Aug
15
Costa Rica Home – A Better Lifestyle for You and Your Loved Ones
Posted By: Ramon Rivas on August 15, 2010 at 11:37 pmCosta Rica is a slice of paradise that’s affordable – and buying a home in Costa Rica is easy. Let’s look at the lifestyle you could enjoy.
There are three groups of people who should consider buying a home in Costa Rica, they are:
. People who wish to retire
. People seeking a second home
. People wanting to work abroad
1. Retiring: You have worked hard all your life, and now you want a quality lifestyle – where your money goes further.
Property is up to 70% less expensive than in the southern states of the USA – and you’re just a few hours flight from the Southern states of the US.
When you live in Costa Rica, you benefit from the following:
. Property is cheaper, and so too are your living expenses – up to 70% cheaper – meaning your social security cheques go further.
. If you buy a Costa Rican home, you still get the entire infrastructure you’ve become used to in the USA – great communications, shopping, and entertainment.
. You get beautiful scenery – from rolling hills, to stunning beaches – even volcanoes!
. Buying is easy – and you get the same rights as Costa Rican residents.
. You get a more relaxed pace of life – and serious crime is rare.
. You get the comfort of world-class healthcare – at a fraction of the cost you’d have to pay in the US.
. Finally, you get some of the best weather in the world – live without the need for heating in the winter, or air conditioning in the summer.
2. A Costa Rica second home, or an investment property: A Costa Rica home gives you all the advantages of the above and many more – but buying a home in Costa Rica is not just for retired people. With more Americans than ever looking at vacation and investment property, you should consider the following:
Real Estate Values ready to Soar.
Costa Rica homes are cheap – and real estate values are growing at an average rate of 30% per year – and in many locations prices have doubled, or tripled in just a few years.
Therefore, you get an asset you can enjoy as a second home whenever you want – with prices up to 70% cheaper than in the southern US states such as Florida.
Many people are buying Costa Rica homes as an alternative buying property in the USA – it’s cheaper, and you get a fantastic lifestyle.
You get a cheaper property with better growth potential – and the added benefit of a booming vacation rental market. So when you’re not enjoying your second home yourself, you can rent it out and make a good income.
3. A Complete change: We’ve already seen the benefits of a Costa Rica home for retiring to, or as vacation home – but maybe you fancy moving, and setting up a business in Costa Rica? Well the opportunities are endless.
As more Americans and other foreigners relocate to Costa Rica than ever before, there are opportunities to set up businesses and take advantage of the new wealth being created.
Tax Advantages
The major advantage is that the Government will not charge you any tax for years – so you can get your business off to a flying start. Educational standards are high, and labour laws are flexible – so you have everything you need to make your business a success.
Consider Buying a Home in Costa Rica
It’s an affordable slice of paradise, and record numbers of Americans and other foreign nationals are actively buying, or considering buying a home in Costa Rica.
If you’ve not considered a Costa Rica home, then maybe this article will encourage to find out more – you won’t regret it!
A foreclosure auction is a place to get the best deals on homes, but you can also end up losing a considerable amount of money. The latter mostly happens in the case of beginners or those who appear for the auction before any prior preparation. The rush and fast pace of the auction will in normal cases shatter the confidence of a beginner or excite him so much that he will end up overbidding – and losing a considerable amount of money.
If one really aims to save money at a foreclosure auction, then a considerable amount of homework and research has to be done before attending the auction. A novice buyer would be wise to consult an experienced real estate agent, a real estate attorney, a knowledgeable investor or real estate mentor, and other professionals familiar with local real estate laws before making the decision to bid. The buyer will get a clear idea about the different aspects of foreclosure auction: contracts, financing, negotiating, acquiring, rehabbing and later selling these properties. This will raise the confidence level of the buyer to a great extent before attending the auction. A buyer will know the right decisions to make after doing this.
There is a great risk of wasting not only money but also time in foreclosure auctions. You might have done a lot of homework and research on a foreclosed home you are interested in, and that research leads you to decide to bid. After all that time and energy put into that property, you may find that it has been sold someone else. The group that owns the foreclosed homes also expect top dollars at the earliest point possible. From the seller point of view, they also need to recover the loss of time and money as quickly as possible. These type of risks are unavoidable and can upset a beginner, but an experienced buyer will know how and when to make the right move to get the best deal.
A bidder at a foreclosure auction must be ready to accept any and all repairs on the property. It is quite normal for a foreclosed home to be in a poor condition. You must be ready to take on all of the repairs and renovations of the property. A financially collapsed home owner will obviously have no means to mend the home that is going to be sold. There are also many cases where home owners purposefully damage the walls, floorings, and electrical appliances out of anger towards the lender because they are losing the home. But it is the buyer who is the victim of all of these problems. Quite often, the amount a buyer saves on buying a foreclosed home is lost to large scale repairs. This can actually end up causing a loss for the buyer. Even worse, in some cases the home owners will not have vacated even after the property is sold. Many of them will move after civil discussions on the matter, but some of them refuse to leave. The buyer will have to take legal action in these cases to move them out. This is yet another expense involved in buying property at a foreclosure auction..
