Real Estate Info

Most foreigners don’t know that many properties in Phuket can be bought either from a land auction or public real estate auctions. Many auctions are taking place on the island every day and if you’re in the right place at the right time, you can buy one of these properties at a nice discount. You also can enjoy the savings of buying a property at auction in Phuket if you remember my few tips of the trade.

Buying a property like a house, bungalow, condominium or even an apartment in Phuket can be quite easy if you know these few things first. You will need to have a company set up in the case of a land transaction of any kind. It’s forbidden for foreigners to own land in the kingdom of Thailand. Foreigners are allowed however to buy a condominium in our own name if the condo title is a freehold title. If it’s not, you may be able to lease it for thirty years with a possible extension of another thirty years.

One of the most important things when buying a property at auction is to be able to do research on the title. The only way to do this is have a Thai ask all the right questions at the land office. Questions like “does the property have a public road” or “is the title free and clear of liens” are examples of things you will want to know. This can be often difficult for a lawyer to answer given the short amount of time between when a property is listed and the time it goes to auction. You need to be able to move quickly and do the research before you go to auction. If you haven’t had time to prepare for the auction, best to let the Phuket property go to someone else because it’s not worth the risk.

Another way to pick up a property is from several banks that have repossessed the property but for some reason the property in Phuket hasn’t gone to auction as of yet. There are many banks that have properties available. You can find a lot of these on the internet but you better have someone who can read Thai because many of the websites are in Thai only and there isn’t an English version. These banks also sell these properties at special open houses like the big one in Bangkok called NPA.

Many newspapers’ in the south carry Phuket land or property auction notices. A good Thai friend can alert you to the Phuket properties that come available. On the day of the auction make sure you bring your buddy as the numbers in Thai can be confusing during auction day. You don’t want to overpay or get caught up in the hype of the auction. Make sure to set your limit you want to pay for the property and stick to it.

In closing, a smart shopper can receive a nice discount buying properties in Phuket at auction if they have researched the title and make sure there are no problems with the land or property. A competent lawyer can do the necessary background checking on the land to make sure the title is free and clear. By doing proper research on The Phuket land title and having all the information like zoning, electric, water and mineral rights one can find a Phuket property suitable to purchase at auction. One of the best things to remember when buying a property that is too good to be true is that it probably is too good to be true and you may have missed something important in your research.

Scott Riefler is an expert in
Phuket Real Estate. He has
written several informative articles. He
regularly contributes articles on
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Many potential first time homebuyers are wondering what to expect when they approach a lender given the latest developments in the whole mortgage mess we are in. Will the required down payment be more than 5 to 10%? Are there any 0% down payment programs out there for first time homebuyers anymore? How does the first time homebuyer sort through all the changes that are taking place anyway?

Many first time home buyers have these questions as well as other pertinent questions on their minds. This is in part because of the current credit crunch that the United States is experiencing. The answers? Yes, there are 0% down payment programs available for the first time homebuyer still; however, many have stricter qualifying regulations. Being aware of the changes in the rules can help avoid stress and confusion during the buying process.

One of the first and most important things to consider is that credit scores are more important today then they ever have been. Chances are if you have any blemishes on your credit score at all a lender will not want to extend a 0% down payment loan to you. Therefore, before even beginning the process of pre-approval or shopping for homes and or lenders you will want to pull your own credit report. You can actually do this once a year for free from each of the three main credit agencies. Look at the report to see if there are any items listed that need your attention. Dispute anything that is not correct, if something has been paid in full but is not reported as such you can have that changed before a lender looks at the report.

You are likely to find that lenders are getting rather restrictive on a whole and particularly with the ratios that they use when qualifying for a loan. For instance, if you need private mortgage insurance, which is generally required for people who put less than 20% down, then the private mortgage insurance company might require a larger down payment. They may simply allow a smaller ratio as well; this will end up lowering the total amount that you are able to borrow. It is competitive today and despite the fact that people want and need to move the huge number of available homes off the market lenders want to make sure they will not be foreclosing on a home because of defaulted loans too.

