Types Of Liens On Real Estate

-A lien is a legal recorded claim against a property. The claim encumbers the property as a means to collect money owed, such as a mortgage, property taxes, or an unpaid debt owed to a contractor who performed work on the property. There are other reasons liens are recorded against a property.

-Equitable lien. When a property is held as collateral and the parties agree in a document, that the property is used to secure the debt.

-General liens. These liens all real estate and personal property. Court ordered judgments, probate actions, and IRS taxes fall under this category.

-Judgment lien. This is the result of an action by a party or government agency through a court of law to collect payment on a claim.

-Involuntary lien. State statues create real estate property taxes. These taxes are a claim against the property and the property owner assumes the statue when purchasing a home. Unpaid taxes can result in a specific involuntary lien.

-Specific liens. Special assessments and mechanics liens fall into this category. Unpaid contractors from home repair and remodeling projects can file a specific lien. Homeowner associations and local governing bodies can issue special assessments for repairs and improvements. Failure to pay these special assessments can result in lien being placed against a property.

-Voluntary lien. When you have a mortgage and voluntarily agree that the mortgage lien is security for the lender in case you default on a mortgage loan.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. His tried and true real estate tips has been featured on Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. Purchase his books at http://www.1001RealEstateTips.com .

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Real Estate Investing The Perfect Business Opportunity

So, you decided to leave the 9 to 5 rat race, that awful commute, or your unappreciative boss, but have quickly become overwhelmed by the many business opportunities available to you. Late night infomercials can give you a clue of what is HOT right now and Real Estate Investing is it!

People everywhere are discovering the secrets that afford them to live the lifestyle that you only dreamed of having. Real Estate Investing is the Perfect Business Opportunities out there.

Seeking out a sound business opportunity is not destined for failure. Real estate investing has always been a reasonable business opportunity avenue for income creation. History shows that real estate investing is the most profitable business in America. Real Estate Investing has created over 70% of all millionaires.

Of all the highly searched terms, you will find that Business Opportunities to be at the top. It is highly searched by stay-at-home moms and entrepreneurs alike who need extra earnings. In return for this tremendous demand for business opportunities, there will also be schemes and strategies that usually cost money rather than make money. Some of these business opportunity schemes are endless financial depths of despair that devours their innocent victims.

As long as there are people, there will always be a need for housing and businesses. There is a variety of ways for Real Estate investing. Here are just a few:

Construction of residential subdivision.

Commercial development.

Natural land improvement.

Overseas investments.

Worldwide, there is the accessibility of housing in need of repair. Abandoned and distressed properties have lost their primary value, so the business opportunity is to invest modestly in renovations in exchange for major revenue potential. Since devalued property is easily attainable everywhere at a discount, closing the gab with enhancements creates the high margin for revenue as a business opportunity.

Of course, there are many business opportunities out there other than Real Estate Investing. However, I assure you that the ordinary individual exploring ways to make extra income will conclude that real estate investing is one of the easiest, simplest, and most valuable alternative of any business opportunity.

I began real estate investing 5 years ago. My first investment was for a golf front lot purchased for an unheard off price of $25,000.00. That investment quickly turned into $100,000.00, giving me a profit margin of $75,000.00. Today, I own two rental properties and a residence and am looking to invest in a condominium in the near future.

Imagine living the lifestyle, that only the rich and famous live. It can be yours with real estate investing. Real estate investing is the perfect business opportunity.

The Author, Bill Weisenberger, is a Real Estate Investor as well as a business owner passionately dedicated to helping people create for themselves the lifestyle they choose. Click here...and learn how to make YOUR real estate deals count!

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Agent Marketing Minute: Marketing is not Advertising

Real estate agents wear many hats including one for marketing, advertising , merchandising, and publicity hat. Many agents think these are all one and the same. To be effective you need to know the difference and use all four to reach target real estate markets. Let's explore what each is and a brief example.

Advertising is any means by which an organization seeks to influence thoughts or actions of an individual, usually used to sell a product (house) or service (agent), or to promote good will. Example: an open house ad in the local newspaper. Marketing is all aspects of the advertising, merchandising, and selling of goods and services. An agent's annual marketing plan identifying the goals to be achieved and actions to be taken in the coming year. Merchandising is the promotion of the sale of goods and services through advertising and publicity. Think of merchandising as a physical tribute of marketing. Example would be a four-color brochure describing the physical features of a listing. Publicity or public relations is a promotion tool that motivate the public to take notice of a person (agent), product(listing), company (brokerage). Example is a press release and resulting article in the newspaper featuring an agent's support of a Habitat for Humanity project.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. He contributes residential real estate analysis to Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. View his books at http://www.1001RealEstateTips.com.

