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10 Commandments Of Successful Investing In Real Estate

There are many kinds of investment opportunities in the market. And almost all of these investment options seem to be a good choice for you. However, there are some tips you must keep in mind while investing in real estate, one of the best modes of investment.
10 Commandments Of Successful Investing In Real Estate
Here are the 10 commandments of successful investing in real estate:
  1. Education: Before you begin packing and moving boxes, remember to educate yourself with the areas, the interest rates and other kinds of details that will help you invest better.

  2. Advise: Do not take any decisions without discussing your ideas with an investment counsellor. This session with the counsellor will help you understand the flaws in your ideas.

  3. Financial Financing: You will need to maintain a proper planning and proper action plan. Investing in real estate require huge sums of money, which is why you need a solid plan that will not disrupt the cash flow.

  4. Remain in Control: You will need to understand that there are various kinds of people you will deal with. Remember to keep a level-head and understand what the situation requires you to do.

  5. Be careful: As mentioned earlier, real estate investment is a huge deal. You will need to be very careful when you make your decisions. Always plan ahead and understand the way the market works to make profits.

  6. Do not gamble: Investing in real estate and gambling with your money are two different things. Do not put your money in just to try things...

How to Downsize With Minimal Stress

When you downsize, you start a journey that can be stressful, exciting, and bittersweet. Creating a detailed plan and staying organized can go a long way to facilitating a smoother and low-stress transition. Here’s some advice on how to downsize with minimal stress.

Plan ahead

It’s never too soon to start planning. Start by making lists, like what to keep or give away and things you need to do (like transferring subscriptions or shutting off utilities).

Make a sketch of your new home to use as a guide, especially if you know you’ll struggle to sort through your possessions. Once you quantify the available storage space, create a spot in your home in which to put items you’re keeping.

 Declutter, purge, and sort

 People accumulate a large amount of “stuff” throughout their lives. It’s not easy to say goodbye to things that hold a lot of memories. Take time to reminisce and wax nostalgic as you’re sorting well-loved toys or finally tossing kindergarten artwork that’s 30 years old. There’s no shame in crying or walking away to work in another room until you’re less emotional.

 Plan to tackle your home one room at a time. Experts also recommend devoting a couple hours each day (over a week or more) to the process. Don’t rush. Divide your possessions and furniture into three categories: keep; donate, give away, or sell; and toss.

When you have sentimental items, but you’re not sure if there’s a place for them in your new home, take a picture and create an album so you can...

Top 4 Things Home Inspectors Look For

Most people understand the importance of having your home inspected by a professional before you buy a new property. Home inspectors have years of experience and specialized training so they know what to look out for in aging homes and what problems are likely to appear. Here are the top 4 things home inspectors generally look for, so you'll be better informed the next time you buy a home.

 #1 Structural Problems

 Structural problems can include anything from a settling foundation, a house built on a grade, or physical problems with a home. Structural problems are important to identify not only for safety reasons but because they tend to be larger in scale and can potentially cost big bucks to fix. A couple hundred dollars for a home inspection could save you thousands if the inspector finds a cracked foundation, unstable patio, or drainage issues.

 Home inspectors will have seen hundreds, if not thousands, of different style homes in your area. This gives them a wealth of knowledge on what you could expect from your property. Often times, if an inspector finds a problem with a home you can use this information as leverage to reduce the buying price or even have the seller pay for part of the repairs.

 #2 Plumbing

 Plumbing is a very important factor to check over when buying a new home. Plumbing problems can be hard to identify and locate because most plumbing is hidden behind finished walls. Not only does this mean it could be months or years before you locate that small leak, it also means fixing small problems requires you to tear down and rebuild finished rooms.

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Getting Rid of Movers Anxiety

Moving can be an anxiety-inducing process for most people. Relocation can be so overwhelming. It can make you feel like your head is going to explode. It involves taking care of many small details. It involves handling a lot of bigger tasks as well. Moving can be enough to make even the calmest people feel a little uneasy. If you want to do away with anxiety during the moving process, however, there are numerous easy things you can do. Feeling comfortable and at ease can make the moving process markedly smoother. A relaxed mood can make everyone around you feel a lot better as well.

