3 Tips To Buy Cheap Government Seized Houses

Countless assets owned by private entities are being seized by the government every single day. These assets range from cars to boats and furniture to homes.

Among these things, nothing has more value than government seized houses. Almost all the other items depreciate in value; unlike government seized houses which actually increase in market price over a period of time. It is therefore a good idea to include government seized houses in one's options in buying a home.

Buying government seized houses is advisable not only to people who want to acquire a home, but to people who want to make good money out of reselling houses.

Here are some tips that can help you in finding your ideal home among the numerous government seized houses out there.

1. Consult The Experts

Always consult with an accredited licensed real estate broker when you are planning to buy from the many government seized houses. While you certainly have to incur commission expenses if you make use of their expertise, the good thing is you will have a worry free purchasing transaction.

Besides, the total acquisition cost of government seized houses including the broker's commission is still not that huge when compared to buying a new house.

2. Seeing Is Believing

Check out the government seized houses that are on your list. Remember that government seized houses are sold at bargain-based prices because the government does not normally repair or renovate them before being floated in the market.

Location, location, location

What’s the first thing you look at when searching for an attractive residential investment property? Do you look at the exteriors of the house since it’s the first thing potential buyers ever see, with a keen eye on impressive landscaping, manicured lawns, a fancy gazebo and an impressive outside fireplace? Or do you look for the house with the most impressive interiors, particularly the one with the best living room, kitchen, bathrooms and master bedroom? Or do you fancy yourself to be a cost-effective investor who searches for a potential dream house but one that is sold at the most affordable price?

It doesn’t matter if you’re looking for a piece of property for your own personal use or for investment purposes. Location is where you begin. The following is a checklist of basic questions when searching for the ideal location.

1. How is the local community, town or city? Is it safe? Are there nearby places that can meet your basic requirements such as a supermarket, schools, gas stations, hospitals or clinics, church, dry cleaners? Do the schools have a high standard of education? Are they overcrowded? Would you feel secure having your kids playing in front of the house? How is access to local highways, major traffic routes, and mass transit services?

2. Is it economically stable? Are the businesses in the area flourishing? Is there a good mix of commercial and business districts? Are there enough business endeavors to provide ample job opportunities?

Make a Few Changes in Your Real Estate Business Model & Create a Quantum Leap in Your Closing Ratio

Real Estate Professionals-Embrace Change as an Opportunity

Did you realize that new technology is making it possible for you to do business at a level of sophistication, impossible to reach in just a few years ago?

To get an idea of how much more value you could be providing for your clients, please ask yourself the following questions:

* What would happen to my business if I could find a way to have more control over the loan process and see it through to completion each and every time and never miss a loan commitment deadline or closing?
* What if, by the virtue of creating a strategic alliance with a team, I could close more sales and increase my income?
* What if, I could have control over how mortgages are priced for my clients?
* What if, I could also get quality referrals from some of those clients that I am not closing now and get more referrals from my present clientele, because they were even more satisfied with my service?
* Working with your team would be like having my own Mortgage Company just as some Real Estate Companies and Managing Brokers already have, but without the hassles and added expense they experience?

Here is what one of our Strategic Alliance’s client had to say: "I have chosen to take on the mortgage business as a serious part of my real estate business for a few reasons. I have worked with Steve Toth in the past and trust his ability and judgment. I can see the financial potential of offering mortgages to my clients who already trust in me and depend on my services. Having control over such an important part of a real estate transaction gives me a lot more confidence" -Jared Faris-Realtor Keller Williams Realty

* What if, you could work with industry leading mortgage professionals using a consultative and solution oriented process to ensure that you and your clients are comfortable with the entire process from initial pre-qualification to the closing and servicing of their loan?
* What if, your team was a direct lender, offering enhanced control over the various stages of the mortgage process and maintained on-site control of Processing, Underwriting, Document Preparation and Funding?
* What if, your team understood that not every borrower fits into the traditional banker’s box and they had a keen focus on alternative loan products and help you convert more of your existing prospects into clients and closed transactions?

Growing up is Optional

A recent poll in England on people approaching retirement age revealed that over 50% were considering retiring to a warmer country. Spain was by far the first choice of destinations. Economics were the first reasons cited, with climate and pace of life following.

There is no way to identify from initial enquiries what age the person is, but not too much land, easy access to shops as requirements are good indicators, plus the “old give away” better spelling and formal use of grammar in emails! I am still often surprised by them when we finally meet in the office. Most of them are very positive and well informed on the implications of their move, with knowledge of the systems for retiring here ie pensions and health care issues. Some comments made by this group once they have settle, are lovely ……………

He was easier to live with, when he was out to work all day

I see more of my children and grandchildren since moving here!

