Posts tagged: property in dubai

Commercial real estate financing is currently being used for many different types of profitable business ventures: office buildings, retail outlets, apartment complexes, storage facilities, and the list continues to grow. At the present time, business loan rates are still reasonable enough to capitalize on the hospitality hotel/motel industry as well; business loans are also being used by investors to purchase storage unit facilities across the country, meaning that opportunities abound for those who are interested in making some serious money.

As the state of the economy moves well past its recovery stage, commercial real estate financing is helping new business owners get established, while the seasoned veterans are taking advantage of refinancing via expansion.

Becoming familiar with a business loan calculator can help newer company owners get a quicker handle on their finances. Office building and/or storage facility owners opting for adjustable rates will likely see their numbers fluctuate a bit more than those who’ve signed on for fixed business loan rates. Either way, having access to an online business loan calculator is a great way to keep things in check.

Quite a few commercial real estate financing recipients have invested in office buildings and/or storage facilities for a few good reasons: constant cash flow, low maintenance, and the ability to build equity for future endeavors. These types of contracts fall under the category of small business loans, yet the term small may be somewhat misleading. The idea of starting out small is a noble concept; however, semantics has little or nothing to do with actual profit margins that can allow for expansion. In such cases, construction loans are designed for growth and bigger business on the whole.

Commercial real estate financing at the onset is generally orchestrated for all types of small businesses, meaning that company owners can either maintain operations at a slower pace with steady growth or shoot for the moon when the time is right. No matter the case, small business loans can also be used in other areas, such as corner store strip malls, hotel/motel operations, or apartment building ownership.

The hospitality business can be extremely lucrative, especially when each respective facility provides prospective patrons with amenities galore. When investing in the hotel/motel forum, funding from commercial real estate financing can allow owners to create state-of-the-art facilities, which also falls in line with a number of construction loans used for renovations. The initial investment-to-turnaround timetable may depend upon the location and the climate, which is when doing some detailed research may come in handy. Densely populated areas with temperate climates are ideal for travelers both near and far, and yes, it’s true; location really does matter.

Strip malls, on the other hand, require less involvement, yet making sure that each space is occupied should be a primary concern. With this type of commercial real estate financing, the same small business loans principle applies when investing in apartment complexes. Offering incentives and low move-in specials can increase occupancy and retain tenants as well.

The above-mentioned investment opportunities are merely a drop in the bucket when compared to the thousands of business loans that have already been approved and are now operational. With business loan rates remaining relatively reasonable, staying in the black and beyond is more than just a possibility. Going a step further may also be in the cards for investors who have higher expectations. Commercial real estate financing is now available for those who qualify and who can supply the proper financial documents.

Bank owned property is a great way to buy real estate at discounted prices. Bank foreclosures consist of residential homes, commercial properties, and vacant land. Whether looking for a first home, vacation house, investment property, or business real estate, bank owned properties might be the perfect solution.

In order to purchase bank owned property, buyers must present offers through the bank’s loss mitigation division or assigned realtors. When banks control multiple foreclosures they often use local real estate agents to list and show properties, and present offers. Buyers should be aware that banks rarely deviate from the asking price unless extensive repairs are revealed during property inspections.

Banks often take a hard financial hit during the foreclosure process. The average loss per foreclosure property is estimated at $60,000. The primary goal of banks is to recoup the bulk of losses when selling repossessed properties. Buyers should plan to offer the full asking price or slightly below.

The majority of real estate foreclosures require repairs. This is particularly true of residential homes. Sadly, foreclosed homeowners often retaliate against lenders by causing property damage. It is not uncommon to find appliances removed; flooring and walls destroyed or defaced; or broken windows and plumbing fixtures.

Real estate prices are based on current market value and adjusted according to required repairs. Buyers must do due diligence by obtaining property appraisals and home inspections. Repairs discovered during home inspection that were not recorded in original documents can be used to negotiate the purchase price.  

Bank owned property is typically priced at least 10-percent below market value. However, options exist that allow buyers to obtain additional discounts. The first involves buying homes through Fannie Mae’s Home Path Mortgage program.

