When you are purchasing a new home, there are things you need to think about before you buy. One of the things is that with the Indianapolis real estate market, you will be able to afford carpet for your home. There are many homes that have carpet and the majority of them also have padding. However, do you know what kind of quality it is? You need to know what shape the carpet is in and if it is old or new. You also need to know if there are any problems that the carpet may have. Here are some things to consider when looking at carpets:

In the city of Indianapolis, it is very humid in the summer. In the winter, the city can be snowy and rough to navigate. In most homes in the Indianapolis real estate market, the carpets have had their share of lots of foot traffic. The wear and tear in the carpet is usually found in the main areas such as near the doors, the kitchen or the stairwell. With this much activity, the carpet probably has a lot of worn fibers. Within a year or so, you may be looking at replacing it.

Something else that you must think about is how many spills the carpet has endured. If there were children that lived there with the former owners, then it’s likely that there were spills in the carpet. Some Indianapolis real estate agents will advise you to have things such as Stainmaster or Scotchguard to protect the carpet fabric from being ruined. However, they do fail to advise you that these treatments are temporary and only work for a few months. The carpet fibers become vulnerable to spills again.

While looking at the home, if there are any visible stains, there is a possibility that they may not come out. No seller of a home in the Indianapolis real estate market should show you a carpet with stains. They should have attempted to do everything possible to get the stain out of the carpet ahead of time. You may be looking at a piece of carpet where it is discolored in some sections.

When you look at carpet and see stains, some of them are deeper than what they appear to be on the surface. When you’re looking to purchase Indianapolis real estate, you shouldn’t have to concern yourself with shopping for carpet padding. However, it is something that you should consider when you are looking to purchase a home. You should look at if the stain was cleaned thoroughly and how long it had been there before it was worked on. If the padding shows to be damaged, you will have to get new padding and carpet.

Another thing with padding is that it can be detached from the floor in the home. With Indianapolis real estate, there are some pieces of carpet that are squishier than others. This is because the carpet is detached and has become more spongy. When this happens, moisture and liquid can set in. It can also pose problems for the wood that is underneath the padding as well as the padding itself.

When choosing the ideal property for Indianapolis real estate, carpets are an important part. However, that part seems to get overlooked a lot. Before you purchase as home, make sure that the carpets are inspected and get in a full steam cleaning in with the deal. It is not costly to do and if there is not furniture there, the process can be quick, but yet a needed service before you move into your new home.

This article is brought to you with the help of the Indianapolis real estate team and Joseph FeRoss. For more information regarding the Indianapolis MLS please visit http://www.indymetrohomes.comArticle Source:http://www.articlesbase.com/real-estate-articles/indianapolis-real-estate-and-carpets-894849.html

Before you rush right in and sign all the paperwork that will make you a condo owner there are many things to consider. Before you commit to buying a condo it is always a good idea to check out, in depth, the state of the property and the association.

Before you make a final decision, take some time and walk the property. Look closely at the condition of the common areas such as the pool area—if there is a pool—and the landscape. It is also a good idea to talk with some of the residents you see while you are out. Ask questions about the property. Is it maintained routinely and has the property seen a decline since they have lived there? Then ask the residents questions about the board members. Do they keep up the property; are they nice, and do they answer questions and inquiries in a timely manner? Knowing this ahead of time can save you some from having some unwanted surprises once you are the owner of your new condo.

You should also take the time to find out the condominium complex’s financial stability. To do this you will need to get a hold of the most recent financial statements and the annual budget. This can be tricky as the association board is not required to share this information with a prospective buyer. Instead of going to the board you may try the seller. If the seller wants to insure the sale of the unit they are likely to grant your request. Once you have obtained the financial statements check for things like the reserve of the property and what the insurance costs are.

Checking how many units are in foreclosure is another way to determine if the condo you are looking at is a sound purchase. A real estate attorney should be able to run a title search on all the units in the building and tell you how many units are in foreclosure. While there is no set rule for a “bad number” of foreclosures, obviously a high percentage rate is not going to help the value of the property.

Don’t forget to check the rules. Once you sign the closing papers on your condo you agree to abide by all the rules and regulations of the condo association. Be sure to read the rules thoroughly and check for everything from pets to kids to cars allowed in the parking lot. Make sure that the rules that are in place are rules that you will be able to live with. You don’t want to move in only to find out you can’t bring Fluffy the cat with you or that your pick up truck will not be allowed in the parking lot.

The condo lifestyle can be a rewarding one but great care should be taken before you decide to sign on the dotted line. Thorough research done on the property and the association before you sign can save you hassles, headaches and buyers remorse. The condo that you will be buying will be your home and like with any home you should make sure you will be happy living there for many years to come.