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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.

The current absorption rate (the percentage of the homes on the market that sold in any given month) is a good indicator of the challenges faced when working to getting a home sold. The rate has dropped from 51.5% in July of 2005 to 8.6% in July of 2006 for Single Family Homes and from 43.6% in July of 2005 to 4.8% in July of 2006 (meaning that less than 10% of the Single Family homes and less than 5% of the Condos on the market sold last month). Having a dedicated Realtor? working full time to get your home in front of any available buyers is imperative!

Once an offer is received, the challenge is to negotiate an offer that is win-win for BOTH the seller and the buyer. Because of the tight market, buyers are more savvy when negotiating a deal and so having an agent on your side can ensure that you get the highest price possible for your home.

Visit realestatemarketingpro.blogspot.com for free real estate marketing tips or see these tips and tricks in action at www.ComeToClearwater.com

Realtors and mortgage bankers/brokers, please feel free to use this article provided this reference is included and all links remain active.

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A Bad Real Estate Market Can Allow You to Quit the Rat Race in 1 Year!

JP Morgan, an original Robber Baron and one of the richest men of his time said it best. ?The time to buy is when there is blood running through the streets!? While the blood is not running through the streets yet, it is trickling!

• Housing appreciation is flat or even negative in some formerly hot areas
• Time on market, the amount of time it takes for a property to sell is increasing dramatically across the country.
• Inventories of unsold homes are up 30-50% nationally
• Developers and builders are offering deals unheard of 1 year ago

On the horizon is an avalanche of home mortgages about to ?reset? payment levels, up from ?teaser? rates of 1-3% to market rates of 6-7%. When you realize that the only way many of these people were able to buy their homes was because they could afford only the 1-3% payment rates, you can imagine what will happen when those loans reset.

Also, historically, more mortgages go into foreclosure at 3-5 years after origination than in any other period of their terms. More than ? of all mortgages in the US were taken out in the last 3-5 years. Another negative factor is that, according to one study, almost 50% of all homeowners have less than 25% equity in their homes.

This has come about because of the large numbers of home buyers that put zero down when they purchased and the fact that homeowners pulled out $333 Billion in cash with refinances in the last 3 years. If someone, particularly an investor, (nearly 25% of all purchases were investors over the last 3 years!) can no longer afford their mortgage payments and they have little or no equity, they will not have much incentive to try to hold on, meaning foreclosures will soon spike. Many, many people will be trapped in their homes by the foregoing circumstances. They will not be able to sell:

• Real estate agents will not list their properties if they have little or no equity as they see no means of collecting their fee
• They will not be able to reduce their selling prices without having to bring cash to the closing to pay closing costs, cash they probably don?t have.
• The market will be cluttered with similar properties for sale
• Investors will not be interested in their properties because there is no equity

People who have to sell their homes for financial, personal or emotional reasons will be especially hard pressed to find a solution. If these people are not able to afford their homes and are not able to sell them, they will face financially disastrous foreclosures or personal bankruptcies. You will be able to solve their problems and they will Give you their properties in return! In fact, some will even pay you to take their properties! Why on earth would you want properties with no equity in them? Because they can become Automatic Cash Machines, spewing cash into your bank account so you will not have to work anymore! Here is how:

First, you sell the property! You line up Motivated Buyers as your potential clients.

Then, you find a Motivated Seller and acquire his property Next, you put the Motivated Buyer into the property as the new owner with a private, seller financed mortgage.

Lastly, you collect Automatic Income for the next 5-10-20 years or more while your buyer handles all the maintenance and other duties any home owner is faced with OK, what is a Motivated Buyer and how do you find them? A Motivated Buyer is someone who can not or will not pass the bank?s scrutiny to qualify for a mortgage. These may be owners of small businesses, especially if they are cash based. They could be self employed professionals or even foreigners. They could also be people with really stinky credit! These people will jump at the chance to buy a property with private, non-bank financing and will pay you a premium for the opportunity. To find them, you simply run an ad highlighting private, seller financing. Something like:

Owe too Much to Sell Your Home?

