SW Calgary Real Estate Proper Destination for Homes

The South Western Part of Calgary is an expanse of many homes and business houses which are ensconced in hills & valleys which are the main attractions of the region. The homes here are a mix of tradition and modernity with affordable real estate in SW Calgary area.

One can find homes which were built in 1900s and the homes & condos which are modern on the south of Bow River. The inner and outer suburbs of SW Calgary offer many interesting and affordable homes to the people who are looking for real estate in SW Calgary. The outer suburbs of SW Calgary are dominated by single family houses and the inner city of SW Calgary is dominated by modern condos and town home complexes. The area has many neighborhoods which offer schools, recreation facilities and close shopping malls. Outer suburbs are divided in central and western suburbs where many apartments, duplexes and town homes are scattered. All meant for single family.

Most of the homes in SW Calgary are within walking distance from the shopping centers which meet the daily needs of the residents here. Homes in SW Calgary are blessed by many parks, playgrounds and tot lots. The Glenmore reservoir provides the drinking water to the houses and is famous for swimming, boating and sailing, providing enough recreation to the children living here. This part is well connected with the city center. Route 201, C-train and transit bus services are always available for transportation. The inner city of SW Calgary, like its neighborhood, has homes which vary enough which suits any type of budget and preference. Unlike outer suburbs, town homes and condos are many in numbers which enables first time buyers a comfort and an opportunity of buying affordable homes with the help of SW Calgary real estate .

SW Calgary real estate is managed by the Calgary real estate board which has more than 5000 realtors and brokers who help the home seekers with their expert service and state of the art techniques. The MLS listings service provided by the realtors is very helpful in searching the most suitable houses for the home seekers. They have the in depth knowledge of Calgary real estate market.

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.

Surprise! You CAN Afford Hilton Head Vacation Rentals and Real Estate

When most people think of Hilton Head Island their mind conjures an image of Robin Leach bellowing his famous “champagne wishes and caviar dreams” extolling the lifestyles of the rich and famous. While there’s no doubt that there are pockets of this tye of wealth on the island, most people are very surprised when they find out that even before the economic downturn that there are plenty affordable homes and vacation packages available both on and off the island.

Affordable Hilton Head Real Estate

No, it’s not an oxymoron. There actually ais affordable real estate on the island, and not just short sales and foreclosures. For example, popular communities like Hilton head Plantation, Palmetto Dunes, and Sea Pines all have homes over 2,000 square feet well under the $400,000 price range. Of course, you’re not going to buy an oceanfront or ocean view home for that price. You still need millions for those properties. But consider the fact that when yu buy in these communities you’re usually never more than a few miles from the beach. That’s a quick car or bike ride away.

When it comes to Hilton Head real estate. in today’s economy it’s not always the price of the home that you need to take in to consideration, but also the annual membership fees and property owner association (POA) fees. For example, in exclusive Bluffton comunities lek Belfair and Colleton River Plantation you can find lots under $10,000 and homes under $500,00 (and sometimes under $400,000). At the onset, these seem like great deals. But keep in mind that annual dues and fees will cost upwards of $14,000 per year. While you might be able to afford the home, you may struggle to meet the annual fees.

Fees like thos at communities liek Befair, Colleton River, Wexford, and Long Cove are more the exception than the rule. In most cases you will find that annual POA fees are between $800 and $2,000 per year depending upon services offered (i.e trash and yard debris pick up, community landscaping, etc.) to overall community ammenites (pool, tennis, health club, golf course, marina, etc.). These fees are subject to change. For the latest POA and club membership fees contact a local real estate professional.

Affordable Hilton Head Vacation Rentals

Along the same lines as real estate prices, many people think they cannot afford Hilton Head vacation rentals and immediately look at places like Myrtle Beach and the Florida coast for a rental home or villa. Prices on Hilton Head vary greatly by location and time of year. In season many of the larger oceanfront homes rent for $5,000 – $8,000 per week. Then again, those homes also sleep 12 or more people. So if you’re traveling with family or group of friends it can bring your costs down considerably.

The great part about staying in one of the Hilton Head villas or rental homes is that no matter where you stay you’re never more than a short drive or bike ride away from the beach. Sure, everyone would like to have an oceanfront rental at a discount price. But if you’re out and about at the beach or the golf course all day, why pay extra for that view? There are hundreds and hundreds of golv view, lagoon view, and wooded view homes and condos that rent for between $900 and $1,800 per week.

If you’re an empty nester you may also want to consider visiting the area in September or October when the families are home and the kids are back to school. The daytime temperatures are still in the 80′s and 90′s, and the water is still warm for swimming. The difference is that the beaches, golf course, and restaurants are not as crowded allowing you for a more leisurely vacation. In fact, it doesn’t really start to cool down here until late November or early December, and those last three months of the year usually offer some of the best golf weather all year.

