The Wrong Way to Invest in Real EstateBy William Bronchick "Real estate fever" . . . it's hit the Country like a plague. Zillions of "newbies" are hitting the bandwagon, trying to make a profit where they lost in the stock market. I meet them all the time, and many are making big mistakes!   Mistake #1: Stock Market Mentality   You'd think after losing $7 trillion in the stock market people would have learned! Nope, they are making the same mistake, which is assuming what happened yesterday will happen tommorrow. Nine of ten new investors I meet say they are interested in real estate because they saw someone else make money from the rapid appreciation of the market over the last few years. But, buying real estate solely for short-term appreciation is often a big gamble! If you buy real ... 02/25/2011

5 Things You Should Know Before You Flip A Propertyby William Bronchick, Esq.   1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5 $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell. 2. Get an inspection on the home - Get a ... 02/22/2011

The Bluffs Subdivision Slidell, LA (edit/delete) The Bluffs Subdivision Slidell, LA The Bluffs is located in Slidell, LA off of Military Road behind Cross Gates. This fantastic Community was developed my Miramon.  The Bluffs is a gated community comprised of approximately 70 secluded acres of home sites. Located just minutes from state-of-the-art health clubs, multiple hospitals and clinics, several groceries, parks, restaurants, theaters and more!  The Homes range from about 3,000- 6,000 square feet and are all architecturally-distinctive.  In 2010 the sold prices of homes varied from $450,000 to $750,000. For more information about the Bluffs are any other community in slidell please visit http://www.realestatepub.com or contact David Stewart David- Realtor Cell: 985-710-1728 Email: d... 02/21/2011

Turtle Creek Subdivision Slidell, LA (edit/delete) Turtle Creek Subdivision Turtle Creek Turtle Creek subdivision is located off of Military Rd right outside of Slidell city limits and lies inside one of the most desirable school districts.  This community was developed by Miramon construction company.  It is comprised of a wide variety of homes ranging from 20 years to new construction.  All of the homes have there own distinct style.  The grounds are like a park like setting and the subdivision has a very active home owners association.  The homes range from 2800 to 5500 square feet and in 2010 the old prices ranged from $315,000 to $400,000. For more information about Turtle Creek or any other community in Slidell please visit us at http://www.propertypromenade.com.  Or call David St... 02/21/2011

Tuscany Subdivision, Slidell, LA (edit/delete) Tuscany Subdivision Tuscany is located in Slidell, LA off of Robert Road right out side of the Slidell city limits and above I-12. This fantastic Community was developed in the early 2000's, most of the homes are 6 years old to new construction. Tuscany is located in flood zone C and above I-12 which makes it a great option for lower flood insurance. The setting is private and rural with most lots sizes around 90 X 170.  Easy access to several groceries, parks, restaurants, theaters and more!  The Homes range from about 2200 to 3500 square feet and are all comprised of mainly traditional and french country in style.  In 2010 the sold prices of homes varied from $220,000 to $450,000. For more information about Tuscany Estates or any other co... 02/21/2011

Country Club Estates Subdivision, Slidell, LA (edit/delete) Country Club Estates Country Club is located in Slidell, LA off of  Robert Road and across from John Slidell Park. This fantastic Community was developed 1960's and 70's. Country Club is located in one of the most desired school districts and just minutes from Slidell Athletic Club, St Margret Mary Church and Slidell Memorial Hospital. Easy access to I-12, several groceries, parks, restaurants, theaters and more!  The Homes range from about 1900 to 3000 square feet and are all comprised of mainly ranch and some two stories in style.  In 2010 the sold prices of homes varied from $150,000 to $200,000.  Country Club is also know for its extra large frontage lots. For more information about Country Club or any other community in Sl... 02/21/2011

Carr Drive SLIDELL, LA Easy Access to Hwy 11 to commute to and from New Orleans 10,500 sqft Vacant Land $69,000 Lot Size 10,500 sqft DescriptionNavigable waterways on both sides of the property. Great view of marsh on North side of Carr Drive. Easy access to and from New Orleans. One can be home early enough to fish after a hard days work. Other Special Features Own Waterfront Property on Both Sides of The Street Additional Photos FrontMarsh sideView of Rear Contact Info John W Walters JrFrank Rubi Real Estate, LLC(985) 640-1817 For sale by agent/broker Equal Opportunity Housing 02/21/2011

