Texas Land Title Abstracts
AncestryLibrary.com- Search Texas Land Title Abstracts Sorry, we were unable to authenticate you. Click here to login Texas Land Title Abstracts Description: This database contains abstracts of original titles located in the archives of the Texas General Land Office in Austin, Texas. The records provide information about lands granted and transferred within the state of Texas including those dated in the 1700s. Fields of information include the district name (a three-letter code) the county, page in original document, grantee, patentee, date, volume, description/location, acreage, class, file, and any additional data found in the record. This database will prove useful for those seeking ancestors in Texas. Thanks to the Texas General Land Office who have worked with Ancestry.com to update this database with current and accurate information. Extended Description: The following are the prefix codes for land districts in Texas: AUS ------- Austin LAM Lamar BAS ------- Bastrop LIB Liberty BEX ------- Bexar MAT Matagorda BOW ------ Bowie MIL Milam BRA ------- Brazoria MON Montgomery BRS ------- Brazos NAC Nacogdoches COL ------ Colorado PAN Panola FAN ------ Fannin PAS Paschall FAY ------ Fayette RED Red River FOR ------ Fort Bend REF Refugio GAL ------ Galveston ROB Robertson GOL ------ Goliad RUS Rusk GON ------ Gonzales SAB Sabine HAR ------ Harris SAU San Augustine HAS ------ Harrison SHE Shelby HOU ------ Houston SPA San Patricio JAC ------ Jackson TRA Travis JAS ------ Jasper VIC Victoria JEF ------ Jefferson Requests for more information about a name found in the land title abstracts of Texas may be obtained for $5.00 from the Texas General Land Office. Please click on the link to access the name submission form. (Link here) Upon completion of the form, please mail the form and fee to the following address: Texas General Land Office Stephen F. Austin Bldg. 1700 North Congress Avenue Austin, Texas 78701-1495 http://www.glo.state.tx.us/archives.html Source Information: Ancestry.com. Texas Land Title Abstracts [database online] Provo, UT: Ancestry.com, 2000. Original data: Texas General Land Office. Abstracts of all original Texas Land Titles comprising Grants and Locations . Austin, Texas: , 19--.
Real Estate Agent: It's
Amazon.com: Millionaire Real Estate Agent: It's Not About the Money: Books Your Store Books See All 32 Product Categories Your Account | Cart | Wish List | Help | Advanced Search | Browse Subjects | Bestsellers | The New York Times® Best Sellers | Magazines | Corporate Accounts | Amazon Shorts | Bargain Books | Used Books | Textbooks Search Amazon.com Books Web Search Join Amazon Prime and ship Two-Day for free and Overnight for $3.99. Already a member? Sign in . or Sign in to turn on 1-Click ordering. A9.com users save 1.57% on Amazon. Learn how . More Buying Choices 20 used & new from $9.15 Have one to sell? Share your own customer images Look inside this book Millionaire Real Estate Agent: It's Not About the Money (Paperback) by Gary Keller , Dave Jenks , Jay Papasan (57 customer reviews) List Price: $20.00 Price: $20.00 & eligible for FREE Super Saver Shipping on orders over $25. See details Availability: This title usually ships within 4 to 6 weeks. Please note that special order titles occasionally go out of print, or publishers run out of stock. These hard-to-find titles are not discounted and are subject to an additional charge of $1.99 per book due to the extra cost of ordering them. We will notify you within 2-3 weeks if we have trouble obtaining this title. Ships from and sold by Amazon.com. 20 used & new available from $9.15 Other Editions: List Price: Our Price: Other Offers: Paperback (1) $21.95 $14.93 65 used & new from $11.00 Audio CD $75.00 $75.00 2 used & new from $75.00 Better Together Buy this book with 21 Things I Wish My Broker Had Told Me... byFrank Cook today! Buy Together Today: $37.29 Customers who bought this book also bought 21 Things I Wish My Broker Had Told Me : Practical Advice for New Real Estate Professionals. by Frank Cook The Millionaire Real Estate Investor by Gary Keller How To Become a Power Agent in Real Estate : A Top Industry Trainer Explains How to Double Your Income in 12 Months by Darryl Davis Your First Year in Real Estate: Making the Transition from Total Novice to Successful Professional by Dirk Zeller How to Develop a Six Figure Income in Real Estate: Superstar Selling the Mike Ferry