Real Estate Fraud

This is an activity that is purposely done to misrepresent information on real estate documents. It also involves the money transfers. It is also called mortgage fraud. The reason that it is referred to as this is that the fraud generally takes place with the mortgage application. Real estate fraud, in the United States, can have heavy penalties like imprisonment and large fines.

Such a crime can be committed in many different ways. It appears to happen more often when property prices are on the rise. Because of the simplicity of the fraud, some types are seen more than other frauds. Some are not as common because they are more complicated. One of the common forms of such fraud, according to the IRS is preparing two settlement statement sets that are different from each other. In one of the statements, the accurate property-selling price is written, which the buyer receives. The other one will depict a higher selling price that is exaggerated. When the mortgage lender approves the loan for the exaggerated price, the seller is given the amount that is stated in their copy of the settlement statement. The one who committed the fraudulent settlement statements will keep the money that is left over. If there are other conspirators, the money will be divided among them. It could be the entire excess money or a percentage of it.

Using qualification that are fraudulent is another type of real estate fraud. These fraudulent qualifications are used when applying for a mortgage or home loan to help them get the mortgage. In this form of real estate fraud, the real estate agent will usually assist the buyer. The fraudulent qualifications can include fabricating credit reports or history of employment. These two involve the obvious misrepresentation of data but not all real estate fraud is easy to see as these two examples. If buyers who do not intend to commit real estate fraud because they do not know the laws can accidentally commit mortgage fraud.

If a buyer has a down payment by using money that was given as a gift it is legal. If this gift is re-paid to the who gave the gift, this is considered a case of real estate fraud. The gift used to make a down payment cannot be repaid for it to be legal. Another type of property fraud is when the buyer accidentally fails to disclose any financial liabilities on their mortgage application. It becomes fraud when it is not taken care of before the loan is approved. Property flipping can become real estate fraud if you make false representations about the value and condition of the property when you sell it for a much higher price than you paid for the property.

 

6 Real Estate Blogging Tools and Gadgets Worth Considering

If you are someone venturing and trying luck in real estate, you should consider having a blog that speaks up about your interest in the field. Blogging is one of the greatest marketing strategies that are being taken up by various organizations irrespective of their size and niche. Whether it is a company dealing in medicines or some individual fashion designer, blogs can help get online attention and lots of visitors to one’s website which in turn provide many new customers.

Here are 6 Real Estate Blogging Tools and Gadgets Worth Considering:

1. Calmly: This is a professional text editor available online. Calmly encourages distraction free writing. Using this tool one can write, add images, and more. It gives an idea of how one’s blog will look like with all the information and pictures.

2. Hemingway App: Your blog should be readable. It should be written in easy to understand language as it will be visited by people across the globe. So, readability is one crucial thing that should be considered while writing a blog. Hemingway App is one tool that can help analyze your blog for readability. The tool highlights the text that might be difficult to read and even suggest solutions improve the readability of the blog.

3. Irfan View: This is an amazing image editor. If you are planning to start a real-estate blog, you might need to upload a number of images to showcase properties, buildings, and localities. Such images are quite heavy in size and may take hours to upload. Using Irfan View one can edit images to reduce the size of the image.

4. Co Schedule’s Headline Analyzer: Headlines are the first thing that catches the attention of online visitors. If your blog doesn’t have an attractive headline, the chances of it being left aloof or ignored are more. The Co Schedule’s Headline Analyzer helps one analyze the headline and it suggests changes that may make it more interesting to read.

5. Piktochart: This is an info-graphic app. It is easier to inform someone through infographics as it saves one time from reading the entire post. Online visitors hardly spend more than 5 minutes on a web page. The Piktochart can come handy in conveying the message within a fraction of seconds. This tool although takes some time to create info-graphics, it is worth considering for your real estate blog. Using the tool, you can create graphics conveying information about the place such as the society, schools and shopping complexes near the property.

6. Canva: A blog with amazing graphics can help your blog stand out among the competitors. Canva is one blogging tool that allows its users to convey their message through graphics. It is an easy to use the tool and does not require any technical qualification to use it. The graphics designed by Canva can be shared on social media as well.

The internet has made our world appear so small that we can do almost anything while sitting in front of the PC/laptop screen. This technology has proved quite beneficial specifically for the real estate industry. The internet has helped us create a virtual world of our own where we can imagine ourselves in a home that we always dreamed of living.

How Gurgaon’s Real Estate Can Gain From Their Budget in 2017

Gurgaon – a big player in India’s real estate sector – has been grappling with difficult times especially since 2015, and in 2016 the sales volumes for properties in Gurgaon further went down and new unit launches were limited in the city.

