Are Condos a Good Purchase?

Are Condos a Good Purchase?

Condominiums are traditionally the most volatile of real estate investments. Ask anyone who bought condos in the 1970s or 1980s (or in 2005-2007) and they’ll show you the financial scars on their backs.

Condos have made a strong comeback in recent years because of the popularity of purchasing second homes, particularly in resort areas. Whether this trend will continue is uncertain, but keep in mind that condos are generally a tougher sell in most areas than single-family homes. And because condominiums involve a homeowner’s association, you’ll have to deal with management issues, rules, and costs that may be out of your control.

When buying condos consider your prospective tenant or buyer when you resell. Is this priced so high that your pool of buyers is limited? It may be in the median price or below, but how many people live in one-bedroom condos? Is the development so old that the HOA (homeowner’s association) dues are high and will continue to rise as the development ages and needs repairs?

For the most part, condos tend to fit into two categories – rentable and livable. Cheap condos that rent well often don’t appreciate much in value. You can get away with buying a $50,000 condo and renting it for $500/month forever. In 20 years, it may barely have appreciated above inflation. A different condo near downtown or the beach may rent for negative cash flow and appreciate 10 – 15% per year. On short, the normal formulas that apply to single-family homes aren’t as consistent with condos, which is why investors need to approach condos with extreme caution.

Look for Limitations when Buying Condos

Be aware that some homeowners association rules restrict the rental of units, so make sure you check the limitations before you purchase a condo that you plan to rent. Also, many lenders have limitations on financing condos, such as a requirement that a certain percentage of the units be occupied by owners.

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How to Accurately Estimate a Property's Current Market Value

The most common mistake that many beginning real estate investors make is that they pay too much for property. Fact is overpaying for property is often cited as the number one reason why so many newcomers fail to make it as profitable real estate investors. That's because most beginning real estate investors are woefully undercapitalized, and they don't have the deep pockets that are needed to subsidize their overpriced real estate investments.

For many neophyte investors, paying too much for their first investment property usually proves to be a very costly and fatal mistake, and marks the beginning of the end of their foray into real estate. That's why it's imperative that you learn how to accurately estimate the current market value of potential investment properties! As far as I'm concerned, it's the single most important aspect of the entire real estate investment business!

A Fast $15,000 Profit for Knowing the Value of a Condemned House

I once bought a real estate option on a filthy, neglected, run-down, but structurally sound house in a neighborhood-in-transition in Winter Park, Florida, a suburb of Orlando, that had been condemned for building, safety, health and fire code violations. This place looked like something right out of downtown Baghdad, Iraq! It had what code enforcement inspectors commonly refer to as accumulations of every type of debris, garbage and junk known to mankind! The property's owner lived in Westerville, Ohio, and wanted the steady stream of threatening letters from the Winter Park Code Enforcement Board to stop.

I had done my homework, and knew the property was worth at least $110,000 after it was cleaned up. I ended up paying $500 for a one-year option to purchase the house for $75,000. It cost me $2000 to have all of the accumulations removed from the property, and the house, driveway and walkways pressure washed. Three weeks later, I sold my real estate option agreement for a $15,000 profit! This never would have happened if I had been clueless about how to estimate property values. Since I had an accurate estimate as to how much the property was worth in its current condition, I was able to negotiate a below market purchase price that was based on the property's filthy, neglected, run-down non-marketable condition, and not on how much it might have been worth after it had been cleaned up.
records are available online.

The Definition of Market Value

The Appraisal Foundation's Uniform Standards of Professional Appraisal Practice, defines market value as: "The most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the sale price isn't affected by undue stimulus.”

The Difference Between Assessed Value and Appraised Value

The difference between a property's tax-assessed value and its appraised value is as follows:

1. Tax Assessed Value: Tax-assessed value is the value established by the local taxing authority for a parcel of land and the improvements placed upon the land for property tax purposes. For example, in Florida, owner-occupied single-family houses are generally assessed at around seventy percent of their fair market value by county property appraisers.

2. Appraised Value: Appraised value is the value estimate given to a property by a licensed property appraiser using accepted appraisal methods for the type of property being appraised. For example, the accepted appraisal method to accurately estimate the fair market value for an owner-occupied single-family house is the comparison sales method where a property's value is based on the recent sale of comparable properties within the same area.


The Three Common Methods Used to Estimate Property Values

The three most common methods used by property appraisers to estimate property values are the:

1. Comparison Sales Method: The comparison sales method bases a property's value on the recent sale prices of properties that are within the same area and comparable in size, quality, amenities and features.

2. Income Method: The income method is used to estimate the value of an income producing property based on the net income the property produces.