Way by Mike Ferry Explore Similar Items : in Books , in Magazine Subscriptions , and in Tools & Hardware Editorial Reviews Chris Leporni, Realtor Magazine "Keller presents the million-dollar benchmark as a symbol of excellence, rather than a monument to materialism." Mark Victor Hansen, Co-creator #1 New York Times best-selling series Chicken Soup for the Soul(R) and Co-author, The One Minute Millionaire "The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and your life." See all Editorial Reviews Product Details Paperback: 368 pages Publisher: Rellek Publishing Partners (February 15, 2003) Language: English ISBN: 0970294107 Shipping Information: View shipping rates and policies Average Customer Review: based on 57 reviews. ( Write a review. ) Amazon.com Sales Rank: Today: #97,259 in Books Yesterday: #44,792 in Books (Publishers and authors: improve your sales ) In-Print Editions: Paperback (1) | Audio CD | All Editions Look Inside This Book Browse Sample Pages: Table of Contents | Excerpt | Back Cover Customers who viewed this book also viewed Real Estate Agent's Business Planning Guide by Carla Cross Real Estate Rainmaker: Guide to Online Marketing by Dan Gooder Richard Complete Idiot's Guide to Success as a Real Estate Agent (The Complete Idiot's Guide) by Marilyn Sullivan Mastering the Art of Selling Real Estate by Tom Hopkins Your Successful Real Estate Career by Kenneth W. Edwards Explore Similar Items : in Books , in Magazine Subscriptions , and in Apparel Spotlight Reviews Write an online review and share your thoughts with other customers. 183 of 190 people found the following review helpful: Made My First Year In Real Estate a Huge Success! , July 15, 2004 Reviewer: Cheryl Sellers Johnson "www.SellersTeam.com" (Rockville, MD United States) - See all my reviews I found this book on Amazon when I was just starting out in Real Estate. I read many of the how-to books because I wanted and needed to hit the ground running in my new career. This book, by far, was the most information-packed and practical guide to starting a real estate business. (By the way, another excellent book is "How to Become a Power Agent in Real Estate" by Darryl Davis). I am an attorney and before starting my real estate career, I had my own law practice; and before that, I had my own computer consulting company-both successful ventures. I approached real estate from a businessperson's perspective and this book difinitely speaks to the serious businessperson. There are so many books and articles telling new agents where to spend their time and money that by the time the agent figures out what works and what doesn't, they have spent their entire budget and an entire year, and have not made enough money to move on. That's why 70% of new agents drop out of the field by the end of their second year. This book helps agents, new and seasoned, stay focused on the bottom line. Moreover, it answered the most important question for me--If I need to generate $80,000 in income per year (salary, not gross commissions), what activities do I need to do and how much will it cost me? So many of the other books and articles claimed to have the winning formula by telling you that you must knock on 50 doors per week and make 50 cold calls per week to generate business. Their theory is that it must be painful if you are to be successful. This book, however, gives you lists of ideas and says if you do "x" number of activities from this list, you can expect to receive "x" number of transactions per year. YOU get to pick which activities you perform (if you don't like knocking on doors, pick another activity--it does not have to be painful for you to be successful). The other books tell you that you must know a lot of people--friends and family--and that you MUST call and hound them in order to get business. This book, alternatively, says that if you do not know a lot of people (if you are new to an area) or if you don't want to call your friends and family and beg for business, you don't have to. It gives you the formulas so that you can determine how much marketing you have to do with the "people I haven't met yet" group to generate the same results as you would have with your "friends and family" group. Using this book as a business modeling guide, I closed just under $3 million in volume in my first year; and just over $7 million my second year. I already broke through the $6 million volume cap that many seasoned