Two weeks ago I started to write my first blog article. I started to write a summary of all the stupid things we’ve done to start the recession and the even more stupid actions we’ve taken that were intended to help but only made it worse. My outline of the issues was nearly two full pages of one-liners. Not only was I overwhelmed and depressed by the scope of the problems, but I was also concerned a publication would result in mass suicides (ala Heaven’s Gate) or maybe worse immigration to better problem-solving nations like China or France.
Let’s ignore the political agendas of the Republicans and Democrats. I believe Americans still have common sense and know deficits are bad and we don’t like taxes. That’s why JOBS COME FIRST. Velgenklere is your ultimate guide when it comes to learning more about the trends of real estate and the ways through which you can start you career as a real estate professional.
Over 13 million people are unemployed and maybe double that for the underemployed. These folks aren’t being allowed to contribute to the health of the economy, many have lost their homes and worse yet have lost their spirit and faith in America. Put them back to work and we get the benefit of higher revenues (through the existing tax rates) and lower expenditures (unemployment payments, food stamps, etc.). Oh my, smacks of deficit reduction.
And it all started with real estate
Nationally, real estate prices have fallen back to 2002 levels. At this writing, 30-year mortgages are down to 3.94% yet there is very little demand. As a realtor and owner of a few rental properties, I can state it’s a great time to be a landlord. At these interest rates, my tenants would save $150-300 a month if they bought the homes they are renting. Most of these folks have steady jobs, plant flowers, and gardens, and take care of the property almost as if they own them. They are good neighbors and would be good homeowners if they could qualify for a mortgage.
The real estate boom and bust were caused by the extremely permissive lending policies of government-run Fannie Mae and Freddie Mac. They made no-down loans and had programs that didn’t require verification of income or assets. (In the real estate industry these are affectionately referred to as “liar loans.”)
After the crash the reckless lending programs were eliminated, but, they didn’t stop there. They slammed the lending barn door shut by jacking up down payments and required credit scores so high as to kill the recovery.
If a starter home, owner-occupant wants or needs to buy a larger house, the purchase is usually contingent upon selling the existing home. The owner of the larger home will most likely buy another home (this may continue for several iterations). If there are no starter home buyers the chain of buy/sell transactions never begins. It’s unreasonable to expect starter home buyers to have much more than a 5% down payment and, worse yet, credit scores approaching 750. The focus should be on the prevention of fraud, not the killing of the recovery. We should reinstitute the pre-crazy underwriting standards of 2002 when unemployment was under 6%.
Whether you crave a bird’s eye view of the St. John’s River from the terrace of a high rise condo, an historic mansion with live oaks full of Spanish moss or ocean waves lapping at your door, Jacksonville, Florida can fill the bill. This is a place where you can spot fabulous condos similar to those in parc central residences ec in Singapore. There is such a diverse real estate market to be found here and the population continues to grow by leaps and bounds, seventy six people per day are discovering this hot new market. Not bad for a town known not too very long ago as a sleepy little hamlet. Sleepy that is until Central and South Florida’s more populated big cities, bursting at the seams let loose and sent new retirees and young professionals seeking the famous Florida sunshine spewing north to a city not quite ready for prime time.
Still today if asked most people would have no idea where in Florida Jacksonville is located, oh they certainly know where Tampa, Orlando and Miami are but Jacksonville has been a well kept secret waiting to be discovered for decades and discovered it has been. In the proverbial blink of an eye shrewd developers are ravaging the landscape at break neck speed, city government and members of the local chamber of commerce struggle to keep up with the growth. Just a few short years ago this beautiful river city lay quietly in slumber, now high rise condominiums dot both the North and the South banks of the St. Johns River and the newly built sports arenas and outdoor amphitheatre are evidence that Jacksonville may never sleep again.
The first sign of a rebirth was the renovation of some of Jacksonville’s oldest buildings into condominium style apartments and the formation of a new version of the “Welcome Wagon” of the fifties, they are glorified tour guides called city Ambassadors. Men and women wearing brightly colored orange shirts, khakis and donning safari hats, these city workers roam the streets at the disposal of city dwellers, downtown workers and newcomers/visitors to this fine city. They give much needed directions, walk women to their cars in the evening and are very visible during “special events”. Last year’s Super Bowl was this task force’s biggest test, one they passed with flying colors and the actual event was such a roaring success, (much to many nay sayers chagrin), that there is talk of other major sporting events in Jacksonville’s future.