I always wanted time for a hobby, now I have so many hobbies it’s like full time work again (was this comment a moan or bragging?).

It’s true, the more you have to do the more you achieve (well not in this office!)

The days in Spain are so much shorter. (This comment still makes me smile.)

What does it feel like being retired in Spain? (I will let them know in a good few years, a quick look in the mirror confirms a tired look, must get an early night!)

When I was in my late teens an elderly French woman living opposite my flat befriended me. Softly spoken, very independent and proud she invited me into her home. I was fascinated with her life story and wisdom. On the subject of age her accented voice I can still hear. “Don’t dust the mirrors too often”; “soft lighting will put you and your guests at ease.” “If there is nothing to laugh about use your memory to go back to a funny moment”. “Don’t stop eating what you like as you get older; be grateful you have the choice”. “Worry not about tomorrow, just hope that it comes”. There were many pearls of wisdom this eighty something lady offered me. Less than a quarter of her age, I did not understand their importance but her most often used line was, live each day with the person you love as though it is the last one you will have together. As I get older I see that time is precious, this point has started to be relevant. So all those things I have always wanted to do I plan to achieve soon, as later may just be too late!

Passport to Integration

Yes we need the passport to travel and most of us use it as a form of ID once we first settle here, but the passport I am referring to is not paper. With more and more families with young children relocating in this area they are the ones with the special passport.

Children are treasured here as they are perceived as the future of this country. With a falling birth rate, Spain welcomes families with open arms. Children integrate fast especially if they are under ten years old. The change of language and culture does not seem to faze them.

Once the young ones join the local school, the invites and involvement in community events start. The children are the reason on both cultural sides, all benefit from this liaison, not only in language but broadness of understanding. Children are the common link and from the friendships they form at school their parents are absorbed speedily into the Catalan way of life.

As an estate agent, I cannot answer, the often anxious questions from parents about how their children will cope with the changes. I cite the families I know and how they have integrated, make a few phone calls and introduce them to others who have already settled here. These families are the people I admire the most, their firm belief in making the change in location to benefit the family is only matched by the speed in which their children help the parents integrate. I wish I had moved here years ago with our daughter and given her the multicultural advantage these children have.

We live in a village but work in the city of Tortosa, the positive changes and attitudes have surprised us over the last few years. With courage the little tots come and say “hello” often with the praise from the adult accompanying them. On a daily basis I get purloined in shops and cafes by all generations wanting to practise their English language skills. With their enthusiasm it is not always easy to stop them and get the exchange balanced, how many of us have got a Catalan or Spanish phase rehearsed only to have the response returned in English. But we keep trying if only to amuse, also the follow incident which happened last year still makes me smile.

Make a Few Changes in Your Real Estate Business Model & Create a Quantum Leap in Your Closing Ratio

Did you realize that new technology is making it possible for you to do business at a level of sophistication, impossible to reach in just a few years ago?

To get an idea of how much more value you could be providing for your clients, please ask yourself the following questions:

* What would happen to my business if I could find a way to have more control over the loan process and see it through to completion each and every time and never miss a loan commitment deadline or closing?
* What if, by the virtue of creating a strategic alliance with a team, I could close more sales and increase my income?
* What if, I could have control over how mortgages are priced for my clients?
* What if, I could also get quality referrals from some of those clients that I am not closing now and get more referrals from my present clientele, because they were even more satisfied with my service?
* Working with your team would be like having my own Mortgage Company just as some Real Estate Companies and Managing Brokers already have, but without the hassles and added expense they experience?

Here is what one of our Strategic Alliance’s client had to say: "I have chosen to take on the mortgage business as a serious part of my real estate business for a few reasons. I have worked with Steve Toth in the past and trust his ability and judgment. I can see the financial potential of offering mortgages to my clients who already trust in me and depend on my services. Having control over such an important part of a real estate transaction gives me a lot more confidence" -Jared Faris-Realtor Keller Williams Realty

* What if, you could work with industry leading mortgage professionals using a consultative and solution oriented process to ensure that you and your clients are comfortable with the entire process from initial pre-qualification to the closing and servicing of their loan?
* What if, your team was a direct lender, offering enhanced control over the various stages of the mortgage process and maintained on-site control of Processing, Underwriting, Document Preparation and Funding?
* What if, your team understood that not every borrower fits into the traditional banker’s box and they had a keen focus on alternative loan products and help you convert more of your existing prospects into clients and closed transactions?