Your Next Vacation, Your Next Home

Now that you have the facts, what are you waiting for? It’s time to plan your next Hilton Head vacation. Before you arrive bes sure to visit Hilton Head 360 and order your free copy of Island Real Estate Magazine and plan an afternoon or take a rainy day and tour the luxurious and the affordable homes of Hilton Head Island.

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.

Summerville Townhouse Communities in South Carolina

Summerville, SC does not have nearly the selection of townhouses compared to houses. This relatively low supply is a result of the low demand: most buyers for the Summerville area want houses rather than condos or townhouses. However, there are several good options to consider if you’re looking at buying a townhouse. I’ve listed below some of the most popular townhouse communities in Summerville.

Central Commons is one of the best places to look right now for townhouses in Summerville. These have lots of space (most are around 1400 sq ft). They also have great upgrades for the price, like hardy plank siding, hardwood floors, and wooden cabinetry. If you’re looking in the $120-150K price range, you should definitely compare Central Commons to some of the other townhouses on your list because these will probably be some of the nicest you will see for the money.

Lakes of Summerville also has an excellent selection of affordable townhouses in Summerville. Prices right now start just above $100,000. Most of these were built in 2005, so they’re quite new. These are all 2 story, but many of the floor plans have a master bedroom downstairs. The only amenity for this community is a pool.

Wescott Plantation has several subsections with townhouses. The Gates subsection has a setup that is 2 townhouses per building, so every townhouse is an end unit. The Abbey has some of the newest townhouses, and some of these have attached garages. The Orchard and The Farm also have a good selection of townhouses for sale.

Limehouse Villas has brick front townhouses, and some of these have garages. The main drawback to this community is that it is much smaller, so it does not have the amenities (like a pool) that most of the other neighborhoods on this list have.

Daniels Orchard is also worth a look if you’re in a higher price range. These townhouses start in the high $200s and go up to the mid $400s. Most of these were built in 2008, and they have great Charleston style. Some of the end units even have wrap around double front porches. This community also has single family houses, which for the price, might be a better option. Most of these are proposed construction, but there are a few that are newly built (just finished and ready for move in).

The last townhouse community I’ll mention is Coosaw Commons. This community is right on the line of Summerville. So, some of these are listed as North Charleston and some as Summerville. These townhouses are newer (most were built in 2005), and they have garages.

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.

Successful Real Estate Investing 3 – Focus On Cash Flow

In the past, there was a received wisdom (usually among agents selling overpriced ‘investments’ for high commissions) to ‘invest for capital growth’ – i.e. don’t worry so much about what the Yield is, just buy where you think is an ‘up and coming area’ or ‘the next big thing’ – these in Europe were places like Capital cities in Eastern Europe (Tallinn, Riga, Sofia, Prague, Budapest) and Holiday destination such as Spain, and in USA places like Las Vegas or Florida. It’s no coincidence that these are the places now hit hardest in the real estate bust , and has taught a sharp lesson to ‘growth investors’ . Fortunately with the advent of the writings of Robert T Kiyosaki (Rich Dad Poor Dad) and his less famous predecessor Dr William G Hill (Think Like a Tycoon) which gave the same message, there are a growing number of investors who use cashflow as their first ‘box’ to tick when looking for a real estate investment.

When looking at the object to buy – the most important thing and the first calculation to make is to check that the deal is ‘cashflow positive’ This means no matter how the market goes, you are making money regularly. The basic calculation will be to work out the difference between rent money in, and money out -lets say for example, you buy a foreclosed Investment Property – an apartment in a complex, in Florida, for $100,000 (sold for $200,000 in 2007). If the monthly rent is $800, the annual rent is $9,600 (gross yield 9.6%) and the service charge is $340 per month (service charges are relatively high here due to pool maintenance and other facilities), the mortgage interest (75% at 3.95% interest rate) is $247, there are $50 more of outgoings, and so the monthly income ($800) minus the monthly outgoings ($340 + $247 +$50) = $163 per month positive cashflow.

However, there are in addition some risk factors worth adding in to make sure the deal is worth it:

1. Vacancies – every year or two there is likely to be some empty time – Calculate in for one month every two years there or one month every year if it’s in a harder to let area (and ask yourself why are you buying in a ‘hard to let’ area?!) Assuming this foreclosure is in an easily letting area with a good tenant pool, then there’s $33 a month to take off the income to cover the potential for vacancy.

