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Monthly Archives: March 2017

Get Financing for Land

Research is really the number one key when it comes to finding great rates for land and lot mortgages. One of the best rates in the country rate now is lending to 38 of the states with 80% loan to value ratio and 3% interest rate; this is the type of find you have to jump on when they come along. These figures are certainly not average. Today the average loan to value ratio is closer to 60% with interest rates in the range of 6-7%. This is a significant jump from the numbers posted above and in some cases these higher percentages can make or break your dreams of buying your own lot and building your own home.

In order to be approved for one of these hard to get mortgages you will have to have several requirements met. First, you must have a satisfactory income to debt ratio of no more than 45%, the ability to come up with the down payment, 20% if you can find a good lender with good rates but this can be up to 40% in some cases and a credit score in the 700s to qualify without any problems. Also as a first time buyer it is important to note the other costs associated with your new purchase:

• Closing costs of about 1-2% of the entire loan amount
• Appraisal fees ($400-$600)
• Title fees

Many first time buyers are not aware of these additional costs and it can really harm your bank account when you do not budget accordingly.

Real estate professionals believe there is no better time than the present to be purchasing vacant land around the country. This aspect of the real estate market was hurt just as badly as residential homes and therefore there are many people around the country trying to unload their land lots to prospective buyers like yourself. In the past it was a profitable market to take vacant land and flip it but after the real estate market crash this business has become obsolete. Now is the time for home builders to find the lots of their dreams and begin building.

Buy and Sell Land for Investments

There are many different ways to find land for sale. This is where that mecca of research known as the internet comes in handy. Typing in ‘Land for Sale’ in your search window will lead to a variety of people trying to unload land. However, like all forms of investing if you do not know what you are doing, you will not succeed. It is best to find cheap land for sale or land with payments for your initial investment.

The truth is that an investment is not worth the effort if it means compromising your finances in order to acquire it. The best method is to buy cheap land for sale preferably not far from a metropolitan area. Everyone knows that cities expand. The key is to hold on to that parcel that you purchased until people start migrating towards your land. Then developers will ‘discover’ you and will make you a substantial offer for your land.

Before you realize it that cheap land for sale made you a lot of money. However, the word cheap is subjective. While certain pieces of land may be listed as cheap. They may be too much to purchase right out. In this case it is better to look for land with payments. Payment plans are structured with your budget in mind, so even if it takes 20 years to pay off that land, you will not go broke in the process. If a developer does want to buy your land, that payment can be used to pay off the remaining balance and leave you with some cushion. The next step should be obvious: sell your land.

In order to successfully sell your land you must advertise your land. There are different ways to do this. Advertising online is perhaps the best way since you will reach the most people. It is best look for websites that specialize in land sales. These sites will give you the tools to sell your land and reap the rewards from that sale. Another way to advertise your land is by using social networking sites. There will not be a service fee and people might be more willing to buy from a friend (even if it’s just an online friend).

Used to Value Land

Although total property estimation may be brought forth from direct comparison or income approaches without separating land and building values, it may be needed to value the land separately to detach the land figure from the overall real estate worth. In the cost approach, it is an absolute necessity to estimate land and improvements separately.

Creating an opinion of land value can be presented as a separate hurdle in the valuation process. You may use several techniques to attain an expression of land value including the following:
– Direct Comparison
– Extraction
– Land Residual
– Ground Rent Capitalization
– Subdivision Development
– Allocation

Usually the most accurate and effective of the techniques to derive a land value is the direct comparison approach. However, when there are a limited number of sales available or when the estimate produced needs addition support, other techniques could be used to back up the comparison approach such as the ones previously mentioned. With the allocation technique, either sale transactions of improved properties may be analyzed or the total prices paid would be allocated between land and the improvements. Comparable sites under development may also be analyzed and the cost of the finished properties should be allocated between land and improvements or buildings. Under the extraction technique, land value is determined by subtracting the estimated value of the depreciated improvements from the known sale price of the property.

The other methods of land valuation that were mentioned all use Income Capitalization. Using these techniques are subject to more limitations and are used less often in the estimation of land. The subdivision development technique is a special method useful in specific land use cases. The land residual technique is used most often the highest and best use analysis to test the feasibility of different uses that to value land as part of the traditional approaches to value. The ground rent capitalization can be used when land rents and land capitalization rates are available in the focused market or area. A comparison of that information will then be cross-referenced to the subject land in need of an estimate.

All about Island Real Estate

Living by the beach offers a lifestyle that is unrivalled by any other. The water being so close allows the ability to partake in activities that deviate from the monotony of everyday life with ease. Fishing, swimming, kayaking, diving, boating or just relaxing by the beach, seaside living offers the extraordinary every day with such great ease-of-access to what most would consider luxuries. Santo Vanuatu real estate provides a completely different way of life, while seaside living in Australia can keep you close to the ease and comforts of the big city.

Some of the benefits of seaside living are quite obvious; picturesque scenery, being close to the ocean and enjoying the sun is everything people imagine when they imagine living by the sea. Don’t forget about the health benefits gained from looking at Santo Vanuatu real estate. From the Vitamin D the sun provides, to being able to take a stroll along the beachfront every morning and night, seaside living leads to a healthier lifestyle (as well as a more fulfilling one).

Seaside blocks of land are also seen as sound investments. Anything with an ocean view is unlikely to depreciate in value due to the high demand for this more luxurious lifestyle. The opportunities for investment in Santo Vanuatu real estate extend to renting out long term or temporary accommodation, and if you’re willing to put the time and money in to a property like this, you’re likely to see a very pleasing return.

Whether you’re looking to invest in a property or settle down with the kids, there’s no place like the sea, so why not live next to it? Healthier lifestyles, financial security and a better way of living are all available with seaside property. Whether it’s a small island in the pacific or the coast or Australia, the benefits are definitely worth your consideration. There are blocks of land for sale all around the world that could change your life – you just need to find them and take the plunge.