Prepare, Prepare and Prepare Some More

Ample preparation is important for people who want to keep anxiety episodes at bay. If you feel 100 percent ready to take on all of the vital tasks that are part of the moving process, you won't be as prone to feelings of helplessness and vulnerability. Insufficient planning can make you feel out of sorts. It can force you to rush and do things at the last minute as well. That's always a recipe for mistakes galore. Make sure to purchase all of your necessary supplies long before you have to begin the packing process. Take the time to research all of the most reputable professional moving companies in your area, too. You don't want to have to settle for a moving company that isn't up to par. The more pressed for time you are, the more anxious you'll feel.

Recruit the Help of Your Pals

There's no doubt that relocation is a tough and stressful project. That's why you should never be...

What Seniors Should Ask Themselves When Purchasing a New Home

While some seniors believe that once they reach a certain age their home buying experiences are over, many are realizing that it doesn’t have to be this way. There are plenty of reasons for seniors to want to purchase a new home, but there are also some significant barriers that may arise. When deciding on the prospect of buying a new home, here are some important questions seniors must ask themselves.

What is my primary reason for moving and how do I buy smartly?

Before buying a new home, you need to know exactly why you’re doing so. With hundreds of thousands of dollars on the line in the transaction, it’s important to be 100% sure that the home you’re moving to represents a better living situation than the home you’re leaving.

If you’re moving because you want to downsize, make sure that the home you’re buying fits your living necessities. In other words, downsize enough to make the move worth it but don’t give up so much space that you feel cramped or find yourself having to get rid of too many of your belongings. Think carefully about how much square footage you use in your current home, and how much you can comfortably part with.

If you’re moving for mobility reasons, make sure that the new home will accommodate you. Does it have stairs? Is the outdoor area hard to navigate? Are the pathways in the new home large enough to accommodate mobility aids? There are ways to get...

What You Need to Know When Obtaining Financing for a Rental Property

Investing in the rental property business is one of the best decisions you can ever make. If you do it well, you multiply your wealth, create passive income, and also secure a great future for you and your dependents. However, the road to such financial freedom is not devoid of hurdles. For instance, having enough funds is one of the many aspects needed to profit on your investment. Many real estate investors, therefore, view financing as an attractive option.

First-time owners, however, find the idea of obtaining funding a bit daunting and confusing. Where can I get the funds, how easy will it be, how do I determine who is a good money lender, what requirements must one fulfill? And so on, are just some of the many questions that run through their minds.

The following article aims to help out such a person by shedding light into what an investor needs to know when looking for financing for his or her property.

Things to Consider Before Obtaining Financing for Rental Properties:

You must set aside a sizeable down payment

Many financial institutions will demand that you raise a considerable amount of down-payment, which is a percentage of the total financing you need. First-time homeowners, nevertheless, mistakenly think that their mortgage insurance will be sufficient to cover their investment property. However, reality soon dawns on them that it is not. For this reason, any prudent investor will set aside a significant amount of down payment. While different lenders...

Restoration Services: What To Do In the Event of Water Damage

Water damage to your Louisville property can be devastating, especially when it is unexpected. In order to prevent additional and future problems, you need to quickly contact an experienced Louisville commercial water damage restoration service provider to deal with the damage as soon as possible.

Steps to Take For Water Damage

Water damage can arise from a variety of different causes, such as severe weather, burst pipes, roof damage, and water leaks. These situations pose a serious risk to your property that is apparent. However, in other situations, it may be harder to find the evidence of water damage. Regardless of what type of water damage you are facing, it is imperative that you handle the problem quickly as possible.

Although Louisville commercial water damage restoration and clean up is best handled by professionals, below are some steps you can take to help avert further disaster:

  1. Access the source of the damage. Knowing the source of the damage will allow you to identify the problem and help reduce the overall damage. For example, if the water damage was caused by a leaking pipe, you can close the main water valve.
  2. Turn off the electricity. Turning off the electricity will prevent devastating problems by not allowing the water to mix with electricity.
  3. Dry out the area. After you have stopped the inflow of water, you need to dry the wet area as much as possible and as quickly as possible to avoid other problems such as mold.
  4. Assess the damage. Water damage clean up is a big job, especially when there is major damage.

Call The Louisville Commercial Water Damage Restoration Specialists!

