Many cities in the Midwest struggled with weak economies in 2005, however the city of Indianapolis, true to its car racing spirit, zoomed ahead of the competition with the fastest economic growth in the region. According to the Property & Portfolio Research, a real-estate analysis firm in Boston, the demand for commercial real estate in Indianopolis is growing and job vacances are down in most sectors.

A central location served by by five interstate highways and low costs have helped Indianapolis become a national distribution hub. Commercial property prices in Indianapolis are lower than the national average and the cost of doing business is lower compared to the nearby cities, including Chicago and Cleveland. Plenty of land is available since there are no mountains or hilly regions nearby. Several real estate firms predict that the commercial and residential real estate markets will continue to do well due to these reasons.

According to a report released by C.B.Richard Ellis, a leading real estate firm, a large number of Indianapolis-based small and medium-sized businesses that relocated to larger spaces and the suburbs grew last year. The report forecasts a drop in vacancies in the suburban office market, fresh investments in office buildings, and continued popularity of open-air shopping centers.

The growth trend in the office buildings sector in 2005 is expected to continue further, boosting occupancy rates. Suburban office buildings were highly popular, with 25 percent of them trading hands in ownership or occupancy in 2005. The CB Rihard Ellis report suggests that these trends might result in a modest increase in rents, but not everybody agrees.

For the fifth consecutive year, residential real estate sales also continued to grow in Indianapolis. This was possible because of the low mortgage rates. In its 2006 forecast, CB Richard Ellis forecasts that Indianapolis will continue to see the growth of tenants-in-common investors in multi-family housing units. The company also anticipates a slowdown in single-family home sales, as prices gradually continue to increase.

Indianapolis real estate information and trends can be obtained from local newspapers such as the Indianapolis Star, Marion Country, Daily Journal, Herald Bulletin, Reporter-Times, and Shelbyville News. Online versions of some of these newspapers are also available.

The past year has brought many changes to the Incline Village real estate market. For starters, with sales in units down 50% versus 2005 we are already seeing a lot of agents leave the business. Clearly, our local market cannot support the 350 agents who are members of our MLS when there are only 200 or so transactions taking place in the entire calendar year. The hobbyists, part-timers and others who don’t put in the effort to make real estate sales a full time job are realizing that the easy money years are over. It takes a lot of hard work and commitment to succeed in what is arguably the most competitive real estate market in the entire United States.

Despite all of the projections of doom and gloom by “experts” all over the country, the median prices for the Incline Village real estate market have held steady. Very few property owners in our community actually live and work here, so prices have no relation to local incomes. Property values here are based on supply and demand and what the most affluent people are willing to pay for any particular property. Interest rates, prevailing wages, unemployment and other factors that affect your typical urban and suburban markets have little impact on the Incline Village real estate scene and property values. So, while there may be some pockets of softness in specific condo complexes and in the multi-unit sector, overall prices for property in Incline Village are steady.

Based on current inventory levels, sell through rates and days on market, I anticipate that our market will remain in a plateau through 2007. This means a buyer’s market for the foreseeable future with prices holding steady and upward pressure only existing for the most desirable locations and highest quality homes and condos. It seems odd that unit sales were so much higher in the 2005 seller’s market and so much lower when we are in a buyer’s market. But, it’s human nature to follow the crowd. So, as much as people were in a frenzy to buy when prices were rising they are sitting on the sidelines in equal amounts while prices are in a holding pattern.

If you are a buyer, do you want to wait until prices rise again or do you want to make a purchase while it’s still a buyer’s market & you have greater negotiating leverage? We are seeing the best values go into escrow week after week, confirming the notion that there will be no price collapse in the Incline Village real estate market. Patience is good, but only too a point. I think that the operative phrase during this current buyer’s market is, “You snooze, you lose.”

Taking a look at the other top news story in 2006, two of the big firms in town merged. I don’t think clients in our market care about the size of the firm they do business with. Buyers and Sellers in Incline Village are seeking quality representation and superior customer service, not the biggest office with the most desks. As agents, we all have access to the same MLS and we all attend the same Tuesday morning meetings. It’s not the size of the office you work in, it’s the quality of support that your office provides and what each agent does to help their clients achieve their goals that makes the difference.

