The Aladin Group has come out with a new youtube blog series called “5 Things Your Realtor CAN’T Tell You!” Subscribe to their channel HERE! Check out Part 1 of 5 below! Enjoy!
This series will be very helpful for prospective buyers! There are some great questions that need to be asked but Realtors can’t legally or morally give the answers to.
Aladin Abdin discusses the effects of Realty Executives Bankruptcy on our clients. If you have any questions, comment below, comment on the youtube video , comment on Facebook or emailing Aladin@TheAladinGroup.com! Enjoy!
Check out some other YouTube Videos of Properties for sale!
This is a great home located in Phoenix! Check it out! View it in High Quality!
You’ve been hearing it for years now. Talk about the economy’s inadequacy. After the housing market went, there was little hope for many of the other markets. The biggest concern is that when the economy is down, so are alot of people’s bank account balances. So what does this mean for you?
People have become increasingly desperate to keep their bank account balances up and be able to afford their lifestyles, whether that lifestyle includes drug use or just feeding their families and keeping them clothed. Scams have been on the rise and the people behind them are very creative.
Tammy was looking for a house to rent and was looking on craigslist and other classified ads. She found a beautiful looking home with her exact search criteria, in the perfect location AND it was at such a great price! She called the number and got in contact with Greg, who agreed to meet her at the property and trade the rent for the keys to the house. Sure enough, Tammy arrived at the house and Greg was there. He showed her inside the vacant house and Tammy loved the home. Greg said “You seem like such a nice woman — let’s not worry about writing up a lease agreement or credit report. I trust you.” Since Tammy’s credit was extremely low, she accepted immediately and handed Greg the $2,000 for rent and security deposit and he handed her the keys. Everything went so smoothly! But then something very odd happened. Greg took off with the money. Tammy thought this was very strange and called the number on the real estate sign posted in the front yard. “This home isn’t for rent,” the lady on the line explained, “it’s under contract to be sold as we speak!”
Greg, whos name probably wasn’t even Greg, knew this home was bank owned. He also knew the construction lock box code and accessed the key with no problem. So where did Tammy go wrong?
Some people swear against these classified ads and stay far away, but there are other, less extreme precautions to pick out if the rental property is a scam or not.
1. Don’t give cash or wire money - Criminals don’t want you to be able to trace it back to them, so cold hard cash, being the most liquid of assets is usually what they ask for. The same goes for money orders. Don’t stop there! You also want to avoid giving checks to someone who may be hustling bank account and routing numbers. Counterfeiters can print their own checks using your bank numbers and signature, then spend from your account. That’s why a combination of safeguards is necessary. Checks are safer than cash, but read on to ensure you’re giving those checks to legitimate landlords.
2. Research what the price really should be - If the rate is too good to be true, it probably is and if you aren’t working with a realtor to find your rental home, it isn’t as hard to check as you may think! Check out websites like rentBits, which will help guide you on pricing.
3. Ask yourself, ‘Why is this owner so eager to have me?’ – Legitimate property owners and managers take the time to ask questions and screen potential tenants. They can’t risk renting to someone who might cause damage or fall behind on payments. Expect that they may take a small fee ($15-$35) with your application to pay for a background screening, or a deposit in the form of a cashier’s check to hold the apartment if they need to take it off the market for a day. Most will not even accept cash, saying they don’t want to risk holding cash. A cashier’s check at least requires identification to cash and can be traced.
A scam artist, on the other hand will often be eager to close the deal with cash on the spot, and may very well have a good story to tell about why he is in such a hurry: He is moving for a job; others have expressed an interest. Don’t fall for it.
4. Pay attention to any odd behavior
In Florida recently, a scam artist who appeared legitimate in every other way: she had business cards, contracts, key codes, a professional demeanor displayed one piece of odd behavior that alone should have tipped off her victims, police said: She parked her car around the corner and walked to the house, explaining that she’d been showing a nearby house.