Fully understanding all the rules and doing the foot work first is very important in this tougher mortgage environment; however, doing so will put you ahead of the game and help to secure your mortgage and your first home.

J Stromsteen has many years expertise in the finance, real estate, and insurance industry. She contributes to various websites such as First Time Home Buyer where you can find today’s mortgage rates as well as a wealth of information on getting a First Time Home Buyers Loan .

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Investing in real estate can be a profitable way to increase your wealth in two ways. The first is simply the gain on the property when you sell it. The second is that if the property is leased it can generate an ongoing stream of revenue. In some cases that revenue stream can be enough to pay the mortgage on the property every month.

Most commercial properties depend on rental revenue as a primary factor in their income projections. The value of the property includes the discounted value of the rental revenue in the calculation, as well as the value of the building itself and land.

Residential property, especially single family homes, usually sell on a square footage basis and don’t consider any leasing income in the determination of value.

Tenant Screening is a critical aspect of successfully managing a portfolio of residential rental properties. The wrong tenant can not only result in lost revenues but property damage as well.

Different states (and countries for that matter) have different rules, regulations, and laws which determine when and how a tenant can be evicted. The process can take up to a year. Not only do you lose the incoming cash flow from the rental payments, you have the additional expenses of paying an attorney to handle the eviction. A pre-leasing investigation known as a tenant report can help you avoid this situation.

While it’s important to real estate investment companies to make sure that their tenants are financially stable, it’s critical for individual investors. The loss of rental income from just one property can be devastating to an individual. The property can’t be leased again until the current tenant is evicted for nonpayment.

Most investment companies have a number of properties and can absorb a loss on an occasional basis. Individuals who invest in residential properties that they intend to lease must complete the required due diligence to assure themselves that the tenant is credit worthy, ethical, and doesn’t have a history of property damage, a criminal record, or prior evictions. A rental application is just the first step in this process. Tenant reports verify that the potential tenant is who they say they are by checking social security numbers, driver’s license, prior addresses, and of course that they have the financial wherewithal to make the rental payments.

Tenant credit reports verify any bankruptcies, short pays, loans and credit accounts, all important factors which should be taken into consideration when signing a rental or lease agreement. A tenant who has not historically been financially responsible in the past has a much higher probability of being irresponsible in the future. In other words if there have been problems in the past with making the rental payments on time and in full, those problems will most likely continue in the future.

While in most cases the landlord won’t be held liable for any criminal activities that take place on their premises, their insurance will most likely increase.

If you’re considering investing in residential real estate and leasing the properties, there are services which will compile a tenant report for you. It’s money well spent.

Find out more about tenant reports Dee Power is the author of several nonfiction books and the novel “Over Time.” Her business websiteprovides resources for entrepreneurs

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One of the more recent developments in the Austin real estate market are the multitude of loft condominiums springing up smack-right in the middle of downtown. This new push towards urban living reflects an interest in a pedestrian-oriented community, optimal for those who work in Austin’s business center, but also attractive to others who appreciate an abundance of amenities offered within walking distance. Downtown Austin has much to offer Austin residents, whether they work, live, or visit this area which truly represents the cultural heartbeat of the city.

Austin’s downtown is bursting with shops, cafes, galleries and nightlife. Whether looking for antiques at the beloved Whit Hanks, seeking esoteric ethnic treasures at Tesoros, or shopping for home furnishings at Bella Home or Zanzibar, the shops are local, and the wares are unique. In addition to Starbucks, there are plenty of cafes around, including Little City, and Drogo’s Cafe do Brazil. Art galleries, including Art on Fifth and Artworks, are scattered throughout the area, and the nightlife well, it can’t be beat.

