7 Steps to Buying a Condo

7 Steps to Buying a Condo
By: B.R. Cornett

Thinking about buying a condo? Great! It can certainly be an exciting process, and even more so when you know what you're doing.

But when you don't know what you're doing, the condo-buying experience can be downright scary and costly. No need to fear though, because we're going to cover the top seven things you should do when buying a condo.

1. Get pre-qualified for a mortgage.

When you're pre-qualified by a mortgage lender, you'll have more leverage with sellers. Pre-qualification means a lender has informally reviewed your financial situation and found you capable of taking on a loan in a specified amount. It doesn't guarantee that you'll get the loan, but it shows sellers you're serious about buying.

2. Choose the right location.

"Location, location, location" is one of the most commonly used expressions in the real estate industry – but with very good reason. People often choose condos over traditional homes with a certain lifestyle in mind. So be sure your condo's location can accommodate that lifestyle. Experiment. Test out the drive from the potential condo to your work, school, shopping, etc.

3. Conduct thorough research.

Condo life usually comes with a number of bylaws, association rules and other declarations. Be sure to get this documentation up front to avoid any surprises later on. You're making a big financial investment, so you'll need all the facts about what's permitted and what's prohibited. While you're at it, get to know the developer too. Find out their history and expertise. Talk to a few of the residents (when applicable) to get their input.

4. Ask about building services.

Condos often have "built-in" services that residential homes do not. This can be part of their overall appeal. But don't assume your prospective condo comes with a certain service – find out for sure. Is there a door man? Is there a maintenance man or building engineer? If so, what hours will they be available?

5. Learn about pre-construction pricing.

Developers will sometimes offer significant price breaks in the early stages of development. They do this to attract buyers during the pre-construction phase. As construction begins on the new development, demand usually goes up. And we all know what happens to prices when demand rises! So if you take advantage of pre-construction pricing, you could save a lot of money in the long haul.

6. Remain flexible.

If you're buying during the pre-construction phase, give yourself plenty of flexibility with the closing date. Construction delays are not uncommon, so it's important to consider this when locking in your interest rate and setting a closing date.

7. Take advantage of tax deductions.

Speak with your accountant to find out what portion of your assessment is tax-deductible. Other expenses that add value to your condo may also be tax-deductible. Get an understanding of these tax implications before making your purchase.

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BR Cornett writes on behalf of MetroSceneTV. If you're condo shopping in Chicago or the surrounding area, visit MetroSceneTV.com for detailed information about Chicago condos and other luxury properties. Online at: www.metroscenetv.com

Business Line of Credit Expert Speaks for Michigan Real Estate Club

TransWorldNews | Press Release |Business Line of Credit Expert Speaks for Michigan Real Estate Club:

"National Real Estate Network LLC brings for first time to Michigan a Leading Business Line of Credit Expert, Thomas Kish. Mr. Kish will show how to get a new $250,000 line of credit to invest in any real estate or other business opportunity. Mr. Kish will be announcing The Ultimate real estate investor's guide. Thomas Kish is the president of Cash Flow Experts Biz and has created a money system that shows how to create wealth in real estate without using cash.

Tom is recognized as one of the nation's leading authorities on how to get and use business lines of credit instead of cash to make money in real estate.
His trademarked investing system teaches people the insider secrets of using new business lines of credit.

Tom is a national trainer and speaker and has shared the stage with best selling authors Robert Allen, Mark Victor Hansen, and Robert Kiyosaki. He shows people his simple 4-step recipe to getting huge unsecured lines of credit and cash advances that don't report activity on a personal credit report. "

Value can still be found in real estate

HeraldNet: Value can still be found in real estate:

"While national housing economists concur that the next wave of homebuyers will be focused more on shelter than an investment and will steer away from exotic mortgages in favor of more conventional financing, they believe there's still plenty of value in housing.

'We need to separate the investors from the speculators,' said John Tuccillo, former chief economist for the National Association of Realtors and now an industry consultant. 'The flippers are getting out, but the real investors with deep pockets still see tremendous value in some of the price drops around the country.'"

6 Tips Make Renting Easy

6 Tips Make Renting Easy
By Aaron Brooks

Looking for a place to rent can be hard or easy. It all depends on how prepared you are. Renting homes has pitfalls what you need to do is ensure you don’t fall into one. These days knowledge is power so be smart and find out all you can about renting a home, what to be wary about, how to protect yourself, and more.

The World Wide Web is full of information and all you need to do is surf the web for articles, tips, and advice.