Location, location, location

What’s the first thing you look at when searching for an attractive residential investment property? Do you look at the exteriors of the house since it’s the first thing potential buyers ever see, with a keen eye on impressive landscaping, manicured lawns, a fancy gazebo and an impressive outside fireplace? Or do you look for the house with the most impressive interiors, particularly the one with the best living room, kitchen, bathrooms and master bedroom? Or do you fancy yourself to be a cost-effective investor who searches for a potential dream house but one that is sold at the most affordable price?

It doesn’t matter if you’re looking for a piece of property for your own personal use or for investment purposes. Location is where you begin. The following is a checklist of basic questions when searching for the ideal location.

1. How is the local community, town or city? Is it safe? Are there nearby places that can meet your basic requirements such as a supermarket, schools, gas stations, hospitals or clinics, church, dry cleaners? Do the schools have a high standard of education? Are they overcrowded? Would you feel secure having your kids playing in front of the house? How is access to local highways, major traffic routes, and mass transit services?

2. Is it economically stable? Are the businesses in the area flourishing? Is there a good mix of commercial and business districts? Are there enough business endeavors to provide ample job opportunities?

3. How are the local government services? Are the roads all paved and well-maintained? Is there a capable police force and a dependable fire station in the vicinity? How do local crime statistics compare to national levels? Are there regular community events such as an annual parade and activities for children, teenagers and the elderly?

American Dream 2007: Keep Those Real Estate Properties Financed!

If you had enough money to pay off your mortgage right now, would you?

Many people would. In fact the American Dream is to own a home - and to own it outright, with no mortgage. Imagine owning your home without having to send a cheque to the bank every month, the feeling one will enjoy when - after thirty long years - the moment finally comes to make one last payment so that the house is paid off, at last. Being so fortunate must evoke a sense of security, gratification and well-being that anyone only can dream of.

But if in fact the American Dream is so wonderful, how come thousand of financially successful people - folks who have more than enough money to pay off their mortgages right now - refuse to do so? Why is it that a small group of Americans and Canadians, who are invariably among the wealthiest five percent of the population, insist on carrying on a mortgage even if they can afford to wipe it out entirely today? Because they are aware of the biggest untold secret of homeownership: a mortgage is primarily a loan against the borrower's income, not primarily against the value of the house. It this was not the case, then naturally anyone with a $30,000 annual income would qualify to purchase a multi-million dollar mansion.

All of which, then, makes the whole difference in the world when it comes to a process known in Economics as the accumulation of wealth. Prosperity in any society and at any given time is the epitome of financial stability, reliability, and security. Specifically in Capitalism, additional capital value (commonly referred to as ‘surplus value') is what drives the accumulation of wealth. Although capital accumulation does not necessarily require production, ultimately the basis for it is value-adding production which makes net additions to the stock of wealth. Capital can accumulate by shifting the ownership of assets from one place to another, but ultimately the total stock of assets must increase. Other things being equal, if surplus value fails to grow sufficiently, the level of debt will increase, ultimately causing a breakdown of the wealth accumulation process.

This is exactly the reason why saving money has never made anyone rich. For some obscure logic people generally tend to equate the concept of saving money with that of making money, yet the two are not synonymous. As people want to save money in interest payments, they will go the extra length to pay off their mortgages. With that issue out of the way after a considerable number of years, they then start focusing on saving for retirement and do their best to save regularly. As a result, they fail to accumulate wealth and cannot figure out why.

The issue is relatively simple, though not necessarily transparent. By prioritizing mortgage repayments, they fail to consider the role that mortgages play in their wealth building process. The battle to reduce interest expenses is won, but the wealth accumulation war is lost. The reason is that every dollar they have returned to the bank is a dollar they have not invested.

The Benefits of Getting a Professional Home Inspection

What is a professional home inspection?

Professional home inspections are becoming an important factor for everyone seeking or planing to buy or sell a home. A home may look to be in very good condition but if we go through the things that can’t be seen with the eye we may find issues that need to be addressed. The need of a professional home inspection is increasing day by day because of increasing litigation due to unknown or undisclosed defects.

A normal individual is not supposed to be the expert of all these technical details. This leads to the need a professional home inspector who inspects the home. A typical home inspection will take several hours to complete. If testing is being done for things such as mold, radon, etc it could take several days to get these results back from the lab.

There are many advantages or benefits to hiring a professional home inspector, some of these benefits are:

Benefits for the buyers

1) With a professional home inspection a buyer can calculate the most realistic price of the property he is going to buy. However, in most cases, the inspection is done after negotiating the price. The home inspection results can be used in negotiating repairs or if the repairs are extensive a buyer may want to back out of the transaction if the contract allows it. The buyers can compare the features and drawbacks with the similar properties available in the same condition.

2) Ridding the buyer from the stress of legal or documentary formalities as the inspector will provide a written report.

