Dominican Republic Real Estate Market After the Economic Crisis

The Dominican Republic real estate market was hit hard by the real estate crash of 2009 and all of us who are still here and are still working in the Dominican Republic real estate market are releaved that it seems to be over. Many of the housing markets throughout the world are also in this position and we certainly agree real estate is fickle, but this was difficult! Things have certainly changed since late 2008 before the the morgage market in the US collapsed.

Originally, it looked like we in the DR were going to be just fine. The number of showings in 2008/2008 remained level and we had about the same number of clients looking at investment opportunities here in the DR; to us it seemed to be a regular year and we really believed that maybe we had come through without a hitch. The reality hit in later in 2009 when we noticed that all of the customers who had visited the DRover high season and visited DominicanRepublic real estate had had decided to wait to buy.

Most clients who were looking at real estate during the first quarter 2009 with the intent of buying Dominican Republic real estate, had made appointments with us and paid for their flights before the market drop in October 2008. As a result, we had close to the same amount of clients in town and agents seemed very much as normal. The truth became evident when we notice that there were only a fraction of closings (in comparison to the last high season where at least one quarter of clients purchased), but, our expenditures were close to the same because a majority of people who had planned on looking at property, still looked at real estate. Looking back, this shouldn’t have been a surprise, but for some reason we did not factor this.

However, things are improving now and we’ve finally past the bottom and the market has again started to improve. The cycle has hit bottom and started to climb, both residential and Dominican Republic commercial real estate inquiries are almost as high as they were before the crash and offers have increased substantially over 2009.

If you are a saavy buyer interested in jumping on the low prices in Dominican Republic real estate and you’re waiting for the right time to buy it seems that we’ve made it and 2010 will be the year where things begin to rise again. Don’t be among the regretful investors who feel remorse in 2012, wishing they had been wise enough to recognize the market at bottom.
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Does The Economy Work With Your Luxury Real Estate?

Sooner or later you’ll be ready to pack up and make that big move. You’ve been working hard and you’re finally ready for a change in scenery, but better than that, you’re ready to upgrade to your fist luxury home. This is a huge step for any homeowner and should be handled with extreme delicacy and care on behalf of both the seller and the buyer. Certain things are more important than others and obviously you’ll want to take all aspects into concern when you finally make that first purchase, but what should be considered the most important element of the transaction?

An old motto:

You may have already heard it once and you’re going to hear it again, but, “location, location location!” the words have never rang truer. This should be the motto of the luxury real estate agent and over time it probably will be. Your surrounding are vital and make the difference between a nice hand with some land, and a luxury real estate. You want a property that will retain its value over the years to come, a community that works, and an economic situation that doesn’t hold you back.

Never underestimate the economy:

One of the first things you should research further is the economic situation of the community you are considering. Luxury real estate isn’t technically luxury if it is settled in an area that is already falling apart. Part of the allure is a flourishing economy that shows symptoms of growth and profit. Any business man or woman wants their dreams to continue succeeding after they’ve purchased luxury real estate, not fall to a stop.

Death and taxes:

The property taxes are always something that should be studied with a close eye before any purchase is made. It’s important for any consumer to have an understanding of the property taxes compared to cities that may neighbor it. This will obviously have a huge impact on the cost of your living and the ability to sell the luxury real estate when the time is right. If the community already has an established history of climbing taxes you should probably take it as a warning of what’s to come. This theory also works in reverse. If the area has shown a history of lowering property taxes it’s always a good sign.

Only the tip of the iceberg:

The economy shouldn’t be the only determining factor in your purchase, but when the time comes to purchase such real estate it’s no doubt something you should carefully consider. While you’re at it you should study the school system, recreational environment, and other misc. details that make up what a luxury real estate really is. If you can’t enjoy your day after long hours of fussing over the economy and profit, what is the point? A good place to study further is the internet. Several online websites are dedicated specifically to discussing various luxury properties that are being introduced to the market. Who knows; you may find your next dream home surfing the web!

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Discount Real Estate Broker Offers Cash Back or Real Estate Rebate Savings to Home Buyers

What is a real estate rebate? Home buyers can negotiate discount savings when buying real estate with their real estate buyer broker. Real estate commissions or fees should not be fixed and are negotiable. Since commissions are negotiable, buyers can negotiate a discount in the form of a buyer broker rebate when buying a home with a buyer broker. Many home buyers do not understand this and miss the opportunity to save money when purchasing a resale home or from a new home builder.

How can the rebate savings be accomplished? For example, if you are planning to buy a home that is worth $500,000 that is listed in the MLS (multiple listing service), the commissions offered in the MLS may vary, but in this instance, let’s assume it is 3%. Total commissions paid to your buyer broker would be $15,000. If you negotiated a 50% rebate, then your broker to buyer rebate would be 1.5% of the sales price or $7,500. As you can see, this real estate rebate can provide significant savings as the buyer broker is discounting the fees that he/she receives and rebating the difference to the home buying consumer. Clearly, real estate rebates are essential to price competition amongst real estate buyer brokers.

Why is the buyer broker discount in the form of a rebate? Buyer broker’s fees or commissions are typically paid by the seller and built-in to the sales price, cash back or rebates from your real estate broker are the principal method by which a buyer’s broker can negotiate a discount otherwise the commissions on the buyer’s side are essentially fixed. As such, broker to buyer rebates are morally good because such rebates are the principal method by which a buyer’s broker can negotiate or discount their commissions. Buyer broker rebates are good for the consumer because these rebates reduces the cost of housing for the consumer and promotes healthy competition and innovation amongst real estate brokers. As such, cash back at closing from your real estate broker is one way to reduce your home purchasing costs.