agents hit as a glass ceiling and cannot move beyond. My broker with my first real estate company (Long & Foster) was hostile to my business model because she didn't understand it and because I was taking control of my own career. She wanted me to follow her formula and she wanted me completely dependent on her for my success (even though she never provided me with leads). Then Keller Williams came to Maryland! (Gary Keller, the author, founded Keller Williams to empower real estate agents to run their own successful businesses). I joined Keller Williams and now I am surrounded by agents and brokers who realize that the business is mine and that the broker's role is to support my success. They do not believe, like so many other companies, that the agent's role is to make the broker rich. This is obvious by the fact that they offer one of the highest commission splits in the industry, without charging a monthly "desk fee," and they share the profits with their agents! And their entire culture is based on the "Millionaire Real Estate Agent" business models. If you are serious about approaching real estate as a business, you must read this book. Was this review helpful to you? ( Report this ) 95 of 104 people found the following review helpful: The Real Deal, Can't Recommend Highly Enough , July 16, 2003 Reviewer: Jeff Hansen (San Jose, CA) - See all my reviews After reading this book three times through I'm struck with one overriding sense, "OK, this guy gets it". Can one book successfully sum up what's needed for a successful real estate career.....yes. I've been a real estate broker for 11 years and I've been to and heard just about every major "real estate trainer" out there: Wickman, Buffini, Stumpf, Kennedy, Ferry, Knox, Droz, DeLuca, etc. What they all offer are specifics of how they were successful realtors in their time. Which is really helpful, but what sets this book apart is that Keller looks at the challenge of treating your real estate sales career like a business. There is real wisdom here, not just about having a "successful" real estate career, but life balance, and personal fulfillment through our real estate business. I know a number of other agents who have read this book and one thing I've heard a few times is "I wish something like this was around when I got into the business", which are exactly my thoughts. Keller has kind of a tough love approach to spelling out exactly what is involved in true mastery as a realtor producing at a very high level. Another thing I find interesting is that this book could be about any industry, any career. The disciplines and business concepts he describes are universal. Keller starts with the open questions of essentially "what would it take for an agent to succeed at a really high level, and let's use a million dollars as a kind of random goal." He then builds with 1) finding the motivation within to climb this mountain, 2) How to earn a million, 3) how to net a million, 4) how to receive a million in passive income (a true business owner), and finally 5) how to put it all together with the key of focus driving your business. Keller has a direct common sense outlook and writing style which I found refreshing. This book applies to the new agent as well as a realtor who is already producing at a high level. Was this review helpful to you? ( Report this ) Customer Reviews Average Customer Review: Write an online review and share your thoughts with other customers. 3 of 4 people found the following review helpful: This is the worst and most boring book I ever read in my life! , December 14, 2005 Reviewer: Willie Shi "bill stone" (bay area) - See all my reviews what this book all about? sell himself and his company! there are total 5 chapter. want to know what chapter 1 tell you? do it! do it!!! you could do it!!! chapter 2 think big! the more money you could imagine, the more money you will be received. chapter 3. earn it as long as you do it, you will earn it. there is no HOW you will be able to find in this book??? chapter 4. net it or deposit it to the bank. even fools know how to walk to the bank. chapter 5. receive it and spend it. absolutably nonsenses!!! bottom line don't waste your money and time. It's worthless! Why did i buy this book? I was cheated! I doubt that all the positive review are from the insiders. Don't fall on a trick! don't take my word for it, walk to the Barnes & Noble and find out yourself! Was this review