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If Real Estate Investment Is So Great, Why Doesn't Everyone Do It?
Oh, that's an easy one. I can answer that in one word. FEAR.
Real estate investment is a great way to change just about everything in your life, but it's one of those things where doing it for the FIRST time is the toughest. In fact, the second...
Real Estate Marketing – Beef Up Your Follow-Up
If you're a real estate agent, client follow-up should be a major part of your real estate marketing program. Whether it's a postcard mailing program through a direct mail vendor, or just a series of well-timed thank you cards after the transaction,...
Rear Estate It Takes Two To Tango
Two people, so a saying goes, can look at one thing and see two different things.
In the world of real estate, there are only two people involved in the process, the buyer and the seller. Whoever gets the most benefits, nobody can tell. But...
Tennessee Real Estate – Music To The Ears
Tennessee is the state of prairies, towering mountains and country music. Inexpensive Tennessee real estate will also put a jump in your step.
Tennessee
Tennessee is a state with a little bit of everything. Parts of the states are comprised of...
To Picket Fences
The "fence height" controversy has traveled to the California communities of Burbank, Los Angeles, Santa Monica, Richmond and Glendale where angry homeowners have flocked to city council meetings—often breaking attendance records--to...
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The Need For Affordable Housing
During the last 3 years, we have experienced a tremendous appreciation in the priced of homes in Palm Beach County, with a 30% increase in the last 12 months. This has created a situation where the average wage earner is not able to afford a home.
The average price for a condo is $155,000, townhouse $185,000 and single family home is $327,000. While these are still affordable to many, there are added costs. For condo's and town homes, the monthly maintenance is on an average $200 a month. For a single family home, the association fees average $150 a month.
The next factor is the tax rate. The rate is approximately 2% of the purchase price. Furthermore, insurance is also an additional factor.
If a buyer purchased a $200,000 town home, he would incur the following monthly expenses. The mortgage would be $1200 a month at a 6% rate, maintenance of $175 and taxes of $330. This results in a total monthly payment of $1705, which is beyond the means of the average consumer.
The major problem the consumer faces, when trying to locate affordable housing is that the cost of a
home is a higher percentage of their take home pay then many can afford. From my personal experience, I have had many clients searching for months for homes to no avail.
The county has recently developed a plan to build affordable housing in a section of Boynton Beach Florida for people who make under $38,000 a year. This is hopefully the start of trend to provide affordable housing for a large portion of the population, who has been unable to find a place to call home.
About the Author: Larry Lang e-PRO REALTOR® (561) 385-0518 llang6@bellsouth.net www.palm-beach-real-estate-homes.com www.lakeworthproperties.net www.palm-beach-florida-real-estate.org Before switching careers in April of this year, I had spent 28 years in reatil sales and management.
Source: www.isnare.com
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