1 Yorkville Condo

1 Yorkville Condo

Units are selling now, please follow the like to the official sales sit

We build condominiums that exemplify luxury, creativity and community.  According to our architect Rosario Varacalli, “1 Yorkville Condo will stand out from other projects in Toronto because of three things: preservation, porosity and changing perspectives.”

One Yorkville Condo Preservation
Yorkville has a rich history and it’s important to us that we respect heritage. We are preserving and restoring a collection of very refined Yorkville Village buildings that date back to the 1860s.

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Realtors and the National Associatioon

The Securities and Exchange Commission (SEC) may agree with the National Association of REALTORS (NAR) and other industry professionals – that commercial REALTORS should be allowed to sell Tenant in Common (TIC) securities and receive a commission. NAR has been negotiating with the SEC to determine a process by which real estate brokers can legally be paid commissions on TIC security deals. Under the SEC exemption, REALTORS, who are predominantly engaged in and have substantial experience in the commercial real estate market (see below), can offer TIC securities to all individuals; not just accredited investors, and receive referral fees from TIC broker sponsors. The SEC exemption further states that: · REALTORS must have an investor sign an agreement allowing the real estate broker to advise him/her on TIC deals being sold as securities. · The REALTOR cannot advertise TIC investments. · The securities broker dealer determines eligibility of the investor. · The seller discloses and pays the buyer’s broker a referral fee. · The REALTOR must show the buyer traditional real estate opportunities as well as TIC deals. · The REALTOR must also be familiar with commercial real estate investments.

Prior to the exemption, only real estate brokers who were registered as securities brokers with the SEC and real estate brokerage firms as securities broker-dealers were able to sell, and earn a referral, from TIC deals. Investors who like TIC deals are passive; they prefer the freedom of not having to deal with property management issues and tenant concerns. The SEC exemption application defines “substantial experience” to mean a commercial real estate professional who has received a Certified Commercial Investment Member (CCIM) designation, or a designation from the Society of Industrial and Office REALTORS, or an Accredited Land Consultant designation from the REALTORS Land Institute.

Equivalent education and transaction experience can substitute for commercial real estate professionals who do not have any of those designations.

For example, a professional who has participated in at least five commercial real estate transactions having an aggregate value of at least $3 million in the prior five years, or at least 10 commercial real estate transactions having an aggregate value of at least $10 million in the prior 10 years, can sell, and an earn a referral, from a TIC deal. The TIC investment industry has grown exponentially since the issuance of Internal Revenue Service Procedure 2002-22 in March 2002. The sale of TIC interests in commercial properties has grown from $163 million in equity placements in 2002 to over $8 billion in 2007.

The SEC exemption will open a number of opportunities for new revenue. Be cautious, however, to only work with a TIC sponsor who understands the industry and one that has a successful track record. Increased real estate commerce, controlled cap rate compression, impressive occupancy rates and expanding job growth, are all indicators of a strong market for TIC investments. But, do you have access to that specific research? The relationships? The deals? You can!

Real Estate and Flipping Houses

What’s involved with flipping houses?

There are a few key points that need to be known if you’re planning on flipping houses. The first is financing and money management. The whole idea behind house flipping is that at the end of the project, a profit will be made. If you’re spending more money on renovation, land and labor, then you are never going to see that profit. The age old rule of buy low and sell high applies here. The majority of people who flip houses buy their houses from foreclosures which helps to ensure that a lot of money is saved when buying the actual property. These houses are generally in pretty good condition and most will only need a few touch ups here and there before they’re ready to be put back on the marker

The second major factor when it comes to flipping houses is the restoration or renovation of the house itself. A lot of the times, this is the most costly part as the houses are generally bought fairly cheaply from foreclosure sites or from desperate sellers.A clear budget needs to be laid out to ensure that the minimum amount of money is spent on renovating and restoring the house. Materials and labor will be the biggest money sinks when flipping houses. To save the most amount of money possible, some people even decide to renovate the houses themselves, thereby eliminating all costs needed to hire a work force to do the work for you.

One of the best benefits of doing all the work yourself, besides saving a load of money, is that the risk of hiring a shoddy contractor is completely eliminated. If you do decide to hire a contractor, no matter what their profession, you should always ask for a list of references and if possible, a portfolio of their previous work to make sure that they aren’t going to leave you with any nasty surprises when you are flipping houses.

