How To Purchase House

The winners: Singapore, South Korea and the Philippines

Singapore experienced Asiaâ??s highest residential property price increases during 2006, with 9.5% real (inflation-adjusted) house price rises.

There were also 9.3% real house price increases in South Korea, and 9.1% real house price increases in the Philippines. These were seen in the Global Property Guide House Price Indices, the biggest collection of residential property price indices.

Singaporeâ??s strong 2006 GDP growth rate, at 7.9%, pushed up demand for Singapore property. The Urban Redevelopment Authority (URA) private residential property price index rose by 10% (9.5% in real terms) in 2006.

South Korea also saw a strong rebound in property prices, despite continued efforts by the government to depress the market. The Kookmin Bankâ??s house price index rose 11.6% in Dec. 2006 (9.3% in real terms) from a year earlier.

In the Philippines, strong economic growth and reduced inflation contributed to the continued recovery of the real estate sector. In addition, demand from Overseas Filipino Workers (OFWs) and dual citizens has been strong, pushing prices up. Luxury condominium prices in the Philippines rose 15% (9% in real terms) in 2006, following an 11% nominal price rise in 2005, according to Colliers International.Japan and Hong Kong are laggards

Japanâ??s residential property market continued to fall in 2006, despite repeated attempts by the media to portray the market as rallying. Nevertheless, the residential urban land price index registered a smaller fall in 2006 (-2.8%) compared to last year (-4.7%).

Hong Kongâ??s property market turned negative (-2.13%) in 2006, after impressive gains in 2004 (27%) and 2005 (8%). Higher interest rates in the US, mirrored directly in Hong Kong, were a major cause of the downturn.

Taiwanâ??s messy political crisis seems to have frozen residential prices, with 0% appreciation during 2006. In real terms, Taiwan experienced a decline in house prices during 2006 (-1.7%). During three years prior to the second quarter of 2006, Taiwanâ??s Sinyi house price index rose 17%.

In Malaysia, house prices did not to keep pace with inflation. Malaysian house prices today are at the same level as 1995, in real terms.

Thailand saw the end of ending its strong post-Asian crisis property market recovery, as the political crisis impacted the economy. House prices moved up just 1.9% in 2006 (-2.4% in real terms), after 2005â??s price increase of 7% (1.5% in real terms), and 2004â??s rise of 9% (6% in real terms).

Indonesia managed to reduce 4Q 2006 inflation to 6% from 16% during the first three quarters. With the house price index registering a 6.6% increase in 2006; house prices rose by 0.5% in real terms.The 2007 elections â?? risks abound

2007 is an election year in Korea, Taiwan, and the Philippines, and political uncertainty is likely to increase. There will also be elections in Japan and Hong Kong, but they are unlikely to have much impact on the real estate market. In Thailand, uncertainty will increase if elections are not called. The Philippines. A victory for President Arroyoâ??s party in the upcoming Congressional elections would be positive for real estate. Election years in the Philippines bring money inflows, but also increased uncertainty. But if Arroyo wins enough seats in Congress she will push constitutional change, removing constitutional limits on foreign ownership of real estate and companies â?? good for real estate. South Korea. The economic interventionism of left-of-center President Roh Moo-hyun has been damaging for Koreaâ??s housing market. His support is crumbling, and a less interventionist president may be elected in December. But even if the opposition Grand National Party wins, excessive government intervention in the housing market has a very long history in South Korea.Taiwan. Parliamentary elections at end-2007 will provide a strong lead on whether the Kuomintang (KMT) can regain control of the presidency in 2008 from the Democratic Progressive Party (DPP). President Chen Shui-bianâ??s two terms have largely been spent on keeping him from being ousted. Significant banking and tax reforms have been held hostage by politics. Japan. Half of the seats in the upper house will be contested in July. Seats held by the Liberal Democratic Party (LDP) may be reduced, risking its reform agenda. These seats were won with the help of former prime minister and popular reformist Junichiro Koizumi. Hong Kong. Donald Tsang is up for re-election as chief executive where elections are still largely ceremonial and Beijingâ??s anointment is the only significant factor. Pro-democracy campaigners are hoping and pushing for reforms to full democracy and Mr. Tsangâ??s failure to push for constitutional reforms in 2005 means that this will be his last term.Thailand. The sooner elections are called, and Thailand is returned to democracy, the better it will be for the property market and the economy as a whole. The fate of Thailandâ??s property market hinges on the junta. If the junta prolongs military rule, the market will suffer.

