Monthly Archives: June 2012

Truths about Real Estate Investing

Investing in Real Estate

Investing in Real Estate

Real estate

investing is big business these days, but just as with any “boom” there are some misconceptions out there about what’s really trending. Steve Cook, real estate and government writer, discredits five popular real estate investing myths in his article “

Buying a Home: Facts and Fictions about Investing” on the Equifax Finance Blog.

Myth 1: Real estate investors are basically flippers who buy and sell properties as fast as they can. Flipping isn’t easy these days, because home prices are still incredibly low in most areas. Investors want to buy low and sell high and flippers are having a hard time doing that. They can buy low, but just can’t sell high.

Myth 2: Real estate investors must be rich because they buy homes with cash. According to a study by the National Association of Realtors, 51% of investors did not pay cash – they either took out mortgages on the homes and lived there while fixing them up or they took out home equity loans or second mortgages on their homes. Of the 49% reportedly paying cash, many of those were actually bought with loans from real estate investment firms. The number of homes truly bought with cash is probably much lower.

Myth 3: By turning homes into rentals, investors change the nature of neighborhoods. Cook does a good job explaining the rental/ownership cycle that many neighborhoods will experience. Right now, demand on rentals is high, and investors can make more money by

buying a home and holding onto them as rental units. But as the market shifts, which it will, those renters will want to buy, and demand for rentals will decrease. As rents decrease, it will no longer be cost effective for investors to keep holding onto those properties – they will make more money by selling them.

Myth 4: Investors are interested only in lower-priced properties. Investors can get the best deals on foreclosures and short sales, which are priced much lower than comparable homes for sale. Smaller, entry level homes are in greater demand than larger, more expensive ones, and cost less to fix up.

Myth 5: Real estate investors are full-time professionals. Real estate investing is filled with newbies, one-timers and those who didn’t intend on getting into it. A recent Move study showed that only 36.5% of investors has experience in one or more property transaction.

Have you considered real estate investing? If so, now may be the time. Visit the Equifax blog for more tips on real estate, as well as retirement, credit, insurance and more.

Carolina One Real Estate is Leading the Commercial Market

Downtown CharlestonEver been to the beautiful city of Charleston for vacation? With the housing industry on the mend, make your stay permanent!  Charleston is one of the top South Carolina cities for growth in the housing and commercial markets. It is now even easier to own your perfect waterfront home with an abundance of employment opportunities, home sites and new commercial real estate.

According to a recent report by the Charleston Trident Association of Realtors Multiple Listing Service, Carolina One Real Estate’s Commercial Division is leading the commercial market. The company closed 41 units since 2088, more than double the number of its closest competitor. With a 25.1 percent share, the Carolina One Commercial is the leader in the market in that category of RMLS (residential firms that also sell commercial property).

Oliver Mathewes, Broker in Charge of the commercial division, said “Carolina One has led the residential market in Charleston, Berkeley, and Dorchester counties since 1992. Over the years we have gradually added commercial services. Since May 1, 2008 when we moved from the Prudential network to becoming an independent company, we now have the flexibility to strengthen our commercial efforts and also operate as Carolina One Commercial Real Estate.”

For more information on who’s hot in the Carolina real estate market, be sure to check out our site.

Green is the New…Pain Killer?!

PPG-Porter-GreenIn today’s society, people throw around the word, “green” more than I can count on my hand. Green can mean many things like building green homes, driving green cars, using green appliances and eating green food. Although many can argue that green is overused, what if green meant more than saving the environment? What if I told you it could actually increase your work productivity, reduce your stress and lessen the number of migraines you may get.

A professor of architecture and landscape architecture at Texas A&M University, Roger Ulrich, PhD., conducted a study that shows that following surgery, patients recover faster and require less pain medication if they are able to view tress, as opposed to a curtain or a brick wall outside their window.

This concept of the inclusion of nature within architecture is not unheard of. It is known as Biophilic Design, and it makes sense. We come from natural environments, and we should never leave these environments. Although not all environments allow for a large window or a tree, the concept of Biophilic Design is not restricted to sunlight. Consider an office in the center of a tight building with no windows, fluorescent lighting and drab walls. It’s time to get rid of those headaches and improve your mood and your health by bringing nature into the office space by adding a color such as PPG Porter Paint’s “Olive Sprig 410-4.” Don’t forget to use furniture with true wood grains showing through. Also, add a house plant or pictures of natural settings to calm your nerves. You’ll be amazed how little natural fixtures can make you feel more comfortable.

Visit the PPG Porter Paints website for more design and home ideas. Also, visit our website for all the trends and latest Carolina real estate news.

Raleigh’s Recent Population Growth and Job Opportunities Rise

raleigh-aerialAlthough job opportunities are at an all time low, finding a job might be easier than you think. Relocating for new job opportunities is never easy, but now it may be worth it. Pack your suitcases and move to Raleigh for a new life, address and job.

With the city’s recent population growth, Raleigh is now fourth on Kiplinger’s list of eight cities with surprising job growth. Based on the U.S. Department’s labor projections, cities like Raleigh will outpace the nation’s seven percent job growth average between now and 2017.

Kiplinger’s analysis considers demographic trends and industry growth. They analyzed metro areas contain a population of at least one million people, and a track record of above-average population and job growth from the 2008 to 2009 recession.

The beautiful city of Raleigh is surprisingly beating nationwide economic instability. With approximately 75,000 new jobs, Raleigh has only a 7.4 percent unemployment rate. Major employers like Duke University, the University of North Carolina, IBM, Cisco, GlaxoSmithKline, Nortel, Verizon and Lenovo transforms Raleigh into a magnet for high-tech and biotech jobs. Raleigh is also home to many government jobs as well as thousands of private-sector jobs including the regional hub for the U.S. Environmental Protection Agency.

Other cities with rapid job growth include Nashville, San Antonio, Orlando, Portland, Oklahoma City, Phoenix and Atlanta.

For a complete list of eight cities with surprising job growth, visit Kiplinger. For more information on Carolina real estate, visit the website.

Special Deals for the Ready to Buy in HUD Homes

HUD Homes can be great for ready homebuyers or those eager for investing

HUD Homes can be great for ready homebuyers or those eager for investing

Those looking for the inside scoop on some lesser known real estate deals should consider HUD homes, where those that are ready to buy can scoop up great deals. HUD homes are often popular for those interested in

investing, but they can also be a great path for cash-strapped but savvy homebuyers. The Equifax Finance Blog explores how these homes are different in a recent article, “

How To Buy A HUD Home.”

A HUD home is a special kind of

foreclosure which has been repossessed from Federal Housing Agency loans. In an effort to get these homes back with people living in them, HUD homes are often competitively priced with special incentives for owner-occupiers. These special incentives include a special 30 day window of opportunity for owner occupiers to put in offers.

The offer period and many other facets of HUD homes are different from traditional homes, so it is more important than ever to have an experienced HUD real estate agent when looking for a deal with these homes. The agent can help your tell good from bad in these homes, help you strategize through the online offer process, give you sound advice throughout the entire process and more.

For information about HUD homes as well as

real estate predictions and news, explore the frequently updated Equifax Finance Blog.