Tag Archives: real estate

Record Demand for Commercial Real Estate Drives Prices in Vancouver

a view of office buildingsIf you have a chance to buy commercial property for sale in Vancouver, you should grab it. Commercial real estate rental rates are rising as the low supply meets high demand. The trend began in 2016, and experts believed it had peaked by the end of 2017. However, the numbers show that is not the case.

Office Space

Office space vacancies were 10% by the end of 2017. By the opening 2018, it was 5%, the lowest in North America. Developers are rushing to create more space, but it will take at least two years for any of them to be ready. In the meantime, the rent for office spaces is rising.

Some high-end office buildings sell out for as much as $2,000 per square foot. With lease prices at around $50 per square foot, this is a good investment. Pre-leasing is also doing brisk business, with tech companies such as Amazon taking over large chunks of office real estate.

Industrial Space

Office rentals are not the only ones seeing a boom in the market. Industrial spaces are also running out, mostly warehouses. Vancouver has a current vacancy rate of just 2.3%. e-commerce companies looking for a place to store their products took up most of the occupied or reserved spaces.

Rental rates soared by 13.6% in 2017 at $10.23 per square foot because of this demand. Some analysts believe that Vancouver may be the first city in Canada to develop multi-story warehouses.

It is a good time to invest in commercial properties for sale in Vancouver. If you can get a good price considering the potential returns, you should consider putting your money in now while demand is high.

Some experts say that the surge in demand and prices in the past two years will stabilize as companies look outside of Vancouver for more affordable options. Even then, the city will continue to attract top companies for a long time to come.

Avoid These Mistakes When Buying Your Dream Home Through Mortgage

Couple discussing with real estate agentWhile owning a house ranks high on the to-do list of many people, realizing this dream can prove to be tricky. In fact, more than 38 million American households struggle to pay off their mortgage.

Most of these families took on a home loan that was way above their financial capabilities, and now they’re suffering the consequences. To avoid falling into this category, Primary Residential Mortgage, Inc. and other reputable mortgage companies in Oregon noted that you need to take a few proactive measures. Here are some of them:

Don’t get too much house

It’s common for first-time homebuyers to fall in love with a house that’s beyond their price range. Don’t make this mistake, though, as it will leave you vulnerable to foreclosure. For starters, you have to sign up for a bigger loan that you can afford, which gives rise to a series of misfortunes. These could be monthly repayments greater than the recommended 30% or stretching the loan for many years, or both. A long repayment period might seem like a good deal until you factor in the accrued interest.

Don’t settle for an expensive loan

Surprisingly, you have a say about the cost of your home loan. Well, not directly, but your creditworthiness determines the interest rate. Raising a 20% deposit, having a credit score above 700, and a credit utilization ratio of below 30% can make you get friendly rates. The same case applies if you don’t let any of your bills go to collections.

In addition to the accruing interest, unpaid bills lower your credit score and ruin your financial history. Lenders dig into your financial background to determine how much of a risk you pose to them. If you come off as a risky client, they peg you to a higher interest rate bracket.

Failing to prepare adequately when buying a house throws your finances into shambles and could lead you to lose your house. However, with the right preparation, you can ensure a smooth home owning process and avoid foreclosure.

Property Improvement with HUD 221D4 Loan

Home exteriorIf you are into land development or project development investment, then you should consider a multi-family residential unit. The reason a lot of investors and property owners consider the HUD 221d4 loan is the long-term aspects of the loan, the high percentage of the loan, and the non-recourse clause.

Non-Recourse

One of the soft commitment terms of the loan is the MIP, or mortgage insurance premium. What it means is that part of the owner’s payment goes to the mortgage insurance premium. This ensures that whatever happens to the property, the mortgage is paid.

On top of that, the non-recourse condition means that if in case the loan is not repaid, the lender can only take back the collateral for the loan. Even if the remaining loan balance is more than the value of the collateral, the lender cannot go after any other property.

