Western Real Estate news covers current information on commercial and residential real estate in the entire U.S. from East Coast to West Coast, Alaska to Hawaii.
When it comes to real estate search, think local, not national
January 14th, 2010
Why home buyers should use local real estate sites When it comes to searching for homes for sale, it is absolutely essential to use the best tools for the job. While name recognition and a big marketing budget help drive people to the big national real estate sites, those people don’t know their home search efforts are being hurt by poor data.
Too many house hunters start by looking at the big national sites for property, but that is not generally the most complete source of real estate listing data. National real estate sites frequently confuse their visitors with stale listing data that is sometimes months or years old–properties that aren’t available and haven’t been for quite some time. Worse still, some listings that are on the market will not be show on the site.
This can be a big frustration to home buyers searching for homes. For instance, if a buyer is searching for Portland homes for sale, but is spending hours each day looking on a national site for Portland real estate, they may be wasting hours of their precious time with incomplete or outdated data. Suzy Homebuyer finally thinks she found the perfect home for her family, shares the listing with her husband, and makes contact with a Realtor® about the listing, only to find that the listing was sold or removed from the market six months ago.
This is quite common, actually – and there is a lot of debate among professionals about how realty data is stored and disseminated on various sites. The old listing benefited the real estate website owner who got a lot of traffic on the site as result of the stale data. It also benefited the agent who advertised on the site and sent the buyer to inquire about the listing. But the end user certainly wasn’t benefitted.
The best way to make sure you are not wasting your time by search for Portland homes or any other real estate is to make sure you are searching on a local site, not a national one. The fact is that there isn’t a service available that reliably displays listings on a national scale in a fresh and timely manner – but there is a local technology for doing it. It’s called the Multiple Listing Service (MLS), and a real estate agent who is a member can provide you with access to search the complete MLS database of homes for sale – and they will be fresh, accurate listings. It’s just a matter of using it.
Galesburg commercial property
November 15th, 2009
There are many types of Galesburg commercial properties available to the Illinois real estate investor. Whether searching for raw land for a commercial development, or acquiring a retail property for a growing local restaurant, there are both opportunities and challenges for the investor.
When performing due diligence in researching areas for potential Galesburg real estate investment, one of the first areas one should consider should be commercial property near Sandburg Mall. The mall is a perfect location for many business types due to its location in Galesburg and proximity to Galesburg local amenities that draw residents to the mall area.
About Galesburg, IL
Galesburg is a city of 17 square miles and a population of close to 33,000 people. Located in Knox County, Illinois, Galesburg is about an hour west of the population center of Peoria, IL. There are some great locations and values in real estate for residential and commercial development in Galesburg, and the Sandburg Mall is one worth noting.
Sandburg Mall Location
The Sandburg Mall in Galesburg is located just two miles west of I-74, just south of IL-34. It is a commercially viable district for Galesburg commercial property development in part because of its location near these two major highways. The mall sits just a few blocks south of Lake Storey, a popular lake just north of Galesburg that has homes, a park, a nearby medical center, and other amenities.
Other retail establishment
The Sandburg Mall is anchored by JC Penney, and has other retail stores such as Christopher & Banks, Bath and Body Works, Radio Shack, and the popular Sandburg Cinema. There are also numerous local restaurants and national restaurant chains to bring locals to town for food. Some of the restaurants in the vicinity are Applebees, Perkins, and Acapulco, with fast food fare such as Arby’s and Pizza Hut.
For the investor or small business wanting to expand operations into an established area for a new real estate development, property near Sandburg Mall may be the perfect choice.
Newbury Park, CA Homes
October 19th, 2009
Newbury Park is a nicely developed community in the west end of Conejo Valley. It is on the high end of the economic scale, with its median home values high enough to rank it as the most affluent neighborhood in Ventura County.
That is enough to also place it as one of the most affluent areas of the country, with median home prices upward of $700,000, even after the downturn following the most recent peak prices in 2005. Home prices in the last decade increased two and a half times on average in Newbury Park, with some exclusive Newbury Park estates reaching prices over $2.8 million.
The neighborhood is actually a part of Thousand Oaks, and is governed for the most part by that city’s government. Casa Conejo is the exception, however, which is an unincorporated part of Newbury Park, and holds the distinction of being the earliest residential development in Newbury Park. Casa Conejo, as an unincorporated area of Newbury Park, is not part of Thousand Oaks.