helpful to you? ( Report this ) 2 of 2 people found the following review helpful: The best book on how to succeed in real estate , November 29, 2005 Reviewer: R. J Sharpe "Texkabob" (The Republic of Texas) - See all my reviews This book is an excellent tool for a beginning agent or an experienced agent who wants to take his or her business to the next level. It is especially valuable in the following areas: 1. Lead Generation - the book is crystal clear about the fact that real estate is a lead generation business. The authors provide quantifiable models to generate leads that work, provided that the agent is disciplined enough to follow and stick with the program. 2. Budgeting and Marketing - Too many agents make the mistake of spending money they don't have. The authors stress the need to spend out of profits (red light, green light) and stick to your budget. The top line is important if you want to feed your ego and be agent of the month. The bottom line is important if you want to live a really good life. 3. If you list, you last - The authors stress that agents should prospect for listings. This is extremely important. Listings are inventory, and as with any business, the person who controls the inventory is the person who will profit the most. The beauty of inventory in real estate is that you don't own it, so you don't pay the carrying costs, run the risk of loss or theft etc as you would in most other businesses that carry inventory. Without a listing inventory, you are vulnerable to the market. With a listing inventory, you are the market. One area where caution is warranted is in the hiring of staff. The authors are decidedly pro-team, and that's fine, but too many agents add staff too quickly and kill their bottom line as a result. It's helpful to look at the profiles in the back of the book and determine how many transactions per year per person these top teams do. Unless you leverage your staff to do more transactions per person than you can do alone, you might be better off growing staff more slowly than quickly. That's a minor gripe, though, and the authors do an adequate job of explaining the risk. Overall, this book is the best source of knowledge on how to structure a winning residential agency business that I've come across, and it is well worth the price of admission. Bob Sharpe www.canyonlakemls.com Was this review helpful to you? ( Report this ) 8 of 8 people found the following review helpful: Developing a Real Estate Business: This is the Best! , November 12, 2005 Reviewer: Ernest Buckley (Brooklyn, New York) - See all my reviews I have to laugh at the people who complain about this book, they are not reading the same book I am. I turn to Kellers book almost weekly. I went from no sales and no listings to 3 listings in 3 weeks since reading his book. Just his 8x8 touch technique alone was worth the price. This book is not for everyone. If you are satisfied with your career as is then you will not go the extra effort Keller suggests. For the serious Realtor looking to go out on their own, this book is the roadmap on how to do it. My ten year plan is to develop the skills and relationships needed to go out on my own. This book will take me there with some hard and smart work. Just the fact that Keller has such details in one book is amazing. Everyone from Michael Gerbers to Tony Robbins systems are in this book. What makes it a classic is the fact that the book can combine such a wide range of information in a clear and simple format. Thanks to Keller for writing such an inspiring book. Much Success! Was this review helpful to you? ( Report this ) 1 of 4 people found the following review helpful: Must read! , October 26, 2005 Reviewer: Laura - See all my reviews For everyone who's new, newer or older in the real estate arena, this book will change your way of doing business. Was this review helpful to you? ( Report this ) See all 57 customer reviews... Listmania! Real Estate Career : A list by Barry Bullard Be a Realtor : A list by Orange Peel List for Real Estate Agents : A list by "boevans2" Create a Listmania! list So You'd Like to... Work Less and Earn More : A guide by carlamarie , Business Guru Be a Sales Champ? : A guide by Steve Green , Sales Enthusiast take another look-see IV : A guide by Melody Davis , mostly do-it-yourself style books Create a So You'd Like to... guide Look for similar items by category Subjects > Business & Investing > Industries & Professions > Real Estate > General Subjects > Business & Investing > Industries & Professions > Real Estate > Sales Subjects > Business & Investing > Marketing & Sales > Sales & Selling > General Look for similar items by subject Business & Economics / Real Estate Business & Economics / Sales & Selling Business / Economics / Finance Finance, Personal Personal Finance Real Estate - Sales Real estate agents Real estate business Business & Economics Career development Guidebooks Real Estate Sales & Selling Success in business Vocational guidance i.e., each book must be in subject 1 AND subject 2 AND ... 