There are four major methods of foundation repair in the southern part of the United States. They are known as concrete pressed pilings, concrete pressed pilings with insert, steel pressed pilings, and poured concrete piers (Bell Bottom Piers). It should be noted that the Federal Housing Authority has not certified or expressly established “approved foundation repair methods.”

A comparison of foundation repair methods must include the poured concrete piers or Bell Bottom Pier method. It was the first foundation repair method developed to stabilize concrete slab foundations. It was developed in the 1960s and its primary disadvantages are higher cost and longer construction time. However, this method has impressive advantages. It is based on the same construction concept that is used to build support columns for highway overpasses. It is a thoroughly researched concrete slab repair method that is recommended by the vast majority of structural engineers. Large holes are dug under the areas that need foundation support. Concrete is poured into the holes and steel rebar is placed in the wet concrete. When the concrete is dry the building structure can be leveled. The Bell Bottom Piers are extremely strong and will resist all horizontal and vertical soil movement. It is the most permanent foundation repair method available.

In the 1980s a lower cost but remarkably inferior method of foundation repair was developed called concrete pressed pilings. It is probably the simplest and lowest cost of all the methods of foundation repair. It is still used today because in can be completed in a short amount of time and there is no waiting time for the concrete to cure. However, it has major disadvantages. This process uses the weight of the building structure, or a portion of it, to leverage or vertically drive precast concrete cylinders into the ground. The depth of the driving process is limited by both soil conditions and the weight of the building structure. There is a point called the refusal point, which is the point where it takes more force to drive additional piles than it does to lift the building structure. The refusal point is the limit that piles can be driven into the soil because any additional force would raise the foundation of the building structure rather than driving the piles further into the soil. Therefore, the precast pressed pilings, which are driven-in vertically, many not reach bedrock or stable soil. Perhaps the greatest disadvantage of this method is the fact that there is nothing preventing the misalignment of the precast concrete cylinders. There is no way to determine if piles have been driven in the ground in a straight vertical column. If the first pile hits a big rock it could break or become misdirected and continue at an angle. Any of the concrete piles could fracture and break and misalign the entire column. Even if the concrete piles are aligned in a vertical column they have no way to resist future horizontal soil movement, which is very common with any building structure that is experiencing foundation problems. And another potential drawback is that the repair crew may improperly exceed the driving limitation while forcing these concrete piles into the ground and thus severely crack the foundation they are supposed to be stabilizing. This method is an unproven foundation repair method and typically no soil test is performed prior to installation. For these reasons, the concrete pressed pilings method is recommended far less frequently than in the past.

Because of the severe deficiencies of the concrete pressed pilings method, a variation was developed called the concrete pressed pilings with insert method. A comparison of these methods of foundation repair will reveal that they are very similar. The minor difference is that the precast concrete piles have a hole in the center for placement of a steel rod. The steel rod, if inserted during the driving process, will help keep the concrete piles in a vertically aligned column. However, the steel rod will not prevent all potential misalignment problems. The steel rod will help the entire column resist horizontal soil movement. Unfortunately, this new method does not address the other disadvantages mentioned earlier. The depth of the driven vertical concrete piles is still limited by the weight of the building structure. And the foundation of the building structure is still as risk of damage if the repair crew exceeds the driving limitations. In addition, this method introduced a center hole in the vertical column of the concrete piles that will accumulate water. An accumulation of water in expansive soils will put additional forces on the vertical column as well as the foundation.

The steel piling method is the latest version of the pressed piling method. A comparison of these three similar methods of foundation repair will reveal some improvement with the latest version. Steel pilings are stronger than concrete piles and can be driven deeper into the soil. However, the driving depth is still limited by the weight of the building structure and the refusal point. And the steel pilings are thinner than the precast concrete pilings and less able to resist the forces of vertical and horizontal soil movement. And steel piling also share the other disadvantages of concrete piling such as misalignment that cannot be detected and unconnected piling segments that can not resist uplift forces of soil movement.

Martin Dawson is the co-founder of Dawson Foundation Repair headquartered in Houston, Texas. He is a leading authority on repairing failed commercial and home foundations using the time tested and thoroughly researched drilled Bell Bottom Pier method. His company has serviced Texas since 1984, and since 2009 began to expand into other southern states.Article Source:http://www.articlesbase.com/real-estate-articles/comparison-of-methods-of-foundation-repair-1733898.html

Last year we kept hearing how the recession was over or almost over and things were going to look up at any moment. Well, 2009 came and went and we soon discovered that the recession was, in fact, not over. The question now is not if millions of people are going to lose their homes—which millions already have—but what the final toll of homes in foreclosure is going to be when this economic is finally over.