Further, demonetization during the end of 2016 further affected developers in Gurgaon like in the rest of the country. There was stability noticed in quoted prices and discounts were still available, but people stayed away from buying residential flats in Gurgaon. Gurgaon saw a fall in investment in the residential properties as residential buyers, much of whom were primary end users were on the lookout for ready-to-move-in flats and were wary of promises of future infrastructure or property. Overall, Gurgaon’s market saw a great dip recently.

With the new budget placing affordable housing under the category of infrastructure, the government plans to get closer to its goal of providing affordable housing for all by 2022. This newly-granted infrastructure status also makes available cheaper funding options from real estate builders who can now access funds at a borrowing rate less than 10% for developing affordable housing, leading to a subsequent and definite reduction in purchase costs for homebuyers.

About 95% of the demand in the real estate sector has been of affordable housing. With reduced borrowing rates, the real estate developers can now focus on constructing housing projects where a major demand lies, and look forward to a healthy growth in this segment.

The budget has benefitted the end users the most. With enormous tax benefits offered to people in the lowest income bracket as a significant tool to push affordable housing, the dream of many to own a house now seems to get closer to realization. Also, with demonetization, banks have been further flooded with funds, and there are speculations that banks will low interests rates further and come out with affordable and attractive home loans. Future homebuyers have been watching the market carefully.

As a real estate market, Gurgaon has great chances of recovering from the downtime in the recent past. One of its driving strengths has been its ability to churn out high-quality office spaces, and now while building on this strength, if developers in Gurgaon prioritize constructing and launching ready-to-move-in affordable housing projects that end-consumers place high value on and subsequently reward, then Gurgaon will soon rise up as a strong real estate provider meeting the housing needs of its residents.

Residential Flats in Gurgaon

Signature Global is a reputed name in the real estate sector in India. In Gurgaon, Signature Global is already constructing five housing projects under Haryana government’s affordable housing policy, is all set to invest Rs 500 crore in two more projects of affordable housing in Gurgaon.

 

Real Estate: What You Need To Know

People generally get confused with the term real state and real estate Business. Real estate itself is not related to business as it represents a property of land and building that too, including the natural sources, such as flora, fauna, crops, parks, pools etc. that are immovable and lies in the property’s premises. Whereas real estate business is the profession of selling, buying or renting these properties.

Real Estate Agents

It’s a tough task to match the needs of buyer and property sellers, as buyer may not get his dream property and at the same time the seller also may not get the price of his wish. To establish a good connection between buyer and seller and to find the right buyer for a seller and vice versa, Real Estate Agents can be hired that are easily available in the market. Real estate brokers or agents are the ones, who acts as an intermediate between property buyer and seller and tries his level best to match their demands. Buyers for buying and property owner for renting or selling their property get in contact with the agent. The agent listens to their demands and try hard to fulfill them, for a property sold or rented in his supervision, the agent charges some percent of the price of that property from both the parties, i.e. the owner and the buyer. Agents use websites to promote the sale of properties, often work at nights and weekends busy in showing properties to buyers.

Things you should know about Real Estate Agents

Although agents are such a bliss to those who are struggling to get a property or a price of their interest, but we have to be wise when it comes to choosing an agent. Agents are not bound to show you best properties or tell you all the things they know, they might get greedy sometime and show you properties that are going to profit them more than you. On the other hand, for property owners they might end up, leaving you with paying guest that can trouble you in future, in fact, as the general goal of an agent is to sell the property as soon as possible, they may excite you and ask you to sell your property at comparatively lower prices than that you expected, and would be getting after some days. It’s better recommended to choose your agent and the other party to buy or sell wisely, after taking your time, and not to get excited on every other offer you get.

New Real Estate Business Mediums in market

Now-a-days many online sites and applications have been developed to remove the work of agents. Both the parties contact with each other directly and choose the deals of their interest. Though, this move has increased the transparency between both the parties, but because of being fully online, may result in misleading each other. That’s why it is highly recommended to see the property in person before booking it. As the thing that seems to be good and satisfying online can be completely opposite from that what you will be getting in real.

Real estate business has expanded rapidly all over the world, many agents and online sites like Trinity real estate are there to help property owners and buyers in hernando county property to get the deal of their interest. The only thing to keep in mind before buying trinity homes is to stay calm and be sure about your needs.

 

REAL ESTATE: Something You Might Want to Know

Real estate means the property consisting of land or buildings which also includes the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals, simply speaking any improvements on it. Tenants and leaseholders may have the right to occupy or make use of anything that is within the dominion of the rented area depending on the terms and conditions set by the landlords.

However when we hear the words “real estate”, we often refer it to the “real estate market” from the perspective of residential living. This is grouped into three categories based on its use. It’s either be residential which is used for living purposes, commercial as used in commerce and industrial which is used in manufacture or production of goods. Residential are those undeveloped land, houses, condominiums and townhomes. Commercial are office buildings, warehouses and retails store buildings and examples of industrial are factories, mines and farms.