3. Replacement Cost Method: The replacement cost method is based on what it would cost to replace the improvements on property using similar construction materials and construction methods.

The Comparison Sales Method of Estimating a Property's Value

The comparison sales method of estimating a property's value is based on the recent sale prices of properties within the same area that are comparable in size, amenities and features. In order to be accurate, sale price adjustments must be made for comparable properties that have been sold at unrealistically low prices or on overly favorable financial terms not readily available to the buying public.

The Income Method of Estimating a Property's Value

The income method is used to estimate the value of an income producing property based on the net income the property produces. Under the income method value is calculated using a:

1. Capitalization Rate. The capitalization rate, or cap rate, is calculated by dividing a property's annual net operating income by its purchase price.

2. Gross Rent Multiplier. The gross rent multiplier, or GRM, is calculated by dividing the purchase price by the property's monthly gross operating income.

Watch Out for Owners Using Fuzzy Math

A word to the wise: when you read a property's income and expense statement, you should always go under the assumption that the owner is probably practicing fuzzy math by fudging on the numbers, and telling little white lies to back them up. Also, use a monthly income and expense analysis worksheet like the sample copy below, to cross-check everything that's listed on a property's income and expense statement in order to reconcile the statement with receipts and tax returns against what's shown on:

1. Schedule E (Supplemental Income and Loss) of the owner's latest federal income tax return.

2. The property's latest annual tax assessment income and expense statement on file at the county property appraiser or assessor's office.

3. All of the rental agreements for the past year.

4. Water, sewage, solid waste, gas and electric bills for the past year.

5. Repair and capital improvement bills for the past year.

The Replacement Cost Method of Estimating a Property's Value

The replacement cost method of estimating a property's value is based on the cost of replacing the improvements on the property minus the cost of the land to estimate a property's value. Replacement costs are calculated on a per square foot basis by dividing the total number of square feet in the building by the per square foot construction cost. For example, a two thousand square foot convenience store that cost $375,000 to build would have a replacement cost of $187.50 per square foot, $375,000 divided by 2000.


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Tips for Selling a House

As the real estate market returns to a normal pattern of buying and selling, some sellers are easily frustrated. If your house is not selling, here some tips for selling a house.
Tips for Selling a House

Selling a house is similar to a job interview or a first date. Presentation tends to go a long way in determining the outcome. That might sound a bit shallow, but it is simply a fact of life in many endeavors including real estate. To this end, sellers have developed bad habits when it comes to selling their house because of the recent hot seller's market. A few basic tips for selling a house can get you back on track. 

Most real estate comes with a garage. If you have lived in the property for any amount of time, you have undoubtedly stored numerous things in your garage. I have! When the time comes to sell your property, however, you need to give your garage the once over. Items you consider priceless heirlooms might be considered junk by buyers. A messy garage is also a negative. Remember, buyers expect you to have the house in pristine condition. Anything that does not reflect that will hurt you in the eyes of these individuals.

Undoubtedly, your house has some amazing interior features. Instead of just assuming the potential buyer understands the value of them, you should highlight the features. The best method for doing this is lighting. Make sure you have sufficient lighting in the relevant area by opening drapes or going with more powerful light bulbs. If you have beautiful marble flooring and counters in your kitchen, make sure there is sufficient lighting to make them stand out.

Your lawn is the first thing a potential buyer is going to see when they pull up to the property. Keep it trimmed and cut back any jungles. Give some thought to the walkway to the front door. Planting flowers and such can go a long way.

Make sure the entrance is a positive aspect of your house, not a negative. Make sure the front door is in perfect shape. The entry area should also be focused on. Add plants, rugs and what have you to make a good impression. Next, walk in through the front door and take in the view. Is there anything that gives you pause and can be improved? If so, do it!

Declutter, clean, and organize all storage areas.

The real estate market has cooled to the extent that houses are not selling in three days anymore. Three months is more nearly the norm in many areas. Returning to the basic fundamentals of selling a house is the key to getting the offer you need. These tips for selling a house should help.

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Quick Ways To Sell a House

Every homeowner is looking for quick ways to sell a house. It is just a fact of life and to be expected. Of course, the real question is how you achieve your goal!
Quick Ways To Sell a House

Once you decide to sell your house, you want to move it quickly. That may sound like an assumption on my part, but I have yet to meet a seller who wanted to wait months and months before accepting an offer. Admittedly, they are probably out there, but you are not one.

So, let's cut to the chase with the following tips on quick ways to sell a house.

1. Don't worry about major upgrades. This can be expensive and time intensive. Worry about quick changes that will make major visual improvements. We are talking touch up paint and landscaping.