In summary, 2006 brought many changes to the Incline Village market but none of them turned out to be earth shattering. There will certainly be a shakeout among the marginal real estate agents and hobbyists since there is not enough sales volume to support the current number of agents in town. We are already seeing a ripple effect as the title companies and other affiliates down size to accommodate the decreased number of transactions. The ones who have benefited the most during this slower sales phase have been the contractors who do high quality remodeling. In this slow period, many property owners are doing work on their condos and homes and enjoying them more instead of putting them up for sale.

Copyright 2006 Don Kanare – All rights reserved.

I am frequently asked by people thinking of moving to Spain what life in Spain is really like. This is not such a suprising question, really, as the only experience of Spanish culture that most people have is during their brief two week holidays in Spain. These, almost by definition, are usually spent in tourist destinations that have no more relevance to real life in Spain than the front at Blackpool does to normal life in the UK.

Of course, everyone’s experience of permanent living in Spain is different and, to some extent it is almost impossible to adequately encapsulate the way of life in any all-encompassing way. This may seem odd but the truth is that there is little real connection between daily life in Spain lived within a rural, inland village and that encountered by those living on a high class, high density foreigner estate on the coast. The former tend to involve a ‘full-on’ integration into Spanish life whilst the latter can mean that no real integration is necessary or, indeed, ever really takes place.

Certainly, it not for me to make a qualitative judgment about the merits of the two extremes (rural life or foreigner coastal estate) as everything depends upon what you – the person moving to Spain – wants. In a way, I think that one of the great strengths of Spain is that foreigners can move to Spain and live in specific areas that are extremely user-friendly. This is certainly true of the Costa del Sol and the Costa Blanca where there are many estates largely composed of foreigners – some of which are overwhelmingly populated by German, Dutch or British people. Calpe (on the Costa Blanca), for example, evidently has more British people living there than Spaniards!

In effect, you can move to Spain and into an area that has an existing way of life that has little to do, in reality, with Spanish culture. Most of your neighbours may be British (or at least English speaking) and the local infrastructure will have developed to service foreigners. ‘English’ shops selling English goods (run by Britons) may be present and complemented by English speaking dentists, lawyers, bar owners, doctors and tradesman. Even the local native Spanish will probably speak sufficient English to service your needs. Needless to say, often a well developed English speaking social network will have developed providing a range of activities and clubs.

Meanwhile, these coastal estates have usually matured well and have all the services that you would expect in the UK. ADSL is normally available together with drinkable mains water (aqua potable), mains sewage, electricity and telephone landlines.

So, daily life in Spain in some coastal areas can, in many ways, be superficially similar to the UK – including the fact that you do not need to speak Spanish to live quite happily, long term, within this environment. Indeed, to all intents and purposes you can avoid Spanish culture in any meaningful sense – whilst enjoying a stunning climate, an al fresco life and one where the living costs are lower than that of the UK. The day to day life may be somewhat ‘artificial’ but it is one which is easily accessible if you do not want to be unduly challenged by moving into a linguistically different culture.

Of course, matters are different inland. Most foreigners who move to Spain, understandably, move to the coast. Accordingly, the ‘infrastructure’ for foreigners moving inland is far less well developed. An English speaking infrastructure is often barely present and the way of life markedly different. Certainly, learning Spanish is almost a pre-requisite together with a willingness to embrace Spanish culture wholeheartedly.

It is also true to say that in rural areas (outside of villages and towns) some of the basic services present everywhere in the UK can be distinctly lacking. Some rural properties can lack mains electricity, mains water and even landline telephone connections – let alone ADSL. Unfortunately, some of these places, for the forseeable furture, will also not receive an upgrade should they be missing these services.

Certainly, I am not, for one moment, suggesting that if you are thinking of moving to Spain that you should avoid inland areas. That would be absurd – but recognise that the move is likely to be far more committing than if you were moving onto a coastal estate. That said, any difficulties can be more than off-set by the rewards inherent in integrating properly into Spanish day to day life within a tight, nuclear culture that is fundamentally different (and arguably better) than that of the UK.