If you have water damage and need a professional to expertly deal with the problem, call the ...

Historic Piece of Louisville Real Estate Receives Recognition at Last

A parcel of land called "the single-most important piece of real estate" in Louisville by one local historian is finally getting the recognition many feel is long overdue. The former site of Fort-on-Shore, the first mainland building and settlement in Louisville, has long been overlooked as other nearby Revolutionary War sites received recognition over the years. At long last, that slight is being corrected, thanks to the efforts of local historians. A state historical marker was dedicated on the site in the Shippingport warehouse district west of downtown between the Ohio River and Main Street. The historians wanted to correct the mistaken assumption that nearby Fort Nelson was Louisville's first settlement on the mainland. The new historical marker rightly indicates that Fort-on-Shore was built in 1779, a full three years before Fort Nelson was built. Local historian and Metro Councilman Tom Owen hoped that the new designation would spur interest in redeveloping the Shippingport area. He said, "There have been so many dreams about reclamation there." If you've been dreaming about reclaiming a piece of Louisville real estate for yourself, let the experts at Louisville Properties help you achieve your dream. We've been helping people in the area buy and sell residential and commercial real estate in the Louisville area for years. We value our relationships with local residents and businesspeople, and we have our own history, a history of outstanding customer service and always going the extra mile for our clients. If we can help you find the perfect piece of Louisville real estate or the perfect buyer for your real estate, please give us a call at 502.744.9504 today, and let our expertise help you make it happen!...

Local Building Reopens With New Purpose and a Very Different Clientele

A small building on McHenry Street that once housed the offices for the Louisville Textile Mill reopened recently with a very different purpose. The building in Louisville's Germantown neighborhood is the new home of Germantown Daycare, which will be able to care for up to 115 children between the ages of six months and 12 years old. The building's owner, Richard Morris, took extra care to retain the building's unique character during recent renovations. He said, "We left a lot of the art deco decor here and many of the outdoor features. When we came in and looked around, it was several smaller rooms that led into a bigger room. It just seemed to lend itself to what we needed." The new daycare opened on September 20, but renovating the 37,000-square-foot building presented some very serious obstacles for the new owners. Walls up to a foot thick required removal to create play areas for the kids, and obtaining zoning approval for the renovations and the building's new purpose presented challenges as well. Residents of the Germantown and nearby Schnitzelburg neighborhoods rallied for the new owners, leading a petition drive and contacting city officials to allow the new owners to proceed with plans. Area residents said that a nearby daycare is essential for the young families moving into the area and are very pleased that this resource is now available for their community. In a time when residents and the Louisville real estate market are struggling with so many difficulties, this story is a fine example of the good things that can happen when people work together toward a common goal. If your goal is to find the perfect piece of Louisville real estate for your next home or business, call us at Louisville Properties today at 502.744.9504!...

Safety Tips for Your Louisville Home This Holiday Season

As we get closer to Christmas and New Year's Day, we thought we'd pass along some holiday safety tips to keep your family and Louisville home safe and happy this holiday season. Let's start with the Christmas tree. If you're buying a live tree this year, make sure that you do the following:

  • Buy a fresh tree with needles that bend and are not easy to pull out.
  • Keep the base of the tree immersed in water at all times to keep it as fresh as possible and give your Louisville home that great piney smell.

Check all your strands of lights for frayed ends, exposed wires or cuts. For all trees, make sure to remember these things:

  • Use only indoor light strands on your tree.
  • Don't overload outlets by plugging in multiple power strips or extension cords.

Also, bear in mind that thieves can be as busy during the holiday season as you are! Follow these tips to make your Louisville home less attractive to thieves:

  • Vary your daily routine as much as possible and practical.
  • Leave a TV or radio on, and use timers on lamps (remember to adjust these every few days).

Never post that you're going to be out of town on your Facebook page or any other social media outlets. ·    Ask trusted neighbors, friends or family members to housesit or stop by frequently while you're away. All of us at Louisville Properties want to wish you and yours a very safe and happy holiday season. If you're thinking about buying or selling a Louisville home, please give us a call at 502.744.9504 or fill out one of our contact forms for a fast reply! Happy Holidays everyone!

