used to keep near their chests are now out in the open for everyone to see. They have now freely posted previously withheld information in the Internet. This information provides the brokers with just enough information to give buyers a one-site stop for all their real estate needs.

“It’s a natural evolution of competition and what consumers want,” said C. Robert Hale III, chief executive of the Houston Association of Realtors, which operates the area’s M.L.S. “The consumer wants to see everything.”

Will this change the current way agents and brokers sell? We’ll know in a few months.

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Yep, they rise and then fall as we all suffer from the effects of the economic crunch that still has us well in it’s grasp. But the rise is still not ample enough to get real estates experts jumping for it’s still a long way till recovery can be declared. Home prices have however stabilized even with low prices which means they have stopped going down which was a trend for the past few months as the recession raged. In related news, halted developments are suffering big time as construction companies wait for funds that are already tied up in homes that have yet to be sold. They have been left where they stand but any longer, they may settle into disrepair that would be a waste of a lot of funds spent on materials and labor, with only an unfinished shell of a home left as proof of it’s existence waiting for nature to reclaim them, till somebody claimed to shrinkwrap them to protect them!

The FBI has released alarming information regarding real estate fraud and a majority of these cases are related to identity theft. This comes as no surprise for as people get more desperate, they’ll try anything for an easy buck. Real estate fraud has become such a major crime that the FBI has taken notice and opened a group to deal with the rising crime rates. From the many scams and schemes that prey upon innocent buyers and sellers, they are after the biggest ones but are in fact doing more good for they are raising awareness of the many styles these crooks use to reel in their prey.

Four people involved in a Ponzi scam that defrauded over a thousand people are being persecuted for their crimes for their involvement in real estate fraud and many other similar offenses. The Metro Home Scam took on the money of investors promising revenues unheard of in the market which instead went into their pockets, funding their lavish lifestyles, fleets of chauffeur driven luxury cars and more. To cover their tracks, they make lavish and public donations to charitable organizations to sweeten the stench that lies within. [Read more →]

People have been wondering when the housing market would recover and February gave them the figures they were expecting, on the positive. That lasted a few weeks then the downward spiral continued on its cycle of price drops. Experts are saying that the market is beginning to stabilize a bit with prices not going down too much compared to when the housing market initially crashed. Prices have dropped a lot and they say it has bottomed out to the lowest levels that it can’t possibly go any lower. [Read more →]