Here are six essential keys to renting a home successfully:

1. Jot down what you want in a home. Narrow down details like number of rooms, area, flat, or individual house and so on.

2. Get all your documents in order: credit report, letter of intent, bank records, references, and letter from your previous landlord as well as employer. If you are a student you will need a letter from your university.

3. Take along a checklist whilst doing a walkthrough. Be sure to check for secure windows and doors, leakages, infestations, damp, storage and so on.

4. Check carefully the lease agreement and ensure that aspects like visitors, subletting, breakages, breaking a lease, and paying of utilities are very clear. Responsibilities must be clearly delineated.

5. Ask for references and check out the suitability of the location and building.

6. Find out whether schools, hospitals, and so on are close by and ensure that transportation to your place of work is available.

When renting a home keep in mind security and ensure that all electrical appliances like heater, air conditioners, refrigerators and so on are in working condition. It is always advisable to have a professional inventory before leasing and just before you leave. This prevents any disagreement with the landlord over the condition of things.

Clarify whether or not you will be permitted to change the locks on the doors and ask who will be responsible for any repairs that may be needed. Ask yourself the following questions:

• If the flat or home in a quiet or noisy area?

• Are you comfortable with the neighborhood. What kind of community is it? Check it out sometimes you may find yourself living among all retired folks or college students.

• Is transport available 24/7. And what about daily necessities?

• What about parking facilities?

• Is there a playground close by?

• What about costs of heating and cooling, is the house eco-friendly?

• What is the overall condition of the area and building you are considering?

• Is the deposit, rent, and cost of utilities within your budget?

Even if you are considering a short term lease view the flat or house like you would a property you plan to invest in.

Renting is not hard if you go about it in an organized professional way. If you have any doubts consult friends or a professional property consultant. Often the cost will be worthwhile in the long run.

Aaron Brooks is a freelance writer for http://www.1866carrental.com , the premier website for car rental, cheap car rental, online reservation, information about discount car rental companies, special offers, car rental guidance, tips, articles, How to, directories and many more. He also freelances for the premier Search site http://www.bavoo.com

Article Source: http://EzineArticles.com/?expert=Aaron_Brooks

Jacob Realty: Community Focus: Canton, Michigan

Welcome to Canton!
We are very pleased that you have chosen to visit our community, and hope your stay is a pleasant one. While you are here, you will have the opportunity to take advantage of the wide variety of restaurants, shops and entertainment venues in our community. Canton also features six parks, two golf courses, a community center and much more.

We invite you to explore Canton!
You may find a free concert in the Heritage Park amphitheater, a jazz concert in a shopping center parking lot, an art fair in Cherry Hill Village, or a comedy show at the Village Theater.

Canton is a great place to live, work, play and shop.
Canton has developed from a small farming community into Michigan’s 11th largest community. Over 70,000 residents have been added to Canton over the last 30 years, and new residential and commercial developments dot the community. Great attention is paid to architecture, building materials and landscaping. We also value our heritage by preserving and encouraging the adaptive reuse of historical structures.

So as you wander around Canton, take the time to browse
Source: Canton Township web site

The Charter Township of Canton, usually just called Canton, is a charter township of Wayne County in the U.S. state of Michigan and is an affluent suburb of Detroit. As of the 2000 census, the township had a total population of 76,366. In the 2004 estimate by the U.S. Census Bureau the population was 84,654. Canton is one of Michigan's fastest growing communities. Based on statistics reported to the Federal Bureau of Investigation, Canton was the nation's 20th safest city during 2003, 2004, 2005, and 2006[1]. The designation is based on crime statistics in six categories: murder, rape, robbery, aggravated assault, burglary, and auto theft.
Source: Wikipedia

Jacob Realty: Canton Listing Details

END UNIT IN A GREAT LOCATION AT THE BACK OF THE SUBDIVISION. NEUTRAL DECORATED AND HAS MANY NICE UPGRADES. CROWN MOLDING, 6 PANEL DOORS, ARBOR FALLS WHITE CABINETS, RECESSED LIGHTING AND CONVENIENTLY LOCATED BETWEEN ANN ARBOR & DETROIT, CLOSE TO X-WAY, METRO AIRPORT, SHOPPING AND HEALTH CARE, LOCATED IN A SMALL COMMUNITY OF ONLY 88 UNITS.



