Zack Childress Tips to Make an Intelligent Real Estate Purchase

Zack Childress Tips to Make an Intelligent Real Estate Purchase

 Introduction

There are many complaints on blogs about people paying more than what is needed for a house and then finding many problems with the place since they have not had a proper home inspection. In this article, Zack Childress, a real estate mentor and speaker gives premium guidelines on How to make a clever real estate purchase.

Don’t exceed your budget

You should plan your budget within which you should purchase your house. When you plan your budget, you should consider all housing related costs and not just the list price. The article on other housing costs enumerated by Zack Childress gives more details regarding this. Make sure that your housing costs and other expenses do not exceed your income minus the savings.

Start thinking about your credit

You have to get an approval for your mortgage beforehand. It’s really painful to target a house and then find out that you don’t have enough money to buy it. Some real estate agents will work with you only if you have a pre-approval of credit.

Look for other crucial factors rather than the look of the house

The look of the house as you see in the pictures matters the least. Don’t forget that it can be remodeled or revamped. So be careful about what neighborhood the house is in and your own price range.

Think long term

Ponder on whether the house will serve the intended purpose. Not just this, think whether it can fulfill the purpose for a long term. Imagine your own disappointment if you realize that the house will not accomplish your intended purpose of buying, at the immediate or after a certain longer period of time.

Take the services of a realtor and that too a good one

You need the assistance of a real estate agent. Select one with knowledge so that he can easily guide you through the market processes. For more information on this check this article- A first rate real estate broker – The trump card to buy a home.

Don’t be afraid to walk away from a bad purchase

A home is your most crucial asset. It is important to select one carefully. This is the place where you fall in love with your spouse, take care of your parents, invite friends and most important of all- raise your children. The home is going to see all your emotions – both good and bad. So this is an emotional purchase. So get a home inspection done. If you feel that you cannot afford or maintain this home, don’t go for that one. It is better to walk away as soon as you feel uncomfortable.

Conclusion

These are the general standards for making a hot real estate deal. These specifications can help first time home buyers exceedingly. So please read and benefit.

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Zack Childress-Signs of a Developing Neighborhood

Zack Childress-Signs of a Developing Neighborhood

 Introduction

With the boom in real estate, every one of us wants to purchase a new home.  We have to do a lot of research before we finally settle for buying a home which is our most coveted asset. While we ponder on various factors like affordability, taxes, proximity to family, climatic conditions and so on, the neighborhood of our prospective home is one of the most crucial factors. It is best to purchase a home in an upcoming neighborhood. Zack Childress, a real estate speaker, author and guru, gives us tips on how to identify a rising neighborhood

Growth of business in the neighborhood

If businesses move into neighborhoods, they are definitely developing neighborhoods. Often on-trend businesses conduct detail oriented research before they move into neighborhoods.

Densely populated areas and the neighborhood around prime business areas

Areas with thick population will grow definitely. The areas which are surrounded by areas with prime transportation facilities, highways, railway tracks, higher industrialization, big schools and shopping complexes promise development.

Market trends in an area

If real estate properties tend to sit for a longer time in the market, then it is on the verge of declining. However, if the market time is very less, then the area is indeed on the rise. Lesser market time means a period of ten days or less and falling localities show a market time of around 120 days. From the cost point of view, these numbers can hold a lot of vitality. The prices may actually start rising long after the market time declines. This will help us to obtain affordable properties. So, it is a good practice to keep abreast of statistics in markets.

Crime rates

Crime rates are definite hot areas to be researched upon. Areas with higher crime rates are generally avoided and such neighborhoods never develop.  We should stay aloof from localities with high crime rates as they put our lives in great peril. We can check out local blogs, newspapers and magazines for crimes in the areas. Also we can create crime alerts on a site such as crime reports.com

Localities with architectural styles

Areas with buildings built in the Victorian, Spanish, Tudor and mid century modern styles are likely to see a fresh surge of development as these areas are bound to attract the modern generation of home consumers.

Areas with artists

Areas which attract artists are sure to grow. Artists often have a penchant to convert areas which are famous for something else into prosperous neighborhoods.

Renovations

Areas where renovations are done at a rapid rate are developing ones.  Laying down of a railway track, new bus stops, development of new schools and educational institutions or constructing huge hotels, shopping complexes and it parks in a region are sure signs of growth. We can go to the city building permit counter to check updates about the neighborhood from the staff. We can inquire as to what their calculations about the area are?

Conclusion

These tips by Zack Childress will serve to be very useful for home buyers. We must always select the neighborhood carefully since our home is our best asset.