Legitimate listing agents “don’t come walking up with a clipboard in their hand,” said Lee, the police investigator. They pull into the driveway.
“Just be aware,” he said. “Get a tag number off a vehicle. If a person walks up, like this one, from two blocks away, that should be a clue.”
“Do they have a set of keys? Are they entering through the back door? Just how they’re acting? Does the story make sense?” said Jesse Holland, a regional vice president for the Institute of Real Estate Management.
Just because a few things check out doesn’t make them legitimate. Like in our story, Tammy received the keys. Everything seemed more than fine. Observe their behavior, and trust your gut if something seems odd.
5. Collect documents – Ask for copies of everything: checks, money orders, the application, receipts, the lease.
“You want to create an audit trail and a paper trail to protect yourself,” said Holland, who also serves as president of Sunrise Management and Consulting, in upstate New York. “That proves that you are entitled to rent it and have gone through a legitimate process, as opposed to, ‘You give me $700 cash.’”
Be aware that a savvy scam artist can easily create his own documents using samples from the Web. So paperwork by itself is not enough to protect you. However, should another sign tip you off, your papers could help authorities prosecute the con artist.
We hope that none of you are caught in these messy scams. For more information, check online on websites such as rentalscams.org or wikihow.com.
Written by: Danielle Zampino
Check out this ARMLS SALES REPORT from February. It’s interesting to see the trends!
Below are some FAQ’s from http://www.bahiadelagarto.com/ about thier master planned, OCEANFRONT community in beautiful Costa Rica.
1. What are some notable features about the Bahia De Lagarto community?
Some of the best view property in Costa Rica, short walking distance to the beach, gated community with guard staff, clubhouse and community pool, hiking and horse trail, natural harbor in the bay for boat launching, close proximity to the Liberia international airport. etc…
2. Why buy property in the Guanacaste area?
Guanacaste is the fastest growing tourist and investment property region in Costa Rica. It has the most rapidly improving infrastructure including new roads and increased flight traffic to the new Liberia International Airport. Guanacaste is by far the driest province in Costa Rica having average annual rainfall totals around 65 inches, making it the best microclimate in the country. These features and others have sparked a real estate boom that will be sustainable in the region for many years to come.
3. Can I as a foreigner buy and own property in Costa Rica?
Ownership of real estate in Costa Rica by foreigners is fully guaranteed by the constitution. In addition, foreigners enjoy the same ownership rights as Cost Rican citizens, regardless of whether the property is placed in the name of a corporation or in the name of an individual. There are no restrictions on foreign ownership like in Mexico.
4. How secure is a real estate purchase in Costa Rica?
It’s just as safe to buy titled land in Costa Rica as it would be in the US, Canada, or Europe. Public registration of ownership, liens and encumbrances are no different.
5. Can I have the title of property in my own name?
You can legally have the property in your own name, however, we recommend using an attorney to set up a corporation as the owner of the property. Our attorney can explain more thoroughly but simply there are asset protection and title transfer advantages to having the corporation.
6. How much are the property taxes?
Property taxes in Costa Rica are extremely low when compared to the United States. This is one of the attractions for investors.
7. What about capital gains tax?
There is no capital gains tax in Costa Rica as long as your property is not used in a for profit business. You should consult a Costa Rican attorney and your tax professional back home before doing any bank transfers to make certain your not opening yourself to any unnecessary tax exposure.
8. Can I get financing in Costa Rica?
Financing through a bank is kind of complicated because of the bureaucracy. You can get faster approval and better rates by getting a second mortgage on a U.S. property and using the cash for your Costa Rica real estate purchase.
9. How is title transferred?
When buying property in Costa Rica, property is transferred from seller to buyer by executing a transfer deed (escritura) before a public notary. Attorney’s serve the role of public notary in Costa Rica. Once a transfer deed is accepted for registration, the Public Registry will return the original document within 45-60 days.
10. Do I need to use a Real Estate Broker?
No. Attorney’s are necessary for the title transfer in Costa Rica and they also perform all of the functions a broker would. Real Estate Brokers can be helpful in finding properties but are not necessary for the transaction.