This government sponsored mortgage financing program offers a wide range of discounted foreclosure properties. Many of the homes for sale are located in areas witnessing a higher than average rate of foreclosure and may qualify for Neighborhood Stabilization Program grants offered through HUD.

Fannie Mae established Home Path to liquidate their nationwide inventory of bank foreclosures by offering special financing options. Home Path can be a good choice for buyers with bad credit and those who cannot afford down payment requirements associated with conventional home mortgage loans.

Home Path requires a minimum 3-percent down payment and allows borrowers to obtain down payment assistance from outside sources; which is prohibited when obtaining financing through conventional lenders. Program details and foreclosure property listings are provided at HomePath.com.

Another way to buy bank owned property at discounted rates is by seeking out real estate investors who buy bank portfolios. When investors purchase foreclosure properties in bulk they obtain wholesale pricing which leaves them room for profit while selling real estate below market value.

Last, but not least, buyers should consider looking for bank owned property that has been on the market for 60 days or longer. Banks will sometimes negotiate prices when real estate has become stagnant or when no one submits an offer.

Using grants in conjunction with Fannie Mae foreclosures or wholesale real estate can further maximize savings and return on investment. Those who take time to research options and become educated about the process can potentially save upwards of 30-percent or more.

It is best to obtain information from renowned mortgage financiers and government agencies or real estate lawyers and investors who specialize in buying and selling bank owned foreclosure properties. 

The world is a global village now and so it makes sense that people have started investing in international real estate. There’s a certain charm to this move but more than charm, this smart move can help strengthen your capital flows. We understand the importance of global investment strategy and it’s time that you too understand what this option can offer to you.

Most people hesitate to invest internationally because of geography. Property investing is generally a long-hold investment strategy and it’s the long distance that generally makes people uncomfortable while investing in international real estate. But there are certain benefits for global diversification on a real estate portfolio. Let’s look at a few.

Investment Diversity

Being a secure and hard asset, real estate has always been a preferred investment choice for people all over the world. With many fast-growing international real estate markets, this investment opportunity is too good to miss. Investors can enjoy low interest rates and avail a variety of lending options. And with a professional team to back you up, these investment opportunities can be the perfect addition to your diversified portfolio.

With this new financial step, you can have another stream of income. That’s the best part about this investment. It can generate income and even appreciate in value over time. The exchange rate can help you make a hefty promise every time. If you are investing in countries with a higher currency rate than the USA, your investment portfolio is surely going to enjoy the benefits. The change in interest rate also has a significant impact on making international property investments a lucrative financial move. Since each property has an intrinsic value, your investment would never go to waste. This is just one of the properties that set international real estate apart from other investment options such as stocks.

Risk Management

So what makes investing in international properties such a glorious option? The best part of this move is the diversification of risk. When you put all your eggs in one basket, there’s a higher risk of losing it all at once. By spreading your investment over several international real estate properties, you can significantly reduce the risk. The real estate market is dynamic and always in transition. Even the slightest economic change can have a drastic effect on your investment choices. These effects can either be extremely beneficial for you or leave you at the brink of bankruptcy.

By investing in international properties, you can easily diversify your portfolio and give it a global edge. Since the international housing market tends to operate differently, a decline in one market can cause a significant increase in the other one. With this contrasting nature of the international real estate market, you are bound to gain great benefits.

Ancestral Roots

When you are looking for some international real estate investment opportunities, why not try and connect to your roots? For many of our clients, the first option for investment is mostly their ancestral country. Their way of paying tribute to their heritage is by investing in their ancestral country. This way, they can always have a place to go back to when they want to experience the life that their ancestors lived.

For many people, this is a lucrative option because it gives their children a chance to know their heritage. People whose ancestors immigrated to the USA often go for international real estate investments in their home country. This is a great reason for choosing the right international real estate. As long as the real estate market in your home country isn’t in a steady decline and is showing great potential, including it in your investment portfolio would be a good call.