2. As moronic as it sounds, clean your house! And the garage! And the side of the house you haven't visited in a few years! And the closets! And the garage again! Have the carpets professionally cleaned. Heck, have the entire home professionally cleaned. You want to aim for the look of a model home in a new development.

3. If you have children, a battle may be required. I am talking about their rooms, the place where few parents are willing to tread. Posters on the wall come down. Now. Beds made, clothes in the hamper. Yes, the closets must even be organized. I fully realize this may sound like Mission Impossible IV, but it must be done. Threats and bribery are highly recommended to achieve the desired results!

4. If you have pets, they belong outside. No, I am not against pets. The issue is their hair on the carpet?the couch...and so on.

5. Smell is one of our senses that figure into our impressions more than we realize. If you are going to be showing the home, get flowers, candles or cook something mouthwatering before the potential buyer arrives.

The above represent common sense tips on quick ways to sell a house. They will help you close that deal, but there is one area that is the key to really moving a house quickly - the price.

The quickest way to sell a house is to list it below similar homes for sale in your area. It is that simple. Buyers are looking for a steal. Generally, this translates into buying the cheapest house on the block with the intention of upgrading it and reaping equity gains. Some get around to the upgrades, some do not. Regardless of the condition of your home, the key to moving it is price.

See, there are quick ways of selling a house. Most of the steps are based on common sense. As to setting a price, you want to be below the homes in your area. How far below depends on how quickly you want to move the property.

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How to get Explosive Profits by Establishing the Value of Real Estate

You've located the property that you are potentially interested in purchasing, have looked at it, and determined that it meets your basic investing goals. Before you pat yourself on the back for a job well done, you need to establish its value to avoid potential financial disaster. If you take the word of the seller or the county tax rolls to establish its value, you could lose your shirt, especially in a real estate market that has seen values drop by tens of thousands of dollars within a matter of months.

Depending upon the kind of investor you are you'll utilize one of the three methods of establishing the value of a property. They are:

Comparable Sales – If you're investing in primarily single-family or multifamily properties with fewer than five units, by far the most popular method of establishing value is the comparable sales method. This method consists of locating recently sold properties that are substantially similar to the one you are considering purchasing and are located in the same general vicinity. A skilled appraiser typically has many years of experience in determining value, but you can do the same thing either by going to your county courthouse and compiling the information yourself or by working with a realtor who might be willing to provide these figures to you. You can also get a rough estimate of values in many areas by utilizing an on-line resource such as Zillow.com. Once you have your comparable sales figures you’ll need to compensate for any differences, such as the lack of a garage, fireplace, or even a swimming pool. In order to compensate for the differences in square footage of your subject properties, you can divide the sales prices by the square footage of living space to come up with a cost per square foot.

Replacement Cost – While not nearly as popular as the Comparable Sales method, another way of determining the value of a property is by estimating what it would cost to re-create the same property in the same area. You would need to determine building costs, the cost of materials, and also make allowances for depreciation of the property so that it is substantially similar to the property you are considering purchasing. If you're experienced at estimating building costs accurately and are aware of the current cost of building materials and supplies, the replacement cost method may be one which you will want to utilize. However, it isn't utilized very frequently. If the Replacement Cost method is one that you'd like to use to determine value, you could very quickly arrive at a figure by contacting a local contractor and asking them how much they would charge you by the square foot to build a home in the area of your subject property. Don’t forget to factor in depreciation to match the condition of your subject property.

Income Valuation Method – The third method of determining the value of a property is to use the Income Valuation Method, sometimes referred to as the Net Income Approach. This method is used to determine the market value of a commercial property or a residential property with more than five units. It’s a relatively simple process. First, determine what the gross income is for the property and then subtract all expenses, including debt service on an annualized basis. Multiply that figure by a factor of ten. The resulting number is about what your property is worth. What’s nice about this sort of property is you can increase its value simply by increasing its net income, reducing operating expenses, or both.

Once you’re able to determine the value of a property you can write an intelligent offer that doesn’t cause you to run the risk of overpaying for a property. Remember, though, that real estate prices are extremely volatile right now, so make sure any properties you use for comparative purposes are recent sales figures. If you have accurate numbers, you can write impactful, precise bids that stand a greater chance of being accepted and allowing you to turn average returns into explosive profits.

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How to Find the Right Builder

Where To Look

The first piece of advice anyone will give you is to go for personal recommendation, but there’s more to do than simply getting a name from a neighbour. Talk to people locally who’ve had building work done recently – especially on a house of a similar age, and on a project of a similar size, as this will help you track down someone with the right expertise and an appropriate size of firm. If you are using an architect for your project, they may also have recommendations.