Those who are buying a home often need to borrow money in the form of mortgage because prices are generally well above their savings. They can either avail of fixed-rate or variable-rate.

Commercial leases are mostly longer that residential and lenders may ask for higher down payment on a mortgage for commercial than home loan since generally residential real estate is usually less expensive so it is more affordable for small investor

Generally, this is affected by the primary condition to where the property is located. Profits or losses come through revenue from rent and appreciation of the estate’s value. There is also risk of tenant turnover especially if the business model is in bad condition, product is unattractive, or poor management and many more. So landlords, lessees has to make sure all is well set before lending the area/place.

Real estate can help you earn more especially if you are in hand with generating leads and setting well the properties in case you are into selling or offering rentals. You have to make sure you will be working more of what you invested. Usually property appraisals are of good and or high value, you just need to work on it. You must always and consistently putting your client’s best interests first. With that, your personal needs will be realized beyond your greatest expectations. Investing in this even on small scale, was tried and tested as true means of building an individual’s cash flow.

 

The Real Estate Resurgence of Glassell Park and Highland Park

Real estate in Northeast Los Angeles has been booming for years. We hear about it on television and in the news. Rarely does a news story get published where the term “Gentrification” is used to describe areas such as Eagle Rock, Mt. Washington and Highland Park, regions where home values have spiked. Is it something homebuyers and home sellers need to know?

By definition, “to gentrify” is to improve a house or district so that it conforms to middle-class taste. The middle class, or Bourgeoisie, is attempting to emulate upper-class standards. In the U.K., the gentry refer to people of high social position, specifically the class of people next below the nobility. Therefor the gentrification of an area is a process whereby those of lower socio-economic status are forced out of a region in order to make it more attractive to the people of higher socio-economic standing. Taking deteriorating inner city homes away from working class families to be renovated and sold to the privileged is also known as progress, or gentrification.

That is precisely what is occurring in the once run down neighborhood of Highland Park. This ongoing restorative transformation has helped to eradicate crime and strengthen the local economy. Juice bars and yogurt shops have sprung up in place of derelict Laundromats and liquor stores. Local businesses are now thriving, where the windows were once boarded up and car carcasses rusted.

Nowhere is this more evident than in the Northeast Los Angeles neighborhood of Glassell Park, where police not long ago bulldozed suspected gang homes in a dramatic crackdown on crime. Soon after, investors began investing in fixing up Glassell Park’s hillside view homes and property values began to rise with new shops and restaurants appearing in direct proportion.

At one time, Eco Park stood as the poster child for gentrification in Los Angeles. This forgotten slum went through a complete metamorphosis in the 90’s, turning it into one of the most sought after areas east of downtown. With Echo Park as a model, the restoration movement has continued its march east, rehabilitating other areas, such as Highland Park and Glassell Park, with great potential.

One telltale sign of the up and coming neighborhood is what is known as the Starbucks phenomenon. If this “7-eleven” of coffee houses has chosen to plant its green lady logo on the block, you can bet your bottom dollar that the ‘Hipsters are coming’or more likely, the Hipsters have already arrived. This of course means that property values are climbing. In the historic region of Highland Park, York Boulevard is now bookended by Starbucks. Having a Starbucks on the corner is clear evidence that a moneyed community is on the rise. The values of homes for sale in Highland Park are absolutely exploding.

Another way of measuring affluence is by exploring the high volume of trendy restaurants, bars, and art galleries not to mention the cafes populated by too cool for school patrons everywhere. This enclave has become a hot spot for exotic dining among foodies and the like. Good eats just seem to go along with gentrification. That is one of the advantages. Today you can find French, Italian, Japanese, Vietnamese, and a wide variety of Vegan food in this once neglected district. It has become an amazing multi-cultural mecca. One more example of economic growth is improved public transportation. Business people can commute from paradise to downtown by train in a matter of minutes.

The median price for a house in Highland Park is now approaching seven hundred thousand. In relative terms, this area is still a bargain in Los Angeles’ exorbitant housing market. As the beautification of these older neighborhoods flourishes in NELA, the real estate naturally becomes more desirable and the property values escalate.

 

Altadena Real Estate – A Look at the Numbers

The real estate market in Altadena, CA is red hot. Homes for sale in Altadena command high prices and never stay on the market very long. Why? Both realtors and residents will answer that by stating: Altadena is a very special place to live, work and relax.