Is cash back at closing from your real estate broker legal? Yes! The “built-in” buyer broker commissions are negotiable (not fixed) as rebates or cash back from your real estate broker are legally protected by federal anti-trust laws (U.S.A. vs Kentucky Real Estate Commission). In fact, the Department of Justice has indicated that such broker to buyer rebates are beneficial to the home buying consumer and are “key to broker competition”. According to the Department of Justice, real estate broker rebates or cash back to buyers makes home purchases less expensive. It should be noted that there a few lingering states which still have a “rebate ban” in place even though there is no justification for such a law. If you reside in such a state, it would be a good idea to contact your state legislature and request that they change the outdated law which impairs fair trade, price competition, and artificially inflates the home buying costs for consumers.

Overall, buyer broker rebates on resale and new home purchases are a smart way for home buyers to save money when purchasing real estate. Cash Back Realty offers real estate rebate savings to home buyers for real estate home purchases.

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Creative Real Estate Help

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Having invested through up and down markets, we’ve tweaked quite a few strategies and can present you what functions most efficiently and what’s operating now. The market circumstances need to never be the determining aspect regardless of whether or not you make funds!

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You will start to determine why we’ve made this a apparent reduce meat and potatoes program. You’ll have the resources and systematic approach you need to spend money on ANY market.

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With the altering tendencies you will discover quite expensive mistakes you possibly can make, however if carried out proper, there’s a Great deal additional money to become made proper now.

Click Here To Grab Your Copy

Having invested via up and down markets, we have tweaked a number of strategies and will display you what works most successfully and what’s working now. The market conditions will need to by no means be the determining element whether or not or not you make dollars!

You’ll truly acquire countless training programs that are ineffective now for the reason that they’re according to only one kind of actual estate investing technique and/or marketplace. There are lots of significant organizations nevertheless instructing concepts that finally depend on an “up” market for you personally to create a decent profit. We’ll exhibit you the most profitable approaches AND when to use them for the sort of market you might be in making use of little to none of your own income,credit or savings.

Understand: Even when you have a great deal of dollars or cost savings to work with, it’s going to only get you so far, you have to be inventive when you desire to make cash speedily not just -net worth- in actual estate.

Click Here To Grab Your Copy

You will begin to find out why we have made this a clear lower meat and potatoes course. You’ll hold the tools and systematic approach you must invest in ANY marketplace.

But additionally, we will also give you step-by-step instruction on easy methods to particularly use every of these actual estate investing methods individually AND Together FOR FLAT and DOWN markets.

You will in no way get so a lot for so small. It continues to be entirely empowering for us and we know it is going to do the very same for you personally.

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Believe me, you can find lots of training packages available, but various of them only inform you sufficient to create you need much more. We cover all the crucial details other Mentors and Guru’s attempt to withhold till you may have spent a large number of dollars with them.

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In 3 months (or less) you can quickly and easily become a mini real estate tycoon… by flipping houses! Looking to increase your net worth? Read a guide that will change the Way you look at real estate investing forever at Flipping Houses 101.

Condos in Summerville, SC

Considering buying a condo in Summerville, South Carolina? I would recommend staying under $175K because most buyers looking in the Summerville area would rather have a house than a condo. Because real estate is so affordable, most buyers prefer to pay a little more and get a house for the privacy and space.

Buyers looking in more expensive Charleston markets like Mt. Pleasant and James Island often choose condos and townhouses because that is simply all they can afford. In those areas, you can’t really get a house in a good neighborhood for under $225K, so a lot of people buy townhouses and condos. And, resale is quite good for condos and townhouses up to $300K in those areas.

However, in Summerville the market for condos is considerably different because buyers choose affordable condos (most sales are under $150K). In short, you don’t want to buy a condo priced at the top of the market and then have other condo values bring down your investment. I have included below some of the most popular condo communities in Summerville.

Grand Oaks Preserve has more of a townhouse setup with 2 stories, but they are technically condos. These were built in 2007, and almost all of these have attached garages. Grand Oaks Preserve has some of the most affordable newer condos in Summerville, with prices starting under $120K. You will find a large selection in this neighborhood because a lot of these are for sale right now.

Midland Terrace has condos that were mostly built around 2001, so it is relatively new. Midland Terrace has a traditional condo setup, and it is very comparable to The Peninsula on James Island. These are considered luxury condos, and you will find a nice pool area with amenities. The buildings are 3 stories, and it is possible to find ground floor units here.

The Highlands is a subsection of Legend Oaks Plantation. These condominiums are comparable to the Dunes West condos in Mt. Pleasant. Some of these overlook the golf course. The Highland has great amenities including a pool and tennis courts. Legend Oaks Plantation is one of the largest and most popular neighborhoods in Summerville. It has houses, townhouses, and condos. So, if you bought a condo in here, you would be buying at the bottom of this community – meaning that almost all of the other homes would be nicer and more expensive than yours. In other words, you could live in a community where the highest priced homes are in the $400s.

The Pines at Charleston Park has some of the newest condos for sale in Summerville right now. Many of these units have garages. These are technically condos, but they have a townhouse setup with 2 stories. A lot of these are still being built, so it is possible to get a unit that is still under construction.

Villas at Charleston Park has all 1 story condos. These are all ground level, too, so there are no stairs that are typically associated with condo buildings. So, if you’re looking for a first floor condo in Summerville, Villas at Charleston Park would be an ideal place to start your home search. Most of these units have an attached 2 car garage, too.

In 3 months (or less) you can quickly and easily become a mini real estate tycoon… by flipping houses! Looking to increase your net worth? Read a guide that will change the Way you look at real estate investing forever at Flipping Houses 101.