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Real Estate Prices
Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages on Yahoo! Real Estate Find Real Estate, Rentals, New Houses, Real Estate Agents and Mortgages Choose Location Home Homes for Sale Apartments for Rent Home Loans Moving & Insurance Tools My Real Estate Hurricane Katrina Resources Features Classifieds • Sell Your Home • Rent Your Apartment Home Loans • Mortgage Rates • Online Rate Quotes • Refinance Loans & Rates • Home Equity Loans & Rates • Free Credit Reports Resources • Find & Compare REALTORS • Find a Mover Insurance • Homeowner's Insurance • Renter's Insurance Tools • What's My Home Worth? • Research Neighborhoods • Free School Reports • Foreclosure Center • Home Service Center Commercial Real Estate • List Commercial Property National Mortgage Rates Thu Dec 29 Mtg Loan Rate APR 30-yr Fixed: 5.70% 5.88% 15-yr Fixed: 5.27% 5.57% 1-yr ARM: 4.53% 6.89% See Local Mortgage Rates Provided by Bankrate.com Neighborhood Profile Research neighborhoods nationwide! City, State, or Zip: Real Estate Listings Browse by City New! Home Loans Center - Find, Compare, & Graph Rates Find a Home Find a Rental City & State, or Zip: Price Range: $0 $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million to No limit $30,000 $50,000 $80,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $650,000 $750,000 $850,000 $1 million $1.25 million $1.5 million $1.75 million $2 million $2.25 million $2.75 million $3 million $3.5 million $4 million $4.5 million $5 million $6 million $8 million $10 million Beds: Any 1+ 2+ 3+ 4+ 5+ Baths: Any 1+ 1 1/2+ 2+ 3+ 4+ 5+ Search For: Existing Homes Yahoo! Classifieds New Homes Foreclosures Advanced Search Search Commercial Real Estate Mortgage Payments Calculate your biweekly & monthly payment for different loan amounts, interest rates and amortization terms. Loan Amount: $ Term (years): Interest Rate: % Show table?: Yes No See More Loan Calculators Sponsored Links Refinance Now with Oak Street Mortgage Do you have less than perfect credit? Let Oak Street Mortgage help you find a loan that meets your needs apply today its quick and easy. www.oakstreetmortgage.com Refinance Rates as Low as 2.9% Refinance - up to four free quotes. Compare rates and choose a great offer within our network. No obligations. Bad credit - OK. www.homeloantrust.com Capital One Refinance Lower your payments an avg. $400 a month. A personal home loan consultant will work with you to find a loan that fits your needs. Apply online and receive a call back within 30 minutes. www.capitalone.com (Become a Sponsor) Partner Spotlight Featured Sponsor Find a Local REALTOR by HomeGain • Find & Compare REALTORS • Get Home Prices Featured Videos Dream Home Videos by Inman Stories Real Estate News Financing your first real estate investment Dec 29, 2005, Inman News Top Mistakes of Home Buyers and Sellers in 2005 Dec 29, 2005, Realty Times Housing Affordability Hits 14-Year Low Dec 22, 2005, RealEstateJournal.com Home loan applications fall to over 3-1/2-yr low Dec 28, 2005, Yahoo! Finance Weekly Home Mortgage Rates (AP) Dec 28, 2005, Yahoo! News Despite Decline, Housing Still Strong Dec 28, 2005, Quicken Loans more real estate news Homes For Sale - Apartments For Rent - Current Mortgage Rates - Real Estate Agents - Local - Yellow Pages
Sell House
