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The past few years of frantic activity in real estate attracted
many first-time investors who sought and often realized sub-stantial profits.http://www.urishpopeck.com/pdf/RealEstateMonitorSummer06.pdf.
This was the result of rising values from well-located real estate plus the
upside leverage from low interest loans. A major benefit of real estate
invest-ing is the ability to finance the major part of the investment with
bor-rowed funds. As can be seen from the above exam-ple, the benefits of real
estate invest-ing – the ability to borrow the major portion of the investment
and the growth of NOI over time can produce good returns, provided the cap rate
on resale is no higher than the ini-tial cap rate. The major profits from real
estate more often come from identifying locations ready for rapid growth or by
converting properties to higher and more profitable uses. Sarheim points out
that the cycli-cal nature of hotel real estate should never be underestimated. A
combination of circumstances is causing an increasing interest in the private
real estate annuity as a way to reduce or defer taxes on gains. On the other
hand, the unwillingness of Congress to termi-nate estate taxes means that
pass-ing the property by inheritance could mean a significant sum will be paid
upon the death of the present owner. Owners of real estate portfolios should
consider the benefits of a pri-vate annuity with their children (or other
younger family members). An annuity, while keeping property within the family,
can enable the older family member to continue receiving income and at the same
time exclude the real property from his estate. He wishes to remove the property
from his taxable estate while The education requirement for filing a license application is 210 hours of classroom instruction in “Core” real estate courses and “Related” courses acceptable to the Texas Real Estate Commission.http://www.purvisrealestate.com/pdfs/corres_pre.pdf. The Commission requires completion of 30 credit hours in Law of Agency, 30 credit hours in Law of Contracts, 60 credit hours in Real Estate Principles and 30 credit hours in any other “core” real estate course. The remaining 60 hours of instruction may be in “Core” real estate or “Related” real estate subjects such as college or university accredited course work in English, Speech, Psychology and General Business subjects. A license candidate who has college credits, may complete the 150 required classroom hours of “Core” courses while submitting evidence of college education documentation for evaluation by the Texas Real Estate Commission. Submit a completed Request for Evaluation of Education and copies of related documentation for any of the following forms of education: college or university transcripts; completion certificate(s) for course(s) offered by a TREC certified proprietary school; completion certificate(s) for GRI designation courses (Course I, II, III) offered by a local, When education is acquired from more than one provider, compare the TREC Course Numbers to prevent duplication of courses. If you are not certain which courses will be accepted by TREC, the individual student is responsible for obtaining verification of acceptability from the Commission. TREC will not accept hours when the TREC Course Number of pre-licensing education duplicates the TREC course number of a previously completed course (unless it 2006-2007 Edition NORTH CAROLINA REAL ESTATE MANUAL The North Carolina Real Estate Manual, published by the Real Estate Commission, is a comprehensive reference addressing real estate law and brokerage practice, North Carolina Real Estate License Law and Commission rules.http://www.ncrec.state.nc.us/forms/RealEstateManualOrderForm.pdf. It serves as the authorized textbook for the real estate broker post-licensing courses and is highly recommended for licensees, attorneys, instructors and anyone else engaged or interested in real estate law and brokerage practice. HOW TO ORDER: NORTH CAROLINA REAL ESTATE MANUAL 2006-2007 Edition Patrick K. Hetrick Larry A. Outlaw Published By The North Carolina Real Estate Commission Go to the Commission’s web site, www.ncrec.state.nc.us, select “Publica-tions/Bulletin” and click on NC Real Estate Manual to link directly with the book distributor. For checks, please send only cashier’s or certifi ed check or money order, payable to: North Carolina Real Estate Manual. MAILING ADDRESS: North Carolina Real Estate Manual NORTH CAROLINA REAL ESTATE MANUAL The chart below compares significant real estate market indicators that provide a comparison of the past 2 years activity for the “Keys” real estate market, Keys-wide and in the four major market areas.http://www.realestatefloridakeys.com/pdfs/spring2004.pdf. Buyer interest in “Keys” real estate, residential and commercial, continues to exceed the supply of properties available. www.RealEstateFloridaKeys.com Real Estate