Recreational Value

Investing in international real estate doesn’t just create new income streams but also provides you with the perfect vacation home. So when you are looking for opportunities to diversify your portfolio, make sure you go for an option that can serve well as a vacation spot. Even though the main reason behind this investment is purely financial, buying the right property can also add a recreational value to your investment.

If you love the great scenery of ice-capped mountains of a vacation spot, you can turn this passion into a great investment opportunity. There are some countries that allow foreigners to own property and you must be prepared to take full advantage of this prospect. Contact MyLifeWorldWide.com and let our professionals help you get a diversified portfolio for international real estate.

Cultural Diversity

This is a great opportunity to experience other cultures. Become a local at the place and you’d be able to explore the region to your heart’s content. Your overseas property can provide you with new experiences, enabling you to explore some other parts of the world. If you have the desire to experience cultural diversity, your international real estate portfolio can help you with that.

Residency Eligibility

Owning a property in a country can often make you eligible for residency and/or assist you in a naturalization application. With this change of status, many doors in the country also open up for you. You can get access to the country’s banking and financial services industry. You can use this opportunity to divide up your fortune and taking advantage of the profitable banking

prospects.

Investment Security

Unfortunately, retirement funds in the USA are subject to some strict laws and many people have already bore the cost of these policies. Your retirement fund can come under the threat of lawsuits and creditors, hence leaving you vulnerable at the later stage of life. For availing the ultimate retirement fun with security, it’s imperative that you invest abroad. Your diversified portfolio of international real estate can’t be subjected to the laws of USA and even the IRA can’t attack them in any way.

Your properties in the USA might be at risk of lawsuits but your international real estate is insulated from this risk. This is one of the best reasons for you to consider investing in international real estate.

Your international real estate investment would never go to waste if you work with a professional. With their expertise in the industry and years of experience, MyLifeWorldWide.com can help you make some sound financial moves. With a diversified international real estate portfolio, you can yield great profits, without the usual risk that other investment options pose.

So make the best of this opportunity and make some sound investments overseas. Contact us at MyLifeWorldWide.com for more information and custom solutions tailored to your unique situation.

Real Estate is the second largest industry for drone use, after aerial photography, which is easy to understand when viewing the compelling aerial photos and videos in use by many realtors today. Drones are technically referred to as UAVs “Unmanned Aerial Vehicles” or when referring to the drone and ground controller unit, an “Unmanned Aircraft System” (UAS). Today, UAVs are very affordable, easy to operate and highly maneuverable. Though a pilot’s license was at one time necessary for commercial drone use, the FAA now allows operation with a remote pilot certificate (FAA Section 107 regulations).

How and Why Drones Benefit the Real Estate Industry

Differentiating property listings by offering high-quality aerial photography and video is a hot button for realtors today. Statistics show that homes with aerial images sell 68 percent faster than houses that are marketed using standard photography. Here are 9 ways in which real estate agents and brokers are benefiting from drones:

1. Drone photography offers dramatic, captivating images.

Using modern drone technology allows real estate professionals to create exceptional shots easily. The use of GPS-programmed flight paths combined with automatic point-of-interest camera targeting results in professional and appealing views.

2. Drones are able to shoot engaging virtual tours.

A camera drone can fly throughout a home or office building and travel through each room, creating a detailed virtual tour that stationary photography is unable to capture. Today’s video editing software make it easy for agents to create a professional voice-over soundtrack, giving the potential buyer a rich and compelling visual story.

3. Drone photography is able to show enhanced features of the property.

Aerial photography can capture shots of landscaping, outdoor living areas, pools, hot tubs, walking paths, nearby parks, local schools, and other interesting features that potential buyers will want to see.

4. Drone photography is attractive to sellers and will generate new business for the real estate agent.

Using drone photography and videos to market properties is a huge selling point for prospective sellers, who want their property to be presented in best way possible.

5. Drones provide realtors a competitive edge.

Real estate listings with drone-produced images and video outperform listings that only offer traditional photos, resulting in increased sales for the agent.

6. Drones are a cost-effective alternative.

Drones are inexpensive to purchase and use. Or realtors can cost effectively outsource aerial photography to professional drone operators.