2. Mortage Amortisation – currently it’s likely that you’ll be asked to amortise your loan – with the above example, (check our mortgage calculator here) the loan amortised over 15 years will mean the repayment is $553 per month.

As you can see, the above extra checklists will put this ‘bargain’ into negative cashflow territory – $800 – $553 – $340 – $50 – $33 = minus $176 so what on the surface looked like a good cashflow deal, became a ‘growth play’, and isn’t a good investment from the start.
Looking at another example – lets take 63 Simon, Buffalo, on our front page – Rent in per month is $950. Monthly costs are $248, mortgage including amortisation is $330, and let’s take a vacancy of say one month per year to be safe – 950/12 = $80 per month, so there is $950 – $248 – $330 – $80 = $292 positive monthly cashflow.

This is fundamentally important – in every real estate investment you make, every month from day 1 you should be making money.

In Summary

1. Only buy deals with positive cashflow from day 1.

2. Make sure the investment has a good sized pool of potential tenants – i.e. take this into account when selecting 1. Unit size and 2. Area

3. Take into account ALL costs and deductions, not just the patently obvious ones, and assume a conservative scenario at all times.

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.

Sources of Real Estate Deals & Their Pros and Cons

If you are in the market for a real estate deal, where do you go? A successful real estate deal starts with buying right. As they say, “the deal is made going in”. The purchasing side of a deal is the only side you can control – if you don’t like the terms you don’t have to buy. It is better to have no deal then a losing deal. Let’s look at the four most common sources for discounted real estate and their advantages and disadvantages:

The MLS

Pros: 1) You are given the time to fully inspect what you are going to buy. 2) You are given the luxury of changing your mind if you don’t want it anymore – within the inspection period. 3) You can obtain conventional financing. 4) Many times, bank-owned properties are for sale at a lower price than the opening bid was at their foreclosure auction.

Cons: 1) Since the MLS is the most common place where buyers look for deals, you are not alone; once you identify a good deal you must act quickly and decisively. 2) If the property has been listed on the MLS, a detailed history of the property and the sale is available to anyone with access. If you are planning to fix & flip, it might be tough to explain to your buyer’s lender’s underwriter what you did to justify a 40% or 50% increase in value over what you bought it for. Many fix n’ flippers will not buy through the MLS for that reason.

Foreclosure Auctions

Pros: 1) You will own a property within 24hrs. 2) Providing you do your homework and are a disciplined bidder, you can get good deals.

Cons: 1) Must pay cash. 2) You have less then 24hrs to prepare for your bid. 3) Most of the time you will not be able to see the inside of the property. 4) Some properties are still occupied by the previous owner or tenant.

Note: for some reason there seems to be this thing about buying at the auction like, “I ran a marathon,” as if buying at the auction guarantees a deal. Nothing is further from the truth. No one considers that maybe that guy who bragged to you about running a marathon took 19hrs to cross the finish line – know the details before you are impressed.

Wholesalers

Wholesalers are usually professional auction buyers (or sometimes “farmers”). They will buy the property at auction and then resell it for a premium. You can get on their list, and every time they have a property available you will be notified.

Pros: 1) You have more time to take a look. 2) Most of the time you can see the inside. 3) Many times they will help you acquire a hard money loan.

Cons: 1) A large percentage of the time, the premium you pay them is high enough to make it a non-deal.

Farming

Farming basically goes like this: you pick a neighborhood containing your ideal prospect properties. You then proceed to become intimately familiar with the people living there. Send them a card, go to their community meetings, knock on doors, get to know everybody; all this, with the intention of being the first to find a distressed seller to offer a solution to.

Pros: 1) You are the first at the scene. 2) Hopefully, you did a good job building relationships and you are in with the seller. 3) If you wholesale your properties you can do this business without any money of your own.

Cons: 1) It is very time consuming and has to be part of your life.

Conclusion

Hopefully, this gives you somewhat of a feel of what’s out there. In principal, no one source is better that another. Much depends on market conditions and your personality, experience, and financial strength. Personally, I focus on getting deals through the MLS and the Auctions, those two avenues are the most conducive to me. Feel free to contact me with any questions or comments.

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.