11. What is the weather like year round?
Most days the temperature is 75-90 degrees. There are basically two seasons, the dry season and rainy season. The dry season is from December to April and has less afternoon showers than the rainy season.
12. Is there decent healthcare?
Yes, there is good healthcare available within driving distance of Bahia De Lagarto. For major medical problems the best hospitals are in and around San Jose.
13. What activities are in the area?
Surfing, snorkeling, horseback riding, hiking, golf, sport fishing, white water rafting, dining, natural hot springs and spas, canoeing, rainforest canopy tours plus many more.
14. How much will it cost to build my house?
Approximately $95 per sq. ft for a custom home built to U.S. standards, incorporating exotic woods, marble and other top quality supplies for construction.
15. Are there responsible building codes in Costa Rica?
Costa Rica actually has fairly stringent building codes, contrary to popular belief. The problem is that these codes are rarely enforced, especially in rural areas. That is the main reason we pre-screened a reputable builder to offer their construction services to our residents.
16. Is there internet access?
Yes, High Speed DSL and satellite t.v. are available
17. What infrastructure is provided when I purchase property in Bahia De Lagarto?
Roads, water, and power will be brought to the front of each lot ready for you to begin construction on your home.
18. Are there association by-laws?
Yes, currently an Owner’s Association has been established in order to maintain standards of building and conduct for all residents and their guest all for the purpose of security, tranquility, and increasing the property values.
19. If I plan on living on my property for only a portion of the year, may I rent my house and is there a management service?
Yes, Bahia De Lagarto will offer in-house property management and rental services.
20. Do I have to worry about squatters?
Absolutely not. You may have heard myths of squatters taking over a foreigner’s land and deeming it worthless. That is impossible in today’s Costa Rica in a development like Bahia De Lagarto.
21. Is Title Insurance Available?
Yes, title insurance is available through “Stewart Title of Costa Rica” at owner’s expense, however it is not necessary when using a reputable attorney on your purchase transaction.
22. How long am I allowed to stay in Costa Rica?
You are on a three month tourist visa. You will have to leave for 72 hours every three months unless you get resident status.
23. Can I become a resident?
There are three main ways to get residency status Pensionado, Rentista or Inversionista. Retired, investor etc. Our attorney can help with the paperwork to get this done
24. Can I use my property for a business?
We do have designated lots zoned for commercial use, restaurant/bar, market, activities, bed and breakfast. Please inquire about availability.
Click Here for community lot plans
August 16, 2010
For immediate release
The steep decline in property values during Arizona’s current housing recession will have one benefit for Maricopa County homeowners: The county-controlled portion of their property tax bills will be lower for most homeowners this year.
The Maricopa County Board of Supervisors today set property tax levies that will result in tax bill reductions for most homeowners, at least for the county-controlled portion of the total tax. The Board reduced property taxes on existing properties by $23.8 million, or 3.9 percent. The typical residence in Maricopa County, with a median market value of $148,800, down from $192,000 last year, will see a reduction of about $25.
“I think the county has shown itself as a good steward of taxpayers’ money,” said Board Chairman Don Stapley. “It has been a rough year but we balanced the budget. Other jurisdictions in the state have not done the job as well as Maricopa County.”
Board member Max Wilson agreed. “I never lose sight that this is not our money. It’s the taxpayers’. Our action today will help in some way to reduce the burden on homeowners in Maricopa County,” he said.
County-controlled property taxes, which make up about 15 percent of total property taxes in Maricopa County, include the County primary levy, the Flood Control and Library District secondary tax levies. Maricopa County uses “pay-as-you-go” financing for capital projects, and unlike most other jurisdictions, does not use a secondary property tax for bonds. Property taxes collected by the state, cities, school districts, the community college district and other districts comprise the other 85 percent of property taxes.