7. Drones offer high level impact for luxury homes.

Drone photography is able to highlight a waterfront view, spotlight a beautiful garden, expansive grounds, unique swimming pools or water features. Aerial drone photography is able to capture the elegance of a high-end property in a way that no other photography method can.

8. Drones offer advantages for commercial real estate and property development.

Drones are used to plan high rise apartments and other residential multi-unit projects. They are used to inspect, survey and market the property to potential buyers, and for aerial overviews of the land to be developed and surrounding neighborhoods.

9. Drones aid in roof and home inspections.

A drone allows inspectors to identity roof and other issues in ways that a ladder never would. Beyond offering a safer inspection solution, they can readily identify lifting shingles, bent flashing or chimney related issues.

Current FAA Regulations

All drones weighing more than a half pound (0.55 lbs.) are required to be registered with the FAA. The cost to register drones is only $5, but the fine for using an unregistered drone can be $25,000 per UAV. Current FAA guidelines include:

• No drones may be flown within 5 miles of an airport or terminal.

• Written permission is required from each person before drones can fly over or photograph them.

• Commercial drones are limited to an altitude of 400 feet.

• Drone pilots must remain in the line-of-sight of the drone they are operating at all times.

• All operators must secure a drone/UAV operator’s license from the FAA.

Risk Protection for Realtors

While the risk of damage and injury is very low when it comes to drone photography, there are some risks involved. Every drone operator should carry commercial drone insurance. Most drone operators should consider both accidental and liability insurance. Many real estate companies require a minimum of a $1 million limit of liability for third-party operators. There are several types of coverages applicable to drones, including:

• Drone Liability Insurance

• Hull Insurance (damage to the actual drone)

• Drone Payload Insurance

• Ground Equipment Insurance

Drone liability insurance protects the operator and company from third-party claims or property damage. Some policies may extend their insurance coverage to financial loss protection associated with negligence and invasion of privacy. Every realtor using drones should review their coverages to ensure they are protected when using this growing technology.

If you are new to the world of real estate, you might be a bit confused by all of the taxes that get assessed. To many people, the words ‘property taxes’ and ‘real estate taxes’ sound like they are the same, but there are some significant differences. Let’s take a look at them.

Real estate taxes are taxes based on the property’s assessed value. They are assessed on privately owned properties and funds are collected by local governments. Real estate taxes are the ones we often hear about that fund schools and pay for road repairs.

Property taxes have two sub-categories. There are certainly real property taxes that are real estate taxes, but there are also personal property taxes. Think of real property as something that cannot be moved. These are things like the house, an external garage, a storage building, or a barn.

Personal property is defined as things that can be moved, like furniture. These taxes are sometimes called excise taxes. Your car is also personal property. Believe it or not, but that licensing fee you pay for your car is a type of personal property tax. If you have a business that repairs items or sells merchandise, that inventory is personal property. In many cases, you are exempt from taxes on the first $50,000 or $100,000 of inventory, depending on your state.

If you own an RV, this is counted as personal property because it can be moved, even though you might be living in one full time. If it is sitting on land you own, you might have to pay real estate taxes on that land, but not in combination with the RV.

So what is the assessed value that these taxes are based on? Each local government has a department that looks at what the value of a property really is. They look at the structure and the land value itself. Sometimes they calculate these values separately and sometimes they are looked at together. The assessment rate is a lower percentage of the assessed value. For many areas, the assessment rate is 70% – 80%, which then reduces the value of the house, and therefore the amount that the tax rate is calculated against.

It should be noted that HOA or condo association fees are not the same as real estate or property taxes. Those fees go directly to the association to cover costs of common area repairs and maintenance.

Personal property taxes are assessed as a percentage of the value of the item. Each state and county will have their own regulations on how they calculate personal property taxes. Also, each state as well as the federal government allows for a tax deduction on personal income tax forms for real estate taxes that have been paid in a given year.

There are also exemptions that certain homeowners might qualify for that help reduce the tax burden. These exemptions are often for wounded military, the disabled, and the elderly.

Hopefully this has helped clear up the differences between property taxes and real estate taxes. Though they sometimes do overlap, they are also quite different. It just depends on what the item is that is being taxed.