#1 Interview several builders. Ask an architect for recommendations. If a real estate agent assisted you when you purchased your lot, ask the agent for several recommendations. Also consult friends and neighbors.Once you’ve assembled some likely candidates from reliable sources, ask at least three builders for a written quote. The more detailed you can be at this stage about what you want done, the more accurate the quote will be. This is obviously easier if you already have architect’s plans or drawings you submitted if you had to obtain planning permission. Be clear about what needs to be included as well as the job itself: materials, taking away rubbish and so on.

#2 Review your completed plans with each builder, or ask the builders about designing plans for you.You should also ask for at least three references from each builder. You need to take the time to follow these up, and if possible, pay a visit to check the quality of the job. Ask plenty of questions about the builder’s work and how the project went, as you may find out details that’ll be much more useful than a general, ‘Yes, it all went fine.’

#3 Make sure that all the builders see the building site and are quoting to build the house on that site, including excavation and any other site-specific costs. You should also make sure that each builder you ask to quote has appropriate liability insurance – ask to see the certificate.

#4 Get price quotes from the builders and compare them, making sure that they each bid on the same items.It’s also important to ask about payment terms. If they ask for a deposit, be wary. However, it is normal for larger projects if they ask to be paid in installments as each stage is completed.Deposits are usually only payable where specific or custom-made materials are required or where the project will take a long time to complete. Otherwise, avoid paying deposits, and agree any payment schedule in writing.

#5 Ask for references--particularly previous customers--from each party. Check the references. Be sure to speak with them when the builder is not present. Look at some of the houses the builder has constructed.If possible, start by getting a referral from family or friends who have recently had work done.

#6 Retain an attorney with experience in construction cases to draft or review the contract. Be sure that the payment schedule for the builder is clear and understandable.Ensure the builder belongs to a respected trade organisation as it will have membership standards and requirements. Don't forget to make a call to make sure membership is current.

#7 Make sure that the contract specifies the start and completion dates. Insist on some type of late fee or penalty if the completion is delayed past a certain grace period (notwithstanding circumstances beyond the builder's control, such as inclement weather).Contact your local builders association and ask for a list of registered members. The National Federation of Builders has 14 offices around the country which can provide you with a list of registered builders in your area.

#8 Execute the approved contract.Ask two or three builders for estimates in writing. Ask them to confirm whether there is any planning permission required for the work.Ask each builder for two or three references from previous customers. Contact these people and find out how happy they were with the work carried and the builder's conduct. If possible go and view some of the work.

#9Make any required deposit payment, and be sure to write your checks as per the schedule (not earlier and not later).You should make an agreement or contract in writing with your builder. It should outline the work to be done, date of completion, security and safety, catering and lavatory arrangements, disposal of waste materials, hours of working and so on.Ask to see the builder's public liability insurance certificate. Also, the building work may affect your home and contents insurance - contact your own insurance company.

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Modern Small Kitchen Design Ideas

Modern small kitchen designs are very much in demand these days however, unlike earlier when the idea of modern small kitchen design was not so popular but opposite to it, nowadays people are giving more emphasis to modern small kitchen design. It seems as if modern lifestyle is completely coordinating with Modern design, which in fact has made it possible to have modular yet modern kitchen even in a very small area.

Never the less, due to the fact, that there are various Modern small kitchen designs available these days, the implication of right and appropriate Modern small kitchen design is the most significant concern. So if you also want to implement particular Modern small kitchen design in your kitchen there are several things, you should consider.

The foremost aspect in this context is to select a particular theme for kitchen design, doing this will enable you to bring a splendid change within a particular region also, you will be able to coordinate things accordingly. Otherwise, if you try to implement change in very small kitchen area without even considering particular kitchen theme, you will merely end up creating mess.

If you don’t have any idea about it, collecting relevant information for modern small kitchen design is the best solution for the same and online is the best place to acquire necessary information about kitchen designs. Next important thing one need to emphasis while considering specific modern small kitchen design is the use of kitchen equipments and kitchen amenities you require.

Always remember that besides making kitchen area look good, the kitchen design should also complement kitchen amenities, as it is the most significant aspect of modern kitchen designing.

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Luxury Modular Homes

The reasons behind luxury modular homes becoming popular is the simplicity of the construction process, low costs incurred on such homes, and other factors like durability, ability to survive adverse and harsh weather, etc.

What is a Modular Home?

The modular homes are a good alternative to the traditional homes, and they save cost, time, waste generation, etc. The modular homes are assembled from parts or units known as modules. The modules are prefabricated sections that are transported from one place to another, and thus it eases the process of building a house. Earlier, people didn't show much interest in building modular homes, since their quality was not up to the mark. Nowadays, modular homes show great variety and additional features in their construction. Modular home construction utilizes materials that are strong and remain unaffected by weather changes while building them.