A few things to look out for when flipping houses

When you’re flipping houses, there are a few things that you should always be wary of. They include, but aren’t limited to:

  • Over pricing your work. You may think that all the work that you’ve put into the house is worth a couple of extra zeros on the end of the price tag, but by over pricing and over evaluating the work that you’ve put into renovating or restoring a house, you run the risk of not selling it at all
  • When flipping houses, it is important that you don’t skimp out on the important things in order to save a couple of dollars. While the cheaper materials may seem attractive while you’re restoring a house to flip, the chances of them causing you troubles down the line is increased.
  • And finally, while you’re flipping houses, make sure that have a clear time table set out before you start a major project. A time table as well as a brain map are great resources that can save loads of time and money simply be keeping you and your workers organized while flipping houses.

Increase your home value

Increase Your Home’s Resale Value With An Outdoor Patio

An outdoor patio doesn’t only add functionality to a home, it adds value. Building a patio to your existing home you’ll be able to gather together with family and friends for many years while increasing your home’s resale value. This is the perfect idea for anyone that is interested in perking up their backyard.
It’s always nice to know that your home improvement project is going to pay off down the road when you are ready to put your house on the market. It’s hard to watch your hard-earned money disappear knowing that you’ll never see it back. Fortunately, this is not the case for adding a patio or fixing one up. A patio can be a major selling feature for a home.

Interlocked patios are the best for seeing a return on your money. They look rich and can be designed in contemporary or traditional styles. You’ll have the flexibility to choose the shape of your new patio and the stones. There are also various ways to lay the stones to bring out the most in the patio design.

Of course, you’ll want to add a lovely outdoor patio set to the whole ensemble. If you have chosen a newer modern style of patio you’re sure to find a contemporary set that will look great. Wicker furniture can blend in well here or metal sets with a sleek polished look.

On the other hand, if you have chosen to build or update your patio with a more traditional design, you may want to consider a wooden outdoor patio set to bring it all together. These wooden pieces can add a rustic look to your patio while bringing home a sense of tradition.

By adding a patio to your home you will be able to enjoy countless days and evenings relaxing in your back yard. You’ll also know that you have opened the door to any future real estate transactions on your home. A lot of prospective home buyers take a very close look at the backyard to figure out where they can set up their barbecue and sit down for a relaxing drink after a hard day at work. You’ll also be able to ask for a higher price for your home once you are ready to put it on the market.

Won’t you be able to enjoy your patio all the more knowing that it has increased your home’s value?

1031 Exchanges: An Investor’s Dream Come True!

Don’t Believe What You’ve Heard!
Despite what you may believe to be true, other than the
home you live in, you can exchange ANY kind of Investment
Real Estate in the United States for ANY other kind of
Investment Real Estate, anywhere in the United States!

It’s “Dirt for Dirt!”

You can exchange one for several, several for one, less
value for more value, more value for less value, and on,
and on . . . but exchanges must be used the right way,
with the knowledge and help from those with the
expertise. This is the way Real Estate Fortunes are
built, for yourself or for your family’s generations to
come.

All You Need is the People With the Know-How!

Here’s where the experts come in! Call on us, at Honolulu
Real Estate. We have the experts to guide you through the
government-created exchange-maze, using intelligent
private-sector know-how. No one has access to a better
network of 1031 Exchange Expert-Facilitators, in the
United States!

Invest in Paradise, or Just Retire Here?

Feel free to contact us with your need to exchange any
investment-property in the United States, for any
investment-property (your future retirement home?) in
Honolulu or on Oahu. Contact us with problem-real estate,
on Oahu, or any real property Exchange problem, regarding
any real property in the United States. You’ll be
thrilled!

There is a lot of confusion between HAMP and HAFA

There is a lot of confusion between HAMP and HAFA. HAMP is the Home Affordable Modification Plan and HAMP is the Home Affordable Foreclosure Alternative program. Under one program (HAMP) you are trying to get a loan modification on your loan/s. Under the other program (HAFA) you are trying to find an alternative to a foreclosure by selling your home using the short sale process or giving your property back to the bank using a Deed in Lieu of foreclosure.

If you qualify under HAFA to sell your home and your lender is identified as subscribing to the HAFA program, you, as the borrower will be fully released from all liability for repayment of the loan.

Because, in any case, there could be significant tax and credit issues, it is always best to check with your attorney and tax adviser as to your personal situation.

Short Sale and Foreclosure Resource SFA

Having earned the CDPE designation was a great step in a quest to help homeowners facing foreclosure. Recently I added to that designation with the SFR which is the National Association of Realtors course with certification upon passing course materials and exams for those agents interested in working short sales. It stands for Short Sale Foreclosure Resource.

