New Year Goals

Happy New Year! Have you set your goals for the year 2006 yet? If not, today is a great day to find a quiet corner and contemplate the things you'd like to accomplish in the coming year... and how you're going to achieve those things.

Goal setting is one of my favorite subjects because I believe in the philosophy:
"Whatever the mind can conceive and believe, it can achieve".

Until goals are written and specific, they are merely wishes. Here is a link to an article outlining 7 steps to goal setting. At the bottom of this article is a big link to another interesting goal setting site... with tips, articles, and a newsletter. If you were to follow the formula and do a complete goal setting session for all 6 areas of your life, it is a comprehensive, time consuming and envigorating process. It is time well spent and well worth the effort.

For now, start with one... and move forward from there. If you were to stay within the spirit of this blog, a financial goal pertaining to starting or expanding a real estate portfolio would be appropriate.

Do you have dreams you'd like to turn into reality? I am a trained goal setting instructor, so if you would like some guidance let me know.

Yours for success, prosperity and happiness in '06
Carol

http://www.blogger.com/
http://www.toppropertieswenatchee.com/

Merry Christmas!

I'll be back after the first of the new year with more
real estate investment information. In the meantime...
H a p p y H o l i d a y s !

Unfair Tax Burden?

I posted this on my residential blog, but it's important for all who invest in real estate... so here is a link to the Washington Association of Realtors Government Affairs news page. There are some important issues, one most specifically about the proposed (significant) increase in excise tax imposed on the sale of homes (and investments properties) from every single real estate transaction. I encourage you to read the article and write your legislator with your comments. Here's a link to find your legislator.

Changing Your Destiny

"Nobody can go back and start a new beginning, but anyone can start today and make a new ending." - Maria Robinson

I love this quote. It's appropriate whether you're interested in improving the outcome of your financial goals, or improving relationships with your family.

4-Plex in Cashmere

I've listed a nice 4-plex building in Cashmere. Each spacious unit has 2 bedrooms and 1 bath, located very convenient to downtown Cashmere.

Total monthly income averages about $2,530(including laundry income). We have given notice for the rents to be raised, bringing the monthly income to $2,630 per month. They are always very easy to rent when a vacancy occurs.

List price is: $399,000


Contact Carol for details:
Carol@TopPropertiesWenatchee.com

Investor Errors

Here's a link to an interesting article about mistakes that newbie investors tend to make. If you're interested in getting into the real estate investment business, I recommend you start by working with an agent familiar with investment properties. Once you become more experienced, you can consider going it alone... but even most of the experienced investors utilize the services of an agent they know and trust.

Have You Hugged a Veteran Today?

I humbly take this opportunity to salute all veterans... and to all the current active military soldiers.

A special tribute to my Dad, Bruce Klock (1913-1964), who served in World War II.

God Bless America

Latest Wenatchee Area Foreclosure List

I have posted the latest Wenatchee area real estate foreclosure list on my residential blog. I can also generate a foreclosure list for any area in the country. Please contact me for the latest status on any foreclosure property.


Have a great week-end,
Carol Williams

Carol@TopPropertiesWenatchee.com
Primary residential blog
Search listings in Wenatchee, Statewide, or Nationwide

Reasons to (or not to) Buy Real Estate?

Here is a link to an article that puts in perspective the most traditional reasons FOR buying real estate. Real estate IS a great investment, but do you research and be careful not to buy for the wrong reasons.
Carol

Search local Wenatchee, State, or Nationwide real estate listings here
Residential Blog

Gone To England

I'm now in England. If you wish to follow the adventure, please go to my personal blog. I'll also be posting some to my other real estate blog.

I'll be back to posting about Wenatchee real estate and investment ideas the week of November 7th.

Cheers from the olde country,
Carol

Thought For The Day

"Too often we enjoy the comfort of opinion, without the discomfort of thought." -J.F.K.

Activity vs Progress

Quote of the Day:
Do not mistake activity for progress.
You can keep busy in a rocking chair,
But you don't get anywhere.
- Earl Nightingale

Are Your Kids Money Savvy?

While reviewing current interest rates at Bankrate.com, I came across this article on teaching kids to be money savvy. It's definitely worth a read.

