Divorce and the Marital Residence; Four Solutions to This Rotten Real Estate Market

August 30, 2014 Posted by

The marital home or residence was once the greatest asset of the marital estate. In many cases, it has now become an albatross. Clients and potential clients are very concerned today, among other financial/economic issues, about the value of their homes in relation to the market and their mortgages. This is particularly true in areas such as Rochester and Rochester Hills where Chrysler purchased a large number of homes for executives and other employees whom are no longer living in the area and these very nice homes are sitting vacant on the market.

Many people considering divorce are concerned that, after they are divorced, they may not be able to sell the residence or, perhaps worse, may have to reside together after the divorce if they cannot sell the home. This is of a particular concern when the house is “underwater”, where the appraised value of the home is less than the balance of the mortgage (or mortgage and equity loan or second mortgage.) This is known as a deficiency; the difference between the value of the home and the balance of the mortgage and often the costs associated with attempting to collect the balance.

There are at least four basic solutions to this problem.

First, the parties can attempt to work together to solve these issues. Often one party is willing to stay in the home and “ride the market out.” This may require some concessions from the party that does not retain the marital home, however, if the parties can agree, this can save them from facing a certain instant deficiency where they will have to come up with money at closing from other sources of savings. In addition, characterization of payments between the parties as spousal or family support may allow the parties to take advantage of income tax differentials and overall save the parties some money in the form of taxes.

Second, the parties can sell the home at the best possible price and take money out of retirement funds to cover any deficiency. While this is not an optimal solution, it is often effective. The money can be drawn without penalty at the time of the divorce and brought to the table. This allows the parties to move on without one party bearing more risk and maintaining the mortgage payment alone.

Third, the parties may attempt to broker a short-sale of the property. In a short-sale the parties, the realtor and the bank representative work together to sell the property at the best possible price and obtain a release from the mortgage. This appears to be a good solution, however, I have heard that the length of time that it takes to complete these transactions can be significant and they appear to have a problem with falling through at the final moment.

Fourth, some clients allow the home to go into foreclosure. Unfortunately, some couples faced with divorce have homes where they cannot afford the monthly mortgage payment alone and the deficiency is so large that it does not make sense for either party to keep the home. In this situation, some clients have allowed the home to go into foreclosure. During the foreclosure period, the client usually is allowed to stay in the home even though she is not paying the mortgage. In this case, the client can save the money that would be used to pay the mortgage to apply to a new residence. Unfortunately, this leaves the couple both open to liability for the deficiency and the bank may sue either party in an attempt to recover the deficiency.

These are only four potential solutions. There are many possible ways of dealing with this issue and the divorce process can be very flexible if the parties are able to “get along” in order to move on with their lives. A solution can be fitted to every situation.

Market A Residence Quickly With the Support of an Estate Agent

August 29, 2014 Posted by

Swiftness is critical if a homeowner is prepared to sell off their house. Homeowners typically need to offer their real estate to allow them to apply the proceeds to invest in a new home. You need an estate agent who understands the best way to get your property to potential buyers so that it doesn’t sit available on the market for too long. A skilled agent can help you sell your home by giving you advice and tips that will make your house more appealing to buyers. Probably the most beneficial methods to let buyers know regarding your home is definitely to market your property online. By providing the highest degree of specifics to the people that might be interested in buying your house, you can be positive that exclusively purchasers who have an interest in buying your residence are going to request to have a tour. This can make your life easier and help you obtain more than one sales offers easily. Count on your personal agent to assist you to assess pitches and figure out the price associated with suggested maintenance. In case a potential new owner would like to discuss a value with you, an property adviser can assist you by offering property services that will help you get the highest selling price for your personal home to help you walk away and have a financial gain.

Reasons to Get Swimming Pool Fencing for Protection

August 29, 2014 Posted by

Most families enjoy swimming and spending quality time during the summer months. A pool allows for staying cool without leaving the home. A certain sense of responsibility comes with owning a pool. Some people have problems with pets and small children wandering to the area. It is important to understand that swimming pool fences are essential for protecting your family and the community.

They are made of protective framework encased with glass or other materials. Some homeowners are hesitant to get one because of worrying about the appearance of the backyard. It is important to work with a professional company with experience. An experienced company can transform your pool and backyard.

The fences can be decorative and nice. There are different types of fences, but the glass ones really complement the pool. The pool is surrounded with glass, which allows for homeowners to observe anyone around the area.