Luxury Modular Homes

The modular homes have changed with time and one can add luxury features and designs in the structure of these houses. The basic structure or framework of these luxury homes remains the same, however, variations in designs implemented by architects and other accessories prove to be the distinguishing features of such homes. The techniques used for constructing modular homes and the material used in the process give them an edge over other types of homes.

Read more on modular home prices.

Construction Process
The process of constructing modular homes takes less time as compared to the conventional ones. The average time required to build such homes is around 12 months. Most of the construction/assembly work is contracted to third parties. Bad weather is not the limiting factor in building modular homes. Luxury modular homes could also be made strong enough to resist harsh weather and even hurricanes. One such home built in Hubert, NC is a perfect example of versatility and durability of luxury modular homes. This luxury house built by 'Handcrafted Homes', Henderson, NC, can resist wind speeds up to 130 mph. The various luxury features included in this house are an elevator, Hardie plank sliding, glazed kitchen cabinetry, etc.

Custom Designing
The Computer Aided Design (CAD) software available in the market allows the customers to create custom designs for their future homes. It eases the work of manufacturers, since the specifications provided by customers helps in planning their work. The features like skylights, whirlpool tubs, vacuum cleaning, bay and bow windows, etc., could be included in the construction of these homes.

There is a lot of scope to embellish and decorate these luxury modular homes. One can decorate modular houses with hardwood floors, granite-topped kitchen tops and many such things. The modular homes could be scaled up to big sizes and the spacious 4000 sq. ft houses are a nice example of such grand luxury modular homes. The modular homes are far different than mobile homes, which emphasize more on the factor of portability. The modular homes on the other hand make the task of construction easier by assembling the components.

Luxury modular homes are thus a nice option in comparison to the costly conventional homes which not incur higher costs on the part of customers, but also consume a lot of our time.

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Modern Kitchen Design Ideas

It is not about the items or accessories that will give your kitchen the feel of a modern kitchen, but the design itself. So, keep in mind the elements below; and shop for items, furniture or accessories which go in harmony with the design elements.

Clean Lines
Always maintain clean long lines in the kitchen. This doesn't mean that there can't be curves; you can also opt for kitchen countertops or other furniture that are curved in shape. You can go for wooden flooring where you can see the horizontal lines of planks, to add more to the effect. Maintaining clean lines will not just give the feel of a modern kitchen, but also help to make the kitchen look bigger. Modular kitchen furniture and other modern furniture like table and chairs will also add more to the use of lines. You can also choose a table which is horizontal or or semi-curved, and go for chairs that depict a modern design. Go for table and chairs having sleek legs made of steel. Using a glass table top will also help to enhance the look.

Colors
Go for a two colored theme, avoid too many colors, also try to avoid a black and steel colored kitchen. It is good to avoid any interior painting ideas, to give the feel of an uncluttered kitchen. Some of the best color combinations for modern kitchens are aqua blue or green walls with some portions of the walls painted white, and white kitchen appliances and other steel items. Another great theme is half lavender and half white walls with black appliances and steel furniture. Try to avoid going for the basic off-white kitchens, but if you can't decide on wall colors then choosing the off-white color for the walls and white appliances is a safe bet. Make sure you add few accents like a vase with flowers, chairs with good color seats or a few paintings in an off-white modern kitchen decorating idea.

Lot of Light
Make sure the kitchen has plenty of light. In theme kitchens like Tuscan or French Country kitchens, an old and yellowish light tinge is given. But in a modern kitchen white soft lights are used. Make sure there are enough windows to let the natural light in. If there isn't enough natural light, consider installing a skylight or an additional window. To increase the artificial kitchen lighting, add extra lighting by hanging some modern design lamps that go with your modern kitchen decor, like the ones shown hanging from the ceiling in the picture.

Uncluttered Space
Modular kitchen furniture itself provides enough space to store all the items, so the possibility of clutter is the least, and kitchen cleaning is an easy job. There are enough shelves for you to store utensils, and sections are made in modular furniture to store appliances like ovens. Place your refrigerator in a way that it takes minimum space, and at a place where it is nearby for you to access. Try to avoid any open shelves, if you still want more space then consider installing some more kitchen cabinets. Make sure you always maintain the countertop uncluttered.

These were the modern kitchen ideas and guidelines to help you to create a unique and modern looking kitchen. So, if you remember the above tips, even you can design and create your very own great looking modern kitchen!


