Kentucky Real Estate Business

Posts Tagged ‘California’

Are you thinking of vacations in USA especially in California? California is considered as one of the most beautiful places, in the entire USA, to visit. This means that there is a good chance that you are interested in scheduling your next family vacation or romantic getaway there. So, don’t get worried about the funds, we “California Beach Resorts” are always equipped to entertain you at very reasonable rates. We provide finest Collection of Unique, Exclusive, and Exquisite Luxury California beach home rentals , hideaways, Villas and Estates located all along the California Coast.

Vacation rentals for California beach homes starting at $99.00/Night! California Beach resorts offer a wide range of accommodations. We are the only Reservation specialists that provide Luxury Beach home accommodations by the day, week, or month, throughout the calendar year!

California Beach Resorts is currently sponsoring a “Win a FREE California Vacation Getaway”. Just enter your information here at http://www.californiabeachresorts.com.

So what are you waiting for, just visit our website http://www.californiabeachresorts.com or contact us at our Toll Free 1.888.98.BEACH for more information.

Financing Land in CaliforniaCalifornia Land Loan Overview:The intent of this article is to get you thinking in the right direction so you know what kind of California land to buy and what you can reasonably expect as you get started in the process of dealing with a land lender in California.California Land Financing Budget (Example):Land Purchase Price  $300,000 Land Purchase PriceSoft Cost of Construction  $ 40,000 Plans and PermitsHard Cost of Construction  $350,000 Construction CostsClosing Costs  $ 22,000 Fees, Title, and Escrow. 5% Misc. Reserve  $ 17,500 5% of Construction CostsLoan Interest Reserve  $ 35,000 Interest On Amount DrawnTotal Building Cost  $764,500 Appraised Value  $800,000 Estimated Value of Land with Building CompletedDown Payment  $191,125 25% of $764,500Benefits of California Land LendersLoan officers dealing with California land should be able to assist you with the following information:1. Assessment of the estimated yearly taxes, insurances, and HOA fees. 2. Approximate interest rate for the loan. 3. Down payment required. 4. Interpretation of your personal financial statements, credit scores, and income-to-debt ratios to conclude your eligibility. Utilities Lead to the Path of FinanceOne important thing to consider as you look to buy California land is utilities. When construction developers go into the construction stage to build new homes in Southern California then roads and utilities are built for a large number of homes. When the lender knows that a lot has public road access and utilities nearby they are often more willing to supply financing for the land because there is a foreseeable capacity to build on it which increase the California real estate worth and lowers the risk to the lender. The cost of installing utilities on a lot is not considered part of the hard construction costs for building. Land Loans from a California Lender’s POVCalifornia land loans are more risky to lenders than residential loans. The reason for this is that normally most people do not live on the land they buy since it’s vacant. As a result it is industry practice to not consider land a primary residence until something is built, and so it follows that vacant land is called investment property even if a person intends to build on it in the near future. Also, vacant land is called commercial property in California, that is property used for an investment purpose, even if the land is zoned residential and there are plans in place to build a primary residence. The importance of this categorization for lenders is that their risk increases on lending for land because a person can walk away from a land loan easier than a loan on a primary residence since the borrower has another place to live hypothetically.Lenders for land will expect more from a borrow than on a residential home loan. There is a larger down payment expected typically than a California residential house or condo. There is more preparatory work expected also. Lenders may expect the borrower or buyer to bring a variety of items to the lender’s table for a construction loan. Here is a partial list of potential requirements some lender’s stipulate in order to obtain a land loan: 1. Complete and permissible architectural drawings for what will be built on the land. 2. Detailed time tables for all aspects of construction. 3. Finalized realistic budget for the building. 4. Supervisory chart, including a list of builder contact information for contractors and the architect assigned. 5. Proof of bonded and insured builders and contractors. Here is a list of the paperwork required from a borrower to get started on a land loan in California:• Last 2 years of your federal income tax statements. • Last 2 months of pay stubs for both you and your spouse with contact information. • Your property information if you currently own including tax statements, HOA statements, any current mortgage statements, and any other debt statements you currently have. • Any additional proof of income streams, including child support, trust fund, investment income, dividends, interest, rental income, social security or government monies. • A complete list of your bank accounts and documentation, including all your checking, savings, money markets, and banking information.