Newbury Park is known for its excellent schools, and is part of the Conejo Valley Unified School District. Other local amenities in the area include world renowned mountain bike trails and an abundance of open space in the Conejo Valley. Residents are known for placing a high value on preserving natural outdoor areas, which has led to a high quality of life for Newbury Park residents. As a result, Newbury Park homes are generally considered a great investment in addition to being a great place to raise a family.
While older neighborhoods have not been developed for decades, there is a small supply of new homes in Newbury Park. Dos Vientos is a newer master planned development that has only recently reached its final phase of construction. The last remaining ongoing housing development in Newbury Park is called Rancho Conejo Village, and is being built by S&S Homes.
The Rural Illinois Real Estate Market
October 15th, 2009
The rural Illinois real estate market, while experiencing many of the same ups and downs as the rest of the nation during recessionary times, can tend to be more stable than many other markets in the country. Large metropolitan markets, of course, are usually the first to drop when there is a pullback in real estate prices, and big cities in Illinois are no exception. Some of the more rural markets, however, have less extreme fluctuation in prices.
Buyers looking for a reasonably stable investment should consider purchasing Galesburg or Dahinda real estate. You should always consult qualified investment advisors and tax professionals before making financial decisions such as this, but the Galesburg and Dahinda areas have some great places to live and may help you avoid some of the price extremes that other parts of the country have experienced.
Galesburg is a mid-sized town of about 33,000 people, and a friendly Illinois community to live in. Of course, Illinois is a friendly state, with beautiful rolling hills, scenic rivers, and well-stocked lakes for weekend recreation. Galesburg residents are never short of things to do – there are activities for all interests, from outdoor sports such as hunting, fishing, boating, and mountain biking, to pastimes such as car shows, museums, and model railroad shows. In fact, one of the largest model railroad shows in the country convenes in Galesburg each year at the Railroad Days Festival.
Best of all, Galesburg homes are affordable. With plenty of homes in the $100,000 price range, families can still afford to move to Galesburg and enjoy its small town charm. The cost of living is low compared to some other parts of the country, and as a college town with Knox College and Carl Sandburg College nearby, education is close at hand. For families or retirees looking into purchasing property in the Illinois real estate market, Galesburg real estate may be the perfect choice.
Government Camp Oregon: A mecca for winter sports
October 15th, 2009
While Government Camp real estate is popular for vacation homes and cabins, it is an undiscovered paradise for winter sports enthusiasts in particular. It’s true that a significant year-round residential base gives the area some deep roots of citizens who care about their home in the beautiful Oregon forest. But there is no season like snow season in Government Camp.
The community sits in an unincorporated area of Clackamas County, OR. It is located in the Mount Hood Corridor just north of one of the most uniquely named mountains in the world: Tom, Dick and Harry Mountain. Not just any Tom Dick and Harry, mind you!
It is a very close to several regional ski resorts. There is Timberline Lodge, about fifteen minutes away. Then there is Mount Hood Skibowl right in Government Camp, and its own smaller ski resort, called Summit Ski Area for newbie skiers. For those who just feel like driving, there is another popular ski resort near Government Camp called Mount Hood meadows. The Mount Hood Meadows ski resort is only twenty minutes away from Government Camp.
The ski resorts, of course, don’t even take into account the miles and miles of outdoor trails where snowshoers and cross country skiers can experience the beauty of the backcountry from a perspective that few get to do. So whether you’re a beginner or seasoned pro when it comes to winter sports, you’ll find plenty of action in Government Camp.
Government Camp is located on Interstate 26, also called the Mount Hood Scenic Byway. It is near the intersection of I-26, Oregon Route 35, and the Barlow Pass summit of the Cascade Range.
An added bonus is that Government Camp real estate and Mt Hood real estate tend to be reasonably priced. One can find Government Camp cabins and Government Camp homes to fit most budgets, and the beautiful environment will reward the home owner for many years to come.
Real estate investing in Winnipeg
October 12th, 2009
If you are interested in investing in real estate in Winnipeg, Manitoba, you should learn some basics of real estate investing first. There are as many investment strategies for real estate investing as there are investors, but they can be summed up into three major strategies:
- Flipping properties
- Income property
- Real estate development
Each category can be subdivided even further, of course, and we’ll cover some of those specialties here.