Market News To comprehend the growth of the “Keys” real estate market one needs to look at what has occurred in property sales, dollar volume of sales, days to sell and inventory of properties available to purchase. The factors causing the Keys real estate market to experience consistently growing buyer interest, which is not the situation throughout the country, are: We, therefore, anticipate another record real estate year throughout the Keys. Coldwell Banker Schmitt Real Estate Co. would like to thank you, our clients, for your business over the years. Because of the trust and confidence you have placed in our sales associates to assist you in fulfilling your “Keys” real estate needs we as a Company have been able to consistently grow in market share to become the dominant real estate Company from Key Largo to Key West. For that reason, in 2004 we will build a new real estate office in Marathon at the location of “Brian and DD’s” restaurant in front of our current location. In addition, CBSREC will, upon completion of the new office, convert a major portion of the current facility to a Real Estate Training Center, the 1st of its kind in the Keys. We will be able to provide training in all aspects of the real estate profession for our new as well MBA-Real Estate Finance and Investment Concentration Requirements The Department of Finance offers concentrations in three areas, within which further specialization is possible: Finance, Financial Analysis, and Real Estate Finance and Investment.http://www.realestate.depaul.edu/files/ConcentrationTextShort.pdf. Concentration in Real Estate Finance and Investment This concentration is designed for students with a career interest in one of the five specializations in real estate: management and operations; finance and transactions; urban planning and management of public sector enterprises research; market analysis and decision support; development and entrepreneurship. Students typically take four to six courses for their concentration. In order to provide flexibility, the concentration requires only two of the current Finance department offerings in real estate and then permits students to select the remaining courses in their concentration plus their electives from a list of Economics, Finance, Marketing, Law, Public Policy, Sociology, and Geography courses. REQUIRED COURSES: FIN 530 Real Estate Investment and Finance FIN 531 Real Estate Finance FIN 533 Real Estate Market Analysis and Valuation BLW 798 Legal Issues in Real Estate FIN 535 Real Estate Investment Real Estate Seminar (may be taken more than once) Topics include The Culture of Space and Place, Brownfield Development and Public Policy, and Modern Architecture and Development: The Historic Problem. Special Topics in Real Estate (may be taken more than once) Recent topics include Design and Development of Senior Housing; Design and Development of Affordable Housing; Retail and Mixed Use Development; Commercial Real Estate If you understand the value of a strong partner, consider aligning yourself with GMAC Real Estate and the General Motors family of brands.http://www.gmacrealestate.com/about/GMAC_Intl_Bro.pdf. As a Master Franchisee, you would be granted the exclusive rights in a selected territory to license GMAC Real Estate franchises and oversee the development of the GMAC Real Estate brand. These exceptional opportunities will be offered to qualified investors interested in developing and growing the GMAC Real Estate brand in their country. • Wholly owned subsidiary of General Motors since 1919 • One of the world’s largest and most successful financial institutions • Operations serve 41 countries • Provides automotive financing, commercial finance, insurance, mortgage products and real estate services through companies such as GMAC Residential • Sixth-largest mortgage company in the United States • Provides real estate companies with the opportunity to extend their services by offering home buyers a wide variety of mortgage products • Provides a suite of home services to real estate brokers, Sales Associates and consumers • Clients include more than 14,000 transferring employees from some of the world's most recognized firms One of North America’s largest real estate organizations Franchise Operations As a GMAC Real Estate Master Franchisee, you will enjoy a clearly defined competitive advantage—our unique Premier ServiceSM business philosophy and Home Services business strategy. These two elements combine to provide customers with a full suite of services that ensure a seamless, one-stop real estate transaction. Premier Service differentiates our GMAC Real Estate brand Pocket Real Estate In the competitive real estate market, timing is critical and quickly accessing the most current market information gives motivated agents the edge in a sale.http://www.pocketrealestate.com/media/hpsuccessstory.pdf. Real estate agent Michael Johnston, who manages about 40 other real estate agents in the Keller Williams Realty East Idaho office, knows that building credibility with clients requires the ability to provide complete and up-to-date information when the customer wants it. He encourages his agents to carry an hp iPAQ PocketPC equipped with Pocket Real Estate. “There’s nothing worse than having to tell a potential home buyer ‘I’ll get back with you later.’ Our agents can access the MLS while they are out looking at properties to give clients instant access to information they need to make decisions.” Mike is a veteran user of PDAs, having first bought a Palm Vx in 1998 at a Real Estate Convention. “I knew that I was part of the in-crowd when I could beam one of my business cards to another Palm user. I had one small, compact device where I could keep track of my calendar, contacts, emails, and client notes.” “When I am out and about, I always carry my iPAQ because I can pull up the entire Multiple Listing Service database with a program called Pocket Real Estate. This program is an ideal application for a real estate agent. Pocket Real Estate is an award winning software program designed for Pocket PC handheld devices that allows agents to: Real estate agents know that meeting potential buyers and sellers typically takes place out of the office – at open houses, at the supermarket, at community meetings. Mike believes that having the tools needed The problem, Shearer says, is that people “come in and get washed out pretty quickly.http://www.realestatesimulator.com/pdf/PAR_Article.pdf. Meanwhile, brokers are making an incredible investment only to find out the person is not really suited to selling real estate.” Given this problem, the Pennsylvania Association of Realtors Institute is offering a computerized suitability test to help potential salespeople determine whether real estate is for them. The test also can be used as a recruiting tool and to help establish agents improve their selling skills, says Kim Ades, president of Upward Motion, the human resources firm based in Toronto, Canada, which developed it. The test, called the Real Estate Simulator, can be taken via the Internet or on CD-ROM. The scenarios are based on real-life situations that many real estate agents face, Ades says. The assessment was developed under the guidance of Igor Kotylar, chief executive officer of Upward Motion, who has a doctorate in behavioral studies, and a number of real estate brokers and agents. To develop the test, Kotlyar started by interviewing successful real estate agents and reviewing real estate sales literature. Once he identified critical jobs activities performed by real estate agents and the critical skills exhibited by successful agents, he scripted story lines and typical response options. Focus groups, composed of real estate agents, examined the stories and responses for realism and relevance. Kotlyar believes the test is an accurate predictor because “it simulates how you would behave in typical situations that real estate agents encounter every day.” Real Estate Simulator was introduced at the American Real The agency has 265 employees with headquarters in Springfield and Chicago and five remote offices located in Belleville, Champaign, Effingham, Jacksonville, and Peoria.http://www.obre.state.il.us/CONSUMER/firsttime.pdf. The Illinois Office of Banks and Real Estate is responsible for the supervision, regulation, and examination of 510 state-chartered banks with assets in excess of $146 billion, 18 foreign bank branches with assets in excess of $43 billion, and 214 corporate fiduciaries with trust assets in excess of $2.3 trillion. The agency charters, examines, and supervis-es 48 state-chartered savings banks and savings and loans. Additionally, the Office of Banks and Real Estate licenses and regulates over 1,700 mortgage brokers and mortgage bankers, 73,000 real estate professionals, 1,700 auction-eers, and 5,800 appraisers in the state. The Office of Banks and Real Estate also registers/licenses land sales, timeshare, check printers, leasing agents, home inspectors and pawnbrokers. All of the agency’s revenue is derived from fees paid by our regulated and licensed entities. The agency budget must be approved by the Illinois General Assembly and signed by the Governor. The First Time Home Buyer Real Estate Agents A real estate agent acts on behalf of the buyer or the seller to purchase or sell real estate. A salesperson has all the powers of a real estate agent, yet they may only engage in real estate activities under a licensed broker/firm. The Office of Banks and Real Estate (OBRE) licenses real estate professionals. Your real estate agent will need your mortgage qualification, which will strengthen any offer you make. • If you prefer to utilize the services of a To operate efficiently, our real estate markets require a system for establishing and protecting ownership interests.http://www.business.uiuc.edu/orer/V11-4-1.pdf. Since Colonial times, the predominant