Part of the problem was that many people across the nation lost their jobs last year or had their hours severely cut back, leaving them with smaller household incomes. The concern for the current year is that number of unemployed people across the US is still very high and may in fact continue to rise this year. This will continue to be a problem until not only the official unemployment rate changes for the better, but also the rate of under-employed people across the country.

Another problem is that the Federal Reserve program to buy mortgage-backed securities will be ending on March 31st of this year; this program has been helping to keep the interest rate on mortgages low. The program was quite a success and did, in fact, help keep interest rates down to much more appealing levels than we had seen in years for all of 2009.

Another issue looming on the horizon in 2010 is that many home owners who’ve been struggling to have their mortgages modified by the government Home Affordable Modification Program are not qualifying for the program. Reportedly, up to 7 million homeowners who’re behind on their mortgage payments may yet lose their homes due to the way that the HAM program works at present. The delay of these homes entering the market may have suppressed foreclosure numbers for 2009 but will inevitably drive up the numbers of foreclosures in 2010.

With this combination of factors in place, it is obvious that the numbers of foreclosures can only rise over this current year. Even if some of the government programs are continued, it is unlikely that they’ll be proactive enough to suppress the sheer volume of homes that are poised to enter the market as bank owned properties this year. Unfortunately, the only question that remains is if the market can effectively deal with the glut of foreclosures that it’s likely to see over the course of this next year.

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For those of us dwelling in the fall out of the economic crises exacerbated by our modern societal customs of living beyond our means with large amounts of debts over our heads, it has never been a better time to take a good hard look at our spending habits. For many people it is a fabulous time to buy a home; interest rates are low and real estate prices all across the country are still dropping, however it is always a good idea to take a look at your spending before you make a major purchase like a home.

Many people across the country don’t use a budget to guide their spending and worse yet, don’t really even keep track of where their money goes every month. But when you commit to a large purchase like a home, particularly your first home, it is a good idea to track where your money goes so that you can see what you can actually afford and where you might need to cut back.

There are a lot of different budgeting plans out there and many guides that offer an opinion of what percentage of your income should go to each type of spending. However, the problem with a great many of these guides is that they give you a guideline that doesn’t take into account your particular family’s needs. Make sure that if you use a budget guide to plan your spending that you take into account that some things—like food or healthcare costs—will depend on the number of people in your family and their individual needs.

There are many pieces of budgeting software on the market currently that help to make budgeting easier by working with your bank to keep track of your purchases. If you use online banking, you can download a file every month that your software can use to track every purchase that you’ve made that month. This type of system is particularly useful if you use your debt card instead of paying cash for items.

Whichever type of budget you decide to use, whether it is written in a ledger book or uses some fancy software, it is important to keep track of everything that you buy. This way you know exactly where every dollar that you earn is going and you can adjust your spending habits accordingly; it’s hard to curb your spending if you don’t know where those extra dollars are ending up every month. Once you have your finances under control then it’s much easier to see how much money you can afford to spend on a mortgage!

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Article Source:http://www.articlesbase.com/real-estate-articles/budgeting-before-you-buy-a-new-home-1722765.html

When looking to purchase your very first home, the one thing you just can’t do without is a qualified real estate agent.  Because first timers are often completely unaware of what to expect when buying their first home, having an expert around is a good idea.  A professional realtor can walk you the process and help it run more smoothly.

It is also a good idea to have someone around who understands the ins and outs of the real estate industry.  The reality is that when you are buying a home and you’ve never done it before, the entire process can be somewhat overwhelming.  Having someone you can trust to help you find the perfect home to purchase will be like a breath of fresh air as you take that first plunge into home ownership. 

So let’s talk about ways to go about finding that perfect real estate agent.  Below are a few ways that will help a potential first time buyer find just the right real estate professional to fit their personality and needs.
   
1. Referrals - poll your friends and family to see if they have someone that they would recommend.  Usually you will find that getting a referral for a real estate agent will give you comfort because someone you know has vouched for their work.
 
2. Check the neighborhood - chances are that if you are in the market to buy a home, you’ve already been doing some driving around in the neighborhoods you’re interested in.  If you see a few homes with a recurring name, this could be an indication that this person is a qualified realtor, so go ahead and give them a call.
 
3. Interview a few candidates - whether you get a name off a For Sale sign or get a referral from your best friend, you might want to talk to a few real estate agents before settling on one.  Every good real estate agent will not fit your personality style, by spending a little time speaking with a few you’ll be able to choose who you feel most comfortable with.
 