A House Is its Own Best "Comp"by Attorney William Bronchick   An appraisal is a certification by a licensed professional that a house is worth a certain amount based on comparable sales. It is, however, an opinion of value based on one person's analysis and experience. The actual "market value" is the amount a buyer is willing to pay and for which a seller is willing to sell under normal circumstances.   Investors often misunderstand the phrase market value. Here's a good way to understand this: Imagine that a home has been on the market for several months. Typically, homes in this particular market sell within a few weeks. But if the seller doesn't receive a single offer, you have to assume the property is overpriced. Several factors may contribute to the problem, including the conditi... 02/17/2011

How to Get a Hard Money Loanby William Bronchick, Esq.   So, you just got that great bank-owned property under contract and  now you need a loan to buy, fix and flip.  You went to three hard money lenders and they turned you down.  Why?  Because you STINK at selling your deal.  That's right, you need to learn how to SELL your deal to a lender.   Start by getting a binder from Office Depot, with a set of tabs you can print on.  Mark the tabs into these sections:   Here's what you need in each section:   About Me. This section should contain a FNMA 1003 loan application, a copy of your credit report, a copy of your driver's license and a brief resume of your experience.  If you have no experience, then at least put a list of books and seminars you've been through.  A list of references wo... 02/17/2011

Common Investor Legal Mistakesby Attorney William Bronchick You can't expect to reduce your risk of getting sued to zero, but you can take steps to reduce your risk as much as possible. In any situation where your money is at risk, ask yourself, "Is there a better way?" Know the legal and financial risks of the situations in which you place yourself, your business, your family, and your assets.Without covering every issue involved, here are a few common mistakes that investors make, novice and experienced alike.   Poor legal forms-It's amazing how short-sighted novice investors can be when it comes to shelling out money for good legal contracts. They often buy contracts at discount office supply stores, from Internet Web sites, or borrow them from friends. However, a real estate deal is... 02/17/2011

Setting Your Financial Goalsby William Bronchick, Esq. I bet you wrote down your goals in January 1st this year. Is that all? Did you re-think them this month and write it down again? If you don't know what your goals are, how are you going to measure whether you've reached them. And, I would bet that if you didn't write them down at all, you are in the same financial position as you were on January 1st. Ouch!   Is it time for a change of strategy? Maybe so, read on...   Take the most accurate archer, the best in the world. I guarantee that I can do a better job of shooting than he can...IF...you first blindfold him and turn him around a few times. You might think, why that is ridiculous. How is he supposed to hit a target he cannot see? Here's a better question: How are YOU supposed to... 02/17/2011

Daily Real Estate News  |  January 28, 2011  |   Share  10 Cities Where Home Prices Will Rise in 2011  While home prices are expected to continue to fall in most metro areas, Clear Capital's Home Data Index report says a few cities are already on the rebound and showing some gains in home values. "There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn't valid anymore," Alex Villacorta, senior statistician at Clear Capital, told MSNBC. "Overall we're seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery."Clear Capital takes into account unemployment rates, foreclosure rates, and... 02/17/2011

The Basics of Foreclosureby Attorney William Bronchick   Foreclosure is the legal process of the mortgage holder taking the collateral for a promissory note in default. The process is slightly different from state to state, but there are basically two types of foreclosure, judicial and non-judicial. In mortgage states, judicial foreclosure is used, whereas in deed of trust states, non-judicial foreclosure is used. Most states permit both types of proceedings, but it is common practice in most states to use exclusively one method or the other.   Judicial Foreclosure   Judicial foreclosure is a lawsuit that the lender ("mortgagee") brings against the borrower ("mortgagor") to get the property. About half of the states use judicial foreclosure. Like all lawsuits, it starts with a summons a... 02/10/2011

You Have to SELL a House to Get it Soldby Attorney William Bronchick The market is slowing and investors are drowning in house payments. Is there an end in sight? Probably not. But, is there something you can do about it? Certainly dropping the price until you get it sold it one way to do it. I've got a better solution - SELL the house.   What amazes me is that most sellers don't sell their houses. They advertise houses, they list houses, but they don't SELL houses. In a good market you can rest on your laurels, but in a soft market you have to be willing to do something different. Stop whining about the slow market and start SELLING your houses!   There's 5 tips for selling a house faster in a slow market:   1. Make Your Listing Look Great!   Most MLS listings are boring, informative a... 02/10/2011