40 Year Amortization

Single-family units seldom have more than 20-year mortgages. In the instance of the HUD 221D4 loan, the amortization period is an extra long 40 years. This allows the borrower to earn money from the property even as he is still paying the mortgage.

The aim of the loan facility is for the HUD to assure mortgage companies that they will pay if the owner defaults. It also provides for the possibility that the loan may not be repaid.

However, for the property owner, the 40-year amortization means that the monthly amortization will be much lower than any other kind of loan.

Loan Amount of Up to 83.3% of the Property Cost

The property owner can loan up to 83.3% of the property cost, which can be used to extend the property or to repair and improve it. Improving property or extending the property for multi-family units means that either more tenants can rent, or that the improvements can lead to increased rents. 83.5% of the property value is a huge amount which can lead to long-term improvements and repair.

The HUD 221D4 Loan is not for everyone. Only those who are going to invest in the long run development of property should avail of the loan.

Things That Homebuyers Look for in a Property

A couple buying new propertyThe south part of the metro has always been known for its laid-back atmosphere. That’s why it’s more popular for people who are just looking for a place to relax after the long busy day at work.

The south still has a lot of open spaces for future homeowners to choose from that are still near most of the major cities. According to property review site South Property Sale, Lancaster New City in Cavite is one such place.

Most people generally opt for a place based on its location and atmosphere. But what are the other things that new homeowners typically look for in a house?

Accessibility

Most people want to leave in a home that has access to public transportation. It has to be located in a place where they can easily get a jeepney, buses, or even LRT on their way to work.

Structure

Since Filipinos do enjoy the company of their friends and family (even the extended families), it’s nice to have a house that has enough space for a family gathering. A typical 3-bedroom home is a dream.

Affordability

With prices surging high, it’s a must to look for a house that fits your budget. Most people who are interested in getting a house are first-time home buyers. It means that they probably are in the middle-income bracket and wants to invest in a property.

Technology

Technology nowadays is a vital part of any environment, especially when it comes to security. It’s important to know that there are CCTV cameras located in various parts of the subdivision to feel that you’re safe.

Most homebuyers also consider the amenities included with their real estate property purchase. A developer who knows how to value your time with family, work and worship is something that you should always consider.

So, try to look for a subdivision or developer who has these things in mind when buying a house.

Discover What It’s Like to Live in Stapleton

community buildingIt is everybody’s dream to live a beautiful life. Especially once the kids start coming, you would naturally want an ideal neighborhood to raise great kids.

One of the most talked about suburbs as of late is Stapleton in Denver, Colorado. This elite, dynamic community offers an attractive premise. Wonder if it’s for you?

To discover if you are well suited for its kind of neighborhood, you can try out living there for a time before actually buying a property. TJC Real Estate & Management Services recommends it. Homes for rent in Stapleton are a dime a dozen. You have a pool of choices to match your home style.

A Vibrant Community to Thrive In

The biggest draw of Stapleton is its people. The eclectic mix of different family sizes, yuppies, and in-betweens that thrive here are positive and pleasant. Everybody’s encouraging everyone else to be their best self through community projects and movements.

Apartment living could either be temporary or permanent, depending on your preference and your budget. It could be your stepping stone to get a feel of what living in this particular suburb is like.

You could make it a lifestyle change, at least for the moment that your bank account is not ready for property acquisition just yet.

A Fast-Rising Suburb

Stapleton has made an ambitious change in recent years when major residential developments engulfed the area. It encouraged an international community designed to bring people together. For that, it gained a good following, and property buyers came storming the area.

Afterwards, parks and commercial centers were also developed, providing the growing neighborhood an opportunity to have a good time without having to go too far from home. And so, its allures as a wonderful community grew.

The 5 Must-do’s When Buying a House

Happy Affectionate Senior Couple Hugging in Front of Sold Real Estate Sign and House.It makes sense to have your own home. After all, you should build and maintain your own worth instead of renting a place to stay. Are you planning to check the homes for sale in Aransas Pass? If you’re a first-time homebuyer, Rockport Properties, Inc. and some experts list some things you should do:

Have a clear view of the kind of home that you want

Visualize your home and take note of its specifications. Doing so will guide you as you tour several homes. Be open to make adjustments if some of them don’t meet your expectations.