Smart Residential Real Estate Purchasing Tips

They say that a house is a dead investment. It costs a lot, it does not generate profit, and it’s expensive to maintain. But having your own residential real estate does have its perks. However, it’s not as readily quantifiable as compared to business ventures. Nevertheless, the value home can be easily observed with the way it complements the need and desires of the interested home owner. And this value can be secured by following certain protocols. When searching for and buying a residential real estate:

1. First, perform research on the necessary, like location, price, payment plans, etc. Mix it up with a little planning as well. For this, you can list down the things that you require; whether it’d be five bedrooms, a function hall, a big lawn or parking space. Also, think about the condition and design that you want your house to have. Would you want it to look rustic, Victorian, modern? This way, you can narrow down your search and spare yourself from long drives and the tedious task of house hopping. You can even hire an agent to help you out.
2. Update your self on the residential real estate market trends. This is still part of research. But it specifically requires you to find out when it is most conducive for you to buy a house. Because of the economic crisis, 2009 became a hot time for buying real estate as the value of houses in the United States dropped from millions to thousand. However, this will require a little effort on analyzing economic trends. But then again, if you don’t want to do hard core study, you can just as easily surf the internet for real estate notices. But do this regularly though as changes happen invariably.



3. Foreclosures are a great way to save money when buying a house. So do check out the inventory. If you like, you can get professional help from a real-estate broker or agent, so you can peek at reasonably priced dream houses.
4. When finally checking out a potential residential real estate, find out all that you need to know from the agent assigned – the condition of the house, any landscaping issues, its history, etc. This will help you make an assessment of how conducive it is as a living space. For example, if the house is 100 years old, and has pipeline plans that are poorly laid out, and is built on top of a fault line; even if it is beautiful and within your budget, it won’t be a smart investment at all to make.
5. In relation to number 4, strictly inspecting the property for any damages will give you the opportunity to ask the seller to fix it before you buy it. This way, you get to save on restoration expenditures.
6. When you have houses you like, don’t hesitate to make an offer. In some ways, it’s just a form of reservation. But keep your financial status in check. If you are securing the assistance of a bank for housing loans, ask about their lending standards, so you don’t end up expecting in vain. Getting a mortgage is a big responsibility. So if you don’t meet bank prerequisites and have an unstable source of income, then, maybe you could continue on with tip number 2 for the meantime.
7. Now, it shouldn’t be misconstrued that money is the most important consideration in buying a home. Yes, it is advisable to be frugal. But don’t buy a residential real estate just because it’s affordable. Buy it because you envision living in it for a very long time. Buy it if it can answer your need for safety and security. After all, this is where you find its greatest value.

With the economy continuously treading unsteady waters, it might be best to give ample time in practicing the said tips. This way, you can guarantee the best residential real estate for you and your family.

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.

Should You Invest in a Condo Conversion?

A conversion is what a condo is known when it has been converted from rental apartments to owned apartments. These can be slightly cheaper than condominiums, but they should also be investigated carefully to make sure that the lower price will be worth it. A careful examination of the quality of the renovation and the age of the building and its systems is in order to ascertain that the resale value will be worth your time and money.

A condo conversion can be done well enough that there is no real difference in quality from a conversion and a unit built for sale. However, many conversions are no more than a new paint job and don’t feature the amenities that even the most basic built-for-sale condominiums feature, like decent-sized kitchens and washer/dryer hookups. Make sure that you know of all the amenities offered with the condo and all the amenities that are usually offered in similar condos.

Always have an inspection done on the building that you consider buying from. There are some conversions that look okay on a cursory inspection, but that a qualified inspector can find problems with. Owners who want to make money off of their ex-motel aren’t going to clue you in on the lack of washrooms for the space you’re buying or the fact that the paint covers cracks in the plaster. A good inspector can alert you to things that can be major potential problems


You will want to know how old the building is. A new conversion, even if done well, can disguise an older building that may be on its last legs in a number of areas. You should find out the age and general repair of things like the roof, the foundation, support structures, electrical, plumbing, heating/cooling systems, and sewage systems. If a condo conversion has been done on a fairly new building, it’s usually a better bet than a comparable older building simply due to the lifespan of the various systems that make it up.

Older vs. newer also comes into play in terms of building codes. If your developer hasn’t seen that the building is upgraded to present codes, you may be in for problems down the road. In some cases, you may even be held responsible for bringing your unit up to code if you want to sell or rent. Your next assessment can also hold unpleasant surprises if you aren’t careful.

If the conversion is from a motel or a rent-dedicated building, check the layout. Renters are more likely to overlook things that owners will find intolerable. Layouts meant for housing the greatest amount of people for the least amount of time do not tend to make for comfortable home arrangements. If there has been a conversion, has it taken this into account? What about the new carpets and fixtures? Have they been chosen with an eye to modern standards or are they the cheapest of the cheap? Or, have there been no improvements at all?

Look at the resale value of the unit. If the unit is not converted with a modern renovation, it may not be attractive to buyers. You may be buying for less, but you’re hoping to sell for more; will the condo’s present layout, repair and fixtures support this? Will you be able to make a profit in five or ten years?