Of course, the decision of where to move to Spain is yours. However, recognise that exactly where you move – will define your daily life far more than it would in the UK. Move to a coastal estate and, by definition, your daily life will probably have little to do with Spain and the realities (for both good and bad) of Spanish culture. The demographics and lifestyle on most coastal estates quite simply have little, if anything, to do with ‘normal’ Spanish life. However, the reverse is true of inland areas. In terms of sheer life experience, the latter are likely to be more interesting (and fun!) albeit that that they can present greater challenges – day to day!

The journey to a successful life should be enjoyed. True success comes from accomplishing the daily activities that will lead you to your ultimate goals in life. Failing or neglecting to accomplish the daily disciplines will lead you down the path of lost opportunities and lost income.

If the penalty for not accomplishing your daily activities or disciplines was implemented or assessed today, we would look at neglecting them differently. The truth is that the penalty for neglect is more visible in the future than it is today. The person who eats fried foods does not pay the penalty at 35, he pays at 55. The person who fails to save 10% of his income for retirement is not penalized at 40, but at 60.

If we were zapped today from neglecting the daily disciplines rather than in the future, our daily disciplines would change. We have to make the neglect more painful than the activity pain. There are three disciplines that must be done daily in real estate for success. They are working on growth, administration, and working ON your business. Let’s look at each individual area comprehensively.

Growth:

Growth is the part of the business that brings in the revenue for your business. The more time you spend of your day in growth, the more income that you will make. Most Agents work on growth activities at the last minute, when they are running short on funds. The problem is that is too late. To have a steady business income you need a steady approach to growth.

Growth is the prospecting that you do daily. It is the listing appointments that you have for the day. It is the lead follow-up that you are doing on the people who want to buy or sell. It is the meeting with your lender to work on your competitive advantage in the marketplace.

Growth is the critical part to any business. Without growth a business will fail. I know a lot of Agents who are highly skilled in growth and poorly skilled in administration and working on their business who earn large amounts of money. I know of very few successful Agents who are not highly skilled at growth. You can have huge deficiencies in administration and working on your business but still win the game. You cannot be deficient in growth and win.

Administration:

These are the activities that complete the income stream:

1. Processing the listing so Agents can find it in the MLS

2. Processing the sold property through escrow

3. Communicating with your clients on a regular basis

4. Directing your staff and monitoring their progress

These activities done well will enable you to turn clients into fans who will look for new business for you. You will need one to two hours daily for administration. If you create a good system and have a highly trained and skilled staff, your time spent in this area will be reduced. In the perfect system administration gets done well, but the Agent spends little of his personal time on it.

On your business:

This is the time that most people neglect. This working on your business really separates long-term success and growth from just running faster on the treadmill of life. Long-term financial success lies in this section of your day. The ability to earn more profit is also located here.

We are all really employees of our own little real estate business. We are the ones who bring in the business and make the system go. The more time we plan, read, strategize, practice, role-play, and implement our ideas, the more ownership we gain. Becoming the owner of your real estate business only happens through diligent work on your business. Instead of being the employee who works to draw a salary and pay the bills, why not become the one who orchestrates the company? Be the one who has something to sell when he wants to try something else and/or retire.

What do you think your business would look like in 90 days or even six months if you were to implement the below daily routine?

Growth: 3 hours

Administration: 1 to 2 hours

Business: 1 hour

Time block these activities into your daily routine. You will be amazed at the results you will achieve, even in one week. Do not allow the distractions to overtake you and your new daily focus. Do not neglect to do the things that will lead you to success. Do them daily without fail.

I’ve read that, due to the current state of the economy, charitable contributions are down. We are being asked to give financially to Haiti and many other note worthy causes daily. All the people I know have very generous hearts and wallets and truly desire to make a difference in our planet and in their communities. Our articles, however are mostly centered on receiving, e.g., rental income, cash flow and return on investment.

Business should not only be about what we can get out of it – ideally there must be a mutual exchange of goods or services in which all parties experience value for a healthy balance to exist. Many of our student’s implement our program for the sole purpose of what is it they can receive. No problem, after all business depends upon smart decisions regarding how to make the most of a good investment – so naturally we applaud their thinking.

