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A ‘Realty’ Check: The real estate scenario

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  1. Introduction
  2. Selling through FSBO
  3. The advantages and disadvantages of FSBO
  4. Purchase through FSBO
  5. Pertinent questions to be asked before taking a home loan
  6. Being a real estate agent
  7. The internet as a great tool for real estate sellers and renters
  8. Tips to ensure a smooth home inspection and a favorable report
  9. Making a property portfolio
  10. Steps to avoid situation arising out of negative equity
  11. Getting started to investing in real estate
  12. Handy tips to get the best home loan
  13. Steps to protect property from misuse by tenants
  14. Tips for choosing a real estate agent
  15. Conclusion
  16. Bibliography

We all know how volatile the real estate market is yet we all are lured by the real estate market in some way or the other. Either we enter the real estate market as a buyer or as a seller or may be as an investor and in some cases with the intent of making it big in this sector. However, most of us are a bit wary about the real estate in general-especially after the sub-prime crisis and the global melt down. However, if we observe study and understand the real estate, it is not that bad a place and in fact is a great place to make a career and a living. Even if you are here just to sell a property or to buy one?it will help to understand the nuances of the real estate market. This article aims to demystify a lot of jargons and simplify the issues and concerns associated with the real estate market.

The topics covered here include almost everything one needs to know about in relation to the real estate segment. However, the sector is a very large one and encompasses a gamut of issues that cannot be covered at one go. I am sure however that after reading through the sub topics a seller, a buyer, an investor or even a prospective career hunter will find the real estate to be a fascinating place that is not as unfriendly as it is often made out to be.

If we learn the nuances, understand the legal implications and use our common senses, the real estate market can help us achieve our objectives easily. We must however make it amply clear that this is not a place for gambling and neither is this a place where you can be lucky every time. One has to be cautious and prudent to play the surviving game in this very volatile segment. Like all segments, this has its upheavals and downturns and the trick lies in riding the wave and waiting out the ebb.

[...] The owners and buyers are not professionals and hence may not be aware of the fine prints involved in a real estate transaction with regards to tax implications and local civic laws. It is advisable for buyers to take adequate precautions before inking an FSBO deal. A buyer must do a comprehensive check regarding mortgage or other financial implications involved. A potential buyer must ensure that he has done a thorough market research of the area where the property is located along with that of the neighborhood. [...]

[...] Sell through FSBO FSBO, which is the acronym for for-sale-by-owner, is a real estate transaction that allows the owner to sell his property directly to the buyer without the help of agents. FSBO, pronounced is in essence a concept that eradicates agents and intermediaries in the process of selling a property and therefore reduces the cost of the entire deal. This is the most obvious advantage of selling a home FSBO. A realtor often charges to as commission, which can be immediately done away with. [...]

[...] It is always recommended to exercise caution and prudence instead of being too bullish in the real estate market just as in case of the stock market to avoid making a purchase when the market is trading its highest peak. The third point to consider is the rebound of a particular segment. One should spend adequate time to study the statistics available and understand which sectors in the real estate market tend to rebound faster when compared to other sectors when the economy and the market witnesses an upswing. [...]

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