Buying a home can be an arduous and exciting event all at the same time.  This is particularly true if you are going through the process for the first time.  Having a qualified real estate agent can not only make the process stress free, but it will ultimately help make your dream of buying a new home come together much quicker and with optimal results.  

Paul J Coulter has an extensive background in real estate and understands the benefits of using a real estate agent. For more articles about using a real estate agent to buy or sell a home, visit Toronto Real Estate Agent.

Article Source:http://www.articlesbase.com/real-estate-articles/first-time-homebuyers-need-a-good-real-estate-agent-1714864.html

In spite of the economic downswing that many countries in the world are currently experiencing, real estate remains one of the booming industries. For those who are thinking of venturing into home purchase, it is important to understand the essential components in the real estate market such as home mortgage.

Home buyers need to submit the necessary documents for mortgage application before their prospective lender qualify them for a mortgage or issue a loan. Other than the personal identification, financial documents are very common requirements when applying for mortgage loans. This documentation is normally presented to the bank or mortgage lender. Determined by conditions of the mortgage company, a broker may validate some of the information or the underwriter will confirm all of the details. The bank confirms a potential buyer’s financial information, when this is done the underwriter can move on to process the mortgage. In case the information is unclear or cannot be checked out, the mortgage broker will ask the potential buyer for extra documentation.

In most cases, your prospective lender will ask prospective home buyers to submit the following requirements before applying for a loan or issuing a mortgage.

• Almost every mortgage brokers or banks will want to see copies of pay stubs from the last three months prior to the loan application. If it happens that a prospective buyer owns a business or works on a commission basis, there is a need to provide more documentation of income. This means the prospective buyer has to provide pay stubs for the past 12 months or profit loss report.
• For home buyers who are already retired, the bank may request proof of retirement income. This can be social security reports, IRA or 401K reports, or pension reports.
• The potential buyer may also need to present bank account statements for the last three months. The bank may also ask the prospective buyer to submit bank account statements for the past three months. If you have both checking and savings accounts, you should submit statements for the two accounts.
• The prospective home buyer may also need to furnish a copy of their current lease or form signed by the landlord.  The mortgage broker or bank will want to see this document so they can contact the landlord and verify rent paid and to know if you pay on time.
• There are times that the bank asks for an employment verification form. This form can be provided by your employer. The content of form includes in details of your salary, duration of employment, weather there will be a change in your employment status and scheduled raise.
• The lender will ask you to submit a least a year’s tax returns in the documents required for mortgage loans. Many lenders will look for up to three years of tax returns. You must be able to submit the full tax return.

Since most home buyers do not have enough financial resources for the purpose of purchasing a home in full payment, lending companies and banks are imposing the required documents as necessary and impose other tight standards to apply and get approved for home mortgage.

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If you plan to rent out your place to an expatriate, make sure it is spacious, has a modular kitchen with geyser, clean and spacious bathroom and lots of storage space

Expatriates continue to thrive in and throng India — be they in times when the economy booms, or even during a spell of slowdown. While Delhi and National Capital Region also attract a large number of diplomats with foreign missions based here, other major metros and towns are also not far behind on this score. Apart from diplomatic community, a substantial number of expatriates, right from Sweden to Korea, and from Finland to Thailand, apart from a number of Americans, currently live in India.

As their number swells and multiplies, landlords of well-known areas in Delhi, Gurgaon, and to some extent Noida, are a happy lot as they earn substantial sums through rents from this ever-growing tribe. Though this a cozy arrangement, often landlords are disappointed as expatriates are very choosy and reject an establishment if these do not measure up to their exacting standards with regard to amenities on offer.

Let’s start from the kitchen — expatriates prefer to do their own cooking. Unlike in our country, they rarely have a live-in help. Vikas Sardana of Servotel, which provides fully furnished accommodation to expatriates, says that modular kitchens are a big draw for expatriates. Again, geyser in the kitchen is a must. Before occupying their new home, these foreign nationals see to it that their landlord installs a geyser in the kitchen and the bathrooms. They need hot and cold running water when they cook.

A Delhi-based journalist from Russia says modular kitchen is a must for them. “We refuse to live in a house which does not have a modular kitchen.” He also adds that they hate houses where water overflows in bathrooms and kitchens, and it is difficult to drain it away — they only look for water in taps. The cultural difference in cleanliness between India and the West is wet vs dry.

