Home owners face danger from Asbestos
There are many things to consider when remodeling or purchasing an older home, which is common in the real estate industry. Homes built before 1980 have the strong likelihood of containing asbestos. Due to a steady progression of technology and green sustainable methods, there are many ways to ensure your home or property is asbestos free. If you are interested in saving money, remodeling and improving your carbon footprint, here is some information to get you on the right track.
Used in millions of homes throughout the last quarter of the 20th century, asbestos insulation can become a real dilemma for homeowners due to causing a variety of health problems, including malignant mesothelioma and a variety of other lung ailments. Mesothelioma takes the lives of thousands of people each year and has lead to a variety of mesothelioma lawyers throughout the nation. Manufacturers of asbestos products knew about the harmful effects of asbestos and continued manufacturing the products anyways.
Non-regulated asbestos material can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. Asbestos removal in public facilities, homes and workplaces must be undertaken by a licensed asbestos abatement contractor. Once the removal is complete, green insulation options should be given serious consideration, such as: Cellulose, Cotton Fiber and Lcynene.
The United States Green Building Council (USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S. (see table below) during that year. The numbers continue to improve as more eco-friendly options become available, and those kinds of figures have finally begun to attract those who thought eco-friendly construction was just a bunch of hogwash.
Source:Mesothelioma Cancer Center
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US real estate sales now up!
House sales are officially up in Unites States of America amid some of the lowest real estate house prices in years
NAR President Richard F. Gaylord said low home prices and low interest rates have been attracting buyers. “This is the first time since November 2005 that home sales have been above year-ago levels,” he said. “Credit tightened at the end of September, but the improvement demonstrates that buyers who’ve been on the sidelines want to get into the market to make a long-term investment in their future.”
the US.
Existing home sales increased in September, 2008 both from August and from the same time in 2007 according to the National Association of Realtors. Single family, town homes, condominiums and co-op sales, which are all grouped in the existing home category, rose 5.5 percent from August to a seasonally adjusted annual rate of 5.18 million units for September. That is also a 1.4 percent increase from the 5.11 million unit pace in September of 2007.
The government reported stronger-than-expected sales Monday as discounted properties in subprime hot spots such as California, Florida and Las Vegas fueled a rise in new-home sales. Sales rose 2.7%, to a seasonally adjusted annual rate of 464,000, well above the 450,000 annual units economists had projected. Though a downward revision of August home sales put a damper on the news with sales being adjusted to a 452,000 annual unit pace from 460,000.
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Are you thinking about investing in US real estate when prices are low and your currency rate may be high against the US Dollar? Well you may well be interested to learn about a recent survey which has found the top US cities for house price appreciation. Research was undertaken by www.housingpredictor.com you may be surprised to learn that Mississippi city of Biloxi is coming out on top for 2008.
The city was heavily damaged by Hurricane Katrina in 2005, but looks to see a 4.9% appreciation in housing prices for all of 2008. The government sponsored GO Zone act, or Gulf Opportunity Zone, has helped to drive the reconstruction of the area.
The number two market is predicted to be Salem, Oregon, with a 4.7% rise in prices, followed by Bismarck, North Dakota; Spokane, Washington and Yakima, Washington rounding out the top five. Yakima, which has seen several years of strong sales, had been at the top of the list for much of the year, but has fallen back as things slow down and is now estimated to have a 4.1 percent increase.
The cities from six to ten are Austin, Texas; Grand Junction, Colorado; Fargo, North Dakota; Mobile, Alabama and Idaho Falls, Idaho. Mobile is another city that was hit by Hurricane Katrina and has also benefited from being in the GO Zone. Pascagoula, Mississippi, which comes in at number 16 is another city in this area. Hattiesburg, Mississippi follows Pascagoula at 17, but is toward the northern part of the state and wasn’t hit particularly hard by the hurricane. Its claim to fame is as the home of Mississippi State University.
The rankings from 11 through 25 are: New York, NY; Glen Falls, NY; Salt Lake City, Utah; Grand Forks, North Dakota; Pascagoula, MS; Hattiesburg, MS; Albuquerque, New Mexico; Kellogg, Idaho; Boise, Idaho; Provo, Utah; Ogden, Utah; Edmond, Oklahoma; Oklahoma City, Oklahoma; Amarillo, Texas and Lubbock, TX.
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http://homesgofast.com/blog/?p=2183
In the US Citigroup buys Wachovia Banking Operations are the latest headlines causing a stir amongst the financial markets of the world. It seems the fittest are surviving in the banking world as the big boys eat up the weak and poor banks, but where will it all end? Does the promise of The Emergency Stabilisation Act or Bail Out by George Bush mean that this is the last buy out or takeover?
It seems that many banking organisations that have increasing strength will now have the power. When I say the power I mean they could now get it all their own way with consumers, the markets and the US government.