3) A Buyer can better guess the possible lifetime of the structure; this will enable him in planning the prospective use of this structure.

4) A buyer can better understand the impact of any unknown natural disaster on the home structure.

5) This could also save hundreds of dollars by making the buyer aware of repairs needed at the surface, fitting, flooring or roof of the structure as well as electrical and plumbing.

6) It satisfies a buyer by familiarizing them with all the maintenance and repair details, well in advance.

Why Do You Need Help Buying Or Selling Your Home In The New Market

Since the latter part of 2005, it seems like Real Estate signs are popping up in yards like weeds. As of July 31, 2006 there were 15,743 listings on the market for Pinellas County (9,549 Single Family Homes and 6,194 Condos). With this many homes on the market, it begs the question – Why Do You Need Help Buying Or Selling Your Home In The New Market?

As anyone who has been in the market for a home recently knows, there are A LOT of homes to choose from. If a buyer is not specific with their criteria the number of possibilities can be overwhelming. By sitting down with an agent, the homebuyer can discover what is truly important to them and only look at homes that meet their exact requirements, including location, price or features.

Once a property has been selected, the buyer’s agent can also help negotiate the best possible price for that home and also make sure that the buyers financing needs are all met. Most agents have a good working relationship with a lender who can facilitate a smooth financial transaction for the buyer. In addition, more buyers are able to take advantage of seller assisted closing costs and other creative financing options which their agent will help them to negotiate during the offer.

Having an agent on their side in this market is also vital for home sellers. With all of the local competition it is not enough to just put a house in the MLS system and hope it sells. Agents are now utilizing every avenue available to market their listings including direct mail, the internet, homes magazines and on-site events like Broker’s Open Houses and Public Open Houses. Additional ideas like increasing the buyer’s agent commission, offering bonuses and assisting with buyer’s closing costs are also methods that can generate buyer interest.

FHA Mortgage Loans

FHA mortgage loans are alternatives to conventional financing for your home purchase. The FHA (Federal Housing Administration) helps to make low cost home loans available to thousands of new and current homeowners each year. FHA mortgage loans require minimal down payments and the interest rate is typically slightly lower than prevailing conventional rates.

The FHA currently insures more than 800,000 mortgage loans. This agency has helped originate more than 33 million since it was created in 1934 as part of the New Deal. The FHA does not fund the mortgage loans itself. It does insure the lender that it will not incur any loss if the borrower defaults. In this way, lenders are encouraged to make loans to low and middle income borrowers to whom they would not otherwise extend credit.

Buyers of single family homes can put as little as 3% down when obtaining an FHA mortgage loan. Good credit history is not necessary, although is definitely a "+." Income to loan payment, and to total monthly payment, ratio requirements are slightly less stringent than for conventional mortgage loans. The FHA sometimes will also help finance the closing costs. Ask your lender about this. Requirements for this kind of assistance vary widely from locale to locale.

This sounds pretty good, doesn't it? Well, "not so fast..." The FHA requires extensive property inspections that cost the seller lots of time and money. Largely because of this, most sellers will not accept an offer if the buyer intends to obtain FHA-insured financing. The acronym "FHA" unfortunately has acquired bad connotations for many real estate professionals and their clients.

Also, the FHA severely limits how much the lender can charge in fees. The bank cannot lose money because of the FHA insurance. However, it cannot profit as much as when it commits its money to other mortgage loans. Lenders have to be FHA-approved in order to make FHA mortgage loans. Few lenders choose to become FHA-approved.

Legal information available to RE execs on NY State Bar Association Web site - Technology - real estate executives

Real estate executives can now access valuable legal information and resources, including legal referral services and educational brochures, from the New York State Bar Association's recently redesigned Web site (http:www.nysba.org).

"Access to information is key in navigating our legal system," said Lorraine Power Tharp, president of the New York State Bar Association and a partner-in the Albany law firm, Whiteman Osterman & Hanna. "Our new site is a go-to source for comprehensive information about New York State law, legal services and procedures. We hope it will be a valuable tool for those seeking legal assistance, as well as for the attorneys who provide it."

Among the resources the site provides for the general public are:

* A lawyer referral and information service designed to help individuals find an attorney or other legal resources, including legal organizations and pro bono lawyers. For added convenience the information is organized by county.

Don't Bet on California Real Estate

After hearing the news, and seeing the trends, it’s obvious that the California Real Estate market is in a slight ‘recession,’ and some people have already started to see the equity of their homes decline. Real Estate does tend to go in cycles, up for a number of years, than down. Sure, the record low interest rates a few years ago helped climb the price of homes, but now it’s that time where prices are waning and investors are looking for something more lucrative.

