1. Remodel an existing room. Renovating an old bathroom or completely upgrading your current kitchen can typically yield huge results.

2. Add a room. Adding a bedroom is perhaps the fastest way to get a return on investment.

3. Finish a basement. Adding a bathroom and making the basement a livable area can mean big bucks. You may also consider turning the basement into a rentable space for extra revenue each month.

4. Add upgrades. Have you been considering new flooring or upgraded appliances? Doing so can mean more money when its time to sell.

5. Go outdoors. From some simple landscaping to installing a new pool, you will find that there are many ways to upgrade your outdoors space and attract potential buyers.

Keep in mind that before renovating in terms of an investment, consult a real estate agent who can tell you if you can expect to see a positive or negative return rate on your project. Many factors, such as the neighborhood and other comparable homes can impact the price of your home and the rate or return on improvements.

For home buying:

Buying based on how the home is decorated. Home stagers make a great living attempting to make a property look appealing. Try not to envision the decoration as a factor in your home buying decision.

Not researching the surroundings and neighborhood before making an offer. Knowing the ins and outs of your potential neighborhood is essential. Ask questions about upcoming developments.

Not considering resale value. Your home is an investment. You should consider how it will sell once you decide to move.

For sellers:

Not allowing access to your property. Instead, make it easy for potential buyers to stop in a view your home.

Doing major remodeling or renovation projects prior to selling. Small upgrades are fine but attempting to tackle large projects is typically a huge waste of valuable time and money.

Setting an asking price that is too high. Instead, try to lure potential buyers with an attractive price.

Unfortunately, rehabbing isn’t taught in schools. Neither can you learn about it from your next-door neighbor or your mother-in-law. To get you started in the right direction, here are some practical rehabbing tips to consider:

Keep your eyes open. Carefully inspect the property you’re rehabbing. This is essential so you’ll know the kind of repairs that need to be done. When inspecting the property, pay close attention to three things: the plumbing, lighting and heating. You’ll normally get a good idea of how good the plumbing is by going to the kitchen and bathroom. Are the faucets in place and working? Are there uneven spots on the floor, under the sink or in the shower that could indicate leaks?

Check the walls for cracks and moisture. If you find any, that’s not a good sign. Step outside and see if there are any trees that are growing under the house. That could spell trouble for the property’s plumbing system later.

Next check the lighting. Does the property have enough electrical outlets? Are these in good order? Does the house have a circuit breaker? How long has it been since the electrical system was updated? If you’re not sure about these things, get help from a professional plumber or electrician. These people know the ins and outs of a house and can help you make a wise decision regarding the property you’re rehabbing. What’s more, if you decide to buy the house, they can quickly do the repairs for you since they’re already familiar with the problems.

But if you find major problems in the three areas I mentioned above, walk away from the property. There’s no point in investing on that property if you will only lose money in the end. To make a reasonable profit from rehabbing, stick to cosmetic repairs only. Avoid costly repairs that will cost you a lot of money and time.

Obviously, to fix and flip homes, you should first asses the property you intend to sell. It may sound ridiculous but have you actually visited the place? Take a look at the surroundings and inspect the property to get a clear picture of what needs to be done. By doing so, you can estimate how much you will spend on repairs and determine how much profit you can make when you fix and flip the house.

Know your numbers. By this, I mean be realistic about the cost of repairs and what you will earn from selling the property. Take into consideration all kinds of costs  closing fees, loan fees, homeowners insurance and the like. If these eat up too much of your budget and leave you with a small profit margin, its best not to fix and flip the house but to look for other properties that you can improve and make some cash later.

For instance, why bother to fix and flip a house that will give you a measly $7,000 profit? But if a thousand dollars worth of repairs can make the property more attractive and increase the selling price by $8,000, by all means go for it. Your goal is to get more income with a little investment. Think high-return improvements and you cant go wrong. Never undersell or short change yourself if you want to make it big in real estate. The easiest way to do this is to avoid houses with small profits.

