A smooth transaction is one when one has accurately represented the physical characteristics(in writing) of one’s home , whether it be listing the home with an agent or selling it yourself(FSBO). “The main step is to acquire the accurate living area during the whole process of obtaining the accurate representation of one’s property”, says William D. Cobb, CREA who is the owner of Accurate Valuations Home Appraisal Group in Baton Rouge, Louisiana. An agent will enlist a CMA or Comparative Market Analysis for determining a home’s listing price. Still, one should have with them, a precise calculation of the living area.

Also, to be on the safer side, it would be a wise decision to have a third-party measure the living area and value of the property before one signs the Listing Agreement. A residential appraiser is the best option in this case.

This has the following advantages:

· When an appraisal report is done in a professional manner, it leaves a good impression on the potential buyer as it supports the price quoted as well.

· An appraisal generally includes photographs, location map, accurate sketch, precise dimensions, outline of the neighborhood etc. Also, 3 to 4 comparable sales must be present adjusted to subject property.

· Enlisting recommendations for repair or enhancements, if any. This listing appraisal can indicate a value for addition(s), items that require repairs, etc..

· Accurate estimation of Living-Area size lends peace of mind, especially with values @ $100/sf +

In U.S, majority of real estate professionals base the price per square foot of a home on living area size. Living Area is measured from the exterior walls. All real estate professionals are to follow the ANSI Standards for Single-Family Residential Buildings (American National Standards Institute) when calculating area home sizes. In a seminar in Apex Appraiser Home Sketching Software and National ANSI Standards in Houston, TX, the ANSI instructor, who is also on the Appraiser Standards Board in South Carolina, stated that one of the most common lawsuits in Real Estate today is “misrepresentation of living area size”.

Consider: A 2,000sf home is for sale, priced at $240,000. Instead of measuring the home, the living area was obtained by County Records; estimating the typical home size in that development. The home is listed with a living area of 2,000sf. A purchase agreement for $240,000 is received and is accepted. The appraisal is ordered by the buyer’s lender. The sellers submit an offer on a $350,000 home in a neighboring development. The offer is accepted. However, the appraiser for the home turns in her appraisal showing 1,840sf and an appraised value of $220,800, much less than the purchase price. The sellers are asked to renegotiate the purchase price as the living area is 1,840sf, and not the 2,000sf. The sellers sue for misrepresentation of living area.

Thus, it’s crucial to have one’s home measured by the person listing your home. It is strongly recommended that when interviewing the person listing your home, one must confirm that they follow ANSI, that they will measure your home, and provide you a calculated sketch. Thus, a written verification of true living area is present.

· Bill states that he recently performed a purchase appraisal in a South Baton Rouge Subdivision on a 2,026sf living area, for $260,000, listed FSBO. The home was marketed WITHOUT obtaining a professional opinion on the value of the home. The buyers end up with $9,000 in equity as the home appraised at $269k. So, as against a loss of $9,000 the seller should have paid $225 to get the listing appraisal done.

An appraisal helps homeowners make the best decisions like investment in homes and setting a competent sales price. Thus it is strongly recommended to have a Listing Appraisal before one lists their home.

?In today’s market it is very important good realtor to represent you.N a marketplace overflowing with opportunity, Tax benefits and variable values, proven experience, integrity, market awareness and outstanding communication skills are essential. No one can ignore qualities like that.. Home Purchases and sales are too important to place in the charge of inexperienced, unverified realtors.

Whether dealing with a commercial or residential Real estate transaction, the client should verify that the realtor is a associate in good standing with the National Association of Realtors (NAR). This membership assures the client of the realtor’s responsibility to educational programs and compliance with principles of ethical conduct and cooperation. The National Association of Realtors has been instrumental in increasing and implementing important ethical principles of conduct throughout the industry.

In addition to enrollment with the NAR, the realtor that can best locate and list for sale either residential or commercial Real estate will be a An associate of a Multiple Listing Service (MLS). The MLS is a regional marketplace that is designed to assure clients of highest exposure to existing Real estate and the cooperation of many other real estate Agencies. Whether buying or selling, clients must persist that the realtor be a member of the Realtor board.

It is essential to recognize that the term realtor refers to the agency itself. Realtors, or real estate brokers, keep agents that list, sell and lease real estate, on behalf of the realtor. However, the realtor is liable for the activity and conduct of its agents, the Firm’s marketing campaign and the interaction with other cooperating Firms. Selecting a proven and trustworthy realtor can maximize the sale of a real estate property and assure the buyer of making an informed choice.