However, our program innately carries a business balance where everyone involved receives and gives within a healthy mutual respect. In tough times or good times, offering someone a clean, affordable place to call home is foundational to the spirit of giving. At the same time, receiving a maximum return on an investment is ultimately the purpose of good business.

Times are changing more rapidly than we would have ever conceived possible just a few short years ago – business is not “as usual.” In this hard economic period, does it not make sense to enter a business arrangement knowing that it not only benefits you, but countless others? Think outside the box. Remember receiving has the additional bonus of feeling even better when you are giving back in return.

Once you have chosen your dream home, the most important thing is to ensure a smooth closing. Most home buyers and sellers count on their Real Estate Professional to guide them through this process. As an escrow professional, I know home buyers and sellers are often nervous about the process. If a Realtor wants to truly market themselves as an expert in their field, they should learn the settlement procedures inside and out.

A knowledgeable real estate agent must be familiar with the mortgage lending process, even if they are primarily working with sellers. The sellers will become reliant upon the buyers mortgage lender to ensure timely closing and disbursement of funds. If the Real Estate Agent is going to represent buyers, this is vital to ensure a smooth closing. Most of the larger lenders will offer seminars to help inform Real Estate Agents on typical lending practices.

Another important part of the settlement process is the title insurance or lien search. The Realtor must be prepared to explain to their client the ins and outs if a defect on title were to arise. The Agent must also be familiar with the typical charges associated with searching and insuring a clear title. These cost vary from state to state, and the responsibility of the buyer or seller to pay for these charges also vary by region.

Lastly, it is an absolute necessity for the Realtor to be knowledgeable of the HUD-1 settlement statement. This document explains to the client in detail all the charges associated with the transaction. The HUD-1 will provide the buyer and seller with their bottom line. An informed Real Estate Agent will be able to catch any mistakes or incorrect charges to their client. Knowing what is being charged and why is vital to provide excellent representation of the buyer or seller in the transaction.

The settlement process can be overwhelming to a buyer or seller, especially if this is their first or second transaction. The client has obtained a Real Estate Agent to guide them through the purchase or sale of the property. Representing the client is so much more than showing them properties or putting up a sign and finding a buyer for their property. If a Realtor can properly inform their client of each step towards the settlement and disbursement of the transaction, they are truly representing them.

Resting in the middle of Hickory Nut Gorge in Rutherford County, Lake Lure North Carolina is a great place to visit. As the name implies, the actual lake in Lake Lure is the biggest attraction, both in lake activities and Lake Lure Real Estate. Lake Lure has even had a mention in National Geographic as one of the most beautiful places to live.

All kinds of activities can be enjoyed in Lake Lure. These activities include rock climbing, golfing, swimming, canoeing, fishing, boating and water skiing.

While Lake Lure North Carolina is known for beautiful scenery, outdoor activities, and real estate, it is perhaps best known nationally as the real-life location of the 1980′s movie “Dirty Dancing”.

Right near Lake Lure is the beautiful Chimney Rock Park – also a renowned place in the movie world as the location for filming “Last of the Mohicans”.

Lake Lure is fed by the beautiful Rocky Broad River – named for its dramatic line of huge boulders that line the shore. This river forms the breathtaking Rocky Broad River Gorge, which can be seen in all its glory at the top of Chimney Rock.

With a population of just over 1000 residents, Lake Lure was conceived in the early 1900′s by the Morse family. They bought hundreds of acres, built a dam and formed the Carolina Mountain Power Company. While they lost the land and dam in foreclosure during the Great Depression, the plant continued to provide electrical power and continues down to this day. Supplying power comes second only to ensuring the water levels remain at acceptable levels for NC homeowners.

Lake Lure homes are an attractive offer for home buyers. With so much to do in the area and close approximations to places like Asheville, people can vacation in the wilderness and still enjoy the amenities of being close to more metropolitan attractions and day excursions. And conversely many people in Asheville and surrounding communities have purchased Lake Lure luxury homes and properties to have a quick getaway and respite from the hustle and bustle of daily life.