“It is a delicate balance between funding important government services at adequate levels and keeping taxes low,” commented Supervisor Fulton Brock, of Chandler. “But that is the mission we ask of our staff and the departments. We’re staying the course. We are headed in the right direction.”
The Board’s policy of low, sustainable property taxes with no general obligation debt will save county taxpayers $128.5 million this year alone. Taxpayers have avoided an estimated $494 million in taxes since fiscal year 2002, according to the county Office of Management and Budget.
“Years ago, when we set off on a pay-as-you go policy, many we believe we couldn’t get it done. But we did it,” said Supervisor Andy Kunasek, of Phoenix. “Other counties across the country, even well managed ones, have struggled without facing any of the difficulties that we have faced.”
Today’s action followed the adoption in June of a “steady-as-you-go” $2.26 billion county budget for fiscal year 2011, which began July 1. The conservative budget anticipates little revenue growth in the next fiscal year and offers no cost of living adjustments or merit pay increases for county employees. Phoenix Supervisor Mary Rose Wilcox said that even with the pay-as-you-go plan on capital construction, “The county has been able to keep up with infrastructure needs, with the construction of the criminal court tower, the Flood Control District projects and county roads. “
Additional Contacts:
Deputy Budget Director Chris Bradley, 602-506-4960
Lesley Kratz, Senior Advisor to County Assessor Keith Russell: 602-506-7154
http://www.maricopa.gov/pr_detail.aspx?releaseID=1524
ALPHARETTA, GA (August 18, 2010 – 10:30 p.m. ET) – Wright County Egg of Galt, Iowa, is expanding its voluntary recall (original recall date: August 13, 2010) of specific Julian dates of shell eggs produced by their farms because they have the potential to be contaminated with Salmonella.
Eggs affected by the expanded recall announcement are packaged under the following brand names: Albertsons, Farm Fresh, James Farms, Glenview, Mountain Dairy, Ralph’s, Boomsma, Lund, Kemps and Pacific Coast. Eggs are packed in varying sizes of cartons (6-egg cartons, dozen egg cartons, 18-egg cartons, and loose eggs for institutional use and repackaging) with Julian dates ranging from 136 to 229 and plant numbers 1026, 1942 and 1946. Dates and codes can be found stamped on the end of the egg carton or printed on the case label. The plant number begins with the letter P and then the number. In most cases the Julian date follows the plant number, for example: P-1720 223. There have been confirmed Salmonella enteritidisillnesses relating to the shell eggs and traceback investigations are ongoing. Wright County Egg is fully cooperating with FDA’s investigation by undertaking this voluntary recall.
All brands, plant numbers and Julian dates are listed in the Brands Affected document found here.
While this recall represents less than 1 percent of all eggs produced in the US, as always recommended by the Egg Safety Center and FDA, raw eggs should be handled and cooked properly with the egg yolks and whites cooked firm. Other egg brands that are not specifically in the recall list are not affected and should be safe to eat. Liquid, frozen, or dried egg products, because they are pasteurized, also are not affected by the recall and should be safe.
Consumers are reminded that properly storing, handling and cooking eggs should help prevent food-borne illness. For more information on proper handling and preparation of eggs and answers to other frequently asked questions, visit www.eggsafety.org.
Eggs previously announced as affectedinclude the following brand names: Lucerne, Albertson, Mountain Dairy, Ralph’s, Boomsma’s, Sunshine, Hillandale, Trafficanda, Farm Fresh, Shoreland, Lund, Dutch Farms and Kemps. Eggs are packed in varying sizes of cartons (6-egg cartons, dozen egg cartons, 18-egg cartons, and loose eggs for institutional use and repackaging) with Julian dates ranging from 136 to 225 and plant numbers 1026, 1413 and 1946. Additional brands specific to Northern and Central California and Reno, Nevada, include Bayview, Mountain Dairy, Nulaid, and Sun Valley. Affected plant numbers are 1091 (Julian date 167-174), 1686 (Julian date 142-149), and 1951 (Julian date 193-210).
