Jeff Adams Real Estate Housing Report Starts Jump 15.7% in July

Jeff Adams Real Estate Housing Report Starts Jump 15.7% in July In a sign that builders are reaction more confident in the housing market, groundbreakings on new house rose 15.7% in July over the previous month.

Housing starts stood at a seasonally adjusted yearly rate of 1.093 million in July, the strongest level the U.S. has seen in 7 months. The figures, released Tuesday by the U.S. Commerce Department of, reverse a 2-month refuse in groundbreakings on new homes, and correlate good with data released Monday that shows builder confidence up 2 points in August.

While the month-over-month jump is fairly strong, the change from the prior year is even stronger. July home starts were 21.6% higher than their level in July 2013, when they stood at an annual rate of 898,000. July numbers were also far better than economist’s prospect. Ahead of Tuesday’s release, economists surveyed by Bloomberg estimate July starts of just 963,000 units.

This week’s area for surprising numbers, but healthy reversal after the prior month’s unsatisfactory home construction data. In June, home starts dropped 9.3% from the prior month, while building permit were down 4.3%. New home sales figures were also low in June, down 8.2% from May’s levels. However, sales of existing-homes in June hit their maximum pace since October 2013. 

Building permit application data released Tuesday suggest that builders plan to keep raising their pace over the coming months. In July, application for building permits increased 8.1% from the June figures, to 1.052 million units. That level is 7.7% above the July numbers one year earlier.

July’s point in new construction and the raise in permits is the shot in the arm that the real estate industry was looking for, said Quicken Loans Vice President Bill Banfield of Tuesday’s report in a report. Now that construction is more in line with housing builder confidence, the finish of the lull that has been holding down the market since the beginning of the year may lastly be here.

Jeff Adams Real Estate Seminar Said New Home Sales 8.1% Slip for this June

Two Different types manage your buy lat property it’s a Jeff Adams Seminar Tips

Buy-to-let property is the term used to describe property, which one purchases to rent out with the meaning of making an income. The term also applies to property that you already own and intend to rent out.

Duties of the Landlord two types

Being the landowner of a property is a job that demands a high level of attention and responsibility. The duties of the landlord can be generally divided into two types:

1. Tenant Related Duties

2. Property Related Duties

First Tenant Related Duties

The first thing you all need to do when you are looking to lease out your property is to get the word out. This involves posting ads to reach out to possible tenants. Once you have tenant hopeful, you must vet them to make sure stability. Going through the character references they provide is an easy way to do this. Employers, previous and current are usually a consistent reference.

When setting the rent, ensure that the occupant is well familiar with the minutiae of the rental agreement. Fix on on a date that the rent will be collected on, every month and stick to it to avoid complications. You have the responsibility to resolve any problems that may that arise, like incompatible neighbors.

Second Property Related Duties

Make sure your property is well maintained. Having poorly maintained real estate will mar your reputation as a property-owner and will affect the relationship you have with the occupant. You are lawfully obligated to provide a safe setting for your tenant to live in. 

Regular inspection of the property by both party involved will ensure that any problems are nipped in the bud. For example, the condition of gas and electrical lines connected to the property must be checked at regular intervals. Problems like mold and pest infestation can get out of hand very fast, if left unchecked.

When carrying out property maintenance, it is best to hire the services of a capable handyman. Do not try to fix problems by yourself if you are inexperienced. Any error on your part might be dangerous to the tenant and to you. If you are reluctant to handle the duties that come with renting out a property, you can take on a letting management firm to take care of the property on your behalf.

Jeff Adams Say Six satisfactory Reasons for Evicting a Tenant in the USA

Jeff Adams Real Estate Tips Five Ways to lower your real estate Closing Costs

Jeff Adams Real Estate Tips Five Ways to lower your real estate Closing Costs Real Estate Mortgage closing costs have raised 6 percent over the past year, according to a recent showing Bankrate report averaging $2,539 on a $200,000 loan. The news is worse for you if you live in Texas, where closing costs are the highest rates ($3,046). Nevada closing costs are the lowest rates ($2,265). 

Multiple quotes:

Get estimates from at least three lenders, da Costa says. You are looking for the totality package for evaluation interest rate plus closing costs. You will generally be able to get those numbers by providing a few financial basics over the phone. 

Compare costs:

This is harder than it sounds, since lenders call similar fees by different names, lump certain things mutually that other lenders list separately, and include and exclude certain third-party costs, such as homeowners insurance. Your best bet is to ask for the Good Faith Estimate, which lists all individual fees. It’s the easiest way to compare apples to apples, da Costa says. 

Ask about fees:

Have the lender walk you through every charge and discuss what it includes. Some third party charges, such as appraisal and credit report fees, are pretty set in stone. Other costs, such as title insurance, legal fees, and rate lock fees are more flexible. If the lender has not been sending papers around for name via delivery service, you can have this one nixed. 

Watch for trash fees:

Those are fees a lender will charge that are negotiable, that they can take out, says Ziggy Zicarelli, a real estate and president-elect of the California Association of Realtors. These might include things like application fees, underwriting fees, and loan meting out fees, among others. If they seem vague, they almost certainly are. Sometimes when you push at the more formless charges, they can be lowered or eliminate. 

Ask for the discount and offering:

Go ahead; pit those companies against all other. If one lender is offering a deal, ask other lenders if they can match it. You may be enjoyably surprised when a competitive market results in a smaller bottom line. 

Jeff Adams Real Estate Seminar Tips

Jeff Adams Said Three Important Reasons for new home buyer

Price 

First, you need to know if your area and price range is in a buyer's market. A buyer's market is characterized by big inventories of six months’ supply, fewer buyers making offers, low offers, and many seller concessions. A seller market is characterized by low supply of six months on hand or less, heavy buyer traffic, multiple offers, and close to full price offers.

The Bankers, buyer’s agents and buyers all have access to the same details that your agent has given you. If you overprice for the present market, your potential buyers won't get their loans approved.

Condition

Let your real estate agent to help you market your home by putting it in the best condition possible. Buyer's pet peeves may be easy items to fix, but you don't want your home to go to the bottom of their list because you failed to paint, replace the carpet sometimes you have to invest small money to make money.

Location

You can't do much about your home's location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition. If you do have a great location, don't overprice.

It's hard not to be over-romantic about the home you have lived in for years, but to buyers, your home is a service. Like you, they simply want to make an excellent deal on a home they love.

You will fast discover out what real estate agents and their buyers think of your home. If you get a fast offer, you know you priced it right for the place, condition, and the current market.