Flipping properties
Property flipping is a time-honored method of making money in real estate, but you have to be extremely careful. It is not for the novice investor, and the cable shows that follow property flipping entrepreneurs generally make it look far easier than it really is to turn a profitable deal.
If you are wanting to flip Winnipeg houses, you need to form a relationship very early with an experienced Winnipeg real estate agent who knows the market inside and out. The property flipping strategy boils down to arbitrage – i.e., recognizing price disparities between value and asking price, and acting as the middleman in the transaction. The important part is not to get stuck holding the property long term if you are not prepared to turn it into income property.
Income Property
If your investment strategy is to buy Winnipeg income property, you may want to consider shopping for Winnipeg foreclosures and short sales. As an investor, you need every advantage you can get to purchase the property as cheaply as possible so your monthly payments will be low enough to allow a positive cash flow.
It is important to research the rental market to be able to price your monthly rents attractively enough to have minimal vacancy period after the property is purchased. Ideally, you should start advertising to get rental prospects interviewed while the property is in escrow.
Real Estate Development
Another form of Winnipeg real estate investing that may fit your investment goals is real estate development. This strategy can include commercial real estate or residential tract development. This is a difficult business in most markets, and requires some experience to be able to efficiently build and price the property for a profit. In a rising market, many investors flock to real estate development. The savvy real estate developer under ideal conditions has already invested before a bubble forms. That means the best time to invest in development property is during periods of depressed property prices.
Profitable Colorado short sale investing
October 12th, 2009
Many novice real estate investors may be surprised to learn that short sale investments are not guaranteed to be profitable. Of course, no investment is guaranteed. But many presume that buying a property at a steep discount below the current mortgages held on the property is a sure-fire way to get rich. It’s not.
Why isn’t short sale investing always profitable, whether it’s in Florida short sales, California short sales, or Colorado short sales? Because the reason the property is a short sale in the first place is that its value was over-inflated by the lenders in order to lend more money against it. Just because you are buying it cheaper than it was valued previously doesn’t mean it can’t be valued even less in the future.
All this is not to scare you away from purchasing short sales as investment property. It is only to underscore the need to get an experienced short sale negotiator on your side when making an offer on a short sale property. It’s important to find someone local. If you’re looking for a Denver short sale, find a Denver agent who is a short sale expert. Without such experts working for you, you are likely to fall victim to delays, price hikes (that’s why it’s called a negotiation), and bureaucratic frustration from bankers who don’t want to be the business of selling real estate.
There are tips and tricks that only the experienced real estate agent, who has negotiated many favorable short sale purchases successfully, knows. A short sale specialist will keep you from offering too high. A successful investor knows that most of the profit comes on the offer not the sale of the property. Don’t put off your profits until the sale.
Make an offer that makes your investment strategy work, don’t rearrange your investment strategy around the specifics of the deal. If the deal doesn’t match your criteria, or the bank doesn’t want to play ball, walk away. There are many others short sale properties to choose from. The right bank with the right owner in the right situation will make the deal you need to earn a respectable profit off of your investment, whether your strategy is flipping short sales or holding short sales long-term as rental property.
Living in Ventura County
September 20th, 2009
There are many wonderful places to live in Ventura County if you know where to look. Even if you are new to the booming area west of Los Angeles, it won’t take long to see why so many people from all walks of life call Ventura County home.
You have any type of lifestyle imaginable available to you in Ventura County, from luxurious beach living to a condo starter home in the city, and everything in between. And believe me, there is a lot to choose from in between those two extremes.
Rural living in Ventura County
Believe it or not, there is still considerable open space and comfortable rural living in Ventura County, with a significant amount of tax revenue generated by agriculture. In fact, according to the Ventura County Farm Bureau, one in ten jobs in the region are dependent on agriculture, with $75 million in tax revenue coming from that sector each year. This means there is plentiful land for those who want a little more open space than the typical Angelino might be able to find.
Jobs in Ventura County
One of the great things about the region is that there is an amazing amount of diversity of lifestyles and economies to choose from when picking communities in Ventura County to live in. Families can still find open areas of land to build secluded Ventura County ranches, or upscale bedroom communities with great schools and an easy commute to the abundant employers nearby.