Some homeowners may not see the need to spend the extra money on fencing. However, it is important because an accident can occur at any time. If your pool is in an open area, then anyone can wonder over to it at any time. The main concerns are children and pets. Drowning is the common cause of death for children. Homeowners are responsible for someone getting hurt on their property. It is better to be safe than sorry.

Homeowners with kids and pets should be concern about protecting their family. Most mothers are attentive and always keeping an eye on their children, but an accident occurs at any time. It can take one phone call and the children can head to the pool.

Choosing the right installer is another concern. Customers are going to benefit from using a professional and experienced company. An experienced company can provide tips and help with making your backyard safer. If you are not familiar with fencing, then it helps to talk to a sales associate before making any purchases.

There are many benefits to investing in fencing. If a child gets hurt in your backyard, then the parents may want to sue for medical bills. Homeowners should be concern about someone getting hurt on their property and protect their assets with swimming pool fencing.

Realty Investing – The best ways to Start

August 28, 2014 Posted by

You’ve heard the stories about individuals making millions in realty like Rick Otton, so is it actually any surprise why a lot of people view property as a serious investment automobile? Property investing offers more security than the stock market and supplies returns of a minimum of equal magnitude, coupled with appealing tax benefits. Apart from that it really does sounds cool to be ‘in property’. Let’s face it, anybody can trade stocks from their phone or home computer. Real estate investment, nevertheless, is a genuine head turner whenever it pertains to concrete properties.

One of the greatest challenges in property investment is knowing the cash in advance to acquire your very first realty investment property. Remarkably, though, this is not your most significant barrier. That’s right! Finding the cash upfront is NOT the greatest obstacle to property investment. Truths are, hardly anybody who purchases realty has the cash in their personal account to spend for it. Which’s where your banker is available in. Let’s face it, do you know anyone who has their own home? I mean really has it? Obviously you’ll understand great deals of people who have a property in their name they call their own. Have a look, however, into their individual finances and soon you’ll uncover who truly owns their property. It’s the bank, obviously. Remember, your liability is your bank manager’s property. If these people can make use of the bank’s money to buy a home, then why can not you?

I know ‘owning’ your very own home might seem like the apparent means to go, but if you really wish to get on the very first called of the property financial investment ladder, then this is the best way to get begun in real estate financial investment. Why then is this initial step totally ignored by many people? Just take a look at how many are still renting instead of buying home. Now obviously the relationship in between leased and private housing prices varies from country to nation as well as from location to area. Wherever you go you will certainly still find many people leasing, simply since in their minds “they do not have adequate cash to buy a residence.” In reality, however, it would be much more affordable for them to buy!

When you rent, you are basically throwing great cash down the drain. Obviously you have the enjoyment of a home, but from the point of view of realty investing, you are not really developing for the long term. Remember, every dollar you spend on rent is a dollar you will certainly never ever see once again. Whereas if you have your own house, instead of paying rent you are paying your mortgage. And even though there’s such a difference in regards to exactly what home loan deals are on offer across the marketplace, the basics of mortgages are basically the exact same. Each month you make a payment which consists of two parts: interest and concept. You might compare the interest part to rent. These dollars are gone when they’re paid, however, the part of the payment that goes to the concept is money you keep. Every dollar that is used to settle the principal is a dollar in YOUR VERY OWN pocket.

So if you’re considering starting in property and you do not yet ‘own’ your own house, now’s the time to take your initial step to building capital with your very own real estate investment. Economically, it makes sense since the property investment vehicle likewise provides greater chance for constructing your net worth. Put simply, when real estate costs increase, so does the value of home. Alternatively, the money you owe at the bank– your home loan– continues to be the exact same. Compare this to the financial reality of those people who continue paying rent. Their net worth stays the exact same. Nevertheless, their landlord’s net worth is doing really well, thank you, and their proprietor is happy for the status to continue. So if you would rather construct your very own capital, then consider purchasing your very own house!

Lots of property owner accumulate more cash with recognition of their property assets than they do working a full-time job. Be warned, though, this is not constantly the case. As you know, the cost of real estate can go down in addition to up. If for some reason you have to offer your home in a down market, it can be a costly venture. You wouldn’t be the first to end up with a house worth considerably less than the home loan resting on it. Make sure you do not overstretch yourself economically by taking on too much. In the long run property prices have actually risen, however in any cycle there are down durations. By remaining within your limits and being patient, you’ll be able to sit tight through the difficult times yet make money from the long term upwards trend in realty investing.