The actual Town of Lake Lure is a little over 13 square miles, at an elevation of just over 1100 feet, and includes the lake and it’s many fingers and bays the wend their way around the town. The weather is generally mild year around since it is located in the thermal belt of the mountains and foothills of western North Carolina. At an elevation of just over 1100 feet, there is plenty of hiking to be had nearby at peaks over 3000 feet!

In general Lake Lure is a pleasant and enjoyable place to vacation, live, work, and play. With the small town feel and friendly atmosphere, real estate, camping, and daily living are all attractive offers for the outdoors aficionado. With homes in a wide variety of price ranges and locations, you can get a taste of western North Carolina mountain life at any budget and style.

While you are trap with your daily schedules both at home and at work, you may find an urgent matter that needs your attention. It may be a simple house repair or a major decision of selling a property for a reason. Whatever it may be, of course you want to ensure the quality that you will gain from attending to this urgent need.

Talking about quality, it is one thing that we are often times after for. So whether you decide to get the service of a professional or be the one to offer service to others, quality of an output will prevail. And for instance, due to an urgent financial need or you feel like moving to other place, you may find selling a property could help you out. The quality of your property for sale is significant.

Selling out a property takes time. One of the common properties for sale nowadays is the house. Posting a house for sale on a market list is easy but finding and convincing a buyer may be difficult. You may need the help of a person who has an expertise in selling a real estate property. Finding a real estate brokerage can be a help.

What is a full service real estate brokerage? Real estate brokerage (or broker) acts as intermediary between you as the seller to your potential buyers. A broker is not just a mere intermediary because he or she has to be authorized or licensed to execute the job. The job is not only limited to this but also includes searching for either a home seller or buyer for his or her client. Furthermore, he or she provides guidelines and prepares the necessary things for a faster deal closure.

Answers to the question what is a full service real estate brokerage can help you analyze the pros and cons that you have to consider in selling your house. What is a full service real estate brokerage? Take a look at the following:

o Comparing the value of your property to others to give it a reasonable price.

o Exposing your property through different real estate strategies to catch the eyes of
potential buyers.

o Providing guidelines and consultation to meet the contentment of the client.

o Preparing the documents needed for the buying and selling matters

Being able to avail what is a full service real estate brokerage is not actually a waste of money. A licensed broker, together with his or her subagents can actually sell your house in a short period of time because of his knowledge, skills, and ability to do so. Less time with reasonable earning – that what is a full service real estate brokerage about.

Considering what is a full service real estate brokerage can save your time and sell your house at the right price. With the competition that you can encounter in the real estate market, you need to be equipped as to not to be left behind in this area.

If you are a ‘people person’ and you are interested in learning about the ins and outs of the real estate industry, then being a real estate agent just might be a lucrative career for you. So why do you need to be a ‘people person’? The first, and most important reason, is that real estate agents act as a mediator between home sellers and the buyers. You need to be acquainted with the immediate neighborhood so that you will know which families or homeowners are interested in buying or selling properties. Also, you should have the ability to help couples, families or individuals look for a home which fits their needs, taste and budget. Such is the nature of a career in real estate and if you can picture yourself doing these tasks on a daily basis, then the next thing that you need to do is obtain a real estate license.

For a real estate agent to practice his or her profession in a particular state, there is a need to obtain a real estate license. One of the most basic requirements is that a person should be at least 18 years of age. For each state, there is a specific set of requirements. In Texas, for example, you should take 60 classroom hours of a course on “Principles of Real Estate”. Aside from that, you should take at least 30 classroom hours on courses about the Law of Agency and Law of Contracts. To know about these specifications, you need to check with your local state office and ask how you can fulfill the requirements to obtain a real estate license.

If there are real estate courses that you need to undergo prior to taking the licensure exam, you need to do your part in learning about these subjects. You can take the courses in a physical classroom, or study online. No matter which of these two options you choose, the important thing is for you to work hard and initially learn everything that you can about the real estate business so that you can be equipped once you go out there to practice your profession. Having the ability of dealing with people, combined with proper knowledge of the local market are both essential if you want to get a head start in the real estate industry. At the end of the day, buying and selling properties, be it commercial or residential, is no easy feat. There are legalities and intricacies that you need to learn about, which is the reason why obtaining a real estate license should be your first priority if you want to have a thriving career in the real estate business.