Tips on Buying and Selling Your House Remarked out per Bob Gent 4/11/02 -- TIPS TO HELP YOU SELL YOUR HOME MORE QUICKLY Owners can help expedite the sale of their home by following a few guidelines to make the house more attractive to potential buyers. A thorough self-inspection and a walk-through with your real estate agent can reveal imperfections that might hinder a sale. (Please note: in Washington state, as in many other states, the seller must complete a "Real Property Transfer Disclosure Statement" form about the condition of property being offered for sale. Material defects must be disclosed.) House-hunters typically begin their inspection of a property bypreviewing its "curb appeal." A surprising number ofhomes are eliminated from consideration before potential buyersget out of their car because they find the exterior appearanceunsightly or uninviting. Following are some basic suggestions for improving the marketabilityof your home. Examine the lawn and flower gardens, making sure the lawnis mowed and free of drainage problems. Colorful flowers andshrubs can enhance the home's attractiveness. Check the sidewalks and driveway to make sure they're freeof weeds and clutter. Inspect the home's exterior, looking for loose, missing ordamaged siding and brickwork, a cracked and uneven foundation,and gutters, downspouts or fences that are in disrepair. Paintor repair any problem areas. Clear the decks! Clean decks, patios and steps, removingunnecessary furniture, toys and debris. Tidy up any pet areas. Inspect the front door. A fresh coat of paint or stain anda clean doormat can help create an inviting "first impression." Check lighting, making sure pathways and entry have adequateillumination. Inside the home, you should conduct an equally thorough inspection,since potential buyers are likely to open doors and cupboards,look into, look behind and operate everything to make sure thehome offers the space, layout and features they need. Extensiveredecorating isn't usually recommended, but all rooms should beclean and clutter-free. Think "light," "bright,""open" and "airy." Clear rooms (including closets and storage areas) of everythingbut the basics. Arrange furniture so rooms look spacious. Remove clutter from the basement and garage. Sweep floors,degrease spots and dust. Have carpets and drapes professionally cleaned. Patch walls and ceiling cracks, then repaint or wallpaper,using neutral shades. Check the basement for musty smells and signs of mildew orleaks, correcting any defects. Inspect bathroom and kitchen fixtures to make sure they sparkle,are leak-free and are otherwise functioning well. Remove stainsfrom countertops, sinks, tubs and showers. Test major mechanical components, including the furnace, waterheater and electrical system. Make sure windows and doors open and close easily. Replacecracked or scratched glass. Be aware of the amount and type of insulation. DETERMINING HOW MUCH HOUSE YOU CAN AFFORD Low mortgage rates and special incentives for first-time buyersare making the dream of home ownership a reality for more individualsand families. As you begin your search, you'll want to determinehow much house you can afford and what type of mortgage is bestfor your budget. In general, four factors will influence your ability to buy thatdream home. They are: how much of a down payment you will make. The more cash youput down, the less you'll have to borrow. the amount you need to borrow (your mortgage) to cover a monthlypayment for the loan principal (amount borrowed), interest ("price"charged for your use of the lender's money), taxes ( a portionof property taxes), and insurance. the mortgage interest rate. the repayment terms of your loan. When applying for a mortgage, your current earnings and expectedincome during the next few years may influence your borrowingpower. Outstanding long-term debt and how long you expect tostay in the home you're buying may also be considered. Most realty agents recommend getting preliminary approval fora loan, usually by getting "pre-qualified" or "pre-approved"for a certain monthly payment. Getting approved for a loan requireshaving a lender verify your financial situation, including yourcurrent assets (income, savings, investments and other sourcesof revenue) and your liabilities (existing loans, credit cardbalances and other obligations). Using this information, thelender will evaluate whether there are sufficient funds for thedown payment, whether you have adequate income to make monthlypayments, and your overall credit-worthiness, which is based ona review of your borrowing history. According to many real estate professionals and lenders, the biggestreason people get turned down for a loan is poor credit. Reviewingyour credit status and correcting any mistakes before applyingfor a loan can help you avoid surprises or disappointments. Consumersmay request a copy of their credit report from one of