| |
| |
|
Real Estate Information |
|
|
|
If You Cant Afford to Retire...Move
According to Warren Bland, PhD, an award-winning author and geographer at Cal State, people have a great option. It's called "equity-take" that is, the difference in cost of comparable housing between your present community and the more affordable one to which you could move. So, if you are willing to make that move, you can pocket a good chunk of money instead of delaying your retirement. Consider the person hailing from Buffalo, NY, where the average upper middle class home sells for around $250,000. In Thomasville, Georgia, one of the most desirable retirement places in the Atlantic Southeast, many attractive single-family residences in beautiful neighborhoods are selling for around $140,000. This means that you could net about $100,000 (assuming your mortgage is paid off) by relocating from snowy Buffalo to sunny southern Georgia, and increase your annual net income by $5,000 by investing in, for example, tax-free municipal bonds at 5 % annual interest. People living in expensive metropolitan areas like New York, Los Angeles, the San Francisco Bay Area, Boston, Chicago and Toronto are in an even better position to use "equity take" to their advantage. The average price of upper middle class housing exceeds $1million in Manhattan, $700,000 in Los Angeles and the SF Bay Area, and is around $500,000 in Boston and Toronto. In contrast, home prices in many highly desirable cities and towns, suitable for retirement and located in all parts of the country, are more likely to be in the $150,000 to $300,000 range. Even a relocation from Manhattan to Boca Raton, Florida (one of Bland's "top ten" retirement picks), could leave you with an equity-take of $500,000. Investing that windfall in tax-free municipal bonds at 5 % annual interest, will increase your annual income by $25,000. As Bland says, "You can buy a lot of wine, gourmet food and entertainment with that kind of money"! Barbara Kimmel is an award-winning book publisher, publishing consultant and publicist. She is the publisher of Warren Bland's book, Retire in Style 60 Outstanding Places Across the USA and Canada. Books are available through all major bookstores, amazon.com or http://www.nextdecade.com
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Selling by Owner = Saving by Owner? According to the National Association of Realtors, For Sale By Owner (FSBO) home sellers comprised nearly 14% of all home sales in the United States in 2003. The Boston Globe reported that nearly 25% of homes sold in that area during that same time period were FSBOs. Subdividing - But NOT Land! Many people are familiar with the concept of sub-dividing a large piece of property into smaller lots. The same concept can be very profitable in other areas. Avoid The Traps Of Finance Most consumers are told where to get their mortgage because few people personally know and trust a mortgage or loan officer or correspondent (the same thing). It used to be agents would take their buyers out to find the house they wanted, then to their favorite mortgage company. Property Investing Secrets 4 Property Investing Secrets:How to Sell to 100% of the Market Place Using Lease OptionsWhen property investing, you will find if you make houses easy for people to buy, your properties will become easier to sell. Most people who are selling houses today are selling to the 80% of the population who have good enough credit to qualify for a bank loan. Don't Just be a Real Estate Agent, be a Professional! Buyer Broker Agreement? What's that? Most agents don't ask their potential buyers to sign anything. It is too?well?you know?uncomfortable. Do You Need to Download a Landlord Inventory On-Line Today? Do you need to download a Landlord Inventory on-line now? Why is it so important to have a Landlord Inventory?Firstly, if you are a landlord, you need to be prepared. As much as we all like to think we can trust everyone, it is very important that buy to let landlords protect their investment property as thoroughly as possible. Estate Planning Estate planning can enable you to control your property while you are alive, take care of you and your loved ones if you become disabled, and give what you have to whom you want, the way you want, and when you want, and if you wish, you can save every last tax dollar, professional fee, and court cost possible.Estate planners frequently begin the estate planning process by analyzing clients' personal and financial dreams, aspirations, fears and objectives. The Art & Science of Property Valuation -- Automated Valuation Models It is no secret that sellers want to sell high and buyers want to buy low. But they often arrive at the negotiating table with very different ideas on price. Buying A Home - Zoning and Architectural Review Board Restrictions When you buy a home, you need to be aware of the various things that can limit your control over the property. This is as true for finished lots and single family homes as it is for townhouses, condos, and apartments. Realtors: Forget Your Address? It's a large real estate agency, and the company depends on a steady stream of leads. The website is classy, with delightful graphic elements and layout. How Long Your Mortgage Runs Determines How Much You Pay The first thing most of us think about when the time comes to take out a mortgage on a new home is the interest rate.That's both perfectly natural and very sensible. Negotiating and Sales Skills Are Critical When I first started getting active in creative real estate, my skill set at negotiating was very weak. I had done the telemarketing thing for American Express as a financial planner and had studied and learned a few techniques. Howard Stern is Hot in Real Estate Howard Stern has over 20 property related files in Queens, 27 in Brooklyn and 1 in Manhattan. The files include mortgages, releases or satisfaction pieces, liens and powers of attorney. What You Can Do To Sell Your Home Fast Yes, you want to sell your home and you want to sell it fast. It may be a seller's market and every other home in your neighbourhood is selling and you think it's going to be a cakewalk selling your home. Staging Homes for Top-Dollar Sales Wouldn't it be nice to have Roger Hazard's design team from "Sell This House" come visit for a weekend?Many "redecorators" and designers offer "Staging Homes" services from $250 to $5,000. These services usually give good advice, some help with the actual work involved, and others even move in new furniture for you. Real Estate Investing - Maximum Leveraging of Your Money At this moment, you have access to some amount of money, from the extremes of only pocket change to the reserves of Bill Gates or Warren Buffet.Suppose you want to invest your funds into some vehicle that will multiply the return. Rehab Your Way to Wealth: The Quick Way to Fixer-Upper Success Completely rebuilding a house is not necessary to make money in investment real estate. Most times, if you have bought smart, you won't have to make a huge improvements on your investment property. Sell Your Home Without a Realtor and Save Thousand$$$ A typical real estate commission on a $234,000 home (national median price for all existing homes as of July 2005) is over $16,000. In many areas the cut a real estate broker gets is much higher. Buying a House in Scotland Buying a house in Scotland is slightly different from buying a house in other parts of the UK. It's not particularly complicated, and buying north of the border can often be quicker, but for those relocating from England and Wales there are a number of points you need to bear in mind. Real Estate Investing: How to Choose a Lender To become a successful real estate investor it's vital to have a long-term relationship with a good lender. Having a flexible lender who knows your needs and objectives can be the difference between success and failure in your investment career.
|
| home | site map |
| © 2006 |