system for achieving this end in the US has been the “recording system,” which relies on the maintenance of a public record con-taining the history of all transactions for all privately owned land. The would-be buyer of a parcel can consult this record to gather evidence that the seller has good title and there are no competing claims. A buyer thus faces some risk of losing his interest if an unknown party later asserts a claim. This risk leads most buyers to purchase private title insurance, which provides financial indemnification in the event of a loss. It is also typical for a mortgage lender to require a real estate buyer to purchase title insurance for at least the amount of the mortgage loan. The Torrens system ultimately spread to many English-speaking countries, includ-ing England, which adopted a version of the system in 1925 as part of sweeping land reform legislation. The Torrens system differs from the traditional recording system in that it establishes a legal procedure whereby the state guarantees the owner’s title. The process begins with a court proceed-ing that involves an examination of the history of title to the real estate in question, in an effort to identify potential claimants. The court ultimately issues a certificate to the owner that establishes legal ownership against any claims that remain undeclared or unrecorded at the time of registration. Among reasons for optimism is the bipartisan support seemingly enjoyed by both the House and This simple analogy generally describes real estate value cycles.http://www.pwcreval.com/survey/cyclesspecial.pdf. Real estate value cycles exist in both the residential and commercial property markets, and this in turn af-fects owners, tenants, investors, and lenders. Rents, cap rates, and valuation are impacted by the cyclical nature of real estate. The modeling and forecasting of real estate value cycles has received significant attention in the real estate industry over the last seven years. Public and private real estate investors are cognizant of overbuilding of the 1980s and the subsequent effects upon the real estate industry in the early 1990s. The explosion in the quality, quan-tity, and timeliness of real estate infor-mation over the last 10 years has pro-duced a more efficient real estate asset class. PwC’s real estate value cycle methodology incorporates both the physical real estate cycle and the cap-ital market real estate cycle through a simple concept. The physical real estate cycle addresses real estate eco-nomics — the interaction between supply and demand of real estate that impacts vacancy rates and rental rates. The capital market real estate cycle addresses the redistribution of real estate assets from sellers to buyers — the creation of real estate value through new construction. The combination of the physical and capital market real estate cycles occurs in the formula known to many in the real estate industry…V = I/R, wherein V equals value, I equals income, and R equals the cap rate. The physical real estate cycle directly impacts the income (I) of real estate assets. The addition of real estate cycle models can It is my great privilege to present you with the annual report on the state of the Real Estate Commission for 2004.http://www.hawaii.gov/dcca/areas/real/main/reports/ar2004.pdf. The draft of the portions of the re-codification bill that did not pass last year will be submitted to the 2005 legislature and the Real Estate Commission humbly asks for your support. These commissioners will be the key to the future of the Real Estate Commission and the future of new programs that will influence the lives of all of our licensees and general public for the better. The Commission is striving to make the real estate practice in Hawaii more professional and more accountable than ever before. The Commission, through the Professional and Vocational Licensing Division, developed and initiated a plan for the 2004 on-line renewals for real estate licensees with fee payment by credit card. One of the goals of the plan is to increase the number of on-line renewals, which was about 30 percent for all real estate licensees for the initial on-line renewal in 2002. Table 1 and Chart 3 provides detail on disciplinary actions and Chart 4 shows the distribution by the type of real estate activity involved in the case. Making any false promises concerning any real estate transaction of a character likely to mislead another. Salesperson acting or attempts to act as a real estate broker or represents or attempts to represent any reai estate broker other than the one employed or associated with. It appears that the Commission's website is the number one communication tool with the real estate and consumer communities. While the Bulletin provides articles on current licensing and real Guidelines for completing the Real Estate Fraud Complaint Form Before filling out the attached complaint form, please take the time to read