Set a budget for your home

Analyze your financial status and be practical. Choose a home that you can afford to pay. Consider the down payment, processing fees, closing fees, and mortgage payments. Also, check if you can qualify for a loan.

Learn the process of home buying

You may need an agent to help you scout for a prospective home. Inquire about specific locations and homes that are up for sale. Go house hunting on your own so you can make an impression of your prospective house without the influence of your agent.

Afterward, inform your agent of your type of home. Listen to their views and opinions, but don’t feel pressured. Feel free to ask questions about the house. Better yet, request for a clue report about the house that includes the insurance claim, damage, and repairs done in the last five years.

Know the property’s history

Ask your agent how long is the property up for sale, who its previous owners were, and how long they have stayed in that house. Secure copies of tax, insurance, and utility bills. All these information will give you an idea of the house’s value and help you decide if the property is worth buying or not.

Don’t rush into buying the property

Don’t be in a hurry to purchase a house. Take your time. Shop around for more properties, mortgages, and homeowners’ insurance. Remember that you’ll be spending the next years or so in that house so make sure that you won’t regret having purchased it.

Having your own home gives you a sense of pride and security. When buying one, just follow the tips above and you’ll definitely end up with the best buy.

 

The Square: Cavite Dwellers’ Next Go-To Shopping Center

Busy shopping centerThere’s a new shopping center situated in the heart of Cavite. It will capture the hearts of those residing there as well. This new modern strip mall has been thoughtfully convenient, and it is a great place for leisure and to heighten the experience of those living in Lancaster New City.

Its great location also offers the best way to save precious hours of time and money on car fuel or long commutes going to The Square (lnc-thesquare.com).

Location

This new shopping center’s strategic location is one of the most accessible areas for the homeowners in Lancaster New City. To avoid the hassle of going out of the area for errands such as grocery shopping, the housing village has provided a shopping center its homeowners can easily reach.

The aim was for them to enjoy a short and enjoyable commute to the shopping center. Say goodbye to the days of worrying about being stuck for hours in traffic, and welcome the new era of relishing a quick and smooth ride to The Square.

Sustainability and Style

The Square was not only made for convenience but also to fit the lifestyle of homeowners in the area. They can indulge in small luxuries that are readily available to them.

Apart from displaying style and elegance, the outdoor strip mall boasts of a natural breeze, which also promotes a very environmental-friendly environment and helps create a more sustainable and cleaner earth.

New and Better Life

Lancaster New City now also offers the convenient option of keeping within your area, whether to relax and enjoy a day with your family or to have coffee in one of the shops in The Square. If you’re curious to know more, don’t hesitate to give the place a visit.

Vetting Before Purchasing: Checking Out Your Potential Neighborhood

A HouseYou may not realize this now, but liking the neighborhood you will be moving to is just as important as liking your new home. Before you fall in love with a home and decide to buy it, carefully evaluate the neighborhood. Aside from using a home mortgage calculator online from American Loans, use web resources to check the area. After that, scout the neighborhood yourself and walk around to get a feel of it.

Whether online or offline, you want to make sure that your new home is close to your family’s daily needs. Here are some ways to find necessary details regarding each facility:

Schools

The U.S. Department of Education website has a school locator page wherein a local map displays all the public schools in the vicinity. You can check each of their details by clicking the “school profile” section. You may also want to visit PSK12 to see all the ratings and rankings of public schools in a region.

Healthcare

If you want a list of the healthcare facilities in your state, county or city including its ratings and rankings, you can find it on the Consumer Reports site. Their web tool even offers details on the record of every facility in, particularly limited performance categories. Angie’s List and Yelp have plenty of patient reviews regarding primary care and local family doctors if you are interested in knowing more.