Condominium MLS#26146804
Sale Price: $209,900
Status: ACTV

Mailing Address: 43060 PROVIDENCE LN
CANTON MI 48188

Bldg No: 8 Unit No: 64
Property Township: CANTON
Directions: LILLEY TO CHERRY HILL THEN WEST TO MOREAN CREEK 1/2 MILE
Location: S CHERRY HILL W LILLEY
Subdivision: REPLAT NO 2 OF WAYNE CO CONDO SUB PLAN NO 579
School District: PLYMOUTH CANTON

Square Footage: 1500 Year Built: 2002
Lwr Lvl Sq Ft: Year Remodeled:


Room Information
Bedrooms: 3 MBR: 12x15 Upper DR: FLA:
Full Bath(s): 2 BR2: 13x12 Upper GR: KIT: 15x11 Entry LDY:
Lav(s): 1 BR3: 12x10 Upper LR: 14x15 Entry BFT:
BR4: FR: LB:
Other Rooms: 1ST FL LAU, LIVING RM

Property Information
Winter Taxes: $2,347 Assoc Fee: $160 Homestead: Y
Summer Taxes: $1,553 Assoc Fee Period: M Gas Incl: N
Spec Assmt: Assoc Phone: 586-775-5757 Water Incl: Y
Restrictions: Y

Exterior/Construction Information
Architecture: 2-ST, END UNIT
Ext Material: BRICK, VINYL
Construction: PLATTED SUB
Site Desc:
Exterior Feat: DECK, PORCH, OUTSD LGHT, GROUNDS MNT., SAT DISH, PRIV ENTRY
Garage: 2 CAR, SIDE ENTRY, DIRECT ACC, ELECT
Water Fac:
Water Name:
Water Sewer: MUN WAT, SEW-SANIT
Environmental:

Interior Information
Foundation: BASEMENT Basement: UNFINISHED, PRIVATE
Heating: FRCD AIR Fuel Type: GAS
Cooling: CENTRAL, 2+ WALL Water Heater: GAS
Interior Feat: CABLE AVL, SMP PUMP, SECURITY ALARM (OWNED
Appliances: STV, REF, DISHW, DISPSL
Fireplace: LIV RM
Bath Desc: 1ST F LAV, 2ND F BTH, MBR BTH

Listing Information:
List Office: JACOB INC
Terms Available: CONV, FHA, VA, CASH

Jacob Realty: Canton Listing Details

LOVELY 3 BEDROOM BRICK CONDO WITH A GREAT LOCATION AT THE BACK OF THE SUBDIVISION. PREMIUM SITE LOOKING AT MORGAN CREEK & THE WOODED 20 ACRE NATURE PRESERVE. ALL LOCATED IN LITTLE MORGAN CREEK OF ONLY 88 UNITS. PRICED BELOW MARKET VALUE FOR AN IMMEDIATE SALE.


Condominium MLS#26090284
Sale Price: $209,900
Status: ACTV

Mailing Address: 640 CONCORD DR
CANTON MI 48188

Bldg No: Unit No: 80
Property Township: CANTON
Directions: LILLEY TO CHERRY HILL WEST 1/2 MILE TO MORGAN CREEK
Location: S CHERRY HILL W LILLEY
Subdivision: MORGAN CREEK
School District: PLYMOUTH CANTON

Square Footage: 1600 Year Built: 2003
Lwr Lvl Sq Ft: Year Remodeled:


Room Information
Bedrooms: 3 MBR: 15x12 Upper DR: FLA:
Full Bath(s): 2 BR2: 13x12 Upper GR: KIT: 14x11 Entry LDY:
Lav(s): 1 BR3: 10x10 Upper LR: 21x13 Entry BFT:
BR4: FR: LB:
Other Rooms: 1ST FL LAU, LIVING RM

Property Information
Winter Taxes: $2,182 Assoc Fee: $160 Homestead: Y
Summer Taxes: $1,443 Assoc Fee Period: M Gas Incl: N
Spec Assmt: NONE Assoc Phone: 586-775-5757 Water Incl: Y
Restrictions: Y

Exterior/Construction Information
Architecture: 2-ST
Ext Material: BRICK, VINYL
Construction: PLATTED SUB
Site Desc: WOODED
Exterior Feat: DECK, PORCH, SPRINKLR, OUTSD LGHT, GROUNDS MNT., SAT DISH, PRIV ENTRY
Garage: 2 CAR, ATT
Water Fac:
Water Name:
Water Sewer: MUN WAT, SEW-SANIT
Environmental:

Interior Information
Foundation: BASEMENT Basement: UNFINISHED
Heating: FRCD AIR Fuel Type: GAS
Cooling: CENTRAL Water Heater: GAS
Interior Feat: CABLE AVL, SMP PUMP
Appliances: STV, DISHW, WASH, DRY, DISPSL
Fireplace: LIV RM
Bath Desc: 1ST F LAV, 2ND F BTH, MBR BTH

Listing Information:
List Office: JACOB INC
Terms Available: CONV, FHA, VA, CASH

Jacob Realty: Local Real Estate Headlines

From the Northville community, this report comes from the Observer & Eccentric Newspaper, a western suburban paper.