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Finding the Right Home

Finding the right home Thinking of buying your dream home? Looking through the real estate listings in Greensboro will be a big help in your searching. Even though the real-estate market now days offer a variety of options to choose from, finding the right home that suits your needs and budget can be quite a tedious task. When out looking for a home there are a lot of things that you need to keep in mind for getting a favorable deal. It also depends on your finances regarding the afford ability of the house.

Purchasing a home is a major decision and it is always beneficial to go about the whole process in an organized manner. Before finding the right home get yourself pre-qualified by a lending organization as to how much do you qualify for a mortgage. Adding the down payment to the loan amount you will be able ascertain the exact amount of money you will have to buy the house. A key point to remember in all of this is to always staying below your maximum price range as it will allow you to take care of any unexpected expenditures later on. Once you have sorted your finances and figured out your price limit, you can start searching in the area of your choice.

Try doing a survey with the help of the Internet. Information about local schools, hospitals and the level of crime rate can come in handy while determining your decision for finding the right home in the right area. Also figure out the proximity to your work, shopping center and other useful places. After you have done your research and figured out your spending amount, look for a reliable Realtor.

Real estate agents would be able to assist you in a much better way for finding the right home. They are familiar with the area and would be able to provide you with any background information regarding the property of your choice. You will be astonished to see the number of listings that the real tors have with them which would be quite helpful in your search. After narrowing your property search to 2 or 3 houses in the area of your choice, inspect the houses thoroughly. Make sure the structure is sound and the layout is unto your expectations.

You can also include the paint work and woodwork as part of your negotiations. When fully satisfied, only then get to the necessary paperwork part. Remember finding the right home can be an exhaustive task but it is also one of the major decisions of your life. Make it a good one. Real estate listings in Greensboro can help you make this decision. Let a real estate professional assist you.

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Struggling to Sell Your Home? Trade It with AurumEstates.com Sophisticated, Matching Technique

This release is about the trials and tribulations of a family trying to sell a home in today's plagued real estate market. After implementing the traditional methods with no luck, they finally turned to AurumEstates.com, and within 3 months successfully sold their home using a untraditional method, House Trading.

There's no question that today's real estate market is plagued with tumbling prices, and Pam and Michael Daidone can attest to how frustrating trying to sell a house in today's market can actually be.

After two full years of trying to sell their house with no success, the Daidones decided to give house trading a try. They signed on with several online trading sites
, but it was AurumEstates.com that brought them success. AurumEstates.com (http://www.aurumestates.com) is a network for people wanting to trade houses, and provides sellers with the same state-of-the-art technology that some of the most successful online dating services use; a technology that helps ensure both sellers "come to the table" as a perfect match to negotiate their deal.

"My wife Pam and I first tried to sell our house with a Realtor. We priced our house comparable to our neighborhood and hoped it would move quickly. We had a lot of showings, but all negative comments. So, on the advice of our agent, we dropped the price, and dropped it again and again and then hit a point to which we could not lower it anymore and still pay a commission." They finally had to take their house off the market.

Frustrated and discouraged, they consulted experts and read articles on what to do to sell your home for 'top' dollar. With all this advice in mind, they decided to bite the bullet and update their home, investing tens of thousands of dollars. According to Mr. Daidone, "We did everything the 'experts' suggested to do and addressed most of the original complaints from the first showings. Nothing was left untouched. The house was gorgeous!" Still no sale.

The Daidones did receive a couple of offers from other sites – but neither had the criteria they had requested. Mr. Daidone even sent inquiries to over 20 homeowners listed on these sites and not one replied. "I had to ask the sites if something was wrong. They informed me it was working fine."

Finally, about a month later they received an email through AurumEstates.com from a young woman asking if they wanted to trade. The Daidones were skeptical, given the offers they had received previously from the other sites, but agreed nonetheless. They made arrangements to meet and look at each other's properties on the same day and, as Mr. Daidone explains, "We discussed prices on their front lawn. To my amazement, after only 10 minutes of haggling, we had reached a deal. A handshake was all it took to get things moving."

According to Mr. Daidone, thanks to AurumEstates.com, "We were finally able to move on, after two years of stress and anguish; all because we, at last, had a couple who understood the current market, options and the value of things."

"The Daidones now live in their new home in Streamwood, Illinois, a short distance from their original location in Elgin." Daniel Westbrook, CEO of AurumEstates.com says. "What's more, their story provides hope for people facing today's crumbling real estate market." and "House trading is also ideal for military personnel or professionals who need to transfer or relocate quickly."

