Real Estate Careers Growing

Real Estate Careers: 25 Growing Opportunities


Real estate, an industry both large and diverse, is on the rebound. This excellent guide offers an overview with the perspective of distance and insights of work-a-day knowledge. Explores various careers in real estate including relocation, appraising, realtor, office manager, leasing agent and auctioneer. Stories and quotations are based upon extensive nation-wide interviews. Features other information sources at the end of most chapters and in the appendices.

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Homesorg Published Mortgage Rates Update


(PRWEB) May 19, 2012

Homes.org mortgage report is delivering good news to those wanting to refinance or buy a home. When it seemed mortgage rates couldn?t get any lower, the average drops below 4% for the first time since Bankrate began surveying lenders. The 30-year fixed rate mortgage decreased by 5 basis points while the 15-year fixed rate remained unchanged since last week.

Current interest rates are:

3.97% – average rate for a 30-year fixed rate mortgage

3.20% – average rate for a 15-year fixed rate mortgage

Americans can thank the Eurozone?s shaky economic situation for extremely low interest rates that seem to have no floor. But now the question is, ?can rates hold at this record low rate, or will they begin to trend upward?? There are a variety of economic reports out this week that could have an impact. Below is an overview of this week’s most important economic activity.

Tuesday: April Retail Sales
Tuesday: Consumer Price Index
Wednesday: April Housing Starts
Wednesday: Fed Meeting Minutes

In an economy where spending accounts for 70% of the activity increases are a good thing. Experts were expecting very small gains to the tune of 0.2% and that?s exactly what they got when volatile gasoline sales were taken out of the equation. It?s not a very strong start of the second quarter.

And what about inflation on those things people are buying? The Consumer Price Index found measurements for April were changed since March when there was a 0.3% rise. The flat rate is being contributed to gas priced which dropped during April. However, the 12-month ?core? value, which factors in food and gas, has 2.3%. Slightly higher than the Fed?s 2% inflation comfort zone.

There was good news in the April Housing Starts report after a few months of disappointing numbers. Homes.org will be providing full coverage and comparisons of housing starts in a special report tomorrow.

Due to the low level of inflation in the Consumer Price Index and the weak consumer spending, the Homes.org mortgage team is predicting that mortgage rates will stay flat this coming week for both 30 year fixed-rate mortgages and 15 year fixed-rate mortgages.

To find more information on mortgage rates, new home listings and real estate agents, please visit: Homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures

Star Nine Ventures is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

Chivas Usa Coaches: Bob Bradley, Preki, Thomas Rongen, Hans Westerhof


Purchase includes free access to book updates online and a free trial membership in the publisher’s book club where you can select from more than a million books without charge. Excerpt: Bob Bradley (born March 3, 1958 in Montclair, New Jersey) is the current manager of the United States men’s national soccer team. Before taking over the national team in December 2006, he had previously coached in the American college game and later in Major League Soccer, managing the Chicago Fire, MetroStars, and Chivas USA over nine seasons. His son, Michael Bradley, is a professional footballer currently playing with Borussia Mönchengladbach of the German Bundesliga and the national team. Bradley was born and raised in New Jersey, playing soccer at West Essex High School and Princeton University. Bradley’s managing career started in 1981, when he was named the manager of Ohio University at the age of 22. He was lured away by University of Virginia manager Bruce Arena and spent two years as his assistant, before taking the top job at his alma mater, Princeton. Bradley led the Tigers from 1984 to 1995, winning two Ivy League titles and reaching the NCAA Final Four in 1993. In 1996, Bradley became Arena’s assistant once again, this time with D.C. United of the newly formed Major League Soccer. After two seasons there, he became the first manager of the expansion Chicago Fire, leading them to the MLS Cup and US Open Cup double in 1998. For this success, he was named MLS Coach of the Year. He won more silverware in 2000 when the Fire won the Open Cup. After the 2002 MLS season, Bradley resigned as manager of the Fire and took the reins of his home state team, the MetroStars, which had previously considered him for the job in 1996 and 1997. During his tenure, he had the historically underachieving club headed in the right direction as the MetroStars advanced to the US Open Cup final for the first time in club history in 2003. Bradley stayed wi… More:

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For Sale By Owner

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Rick Ross

Rick Ross
Event on 2012-06-01 21:00:00

Rick Ross

You don't know how big a star really is until you see what gets pulled into its orbit. Simply shining isn't enough. But when you witness entire worlds bend to its will then greatness is recognized. After the runaway success of his hit single "Hustlin" Rick Ross' star was clearly on the rise. His place in the hip-hop universe was solidified when his debut album Port of Miami was certified Gold with over 700,000 copies sold. Now he returns with his sophomore disc, Trilla, (boss speak for "realer than the fake") to separate true stardom from the hot balls of gas trying to compete. "This album is better, bigger," says Ross. "When 'Hustla' took off I finished Port of Miami in the back of the van on promo tour, this one I really sat down with producers and everybody I really wanted to work with and put together something that's really timeless." With the street single "Trilla" serving as the warning shot, the official lead-off cut "Speedin'" enlists the rhythm and gangsta swagger of R. Kelly over a rollicking sound bed by the Runners. "The concept is being young men chasing a dream not ready to stop," Ross explains. "To young niggas like me in the street stopping is too close to dying, so I'm speeding, speeding to be the best." After the experience of touring with Jay-Z and rocking 50,000 seat arenas across the globe, Ross has laced his music with a sentimental yet guarded edge that defines hip-hip's classic offerings. DJ Toomp, Cool N Dre, and The Runners are among the track masters lending their talent to Trilla and the results are nothing short of phenomenal. The monumental "Maybach Music" features Jay-Z and takes the chill factor of the "Hustlin" remix to unfathomable levels. That song will be battling head-to-head with "Luxury Tax" (featuring Lil Wayne and Young Jeezy) for record of the year. "I'm coming back to my roots giving the streets what they want, giving them what I learned over the last year," Ross says confidently. "I've done shows in Dublin, Ireland. I've repped Miami in Alaska. I'm the same person, I'm just using my resources now." Focused yet diverse in his talents, Rick Ross will make his acting debut alongside Laurence Fishburn in Days of Wrath and is preparing his documentary on Miami's top hustlers, MI-YAYO. Furthermore, he is executive producing the debut release of his group, Carol City Cartel. To say that Rick Ross's stars are aligning would be a gross understatement. "I'm A-List top shelf right here," Ross says proudly. "This is strictly that Caterpillar Sushi. Port of Miami let them know that I rep the streets, but this time we reppin the streets and letting them know we commercially successful. So expect some big, big things."