Conclusion: Some Negatives and PositivesOne draw back is that the courts of law in California have less regulations to protect the interests of land buyers than they provide to California residential home buyers since a land purchase is considered an investment. On the positive side, land is like having a clean slate of property. California land buyers have a much easier time when it comes to planning what they want to build, as long as the building plans live up to the regulations and zoning requirements of the city for the land’s location. As a land buyer CA you also have much more flexibility on getting what you want than doing a residential home remodel for example. The best part of all about obtaining a loan to buy land in California is that it forces you to think through the land buying process ahead of time, talk to the right people which you will need to help you build a new home in Southern California and make a financial budget with sensible deadlines so that ultimately you can become a true player in the future development of a community for all to see. Plus you will have a really cool story about your personal experience in the timeless process of building on California land.

With the strong and mighty Canadian dollar soaring and the turmoil and foreclosure rate in the California housing market continuing, there are great buying opportunities out there for Canadians. Although buying in the US may not present the best speculative opportunity, if you like the area you are looking at and feel you’d like to live there, than seize the moment to successfully low ball on a property. You may save yourself hundreds of thousands. These are the days for Canadians to make things happen– to buy in the beautiful state of California and to, “love where you live, and live where you love”– and at not so pretty a penny as in the past.

Before buying into the market in California it’s important to understand that it’s possible to get a much better price than what many properties are listed as. Yes, it’s possible to take the 2006 assessed value of a condo property and to offer half and actually make a deal! Take note that Florida and other sunbelt properties, such as Arizona, were in dire straits one year ago, well before the sub-prime scandal killed values. Also keep in mind that with so many foreclosures, prices are bound to continue to plummet, so, depending on where you’re bidding, there is really great opportunity to drive a hard bargain and to make out like a bandit.With transactions these days, listing prices are truly just a starting point.

Of course, be mindful that if the property in question is not to be your primary residence you will pay much higher taxes. Get a comparison of tax property tax rates and look into the U.S. capital gains taxes and estate taxes that are applicable to foreign owners of U.S. property. Also, rental properties held by foreigners must file separate annual tax returns. The best way to avoid rental taxes is to rent to Canadians or other foreigners, and to take the income back home. Take all these extra taxations into consideration as you conceive your offer and it’s upper limit.

Another important consideration to factor in is insurance. Older properties that are on low-lying ground on or near the ocean or intracoastals are often subject to high insurance premiums. Factor these in as you design your offer.

All in all, now is a great time for Canadians to make some steals of deals in Florida and other parts of California.

Step 1: Choosing the Right Agent
“A skilled negotiator can save you time and thousands of dollars.”
Roy Kirkendoll, National Institute of Real Estate Sales Counselors

A buyer’s agent represents the buyer who buys property. It used to be before the buyer’s broker agreement that the buyer agent would contract with the listing agent and seller so that both agents were representing the seller by contract. This happens when you go out to look at homes with agents who have no signed buyer broker agreement with you. The buyer agent without a buyer broker agreement is therefore obligated to the seller and listing agent’s terms on price and important negotiating points. The California exclusive buyer agent on the other hand represents the buyer exclusively, giving the maximum negotiation power and best deal to the buyer. That is why you always want to sign up for exclusive buyer representation when you decide to buy property. Exclusive buyer agent JR Middlebrook has kept hundreds of buyers from making bad decisions. For example, one condo brought to me by my buyer was listed at $316,990 in Southern California. The listing agent said the lowest price the seller’s would accept was $310,000 and my buyer might have offered that. Then I helped the buyer see that other condos in that same complex were only worth $300,000. I saved the buyer thousands of dollars because I was there to represent ONLY my buyer. Hey buyers, you can get a house for FREE!
That’s right, JR Middlebrook’s services are FREE and my California real estate agent experience includes a laundry list of only the best skills and tools to save you money and close your deal from California realty companies Keller Williams, Remax Century 21, and All California Brokerage. Do you want a realtor like that working for you? It’s FREE! Click here to sign up with Agent Green JR Middlebrook and get your breathtaking home today!