For most of us, the value of our family home, represents our single – biggest, financial asset! Therefore, wouldn’t it, make sense, to hire, someone, who might make the biggest difference, in your results, from easing the process, to getting the deal, transacted? However, since, many find this period, stressful, etc, quality teamwork, and mutual trust, are essential (what is often called, being, on the same – page)! Before hiring someone, ask yourself, why do you (or don’t you) trust that individual, and what is needed, for a real estate agent, so he EARNS that vital bond! With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why it matters.

1. Empathy; emphasis; efforts; excellence; endurance: It’s wise to thoroughly, interview potential representatives, before deciding, who, to hire, as your real estate professional/ agent! During this process, consider, whether the individual, is ready, willing, and able to effectively, listen, far more than he speaks! Does he seem to be able to customize his discussion, or, does it seem, like he is using some sort of script? Only, when you hire someone with genuine empathy, will he proceed with the understanding of your, specific needs, and priorities, and place his emphasis, accordingly! Are you convinced, he will place his efforts, on proceeding, with quality, and excellence, instead of the same – old, same – old? Since, there are often, obstacles, and challenges, you should seek, someone, with the endurance, persistence, etc, to make a difference, for you!

2. Attitude; aptitude; articulate; attention; actions: Great agents possess a positive, can – do, attitude, combined with a well – developed, aptitude, and skill – set, to serve their clients! Paying keen attention to details, articulating a message, which inspires potential buyers, to seriously consider, and bid, on your house, and proceeding with the best strategic and action plans, and, proactively, taking the actions, which produce results, are essential, to earning trust, and respect!

3. Responsive; region; relevant; reliable; responsible: To earn your trust, an agent must be responsive to your specific situation, etc, and produce, reliable, responsible approaches, to achieve, the finest possibilities, and results! To do so, he must know you region/ area, in – detail, and proceed, forward, in the most relevant way!

4. Needs; neighborhood: No two people, are exactly, alike, and, thus, it’s important to address the specific client’s needs, and priorities! In addition, he should be a neighborhood – expert, so he provides the best combination of knowledge, marketing, and input!

5. System; solution; service: Examine an agent’s suggested system, and consider if it addresses, and produces a quality, viable solution, to serve your best interests! The finest agents, consistently, provide the best service, etc!

Before hiring a real estate agent, do all you can, to ensure, he EARNS your trust! That’s the best way, to protect, your enormous investment, in your house!

Life’s Experiences, Lessons learned, Classes taken, Books and Articles read, and then summarized for your viewing pleasure in the following article on Commercial Real Estate Negotiating tips

1. Don’t let contract negotiations go back and forth more than twice – the more back and forth, the harder it is to get a deal done. Round 1 and both are focused on the sale. Round 2 and the focus changes to money. When you get past Round 2 parties can begin to nitpick, start to resent each other and lose focus. Issues can then become personal.
2. Focus on completing the sale. Don’t get sidetracked by emotions, unimportant details, unforeseen challenges or difficult situations that arise.
3. Endeavor to put all contract offers and subsequent pertinent details in writing. This avoids the misunderstandings, misrepresentations and omissions that typically accompany verbal communications and lead to a breakdown in the process.
4. When you give a concession, ask for something in return. You might not always get it but the fact that you’ve given in on an issue ought to give you the standing to ask for and often times receive something in return. Just by asking and not receiving you avoid the other side continuing to ask concessions of you and your Client.
5. It’s best to not take the first offer too quickly or too easily. Wait at least a few hours. When talking about it with the other Agent don’t talk about the ease of getting the property under contract. The other side will immediately think they made a bad deal and from that point forward the closing process can become more difficult than it should be.
6. If you get to an impasse, change the focus and resolve less complicated issues. Then go back to the difficult ones. The process will go smoother and once you have worked through the easy ones, momentum will help get things finished.
7. If you aren’t sure how to reply to a request or if you know the answer but want to soften the blow, use the “limited authority” approach. “I’m not sure, let me check with my Partner”, or “Let me take a look at such and such data” so that you can better provide a more meaningful reply.
8. In order to support your position, rely on precedent. Suggest that this is the way that issues like these are typically addressed or that you’ve done such and such before with great success.
9. Ask the other side for something that isn’t critical to making the deal so that perhaps you can trade this item away for something more important to you.
10. Negotiations are a process. It doesn’t matter how quickly you want things to move, the process will move based upon the comfort level of your Client. Maintain focus, but keep in mind that the process will most likely not move as fast as you want it to.
11. Stay away from high pressure tactics including ultimatums, demands or anything that sounds final and/or threatening. Most of the time it doesn’t help and it can lead directly to emotional responses that then creates animosity.
12. Work towards a win / win. In order to have a successful negotiation, both sides need to win on some points. Give and take. Strive to achieve most of your goals understanding that the other party is trying to do the same.
13. Present all of the facts to your Client. It’s your fiduciary duty as a Realtor to apprise the Client of all related facts to the negotiations – good and bad. Don’t push for the higher dollar offer if other terms of the offer put the Client at undue risk.
14. Remember who you are negotiating with. Sooner or later you’ll be back at the table again with the same Agent. Don’t burn any bridges by transacting in a less than professional manner.