It was only time before the market cooled off. Many economists were surprised that housing took so long to cool off, as a matter of fact. A million dollar home in California costs about $200,000 in states such as Tennessee. It’s a huge misconception that the ‘heartland’ of the country has nothing fun to do. Tennessee is home to many relaxing and fun activities. There are many Golf Course gated communities, such as Grand Valley Lakes located right near and on Deer Creek Golf Course. Besides for that, many rivers and lakes flow all over states like Tennessee and Texas.

Texas’ beautiful large size and resources make it extremely profitable and fun. Developing communities surrounds Rivers and lakes, such as Lake Livingston. You can find a very low priced piece of land in such an area, build up a house, and either sell it for huge profits or even decide to live and/or retire there!

As you can see, the California real estate market is extremely vulnerable. However, this means that more investors will seek out other real estate investments, and developing communities is an excellent way to both help the country grow and make a generous profit.

Cooling Market - Marketing is Key

The much anticipated slow down in the Real Estate Market has finally arrived. It has been a talking point of significance over the past 18 months as house prices has risen to a point of exasperation. Hillsborough County's housing market is now in a stage of uncertainty however it may not be as distressing as anticipated.

The problem with the market right now lies with 2 main factors, overpricing and inventory volume. As you drive around your neighborhood the number of For Sale signs in peoples yards are astounding. Everybody who did not delve into the market over the past 3 years seems to now be trying to squeeze every last dollar out of it. The worrying factor is that all overpriced. Uninformed sellers seem to be pegging their homes prices to sales during the past year. This is a huge mistake and is having a serious affect on today’s market. In fact inventory has quadrupled, there are more choices out there for buyers, and gone are the days when listing your home with a broker and getting multiple offers within hours or days. We probably won't see a market like that again for several years.

However it’s not all doom and gloom for those who have the house on the market today. Realtors today must tailor there marketing ideas to educated potential clients of the importance of marketing there home. Whether it be by creating a website or advertising in a magazine there are a number of creative ways realtors can highlight there listings. Exposure is of the utmost importance and the key element to help drive traffic to your listing. People want choices; and interactive marketing can help potential buyers compare the choices available to them. Putting a sign in your front yard is no longer the only selling tool that is needed. So the next time you speak with a realtor who guarantees to sell your home, ask them this key question. How are you going to sell my home? For more information on how marketing a home will lead to a quicker sales and more interested potentail buyers check out.

Evolution of the Virtual Tour in Real Estate

In the early 90’s, home buyers started heading out in a new direction to look for homes. It was this thing called the internet. It provided information, or at least held that promise, convenience and most important of all – it provided anonymity! The only problem was, in the early 90’s their just wasn’t a lot of information out there when it came to real estate and homes for sale.

Realtors started to catch on and along came the concept of “Virtual Tours”. Realtors wanted to provide potential home buyers, at least those using the internet, a way of touring the home from the comfort of their computer. They provided little in the way of information, since that is what Realtors hold dear and don’t want to give up easily.

Virtual tours started to pop up around the internet. In this first incarnation a virtual tour referred to basically a page on the internet that had a picture of the front of the home and perhaps some interior photos. This evolved later into a page of photos along with some music. There was more of a wow-factor for the seller to see their home showcased this way, but provided little for the buyer.

Then came “stitching” software. This allowed Realtors to take several photos (of the exterior for example) and “stitch” them together into a 180-degree panorama. These wide panoramas could then be put on the internet either as a still photo or, thanks to JavaScript, animated to move from side to side. Realtors were getting closer to the “Virtual Tour” concept.

After a little while, the idea of “stitching” photos progressed to the next logical step. Panoramas started showing up that were 360-degrees. This gave buyers a much more realistic impression of a home and it’s surroundings.

A company called iPIX truly revolutionized this concept though with it’s creation of true 360 by 360 stitching. This meant that you could have a virtual tour that went 360-degrees horizontally AND vertically. Buyers could now see those grand two-story foyers, staircases, the tops of trees and more! This was the true virtual tour, or was it?

Realtors may have finally delivered on their promise of Virtual Tours. In the last couple of years we have seen entire websites devoted to showcasing a listing of a home for sale. This gives potential home buyers the most amount of information possible. It meets all the requirements that they were looking for years ago when they first started flocking online. It provides information, more than they could possibly hope for, convenience and most important of all – it provides anonymity! The best home websites include an unlimited amount of photos, links to maps, local schools, mortgage information, property documents such as disclosures and surveys, the ability to schedule a viewing and even print of a brochure!