As far as bathrooms are concerned, they have to be spacious with an exhaust fan to bring in fresh air. They also expect bright lights. A bathroom is just like any other room that makes a home for them. Bathrooms with shower cubicles are also more than welcome. And mixer-taps for hot and cold water in washbasins, whether in the bathrooms or kitchens, are sine qua non.

According to another realtor, bathtubs in master bedrooms are a luxury much valued by westerners. Most of them look at bathtubs in bathrooms more as a place to unwind at the end of the day, with a warm bath serving as therapeutic, to bust stress.

They also prefer fittings like basins/countertops and WCs in cream or white shades. These shades again give the bathroom a sense of spaciousness and airiness. Showers and taps in steel are preferred and the water pressure in the shower must be good. According to realtors, if houses have spacious rooms with good lighting, then they are virtual milch cows for landlords. Also, expatriates are known to prefer big rooms with high ceilings, especially those from the UK.

N Jain, who has been letting out a part of his house in Shanti Niketan only to foreigners for several years now, says that good storage space is something that expatriates look forward to in bathrooms. From a medical cabinet to a towel rack and toiletry, storage is a must. And last but not the least, expatriates also look for full-length mirrors in their rented homes. “I still remember that one of our French tenants left our house early as he claimed the bathroom mirror was the size of a book — not enough for all of his six-feet frame,” Jain chuckles.

And yes, in a first- or second floor house, expatriates prefer to have a park or a ridge facing them rather than a road or a slum, as they love to lounge in their balconies. If your house meets with all these criteria, then be sure that an expat will come knocking upon your door, sooner than later!

Kitchen

Expatriates opt for modular kitchens. Geyser in the kitchen is a must as they need hot and cold running water when they cook

Bathroom

Bathrooms have to be spacious with exhaust fan to bring in fresh air. It is just like any other room that makes a home for expats

Courtesy:- ET Realty dt:- 08-01-2010

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I am Santosh Kumar Baranwal. I am a Graduate. I am working in Bhardwaj Buildtech pvt. Ltd. As a SEO.

Article Source:http://www.articlesbase.com/real-estate-articles/no-ordinary-stuff-1707214.html

Affordable housing is the latest catchphrase for real estate sector which has been struggling with a steep downturn in demand.  But many close observers of the real estate business say that what lies behind the facade is not the real deal.

For the past few years, the dream of millions of middle class Indians to be a proud owner of their own sweet home remained just a fantasy as the rising prices and developer’s keenness to focus on elite gated communities made them walk of the market.

But that market trend could be about to change. More and more middle-class Indians can expect to get a step on the housing ladder in the year 2009 due to the cuts in the bank loan rates and distressed developers, chastened by the property market slump due to recession, have decided to decrease prices to move unsold units in their projects and construct cheaper homes.

During the past of couple years houses have become just another financial asset, as brokers and wealthy investors, buoyed by surging stock market earnings, trooped into the real estate sector in the blind faith that the only direction that prices will go was upwards. The markets saw that their faith was even rewarded, and prices went up to surreal levels. Developers were happy to see the way the markets for real estate was growing, and many of them aimed to construct high-margin exclusive projects,  almost oblivious to the fact that such projects and properties were beyond the reach of the majority of middle class Indians.

High prices along with double-digit interest rates had put the genuine buyers and middle class Indians on the back put. But since the last quarter of the year 2008, realty started meeting with reality. And the collapse experienced by the stock market turned all the cards for the market speculators, and with them, the real estate industry. Most of the developers now opine that the affordable or relatively lower lower-priced homes are the solution to fight the current mess.

In this mess also lies the solution to the misery of the developers. Many developers including the big players of the real estate sector are rediscovering a basic fact: the bread-and-butter of the real estate sector in India comprises of simple, affordable houses bought with bank home loans at reasonable interest rates. According to the Indian government’s data, there is a demand for new homes but pricing has been a big problem for buyers.

The market analysts observed that price correction is the only way to revive the realty market. The recent rush for the low cost houses offered by the Government development authorities, shows that buyers always looking for low-cost houses remains huge.

Developers have to lowered prices of their projects as they want to capitalize on it. And this has been supported by the banking sector also. Several state-run banks & private banks have slashed the interest rates to single-digit levels for housing loans up to Rs. 20 lakhs, albeit after being nudged by the Indian government which views sentiment in the housing sector as a bellwether for the Indian economy and hopes to revive the sector again. The developers stated that the package announced by the Indian government has helped in triggering the sales in the affordable housing division in almost throughout the country.

The impact of these actions is not just limited to the smaller cities but developers are launching affordable homes in bigger centers too.