Your Home

For more details regarding your potential home, try local offices and courthouse of the city or county. They give out records relating to a home that would date back to at least a couple of decades. The information would include deeds and encumbrances, like mortgages and other fees.    

As you find out more details regarding your new home and neighborhood, try to set your standards to a more rational level. Keep in mind that no neighborhood is perfect, so be more realistic with your expectations.

Melbourne, Victoria: Is it a Great Place to Live in?

Melbourne CityscapeAustralia has a lot to offer not only to its residents, but to immigrants as well. It is a vast land with beautiful beaches, breath taking landscapes and bustling modern cities. Due to its temperate climate and stable economy, Australia is a popular destination for immigrants hoping for a new life.

Victoria is a state in south east Australia. Its capital, Melbourne, is a popular choice for people looking to move here. It has a population of about 4.35 million people and it is considered the second largest city in the country.

Though it is a large city, there is no shortage of housing – you can find new houses and land lots at modeina.com.au and other developments in Melbourne’s suburbs.

Here is what you need to know about this amazing city.

Melbourne Attracts Many Immigrants

Melbourne has more immigrants than any other city in Australia. In fact, there are more than 200 different nationalities living in the city, mostly from Greece, China and India.

Living Spaces that Match Your Lifestyle

Melbourne is full of spaces that can match nearly every lifestyle. Melbourne is home to a vibrant music scene, street art, and a robust sports culture.

You can choose to get an elegant flat in the city, or purchase land for sale in Melbourne to build your dream home. Areas close to the central business district are very popular. The city has sprawling outer suburbs too with real estate prices there are especially appealing to first-home buyers.

Weather Is Unpredictable

Melbourne is a city with unpredictable weather. Here, you can experience what it feels like to have all four seasons in one day. You can enjoy warm weather at noon, only to experience a dramatic drop in temperature in the late afternoon.

You Will Never Get Bored

Melbourne is famous for its shopping malls, tourist spots, nightlife and other activities. Life in this city is never boring. You will get to enjoy many fun-filled activities with your family and friends.

Living in a new city can feel scary at first. However, if you do your research well, you will be better prepared to transition into your new life in Victoria. Melbourne is the place to be.

Investing in Real Estate: Commercial Property Types to Consider

Self storage as a form of commercial propertyIf you’re looking to diversify your investment portfolio and include safeguards against the volatility of the investment market, why not incorporate some property investments in your portfolio? If you don’t know where to start, take a look at some of the most common commercial property investment types below.

Retail Spaces or Buildings

The key to this kind of investment is location. For instance, if you want to invest in a standard strip mall with multiple units, you have to make certain that the location receives a consistent stream of foot traffic or you would be hard-pressed to find tenants.

Office Spaces or Buildings

Office spaces are usually in demand in virtually all cities. If you reside in a smaller town, you may consider investing in one unit first with one tenant, such as a doctor’s clinic. If you live in a bigger town or city, you could consider investing in several office units, or even a whole building.

Raw Land Investments

You could make money with raw land investments in different ways. For example, if you bought wooded land, you could contract responsible logging companies to harvest wood from your property. If the property is suited to farming, you could lease it to local farmers, or you could also just purchase some land and sell it later to property developers.

Multifamily Housing

Multifamily housing refers to apartment buildings. With the demand for affordable housing options, yet consistently increasing rental prices, you could generate a steady income stream with apartment buildings. Additionally, you could even take out HUD multifamily loans from mortgage and financial firms such as Bonneville Multifamily Capital to help you acquire multifamily properties.

Industrial Real Estate

This could mean plenty of things – manufacturing facilities, warehouses, and research facilities among others. With this property type, however, it may be harder to estimate demand so you must do your research well when gauging the area where you want to invest.

All types of commercial investment properties come with its rewards and risks, so it’s crucial that you weigh all the pros and cons of each before investing. To start, ask yourself how you are going to finance the property? Is the market viable for the property type you’re planning on buying? How much money can you earn? Do your due diligence before doing anything.