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Home Prices Drop 3.2 Percent in Third Quarter

Real estate analysts from the Federal Housing Finance Agency are claiming that lower demand and the expiration of the homebuyer tax credit are continuing to put downward pressure on home prices across the country. Home prices fell 3.2 percent in the third quarter of 2010, down significantly from the same quarter in 2009. The agency said that Atlanta suffered the greatest decline in prices among the 25 largest metropolitan areas of the country with a 10 percent drop in home prices. San Diego posted the biggest gain with a 4.6 percent jump. Overall, home prices fell in 40 states compared to the third quarter of 2009. Idaho, Georgia, Arizona, Oregon and South Carolina led the declines in residential real estate. One analyst had an especially gloomy forecast for the nation's home prices for 2011. Celia Chen, a Housing Analyst with trend watcher Moody's Analytics, did an interview before the release of the Federal Housing Finance Agency's report. She said, "Our overall expectations for home prices is that they'll drop by another eight percent by the third quarter of next year." We'll have to wait and see whether or not Ms. Chen's dire forecast is accurate, but it is certainly an accurate snapshot of the current mood of home sellers whose homes have been languishing on the market for months. If you're trying to sell your Louisville home and are looking for an experienced, proactive Louisville real estate agent to help make that happen, please give us a call today at 502.744.9504. Louisville Properties has been helping people sell Louisville homes in all kinds of market conditions for years, and we use our resources and...

Obama Administration Says Banks Can Restart Foreclosures

Despite mounting evidence that many of the nation's mortgage lenders failed to follow due process when foreclosing on millions of homes, the Obama administration's top housing official has told lenders they may resume foreclosing on homes. The announcement follows a temporary moratorium that gave troubled homeowners a small respite from foreclosure proceedings. Taking their cue from the feds, two of the biggest players in mortgage lending.  Bank of America Corp. and Ally Financial Inc.'s GMAC Mortgage unit, resumed foreclosing on delinquent home loans two weeks after the temporary halt. Others are expected to resume foreclosures in the near future. At the center of the issue is the concept of property ownership and the conditions that allow a mortgage lender to seize a piece of property from an owner. The laws are very clear about how and when a lender can foreclose, and it appears that lenders, attorneys and others involved in the foreclosure process failed to execute due diligence. The sheer volume of homeowners walking away from or otherwise defaulting on their mortgages buried people in these positions, and we know now that some of them signed more than 1,000 foreclosure authorizations in a day. This is dangerous as it clouds the facts regarding who has the true ownership of some foreclosed properties. The ramifications of these shortcuts have yet to be seen, but the moral of this story is the importance of buying good title insurance when buying a Louisville home. Your insurer has an obligation to research and disclose who holds the deed to a home, whether or not there are any liens against it and other critically important information. For more information about the importance of title insurance and the area's best selection of residential and commercial real estate, call Louisville Properties today at 502.744.9504.

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Spring and Summer Maintenance Guide for Your Louisville House

Like car repairs, toothaches and many other things in life, the more you ignore a small problem with your Louisville home, the bigger and more expensive it will eventually become. In order to keep your Louisville house in great condition and protect your investment, there is some routine maintenance you can do each spring and summer to stay on top of things. To that end, here are some easy and inexpensive maintenance tips:
  • Clean your gutters and downspouts and make any needed repairs. Everyone knows that leaves and twigs clog gutters and spouts and result in serious water damage. So check and clean them out in spring and late fall.
  • Thoroughly inspect your roof and replace or secure any loose or missing shingles. Pay special attention to any aluminum flashing, and make sure that it is flush against any chimneys, gables or other features of your home.
  • Speaking of chimneys, closely examine the one on your Louisville house and look for missing mortar, cracks, loose bricks and other signs of damage. If you find any damage, call a reputable contractor and get it taken care of as soon as possible or you're asking for big trouble and bigger repair bills.
  • If there are places around your home where water is pooling and not draining away, this is a potentially serious problem and you should address it ASAP. There are many different ways to create drainage systems, so conduct some research and determine which one will be best for your Louisville home.
  • Slowly walk around your home and look for any gaps or damage to its siding. Water can get in through gaps and then freeze, creating serious damage. Fix or replace any loose or missing siding as soon as possible to protect your home.
These are all very basic home maintenance remedies, but they can make a big difference over time. If your current Louisville...
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