We all know that competition is healthy in letting the markets decide on pricing and the products that are available. What if we end up with one super bank one unelected corporation that can have a huge influence over us all? The consequences are potentially catastrophic
The sale to Citigroup further concentrates Americans’ bank deposits in the hands of just three banks: Bank of America, JPMorgan Chase and Citigroup would control more than 30 percent of the industry’s deposits.
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Millionaire bankers must be thanking their lucky stars, the Million Dollar Yacht and Private jet may not have to go after all. The US government now poised to bail them out of a situation which the English prime minister Gordon Brown declared was caused by the bankers irresponsibility, is that another word for greed?
A tragedy almost befell the 450 billionaires and 3,000,000 millionaires that live in the United States. The billionaires were on their way to becoming millionaires and the millionaires were about to leave the club. Luckily, Hank Paulson, U.S. Treasury Secretary, felt their pain. His $700 million portfolio was probably taking a bit of a haircut too. There are 305 million people living in the United States. The net worth of all the households in the U.S as of June 30, 2008 was $56 trillion. The 450 billionaires have a net worth of approximately $1 trillion and the 3,000,000 millionaires have a net worth of approximately $11 trillion. So, 1% of the population currently owns 21% of the net worth in this country.
Many of these billionaires and millionaires have accumulated their wealth by managing other people’s money. The customers never have the yachts. The money managers have the yachts. The .1% ruling elite are deciding the fate of your grandchildren in Washington D.C. this week out of public view. The ruling elite have the most to lose. Whose best interest do you think they are looking out for?
As I’ve watched the various business networks over the last few weeks, I sense desperation and fear among the commentators, pundits, and “experts”. It is a fear based upon self interest. Their lives depend upon the masses keeping their money invested in the market. They have overwhelmingly been in favor of the bailout bill. I wonder why. Jim “Mad Money” Cramer, who has a net worth of $100 million, is in favor of the bill. Larry “Free market capitalism is the best path to prosperity” Kudlow, a multi-millionaire, is 100% in favor of a socialist bailout of the criminal investment banks. They support this “blank check” to a government that is already $9.65 trillion in debt, because they want to maintain their lavish lifestyle, multiple estates, and prominent positions in society.
The assumption by homeowners that prices could only go up, supported by lies from the National Association of Realtors and Wall Street gurus, led homeowners to take $3 trillion of equity out of their homes and live a more lavish lifestyle than was warranted by their income. Consumer debt has risen 30%, while durable goods assets (which naturally depreciate) have only risen 24%. Financial Assets outpaced all classes, rising 55%, as the stock market came out of a bear market in 2003. The vast majority of this financial asset wealth increase benefitted the billionaire club and millionaire club. The rest trickled down.
Many are now learning a hard lesson. Real estate asset values declined by $500 billion during the first 6 months of 2008, while mortgage debt continued to rise. Financial assets declined by 4%. The lesson being learned is that real estate assets and financial assets can and will decline. As the recession gets deeper and the bear market growls, asset values will decline by 10% to 20% more. The debt will remain and probably increase. With this proposed bailout, horribly run financial institutions will be relieved of all their bad debt. Who is going to relieve our debt? No one. The executives of these banks will continue to reap multi-million dollar pay packages, while we make their debt payments in the form of interest payments to the Chinese and higher taxes.
excerpts taken from post at http://lewrockwell.com/
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Miami Florida today saw one piece of real estate worth some 28 million dollars literally go up in smoke after a controlled explosion brought the Miami Arena to the ground. The controlled explosion was the end of the line for the stadium built in 1988 after it could not compete with more modern and sucessful AmericanAirlines Arena and the BankAtlantic Center in Sunrise.
Miami Herald report that at 8:06 a.m. that the explosives that were rigged to the steel trusses were detonated and the roof caved in as planned.
”Everything went off as planned,” said Lisa Kelly, the owner of Advanced Explosives Demolition, the company responsible for the implosion.
Lets hope that all in Miami were aware of the explosion as that noise would have been hell of a scare on a Sunday Morning!
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Californian real estate is proving to be a place for the well heeled and rich propertty owners.The Coldwell Banker Home Price Comparison index finds California as one of the most expensive places to buy a US home. The idex compares the average value of a 2,200 square foot house with four bedrooms, two and half bathrooms and a two car garage across the top 315 US markets.
Property in California is really proving to be at the high end with eight out the top ten most expensive housing markets in the United States are in California, while eight Midwestern cities are among the ten most affordable. La Jolla, CA came in as the most expensive community in the country while Sioux City, Iowa came in as the most affordable.
The average price of a home in La Jolla, which is an oceanfront suburb of San Diego in Southern California, is approximately $1.8 million. Following La Jolla as the most expensive cities in the US are Greenwich, CT and Beverly Hills, CA with home prices just under $1.8 million. The rest of the top ten California markets were Palo Alto, Santa Monica, Santa Barbara, Newport Beach, San Francisco and San Mateo, while Boston, MA came in 9th with an average home price of $1.5 million.