So, if you’re a home buyer, be on the lookout for these websites – they will truly give you a “Virtual Tour”. And if you’re considering selling your home, don’t just ask your Realtor if they provide virtual tours – ask them what kind of virtual tours! Virtual Tours have really come a long way. What’s next? Well, wait and see!

Basics of Real Estate

Real estate refers to immovable property such as land, which also includes rivers or streams that may be part of the land, as well as any physical structures that may be affixed to the land like houses, buildings or commercial establishments.

The terms "real estate" and "real property" are often understood to mean the same thing, although in some circles, real property refers to the rights of the owner over the real estate. Both terms are used mainly in common law, which is further divided into property law, the laws that refer specifically to the property, and contract law, the laws which refer specifically to the rights of the person over the property.

For centuries, people have viewed land as the primary measure of wealth. Even today, land comprises a large part of the fortunes of the wealthiest individuals and nations. Developing countries who are rich in real estate use this to attract foreign investments that can spur economic growth. However, in recent years, economists have noted that the key real estate investments into developing countries have been derailed by the lack of effective laws to safeguard such investments.

The leading source of capital for purchasing and developing land real property is mortgages. These are loans that banks grant to individuals who use the real property as collateral. Mortgages are favorable endeavors for banks because they can't lose: either the borrower successfully repays his loan with interest or if the buyer cannot pay his loan, the bank can claim the rights to the property through foreclosure, which is an action that is decided in a court of law. Once the property is foreclosed, the bank can sell it to recoup its loan.

This is where economists raise a howl. An analysis of international banking and real estate laws reveals that, in many developing countries, there is no effective way for a lender to foreclose. With no legal or institutional protection, many investors are discouraged from investing in real estate in developing countries. Often, the mortgage loan industry is only open to a select few, mostly engaged in by a cabal of well-connected families who frequently use their social connections in matters of foreclosure.

Real Estate Lead Generators; Business Building Ideas Are All Around You

When I first got licensed to sell real estate I was about as clueless as they come, but what I lacked in knowledge and ability I made up for in desire to learn and willingness to learn. So, I went to school after finishing real estate school.

No, not a school with a sit down classroom, but school in the sense that I started asking questions of veteran agents and watching what they did and said. I turned off my mouth after a while and opened up my eyes and ears and learned more doing that than I did while getting licensed.

For example, I learned that Real Estate Lead Generators abound, and everyday I was presented with opportunities that had I not been tuned in to pay attention to would have gone overlooked.

Here's a case in point with respect to business cards. I don't remember exactly how many business cards came with my first order, but I vaguely remember it being 500-1,000 cards. A year later I still had most of them. It was the craziest thing that I could have done!

Think about it! Instead of making it a point to give them away as fast as I could I was actually rationing them out like I didn't want to unload them.

Don't make that mistake! Business cards are great real estate lead generators and should be given out as freely as you would a glass of water to a thirsty person. And that's just what real estate prospects are. Thirsty to make real estate transactions with real estate agents sharp enough to recognize the opportunities.

Admittedly, I wasn't too sharp back then, but as I got smarter I realized the value of handing 3-4 business cards to everybody I came in contact with-and I mean everybody; my kids teachers, my doctor, your doctor, the school crossing card, my mechanic, dentist, etc.

And then there were the scores of counter tops that I encountered everyday. Grocery store counters, dry laundry counters, fast food pickup counters, counters where I paid the cable bill, bought computer stuff, book counters, etc.

Oh, and less I forget I must have passed by hundreds of billboards without placing one business card, real estate flyer or anything else on it. My stomach still knots up when I think of all the money those wasted opportunities cost me.

But like I said, I'm a lot smarter now (okay, so maybe I'm just older) and can pass on some pearls of wisdom to you so that you can avoid some of the mistakes I made. For example, some other real estate generating ideas include:

Real Estate Leads from Contractor and Home Builder Shows.

Real Estate Contractor and Home Building shows are becoming extremely popular among folks who are looking to build their home or are considering having one custom-built themselves. Getting Real Estate Leads from them is a great a strategy that's easy to implement.

Real Estate Closing Gifts; Small Gifts That Lead To More Referrals and Sales.

Many Real Estate Agents think of real estate closing gifts as something that should be given to the home buyer by his or her close family and friends. The gift serves as an accolade for the person's accomplishment. You can design them yourself if you're the creative type, or simply go out and buy one from your local shopping mall.

Free Website Content; Using Free Content To Generate Leads.

Everything you need to know to build a realtor web site and generate leads is available on the Internet, much of it free to little cost-including website content! In fact, some of the best real estate information I've read has been free, and although locating quality free content for publication and turning them into HTML to publish on your web site each week involves a great deal of time and effort it can be worth the effort.