In spite of all the disheartening reports we have heard singing the California real estate blues, this sunny state has finally turned a real corner! The realty market in the State of California which took so much of a beating over the last year is finally winning the battle. For over two years, published statistics have shown decreasing sales, but now an increase in single family homes has finally been recorded. The sales-volume figures of April 2008 have shown a two point five per cent increase over the same figures for April 2007. Properties in Orange County show that seventy five per cent of areas have experienced increased transactions over April 2007, in spite of the fact that single family homes and condo property prices have risen in the majority of these sought-after areas. Added to that, two of California’s cities have grabbed the top two places in a 2008 survey on the ‘Best City for Home Sellers’ list. This list has been compiled by Forbes magazine and it names San Jose and San Francisco as the number one and number two spots respectively. This is pretty encouraging considering these California cities were up against such giants as Austin Texas, Seattle Washington and San Antonio Texas, all of whom were placed in the top ten.According to a spokesman for the California Association of Realtors many of the buyers who have boosted the sales figures are first time buyers who are searching out houses in the low to middle price range. A compelling factor in the increase of sales is the fact that many home owners have accepted that the price bubble of the past was an unnatural increase which artificially pushed up house prices. Many home-owners have brought their asking prices back down to reality. Certainly this has been the case in Monterey County where many homes have reflected well over a thirty per cent drop in their asking price. In this high end realty market this brings the average house price to less than half a million dollars, and sales have increased there by sixty five per cent. In the case of the ‘Best City For Home Sellers’ list, which San Jose and San Francisco topped, other factors came into play. In order to assemble their list of the top ten, Forbes investigated several aspects of each city, including construction start ups, job creation, the tightness of the market, unsold inventories and home vacancy rates.Another factor that has lately become more relevant was also analyzed and this was the effect of the tighter restrictions that have come into effect on lenders.It is an accepted truth that California seems to be a known trendsetter for the rest of the USA; let’s hope this proves to be the case once again.

We keep hearing about dropping house prices, and of course we know it is true. But the fact is that prices in California have dropped so much that you should consider grabbing up a bargain for yourself.

Recent reports have shown continuing increases in foreclosed houses and several western states are among the top ten states for foreclosure filing. These include Nevada, Arizona and California, with southern California showing an overall majority in that state.

It is unfortunate for the rest of the housing community that you do not need to go into foreclosure to have the value of your property decreased. In fact, as the Governor of California said, “…foreclosures don’t just hurt homeowners, they have an effect on all Californians through the economy and our state budget.”

California has been affected more than any other state by the sub-prime mortgage crisis. When easy credit became available many people took a chance on following their Californian dream and large numbers of homes changed hands at the height of the real estate bubble.

The bubble ended about a year ago, when prices peaked. At that time, the median price paid for a house was $484,000. According to an online data company that has been tracking local conditions, the same house would have declined to $402,000 by the end of 2007 and is still going down.

Their latest figures show that the median price for a home in January 2008 was $383,000; this same home would have been sold for $462,000 in January 2007.

Equity losses have varied according to specific areas, but a 20% loss on a house price in the last year is not an outrageous figure and in some areas it is worse. Sales have reached record lows for the state, which is hardly surprising, given the realty climate. Who would willingly put their home on the market, knowing that the sale of it will represent a loss?

Almost across the board in California from Los Angeles, Orange, San Diego etc., the number of houses sold in February 2008 is roughly half the number that were sold in February 2007.

Houses are still for sale though; some people simply have to move and other people who have had their homes a long time will not record a loss. This is because whilst home prices have dropped, they have not gone lower than the 2003/2004 price ranges – as yet. Many people bought before then and therefore they still have equity profits in their homes.

Larger homes are now more difficult to buy, because the financing of so-called ‘jumbo’ mortgages has become more expensive and more elusive. Bargains to be had are more concentrated in the inland markets and in the newer suburbs.

A condo may represent a good investment at this time, as many people will also be looking to rent if they have just come through a terrible foreclosure ordeal. With a renter paying down your condo mortgage, you would be able to stay put in your own home.

If you have always dreamed of California, then maybe you can one of the lucky ones who will now be able to afford a home in this sought after state.