at Green Iguana Stadium
2520 N. Dale Mabry Hwy.
Tampa, United States

Dick Dale
Event on 2012-08-18 20:00:00

Supporting Acts: Matt Hurray, The Tequila Worms

Dick Dale

The Dick Dale Phenomenon. His style is something different and unique. Since his first appearances Balboa, Ca. at the famed Rendezvous Ballroom, he has set and broken attendance records everywhere he's performed. His appearances at the Rendezvous Ballroom broke every existing record for the Ballroom by drawing capacity crowds of over four thousand screaming dancing fans every weekend each night down on the Balboa peninsula. Dick Dale invented surf music in the 1950's. Not the '60's as is commonly believed. He was given the title "King of the Surf Guitar" by his fellow surfers with whom he surfed with from sun-up to sun-down. He met Leo Fender the guitar and amplifier Guru and Leo asked Dale to play his newly creation, the Fender Stratocaster Electric Guitar. The minute Dale picked up the guitar, Leo Fender broke into uncontrolled laughter and disbelief, he was watching Dale play a right handed guitar upside down and backwards, Dale was playing a right handed guitar left handed and changing the chords in his head then transposing the chords to his hands to create a sound never heard before. Leo Fender gave the Fender Stratocaster along with a Fender Amp to Dale and told him to beat it to death and tell him what he thought of it. Dale took the guitar and started to beat it to death, and he blew up Leo Fender's amp and blew out the speaker. Dale proceeded to blow up forty nine amps and speakers; they would actually catch on fire. Leo would say, 'Dick, why do you have to play so loud?' Dale would explain that he wanted to create the sound of Gene Krupa the famous jazz drummer that created the sounds of the native dancers in the jungles along with the roar of mother nature's creature's and the roar of the ocean. Leo Fender kept giving Dale amps and Dale kept blowing them up! Till one night Leo and his right hand man Freddy T. went down to the Rendezvous Ballroom on the Balboa Peninsula in Balboa, California and stood in the middle of Four Thousand screaming dancing Dick Dale fans and said to Freddy, I now know what Dick Dale is trying to tell me. Back to the drawing board. A special 85 watt output transformer was made that peaked 100 watts when dale would pump up the volume of his amp, this transformer would create the sounds along with Dale's style of playing, the kind of sounds that Dale dreamed of. BUT! they now needed a speaker that would handle the power and not burn up from the volume that would come from Dale's guitar. Leo, Freddy and Dale went to the James B. Lansing speaker company, and they explained that they wanted a fifteen inch speaker built to their specifications. That speaker would soon be known as the 15'' JBL -D130 speaker. It made the complete package for Dale to play through and was named the Single Showman Amp. When Dale plugged his Fender Stratocaster guitar into the new Showman Amp and speaker cabinet, Dale became the first creature on earth to jump from the volume scale of a modest quiet guitar player on a scale of 4 to blasting up through the volume scale to TEN! That is when Dale became the "Father of Heavy Metal" as quoted from Guitar Player Magazine. Dale broke through the electronic barrier limitations of that era! Dale still wanted to go further, and as the crowds increased, Dale's volume increased, but he still wanted a bigger punch with thickness in the sound so that it would pulsate into the audience and leave them breathless. The JBL-D130 was doing its job until Dale froze it in the frame that held the speaker, the speaker cone would twist from the heavy playing from Dale and it would soon twist and stop to fluctuate back n forth. Leo, Freddy and Dale went back to the JBL speaker company and told them to rubberize the front ridge of the speaker allowing it to push forward and backward from the signal of Dale's guitar without cocking and twisting. The new updated version was called the JBL D-130F; the F stood for Fender. Leo, Freddy and Dale designed a speaker cabinet and in which they installed 2 -15''-JBL-D130F's. This caused Leo Fender to have to create a new and more powerful output transformer, they would call it the Dick Dale Transformer and it was made by the Triad Company. This became the 100 watt output transformer that would actually peak 180 watts. Nothing like this had ever been done before in the world of guitars and amplifiers. This became known as the Dual-Showman Piggy Back Amp. This is why Dick Dale is called the Father of all the power Players in the world! It is a Phenomena, that Dale is still playing with not only the same vengeance as he did in the 50's, but his playing is unleashed and shredding into the 90's with a focus and power as if from mother nature. He shares the stage with fellow players of all generations up into the alternative's of the 90's. Being completely