After Sioux City, the most affordable markets for housing were Jackson, Michigan, which had an average price of $134,325, and Akron, Ohio, which had an average of $135,780. The rest of the top ten most affordable US housing markets were Canton, Ohio; Grayling, Michigan; Minot, North Dakota; Arlington, Texas; Muncie, Indiana; Killeen, Texas; and Eau Clair, Wisconsin.
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Have you ever wondered how your real estate agent gets paid? Sure, there is talk of commission, percentages, fees, closing costs- all of these are broken down at closing. But, what does he actually get? Surprisingly, you do not pay your agent a commission. Only a licensed broker can get paid a commission and he is the one who pays your agent. There are also a number of ways to divvy up the pay. The person who worked so hard to sell or find your house may not be making as much as you think. Here are some of the ways the money makes it to your representative:
A real estate agent works for a licensed broker or brokerage house. When he brings a client to the table, either for buying or selling, an agreement is signed between the client and the brokerage house. Typically when a sale is made, an average of 6% of the sale price is commission for the brokers. It is not always a straight split, but close to half, which goes to the broker representing the seller and the buyer.
Once the commission is divided up between the houses, the brokers then decide how much to pass down to the agent who actually did the leg work. This amount varies depending on experience, time with the company and the productivity level of the representative. A brand new representative may only get thirty percent of the cut where as a seasoned pro that brings in a ton of business, may get half or more of the proceeds.
Another option is that the agent gets all of the commission, but pays a monthly fee to the brokerage house. This is sort of a rent. He gets an office and uses the company name to back his reputation. This is an attractive deal to many representatives, because they pay the same amount every month, no matter how much they make. For new people to the business who have not built up a client list and do not benefit from word-of-mouth yet, the traditional split is usually preferable, because they may not make enough every month to make the set payment.
There are some factors that eat into the final profit made by the brokerage house and the representative. If the house is a franchise, there is a fee that must be paid to them out of every commission. Sometimes referrals come into play as well. If a brokerage house sends a customer to you, they will want a referral fee. There is a percentage that also comes out of the commission.
Typically, this commission is paid by the seller at closing. However, depending on the type of market, this is negotiable. Another negotiable point is how the commission is divided. If you are having a difficult time in selling, because the market is flooded with houses, you may want your representative to offer a bigger cut of the commission to the buyer’s representative. This may help close the deal.
So, as you can see, there is more to the payment than simply figuring 6%. After everyone else gets the money, your real estate agent is then paid the amount.
There are some factors to be considered while dividing the profit between the broker and the agent. Asheville NC real estate gives you information on division of commission and finalizing the deal. Visit Preferred Real Estate Center http://www.preferredrealestatecenter.com
for details.
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 Italy |
 Portugal |
 England |
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EUR 2,800,000
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EUR 6,500,000
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GBP 5,000,000
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Italian villa renovated to a high standard
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Luxury villa of majestic proportions.
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9 Beds all with bathrooms secluded rural setting
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 France |
 Dubai |
 USA |
| EUR 2,200,000 | GBP 5,742,266 | USD 14,999,999 |
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1860 French Château on 6.5 acres with pool. |
Toscana luxury Huge Villa at Dubai Lifestyle City. |
3 story 6 Bed Villa, waterfront home
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 Queensland, Australia |
 Barbados |
| EUR 1,740,270 | GBP £3,000,000 |
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Huge 1900m2 homes situated in Coolum |
Unobstructed views of the Caribbean Sea |
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How To Buid a Million Dollar Real Estate portfolio
The technique only works in areas where house prices are rising fast and opportunities exist to purchase off-plan properties, where discounts of up to 15% are not uncommon.
Investors begin by purchasing one or two off-plan properties. These are properties that are not yet fully developed or have only just received planning permission. Developers tend to offer larger discounts to people who are prepared to buy properties at this stage of the build.
On completion, the investor will refinance the properties. A combination of rising house prices and the discounts gained at purchase, ensure that the property is refinanced at a higher figure than the original purchase price. The extra money gained through refinancing is then be used as a deposit for another two properties.
This cycle will be repeated a number of times by the investor until they have built up a strong portfolio of investment properties, with a combined value of more than a million pounds.
Further advice
Before deciding to use this property investment technique, it is essential to get further advice on the legal, tax and financial issues.
A number of property investment companies exist to help advise their members on these very speculative investments, but be wary of the less scrupulous companies that charge their members £1,000s to attend seminars or build portfolios on their behalf.
Source: Don Suter is Managing Editor of the UK Property Portal http://www.ukpropertyportal.co.uk, an on line directory and magazine for UK property sales, rental, surveyors, mortgages, conveyancing, property insurance, removals, news, investment and development
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