Sellers facing foreclosure deserve representation by knowledgeable agents. The vast majority of agents certainly want to do a good job for a seller in distress. Wanting to do a good job and having specialized training are distinctly different. The details, follow-up and timelines in the foreclosure process are very precise and require specialized training to insure the greatest possibility of success.

An agent would be much better advised to refer short sales to a verifiable short sale specialist, earn a referral and praise from their clients for their help than muddle through an unfamiliar process and possibly end up with less than a favorable result.

Beware of Short Sale Scammers

Because of the large number of short sales and because they promise to remain strong for the next five years, they are the perfect playing field for unscrupulous scammers.
Unlicensed “Short Sale” negotiators are approaching homeowners in distress and asking for upfront money to negotiate with lenders. This is illegal. Only attorneys and licensed brokers can ask for money up front – and only after the Department of Real Estate approves the agreement with an individual seller.
These “so called” Short Sale negotiators, including some real estate agents are lowballing offers to overwhelmed banks. This is called “flopping.” The home is then flipped to a waiting buyer for a much higher price. Beware when you are asked to use one of these “floppers” title companies. This could be a clue you are involved in a flop.
Another practice that is happening with regularity is that often the holder of a 2nd mortgage on the property is demanding extra money outside of escrow in a “secret deal”, because they don’t want the primary lender to know. If you don’t play ball with them they will refuse to approve the sale. It is out and out blackmail and extortion. The government really needs to crack down on this practice.
Some homeowners, especially savvy, well-off owners who owe far more than their houses are worth, are hiding savings and income to persuade lenders to agree to short sales. Many can afford their mortgages, but know it will take them years to recoup their 2006 values.
If someone asks you for money to negotiate a Short Sale, you should probably look elsewhere for help. HELP IS FREE! There are many well qualified people who can help for free. Look for an agent who holds a CDPE or SFR designation. These agents have been trained to help you through the process.

Can you guess the 10 most recession proof cities in the U.S?

What characteristics do the 10 Most Recession-Proof U.S. Cities have in common?

The most recession-proof cities didn’t see home prices surge in the first place, so they didn’t experience a big housing bubble followed by a crash, and their economnies weren’t rooted in the auto industry.

The top 10 stable cities identified by MetroMonitor are:

1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
7. Dallas, Texas
8. Des Moines, Iowa
9. El Paso, Texas
10. Honolulu

What is a Land Contract – Understanding Land Contracts?

When it comes to real estate business, there are many contracts that a person must be familiar of.  One of these contacts is a land contract.  To understand what a land contract is, here are some of its basics.

1. What is a land contract in general?

It is a contract whereby the buyer buys a parcel of land or a property my instalments.  The contract is executed upon payment of a down payment by the buyer.  The buyer then promises to may monthly or yearly amortizations until the purchase price of the property is totally paid.

Thus, what is a land contract in general is an agreement to buy and sell a land  property.

2.  What is a land contract difference from Land sale deed?

Deed of sale is a contract whereby seller delivers both the possession of the land and the ownership of the same to the buyer.

What is a land contract difference from a deed of land sale is that in land contract, what is only delivered by the seller to the buyer is only the possession of the land.  The delivery of ownership of the property however is subject to the condition of full payment of the amortization in a specific period.

3.  What is a land contract compared to contract of lease?

A contract of lease and land contract are almost the same as they involve the transfer of possession of the property to the second party which is either the buyer or the lessee.  In lease however, the second party does not have any intention of owning the property and the owner himself does not have the intention to sell the property.

Thus, what is a land contract different from a lease is that in a land contract, the second party of the buyer may eventually own the property after a specific period of time.

4.  What is a land contract seller responsible for?

A land contract seller is responsible for the warranty of the property.  When the seller sells the property, he warrants that the buyer will have a peaceful possession of the property.  Further, that no other person can evict the buyer from the latter’s possession of the same.  More importantly, what is a land contract sellerresponsible for is to make sure that the land is not in any way subject to encumbrances by any person or by the state upon the execution of the contract.

5.  What is a land contract buyer responsible for?

A buyer in a land contract is responsible to pay the down payment and the amortization of the property to the land contract seller.  Unless, the seller in a land contract agrees, he cannot also resell the property to other person.  What is a land contract buyer’s right is inchoate ownership; hence he does not have the authority to sell.  He is also responsible to inform the seller of any encumbrances that may arise during the period of the land contract.  If he fails to inform the seller, he may be made liable for whatever encumbrances that arise during the term of the contract.

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