self taught, Dick Dale plays left handed upside down which was a result of holding the guitar left-handed. The strings became upside-down, chords are designed for right handed players making it very difficult for a left handed player unless he were to change the strings for a left handed guitar, something that Dale never did. Dale is also a master at the Acoustic, Electronic, Bass and Spanish Guitars'. As well as the Ukulele, Banjo, Drums, Piano, Organ, Electronic Keyboard, Harpsichord, Trumpet, Trombone, Saxophone, Harmonica, Xylophone and, believe it or not… the Accordion! Dale was also responsible for another creation to the world of guitar players, "The Fender Tank Reverb". As Dale sang in his shows, he found that he did not have a vibrato in his voice, and he did not like the straight flat dry sound. to sustain his vocal notes, he turned to an old Hammond organ and found a reverb unit and showed it to Leo Fender and together they came up with the "Fender Tank Reverb". Dale then plugged a Shure Dynamic Bird cage Microphone into it and as Dale sang, his voice took on a very rich, sexy and full sound. Later, Dale then plugged his Fender Stratocaster guitar into the Reverb Tank to sustain his guitar notes which became Dale's trademark sound.) (NOTE) Dale had already been titled "King of the Surf Guitar" by his surfer friends before his creation of the Fender Reverb, Dale's first album called "Surfer's Choice" was the first Surfing album to be commercially sold with a picture of Dale surfing by the pier in San Clemente, Ca. with a surfing title on it. This album alone sold over eighty-eight thousand albums in the late 50's and today in the 90's it would be like 4 million. There was not one song on that album that had a Reverb for effects, everything was played with nothing but Dale's sheer force and power. A bit of trivia, Dale's recording of "Miserlou" became the title song for Quentin Tarantino's Blockbuster movie "Pulp Fiction". Dick Dale has been called one of the hardest working men in show business. In the past five years he has maintained a heavy concert tour and public appearance schedule throughout the world. Focusing in Europe, Australia, Japan, Canada, South America and the U.S. He makes time to endorse some of his favorite products, including Dean Markley strings, Dale's string sizes are 16p, 18p, 20p. 38w, 48w, 58w…they use to be 39w, 49w, 60w…..he says he's getting lazy now. Pearl Drums, Zildjian Cymbals, Graphtech String Saddles, Billabong clothing and Australia's Ugg Boot Company. Perhaps his most prominent endorsement would have to be for Fender Musical Instruments. Because of the popularity of Dale's signature playing, Fender added to their inventory of guitars, the making of the Dick Dale Signature Stratocaster which seems to be a favorite amongst the Dick Dale guitar players. John English, Fender's custom guitar maker set out to the task of building Dale's Signature Stratocaster guitar with Dale being the overseer. To be included with his favorites was the honor distinction to be the first musician ever to be endorsed by Telex Corp. Using the Telex FMR450 Digital Wireless which has made it possible for Dale to play his guitar walking into the audience. Along with his Dual Showman Fender Amps, Dale is particular in what tubes that he uses to help create his sound, he has chosen Ruby Tubes from a company called Magic Parts located in Point Reyes Station, California (800) 451-1992 Dale has also recorded original material for Disneyland's Space Mountain roller coaster ride, and the soundtrack for the History of NASA video shown in Space Mountain. Dale's music is being used in all the Disneyland's throughout the world along with being featured in a Disneyland Music album which is being sold by Disneyland. May 21, 1998 a historical day for Disneyland, Dick Dale was chosen to be the person to highlight the grand opening of Tomorrowland by standing on top of Space Mountain (without the use of a safety harness) with his Gold Fender Stratocaster guitar (the beast) and play for all to hear throughout Disneyland "Ghost Riders"& "Miserlou" – Dale's music has gone down in the annals of Disneyland history. Being a unique and versatile artist, Dick Dale is not limited to his musical skills. He has proved to be a respected Home designer and builder, personally designing and hand drawing the elevations and building his parents 7,000 square foot single story dream home in the California high desert so that he can be within easy reach to them. As of January 24, Dale's parent's celebrated their 62nd wedding anniversary, his dad is 86 and his mother is 81 years young. Dale is an accomplished Horseman, Exotic Animal Trainer, Surfer, Martial Arts Expert, Archer, and Pilot. His favorite plane is a Cessna 337B Super Skymaster, a twin tailed, front and rear engine aircraft which was also flown in the military and also sold to the general aviation pilots. Dale has a twin engine pilot rating. Featured in various articles including the Los Angeles Times Calendar Section, Guitar World Magazine, Guitar and Guitar Player Mag and just recently the back cover of Fender Frontline Magazine with his 5 year old son Jimmy Stix holding their Fender Strats. And in 1981, Dick Dale was awarded Guitarist of the Year by Guitar Player Magazine. 