Beware The Overseas Property Scammers From Hell

A property scam story in the UK Daily Telegraph recently has highlighted, yet again, the need to be cautious when dealing with prospective ‘cash’ purchasers abroad and has prompted me to relate a similar tale that happened to us.

The Telegraph story concerned a lady who was selling a property in France and who had a buyer offer her more than the asking price over the telephone without ever seeing the house. (Alarm bells should already be ringing!)

This ‘buyer’ then sent her an international money order including an extra £12,000 to cover his ‘legal costs’ which he asked her to send on to his ‘lawyers’ once the money order had been credited to her account. Of course, as soon as the money order went into her bank and was shown as a credit her buyer was on the telephone constantly to transfer the £12,000 so as to ‘get things moving quickly’.

She, very wisely, refused to do this until the money was actually cleared into her account. It is not widely known that just because a money order or bank draft is credited to one’s account it does not mean that the funds are cleared. (This, I think, is yet another glaring fault of the banking system - but that’s another story.)

Sure enough, after the ridiculous wait of ten days the money order ‘bounced’ and her bank was very quick to remove the credit from her account. Her ‘buyer’ was never heard from again! Had she succumbed to the pressure she would now be a lot worse off. Fortunately she had the sense to wait and in so-doing foiled the scammers.

Our story is a similar scam but a very different method. We had a property for sale in Fuengirola, southern Spain last year and were approached by a man who was looking to buy investment properties in our area. He at least came to see the property and tried to look the part of the businessman that he purported to be. (Shame about the cheap suit and the ridiculous Panama hat!)

He went away to confer with his ‘business associates’ and said he would telephone us in a couple of days. This he did and, good news, he would like to go ahead and purchase our property. Unfortunately, because of his ‘business commitments’ he couldn’t come back to the house so could we meet him at his hotel in Torremolinos? At this point we had nothing to lose so off we went the next day.

We rang him as we got to the hotel and he was too quick to meet us on the pavement outside and suggest we go to a nearby bar to have a drink and talk over the deal. After a cursory attempt to haggle he agreed to our asking price of 455,000 euros and we shook hands on the deal. There were just one or two small details to work out!

Firstly, because of tax reasons, he would be making the purchase through a colleague in Belgium who would do all the necessary money transfers and sign all the paperwork. No problems so far, it didn’t worry us whose name was on the deeds.

Next he wanted to pay 200,000 by bank transfer and the balance of 255,000 by cash. Now, while this is not unheard of in Spanish property deals, that’s an awful lot of ‘black money’. We carried on listening.

Ah! But the cash he has is actually only in sterling so he would give us the equivalent in sterling plus 10% for our trouble. We’re starting to lose interest now but we kept him going.

Just one small problem. For tax reasons (again?) he can’t get to Belgium to pick the money up so could we go and pick it up ourselves and once we’re back in Spain with it he would make the transfer of the other 200,000 from his office in Monaco. He makes a point to remind us that he’s trusting us with his 255,000 euros in cash as a goodwill gesture to show he’s serious. We’re finding it hard to keep a straight face at this point.

The best he saved until last. His Belgian ‘colleague’s’ fee for processing the deal is 45,000 euros in cash but he won’t accept the equivalent in sterling because it would be too risky to change that amount overseas.

Our man then said that he would add this 45000 euros (plus 10%!) to the previous euro figures making a total amount of 330,000 euros to collect in pounds sterling (approx £235,000) and giving us a 32,500 euro profit over the asking price.

So if we could just take 45,000 euros cash (of our money) to Belgium with us to hand over to this man, once he has handed over to us the 235-odd thousand pounds in cash of course, then everything will be tickety-boo! Believe me, he was quite serious.

By this time we had completely lost interest and just wanted to go and do something else. Anything else but listen to this idiot! We made our excuses and said we’d think about it over the weekend. I know it’s not funny but we had to have a chuckle on the way back to the car.

Sure enough, on the following Tuesday he was on the telephone asking when we would like to go ahead with the deal. But if we can’t act quickly he would move on to the next investment property and the ‘opportunity’ would be lost. I can’t recall what I said to him but I’m sure it had something to do with that old sailing term, ‘chucking anchor’!

I sincerely hope that no-one out there has had the mis-fortune to come across this odious little man and been taken in by his preposterous proposition.

In matters of property abroad, my only advice is this: Be alert, be aware and unless the money’s up front and sitting in your bank, don’t believe a word anyone says to you.

Soft But Not Dead

Looking back to these past few months we get a general picture of falling housing prices, suggesting once more that Newton's Law of Universal Gravitation, encapsulated in the dictum "Everything that goes up must come down" is absolutely true and that, furthermore, it applies even to Real Estate. But when it comes to housing prices the real question becomes:"Come down from where?"