these guidelines.http://www.da-tulareco.org/PDF/RealEstateFraudComplaintForm.pdf. They will help you to understand our function, and we will be better able to understand and act on your compliant. What We Can Do: investigates real estate fraud related cases occurring in Tulare County. The types of cases which will be considered for investigation by the TCDA Real Estate Fraud Unit are frauds that result from various fraudulent transfers of title of real property; recordation of fraudulent real estate documents; home equity sale contract fraud, and mortgage foreclosure consultant fraud. When we receive a consumer complaint, we review all the information and the supporting documentation that is included. If the complaint does not meet the above described criteria to open a case, we will do our best to refer you to an agency that will appropriately handle the type of matter involved. Many real estate consumer disputes are not appropriate for government action, but are altogether proper for private legal action. It is generally a good idea to consult with private counsel to explore private legal remedies that might be available. This office is not legally permitted to represent individuals in civil matters, take action in order to obtain money owned a consumer, help cancel any debt due on a contract that was signed, resolve or mediate individual consumer complaints, or obtain any other personal relief. Those functions are performed by a number of other government agencies established for that purpose. If you believe you have been a victim of real The City's large portfolio of income-producing real estate was managed without a formal portfolio plan.http://www.sandiego.gov/real-estate-assets/pdf/grubbellis070131.pdf. The City of San Diego portfolio includes a much greater proportion of real estate leased to third parties than is found in other municipalities or government organizations. The business model for this portion of the portfolio should be based on practices in investment real estate organizations rather than those found in municipalities. The processes found herein are drawn from the portfolio strategies of real estate investment management organizations and real estate investment trusts. It would demonstrate the applicability of processes that are well-proven in the corporate and the investment real estate environment, but that have not yet been widely adopted in municipal real estate. The appropriate business model for this portion of the portfolio should be based on practices in investment real estate organizations rather than those found in municipalities. However, we found no municipal real estate organization with operations that served as an overall model of best practices. Expertise – about half of the personnel in READ have not worked in another real estate organization, and many have educational backgrounds that are not related to real estate. While they have considerable experience gathered in the course of their work in READ, this group lacks the flexibility and knowledge of real estate technique that comes from working for a nongovernmental real estate organization. In investment organizations For real estate investment organizations, whose primary focus is the execution of a real estate strategy, authority is Published since 1927, we are confident that you will receive an excellent response from advertising in this award-winning magazine.http://www.realestatenewsusa.com/pdf/RealEstateNews2006MediaKit.pdf. If you have any questions, please feel free to give me a call toll free at 1-888-641-3169 ext. 17 or email me at Bonnie@RealEstateNewsUSA.com. We look forward to being of service. Over the years I’ve had the pleasure of reporting many of your greatest transactions. Now I would like to share with you my opportunity to join Real Estate News magazine. I began my career in real estate journalism at Realty & Building magazine. I started there in 1979 as an editorial assistant. In June of 2000 I became associate editor of Real Estate Chicago magazine. In addition, I had the frequent opportunity to write for the company’s website, GlobeSt.com. Real Estate Chicago transitioned into Real Estate Mid-America, which covered various Midwest markets. In 2006, I look forward to the opportunities of working at Real Estate News. In addition, I’m anxious to reacquaint myself with you and to introduce you to the plans we have in store for the magazine, especially an informative Real Estate Conference. Real Estate News will now be covering many more industry meetings, awards dinners and conducting seminars. Since 1927, Real Estate News has covered the commercial real estate industry in the Chicagoland area with a thoroughness and level of expertise that no other publication in the city can match. Real Estate News is edited and distributed to get business for our advertisers. Each issue is posted on the Real Estate News website RealEstateNewsUSA.com with complete pages including your ad! | ||