You don¡¯t have to read several media sources to notice that there are two

growing trends affecting the leasing and rental market. More and more renters

are searching for their next apartment online as opposed to traditional methods

and rental prices are rising as consumers choose to rent rather than buy in

order to wait for home sale prices to improve in affordability– as is clearly

evident in California where the median sales price of a home is at $560, 690.

Across the nation, the median sales price of a home is at $248,000.

According to Apartments.com, the company reported nearly 45 million visits in

2006, an increase of 20 percent over 2005. The top searched markets on the site

with the highest growth over 2005 were :

1. Chicago (214%)

2. Los Angeles (203%)

3. Phoenix (182%)

4. Ft. Lauderdale (168%)

5. Atlanta (163%)

6. Detroit (158%)

7. New York (157%)

8. Tampa (156%)

9. Orlando (153%)

10. San Jose / Silicon Valley (144%)

Note that Los Angeles and San Jose, which are cities located in California,

show a booming increase in online searchers looking for affordable rental

housing.

Unfortunately for many renters, as reported in a 2/4/07 online article in USA

Today, landlords are expected to raise apartment rents for a third-straight

year in 2007. By no means are we attempting to take pot-shots at landlords, the

objective is to give the perspective of how national rental rates compare to

those in California.

¡°With the projected rise of 5% this year, rents would be 14% higher than at

the end of 2004, the report says. From 2000 to 2004, most landlords couldn’t

raise rents because so many tenants were leaving to buy houses or condos. To

feed that buying frenzy, about 300,000 apartments were converted to condos for

sale in the past three years. Now, even with 92,000 new rental units this year,

the stock is still too little to meet rising demand.

Rents are rising because the payment gap between renting and owning remains

wide. Even with this year’s increase, the national median rent will be $943 a

month, only 60% of the median mortgage payment of $1,566.¡± In California, the

median rent is at approximately $1,400 per month which is 47% of the median

mortgage payment of $2,520.

And data from a Census Bureau report in 2000, showed that the highest rental

markets were in Irvine, Sunnyvale, Santa Clara or Fremont, all California

cities, where median gross rents all topped $1,200 a month. That was six years

ago.

California cities claimed nine out-of-ten spots on the Census 2000′s list of

highest rents among large U.S. cities. The only non- California city in the top

high-rent tier was Stamford, Connecticut, at $1,007 a month.

Ten Highest Rent Cities

Irvine, Calif. – $1,272

Sunnyvale, Calif. – $1,270

Santa Clara, Calif. – $1,238

Fremont, Calif. – $1,196

Thousand Oaks, Calif. – $1,131

San Jose, Calif. – $1,123

Daly City, Calif. – $1,074

Simi Valley, Calif. – $1,058

Stamford, Conn. – $1,007

Huntington Beach, Calif. – $ 985

Keep in mind that Southern California is a sprawling geographic area dotted

with several hundred communities, it would be ridiculous to claim that there

are no affordable rental areas; however, as a renter you can realistically

expect to pay higher rents in more desirable neighborhoods or communities

located by the coast. In order to get a good perspective on rental prices and

desirable areas to live in, conduct a few online searches and check out sites

such as Realtor.com, Apartments,com and Rent.com.

If living in the ¡°Golden State¡± is your dream, there are now more online

rental websites available with virtual tours, mapping tools and other

information, so you can shop for a California rental from your desktop.

ROSARITO, BAJA CALIFORNIA. MEXICO – Many Americans with reduced and fixed incomes are looking outside of the US for retirement and economic relief in these tough times, finding it just south of the border. Baja California, Mexico is leading the trend to cater to retirees, by offering services that appeal to the growing number of foreign residents. These services include assisted living, property and personal care among others at significantly lower prices than in the US.

US store names like Home Depot, Wal-Mart, Smart and Final, Applebee’s and Ashley Furniture are some of which are becoming more common in strip malls around the area. State of the art medical facilities equal to those on the US have been and are being constructed in order to provide quality medical care services to the growing number of foreign residents, the only difference being the lower cost.

The area between Rosarito and Ensenada just 45 minutes south of the border has become the preferred area, where developers are also getting on board by bringing amenities to these new homeowners. Calafia Condos & Villas is one of these developments, where their new tower offers more amenities and social atmosphere for people with an active lifestyle. Plus, it is pet friendly. Some of these amenities include a club house with a TV room, game room, computer area, large gym, outdoor and a private Jacuzzi. These amenities are becoming standard for new communities.