three majorreporting services: Equifax: 1-800-685-1111 Trans Union: 1-800-851-2674 Experian: 1-888-EXPERIAN (1-888-397-3742) A small fee may apply, although if you've been denied credit recently,federal law mandates that the lender tell you which company suppliedthe information. You have a right to a free copy of your reportfrom that company so long as you request it within 30 days ofthe credit denial. Pre-qualification, based on numbers you supply to a lender, isan indication of the range of what you can afford. Getting pre-qualifiedis neither a commitment to loan you money, nor is it an obligationby you to borrow from a particular lender. Lenders typically use one of two guidelines when evaluating aloan request. Most lenders will limit the loan amount to a percentageof your gross monthly income or to a multiple of your annualhousehold income. As a general rule, individuals or families can usually handlea housing payment that amounts to 25- to-28 percent of their grossmonthly income. Following this guideline, if gross monthly incomeis $3,500, monthly payments (inclusive of taxes and insurance)in the range of $875 to $980 are considered reasonable. Somelenders use an alternate ratio that allows 36 percent of totalmonthly income for housing expenses and other long-term debts,such as car loans, credit card payments and obligations for childsupport. (Monthly living expenses for utilities, groceries, entertainment,medical and auto insurance are not calculated in this formula.) Another guideline, based on gross annual household income, assumesmost borrowers can afford up to 2.5 times their gross annual income. This means a borrower with total income of $40,000 may qualifyfor a loan of up to $100,000. Whether using a "multiplier method" or a "percentagemethod," prospective home buyers should allow for closingcosts and moving expenses. (Closing costs are the fees and taxesthat are paid when the deed is transferred. These usually amountto 5-to-10 percent of the mortgage amount. Moving expenses includecosts for movers, as well as "move-in" deposits forutilities and other "necessities"). Many lenders provide work sheets and charts to help you calculateyour borrowing power, along tables so you can compare paymentsat different rates and for different loan periods. (Some realestate brokers and financial institutions even have "mortgagecalculators" on their Internet site to help you determinewhat you can afford.) Your borrowing power can be increased with favorable interestrates and terms. With lower rates, you can borrow more money. Different types of loans and the duration of the payback periodwill influence the interest rate that will be applied to yourmortgage. In general, the shorter the term of the loan, the lowerthe interest rate. There are dozens of different types of mortgage programs froma wide variety of financial institutions, including mortgage companies,saving and loan associations, commercial banks and credit unions. Prudent consumers will find it pays to compare options to findthe right loan for their particular situation. THE MULTIPLE LISTING SERVICE (MLS) A multiple listing service is a system for collecting and organizinginformation on available properties in a given area. Such informationis shared by members who agree to cooperate with each other andto abide by certain operating procedures. This service enablesbuyers to have a vast selection of homes to consider, while sellersbenefit from having their property exposed to a large networkof real estate professionals and their clients. Most brokers in the Seattle-Everett-Tacoma area are members of the Northwest Multiple Listing Service (NWMLS), formerly called Puget Sound Multiple Listing Association (PSMLA). More than 1,300 companies with approximately 15,000 licensed sales professionals currently belong to this independent association. In addition to its primary function of maintaining a comprehensive database on thousands of properties, NWMLS produces various legal forms, publications and reports for its members. The "multiple" also maintains an electronic keybox system, which allows access to listings by authorized agents. Other benefits include an array of computerized services to assist with property searches, financial analysis, communications between offices, and access to data on property taxes, local schools and other information. Ongoing training and technical support are also available to NWMLS brokers and agents.