According to the developers, the price correction is a move that has been dictated by the market. Construction organizations can’t construct homes as per their whims and fancies. They have to build homes for customers and if there is a demand for affordable housing sector then they have to design and launch more projects for the segment.

Meanwhile, price corrections in the Indian real estate sector have been quite stark. Prices for luxury homes have been corrected by almost 30-40%, while projects that were priced around 50 lakh are now available at a cheaper rate which is almost 10-15% below the earlier price. Analysts feel that the prices still will drop by another 20-25% for customers to walk in. One reason holding back customers could be the hope that prices will drop further but the developers disagree. According to the developers, the housing market has already scraped its rock bottom. And it is a fact for buyers to accept this.

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Article Source:http://www.articlesbase.com/real-estate-articles/affordable-housing-a-real-opportunity-1701450.html

There is a simple trick to saving about 4% on the price of property abroad. It is quite easy and only takes about an hour. As an example, on a $200 000 property, this means that you would save about $8 000. Not bad for an hour’s work. Following is the explanation of how you do it.

If you are buying abroad, you will almost certainly need to pay in the local currency. So for example, if you are buying in New Zealand you would need to pay in New Zealand dollars or if you are buying French property you would need to pay in Euros. Unless you happen to have a sufficient amount of the local currency, this means that you will need to convert some of your money to the foreign currency.

Unfortunately, most people use a bank to do this, and almost all banks have very high fees for currency exchange. These fees take 3 forms:

- Exchange Rate. Banks do not exchange your money for what it is actually worth on the international market. So, for example, if a Euro is equal to US$1.20, they will likely charge you about $1.25 to buy a Euro. On the other hand, if you are using Euros to buy dollars, they may give you only US$1.15 for each Euro. This is how they make much of their profit on currency exchange.

- Direct Fees. In addition to giving you an exchange rate which is less than what your money is actually worth, there are a number of additional fees that may be charged based on individual circumstances. You need to read the fine print to see which ones are applicable to your particular circumstances as they vary widely depending on bank and on the nature of the currency exchange.

- Transfer Fees. Unless you are taking the money in cash, you will likely need to have it sent from your bank to a bank in the country where you are buying property. The sending bank almost always charges a fee for this and the receiving bank often charges a fee as well.

In total , this means that you could easily end up paying up to 5% of the amount just on various fees. However, if you use a specialist currency exchange company, you should pay closer to 1% total, giving you a saving of about 4%. A currency exchange specialist is cheaper because:

- Competition. Currency exchange companies, unlike banks, specialise in currency exchange. Consequently, they are set up to offer much better rates. Perhaps more importantly, competition between exchange specialists is fierce so they must have attractive currency exchange rates to compete, whereas most people using a bank simply use the same bank where they have an account, without looking around, so the banks have little competition and consequently can offer less attractive exchange rates.

- Direct Fees. Most currency exchange specialists, for large amounts, do not charge any fees.

- Transfer Fees. In general, currency exchange specialists do not charge any transfer fees. Furthermore, they often have in-country arrangements so that the receiving bank does not charge a receiving fee.

In the event that you are exchanging the full purchase price of the property, a 4% saving on the currency exchange translates to a 4% saving on the price of the property. To save this money, you need to do a bit of work in advance of buying your property abroad. The main steps are:

- Choose a currency exchange provider. There are a lot of companies that provide currency exchange. You can get a list by using the keywords ‘currency exchange’ in your search engine.
- Open an account. Opening up an account with a currency exchange provider is essentially the same as opening up an account with a bank. This should be done well in advance of buying your property, so that all the paperwork is sorted in advance. Opening up an account should be free and without obligation, and should take no more than an hour.
- Conversion. When you are ready to buy your property, you simply transfer the money from your bank account to your exchange rate account. Your currency exchange provider will then convert the money to the required currency and transfer it to the destination.

In addition to saving perhaps 4% of the purchase price of your house, another important advantage is the ability to lock-in a currency exchange rate. Currency exchange rates are constantly going up and down. Sometimes this will be in your favour and sometimes at your loss. While one can hope for the former, there is always the risk of the latter. With a currency exchange provider, you can lock-in an exchange rate for months in advance, so that when your are ready to convert and transfer your money, there is no risk of you losing out due to exchange rate changes. This ability to lock-in an exchange rate is another reason for opening an account with an exchange rate provider.

FPSI offers French Property and provides general information on France.Article Source:http://www.articlesbase.com/real-estate-articles/pay-less-for-foreign-property-currency-exchange-savings-1696243.html