Some of the largest employers in Ventura County include Amgen in Thousand Oaks, the U.S. Navy, with its Naval Air Warfare Center in Point Mugu and its Naval Constructin Battalion in Port Hueneme, Baxter Bioscience and Healthcare in Westlake Village, Blue Cross of California in Westlake Village, and Harbor Freight Tools in Camarillo.
Places to live in Ventura County
Some of the nicest places to live in Ventura County include Thousands Oaks, Oak Park, and other parts of the serene and scenic Conejo Valley. Thousand Oaks homes, and other neighborhoods like Oak Park, Newbury Park, Agoura Hills, and Westlake Village have great stability of property values, and award-winning schools schools.
Other areas of Ventura County include Camarillo, Fillmore, Moorpark, Ojai, Oxnard, Santa Paula, and Simi Valley, to name a few.
About Galesburg, Illinois
September 18th, 2009
Galesburg is a great family-friendly community in Illinois, less than an hour from Peoria, and only 15 minutes from Dahinda. Galesburg homes are within commuting distance of Peoria, but are also close to wilderness recreational areas such as Oak Run for those who appreciate the great outdoors. Oak Run is a popular weekend resort for camping, fishing and boating on Spoon Lake, golfing, and other outdoor activities – and the best part is that it is only half an hour away from Galesburg.
Galesburg was known as a strongly anti-slavery as a community since it was founded by a Presbyterian minister in the early 1800s, and was one of the original stop on the Underground Railroad. There have been a number of famous people who have lived in the town of Galesburg, including President Ronald Reagan, an NFL player, a congressman, a governor, and even the inventor of the Ferris wheel!
With a population of 33,000 in the 2000 Census, Galesburg has both the friendliness of a small town and the space of a larger town. There are approximately 17 square miles of land in Galesburg, with plenty of outlying properties where home buyers can purchase larger Galesburg lots or land and build their own family home.
The Galesburg economy has been tied to the railroad since its early days, when a group of local businessmen lobbied for the Chicago-Quincy railroad connection. The public school system is a good one in Galesburg, with Carl Sandburg Community College conveniently located as a great choice for secondary education when the kids get older.
Families will enjoy the many local festivals and events, like the annual model railroad exhibit (one of the largest in the country), the Great Cardboard Boat Regatta, the Annual Rubber Duck Race, the Stearman Fly-in, and much, much more. Because of the diverse economy and real estate market, the area remains a great location for investment in Galesburg real estate.
Scenic Ranch Land in Texas
September 16th, 2009
Texas hill country real estate has been proven to be a wise investment over past years, in spite of all the constantly fluctuating investment prices we see in the news. In fact, because of the wild swings in commodities and stocks, the Texas hill country in particular has provided relative stability and shelter, with some of the best investment quality Texas ranch land that is suitable for passing down to your children and grandchildren.
Scenic Texas Ranch Land
With everything the area has to offer, it is no surprise that considerable amounts of older hill country ranches have already been developed into high-quality Texas ranch property, subdivisions, and commercial properties. Nevertheless, you can still find excellent opportunities to acquire prime Texas ranch real estate and enjoy the financial and personal benefits of owning your own piece of Texas.
Texas Hill Country Amenities
There are highly rated universities, medical centers, shops and restaurants in the Texas hill country. You’ll also find some great amusement parks, wonderful golf developments in the scenic rolling hills, and plenty of river and lake access for water sports. Sportsmen have plenty of big and small game to hunt, and there is great fishing in the lakes and rivers.
The Bandera County and Kendall County region has an established high-tech and manufacturing base, which has allowed for steady population and job growth. This growth has continued to fuel demand for Texas hill country ranch property, whether for estates or commercial development.
Just where is TX hill country?
The area known as TX hill country is located outside the San Antonia and Austin area in Bandera County and Kendall County, TX. Texas hill country is known for incredible natural scenery, with lots of ranch property with river frontage amid scenic rolling hills. The Texas ranch properties and farms in the area have a variety of residence types, including luxury estates and comfortable family properties. You’ll find excellent beauty, climate, and location, with nearby amenities that have proven to be a worthwhile investment.