Real Estate

Archive for March, 2011

Gallops Of The Indian Real Estate

The three words Liberalization Privatization and Globalization have completely changed the face of Indian Real estate Industry. The realty sector in India has now moved from being a location specific to being a reputation specific. The feel good factor prevalent in the realty business is also helping get a number of foreign investors who are ready to invest big bucks. This has led to what is known as the realty industry boom in the country. The real estate business is slowly gaining reputation of one which returns big bucks and is riskfree.

With more and more foreign players investing in the real estate business there has been no dearth of capital for future constructions. And this capital is very important from the point of view of infrastructural development. Also government is taking various steps to ensure that this capital flow does not stop. Hence in 2006 government passed a law which allowed hundred percent FDI in the construction and development sector. This measure taken by the centre has only helped in the increase of rate of fund inflow.

According to the tenth fiveyear plan formulated by the central government the Indian Real Estate sector requires an investment of Rs 1108800 crore approximately. Rs 1 72000 crore has been set aside by a committee headed by the Prime Minister for the development of national highways. Also it has been estimated that in the next five years the total amount of Foreign Direct Investment FDI which the country will attract in the real estate sector will cross the 150 billion mark.

Knight Frank global real estate consulting group has put India in the 5th position amongst the top thirty emerging retail markets in the world. The survey has also predicted a 20 growth in the organized retail sector by the year 2010.

Thus it won’t be wrong to say that the Indian Real Estate Industry is staring at a major revolution. And what is heartening to see is that the revolution is not only happening in the cities but is starting to grip small towns as well as villages. There are many villages which have been converted into technological hubs in last few years. Also the growth of the Indian realty sector has been multidimensional. Hence there has been equivalent development in all the areas be it residential or commercial or logistics. Also the boom of the realty sector has been given fuel by the fact that loans are available quite easily now days. With new concepts like bad credit loans etc emerging getting a loan today is just a matter of filling out a few forms.

The face of the Indian realty industry is changing very fast. Old is gone and it is the new which is catching everyone’s eye. And this is where our website www.RealEstateSitesIndia.com comes into picture. Be it a metro or a village the site has the listings of all the realty sites in the country. You name a site and you have its links ready in front of you.

About the writer:  George Gonigal provides you the best and latest information on India Real Estate If you want to Pune Builders he suggests you log on to magicbricks.com

Four Ways To Avoid Foreclosure

Along with the economy and the financial sectors the housing market is in a free fall and home mortgage lenders are tightening the purse strings. In the foreseeable future and recent past experts estimate nearly three to four million people 1 will be unable to avoid foreclosure and will lose or have lost their homes due to the current recession. These are alarming numbers especially when coupled with the fact that this statistic is projected to pass the number of homeowners who lost their properties during the Great Depression.

But is foreclosure always necessary? Could today’s homeowners if prepared with the right kind of knowledge avoid foreclosure? The answer is a resounding yes in many cases homeowners with a little foresight can work with their home mortgage lenders and often avoid foreclosure or stop it from occurring in the first place.

Work with Your Home Mortgage Lenders

Whether you’re struggling or you know someone who is there are alternate means to avoid foreclosure. Begin by speaking with your lender to see what he can do for your particular situation. In most cases home mortgage lenders and/or lending institutions can work with you to get better rates or help you make your payments in a timely fashion.

Below are four services that home mortgage lenders and institutions routinely offer to their clients. And with a little anticipation you can avoid foreclosure and prevent it from happening in the future by being more informed and armed with some tricks of the trade!

1. Refinance This is one of the most common activities to avoid foreclosure in the mortgage industry in which the homeowner tries to decrease his interest rate by paying off the actual balance on the mortgage. This is possible by creating a new mortgage with a different lender for a lower interest rate with the possibility of paying off the actual mortgage and consolidating other debt such as credit cards auto loans student loans or home equity loans in order to make just one monthly payment.