2007 Dick Dale Presented 3rd only Personalized Medallion in 40 Years from Guitar Player Magazine as ''Guitar Legend''. 2006 Dick Dale Inducted the First Presidential Historical Society Lifetime Member in Quincy Massachusetts into the Presidential Historical Building. 2006 Dick Dale voted No. 1 Top Concert in 400 concerts and 400 Bands and Artists in Madrid Spain. 2000 Dick Dale Presented "Lifetime Achievement Award" by "The L.A. Weekly Magazine" 2000 Dick Dale inducted into the "White House Congressional Hall of Records" by Congressman "Jerry Lewis" (NOTE) The Complete Dick Dale White House Congressional Records File can be viewed by entering the Personal File listing on the Dick Dale Home Page… 1999 Dick Dale Nominated for "Lifetime Achievement Award" by "The L.A. Weekly Magazine" 1998 Dale Performed on top of "Space Mountain" for Grand Opening of "Tomorrowland" 1997 Dale Recorded and Performed the Music for Disneyland "Space Mountain" 1996 Dale Inducted into the "Hollywood Rock Walk of Fame" – Hollywood, California 1996 Dale presented a Platinum Record award for his performance recording of Miserlou, the guitar instrumental that gave Quentin Tarantino the energy force to create the the all time award movie Pulp Fiction. Miserlou was made the Title song. Dale awarded the Lifetime Pop Music Culture Award from UC Berkeley with Ice-T, John Lee Hooker and Mick Fleetwood (Drummer of Fleetwood Mac) 1989 Dale Inducted into the Surfing Hall of Fame located in the Hall of Champions building in San Diego, Ca.. 1988 Dick Dale and Stevie Ray Vaughn Nominated for a Grammy Award for the music in the motion picture Back to the Beach. 1986 Dale was named Forefather of Rock and Roll by Thirty Years of Rock and Roll, 1963 Dale was the first power rock guitarist to be featured in a double page layout in Life magazine. 1963 Dale was the 1st rock guitarist to perform on the Ed Sullivan Show, The nation's number one national show. Dick Dale was the first person to create the surf music sound. The first to take a sport and develop a music for it. He was also the first to have more than one record on the Top Ten charts at one time, and also to have five songs from a single album on the charts at once. He was first to sell out the Los Angeles sports arena. Dick Dale's Performance Movie Credits: "A Swinging Affair" Featured role as Dick Dale "Let's Make Love" Starring: Marilyn Monroe "Beach Party" Starring: Annette Funacello & Frankie Avalon, featured role as Dick Dale "Muscle Beach Party" Starring: Annette Funacello & Frankie Avalon, featured role as Dick Dale "Back To the Beach" Starring: Annette Funacello & Frankie Avalon, featured role as Dick Dale Dick Dale's Music for Movies: Movie – "Pulp Fiction" – Title Song: 'Miserlou' Movie – "Escape From L.A." – (starring"Kurt Russell") Song:'Scalped' Movie – "Space Jam" – Song: 'Miserlou' Movie – "Kid in King Arthur's Court" – Song: 'Surf Beat' Movie – "The Heavyweights" – Song: 'NiteRider' Movie – "Barbed Wire" – Song: 'Nitro' Movie – "American Vampire" – Song: Movie – "Jesus's Son" – Song: Surf Buggy' ———————————————————————————– National Television Commercials: TV – "Domino's Pizza" – Song: 'Miserlou' TV – "Mountain Dew" – Song: 'Miserlou' TV – "Nisson Maxma" – Song: 'Miserlou' TV – "Barclay's Bank of London" – Song: 'Nitrus" TV – "Philips Flat Screen TV" – Song: 'Esperanza' TV – "Bartles n Jame's" – Song: 'Surf Beat' TV – "Paramount Great America Amusement Parks" – Song: 'Nitro' TV – "Soloflex Workout Station" – Song: 'Take it Off' TV – "PBS" Public Broadcasting System – Rock n Roll Documentary – Dick Dale as a Rock n Roll Innovator- ——————————————————————- "Yamaha World Racing Team" – Song: 'Scalped' "Denver Colorado Avalanch Hockey Team" – Song: 'Scalped' "Long Beach California Ice Dogs Hockey Team" – Song – 'Miserlou' (many more to be updated, 'I'm taking a break') ———————————————————————————————- MUSIC FOR NATIONAL TELEVISION SHOWS 2001 – THE WEBER SHOW – Song: 'Miserlou' 2001 – FRIENDS – Song: 'Miserlou' 2001 – PULP FICTION – Song: 'Miserlou' 2000 – STAR TREK VOYAGER – Song: 'Lets go Trippen' 2000 – SUPER BOWL – Song: 'Miserlou' ———————————————————— Dick Dale's Appearance TV Credits: "Rosie O' Donnell Show" "David Letterman Show" "Conan O'Brian Show" "MTV" "PBS Special" "Beverly Hills 90210" "E" "CNN" "VH1" "Beavis & Butthead" MTV "Jools Holland'' BBC England with Eric Clapton, Dr. John, "Ed Sullivan Show" "Some guitar players play great, but Dick Dale is a great player." "Some people are talented guitarists, but Dick Dale is a guitar talent." "Some people play to sound great, but Dick Dale plays a great sound."