In the end, the bidders who have done some careful research before bidding will have a greater chance of making a great deal. Bidders with the least information about the auction and the property will end up saving nothing at all – or even losing money. If you are bidding at a foreclosure auction, always make sure the property you’re buying is a deal and not something that will lead to years of litigation and heartache.
Jun
12The Pros and Cons of Buying Foreclosure Short Sales
Posted By: Ramon Rivas on June 12, 2010 at 9:37 amAre you interested in profiting from the growing number of mortgage borrowers who cannot pay their bills? If so, don’t only examine foreclosures, but short sales too. Short sale properties are ones that will enter into foreclosure soon. Before that happens, mortgage lenders agree to sell the property for less than the outstanding mortgage due. They do this to move the process along, get a percentage of their money right away, and avoid costly and lengthy foreclosure proceedings.
Short sales are a great way to buy a cheap first home or turn a profit with flipping, but are they right for everyone? Not always. Like any other money making opportunity, the buying and reselling of short sale properties does have its pros and cons. So, what are they?
The Pros
You should get a good value for your money. Since short sales involve selling a property for less than the outstanding amount due on the mortgage, there is the potential to get a good value for your money. In dire circumstances, the home’s appraised value is not considered, just the amount the lender will lose through foreclosure.
Can be less intimidating. If you want to buy an affordable property or a property to flip, your two cheapest options are foreclosures and short sales. Unfortunately, if you are new to the business, foreclosures can be intimidating. This is particularly true with foreclosure auctions. They are often jam packed full of professional investors and the auctions move at a fast pace. On the other hand, short sales involve dealing directly with a mortgage lender, real estate agent, or both.
You can turn a profit. The best chance of profiting from short sales is with flipping. You buy a property, make improvements, and resell for a profit. To make a profit, you need to spend a little as possible.
The Cons
You may not get the best price. As previously stated, short sales are a good value for the money. With that said, you may still pay a lot for a property. It is important to look at the big picture. Consider the home’s appraised value. Say it is $450,000 and the borrowers still owe $300,000, and you are able to acquire the property for $275,000. $275,000 is a lot of money to pay for a home, but remember its $450,000 value. Although you pay a lot, it is a great value for the money.
Short sales do take time. Mortgage lenders have the final say in short sale approval. Unfortunately, some drag their feet. This is common when a property has two mortgages and by two different lenders. Both must agree to a short sale. The longest decision will be from the second mortgage company, as they are shorted. Some short sale buyers have waited as long as six months to receive a response. If you cannot or do not want to wait that long, apply pressure after a few weeks or month. State you are interested in the property, but losing interest. Request a decision in two weeks or else withdraw your acquire offer.
The short sale deal can fall apart. As with other real estate sales, the deal can fall apart. This is why most lenders take their time accepting an offer. They review the home’s appraised value and estimate how much they can get from a lender owned home or a foreclosure auction. Borrowers also have up to the final closing stages to make good on their outstanding mortgage. So, if a lender receives a better offer or if the borrower comes into the money, the deal can fall apart at the last minute.
When it comes to real estate, it’s really hard to beat a cheap home. Cheap homes are very affordable, and ideal for those on a budget. For real estate agents, these types of homes represent a way to buy a home at a low price, build it up some more, then sale it for a large price. Making money with real estate is easy to do – no matter how you look at it.
Although you can find cheap homes throughout the United States, some will obviously be better than others. Some are in great neighborhoods, giving you plenty to see and plenty to do all around you. On the other hand, most towns that offer the cheapest homes normally have a bad situation when it comes to the job market. They can be great to retire to or settle down in if you own a business, although they aren’t great if you need a job. Internet marketers and writers are finding these areas, are flocking to them at a very fast pace.
You can also save quite a bit of money by buying a home that is less expensive, but still fits your needs. What this means, is buying a home in the inexpensive areas of your town, or buying a home that is cheap in price. You shouldn’t be focused on one type of home or neighborhood, but instead look at your available options and compare prices.
Keep in mind that buying cheap homes doesn’t necessarily mean buying a run down place or buying your home in a bad part of town. You can get a cheap home in a great neighborhood, if you weight your options accordingly. If you shop around and look at different areas, you might find yourself very surprised at just how many homes are available at cheap prices.
Before you purchase a home, you can save a lot of money if you know how to negotiate with the real estate agent. Although a home may have a higher price than you are willing to pay, you can shave quite a bit of the price off through negotiating. If you learn just a few of the simple techniques of negotiating, you can save a lot of money. Each and every day, hundreds of people get cheap homes by negotiating with real estate agents.
In some cases, you can end up paying the full price of a home and still end up spending less than someone else might spend. Although price has an impact, financing is also an area that can help to make a home more affordable. If you get a low interest rate, you’ll save a lot of money when you buy the home. There are several ways that you can save money through your finance options, which is why you should always research what’s available to you before you buy.
Before you decide to buy a home, you should always think things through and be sure to look around different areas and neighborhoods. Even though there are many cheap homes out there, you can get just as good of a deal through negotiating. Most cheap homes sell very quick, which is why you should always be on the lookout for one. When you find a cheap home that fits your needs, you should act on it. Contact the agent, take a tour of the home, then decide if the price and the features are indeed what you’ve been looking for. If it isn’t – simply forget about the house and start looking for another one.