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Zack Childress Real Estate Myths

 

Many of us don’t invest in real estate often. It’s only once in a lifetime that we buy a home or some real estate property. When we venture out to buy a home, we read up many things on the internet and converse with like-minded people. But, we cannot entirely believe the information gathered from these sources. There are some real estate misconceptions that may sway you towards loss. We will discuss what they are.  All the myths discussed in this article are as analyzed by Zack Childress, a real estate guru, investor and expert.

Pricing our homes higher or lower than the market price

Many real estate agents and buyers do not care to look at homes priced higher than the market. So, it is likely that such residential properties will not attract buyers. Of course, we can always lower the prices if they don’t draw the buyer persona. But, this will not put us in a good light, as buyer customers are often suspicious of such price reduction trends. According to the chief economist of a residential real estate company, sellers in San Francisco price their homes lower than what they expect to get, for earning multiple offers. But, this too is bad in a deteriorating market, as we will get offers which ask for lower prices only.

All real estate agents are equal

If we think that all real estate agents are the same, then we are living with the greatest misbelief. Different real estate agents have different traits. They have different levels of experience. For example: A real estate agent who has been working with buyers for purchasing of property for 2 years is not the same as one who has been in the real estate selling domain for the past 20 years.

Selling homes on our own is easy

Selling our homes on our own is not easy. When we undertake this selling, we may experience difficulties in negotiating prices, applying for loans, marketing our homes and putting our homes in listings – online as well as others. When we sell on our own, we think that we are saving on commission but we end up procuring a much lower price for our homes than when we sell through brokers, since buyers expect a discount on such dealings. So to be on the safer side, we should hire a real estate agent who will make the whole process much simpler.

It’s not essential to prepare our homes before marketing

This is a very common myth. So why should we prepare our homes before selling in the market? This is because nowadays, buyers are looking for move-in ready homes. Well prepared homes get takers as early as 3-4 weeks in the market, which is the most critical period. Pre marketing preparations include some repair work, cleaning and simple staging. Careless pre sale preparations can lead to homes slipping out of higher bids.

Check Zack Childress Real Estate

Conclusion

These are some of the common real estate myths. They are not true and can cost a lot to us in terms of efforts and money. So we should break these myths and follow the analysis of Zack Childress.

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Zack Childress – Types of Real Estate Property Investment for Beginners

Zack Childress - Types of Real Estate Property Investment for Beginners

 

Zack Childress Real Estate

Are you new to real estate trade? Are you willing to invest in real estate property? Are you seeking guidance in investing your funds in real estate property? If your answer to these questions is yes, you have come to the right person and place. Zack is the one who has trained many beginners in his training academy. Not only that, he also gives the online guidance about different types of real estate investment property to the starters.

Types of Real estate property investment for beginner

Real estate has always been the most popular asset all over the world. We have discussed about the different types of real estate properties such as property ownership, home equity, mortgages and rentals. When you are looking out for the property, you should keep the most important criteria in your mind, i.e. thetype of property you are looking for; apart from the location. Here are some of the real estate property investment types.

  1. Income and non-income producing investments

    Income generating real estate property investments is offices, retail, industrial, and leased residential. The other types are hotels, educational institutes, fitness clubs like gymnasium, and parking lots. The main thing that I would like to say these are income generating assets.

    Non-income generating assets, like houses, vacation properties, or vacant commercial building is as good as income generating assets. However, if you invest in equity, you won’t get rental income. All the returns that you get should be through capital gain.

  1. Office Property: This is the most important investment for many real estate owners as they are the highest profile property type. Companies have more demand for office space which is for its employees. The office staff is involved in accounts, finance, and insurance, services like IT, ITES, management, and administration. When the white-collar jobs grow, demand for office space increases.

  2. Retail Property:The retail properties vary from shopping malls to single tenant building in pedestrian zones. Many retail stores have an anchor that is large enough to attract the buyers. If the retailer is dealing in food products, the property fundamental improves, thereby making it worth for investment. The demand for rental spaces has many drivers with respect to location, visibility, population, density, population growth, and other relative income levels. Retails perform the best in growing economies as the sales rate is quite high.

  3. Industrial property:

    This property generally requires lesser investments. They don’t have much management intensive and their operating costs are lower, compared to office and retail counterparts. Industries vary depending on how much the building is being used. It may be for warehousing, manufacturing, research or development.

  4. Multi-Family Residential property:This property consistently delivers the most stable returns as people need to live in the place irrespective of the economic cycle. The residential occupancy is high when the market is normal. For commercial purposes, tenant leases are either net or party net, which means that most of the operating expenses can be recovered from the tenants by way of rent.

    See More: Real Estate Investing Property

Conclusion

The above mentioned real estate types depends on the investors’ requirements on which they can make the most of it according to the circumstances.

 

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