Altadena is charming community located directly north of Pasadena at the base of the Angeles National Forest San Gabriel Mountains. Altadena is an unincorporated and 14 miles northeast from Downtown Los Angeles. This warm, Mediterranean climate has hot and dry summers that average highs of 91 degrees. The winters are essentially warm and windy with the lowest average temperature of 44 degrees. Altadena averages 21 inches of rainfall annually.

According to the 2010 U.S. Census – Altadena had a population of 42,777 people. With 8.71 square miles to share there were 4,909.6 people per square mile. This is average for Los Angeles County. The population was more diverse compared to other areas of the county with the dominate ethnicity being White at 52.8%, followed by 26.9% Latino, 23.7% Black, 5.4% Asian and 0.7% American Indian.

The population of Altadena is well educated in comparison to the rest of the county with 45.6% of residents aged 25 and up with a four year degree and 87.9% with a high school diploma. In regards to the male population: 57.8% were married, 32.9% had never been married, 7.1% had been divorced and 2.1% were widowed. The female population had53.9% who were married, 24.4% had never been married, 12.4% were divorced and 9.4% were widowed. The average age of Altadena was 37, which is an older average age compared to the rest of Los Angeles County. 9.8% of the people in population were veterans and 20.8% of residents were born in a foreign country. The average commute to work was 27.5 minutes. Altadena has a Walk Score of 48 out of 100 meaning that it is a car dependent city.

The average household size was 2.8 people, which was 9% higher than the national average. Approximately 74.6% of residents owned their homes. This was 10% higher than the national average. 25.4% of the population rented from a house, apartment or condominium. The 2010 Census declared there being 15,518 households with a median household income of $83,917. This is high compared to Los Angeles County.

Altadena real estate isn’t cheap, however. The median price of homes for sale in Altadena is $780,000. This is 226% higher than the national average. However, the average home value is $731,400. The price per square foot is $485. The current housing market “temperature” is neutral. Last year the home values increased by 8.1% and Zillow predicts they will rise only 1.9% within the next year. The average monthly rent is $2,921. This is 53% higher than the national average. The current housing market health is 6.9/10. This is healthy score given by Zillow in comparison to other housing markets across the country.

According to Area Vibes, Altadena has a livability score of 77 – extremely livable. This is higher than the national average of 70. This comfortable, safe community will continue to flourish and grow and produce beautiful homes by its affluent residents. If looking to buy or sell real estate in Altadena, make certain you perform your due diligence and find an experienced realtor who specializes in the area.

 

Echo Park Real Estate: A Look at the Numbers

From LA’s earliest days, people have wanted to live in the storied neighborhoods of NELA. In a densely populated area where residents are always in the process of coming and going, there are always homes for sale in Echo Park at any given time. Since the early 1920’s, the real estate here has been in demand and that is how it is today. Why? Let’s take a closer look and see what the numbers say.

This is an eclectic city located in Central Los Angeles about ten minutes from Downtown. At the center of the city is the renowned Echo Park Lake in Elysian Park, which is the site of special events like the Lotus Festival. It is northwest of Chinatown and Downtown, northeast of Westlake and south east of Silver Lake.

It is split in to four districts.

• Angelino Heights – This area is known for the beautiful Victorian homes that are preserved by the city’s ordinances.

• Elysian Heights – This area is historically known for being the home of famous counter-culture artists, filmmakers, architects and political radicals.

• Historic Filipino town – This section is located in the southwest section.

• Victor Heights – A lovely area scattered with Bungalows and Stucco homes that share breathtaking views of Los Angeles and the Civic Center.

Throughout the four districts, the most common types of homes are Bungalows, Cottages, Victorians and Stuccos. According to the 2000 U.S. Census there were 40,455 people in there. Spread over 2.4 square miles there were approximately 16,868 people per square mile. This makes Echo Park one of the highest density areas in Los Angeles County. The median household income was $37,708, which is low for Los Angeles County. The average household size was 3.0, which is average for the county.

This city has a high Walk Score of 83/100. This means that most errands can be accomplished on foot within the city. This city’s transit score is 62. This city has good transit and provides its residents with many public transportation options. These include the Metro Red and Metro Purple Line, numerous bus routes and ride sharing options from Relay Rides. This city received a bike score of 49 because of the steep hills and minimal bike lanes.

According to Zillow, the average home value in Echo Park is $795,100. This value has increased 14.4% since last year and Zillow estimates it will continue to rise 4.3% to $829,000 over the next year. The average price of homes that are currently listed is $742,450. The median list price per square foot is $618, which is higher than the Los Angeles average of $451. The average rental price is $2,967 a month. Zillow has given the Market Health a score of 8.2/10, which is very healthy in comparison to other markets across the country. This is based on a series of metrics including how fast the homes are selling compared to the past rate. Echo Park’s prime location and thrilling culture will be sure to keep the housing market rolling for many years to come.