Investor can help! XXX-XXXX

You won?t need money to acquire these homes in most cases! Have a lawyer or a person experienced with land trusts, set one up for you. This is the secret that makes this strategy work. The land trust will allow you to take over the property and sell it without paying off the seller?s mortgage!

You tack on a profit for yourself and this total becomes the Motivated Buyer?s new mortgage, less the 5-10% cash down payment you require upfront on the new purchase price. Your buyer moves in and makes payments to you until he pays your mortgage off. You take his payment and pay the seller?s original mortgage. You pocket the difference. Let?s look at the potential.

You pick up and sell 1 property per month after a 2 month learning curve. The properties average $250,000 each in market value.They produce $300 per month in positive cash flowYou receive $10,000 cash down payment from each one With 10 of these, you have:

An income of $3,000 per month, or $36,000 per year. You received $100,000 in cash down payments$2,500,000 in assets, with equity accruing monthly as the mortgages are paid off Could you Quit the Rat Race with $130,000 per year? No? Repeat the above!

Copyright 2006 Bill Young. Bill is an experienced real estate investor and personal financial consultant. He writes and lectures on advanced real estate concepts and is an expert on the formation and use of land trusts. He can be reached at 877-291-3542. His web site is http://MotivatedSellersOnline.com/SellforMore

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Online Real Estate Courses

Buying a home is a major decision because it involves choosing a place where you will live for a number of years. This decision also has major implications on your financial status because of the usually high cost of homes and the loan applications that accompany such purchases.

Due to the enormity of the decision of purchasing a piece of property, most buyers solicit the help of real estate agents. Real estate agents are persons licensed by the government of a certain jurisdiction to handle real estate sales. Usually, real estate agents are under the employ of real estate brokers who can be either individuals or companies that have overall responsibility for the actions of real estate agents. There are also instances when real estate agents use the services of real estate appraisers to help them determine the market value of a home that is put up for sale.

Getting a License

Given the delicate and complex nature of real estate transactions, it is important that buyers get the right information so that they are properly guided in their decisions. Real estate agents, brokers, and appraisers need to have an understanding of the market and the technical aspect of real estate. To be able to get a level of competence in real estate, these persons need to take courses on the different aspect of real estate and take a licensing exam so that they can be certified by the state as persons who can handle real estate transactions.

Traditionally, people who wish to become agents, brokers, and appraisers enroll in institutions that offer courses on real estate subjects and take the subsequent exams for licensing afterwards. However, it is now possible for people who to take these courses in the comfort of their own homes because online courses are available on the Internet.

Online Courses

A search on the Internet can lead to you to a large number of online schools that offer real estate courses. Under this set-up, students enroll online, receive their materials through e-mail and they take exams online. These online courses promise that taking these courses is the same as or even better than the traditional way because students do not have to deal with the problems of traveling and face to face communication with instructors. These courses also offer review lessons on how the students can improve their chances in the licensing exams given by the government. Apart from being more convenient, these online courses also offer potential agents more opportunities since real estate courses on the different states are also offered. Given this new development, people who wish to be agents can now also avail of the benefits that the Internet offers.

Real Estate Courses provides detailed information on Online Real Estate Courses, Real Estate Agent Courses, Real Estate Appraisal Courses, Real Estate Broker Courses and more. Real Estate Courses is affiliated with Phoenix Real Estate Schools.

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How Affordable Is Really Affordable?

You?ve found your dream home and can?t believe the price! You?ve never been so lucky. So, how can you make sure your affordable dream home truly is affordable? First, make certain you?ve viewed several properties in the area and compare the pricing. It?s hard to know if you have selected an affordable home if you?ve only viewed one property in that area. After you?ve viewed several properties, then you can assess whether or not the home you?ve selected is in a comparable market price range.

Also, consider checking with your local property assessor?s office or tax assessor in order to compare market values of these homes. Secondly, make sure you?re not paying for decoration. Imagine the home or property completely bare. Would it still be worth the price you?re paying if all of the fancy decorations were taken down? Be sure you?re not paying for ?window dressing? that will be gone the moment you sign the closing papers. Imagine the home decorated the way you envision and you?ll know whether or not it?s suited to you.

Lastly, inspect, inspect, and when you?re finished with that, inspect some more. Most homes have records available at the local courthouse or property assessor?s office. It?s important to make sure you?re not purchasing a home in a flood-zone or on an earthquake fault. Also, the housing authorities sometimes keep records on things such as termites and other housing damages. Once the house passes these tests, turn that key and enjoy your new and affordable home.

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