Some real estate gurus will probably tell you that you can fix and flip any house. In my experience, this isnt always true.  For example, why bother with that strange house thats nestled in a cave? Or waste time to fix and flip a house that looks like the hiding place of Robin Hood? Sure, you can probably sell it later if the right buyer comes along. But what if he doesnt? More importantly, how much would you sell the property and what would be the basis for your asking price?

Risking money on unique houses can be agonizing for the investor. It can lead to unpredictable expenses, create a long waiting time before the right buyer comes along and eventually leave you with a poor investment. In general, avoid these houses like the plague. There are plenty of properties to fix and flip and you cant go wrong with these places. For more business tips and tricks, be sure to visit Blair Stover.

How exactly does it work? First you have to locate a home and get an offer accepted. This is easier said than done so you have to act now.  Remember that a single property can have multiple offers so you could easily lose in the bidding war. Plan ahead to increase your odds of winning. 

If your offer is accepted, you have to get a mortgage. This can take as long s 30 – 45 days. Lastly, you must close on the home for it to be considered occupied and make you qualified for the credit. For first-time buyers, this is equivalent to 10 percent of the cost of the home or as much as $8,000. 

In long-term homeowners, the credit is 10 percent of the purchase price or a maximum of $6,500. It can go as low as $3,250 for a married individual filing separately. So dont think that $8,000 is a guaranteed amount. Eligible properties include any single-family home (including condos, co-ops and townhouses) that will serve as the taxpayer’s main residence.

The good news is that those with big incomes can qualify for the credit. The income limits for homes bought after November 6, 2009 were recently raised. Neither does the credit have to be repaid provided the buyer remains in the home for at least three years. If the home is sold before that period, the buyer must pay back the total amount of the credit, including the refund.

So how does a seller get a buyer’s attention, arouse their interest, increase their desire, and compel them to take action ultimately in closing the deal? If you can answer those questions, you’ve cracked the secret of marketing success. But things can be complicated and the potential answers are as numerous as people on this planet. Here are some tips for your consideration:

Get the trust of the customer.  A customer’s indecisiveness, skepticism, indifference, or confusion is bad for sales. That’s why you should project an image of experience, dependability and excellence to your potential customers to win their confidence and overcome sales objections. Be sure to communicate clearly with them the advantages in doing business with you or the sale may go to a competitor.

If your home is highly valued and you don’t mind moving to a more affordable place, downsizing may be your best strategy to gain extra retirement. The cash raised from the sale of your home may give you more capital and money to live on and thus avoid touching your retirement accounts should you decide to retire early. This gives your money more time to grow untouched and provides more flexibility in sheltering your assets.

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Home ownership offers many benefits such as property tax deductions and real estate appreciation. While the real estate market moves in cycles, in general, it appreciates over the years. Currently, with prices being low and starting to rise slightly, it is a perfect time for first time home buyers to get into their first place. Also, interest rates are relatively low and the government is offering incentives for first time home buyers.

According to the law, a first time home buyer is any buyer who has not owned a principal home at anytime during the last three years. Married couples must both be first-time home buyers to qualify for the tax credit. Visit irs.gov for further details about qualifying for the home buyer tax credit.

In order to qualify, the home must be purchased between January 1, 2009 and April 30, 2010. In order to get the full $8,000, the home must have a purchase price of at least $80,000. Additionally, buyers must have a modified gross annual income of less than $75,000. For home buyers making more than that each year, the tax credit is gradually reduced.

Not only does home ownership offer a sense of pride, it is a good investment for your long term financial future. If you are thinking about purchasing your first place, now is a great time to act. Purchase before the April 31 deadline and receive all of the incentives possible.

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Step 1 – Study well to get your state license. A good education is the first step in realizing your dream of becoming a Realtor. If all you need is your license, an online class will suffice. But if you prefer the traditional method, choose a real estate school in your local area. You can also study at certain real estate offices that have their own schools.