Most of the new lofts are far enough away from the entertainment districts to provide relative quiet, but are close enough to make a night out on the town just a short walk or cab ride away. The bars, music venues and restaurants of the famed Sixth Street district now have competition from the bustling young crowds of the Red River scene. The Warehouse District continues to be one of the most vibrant entertainment areas in the city, although the new 2nd Street shopping and dining area is thriving as well.

Downtown Austin is home to some of the finest restaurants in the city. Louie’s 106 has enticed downtowners with its Mediterranean tapas and steaks for years, and the Driskill Grill offers another close fine dining experience. Eddie V’s and McCormick & Schmick offer seafood, and Sullivans, Ruth’s Chris Steak House and Fleming’s are steak houses. The varieties of food run the gamut as well from Spanish food at Malaga, to Italian at La Traviata, from sushi at Kenichi or Kyoto to Southwestern cuisine at Z-Tejas.

One the most attractive parts about Austin’s downtown is its proximity to the nature and beauty found at Lady Bird Lake, as well as the Town Lake parks and trails. The plentiful outdoor activities provide the urban dweller with opportunities to walk, run, bike, and boat - all within walking distance of the sleek and sophisticated apartment buildings springing up. Waterloo Park, Republic Square, and other smaller patches of green add to the options for outdoor activity.

Downtowners will find their grocery needs admirably met by the flagship store of the Whole Foods Market chain. This Austin-based business launched their enormous new store in 2005, making fresh and organic produce, dairy, meats and seafood available. In addition to staples, an on-site bakery and international groceries, Whole Foods offers an abundance of prepared foods, from soups, salads and sandwiches, to pizza, seafood and a raw foods stand.

With all of life’s necessities within walking distance, it is no wonder that Downtown Austin real estate is thriving as a residential community.

Ki is an Austin real estate agent. He runs a site with information about Austin real estate and a search of the Austin MLS. He also talks about current events on Austin real estate blog.

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Can the financial news get any more depressing? We are being reminded constantly by the media of who bad the economy is and you may be feeling that now would be a bad time to consider buying that first home. Gas prices are at record highs and inflation continues to increase faster than our incomes and the jobs are going by the wayside every day not to mention that real estate is being pounded by adjustable rate mortgages that are beginning to reset and result in higher payments and an increase in foreclosures. With all of these things is it really a good time to buy a house? The answer is absolutely!

It is true, many will tell you that the outlook to buy a new home is grim at best and reports say that existing home sales will decrease nearly 7% this year. Additionally new home sales are decreasing about 3 times that and it is getting so desperate that some developers are offering unique and extravagant deals on homes including two for one deals. Still, if you have available funds to secure the financing this is a great time to take advantage of all the incentives and buy that first home. The housing crisis is more of a problem for the individual who needs to sell an existing home before being able to buy a new home; for the first time home buyer they avoid that and can just buy.

No funds right this minute? That is probably OK because the housing problems is expected to continue for the next 2 to 3 years and therefore you have time to prepare. There is currently and is expected to continue to be a significantly higher number of available homes than qualifying buyers. This means that the first time home buyer who has good credit and a down payment can benefit with a large choice of homes that are selling for great prices; a market view that is called the buyers market.

Buyer’s Market

A large number of homes for sale, fewer people buying homes, home prices dropping continuously and interest rates not out of control yet; these are just a few incentives to buy now. Throw into the mix the deals and incentives the developers, builders and real estate agents are adding to the mix to try to move the homes and move new owners in and the tax credit from the government and how can you not buy now? Still not sure if you are ready? Ask yourself a few questions: Is your credit score in good shape or can you easily raise your score? Do you have assets that you can liquidate to get a down payment? Do you qualify for the incentives? If you answered yes to these questions you could be moving into your dream house this year. Additionally, with the buyer’s market you are almost guaranteed to be able to buy more house than in years past. So stop holding out - buy now!

J Stromsteen has many years expertise in the finance, real estate, and insurance industry. She contributes to various websites such as First Time Home Buyer where you can find today’s mortgage rates as well as a wealth of information on getting a First Time Home Buyers Loan .

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