at Coach House
33157 Camino Capistrano
San Juan Capistrano, United States

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Real Estate Leads Back To

Real Estate Leads 101: Back to the Basics Pt. 1

Article by Ashley Lichty

Real Estate Leads 101: Back to the Basics Pt. 1 – Real Estate

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Sometimes even the best real estate agents and brokers need a reminder of the basics when turning real estate leads into clients. Though the basics seem like simple skills on the surface, they are the building blocks of a strong business.

Rory Wilfong, co-founder of GetMyHomesValue and real estate trainer often comes across agents who lack these simple building blocks. “I am often surprised how many agents don’t have an effective plan for acquiring real estate leads, following up with their real estate leads and then nurturing their real estate leads to become future clients. Too many agents are simply stumbling over real estate leads and crossing their fingers in hopes that the lead will pick them for representation with their future real estate transactions.”

With the dramatic increase of licensed real estate agents in the past few years, it is more important that ever that real estate agents are memorable to their real estate leads. According to the National Association of Realtors, their membership increased from 766,560 in 2000 to 1,265,367 last year. And that is just Realtors. You do not have to register with NAR in order to be a real estate agent, only to get the designation of Realtor. These numbers are enough to prove that if and agent wants to get anywhere with their real estate leads, they better stand out in the crowd. The best way to do this? Effective and creative follow-up! It goes back to learning applying the relatively simple skills involved in sales, marketing and customer service and adding your own creative flair to get your real estate leads to notice you.

Let’s get back to the basics and thing about what really defines the term ‘real estate leads.’ According to Wilfong, the definition of a lead is a consumer that is interested in possibly using your services either now or in the future. It’s as simple as that. There are different types of real estate leads of course, buyers, sellers, for sale by owners, refinancing, etc. Real estate leads can come from various sources, direct mailing, contact through your website, from an open house.

Another way to think of your real estate leads are as clients. Start your follow up with the mindset that the lead WILL be your client. Real estate leads are clients until they become contractually obligated to another agent or sales person providing the same service as you are.

Many agents rate their real estate leads as cold, warm or hot, depending how far into the real estate process they are. It is important to keep in mind that at one point, even a hot lead was kind of cold, even if you didn’t know about it! Cold real estate leads lead to hot real estate leads. Of course, many agents cast off hundreds of real estate leads a year because they consider them “bogus.” As Wilfong states, “Like many agents, in the past I encountered my fair share of Mickey Mouse leads and I often use this as an example of agents. What would you do if you received a lead from Mickey Mouse?”