A current resident of Northern Baja, Karen Erstad says “I purchased a second home in Las Gaviotas, (an established Northern Baja community), over 10 years ago with the intent to someday live my retirement years by the Ocean”. When she decided on early retirement and make her move, her family and friends thought she was not on her right mind. Even though she would be only a 2 hour drive away, their primary concern was medical care and the question of who would look after her.

Some doctors in this Rosarito-Ensenada area are willing and do still make house calls; there are also excellent medical facilities throughout the state. Serena Senior Care is a corporation dedicated to improve the quality of life for senior residents in Baja; among their services are nursing assistance and doctor visits, which gives family members’ peace of mind. In addition, ocean front developments in Baja are largely inhabited by expatriates making them very tight communities, who look out for one another.

Karen continues by adding “I can also put my own concerns at ease, by moving to Mexico I can live the same lifestyle if not a better one as if I were still working”.

Karen is one of many Americans discovering the benefits and lower cost of in-home services that the Northern Baja region offers; furthermore, with the increased purchasing power of the US dollar against the Mexican peso they can lower their monthly expenses considerably, here is an example:

* Grocery bill around 250 dollars a month for a small family.* Cost of a movie for two people from less than 11 dollars including popcorn.* Doctor’s visits starting at around 20 dollars.* Internet Access and Cable TV from 60 dollars.* Property taxes average 300.00 dollars and up per year.* Game of golf starting at 35 dollars* Private bilingual school around 175 dollars monthly tuition* Hair Salon hair cut and color can start at around 27 dollarsEating out* McDonalds, less than 4.50 for a super size combo* Chinese food, less than 4.50 for a “lunch” (enough for 2 people)* Traditional Mexican food, complete meals from around 4 dollars.* 5 star meal starts at 20 dollars per person.

Most of these coastal Baja developments are also located just 10 to 15 minutes from the newest hospital in the area. Downtown shopping, and a 45 minute drive to the wine country, where on Wednesdays and Saturdays they offer an organic farmers market. Living in these communities Americans have the same lifestyle as they currently have back at their homeland but for much less.

Max Katz, a long time reputable Rosarito Broker says “Due to the entire housing inventory on the coast, developers set themselves apart by offering more amenities, services and discounts”. He continues saying, “Not only the newer developments are following the trends, even long time established communities such as Las Gaviotas, an ocean front community that has been a model of success for retirees over the last 35 years, are upgrading to larger gyms, creating social committees and having weekly golf and tennis tournaments”.

Clearly, relocating to Northern Baja California has become a solution for Baby Boomers and American retirees against the economic crisis. Especially for those who would like to remain closer to their families and amenities in the US. For others, is just good business.

It would seem to most people that there would be few opportunities for California real estate investing.
The state has one of the highest costs of living of all the states in the country. While this increase in cost of living keeps many Americans from moving out West, there are still some people who make the state their permanent residence.
There is constantly an influx of people moving into the state of California creating a constant demand for real estate. This demand is what keeps California real estate investing an opportunity for real estate investors.
For success in California real estate investing, investors much keep a consistent watch on the real estate trends. While there are some cities in the state that will always be popular, those cities that present the biggest opportunity for investing are always changing. Investors must pay close attention to market trends in these cities.
In California real estate investing, there are some key factors to pay attention to. One of these factors is the average days on the market for homes. This number lets investors know how long they can expect for a home to stay on the market before it is sold. If the number decreases over a period of time then the market is speeding up and it is a good time to invest.
On the other hand if the average days on hand is increasing, the market is slowing. Investors that currently hold properties should sell to keep from losing money in California real estate investing. In the case that time on the market is increasing, investors in California real estate might need to adjust the price of their homes to make sure they are selling.
Sacramento and San Diego are two key markets that are slowing. California real estate investing in either of these markets is not advised. Investors that already have these markets’ real estate in their portfolio should divest the properties quickly. The exception is if the properties are rentals rather than homes for sale. However, if the homes are intended to be sold, the best time to do so is now. Waiting to sell the properties could result in losses.
Condominiums are one type of property that never seem to lose steam in California. In most cities, even those that overall home sales are declining, purchase of condos are still on the rise. The California real estate investing market is safe for condos.
Oakland, San Francisco, and Riverside are a few cities that are safe for California real estate investing. Despite the decline in many other California cities, these continue to display signs of growth. In the past, California real estate has proven to be trendy. Residents do not remain interested in one place for an extended period of time. While investors will be able to make a profit in these areas for the time being, they should not expect for these markets to be profitable for long.
For the best opportunity for success in California real estate investing, investors should study the markets for a period of time prior to making any transactions.
Take advantage of these tips and you are sure to make good profits in California