Step 2 – Continue educating yourself. Your education doesn’t end when you graduate. Continuing the educational process will help you maintain your license and keep you up to date with the latest industry trends. If you are knowledgeable enough, think of the best marketing plan to get referrals and establish a solid customer base.

Step 3 – Look for a sponsor. Since real estate transactions cost thousands of dollars, Realtors must have a good moral character to attract more customers. They should be trustworthy, loyal, honest, and compassionate. That’s the reason why many states require real estate agents to work under successful real estate brokers. These brokers become their sponsors and can attest to the integrity of real estate agents.

Step 4 – Get a dedicated business line. Don’t use your mobile phone as your business line since this will prove annoying in the long run. If you become successful later, do you think you’ll have time to answer hundreds of phone calls a day? Since you’re just starting and you don’t want to pay for a separate line, use a phone service that will direct your calls to whatever number you choose. One good alternative is Google Voice which is free. It will transcribe your voice mails and e-mail or text these to you. That will save you a lot of time and money.

Step 5 – Become popular in your community through networking. You can accomplish this by joining service clubs and other community organizations. Maintain a regular profile in the local real estate journal so people will know you. Don’t underestimate the power of the Internet to make you popular. Have a good Web site that people will easily find.

Step 6 – Learn how to manage your time. Be on time for all meetings and stick to deadlines. Failure to do so could cost you a sale and a client.

Step 7 – Be flexible. Learn to adjust your time to satisfy your clients. Keep in mind that they may be working full-time which limits the time they have to view properties.

Step 8 – Be patient. Don’t rush your clients or appear distracted when seeing them in person. Your clients are spending lots of money to buy a property and they need your compassion and patience to make the right decision.

Step 9 – Finally, always remind yourself that failure is not an option. If you’re not fully committed to being the best Realtor that you can be, you’re wasting time and your clients will feel it.

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“Flippers” or the people who flip houses must have a keen eye on a good investment when buying property. The best homes to flip are those that dont appeal to potential buyers due to cosmetic problems like bad carpeting, old paint, and poorly kept yards. These problems can easily be repaired to maximize the value of the house without resorting to major expenses. Profits from house flipping can reach anywhere from $30,000 to $100,000 or even more.

Homes that require new wiring, plumbing, and structural repairs, are generally regarded as a bad investment since they can easily eat up most of the flipper’s expected profit. Experienced flippers can correctly estimate the profit versus expenses required of a home before deciding to flip it.

Among other things, the neighborhood should also be considered when picking the right house to flip. Ask yourself: do people really want to live in this neighborhood? Would you honestly live here? This will help you decide whether flipping can increase the value of a house you intend to flip.

Profits gained from house flipping differ greatly since this depends not only on the neighborhood and purchase price of the home but the expenses you could incur in fixing it. Experienced flippers should stay close to their budget for repairs and time restraints. The longer the house sits without being sold, the less profit the flipper makes if a monthly house payment has to be made.

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The Federal Reserve reported that commercial real estate investment activity weakened further since its last report in March, 2009. Compounding the problem are stringent requirements for commercial real estate loans as a result of worries of worsening loan quality in the sector.

Recently, General Growth Properties, the second largest operator of shopping malls in America, filed for Chapter 11 protection, making it the biggest retail casualty of the recession. Early casualties include Circuit City, Linens ‘N Things and Steve & Barry’s that have all filed for bankruptcy.

Experts believe that many other companies could be affected by this development. Reports say that one of General Growth Properties’ largest unsecured creditors is Bank of New York Mellon although it is listed as a trustee for other creditors.

Analysts expect a curtailed supply of new construction, more focus on cash flow, new incentives for tenants, greater equity required of borrowers and increased government regulation. They predict that many office, retail and condo projects will go back to lenders this year since cash flows have declined and debt that is due cannot be refinanced as long as credit is scarce. So what’s on the horizon? No one can be sure for now. As the saying goes, let’s hope for the best and pray that things don’t get worse.

For more business updates and industry news, check out http://www.blairstover.com/.