Real Estate Prices
Why the world's best real estate investor is cashing out. - Oct. 24, 2005 Web CNN/Money Home News Markets Technology Commentary Personal Finance Autos Real Estate News Newsmakers SAVE | EMAIL | PRINT | SUBSCRIBE TO MONEY | The king of real estate's cashing out Tom Barrack is selling most of his U.S. portfolio. Maybe you should be nervous too. October 24, 2005: 7:56 AM EDT By Shawn Tully , Fortune Senior Writer NEW YORK (Fortune) - Tom Barrack, arguably the world's greatest real estate investor, is methodically selling off his U.S. real estate holdings as prices drive the market to nosebleed levels. He likens the current real estate market to a game of polo. "I feel totally safe playing polo on a field full of pros," says the bronzed 58-year old. "But when amateurs are all over the field, someone can get killed. They have more guts than brains. They charge after every ball and don't know when to hold back." It's the same with U.S. real estate right now. "There's too much money chasing too few good deals, with too much debt and too few brains." The amateurs are going to get trampled, he explains, taking seasoned horsemen, who should get off the turf, down with them. Says Barrack: "That's why I'm getting out." Investors take heed. Barrack may be an amateur at polo, but when it comes to judging markets, he's the ultimate pro. Arguably the best real estate investor on the planet, he runs a $25 billion portfolio of trophy assets, from the Raffles hotel chain in Asia to the Aga Khan's former resort in Sardinia to Resorts International, the largest private gaming company in the U.S. Barrack's Colony Capital, one of the largest private equity firms devoted solely to real estate, has racked up returns of 21 percent annually since 1990, handing investors, chiefly pension funds and college endowments, 17 percent after all fees. Barrack bought the Fukuoka Dome, Japan's Yankee Stadium, in part because he calculated that the titanium in the retractable roof was worth as much as the purchase price. His strategy is to buy classy but neglected properties anywhere in the world where prices are low. Then, he'll pour in capital to fix them up, and resell in them in five years of so with their pedigrees fully restored. Says his friend Donald Trump: "Tom has an amazing vision of the future, an ability to see what's going to happen that no one else can match." Right now, Barrack's view of the U.S. market couldn't be clearer: It's a great time to sell, and a terrible time to buy. In fact, he sees signs of the tech bubble mentality in real estate. Too much capital is chasing real estate, he explains, with hedge funds, private equity groups, and rich investors all bidding on the same properties. "They've driven prices to the point where the yields on high-quality properties are like the returns on bonds, around 5 percent or 6 percent," says Barrack. "That's too low." And he sees the bubble deflating soon. Barrack thinks the catalyst will be a trend few others are talking about, a steep rise in the price of building materials and labor. "Construction costs have spiked 20 percent in the past nine months," he says. The reasons: Shortages of labor and materials like lumber because of the building boom, and increases in the price of oil, needed to produce everything from plastic piping to insulation to shingles. The slump will show up first in speculative hot spots like Miami and Las Vegas, he says, where condo developers are preselling their projects for what looks like big profits. When they actually build the units over the next year or two, he predicts, they will end up spending more then the units are now selling for. At that point, says Barrack, the developers will try to raise prices. "But most of these buyers are speculators," he says. "They will either sue the developers to get the original price or take their deposits back and walk away." The developers will then put the units back on the market, and the glut of vacant condos will drive prices down. "It's the busted deals caused by construction costs that will cause the turn in the market," he says. So Barrack is buying just one type of property in the U.S.: Casinos. And in contrast to most gaming titans, he's doing it on the cheap. Extraordinary homes, on the cheap ... click here Colony paid just $280 million for the 3000 room Las Vegas Hilton in 2003, one-tenth of what Steve Wynn paid to build his new casino, which has roughly the same number of rooms. The reason Barrack likes casinos is that he's licensed to operate casinos in all the major markets, while most other private equity firms and other financial players don't have licenses. Hence, they're locked out of the market, and can't bid against Barrack. For Barrack, casinos are a safe, exclusive preserve, far from the frenzied melee that's makes every other part of U.S. real estate such a dangerous place to play. For now, Barrack is getting off the field. But when the din subsides, and the amateurs depart, look for Barrack to ride back in, mallet cocked, ready to play again. ---------------------- To read the full-length article from Fortune, click here . The Hot List Most profitable renovations How risky is your 401(k)? Big new tax credits for hybrid cars More Newsmakers Google, Oprah looking hot in '06 Ex-Enron exec pleads guilty NYC transit deal gets OK contact us | magazine customer service | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business2.0 = Money subscribers = Premium content -- * - Time reflects local markets trading time. † - Intraday data is at least 15-minutes delayed. Disclaimer © 2005 Cable News Network LP, LLLP. 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