Real estate investing is satisfying and lucrative, when done right. It can help you diversify your investment portfolio as well as generate extra income. Many of the real estate investments don’t require you to deal directly with tenants. Also, you can purchase a property by paying only a fraction of the total price and then clearing the balance and interest over time. Here are four real estate investing options.

Rental Properties

Investing in residential rental properties can be great, especially for individuals with renovation and DIY skills, and have the fortitude to deal with tenants.

Pros

• Provides regular income
• Properties can appreciate
• You can optimize capital through leverage
• Many of the expenses are tax-deductable

Cons

• Managing tenants can be tedious
• Vacancies can reduce income
• Tenants can damage property

House Flipping

You can purchase underpriced properties that need a bit of an upgrade, renovate them inexpensively and then resell them at a profit. House flipping, however, comes with some risks. First, your estimate of repair costs must be precise, which is not a simple thing to do. Second, the longer the property is in your hands the less money you’re likely to make because you’ll be paying a mortgage without it generating income.

Pros

• Ties your capital only in the short term
• Potential quick returns

Cons

• A hot market may cool unexpectedly
• Requires deep industry knowledge

Real Estate Investment Trusts (REITs)

REITs are traded in major exchanges, similar to stocks. A REIT comes into being when a trust/corporation uses investors’ money to buy and manage income-generating properties. To maintain the REIT status, 90 percent of the taxable income of the trust/corporation must be paid out as dividends. REITs can enable you to invest in nonresidential properties, like office blocks and malls that, may not be capable of purchasing directly.

Pros

• Highly liquid because they can be traded
• They are in essence dividend-paying stocks
• The holdings are typically cash-producing long-term leases

Cons

• Doesn’t offer the leverage that’s usually available in traditional rental property investing

Online Platforms

These online platforms link investors with developers who need capital for their real estate projects, either through equity or debt.

Pros

• You have the option of investing in a single project or a diverse range of projects
• Geographic diversification

Cons

• Typically illiquid and speculative
• Management fees

Conclusion

The four real estate investment options available to investors include rental properties, house flipping, REITS, and online platforms. Ultimately, the ideal real estate investment opportunities are those that align with your investment goals.

Are you operating your own rental portfolio? Are you tired of investigating your tenants and checking them out fully to make sure you are getting solid income streams?

Are you trying to find properties where numbers work? Do you think it will be wiser to work out a deal with a professional property manager to limit the liabilities your real estate business is creating?

Are you managing forward-looking assumptions regarding bad debt, delinquencies, concessions, vacancy, rent growth, etc. all impact returns and yields?

Are you embracing technology and don’t know how to start working on your online presence?

Property investing may not be rocket science but you can be bogged down with the various challenges of the day-to-day transactions.

Real estate may be a multifaceted and dynamic industry that evolves quickly and there will always be a handful of problems in such an erratic sector you have to navigate, but dealing with these challenges is not at the top of your list of priorities.