Here is an excerpt:
"Children between the ages of 5 and 14 have direct purchasing power of more than $40 billion a year and influence $146 billion worth of purchases. Yet, few children are taught, either in school or at home, about managing money.

With schools forced to make tough choices on which "noncore" subjects to include in curriculums, parents are often left to teach financial skills on their own. For parents, many of whom don't feel confident in their own money-management prowess, teaching their kids how to manage money can be an intimidating task.

But don't put off addressing the issue." To read the complete article, click here.

Financial responsibility is one of the most valuable lessons parents can teach their children. It's never too early (or too late) to start.

Yours for success & properity,
Carol

e-mail: mailto:CaCarol@TopPropertiesWenatchee.com
Primary website: www.TopPropertiesWenatchee.com
Residential blog: www.CarolsWenatchee.com

Empty Pockets?

Empty pockets never held anyone back.
Only empty heads and empty hearts can do that.
- Norman Peale

Norman Vincent Peale must have been talking to some real estate investors when he coined this quote. As the old saying goes: "Where there is a will, there is a way".

Have a great week-end,
Carol

Education vs Catastrophe

"Human history becomes more and more a
race between education and catastrophe."
- H. G. Wells (1866-1946)


The above quote struck me in view of current events
in the world. It's my belief that it's important to
look at the catastrophes as an opportunity to correct
some major problems and make the intelligent decision
to make things better, not try to recreate the lost for
the sake of nostalgia or fear of the unknown.

Have a great day!
Carol

Tax Consequences of Flipping Houses

There's a good article at Bankrate.com about the investment practice of flipping houses. With skyrocketing values of home across the nation, this has become an even more popular investment strategy.

A current client of mine recently bought a property and is wanting to flip it. I recommended she use it as a rental for a period of time, then sell it when it qualifies for a 1031 exchange. Under this strategy she could defer taxes. Surprisingly, her accountant told her not to worry about the tax implications because, if she was going to make a lot of profit, why would she care about paying part of it to taxes. I totally disagree with that thinking when there is a strategy to make the profit AND avoid the taxes.

Just so an investor considers all the possibilities and makes an informed decision, it's fine with me.

Yours for success & prosperity,
Carol

Thought For The Day

I have been through some terrible times in my life,
some of which actually happened." - Mark Twain

I love that quote from Mark Twain. We do tend to
exaggerate the crisis of the moments, don't we?
If you follow the "real" tragedies in the world, it's a
little easier to keep life in perspective.

Have a great week!
Carol

Quote of the Day

Work as though you would live forever,
and live as though you would die today.
-Og Mandino {1923-1996 American Motivational Author & Speaker}

It's difficult to find that perfect balance between planning for later in life and living for today, but it's absolutely essential for a well balanced life.

Og Mandino is absolutely one of my favorite inspirational speakers. If you have never read any of his books or listened to his tapes, I highly recommend them. My favorites are "The Greatest Salesman In The World" and "Mission Accomplished". I prefer the tape versions because you get the pleasure of listening to Og himself. I love his voice. It is peaceful, motivational and inspirational.

Yours for success,
Carol

Thought For The Day

Owning a home is a keystone of wealth...
both financial affluence and emotional security.
-Suze Orman

How To Fix The Mortgage Industry

The Wenatchee real estate market, although small, suffers some of the same issues as any real estate market. The crazy housing market everywhere has made the business of shopping for and securing the right mortgage a little crazy as well. It's downright confusing.

Although it's entitled "How To Fix The Mortgage Industry", I was reading an article in my Inman News feed recently which really explains, in simplified terms, a little about how the mortgage industry actually works. The author does offer some suggestions for improving the system, which really isn't a sytem at all... but is a mass of independent contractors (mortgage brokers) vying for all the business they can get. Even though the loans themselves are provided through Federal guidelines, the loan fees are unregulated... and, therefore, leaves a lot of room for unscrupulous fees on the part of the mortgage brokers. There are, of course, Truth In Lending disclosures and you should pay close attention to them because it tells you how much the total loan is actually costing you (including all the fees).