The Basics of Foreclosure "Short-Sales" by Attorney William Bronchick You will likely come across dozens of properties in foreclosure with little or no equity, that is, the seller owes at close to or more than the property is worth. In these situations, lenders are sometimes willing to accept less than the full amount due, commonly referred to a "short pay" or "short sale."   Negotiating a short sale with the lender is a difficult process, generally because it is a daunting task finding a bank officer who has the authority to accept a discount. You will have to call around to locate the lender's "Loss Mitigation Department". More than likely, each lender you deal with will have a separate name for this department, so be patient when calling. Much like getting your phone bill corrected, ... 02/10/2011

How to Determine Property Values in Today's MarketBy William Bronchick, Esq. In today's market where there are so many foreclosure and bank REO sales, figuring out the real value of a property can be difficult.  The comparable sales method is the most commonly used - and still the most accurate one - to determine the value of single-family homes, condominiums and smaller rental buildings (two to four units).   Start by researching information about sold properties on your local government Web sites for your target area.  Many tax assessor's offices and county courthouses offer searchable online databases that allow you to view the prices for properties within a specific area.  They usually list full details about the properties, including square footage. Plus, subscriber Web sites such ... 02/09/2011

5 Things You Should Know Before You Flip A Propertyby William Bronchick, Esq.   1. Money is made at the buy, not the sell of your flip. When flipping a house your money is made at the purchase not at the sell of the house. So, many times people buy a house with the intensions of making a huge profit only to find out that they could not make any money after all the renovations because the purchased price of the house was to high. When you purchase your property you need to be sure that you buy the house with enough money to make renovations, have carrying cost, and add about 5 $6,000. Now, cost is at $147,000, and that is if everything goes as planned. Profit is under 10,000 dollars. The mistake was made at the purchase at the home, not the sell. 2. Get an inspection on the home - Get a ... 02/09/2011

January 2011 Market Report for Slidell, LA (edit/delete) January 2011 Market Report for Slidell, LA I began doing a monthly market report for Slidell, LA in October.  I will be very consistent in doing this at the beginning of each month from here on.  By doing this we can judge what the market is doing in Slidell, LA.  If anyone has any questions please don't hesitate to contact me at (985)710-1728 or by email at dstewart.realestate@gmail.com David Active Listings as of 1/31/2011-                                 787 New Listings from 1/1/2011- 12/31/2011-              154 Listings Under Contract or Pending-                            140 Sold Between 1/1/2011- 1/31/2011-                         35 Again, if you have any questions regarding this report or any other real estate need plea... 02/08/2011

Slidell, Louisiana is located in southeastern Louisiana on the northeast shore of Lake Ponchartrain.  It is only a thirty minute drive to the city of New Orleans to the west or the Biloxi Coast and Casinos to the east.  Slidell, Louisiana is named after John Slidell, a Louisiana Politician who was born in New York and later moved to Slidell in the early 1800's.  The city of Slidell was incorporated in 1888.  Slidell was originally the home of the N.O.N.E (New Orleans and Northeastern) Railroad building camp and later a shipyard which employed many residents building aircraft, ships and tanks for WWII. Today, while Slidell is close enough to the city of New Orleans to be a part of all the excitement and culture, it is also just far enough to continue to have a small sleepy-town feel.  T... 02/04/2011

What does your future home look like? Where is it located? As you hunt down your dream home, consult this list to evaluate properties and keep your priorities top of mind.NeighborhoodsWhat neighborhoods do you prefer?SchoolsWhat school systems do you want to be near?TransportationHow close must the home be to these amenities: Public transportation Airport Expressway Neighborhood shopping Schools OtherHome Style What architectural style(s) of homes do you prefer? Do you want to buy a home, condominium, or townhome? Would you like a one-story or two-story home? How many bedrooms must your new home have? How many bathrooms must your new home have?Home Condition Do you prefer a new home or an existing home? If you're looking for an existing home, how old of a home would you consider? How m... 02/04/2011