You’ve heard the stories about people making millions in real estate like Rick Otton, so is it really any surprise why so numerous individuals view real estate as a severe investment vehicle? Genuine estate investment, nevertheless, is a genuine head turner whenever it comes to tangible properties.

One of the greatest challenges in real estate investment is knowing the cash up front to get your very first real estate financial investment property. I understand ‘possessing’ your own house could sound like the apparent method to go, however if you truly desire to get on the first rung of the real estate financial investment ladder, then this is the best means to get started in genuine estate financial investment. If you’re thinking about getting started in real estate and you don’t yet ‘own’ your own home, now’s the time to take your very first step towards building capital with your own real estate investment.

Belize Property Center Is A Full Service Real Estate Company Located In San Ignacio, Belize

August 27, 2014 Posted by

Belize Property Center is a full service real estate company located in San Ignacio, Belize which offers countrywide coverage for property buyers and sellers throughout Belize – from the Old World charm of Corozal in the North, through to Orange Walk, the breadbasket of Belize; into Belize City, Belize’s cultural and business Mecca; into San Ignacio and Belmopan in the Cayo District of Belize, the heart of Belize’s ecotourism industry; over to the seaside communities of Dangriga, Hopkins and Placencia in Stann Creek; down into the mountains and forests around Punta Gorda in Toledo, Belize’s deep south and, finally, over and across the waves to Belize’s Cayes idyllic Ambergris Caye, home to 10,000 residents and captivating Caye Caulker with its slow-motion lifestyle.

you can experience Belize real estate at its very best with RE/MAX Property Center ~ our expert team of realtors in Belize knows there’s no place like home. One of our RE/MAX real estate agents in Belize will work with you to find investment opportunities that suit your lifestyle and portfolio. We have hundreds of real estate listings in Belize and offer condominiums, villas, beach houses, beachfront land, private islands, building lots, acreage and businesses for sale.

It’s very easy for non-citizens, United States of America and Canada residents especially, to buy real estate in Belize as there are no restrictions on foreigners owning property in Belize. Indeed, Belize is one of the easiest countries in Central America for foreigners to purchase real estate. For those who missed out on real estate opportunities in Costa Rica and Panama years ago, Belize represents a smart choice for real estate investors to climb on board before prices skyrocket. In a comparison of real estate prices in the Bahamas, the Dominican Republic, Costa Rica and Belize, the Boston Globe reported that Belize’s beachfront villas and condominiums were a fraction of the price of the other countries.

Interested in insulating yourself from stock market volatility and recession woes at home? Take a close look now at the emerging real estate market in Belize before property values increase.

Residential Homes: If you are searching for a second home or vacation property in Belize, or are interested in retiring in Belize, search our real estate listings under Residential Homes.

Acreage: If you’re a little more adventurous and want to buy acreage in Belize to build your own home, search our real estate listings under Acreage.

House Lots: Searching for House Lots in Belize? Our house lot real estate listings are worth checking out if you’d like to buy a lot in one of the most beautiful countries in the world!

Commercial Properties: For those interested in Commercial Properties in Belize, our Commercial real estate listings are worth reviewing if you are considering establishing or buying a business in Belize!

Investment Properties: Investors searching for investment properties in Belize will discover a wide range of real estate listings under Investment Properties.

You can receive free information about the “Best Buys in Belize Real Estate”, customized to fit your buying criteria. Find out about “Belize Real Estate Closing Costs”. Speak with our Owner/Broker, Looey Tremblay, about key investment opportunities in Belize. Zero in on “The Top Ten Reasons to Invest in Real Estate in Belize”. Register for free “Belize Real Estate Investor Briefings”. Benefit from our “Exclusive Belize Buyer Profile System”. Subscribe to our “Hotlist of Upscale Homes in Belize”. Discover the “Hidden Real Estate Market in Belize”. Find out what your home in Belize is worth. Save yourself from “Common Buyer Traps” when buying a home in Belize. Tap into our expertise about Belize!

Since there are no licensing requirements for realtors in Belize, choosing RE/MAX, a globally recognized and trusted name in real estate, is a smart choice. RE/MAX is the world’s most successful real estate network because our our real estate agents are extraordinary. Many retirees, ex-pats and foreign investors from various countries like United States, Canada and Europe have become enchanted with this extraordinary country. When you are ready to escape the ordinary and embrace the extraordinary, contact us at RE/MAX Property Center. Our promise to you: extraordinary agents; extraordinary results. We’re only as far away as a phone call or email.