Dec 25, 2009
Women Drive Real Estate Purchases
Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.
The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.
Women’s earnings have accelerated over the last few years and they have emerged as the Chief Purchasing Officers in their households. According to IRS data, women constitute 39 % of the top wealth holders in the country. This means about 2.5 million women possess a wealth of $4.2 trillion put together. Notably, the IRS estimates that by 2050, 42 % of these women will be single or widowed. The IRS further estimates that more wealth is bound to be accumulated among women.
Another growing trend that emerged in a December 2006 study by the National Association of Realtors (NAR) was that about 22 % of homes purchased between July 2005 and June 2006 were by single women who were in the 25 to 34 age range. Women accounted for a record number of 1.76 million home purchases (1 in every 5 homes), a significant increase from 14 % a decade ago. Women’s growing success in their careers, higher education, financial independence and a desire to build an early nest on their own, are some of the reasons that have spearheaded this home buying trend.
Among the vast demographic spectrum in the real estate industry, women have become a force to reckon with. Real estate agents are increasingly taking note of their female clients and the power they wield in home buying decisions. By the influence that they bring into play in home buying decisions, women form a significant and growing market that simply cannot be ignored.
If you are considering buying a home, condo, or any other real estate, be sure to seek out the services of a local real estate agent to guide you through this complex process.
Watch the video related to buying real estate
A few mistakes home buyers make when buying a home include not hiring a real estate agent, getting emotionally attached to properties and not looking at enough properties to get an idea for the market. Avoid these common home-buying mistakes withinformation from a Massachusetts Realtor in this free video on real estate. Expert: Beau Sasser Contact: www.northamptonrealtor.com Bio: Beau Sasser has been at Goggins Real Estate in Northampton, Mass. for many years, previously working for Sasser …
Help answer the question about buying real estate
What type of company should me and a partner start for buying real estate in IL?
2 people want to start buying up some buildings but need to know what to incoperate as far as best protection and taxes. ie: llc, llp, or inc.
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San Diego Condos,
Sabre Springs Real Estate and
Scripps Rancho Condos
Hi
I am a real estate agent in Los Angeles Ca.
If you can help me where to find those banks notes .
Where do I need to start?
I thank you/
YES ,
I make about 60K a yr in rent on an avrage of 6 homes
Its not all proffet. I try to make at least 200.00 a month more than the MTG , INS, & Taxes The longer U own it the the smaler the MTG Payment ,The ins & tax goes up And tennants Move out etc. Long Turm is ok Property Values aventuly go UP and then U can Cash in eather sell it Keep it for income / retierment
Good Luck
Well first and foremost you need to come up with the money. Here are some ways. . . . This is the biggest challenge and where most people give up on the whole idea. . . .
1. Get a mortgage http://www.jeremydrobeck.com
2. Ask friends & family to lend you the money
3. save up the $$$
4. withdraw from a 401k
5. move the money to a self directed IRA and then use the the IRA to buy property
6. personal loan
7. Get a peer to peer loan online.
Hi Paul I was wondering can you get me a loan specialist on the FHA 203k rehab loan and the repo loan for ohio and detroit? and get me a list of properties the qualify in both cities
You dont need to join a website to get listings. However, what we have done at the office is purchase a marketing kit from http://www.getthoselistings.com it worked well because we were able to target specifically the listings we wanted…and my boss was thrilled because our completive advantage increased drastically! But check it out, and if you have any questions I'd be glad to help (or I'm sure you can contact the site owner).
I don't know what you mean by savings. The mortgage interest and property taxes are deducted on schedule A as you already know. That helps to reduce the amount of tax you owe at the end of the year. (if you would have owed any). I guess what you are asking is how much each paycheck will you save in federal income tax??
To figure that out you have to know how much interest per year your mortgage will be and how much property tax your house will be charged.
After you know those answers you can divide the total by the number of paychecks you receive a year and then have your employer reduce your federal witholding by that amount.
I am an agent, I closed on a property yesterday for 434K and the house appraised 2 years ago for 800K…it really depends on the bank, some banks don’t even accept FHA lons, It also depends on the condition of the house..in most cases form my experience, your offer will not be accepted without signing a bank adddendum, you have to read that document carefuly and consult an attorney..
The first goal is to live within a budget. You'll need to do this to properly handle the house payment and still put some aside for retirement.
The next goal is to aggressively save for a down payment.
While you're saving for the down payment, read and research the home buying process.
Better question is what area in Manhattan can you afford. Before meeting with the broker you should let him/her know what your price range is. Questions to the realtor should be:
How much down payment
Monthly maintenance
How difficult to be accepted by Condo Association
Amount of money in reserve for major repairs and renovations of common areas.
How often have owners been charged with special assessments.
Do some research of average condo prices per sq. footage,
Good luck
My dealings with relo companies have been mixed. It used to be more common for companies to offer relocation packages to employees of a *certain position*. The benefits to the employees can vary widely.
Sounds like you are dealing with a buy-out. That's a pretty sweet deal for the transferring employee. Typically, an appraisal is done and the employee and the company reach an agreement of a buy-out price. At that point, there is little incentive for the transferring employee to negotiate the price down from what the company has agreed to pay.
At this point, you will typically do all negotiations with the owner, not the relo company. Some times, after the property is under contract between the owner and a buyer, but, just before closing (a couple of days), the relo company will buy out the owner and then closing documents and will show the relocation company as the seller of record. Just depends on the deal the owner (transferring employee) has.
You may just have to wait and see if you can negotiate with the relo company AFTER the buy-out. It may take a while until the relo company recognizes that the asking price is too high. Then you may be able to negotiate a lower price.
Good luck.
where the turf..meets the surf….. your fingers not pulsating that much,
if you have time to write the 1st chapter of a very boring book.
No.
But anyone who tells you at your level of experience and knowledge to go in debt to invest and buy real estate by using your home as security is doing you a disservice, especially as roller coaster natured as California real estate is. There will even be someone who will counter my comments herein to say how wrong I am and tout their success. I recall the Bible verse that says "Many are called but few are choosen." So as you are filing the bankruptcy forms it is too late, and you'll remember to not do it again. I have helped people like you write the letters of explaination for their financial failures enough to know that for the average person it is not a wise decision to gamble with the family home and its security.
You need to save some funds, for in the next yr or so there will be forclosures in CA that you will be able to get favorable bank financing on at good prices. I'd suggest that a better investment is a commercial income producing property that has long term leases and low turnover with "credit" tenants if possible.
A lot of these guru people that tell you to go in debt also have disclaimers in small fonts that also say "…these results are not typical." There will be a few that do succeed and those few will be the featured guests- who are also compensated for their endorsement. Several of those same guru pitching their material have also been bankrupt but they do not tell you that, because you would then not buy their program because it did not work for them not does not work for most people. That is why they now "tell" you how to get rich, as they get paid- by you up front for their "knowledge" or technique. Many simply tell you what you want to hear, an easy way to get wealthy when in fact there is no such way or everybody would be doing it.
True, real estate is a good means to grow wealth but there are better ways to invest in real estate with less risk than leveraging your home thereby putting it, possibly your marriage and family at risk.