The chance of an egg containing Salmonella Enteritidis is rare in the United States. Several years ago, it was estimated that 1 in 20,000 eggs might have been contaminated, which meant most consumers probably wouldn’t come in contact with such an egg but 1 time in 84 years. Since that time most U.S. egg farmers have been employing tougher food safety measures to help protect against food-borne illness. Chief among these methods are modern, sanitary housing systems; stringent rodent control and bio-security controls; inoculation against Salmonella Enteritidis; cleaning and sanitization of poultry houses and farms; and testing.
About the Egg Safety Center
The Egg Safety Center provides scientifically accurate information on food safety issues related to eggs. We work with egg producers to provide them with the most up to date information available and are dedicated to educating consumers on proper food handling to reduce the incidence of food-borne illness. For more information on egg safety visit www.eggsafety.org.
The percentage of borrowers underwater on their mortgage declined during the second quarter, but that welcome change of pace could come to an abrupt end as home values are again beginning to fall in markets across the country.
The real estate data provider Zillow reported Monday that negative equity — which refers to the percentage of single-family homeowners with mortgages who owe more on the loan than their home is worth — dropped to 21.5 percent in Q2.
That’s down from Zillow’s negative equity reading of 23.3 percent in the first quarter of this year, and 23 percent during the second quarter of 2009.
The Zillow Home Value Index shows that home values, too, continued to drop in the second quarter, but the Seattle-based company says the rate of decline decelerated from the first quarter.
Zillow reports that home values in Q2 fell 3.2 percent year-over-year and 0.6 percent from the first quarter. It marked the second consecutive quarter of slowing declines. Based on Zillow’s market data, the national median home value last quarter was $182,500.
Conditions varied among individual markets across the country. In California, where both federal and state tax credits were available to some homebuyers, more than a quarter — 27.8 percent — of markets tracked by Zillow saw increases in home values in the past year.
Home values in five California markets have increased for the past five quarters, according to Zillow’s study, and four of those have increased by more than 5 percent since the second quarter of 2009. The Zillow Home Value Index was
up 7.3 percent year-over-year in the San Diego metropolitan statistical area (MSA); up 5.9 percent in the San Francisco MSA; up 5.6 percent in the San Jose metro area; and up 5.5 percent in the Los Angeles MSA.
Dr. Stan Humphries, Zillow’s chief economist, points to the double tax credits in California for stimulating housing demand there and raising property values. But he says the rapid rates of appreciation are unsustainable. He warns that once all incentives are removed the gains will surely slow, although Humphries says it is unlikely home values in California will re-test the low points reached in 2009.
Meanwhile, home values in Florida and Arizona continued to show dramatic declines. In the Miami-Fort Lauderdale MSA, they fell 15.2 percent year-over-year, while home values in the Phoenix metro were down 11.8 percent from a year ago.
Humphries says markets like Miami and Phoenix are not yet showing signs of reaching a bottom in property values, with high inventory levels still proving to be a challenge.
He called the picture of individual local markets “a mixed bag,” but said nationally, home values are moving in the right direction as rates of decline continue to decelerate.
However, Humphries says there is a large unknown on the horizon, since second-quarter numbers are still heavily influenced by the federal homebuyer tax credits. Home sales are declining significantly in the post-tax credits environment, but the impact of falling home sales on already-declining home values is yet to be seen, according to Humphries.
“Recent trends in home values suggest the nation could reach a bottom in the latter half of 2010, but we continue to be cautious about the impact of declining home sales,” Humphries said.
Zillow also reported that foreclosures again reached a new peak in June, with more than one out of every 1,000 (0.11 percent) U.S. homes foreclosed on during the month.
According to Zillow’s study, foreclosure resales fell in June, making up 16.9 percent of all home sales during the month, down from a 2010 high of 19.8 percent in February. Foreclosure resales continued to be high in most markets hit hardest by value declines, the company said.
Additionally, Zillow found that more than one-fourth — 26 percent — of the homes sold in June went for less than what the seller originally paid.
DSnews.com