I almost always read the "final settlement statement" for my clients before closing to analyze all the fees being charged by the mortgage broker and the lender. These fees are often excessive and can be negotiated. Of course the better time to negotiate is upfront before choosing a loan but, sometimes, they throw in these "junk fees" later and when you get to the closing table you don't feel in a position to be negotiating fees because you risk the deal falling through. I suggest you ask your escrow office to provide a final settlement statement at least 1 day before you are schedule to sign closing documents. You can compare this to your original "Good Faith Estimate" to be sure they're not charging you what we call "junk fees", which are just extra to create more profit for themselves.

My final comment is to shop for a loan just like you would shop for any large ticket item, and be sure you know all the fees involved. The "Good Faith Estimate" is your best upfront tool in comparing loans.

Have a great week,
Carol

International Property Search

is a website I recently discovered where you can search for properties in 24 countries around the world. This site assists consumers with locating properties, real estate professionals, and real estate business practice information in the international market, through the International Consortium of Real Estate Association. (ICREA). The National Assn. of REALTORS® is a founding member and co-chair of the group.

Have fun checking it out.
Carol

www.TopPropertiesWenatchee.com
www.CarolsWenatchee.com

Google's New Blog Search Feature

Have you heard about Google's newly launched blog search feature? It is totally awesome because if you forget the address of any blog (or want to find new blogs) you can just go to the Google blog search and type in the name of the blogger or the city or subject... whatever is most appropriate. In my case I typed in "Wenatchee Real Estate" and my blog entries were all over the place. Then I typed in just the word "Wenatchee" and there they were again. I must be the only one in the world "blogging" on the Wenatchee real estate market. This feature in Google is just for weblog searches, and not web sites in general. You can type in your favorite hobby or the city where you live or whatever and get a bunch of blog entries to choose from. This is truly awesome! Google rules the blogosphere!

Have a great day!
Carol

Carol@TopPropertiesWenatchee.com
Residential Blog: www.CarolsWenatchee.com
Primary real estate website: www.TopPropertiesWenatchee.com

Investment Real Estate Prices

Dear Readers,
As the effects of Hurricane Katrina rage throughout the economy, I have been contemplating how this is going to affect our Wenatchee area real estate market. Our national economy is so intertwined, we can't kid ourselves into thinking it's not going to affect us here in the Wenatchee Valley.

For example, there is an ever increasing demand on the reduced supply of building materials and other supplies. As petroleum prices increase, building supplies cost more to produce.... and it costs more to get them delivered to their ultimate destination. There is going to be a huge demand through the hurricane ravaged area and we are going to pay more for supplies and labor. The reality of prices based on supply and demand will never be more obvious.

There has been a surge in multi-family investment construction in our local market area. The above factors are going to significantly affect the future construction costs of such projects. Will they continue to develop or will this slow the trend? Will existing investment properties become a more attractive investment or will they go up in value to reflect the potential reduction in competition?

So many questions. So few answers. Stay tuned.

Have a great week-end!
Carol

HUD Removes Foreclosure Properties

Two thumbs up for HUD.

I just read on the Real Estate Blog Squad blog that the Department of Housing and Urban Development (HUD) has removed their foreclosure homes from the market in the following states:
Georgia, Oklahoma, Tennessee, Kentucy, Texas

This is being done in response for the critical need for housing to care for those displaced as a result of Hurricane Katrina.

And, remember, real estate agent have lost their homes and jobs too. If you have any opportunities for them, please let me know!

Thanks!
Carol

East Wenatchee Development Property

Here is a newly listed local investment opportunity:
Home on large lot, with potential to divide lot off and build duplex or other multi-family. The home has been used as a duplex, with complete living area on the lower level. 936 sq.ft. on each level.

The home has been vacant for nearly two years and was recently purchased from an estate. The home is in good condition, and the interior recently painted but the yard needs some TLC. The current owners have already done a lot of work with chain saws and weed whackers to clean it up. Home alone is listed at $139,900.

Additional lot, when separated, will be $39,900... but a discount would be given if bought all together.

For details and to arrange a preview of the property, e-mail or call me at:
Carol@TopPropertiesWenatchee.com
509-670-7840

To search for other investment properties, visit my primary real estate website at:
www.TopPropertiesWenatchee.com

Or... write me with your specific criteria and I will send you a customized list of investment properties:
Carol@TopPropertiesWenatchee.com

Have a great day!
Carol