Township eyes senior housing needs
Part of a series reviewing the development proposal for the 414-acre former Northville Psychiatric Hospital property.

Richard O'Hare is getting to the age when a decision must be made.

Though he keeps busy as a reserve police captain for the Northville Township Police Department and part-time building attendant for the Northville Senior Community Center, the 63-year-old city of Northville resident said he and his wife, Jodie, would like to settle into an active senior community.

"I don't want to live in a nursing community, but a senior community where our grand kids can come and stay," O'Hare said. "We've talked about it and my wife wants to be able to stay in the area." Continue reading this story ...

Jacob Realty: Community Focus: Plymouth Michigan

"The City of Plymouth is one of the oldest communities in Michigan. It has a population of over 9,000 and a very active citizenship. Plymouth has a vibrant downtown with a variety of shops and restaurants, that surround a beautiful park. With an active recreation program, Plymouth is a great place to raise a family."
Source: City of Plymouth web site.

As of the census2 of 2000, there were 9,022 people, 4,322 households, and 2,277 families residing in the city. The population density was 1,562.1/km² (4,048.6/mi²). There were 4,498 housing units at an average density of 778.8/km² (2,018.4/mi²). The racial makeup of the city was 96.42% White, 0.57% African American, 0.35% Native American, 1.05% Asian, 0.07% Pacific Islander, 0.30% from other races, and 1.24% from two or more races. Hispanic or Latino of any race were 1.31% of the population.

There were 4,322 households out of which 22.2% had children under the age of 18 living with them, 42.5% were married couples living together, 7.5% had a female householder with no husband present, and 47.3% were non-families. 41.5% of all households were made up of individuals and 13.3% had someone living alone who was 65 years of age or older. The average household size was 2.04 and the average family size was 2.81.

In the city the population was spread out with 18.7% under the age of 18, 5.8% from 18 to 24, 37.5% from 25 to 44, 21.7% from 45 to 64, and 16.2% who were 65 years of age or older. The median age was 38 years. For every 100 females there were 88.7 males. For every 100 females age 18 and over, there were 85.4 males.

The median income for a household in the city was $51,535, and the median income for a family was $76,369. Males had a median income of $52,188 versus $37,113 for females. The per capita income for the city was $33,222. About 1.9% of families and 3.3% of the population were below the poverty line, including 3.8% of those under age 18 and 3.6% of those age 65 or over.
Source: Wikipedia

Jacob Realty: Advice for Sellers

For anyone gearing up to sell your home, here's an article that may prove helpful to you as you plan your "Things To Do" lists. If you have any questions that we may assist you with, please call or email us.

Getting a Home Ready to Sell
by Rick Campbell

Buyers pay a premium for a home that is in top-notch, move-in condition, so once you decided to sell, make sure the home is ready to be sold..

First, you have to figure out what needs to be done to your home. A thorough property inspection up front will help to identify problem areas. Having the property inspection done and all the corrections taken care of before you get offers also shows the buyers that you are conscientious homeowners. This will relieve some of their anxiety about buying a home.

Also, any buyer will have a property inspection done before closing the sale. Often, this is when they will re-negotiate the price because of any problems that may turn up in the inspection. Having your own inspection done and making all necessary repairs first removes this opportunity for the buyer to try and re-negotiate.

Properties in prime condition are a pleasure for real estate agents to show, so they get shown more often. The more exposure a property gets, the better the chance of selling it quicker and for a higher price.

Use the following checklist as your guide to preparing your home for sale.

Spruce Up the Outside
* Paint: Few things you will enhance the salability of your house quite as much as painting the outside. Before painting, scrape or water-blast any blistered or peeling paint; repair gutters and down spouts; and replace wood showing dry rot. Pay special attention to wood, trim, gutters, and wrought iron.
* Front Entry: Give special care to this area. First impressions do make a difference! All woodwork should be freshly and neatly painted, including the door if necessary. Replace badly worn or broken doorbells. Polish any door brass. Paint or replace an unsightly mailbox. Put out a new or clean doormat.
* Yard: Mow and trim the lawn. Weed flower beds; remove or replace dead plants or trees. Water regularly during the growing season. With desert landscaping, make sure that no underlying plastic is exposed, that rocks and sand are tidy, and that weeds and unwanted grass are removed.
* Driveway, garage/carport: Clean up grease or oil spots; remove the soil at least, if not the stains. See that the garage door opens freely, and if you have an automatic door opener, make sure it's in good working order.
* Air Conditioners: Paint or replace any rusted exposed metal. Correct improper draining.
Patio: A nice spread of outdoor furniture looks very appealing. If necessary, borrow some from a friend to enhance the "showability" of your property.
* Swimming pool: Adjust chemicals until the pool sparkles. Hose dust and cobwebs from filtration equipment. Store chemicals and tools neatly. Keep pool area tidy and secure.