The Global Property Guide sees inflation risks to be minimal in Asia in 2006. But other risks threaten the real estate market, particularly the re-emergence of bird flu in several countries, Indonesia in particular.

In a slow real estate market, selling your house can be difficult– especially if you owe more on your mortgage than your house is worth. In times like these, it’s not enough to simply list your home and wait; you actually have to sell your home. This practical, important book shows you how to use marketing techniques, advertising, repairs and upgrades, home staging, and other creative, effective tactics to get your house sold fast— no matter how bad the market is.

From the Back Cover

Real Estate “Stop fretting about selling in a soft market. It’s not IF you can sell your house that matters . . . it’s WHAT you should do (and NOT do) to get it sold quickly. And Bill nails the WHAT in this must-read book.” —Alexis McGee, author and publisher of foreclosures.com “This great book shows sellers how to move their property in today’s softer markets. VERY creative and right-on for sellers to sell quicker and for more money.” —We (more…)

Who says living in the desert region is just too dry and hot? Whoever said that must have not experienced the good life brought about this region, particularly in Arizona. This state famous for the location of the Grand Canyon is not only a perfect spot for tourists to visit. It is in fact one of the growing states wherein you can find the best homes to live. You can establish your families in here; retire at your old age and even a perfect place to stay temporarily when you are having a vacation. If you love the hot climate, this is the perfect place to stay. Despite being dry and hot, this place has all the action needed for a person to have a life.Now if you want to settle in a place there are several things that you need to consider before making a purchase. Arizona is a big place and you might want to get to know the various cities in it. For one, Phoenix is the capital that has the most population and is the fifth largest city in United States. However, if you want to retire in here, you can go to a more laidback cities where you can find the best homes are and that is in Gilbert.Power Ranch is one of the the best communities that you should be looking for as the community offers you all types of homes that can satisfy your needs. As mentioned a while ago, several things needs to done before you purchase a house. The following are:1.    Look for a house online and see what you can like. Also, check the prices and see if it fits your budget.2.    You can have yourself pre-qualified so that you will know how much loan you can make to purchase the house.3.    Once you have fixed your mind on what property you want to buy, you can formally apply for a loan. This is the time wherein you have to be ready for various documents to be reviewed. Once approved you will have to select a loan program that you think you can afford. Once you have chosen, you can start the processing but it could take some time.4.    Once the load is approved, there are three documents you will be signing and that include the deed. You might have to settle some fees but once it is done then you can have the keys to your new Power Ranch or Gilbert Home.It might not be an easy process and it may take some time, as lending companies are very vigilant in reviewing your profile, as well as your finances. However, if you have great credit history and a stable job, then this should not be a problem. You can have your dream house in no time.If you have bought a home before, probably this process is not new to you. However, if this is your first time to purchase, this outline is just a summary on what is going to happen when you want to purchase a home, particularly in Arizona. Happy house hunting and good luck in purchasing your dream home.SummaryBuying a home in Arizona is a good thing to do because most of the real properties in this state are really affordable. In case you want to purchase one through loan, these four steps can give you a simple explanation on the step-by-step process of purchasing a house through loans.

Review

“Keller presents the million-dollar benchmark as a symbol of excellence, rather than a monument to materialism.” — Chris Leporni, Realtor Magazine”The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and your life.” — Mark Victor Hansen, Co-creator #1 New York Times best-selling series Chicken Soup for the Soul(R) and Co-author, The One Minute Millionaire”This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere.” — Robert T. Kiyosaki, New York Times best-selling author of Rich Dad, Poor Dad
–This text refers to an alternate

Paperback
edition.