2. Loan Modification Generally offered by home mortgage lenders or even the homeowner’s financial institution loan modification is made to either the rate or the balance of the mortgage. This happens when home mortgage lenders change the interest rate or the balance on the mortgage in order to decrease the amount of the monthly payment. This is one of the simplest processes to reduce monthly payments and avoid foreclosure because it’s done by the current lender meaning the paperwork is minimal and there are no closing costs which is ideal in those situations.

3. Repayment Plan This service is only offered by home mortgage lenders to homeowners who are delinquent on their monthly payments. With this process home mortgage lenders will add a portion of the past due balance on the mortgage to the monthly payment in order to pay off that late balance in a shorter period of time without paying extra interest. This option is generally offered to borrowing homeowners who have experienced a significant loss of income or an increase in living expenses but still have enough monthly income to correct the delinquency and reinstate the loan. Repayment of the loan must occur within the duration of a scheduled monthly plan which can be achieved either through gradual repayment of the delinquent amount or through both repayment and loan modification.

4. Short Sale With this process home mortgage lenders and homeowners agree on selling the house for less than the balance on the mortgage in order to pay off the debt and avoid foreclosure. These circumstances are usually related to the current real estate market and the borrower’s financial situation. A short sale is typically executed to avoid foreclosure and prevent subsequent damage from appearing on the customer’s credit score for years into the future.

Have a Plan in Place

Take your future into your own hands! Oftentimes simply knowing the steps of how to avoid foreclosure can be successful in preventing a problematic state of affairs from escalating by making efforts well in advance to remit or resume payments. This is a sticky situation you want to avoid at all costs a foreclosure remains on your credit report years down the road and can significantly harm your credit score to the point where it may be difficult to purchase a house ever again.

Your lending institution wants to help you avoid foreclosure keep your home and for you to stay in it. Be proactive and above all be armed with the necessary knowledge to save your home and property!

Sources

1. http://www.virginia.edu/uvatoday/pdf/foreclosures_2009.doc

About the writer:  Neil A. Terc is the president of YourKasa.com a unique interactive website that lists real estate properties from both realtors and homeowners. Terc created the website to offer advice and discuss the common challenges that face new homebuyers and sellers. For the last seven years he has been purchasing selling and leasing properties and is a selftaught real estate professional. To see some of the website’s real estate listings online visit www.yourkasa.com.

For Sale By Owner A Growing Trend

In the recent past more and more for sale by owner properties are being listed in the market and it is tough time for the real estate agents to sell properties at high commission. The sale of properties through real estate agents has come down and the prices of the properties are also showing downward trends. More and more house owners are looking for alternate options of selling their properties and FSBO forsalebyowner seems to be the best option.

FSBO is therefore a growing trend in the real estate market and it is the best option for you to sell the property without paying for the realtors commission. For sale by owner properties are therefore economical for the buyer also as the buyer saves a huge amount which otherwise would have been paid to the real estate agent. FSBO property requires some sort of advertising so that more and more prospective buyers see your property and visit you for a negotiation.

For sale buy owner properties arent easy for a seller as you must have some marketing skills so that more and more perspective buyers approach you. You need to advertise your FSBO property at suitable sites so that more and more visitors see your property easily. People want to see your property by just clicking their mouse so it is mandatory to put photograph of your forsalebyowner FSBO property at as many sites as you can so that people from around the corner see it while sitting in front of their computers.

Although it is not an easy task to sell your FSBO property however you should be optimistic and should use the latest techniques so that you get the maximum profit from your forsalebyowner house. More and more people in real estate market are now coming forward and would like to sell their for sale by owner property themselves. So if you are also an owner of a house you can also take opportunity to sell your house through FSBO and get the maximum advantage of the vibrant real estate market.

About the writer:  PostYourPad has the most listings on the Web for homes under 500k.Sell homes with 0 commission and deal directly with serious home buyers.Buy or Sell Your Home at 0 Commission.