Paul J Coulter has an extensive background in real estate and understands the benefits of condo ownership. For condo listings and information in Toronto, visit Toronto Condos for more information.

Article Source:http://www.articlesbase.com/real-estate-articles/things-to-consider-before-buying-a-condo-893074.html

Family or Investment/ Income Home Near Ocean! Great family home or income producing property near the ocean. 3 Bed/2 bath home with double car garage and private large yard. Home was completely remodeled in 2006 from ground up with top-of-the-line fixtures and amenities. Tile floors cover the kitchens and bathrooms, laminate floors throughout the rest of the house. New roof, new interior/exterior walls w/ hardy plank siding and enough insulation to keep the house warm year round. Rent out …

My Name Is Amber And I Need Help TO Find Houses For Rent Or For Sale In Denham Springs/Baton Rouge. A Nice 3 Bedroom 2 Or 2.5 Bathroom From 0-,200. So Plz Help me I Need Alot of Help!!!!!!!!!!!!!!!

my girlfriend is to move in with me, and we cant work out whether to sell or rent her house. is she exempt from cgt if she sells (she's lived there for over three years)? is the tax on renting punitive (she's higher rate)?

I just closed on a nice deal today. Over $25,000 on one house without putting up any cash or credit. It was a Foreclosure Deal that I got from the public records. I am not telling you to brag, what I want to do is to tell you what you need to do when you cash a check, especially your first check.

The first thing I did was to look at all of my bills. I had most of them paid, so I looked at my debt. I used half of the check to pay off my debt. Luckily, I own a lot of rental property so I can shelter most of this income with depreciation. If you do not have properties like I do, make sure you plan to pay taxes on this amount at tax time.

Luckily, I did not need to pay myelf first. What I mean is that I did not need to take money out this check to go toward my personal account. It is best to take out what you need to live on before you pay any debts or reinvest the money. That is paying yourself firts. Don’t think because you made a chunk of money that you can go take a big vacation and blow it all. Reward yourself, but do it in small chunks. Don’t blow the whole thing for fun and then not have anything to grow on

The next step is to reinvest in the business. To have a business, you have to take steps so that you have money coming in consistently every month. Therefore, you should do what I do and reinvest in another way of finding deals. I am going to spend a few thousand dollars on a lead generating program that should bring me a few deals a year. I am also going to sign up for a Short Sale negotiation company that will help me leverage my time to find more deals. If you do not reinvest, you will not see the exponential growth and you will always stay flat or go flat broke.

Be smart with your money. The money will come and when it does, you must know what to do with it. Pay yourself first and then reinvest in your business.

This article was written by Tony Javier. Tony has a very successful Real Estate Investing business. You can get his FREE 90 Minute Telesminar on how to Wholesale Real Estate at http://www.TotalRealEstateInvesting.com along with many other bonuses.Article Source:http://www.articlesbase.com/real-estate-articles/cashing-checks-from-real-estate-investing-890800.html

Lake Manassas is a premier area for Golf and Country Club real estate boasting the Robert Trent Jones and the Stonewall Golf Club, and the Virginia Oaks Golf community.

The area also offers the ultimate outdoor playground for all ages. Amenities in Lake Manassas include three stocked ponds, hiking trails, nature trails, basketball court, children’s playground and The Lake Manassas Swim and Tennis Center. The facility features an Olympic-size pool, wading pool, and tennis courts.

Robert Trent Jones Golf Club: When Jones purchased the 850-acre waterfront package on Lake Manassas, he had a vision of creating the ultimate golf experience on this property. Today, this private championship golf club challenges golfers from all over the world, and is considered one of America’s top courses. The club is also home to the President’s Cub tournament which features 24 of the best players in the world as they compete for this prestigious title.

The course has a unique design utilizing the lake as the center point and visible from almost every hole. The 65,000 square foot Georgian Mansion features prominently as the clubhouse. The Robert Trent Jones Club has no private homes, but it does have overnight stays available at member cottages and clubhouse suites. Members can also train year round in the state of the art training facility complete with video bay, four heated hitting bays, a bar lounge and conference room.

Virginia Oaks Golf Community: This is a gorgeous club and community located on Lake Manassas. The 18-hole, par 72 course was designed by P.B. Dye and is considered one of Northern Virginia’s most challenging courses.

The homes at Virginia Oaks blend seamlessly with the stunning landscape and vary from custom homes over 7,000 square feet to luxury town homes, and NV Homes innovative villas. Residents make good use of the nearby recreation facilities that include tennis courts, swimming pool, volleyball, basketball, playground and fitness area.

