Friday, 26 March 2010

Land yasan

Yasan land or real estate (English: real estate) is a legal term that includes land along with anything that stayed still on the ground, such as buildings. Yasan land is often considered synonymous with real property, in contrast with personal property. However, the use of the technique, some people still choose yasan distinction between the land, pointing to the ground and objects on it, with real property, pointing to the right of ownership over land yasan. Term yasan land and real property used primarily in common law, while civil law jurisdictions refer to the immovable property.

According to the legal terminology in some jurisdictions is an immovable goods which includes land and all of which are above such as buildings, plants and others.

Property in a foreign language is often referred to as real property also sometimes called realty (in Indonesia, the term real estate is more used to indicate a housing area which was developed by real estate development company)

In law, the word real is defined as an object (Latin: res / rei) that distinguish it from "man". So the law distinguishes between real property (land and all of which are above) and individual property (eg clothes, furniture, money).

Saturday, 20 March 2010

Zell Predicts Real Estate Recovery Starts End of 2010

today Sam Zell (another billionaire) said essentially the same thing. Zell speaking with Bloomberg says the recovery will start at year end and gain strength in the middle of next.

The concern I have is not the financial markets now, it is the relationship between the markets and the government. The unknown regulatory hurdles and expenses are what concern me going into the coming year.

Everyone is basing the real estate recovery on the general economic recovery, but we forget that the economy was driven by real estate growth and development between 2004 and 2006. So now we are back 7 years before the general economy was doing positive things.

Since that time we have added many more challenges from the government in the form of regulations and taxation which will hamper future economic recoveries. Add into that all of the soft landing programs that have kept us from hitting the bottom in residential real estate and it is hard to forecast accurately when the recovery will really start.

Zell made his fortune investing in real estate, and sold Chicago-based Equity Office Properties Trust to Blackstone Group LP in New York for $39 billion in 2007. He said in yesterday’s interview that the U.S. housing market will start recovering toward the end of 2010 and strengthen in the middle of 2011.

Now chairman of Equity Residential, the largest publicly traded U.S. apartment owner, Zell said real estate investment trusts will have enough cash to boost dividends in the future. Almost 70 percent of REITS tracked by Morningstar Inc. have cut or eliminated their payouts since the second quarter of 2008 as commercial real estate values plunged.

Monday, 08 February 2010

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Friday, 05 February 2010

Become a Professional Home Builder

I know a lot of builders who do a great job building a home and after the buyer moves in, fall on their face by not following up. I've been guilty of the same thing. They have a home that is 90% perfect and all the buyer can think of is that a door that does not shut properly, and the builder never came back to fix it. They forget that 90% of their home is perfect.

It's very important that you follow up on the punch list and you finish all those items, within reason, that the owner says are problems.

The best way I found to handle this is to have a thorough walk through before the buyer moves in. Repair all those items and when the individual moves in, tell him to live in the home for at least a period of 30 days without calling you or your office. Have the customer write down those items he's not happy with during that 30-day period. Verbal communication is not good enough. He has to put all his little complaints in writing.

Any major item, like their air conditioner not working is an emergency item that you'll handle immediately. Normally, for those items, you've supplied the customer with direct phone numbers to the subcontractor that did the work with the understanding that he will call the subcontractor directly.

It's going to take living in the home just to see what items need repairing or replacing. At the end of this 30-day period, the builder or someone representing the builder needs to sit down with the owner and go over this written punch list. This could take a good amount of time, so you need to allocate enough time to do this.

As you go over the punch list it's very important that you describe to the owner how you're going to fix a problem. For example, if you've got a nail popping out of the drywall you can say, "Well we will hammer the nail back in place. We'll repair the drywall and then we'll repaint that area. And if it doesn't blend properly we'll repaint the entire wall." Look at the owner and ask, "Is that satisfactory?" Because the way you plan to fix a problem and the way he thinks it should be fixed, may not agree. If you don't agree on a solution, talk about it until you do. So, you need to tell them how you're going to fix each and every problem.

After you've gone through the entire list, stipulate in writing that you'll have 60 days to complete the punch list. I want to forewarn you. You can't repair those items fast enough. Don't wait until the tail end of the 60-day period before anybody shows up. Jump on it immediately! Once everything is completed on that punch list, it is understood that any other needed repairs will fall under the homeowner's warranty, which we will discuss a little later. One note, wood molding in a home will do a lot of expanding and /or contracting during the first year. If this molding is painted, it will definitely need re-caulking after the first year. I know a builder that has a sterling reputation because he tells the customer that after a year, he'll bring his painters back into the home to re-caulk these joints. They love him and can't say enough good things about him.

Some people are a little too picky. If the customer is nitpicking you to death, you've got to call his hand. If he has just a few picky items, go ahead and appease him and fix them to the best of your ability. This is great PR. You want satisfied customers. You don't want them telling other people anything negative about you or your company.

There's a major builder in the Atlanta area who has a reputation of returning years later and repairing items. Because of this, you'll see resale homes in their ads highlighting the fact that this particular builder built this home. This builder also commands a higher price for his homes and he gets it.

Article Source: http://EzineArticles.com/?expert=Thomas_R._Harrison