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Worsening Affordability, Commutes, Natural Disaster Losses 

It is a favorite hobby of many to watch house-flipping shows on television. You get to see everyday folks turning the worst-looking properties into beautiful homes that many people would pay top dollar for. Something about the glamour and drama of renovation just makes good television. But that’s all it really is — good television. In reality, property flipping is not as picture perfect as it seems.

Members of  Forbes Real Estate Council were asked about the most common misconceptions of property flipping. If you’re in the market for a flip, consider these factors first.

Read Full Article: [Source: www.Forbes.com]

 

What’s the Real Estate Market Outlook for 2019?

It’s complicated. In the course of compiling its annual Emerging Trends report, the Urban Land Institute found that the onlycertainty in its outlook for 2019 was uncertainty. Expert analysis points to a more complex, multi-layered series of overlapping trends, with unpredictable results, as opposed to a few strong narratives.

Will technology offer more opportunity and enhance competition and efficiency, or help consolidate the industry and drive out smaller players? How will shifts in demographics and shopping patterns challenge current investment practices? Will the U.S. ever get a grip on its housing affordability issues?

The report, a joint project of ULI and PricewaterhouseCoopers researchers unveiled during its fall meeting in Boston this afternoon, considered the responses of more than 750 real estate professionals in creating an high-level overview of the trends it believes will impact the real estate world. While the report expects an overall economic slowdown next year, emerging trends and markets in flux that could provide new opportunities.

Discover the broad trends and innovations expected to shape the real estate industry in 2019.

Read Full Article [Source: www.curbed.com]

Tips for Investing in Vacant and Abandoned Properties

When it comes to buying vacant property, the first thing to note is that a vacant property has the potential to encounter a few more problems than usual. Since the property is sitting vacant, there may be damage from bugs, mice, or even vandalism. While these issues could create a small speed bump for your investment deal, they should instead be thought of as factors that would increase the likelihood of a sale from the owner’s point of view.

Similarly, vacant properties, like any, demand upkeep. They may fall victim to a number of issues simply by sitting untouched over a given period of time. Depending on the amount of time a property has been vacant, sellers may not even realize how much upkeep should be going into the home. For those wondering how to buy a vacant property, consider the seller’s motivation: they may be ready to part ways with the home because of their current holding costs.

Find out what you need to know to successfully invest in and profit from turning vacant properties.

Read Full Article [Source: www.fortunebuilders.com]

5 Tips for Buying a Foreclosure

Buying a foreclosed home is not like the typical home purchase. In many cases:

• Only one real estate agent is involved.
• The seller wants a preapproval letter from a lender before accepting an offer.
• There is little, if any, room for negotiation.
• The home is sold as-is, and it’s up to the buyer to pay for repairs.

On the upside, most bank-owned homes are vacant, which can speed up the process of moving in.

“Buying a foreclosure is definitely a bit of a grind. It’s not easy,” says Robert Jensen, broker and president of the Rob Jensen Co. in Las Vegas. “You’re getting fantastic pricing, but sometimes it takes going through a lot of houses and writing a lot of offers to get the home you want.”

Read Full Article [Source: www.bankrate.com]