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11 Different Ways to Participate in The New Millennium Real State Boom
Many parts of the country are going through a real estate boom. In recent reports real estate is showing double digit growth in many parts of the country. In still many other real estate growth is outpacing inflation. 1 - Real Estate Agent Real Estate agents are responsible for the vast majority of Real Estate Sales, Matching qualified buyers with eager sellers. 2 - Mortgage Broker A good mortgage broker will represent 10 or more lenders. Each lender may have dozens of loan programs. The job of the Mortgage broker is to find the best loan for each client. 3 - Loan Originator A loan originator or loan officer will work for the mortgage broker and help the client choose the best loan for their situation. 4 - Title Officer A title officer will issue a title insurance policy on Real property. The purpose of the title insurance is to protect the buyer and the lender in the event there are claims against the property that weren't settled at time of purchase. 5 - Loan Processor A Loan Processor often gets paid a salary as well as a bonus for each funded loan. Loan Processors do all the paper work to push a loan thru. 6 - Loan Underwriter The Loan Underwriter works for the lender and makes sure the borrower meets the loan qualifications 7 - Appraiser An Appraiser will place a value on the house that will be used by the lender to determine the amount of money they are willing to lend on a property 8 - Home Inspector A home inspector will often look over the house to find any problems prior to the close of the sale. The buyer can then negotiate with the seller to get some or all of the major problems fixed. 9 - Insurance Agent Lenders require a Home Owners Insurance policy. Often new homeowners will also purchase, Flood, Mortgage life and earthquake insurance as well. 10 - Escrow Officer An escrow officer works for an escrow company. An escrow company is a neutral 3rd party that holds and disperses the funds to ensure a smooth transaction 11 - Real Estate Lawyer Many Real estate transactions require the services of a lawyer About the Author Get Mike's Newsletter Here Copyright © 2005-2006 Mike Makler
MORE RESOURCES: Meet the real estate broker’s interns: an ambitious group willing to do anything, earn nothing and wake up early on a Sunday to fluff the couch cushions at open houses. In Manhattan, parking lots and garages are making way for all sorts of development, especially luxury condominiums. Gray Burton lives in a 250-square-foot space he furnished with antiques he’s been collecting for years. MacKenzie Thompson’s plan to buy a multifamily house in foreclosure did not pan out. She decided to buy a home in Westchester County. A photogenic Westchester suburb with high-profile residents is also known for its art museum and a performing arts center. A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo. A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y. Wealthy investors are wiring millions of dollars to New York to snatch up a piece of 157 West 57th Street - what will be New York City's tallest residential building, with 90 floors overlooking Central Park. An apartment at the Trump International Hotel and Tower, opposite Central Park, was bought anonymously through a limited liability company. The anchor of a proposed historic district will surely be a clutch of four mansions at Riverside Drive and 72nd Street. Success in challenging property taxes means not having to put as much money aside in the escrow account. Taking responsibility for a roof leak; a bank loan for capital repairs; lender says no to co-op sublet; next time, don’t forget the key. Summerview Square is a town-house-style apartment project going up in Norwalk after a previous developer walked away, leaving squalor in his wake. A drop in prices and low interest rates means many buyers on the Island can afford to wait. In Hudson County, developers are working on several projects that would add thousands of units in waterfront communities like Hoboken, Jersey City and Weehawken. A development in Austin, Tex., is an ambitious attempt to upend the conventions of the American subdivision. A town house in New Orleans, a penthouse in Baltimore and a ranch house in Washington. Housing prices continue to fall nationwide, with Atlanta earning the distinction as the weakest performer. The financial crunch has been felt in Aruba, but not severely enough to cause large numbers of foreclosures and short sales. A new law that allows businesses in Philadelphia’s Market East district to draw revenue from large digital signs has drawn attention from developers. With its concentration of pharmaceutical giants and academic powerhouses, the region could be a major center for life sciences businesses, developers say. The president of the New York Building Congress, which represents professionals in the construction industry, has been running the nonprofit association since 1994. A frenetic little industry has taken root in New York City based on finding and publicizing the once-and-future homes of just about anyone with name recognition. The plan for a business improvement district in SoHo would help with the trash problem, but some residents don’t want to cede more ground to tourists and real estate titans. A Ditmas Park co-op, Upper East Side co-op and an Upper West Side condo. A 10-year-old house with six bedrooms in Montvale, N.J., and a renovated four-bedroom in Bronxville, N.Y. Properties in New Orleans, Baltimore and Bellevue, Wash. You want them, you need them, and these power tools will pay for themselves. One man’s discovery of the vast powers of the drill. An abandoned log house with a sinister air, the Smith Mansion in Wyoming is the stuff of legend. Chris Hacker, the chief design officer at Johnson & Johnson, shops for hot water bottles that can come out from under the covers. Should I remove the family photos hanging on my wall before listing my apartment? An architect and an interior designer have created an online database of hazardous building materials. The handmade house, doughty and particular, is being celebrated in three new books. Beginning Friday, the NoLIta store Haus Interior will host Wood Shop, a pop-up store created by David Stark. Compare the cost of renting and buying equivalent homes. |
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