It would seem to most people that there would be few opportunities for California real estate investing. The state has one of the highest costs of living of all the states in the country. While this increase in cost of living keeps many Americans from moving out West, there are still some people who make the state their permanent residence. There is constantly an influx of people moving into the state of California creating a constant demand for real estate. This demand is what keeps California investing an opportunity for real estate investors.
For successful investing in California property, investors much keep a consistent watch on the real estate trends. While there are some cities in the state that will always be popular, those cities that present the biggest opportunity for investing are always changing. Investors must pay close attention to market trends in these cities.
In California real estate investing, there are some key factors to pay attention to. One of these factors is the average days on the market for homes. This number lets investors know how long they can expect for a home to stay on the market before it is sold. If the number decreases over a period of time then the market is speeding up and it is a good time to invest. On the other hand if the average days on hand is increasing, the market is slowing. Investors that currently hold properties should sell to keep from losing money in California real property investing. In the case that time on the market is increasing, investors in California real estate might need to adjust the price of their homes to make sure they are selling.
Sacramento and San Diego are two key markets that are slowing. California real estate investing in either of these markets is not advised. Investors that already have these markets real estate in their portfolio should divest the properties quickly. The exception is if the properties are rentals rather than homes for sale. However, if the homes are intended to be sold, the best time to do so is now. Waiting to sell the properties could result in losses.
Condominiums are one type of property that never seem to lose steam in California. In most cities, even those that overall home sales are declining, purchase of condos are still on the rise. The California real estate investing market is safe for condos.
Oakland, San Francisco, and Riverside are a few cities that are safe for California real property investing. Despite the decline in many other California cities, these continue to display signs of growth. In the past, California real estate has proven to be trendy. Residents do not remain interested in one place for an extended period of time. While investors will be able to make a profit in these areas for the time being, they should not expect for these markets to be profitable for long.
For the best opportunity for success in California real estate investing, investors should study the markets for a period of time prior to making any transactions.

Well, there is nothing to worry. You can have all the required information regarding spending a vacation in California with in a snap of time by means of technological advancement that has dazed the whole world. With a search through World Wide Web, you can have detailed information regarding the place, its climate, places to visit, accommodations and many more. When you plan a vacation, the most crucial point is your accommodation. Here is a detailed account on how you can find the most suitable California apartments.

Usually, the apartments are located at the coast line of California to offer you a soothing effect of waves and eye catching ocean views. Abundance of museums, theme parks, shopping centers attracts a large number of tourists. California apartments are high quality in order to succumb to the senses of the tourists. You have a very good option with condos, villas, vacation rentals, as well.

The purpose of any sort of vacation is to have some peaceful, tranquil moments with your near and dear ones. And nothing else would befit the need than California apartments. You can enjoy complete privacy, far away from the hustle and bustle of city life. Additionally, you will not miss any of the events, as most of these California apartments are located nearby. You can do fishing, boating, kayaking and when you feel tired, you can move to your California apartments. Therefore, we can say a visit to California apartments promise a perfect way to repose, and rejuvenate yourself. You can return to your work with a whole new aura of energy.

For nature lovers a trip to California is an adventurous venture. Once you pay a visit to the California apartments, you will never think of residing in a hotel. The benefits of California apartments are simply wonderful. There you will have every facility that you have in your home. There is absolutely no need to take loads of clothes, as you will have provision of laundry. Besides, you will have kitchen, spacious rooms, parking facility and so on. Above all, it is far more nominal than the hotels, where you were residing till now.

You can locate California apartments, through World Wide Web. Due to ruthless competition in the market, you have a high chance of finding ostensible deals of California apartments.