Locals have mixed feelings about the whole growth idea, they know that with growth comes greed, corruption and crime but renewal has also been touted as a part of the “Big picture”. Jacksonville’s Downtown Vision Plan has sparked a renewed sense of pride in its wealth of older buildings and neighborhoods. Such is the case with the city of Springfield, an area that dates back to the 1800s, fell upon ruin in the mid 1980’s and was quickly forgotten. Today, the Ritz Theatre is alive with African American art exhibits, jazz concerts and other special events just like the old days. Beautiful old schools and warehouses are being renovated into apartments and business is returning to the area at an astounding rate. Enterprising developers are quickly realizing that Springfield is within one mile of all the action on the St. Johns River and are currently building historic looking replicas of row houses in an attempt to breathe fresh life back into Springfield’s real estate market.
Springfield is not the only neighborhood on the North Bank to benefit from the renewed interest in downtown Jacksonville; the Avondale/Riverside neighborhoods, also within one mile of downtown, once enclaves of the ultra wealthy are seeing a resurgence of renovations of their turn of the century mansions on or near the river. Chic new restaurants and high end boutiques open their doors on a daily basis. Thirtysomethings are jumping on the “flip this house” band wagon and are making small fortunes all the while enhancing the area, returning it to its former status of the “IT” place to live and shop.
San Marco, a quaint community founded by immigrants on the South Bank is much the same as it has always been. The beautiful fountain of three imposing lions made of bronze still stands guard over town square and the art deco apartment buildings and larger Italian style villas still stand as sentinels on the river. This area draws its share of the real estate focus, after all this part of Jacksonville is where the DuPonts chose to build their family estate, Epping Forest.
The beaches have always been a huge draw, not too much has changed there except that the real estate prices rise higher by the minute and the resort type communities get more elite and unattainable to common folk by the hour. Cookie cutter neighborhoods and shopping malls spring up in between and developers can’t seem to keep up with the suburban sprawl, although I don’t hear anyone crying over their bloated bank accounts.
In a way it’s a shame that Jacksonville couldn’t have remained the best kept secret in Florida but that’s just the way of the world. Progress cometh, you might as well carve out your piece of the pie and maintain forward motion. If your hearts desire is to live in the Sunshine State and you yearn for the culture of a big city with the charm of a small town, then Jacksonville is the place to be. But you’d better hurry, there is plenty to do and it continues to grow but as far as I know they’re not making anymore land
Within the first three months of 2005, Jacksonville hosted the 39th annual Super Bowl, the hit television series “Extreme Home Makeover Edition” came to town and Hollywood movie star John Travolta began filming a new gangster movie outside the historic Florida Theatre. Now that’s progress.
Your home is one of the most important investments you will make, so it’s imperative for you to protect your own interest when considering moving into a rental property. A few pertinent questions can make a marked difference.
Along with the standard rental questions covered in most leases such as monthly rent, security deposit refund policies, pet policies, and so forth, there are some less common inquiries which can make your transition much smoother and ensure you will be able to enjoy your new abode.
Are there any previous issues with the unit I should be aware of?
There could be any number of problems with the space you have chosen, yet unless you ask some hard questions, the realtor may decide to leave pertinent information out.
My husband is the maintenance supervisor of a real estate company, and I remember the nightmare he fought with a brand new sub-division whose sewer lines were filled with construction debris causing massive drain back-up. The damage to the property as well as to the tenant’s belongings was devastating. The issue continued for several years, but rental agents most often forgot to mention the problem.
There may be other unforeseen concerns, such as neighbors or noise level in the area. Always insist on full disclosure! If the company is not honest and upfront, chances are you don’t want to rent from then.
What are your maintenance policies for emergency and non-emergency issues?
It’s always good to know what the procedure is before disaster strikes. Make sure you are given numbers for both emergencies and non-emergency matters, and keep them handy at all times. Try to clarify as much as possible what is covered by the company and what will be your responsibility.
It is also important to know when calling the emergency line if you will reach a person or have to wait for someone to call back much later. However, please remember what feels like an emergency to you, may in reality be something you will need patience until it can be addressed. In Naples property management, maintenance and emergency policies for properties are very crucial. These factors are carefully considered by both buyers and sellers in the real estate market.
Am I allowed to alter the décor?
If you are the type of person who likes to paint and add borders to your nest, you will need to discuss this with the landlord. Some policies will allow you to make simple changes as long the property is returned to its original condition before you go, while others will not even allow nails. You probably should know this beforehand in order to protect your security deposit and any future litigation.
Which utilities am I responsible for?