Real estate marketing has changed dramatically in the past few years. The industry has been impacted by the advent of enhanced MLS services that have made properties obtainable for review on the internet. A recent survey showed that almost 70% of residential Real estate investors began their search Online. In today’s Market, the greatest realtors have fine-tuned internet strategies, marketing plans and communication programs that keep their agents, their listings and their clients abreast of activity as it occurs.

Programs such as virtual tours and digital photography can do much to enhance the visibility of listings and can be Changed with the availability of aerial photographs, tax documents and copies of deeds and disclosure statements. Good realtors are capitalizing on the public’s Needs for internet access by creating web logs for listings, agents and related projects.

As eminent as the internet is to overall real estate marketing, it is imperative to choose a realtor with outstanding communication capabilities. There is no reason for a realtor to ignore a call or be oblivious of market activity as it happens. The finest Real estate agents understand the importance of being on top of the market at all times and are always accessible to their Buyers and sellers. With the cellphones systems, Clients will benefit from a relationship with a Real estate agent who is always at the Prepered.

Traditional real estate marketing activities, like signs, brochures, flyers, business cards and even Open Houses still have value in the marketplace. Skilled realtors incorporate these principles with Buidling websites and advertising online to increase exposure and facilitate the purchase and sale process.

Realtors need to know the current mortgage market as well.. Many of the finest Real estate agents have direct lines of access to Mortgage companies and programs. In today’s marketplace, clients should examine the realtor’s understanding and contacts to the financing arm of the industry. A realtor’s ability to connect Home purchasers and home sellers to suitable financing can have a big influence on a property’s marketability and can help bring transactions together easily.

One of the more unusual but sometimes profitable real estate investments is buying parking spaces. In every large city, including Chicago, there is always a need for parking and demand outpaces supply. Even with public transportation readily available in large cities, the high gas prices and the growing trend of green living and conservation, Americans still love their automobiles. Parking spaces are always going to be needed, and there are investors who are banking on it.

In Chicago, Mayor Daley is proposing lowering the number of unpaid parking tickets from three to two before you get booted. Right now it costs $60 to get a booted car back, along with paying all tickets owed. A booted car will be towed after 24 hours, so you could have an additional towing fee of about $150 plus storage costs. It could add up to several hundred dollars in a few days. Records show that there were almost 59,000 autos booted in Chicago last year (2007), so there obviously is a need for parking that isn’t being met.

So how much does a deeded parking space cost? It depends on where you are located. In New York, it’s possible to pay more than $175,000 for a prime parking spot. In Chicago, deeded parking spaces run anywhere from $20,000 to $65,000 or more in some of the trendy new construction high-rises or downtown locations. High profile developments like the Chicago Spire listed here http://www.bestchicagocondos.com/pre-construction-condos/chicago-spire.html usually allow for parking for all of its future residents for a fee in addition to the condo price. Some buyers will opt for a second space if one is available and others may decide not to purchase one at all. In many smaller Chicago real estate developments, no parking is offered with the condos.

According to Parkingsearch, the value of parking spaces has increased by quite a bit over the past few years. Their research finds that in Chicago the average parking space sold for $28,000. By 2006 that increased to $30,000 and last year in 2007 it was about $33,000. With a fixed rate loan of 6 percent there is definitely a profit to be made. It may be a bit if a challenge to find a bank to loan you the money, but it is certainly doable. You monthly payment should be in the range of $200 and the going rate for renting a parking space in prime spots can be as much as $300 to $500.

You need to keep in mind that you’ll have a few fees associated with owning a parking space. It isn’t all profit. While you won’t have much upkeep on the spot, you will probably have to pay a maintenance fee to the building or condo association. A deed must be obtained, liability insurance is a good idea and yearly taxes must be paid.

When looking for a good parking space investment, factors such as the garage being heated, secure entrances and what level or floor the spot is located on if it is a multi-level garage all come into play. Also whether or not there is an elevator can increase the value. You should also do your research and see how well the units in the building have sold. Buying a parking space in a building that is only half sold or rented won’t be a good investment.

Some real estate agents may be able to help you find available parking spaces and many developers are turning to auction houses to liquidate condo inventory, including parking spaces at a deep discount. Around 27 spaces at Millennium Center were auctioned off this past spring, and 10 of those were sold absolute. The suggested opening bid for those spaces was $10,000 to $12,000 and they had been priced at $49,000 to $65,000 each.

Parking spaces as investments may have never occurred to you, but the next time you get a parking ticket or find your car booted, it may sound like a fantastic idea.