Don’t fret.

You can delegate. You can have your peace of mind.

So you can focus on the most important stuff in your real estate business and free your time working on what you love and what you’re good at, you can delegate two important roles:

1. Lease Administration
2. Dedicated Staffing

Yeah, this the smartest way to run your property investing business nowadays.

OUTSOURCE.

Why should you outsource your real estate investing needs?

• To simplify your property investment

You can demystify your property investing if you’ve developed a system with a dedicated team to cater to specific tasks. Let property managers do what they’re good at doing. Let the auditing team do the numbers. Let the social media staff work on your online presence. Delegate specific tasks to the right people to get the best outcome possible.

• To allow you more time to focus on what you do best

Since you already have a system and a dedicated team working in the background at the jobs that they’re good at, you now have more time to focus on what you do best. You can’t be a one-man band to do everything. You have your own special skills and talents that are needed in your property investing and it will serve you well to do that.

• To give you the freedom to have a work-life balance

You don’t necessarily have to work hard on your property investing. You only need to work smart. With a sound system in place and dedicated staff, you can also enjoy and get a life.

You deserve to have a work-life balance and you need it to thrive in your business. A sound mind, body and spirit working harmoniously together is the secret to your success. You can’t work smart and not live life. You can have it both… work and live.

Be a success story in your property investing. Work smart, delegate and outsource.

Utah real estate agents are continuing to adapt to an ever-changing market. For many years, Utah has been unique for its excellent location in the west without the soaring prices of neighboring states like California. In fact, having a cheaper cost of living than California has given Utah a special economic edge. Unfortunately, Utah is also finding itself struggling with some of the same issues as the golden state, such as overpopulation and rising housing prices. Utah is, however, currently looking at a low 3.2% unemployment rate for 2017 and part of 2018.

How is overpopulation effecting Utah? Well, not having enough housing causes it to be in higher demand, and there is a real danger that overbuilding could reach the mountains and lake areas, which would mean that the number of people looking for housing would have exceeded the amount of space available. While this may be good short-term news for Utah real estate agents, it may not sit well for the state as a whole in the big picture.

If people living in Salt Lake City, Utah’s capital and largest city are forced to move farther out it could also be treacherous for the local economy. Salt Lake City homes are already experiencing steep differences: homes are selling for as little as 200,000 or as much as over one million. Salt Lake City realtors may need to focus on accommodating the number of people living in the area. One thing they can do is perhaps focus on building more multi-family units, although this is an issue that Utah real estate agents may not be able to solve on their own.

An everlasting problem in Utah and all over the country seems to be rising cost of living. Houses for sale in Salt Lake City, as well as rental units throughout the state are experiencing a higher-than-ever price. Meanwhile, with low unemployment, wages are stagnant. This presents a problem when houses for sale in Salt Lake City exceed the income of the average worker, and people begin to move farther out. If this problem becomes too extreme, Salt Lake City realtors and Utah real estate agents in general will have their work cut out for them.

Unfortunately, experts are not predicting a reversal of these trends any time soon. In fact, Salt Lake homes for sale will probably continue to become more expensive. How the wage situation will change is also debatable with no clear end in sight. Technological changes will no doubt have an effect on things; for example, the internet has become increasingly popular over the last two decades, and in more recent years, Smartphones have taken over the industry.

Now, when looking for an apartment or house, you could go on Craigslist or simply Google, “Salt Lake City homes for sale,” or “homes for sale slc” and find actual Salt Lake City homes for sale right there on the internet. Or you could type in “Utah real estate agents” and be connected to someone directly. The possibilities are endless.

Ultimately, the situation is going where the economy takes it, and a lot of this is dependent on the government and decisions they are making. However, the market for Salt Lake City homes will probably remain high. People will continue to search online for “homes for sale slc” with hopes of finding some affordable Salt Lake homes for sale.

However, with the increase in population over the past two decade, the cost of living is on the rise in major part due the cost of housing. And if real estate continues to increase, Utah real estate agents and brokers alike may find themselves in the cross-hairs if and when faced with another bursting market cycle.