Anyone who wants to turn their real estate practice into a highly successful business must understand the fundamental models that drive the best real estate agents in the industry. In The Millionaire Real Estate Agent these models are revealed and explained. This book represents the (more…)

Review

“This is the success story of an ex-dot-com employee who got tired of working long hours at a great job for 10 years and watching his fellow workers lose their jobs. He accidentally discovered real estate’s market-value appreciation, leverage, tax savings, cash flow, reliability and freedom from a 9-to-5 workday. In the process, he became a multimillionaire, and he shows readers how they can have the same result.” (Bruss, Robert J. San Francisco Chronicle. )

Quit your day job! Make a million in real estate! It’s easier than you think! A few years ago, Matthew Martinez was a lot like you – he worked hard to make as big a salary as he could. But it wasn’t enough. He worked by the clock, and yearned to be his own boss. With a small amount of savings, he acquired his first rental property. Two years later, he was making more from his rentals than he was working 9 to 5, so he quit his day job to oversee his real estate investments (more…)

It is often noted that over the last ten years the price of an average home in the United States in “real term” has more than doubled.
What this means is that you were able to sell your home, in essence to cash in your chips as it you were at a gambling casino, and buy a representative basket of other non real estate goods – be it tomatoes, movie admission passes, corned beef, cars, garden plants you would be able to buy double the amount that you would of just 10 years ago.
I am sure you noticed that along with your new found wealth as a result of your real estate investment that your housing and realty taxes increased as well. Not only are you rich in terms of net valuations but you also having higher taxes on your property.
Property taxes are assessed by cities and municipalities on the “assessed valuation” of the home or property. In the end it your annual property tax bill, that comes in that nice official envelope from realty tax central all comes down to the valuation of the property on hand. It is often said that you can count on two things in life – death and taxes. Property tax is an “ad valorem” tax that an owner of real estate or other property pays on the value of the property being taxed. Sure you are rich – in terms of the valuation of your house but simply put – the more your house is worth, the more realty tax you will pay and be paying every year.
Unfortunately what has happened is that most Americans are not diversified in terms and their assets and investments. With the stock market crashes and low interest rates paid it seemed that the only place that “they could make money’ was in their house. Low interest rates allowed many to purchase houses, condos and even vacation cottages and condos that they could never afford otherwise. Low interest rates meant low mortgages.
Many could now afford substantial properties that they never could have afforded in any way before. The circle went round and round- low interest rates meant others could afford those properties as well. Housing prices went as a result of the increased demand. The home buyers now congratulated themselves on the wise choice of their investment in their home. Real estate it turned out was a million times better an investment than anything else. A million times better than the risky stock market, Interest rates on certificate of deposit would have paid you virtually nothing. On top of that a feeding frenzy arose in the real estate market as people who were not buyers of real estate or who had planned to be in the future rushed into the market in a panic lest they be “locked out forever” of their dream of buying a house , condo etc.
The fallacy in this logic is that these people are house rich and cash poor. They had not diversified their investments. At the time it seemed like a wise idea – in terms of rates of return and other options. After all they “only made so much land” and “real estate always goes up”.
Back to the topic of taxes and realty taxes. The housing bubble has “burst”. Housing prices seem to be in a correction – on the way down.
You may well wonder. If the value of my house has come down so should my realty and house taxes. Don’t count on it. Actually it is highly if ever doubtful. Your city or municipality needs that revenue stream as much as you do or perhaps even more. You at least can “cut back”. You can eat hamburger instead of steak, you can choose not to purchase that new car you wanted. However your tax money has been incorporated in budgets and planning for a long time coming. It’s spoken for. On top of that you can hardly expect that civil servants will take a pay cut or that the whole civil service will become amazingly productive – at least in the near future.
What can you do? It all comes down to valuations and homework. Have your house value assessed. You can do an initial assessment by comparing your home to other homes in your area that were recently professionally evaluated. You can check on the internet and with local real estate agents what similar housing and real estate in your area has sold for. Not so much the asking price but rather the actual sales price.
Now that you have a good general idea from a couple of sources it may be wise to spring and hire a professional property evaluation or property inspection service. You can find these services in your local yellow pages or with a search on the internet. If you are stuck and cannot find one- ask a local real estate agent or company.
Next compare your taxes to other similar priced properties. First in your area and later outside your direct area, but in your municipality.
Many cities now actually list home valuations and taxes on the internet freely to the general public. If not real estate listings may give you the data.
In the end it all comes down to valuation of your property. You can file an appeal of your realty taxes. Your case can rest on two points of discussion. First that your home taxes are out of line and too high, compared to other similar properties. Second you can argue that the valuation of your house upon which these property taxes are based is wrong. According to the cities own calculations you should be paying much less tax.
In the end as they say “It’s Your Money” “And Your House”. Ensure you do your homework of property valuations and tax rates in a thorough, detailed and systematic manner.