There’s no doubt that we are in some tough economic times right now. Many people have lost a bundle when the stock market took a dive. Unfortunately a lot of people are being too conservative and sitting on their money right now for fear of losing more of it. The basic strategies for choosing any investment are to buy the investment at the lowest possible price and sell it at the highest possible price. It’s sometimes difficult to do that and it’s tough to know when the best time to buy is.
Smart investors will take advantage of these tough economic times and realize that land prices are undervalued right now. Those who are smart enough to buy land while the prices are so low will stand to make some tremendous profits. Smart investors are able to buy land for pennies on the dollar.
There are two strategies that come to mind when buying land. The first is to buy land that is undervalued and immediately put it on the market to try to make a quick buck. The second is to buy land that is undervalued, hold on to it for the long run, and sell it when prices are at their all time highs. The strategy that you choose will depend on your current financial needs. If you are in need of developing quick cash flow the first option may be the best for you. If you are looking for long-term investments, you obviously should choose the second option.
Many people know friends or family members who were smart enough to buy land when it was really cheap. It’s not uncommon to hear people say things like “I wish I would have bought land when it was so inexpensive.” The smart investors realize that we are in one of those times right now. Don’t be left out in the dark and miss out on this opportunity to buy land that is cheaper than you may be able to find it any other point in your lifetime.
Several years ago, homes would sell quickly no matter where they were located, what condition they were in, or what was wrong with them. In fact, I would argue that price didn’t even matter! All that has changed. In this real estate market, you need to do everything you can to impress those picky home buyers. Here are some ideas that can help your home stand out from the competition:
- A recent statistic said that over 85% of home buyers will spend time looking at homes on the internet before they ever call a real estate agent. Despite that statistic, I am amazed every time I see blurry, dark or bad pictures of homes on the internet. Even more frustrating is the real estate agent that only posts a single exterior shot of the home. This may be the only contact you ever have with a web surfing home buyer. Why not spend the extra money and have your home professional photographed?
- If you have any old appliances in the kitchen or laundry, replace them now. Even inexpensive new models will look better than that 1970s harvest gold unit. It may seem like a small item, but home buyers do notice these things, especially when they are looking at Maple Grove homes for sale.
- When I tour houses with clients, I am amazed to see a nice kitchen, clean bathrooms, but then 20 year old carpet in the master bedroom. The buyers are turned off instantly. Even if you get the carpet at a discount and buy almost the cheapest made, replace it with a decent color that will take that objection off the table.
- Have a professional cleaning company come in and clean your home prior to putting it on the market. Not only will you enjoy not having to spend 8 hours yourself, but they are going to clean in places that simply ignore since you see it every day. There are cleaning companies that specialize in prepping homes for sale.
- It has been demonstrated that homes that are professional staged will sell quicker than ones that are not. The home stagers may get paid $500-$1000 to do their work, but if you can sell your home 1/2 as fast, that money is well spent. Even if you think you have a beautiful home and it does not need any work, trust these professionals to give you good advice. There are several different stagers that specialize in Maple Grove houses.
Selling your home quicker will help you get the most money possible for it and don’t we all want that!
A number of smart property developers and investors have discovered a good place for potential profit in Nicaragua. The country boasts world class surf, white sand beaches to rival any in Central America, dramatic headlands and secret coves. Nicaragua benefits from a rich biodiversity and a warm welcoming culture. The hospitality industry is developing fast and Nicaragua is evolving into an extremely desirable vacation destination. And one thing savvy real estate investors are aware of is that wherever tourists go, real estate interest tends to follow. Its exciting times for real estate in Nicaragua with buyers sitting firmly in the driving seat. Top picks are beach and ocean view residences in San Juan del Sur, colonial homes in Granada and property around the stunning blue waters of Laguna de Apoyo.
As the only English language speaking country in Central America, Belize is a place where you can settle in quickly with little culture shock. It has a status as a top diving spot and the classic Caribbean landscapes with miles of palm fringed beaches make Belize well worth evaluating as a property spot. Real estate prices are lower than more mature parts of the Caribbean but you’ll still find a full range of services and amenities on offer in places like Ambergris Caye and Placencia Peninsula. The legal system in Belize is based on British law, it is a member of the commonwealth and has a currently pegged to the dollar. Three points that add to the sense of stability and security that investors here appreciate.
Close to the equator, the Central American country of Costa Rica, sandwiched between Nicaragua and Panama, has been an incredible area for property investment for the last decade. The country combines a vibrant tourism industry with a strong ‘eco’ culture that fits well with its tourism slogan: “No artificial ingredients”. In the 2009 New Economics Foundation Happy Planet index Costa Rica boasted the highest life satisfaction of anywhere in the world. If you’re a surfer head to Playa Hermosa and Jaco Beach for world class waves. You’ll notice a vibrant property market in these areas following in the footsteps of places like Playa Tamarindo Costa Rica and Playa Flamingo further north.
Panama has exploded onto the real estate scene as a top spot for secure investments and the promise of capital appreciation. Its progressive retirement program offers a whole host of benefits and is successfully attracting ever increasing numbers of retirees to its shores. Many are heading to areas such as Boquete in the western highlands, Bocas del Toro on the Caribbean and of course Panama City the pulsating capital city. The entire nation is half the size of the state of Florida but the property ownership options seem endless, bolstered by a growing economy, well respected government and investment friendly policies.