Stonewall Golf Club: This immaculate facility at Lake Manassas has been rated one of the finest public golf clubs in Northern Virginia. This Tom Jackson designed 18-hole, par 72 course utililizes the breathtaking natural landscape as it follows the banks of Lake Manassas on the front nine, and proceeds to wind through densely wooded hills for the back nine. Stretching 7,000 yards from the back tees, the course offers five sets of tees to accommodate golfers of all levels.

After your game, retire to the Clubhouse and enjoy panoramic views of the course in the Brass Cannon restaurant. Perfect for a casual lunch or gourmet dinner.

Nearby Attractions

From concerts at the Nissan Pavilion, world-class golf and fishing, to quality wineries, there is something for everyone in Lake Manassas. Shoppers will delight in Old Town with its antique stores and boutiques. History buffs will be fascinated by the 7,000 square foot Manassas Museum, filled with artifacts, historical memorabilia and videos outlining the area history and Civil War influence. Don’t forget, this area is located in the heart of Virginia horse country and the perfect place to take in a steeplechase or polo match.

Lake Manassas is a deep, clear lake filled with many varieties of fish. Locals also love the non-motorized water sports, picnicking and hiking that the area offers.

A one hour drive will take you to the heart of Virginia’s Blue Ridge mountain area. This Mecca for the outdoor enthusiast, boasts the ultimate in camping, hiking, skiing, hiking and rafting.

With easy access to I-66, the Manassas train station and the Route 15 corridor, residents have an easy commute to Washington D.C., Leesburg, Warrenton and Baltimore for business and entertainment. Dulles National Airport is 25 minutes drive and Reagan National Airport is 55 minutes away.

Schools

J.W. Alvey Elementary School (winner of the Prince William County School of Excellence award for the 5th straight year)
Bull Run Middle School
Stonewall Jackson High School

Carolyn Capalbo is an expert military relocation specialist and real estate agent serving Northern Virginia real estate. Visit Just4Real.com to find updated market information about areas in Prince William, including Bristow VA real estate.

Article Source:http://www.articlesbase.com/real-estate-articles/lake-manassas-a-golfers-delight-890344.html

We have been asked recently for some clarifications on the recent changes from Fannie Mae on Reserve Requirements when purchasing Investment Properties. As you may know, Fannie Mae has repeatedly changed its guidelines on this topic. Staying on top of this information is key as a real estate investor.

The reserve requirement is the additional amount of money that a lender is going to want to see to support the investment property in case their is a shortfall in rental income. Obviously for the lender, the more the merrier but for the investor, it just requires them to have more cash on hand. Essentially, the total amount of cash on hand will consist of 1) the down payment, 2) the reserve requirement, and 3) the closing costs to complete the transaction.

Per Fannie Mae’s February 6th Announcement:

When the borrower will own one to four financed properties (including the subject property) the reserve requirements are:

* two months of reserves on the subject property if it is a second home,
* six months of reserves on the subject property if it is an investment property, and
* two months of reserves on each other financed second home or investment property.

When the borrower will own five to ten financed properties (including the subject property) the reserve requirements are:
* two months of reserves on the subject property if it is a second home,
* six months of reserves on the subject property if it is an investment property, and
* six months of reserves on each other financed second home or investment property.

Note: The reserves calculation for a financed property is based on the monthly housing expense of the financed property. All reserve requirements are based on the new definition of reserves as defined in more detail in Fannie Mae Announcement 09-02.

So just as a numerical example, let’s say you want to finance an investment property costing $100,000 that will result in payments of $1,000 per month. Then your cash requirements will be:

1. 20% Down (typically): $20,000
2. 6 Months Reserve: $ 6,000
3. Closing costs: $ 2,500 (estimated).

In this example, then lender would be looking for $28,500 in your accounts to get approval.

Notice that these reserve requirements now take into account reserve requirements for other properties if you own too many. This is Fannie Mae’s attempt at trying to avoid the bad situation that investors got into in 2005-2007. Simply too many financed properties to recover if payments from rents stopped or dropped.

Obviously, this says nothing about what happens to that reserve cash immediately after closing but it probably is a step in the right direction. While this will not be welcome news for investors that like to use a lot of leverage, it is probably a very prudent step.

You can click here for your copy of the announcement, or you can get it from:

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdf

Hopefully this helps clear things up for those of you confused on the new Fannie Mae Reserve guidelines for investors.

Dr. Chris Anderson leads NoBullRE.com, a free real estate investing club without all the hype.&nbsArticle Source:http://www.articlesbase.com/real-estate-articles/fannie-mae-investor-loan-update-888486.html

3 bedroom 1 1/2 bath house for rent close to campus. Garage, 2 parking spots in the back of house, backyard has been well kept

or sell and buy at the same time..or would the costs be around the same (other than the cost of the rent)……… Wanting to avoid getting stuck in a chain..if i rent in between then i can avoid this by appearing a first time buyer.