In Wilfong’s experience, many agents say they cast many real estate leads with odd names off as ‘bogus.’. He believes that driving to a home to present your information to Micky Mouse himself is a GREAT way to break the ice with the people actually living in the house. The lead will remember your humor, more than likely tell his friends about the incident, which of course leads to more real estate leads for an agent! Even a call to Mickey Mouse, if handled humorously, can get a positive response and build instant rapport.

If nothing else, real estate leads will almost always give a current address along with the fake name they may leave, simply because that is the property they need information on. You can’t be afraid to do a little detective work and dig a little deeper if you want to be constantly converting your real estate leads into contracted clients.

About the Author

Ashley Lichty is a webmaster and the resident SEO of Web Xtreme, Inc. She has a background in real estate and marketing with an emphasis in writing.

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Ashley Lichty is a webmaster and the resident SEO of Web Xtreme, Inc. She has a background in real estate and marketing with an emphasis in writing.

Use and distribution of this article is subject to our Publisher Guidelines
whereby the original author’s information and copyright must be included.

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Us Commercial Mortgage Basics

US Commercial Mortgage Basics

Article by Commercial Lifeline

US Commercial Mortgage Basics – Finance

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Commercial mortgage loans are used when purchasing structures such as office buildings, apartment complexes, health care facilities and retail outlets. Whether its a hi-rise tower or a family-owned restaurant, buyers typically need additional funding to complete the transaction. Commercial mortgages are what they pursue.Similar in many ways to residential loans, commercial mortgages require far more paperwork. Both types of loan require that the properties being purchased undergo a thorough appraisal. Both require collateral to secure the loan and protect the lender against default. Like residential mortgages, commercial mortgages can be refinanced to take advantage of more favorable terms, or they can be re-mortgaged to establish a line of credit to use for running the business. And like residential mortgages, the lender will hold the deed to the property until such time that the loan is repaid in full. During that time, the lender makes money off the interest on the loan. If the borrower fails to make payments on the commercial loan, the lender has the right to initiate foreclosure proceedings and take the property. Remember, the property likely is what will be used as collateral. The interest paid on the commercial mortgage usually is tax deductible; just be sure to consult with a professional first.When you apply for a commercial mortgage, you will typically be offered two different types of loans: fixed rate loans and variable rate loans. These work the same as they do for residential mortgages. On a fixed rate commercial mortgage, the interest rate that is negotiated and agreed to remains in effect until the loan is fully amortized. If youre obtaining a commercial mortgage and interest rates are heading higher, a fixed rate likely is a better option. You can always refinance your mortgage should interest rates go lower than your fixed rate.With a variable rate commercial mortgage, the interest rate will fluctuate during the payback period. Interest rates are determined by the US Federal government. Make sure you understand how variable rates are determined. Also, find out from the lender how often the rate on a variable rate mortgage will change. Its fine as long as the interest rate is decreasing; its the increases that you need to worry about. Make sure, too, that should the interest rates increase, you can still afford the monthly payments. With some variable rate loans, the rate is fixed for the first few years, and then converts to a variable rate loan.When applying for a commercial mortgage, also ask about the Early Redemption Charge (ERC). Remember, lenders make money off the interest on the loan. When the loan is repaid in full sooner than anticipated, the lender loses money. To avoid losing money, lenders often include an ERC which can amount to a substantial, one-time sum. If you discover an ERC in the fine print, try to negotiate it away. If youre not successful, take your business elsewhere. Applying for a commercial mortgage means that youre about to make a serious investment. Be sure you know exactly what youre signing before you sign the documents. You have a right to ask questions, renegotiate more favorable terms and do whatever else you feel is necessary. Its your money and your future. Good luck!

About the Author

Commercial Lifeline are http://www.commercial-lifeline.co.uk“>Commercial Mortgage and Bridging Finance specialists.Download our free Commercial Mortgage guides by visiting our Commercial Mortgage Guide page.This article comes with reprint rights. Feel free to reprint and distribute as you like. All that we ask is that you do not make any changes, that this resource text is include, and that the link above is intact.

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