Already, AurumEstates.com has been so hot that it has landed stories in publications such as Money Magazine and The Wall Street Journal and on several morning shows, such as "The Today Show," "Good Morning America" and "The Early Show." A viable solution for the crippled real estate market, house swapping is an easy, cost-effective process thanks toAurumEstates.com. Working much like search engines on matchmaking websites, AurumEstates.com collects a user's pertinent information regarding his or her home and then matches it with a property featuring the inverse criteria. The two sellers cut costs by receiving a higher price for their home; the swapping process — or the selling of the two homes between the perfectly matched sellers — is an extremely streamlined operation.

"The word is spreading like wildfire that house swapping really works," Westbrook says. "We're seeing amazing results through AurumEstates.com and are thrilled to offer a viable solution to buyers and sellers everywhere."


Visit Us At Flats in Gurgaon, Villas in Gurgaon, Property Dealers in Gurgaon, New Residential Projects in Gurgaon, gurgaon properties, gurgaon builders, buy apartment in gurgaon

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AURUM ESTATES Has Become a Pivotally Positive Aspect of the Troubled Real Estate Market

AurumEstates.com is an online real estate listing service that serves as a matchmaker between two sellers in an effort to assist them in buying each other's homes. Whether it be relocation, upsizing, or downsizing, AurumEstates.com is meant for any home seller who hopes to move.

PR9.NET June 03, 2009 - AurumEstates.com is the light at the end of tunnel for prospective buyers and sellers in this troubled economy. Real estate has been one of the most affected markets during our country's economic crisis. Now a solution has brought relief to some that are trying to buy or sell (just sell) property.

AurumEstates.com is an online real estate listing service that serves as a matchmaker between two sellers in an effort to assist them in buying each other's homes. Whether it be relocation, upsizing, or downsizing, AurumEstates.com is meant for any home seller who hopes to move.

Vijay Chawla, a current resident in India, tried house trading online and uncovered a beneficial alternative to assist his long-awaited sale of his home in Florida. With this easy-to-use service, Mr. Vijay Chawla was able to sell two homes within a six month period using AurumEstates.com as his only resource.

Vijay Chawla, co-founder of AurumEstates.com asserts that, "We provide hope for people facing today's crumbling real estate market." Chawla pointed out that, "House trading is ideal for military personnel or professionals who need to transfer or relocate quickly." Many realtors have begun listing their client's profiles and properties in this pioneering database with remarkable success.

The economic difficulties in our country are causing turmoil in the real estate market; AurumEstates.com offers a solution that will help real estate become a leader in our country's economic recovery.

For more information, visit: Real Estate Agents Gurgaon, Residential Property in Gurgaon, Property Dealers in Gurgaon, New Residential Projects in Gurgaon

Contact:
Vijay Chawla
AURUM ESTATES
#1-2, Opp. Uniworld Gardens,
Adjoining indian oil petrol pump,
Sohna Road Gurgaon
(Haryana) 122018
Tel : +91 124 3295123
Mob : +91 9811210388
Fax : +91 124 2217833
Email : aurumestates@gmail.com
Website : http://www.aurumestates.com

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AURUM ESTATES launches new website service for tenants to find suitable rental properties in Gurgaon and India

 new free property rental market website service launched this week to help tenants realize the benefits of this premium service. http://www.aurumestates.com provides simple and straight forward assistance finding suitable rental properties for seeking tenants. A one stop shop with fast solution instead of approaching numerous real estate agents and websites.

November 16, 2010 (FPRC) -- Gurgaon,India -- A new free property rental market website service launched this week to help tenants realize the benefits of this premium service. aurumestates.com provides simple and straight forward assistance finding suitable rental properties for seeking tenants. A one stop shop with fast solution instead of approaching numerous real estate agents and websites.

Tenants can visit  http://www.aurumestates.com to submit a contact request form with their requested specifications of the desired rental property and in return, they will be presented with suitable properties.

The benefits are clear:
• Time saving
• Individual & customized selection process
• Simple, easy, fast and effective solution
• One contact only process


Newly created in 2010, www.aurumestates.com is an online service for people looking for rental properties in Gurgaon. This site is an equivlent to the similar website for Brisbane, RentalPropertiesInBrisbane.com.

Houses, townhouses and apartments for rent, whatever the searching party is looking for, can all be done with one request. The requesting tenant simply states the desired criteria and submits with contact details upon which the leading real estate agency behind the website, quickly responds with a presentation of suitable properties. No more spending endless hours looking, talking to a variety of agents and wasting time on searching for the right property. The website was created by Vijay Chawla from FirstOneLocal, a business providing internet marketing services to local businesses.