Condo conversions are often targeted by first-time home buyers due to their relative lower cost than a built-for-sale condo unit. However, make sure that you have an inspection done and critically examine the unit for livability and resale value. A conversion could be a terrific deal, or it could make you wish you had never entered the condo market. Careful inspections can be the difference between a happy homeowner and one beset with falling value on their property.

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.

Short Sales In Real Estate: Facts For Buyers And Sellers

Buying and selling a house is always demanding, being on both ends of a Short Sale, could amplify the difficulties. Short Sales are often touted as alternate options to bankruptcy or foreclosure; but it’s not actually as easy as that. Merely wanting to buy or sell through a Short Sale is not sufficient, there are qualifications that have got to be met.

Sellers must prime themselves because their lender could not agree to a Short Sale of their residence; lots of lenders are not prepared to take the loss. Hardships such as loss of career, the end of a marriage, urgent medical conditions, moving long distances for work, bankruptcy, or death are the most widespread reasons for a lender to endorse a Short Sale. Lenders are more apt to endorse a Short Sale when the seller is going through an individual misfortune such as those listed above. If the owner is upside down in her mortgage, the lender might also think about conceding to a Short Sale. In both kinds of situations the bank must be provided with documentation including however not restricted to: tax returns, W2′s, financial statements, payroll stubs, and a hardship letter. The problems involved in the Short Sale of a house, make obtaining expert legal counsel and fiscal counsel a necessity.


If you are considering purchasing a residence that is up for Short Sale, you have a ton of homework to do. Buyers will benefit from both professional legal and financial advice during the Short Sale procedure. There are a few problems that possible Short Sale buyers should be aware of previous to becoming involved in this route of action. Short Sales will require at least 1-3 % of the asking price. The lender will take at least 6-8 weeks to make a decision on your offer; don’t expect them to finish this procedure any faster. In a Short Sale, inspections and repairs on the house are always the duty of the buyer. Lastly check with the listing agent on the home prior to making any offer. If other offers have previously been made, it is silly to go to the agent with a inferior offer than those previously presented.

Together buyers and sellers will tackle issues and stress in the procedure of a Short Sale. If you decide that a Short Sale is the best choice for you, these hints should make the process less overwhelming.
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.

Short Sale Property In Real Estate

Short sale is an alternate to bankruptcy or foreclosure proceedings in real estate. Home owners who are incapable to pay back the mortgage loan on the property sells the property less than the outstanding loan and the entire dealings goes towards the repayment of loan to the lender or the bank. Here the mortgage lender or the bank agrees to reduce the outstanding loan amount on the home due to the economic hardship of the borrower wherein he is unable to repay the loan further.

In short sale the lenders or the bank approves the sale process of the house when they make out that the loss they will bear is negligible as compared to foreclosure. But the transaction of property proceedings is completely to the approval of the bank or the lender. They can approve or disapprove the transaction as according to the payoff they will be receiving on the sale. However all the lenders or the banks have different set of parameters for the procedure of a short sale.

As a seller your credit report in case of short sale seller will be affected. You will come under the scrutiny of the mortgage lenders and the banks in case of fresh loan approval but still the case of will be well off than bankruptcy. You must understand that although bankruptcy does not stop you from buying home but in this case for approving mortgage loan for buying house you need big down payment and be ready to pay higher interest rates on the loan taken. Short sale option is considered to be much better option for owners in financial hardships.

You must also understand that every property or home owner is not eligible for short sale. This procedure has some set criteria which have to be fulfilled by the home owner and the property before the deal proceeds. Here are some criteria for short sale. First, the home owner cannot repay the loan further due to financial hardships. However cases like moving out, miserable neighbors or bad buying judgment does not count in financial hardships. Secondly, if the existing price of the house is less that the loan amount due like in case the market rate of the house has dropped. Thirdly, the mortgagee has no other asset apart from the said property to repay his debts and fourth, the mortgage loan is in or near in default. At times even in current the bank might consider short sale if the value of the property has depreciated.

Sometimes even if you fulfill all the conditions you still are not eligible for a short sale if you do not have a proposal from the buyer because the offer that the buyer make to you has to be accepted by the third party, the lender or the bank in case of short sale. Once you qualify for a short sale you must always remember that this will influence your credit report.

As a buyer of short sale property there are important things that you must consider before doing the transaction. Like knowing the total outstanding amount the seller owes to the bank you can always quote the right offer so that it is neither below nor overpriced. Also the offer has to be approved by the lender too for short sale transaction so you must understand all pros and con of the transaction as the entire deal might take months. Also find out if the existing home owner is in default or not because you do not want to make any investments with any extra expense in future.

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.