With long leases and harried rental agents living off commission, the subject of utilities can often be overlooked. It can make your transition easier to know in the beginning what you are responsible for and have service switched before you move.
What is the policy on lawn care and snow removal?
Apartment hunters do not generally have to deal with the lawn or snow and ice, but with other types of units you should be aware if you are going to be responsible for your own sidewalks, driveways, and landscaping.
Who is responsible for pest control?
I ran into this problem when working in a real estate office quite often. There was an obscure reference to extermination under the health section of the lease which was often overlooked. It stated that the unit was treated prior to rental, and all subsequent applications were the responsibility of the tenant. Knowing what you are up against can make your life much easier.
In conclusion, there are really many different things which can go wrong no matter where you live. If there are any concerns you have, make sure to discuss these openly with the realtor and have an addendum added to the lease if it is an issue you feel could cause you major problems in time. They owe you full disclosure. Make sure you protect yourself!
Condos and apartments are both the same structurally; they are both small portions of a larger living complex. In the case of an apartment, a person pays rent and is bound to living in an apartment for a certain period of time by a written contract called a lease. The apartment is owned by another person who the apartment resident pays monthly rent to in exchange for being allowed to live there. Condos, on the other hand, are individually owned. The process of buying a condo is similar to buying a house in that the buyer will generally seek a mortgage loan from a bank.
The benefit of buying a condo rather than renting an apartment is that when a person buys a condo through a mortgage lender, their monthly mortgage payment can be locked in for the length of the loan. Apartment renters, however, do not have that luxury and many find that rent increases at the termination of each lease term.
Because condos are individually owned units of a larger building or complex, the collective group of condo owners, referred to as the home owner’s association, is the owner of the entire property. Home owners associations generally charge condo residents a monthly fee, referred to as homeowner’s association dues, which go toward the maintenance of the entire unit. For major purchases or renovations to be approved, each condo owner will generally take a vote as to how their dues payments should be used. They can be used for repairs or for routine services like lawn maintenance, private security services or trash collection.
Many people looking for a place to live for the long term may find that condos are more economical because mortgage payments are locked in and home owner’s association dues can’t be increased without a collective vote. On the other hand, people who move a lot or are unsure of where they want to settle down may benefit from an apartment. When a condo buyer has to move the burden of finding a buyer and closing the deal may take more time than is convenient for the owner. Many apartment owners who have to move can request to be released from their lease and incur a much smaller debt than a condo owner who has to continue to make mortgage payments until a new owner is found. In most cases, an apartment owner can buy themselves out of a lease if their apartment management agrees to such an arrangement.
For those who don’t move often and who know that they want to settle down right where they are, a condo is a great investment. Condos, like all other real estate, are great investments because of the increased chance that the property will rise in value. A person may be able to not only lock in their monthly mortgage payments, but also turn a considerable profit from selling their condo at just the right time.
All in all, it’s really a personal choice whether to live in a condo or an apartment. While condos can save and even make money, apartments offer the convenience of being easily left should the need arise. You can visit Newton Hawker Centre to compare condos and apartments. You can look at potential property options as well, this way you can see what best suited for you.
The housing needs assessment is a really important thing that one must do before going on to any real estate adventures. A typical housing need assessment generally consists of evaluation and compilation of economic characteristics and specific demographic information and trends. They also include characteristics of inventories of housings and other important factors like policies of the government and availability and adequacy of community services. The assessment basically indicates the nature of certain issues in housing like markets as in for sale or for rental and their price segments, the types of the bedrooms and other important factors.
Apart from these it also provides suggestions about policy initiatives regarding Kopar at Newton Chip Eng Seng which can actually benefit you in the market. Moreover this analysis can be easily conducted in small or micro-markets or even some selected neighborhoods in close proximity to your preferred location. Basically, in a nutshell, the whole point of the assessment is to get to know the particular needs of the community. Now let’s have a look at some of the components.
The identification of the study area means selecting the area based on which the assessment is going to be conducted. This includes keeping in mind various kinds of points to select the perfect city-state or even the country for which the housing assessment was to be done. These are called the primary assessment area and with it a secondary assessment area is also introduced which basically is a broader area than this.
The evaluation of community services is basically an outer layer of the assessment which consists of areas public transportation services, parking spaces, medical, shopping public and personal safety, proximity to important places, etc.
Another important component is interviews of stakeholders. The basic reason for these interviews is to understand the situation of the neighborhood directly from the stakeholders and to get a compact idea regarding your housing situation.