Look at the Basics
* Windows: Repair or replace torn or bent screens. As a last resort, remove them entirely; it's better to have no screens than to have unsightly ones. Replace any cracked or broken panes. Also, notice unsightly foliage near windows. A window framed in ivy can give a warm, homey feeling, but cut it back if the foliage is restricting the light coming into the rooms. Drapery rods should be affixed firmly to walls and work smoothly; draperies should be clean and hang properly.
* Doors: Check to see that all doors open and close freely, including closet doors and patio or sliding glass doors. Oil any squeaky doors. Tighten the hardware, particularly doorknobs. And while you're at it, tighten hardware on kitchen and bathroom cabinets, too.
* Walls: As with the exterior, painting indoors will pay dividends out of all proportion to the time and effort spent. Wallpaper should be clean and adhere smoothly to walls.
* Floors: Repair or replace missing or damaged pieces of tile; polish if needed. Repair of a loose stair tread plate or loose carpeting on a stairway is a top priority.
* Carpet: Steam cleaning is the best answer for soiled carpets, especially when shampooing isn't enough. If pet odors are present, clean the carpet some time before your home is placed on the market to be sure the odors have been eliminated.

Check the Mechanicals
* Lights: Every light socket in and around the house should have a good bulb of adequate wattage. Don't overlook those outside and in the garage. Also remember the utility room, halls, closets, over the kitchen sink, and in the oven and exhaust hood.
* Switches and fixtures: Repair or replace wall switches, outlets, and light fixtures that don't work. Replace any broken switch plates.
* Appliances: Those that will be sold with the home should be in good working condition. If specific equipment doesn't work and you don't intend to repair it, point this out.
* Plumbing: Badly chipped or irreversibly stained sinks and tubs should be re-enameled, patched, or replaced. Leaky or noisy toilets should be fixed, as well as any dripping faucets.
* Sprinkler systems: These should be working properly with no defective heads.

Go for the Spacious Look
One of the best and least expensive ways to improve the "showability" of your home is to open up as much space as possible. Openness stimulates positive feelings in buyers. Overstuffed rooms or closets give the impression of being smaller than they really are. You can't change the size of what you have, but you can try to present it in a pleasing way.

* Closets and storage areas: One of the most frequently voiced requirements of buyers is for more closet and storage space. Open up your storage areas by removing items you aren't using.
* Counters and cabinets: The same principle used for closets applies here: overcrowding gives the impression of inadequacy. This applies to bathrooms and kitchens with the kitchen being most important. Store infrequently used appliances.
* Garage: Buyers will pay a premium for a garage if they can visualize it being of value to them, but it's hard to sell when the garage is filled to overflowing. If your garage has become a two-car attic, move the excess to a mini-warehouse.

Housekeeping Hints
* Bathrooms: Few places in the home can get so dirty so fast, and yet few things will "unsell" a house as fast as dirty bathrooms. Vanity, sink, faucet hardware, and mirror are the focal points. But don't forget other potential problems: soap residue in a shower, a moldy shower curtain, accumulated dirt in the track of a sliding shower door, soiled or missing grout, soiled toilet bowls, and dirty or battered bath mats.
* Kitchen: Most buyers will inspect the kitchen carefully, so time invested here is well spent. Clean the stove inside and out. Replace badly stained or corroded reflector plates under the heating elements on electronic range tops. Don't neglect the kitchen exhaust hood; buyers frequently check this area as a clue to general housekeeping.
* Windows: Clean windows are an absolute necessity if a house is to look its best. Weather permitting, open windows to let in fresh air.
* Water heater and softener: Perhaps because it's so unusual, a sparkling clean water heater or water softener really impresses buyers: and it takes so little time and effort.

All this may seem like a lot of work, and it is, but it means a quicker sale with less hassle and more money in your pocket. Not to mention the pleasure you and your family will receive from living in a well-kept home.

Rick Campbell is a former RE/MAX agent/owner who now designs local real estate information sites.
Source: Real Estate Articles.com