A simple website, uncomplicated approach but a super service with great effect.
Visit Us At  Houses - Apartments for Rent Gurgaon, Rent Apartment Gurgaon. rental properties in gurgaon

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AURUM ESTATES launches new website service for tenants to find suitable rental properties in Gurgaon and India

 new free property rental market website service launched this week to help tenants realize the benefits of this premium service. http://www.aurumestates.com provides simple and straight forward assistance finding suitable rental properties for seeking tenants. A one stop shop with fast solution instead of approaching numerous real estate agents and websites.

November 16, 2010 (FPRC) -- Gurgaon,India -- A new free property rental market website service launched this week to help tenants realize the benefits of this premium service. aurumestates.com provides simple and straight forward assistance finding suitable rental properties for seeking tenants. A one stop shop with fast solution instead of approaching numerous real estate agents and websites.

Tenants can visit  http://www.aurumestates.com to submit a contact request form with their requested specifications of the desired rental property and in return, they will be presented with suitable properties.

The benefits are clear:
• Time saving
• Individual & customized selection process
• Simple, easy, fast and effective solution
• One contact only process


Newly created in 2010, www.aurumestates.com is an online service for people looking for rental properties in Gurgaon. This site is an equivlent to the similar website for Brisbane, RentalPropertiesInBrisbane.com.

Houses, townhouses and apartments for rent, whatever the searching party is looking for, can all be done with one request. The requesting tenant simply states the desired criteria and submits with contact details upon which the leading real estate agency behind the website, quickly responds with a presentation of suitable properties. No more spending endless hours looking, talking to a variety of agents and wasting time on searching for the right property. The website was created by Vijay Chawla from FirstOneLocal, a business providing internet marketing services to local businesses.

A simple website, uncomplicated approach but a super service with great effect.

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AURUM ESTATES launches Luxury Home Sales

Gloomy news that July sales of existing homes dropped 25.5% year-over-year has overshadowed new statistics showing summer sales of million dollar plus homes significantly outperformed other price ranges.

“Luxury home buyers have been buying this summer,” said Vijay Chawla, Broker - Owner AURUM ESTATES  and member of The Institute for Luxury Home Marketing . “After waiting in the wings, many affluent buyers spent the summer shopping for value and snapping up trophy properties.”

Statistics would indicate that he’s right. According to The National Association of Realtors (NAR), for 2009 million-dollar and above home sales were just 1.2% of total sales or about 61,500 sales nationally. In July 2010, million dollar plus market share was up to 1.9%. While sales of homes in the $500,000 and above range rose dramatically in June, the million-dollar-plus market segment was the only price range in July showing positive growth compared to last year. “The mix of what is selling has shifted in favor of homes priced at $750,000 and above,” said Vijay Chawla, Manager of  AURUM ESTATES

NAR’s report that July’s median sales price increased 0.7% year-over-year may be more a function of increasing sales of expensive properties relative to other price ranges than an indicator of across-the-board home price appreciation.

According to the Institute for Luxury Home Market (ILHM) National Luxury Market Report -- which does a weekly analysis of luxury homes for sale in more than 30 major markets -- after a dramatic rise in upper-tier inventory, which started in January of this year, the numbers of luxury homes for sale has declined about 5% since the beginning of July. Along with a decrease in inventory, there has been a decline in asking prices. Forty three percent of luxury homes currently on the market have had at least one reduction in asking price over the last 90 days. An additional 19% have been pulled off the market and subsequently relisted.

“While I wouldn’t say the luxury market is in recovery,” said Vijay Chawla, “the growing market share of luxury sales relative to total sales, a slight downward trend in inventory, and sellers who are more realistic about price are factors shifting the affluent into a buying mode.”

Aurum Estates Properties, Inc.
Aurum Estates is a real estate company that is young, progressive and customer centric. Our distinctly different approach to real estate projects and our genuine concern for our customers are the reasons why we are what we are today- a company that is trusted by it’s customers and a company that is marked by a sense of excellence.
Aurum Estates since its formation in 2002, has come to occupy a special place for itself in the highly competitive realm of real estates, offering a range of services that is unmatched in its scope and quality. Our work bears testimony to this fact.We are probably one of the few to be able to offer every solution that comes within the ambit of real estate business: sale& purchase, relocation, real estate investments, real estate consultancy and management.We believe in offering a solution that works and an investment decision that changes the lives of our customer

Contact Details:
AURUM ESTATES
#1-2, Opp. Uniworld Gardens,
Adjoining indian oil petrol pump,
Sohna Road Gurgaon
(Haryana) 122018
Tel : +91 124 3295123
Mob : +91 9811210388
Fax : +91 124 2217833
Email : aurumestates@gmail.com
Website : http://www.aurumestates.com

Read More