Many daily newspapers are asking a question I have asked for a long time before the residential real estate bubble finally burst, and foreclosures, not sales, became the norm.

The question is “Who was to blame for the rapid increase in real estate prices and most of the obvious fraud that followed, resulting in the worst foreclosure crisis in American history?” The answer is long and complex, hence the lawyers have jumped on board to sift out the blame and figure out who deserves to be compensated for losses. The main players in the home real estate and mortgage foreclosure fiasco are all suing each other. Home owners are suing realtors, mortgage companies are suing fraudulent buyers, local governments are suing lending companies and appraisers, and some mortgage brokers and lenders are being sued by everyone.

When I saw so many unqualified buyers buying expensive real estate so fast during the so-called real estate boom, I warned people I knew that the worst real estate bust in history will soon visit upon us. My reasoning for the “dismal real estate bust prediction”,
was that it is not possible for real estate values to go up so high, so fast when people are loosing their jobs, losing health care benefits, gas is skyrocketing, and American salaries are being decreased, not increased. The reason brokers gave to justify selling subprime adjustable rate loans was that homebuyers were told, “you don’t make much now, but when your monthly rate increases your income will also increase. But, of course, any level-minded sensible person would understand that most employees don’t get 30% salary increases in three years as the adjustable rate subprime theorist suggested.

The reasoning many potential subprime homebuyers made for buying a home with an adjustable rate subprime loan was, “if it was not possible for me to pay for this house, the
mortgage company would not have allowed me to purchase it.” One such person this statement actually came from was an educated retired school teacher I spoke with who purchased a new home at retirement with a subprime loan. I attempted to counsel
her to understand that because her home price was huge and her payment was tiny, her
loan was an adjustable rate subprime loan. Sadly, she did not understand what a subprime loan was, she had a high credit score, and she would not listen when I tried to tell her she was qualified for a much better product and the broker she was dealing with was fraudulent.

Well, now she understands that too late, and found that she qualifies to be a part of a lawsuit her city is filing against her broker and other mortgage companies who gave adjustable rate subprime loans to people with high credit scores, based on higher commissions for the broker. At the time she accepted the loan, I told her that her income
qualifies her for a conventional $200,000 loan, but the fact that she was purchasing a $600,000 home was a screaming clue that she was getting a subprime loan her broker did not explain to her, but she refused to see the reasoning.

The retired school teacher was forced to refinance in just 12 months due to a
drastic increase in her monthly payment coming due at adjustment. She was a part of
the highly qualified home buyer who:

1. Did not understand what an adjustable rate subprime loan was,

2. Was not told she was being sold an adjustable rate subprime loan,

3. Was fraudulently sold an adjustable rate subprime loan, when she qualified for a low interest fixed rate 30 year loan.

This behavior was a part of the dishonest mortgage brokers who sold subprime loans based on higher commissions instead of qualifications and understanding on behalf of the buyer.

Who is to blame for the foreclosure explosion that followed the subprime mortgage fiascoes? In my opinion the mortgage industry has been loosely regulated and monitored by government agencies, as a result mortgage brokers and lenders have had little consequence for their actions. Many Americans are against government regulation, but to me this is a major reason why the government should closely regulate industries such as this. Blame should start with the federal government, then state governments, the cities, the lending industry, the mortgage brokerage industry, and the real estate industry. All of these entities should get together rewrite rules, regulations, and enforcement. Each homeowner who lost their homes to adjustable rate subprime mortgage loans or were sold homes they could not afford, should be paid for pain and suffering. All of these agencies knew that the home prices were increasing at an alarmingly false rate, and they also had many clues that fraud artist were artificially assisting in increasing home prices. The agencies allowed it to persist until finally the federal government and lenders pulled the plug on abusive lending when foreclosures started to skyrocket far beyond historical rates.