According to the Office of Federal Housing Enterprise Oversight (http://www.ofheo.gov/) the average price of a house rose by only 1.2 percent in the Second Quarter, the smallest gain since 1999 - but a gain nonetheless. OFHEO reports, furthermore, that the past year has seen the sharpest slowdown in the rate of growth since the Office began to keep track of the housing price index all the way back in 1975. Even so, average prices are still up by 10.1 percent compared to a year ago.

This is much stronger than the index published by the National Association of Realtors (http://www.realtor.org/), which showed a rise of only 0.9 percent in the year to July. Economic analysts generally speaking prefer the OFHEO index, since it is thought to be more reliable because it tracks price changes in successive sales of the same houses over time and therefore, unlike the NAR index, is not distorted by a shift in the mix of sales to cheaper homes.

All of which, then, brings up to mind the fact that it is not only the foresaid Newton's Law that applies to Real Estate, but also another very important scientific theory as well - Einstein's Theory of General Relativity, which can be encapsulated in the dictum "Everything is relative".

‘Stickiness' is a noun used in Economics to describe a situation in which a variable is resistant to change. Price stickiness, therefore, reflects the fact that asking prices of interests in land remain high and even increase at a time when demand lowers. For example, nominal asking prices are often said to be sticky. Market forces may reduce the real value of interests in land, but prices will tend to remain at previous levels. Stickiness normally applies in one direction, which means that a variable that is "sticky downward" will be reluctant to drop even if market conditions dictate that it should.

Price stickiness, in any market, is responsible for and reflects some confusion that exists between nominal and real values and gives rise, moreover, to a particular phenomenon known as the ‘Money Illusion'. Money illusion refers to the tendency of people to think of prices in nominal, rather than real, terms. The term was coined by John Maynard Keynes in the early twentieth century.

Money illusion does influence people perceptions of outcomes. Experiments have shown that people generally perceive a 2 percent cut in nominal income as unfair, but see a 2 percent rise in nominal income where there is 4 percent inflation as fair, despite the fact that the two situations are almost rational equivalents. The same happens in Real Estate, where the trend is for asking prices to remain high or even increase when selling prices are dropping.

Furthermore, money illusion means nominal changes in price can influence demand even if real prices have remained constant, thus causing what it is normally referred to as ‘market disequilibrium'. Adam Smith maintained that the free market would tend towards economic equilibrium through the price mechanism, that is any excess inventory will lead to price cuts which will decrease the quantity supplied and increase the quantity demanded.

There are, however, exceptions to the rule. One such exception is the situation wherein market participants are always trying to take advantage of the pricing system, thus infusing some dynamism in the market. This situation arises in markets that are ‘imperfect', such as Real Estate, where information about goods is not shared equally and evenly by market participants.

This explains, therefore, the OFHEO price index as above and its increase of 10.1 percent compared to one year ago, which increase is by no means unique to the United States. A similar study conducted by the Office of Federal Housing Enterprise Oversight to compare markets outside the United States with the domestic ones has found that prices in Canada are up 10.8 percent to a year ago. Denmark tops the list with a staggering 23.6 percent increase, while the lowest index goes to Japan, where housing prices have actually decreased to the tune of - 3.9 percent over the last twelve months.

Don't Let Rent To Buy Enter You Decision

First time home buyers you may have seen "Rent to Own" signs popping up everywhere. You should read “Beware” instead. “Rent to own” has never been really a ticket to ownership. But it is mostly a marketing technique to lease houses property owners can't sell. In fact there is little benefit to the renter, even for a renter who bad credit or too much, debt to qualify for a mortgage. These deals almost never end up with a purchase and you might actually lose money. Currently there is a growing list of unsold homes and prices aren't rising as quickly at the same time. The situation has pushed some owners, and above all speculative real estate investors, to rent these houses.

Basically in a "Rent to Own" deal you are supposed to pay a credit part of each month's rent towards the purchase price of the home. The idea is to rent until you had accumulated enough for the down payment, which is usually 10% of the purchase price or more. But lenders now make home loans with little or no down payment. "Rent to Own" deals require you to pay an option deposit. It is non-refundable, but it is usually credited toward your down payment. If, when your option to buy comes up, you cannot or do not wish to purchase the home, you lose that money. Besides real estate investors use the purchase option to justify higher rents and lock you into a purchase price that is higher than what comparable houses are selling for on the market. Some renters don’t take into account that in addition to the high rent they will have to pay insurance, property taxes and maybe private mortgage insurance, which is required if you don't have 20% down. Unfortunately, some renters don't realize they cannot afford to buy until it comes time to exercise the option.