Posts tagged " Real Estate "

Bed Bugs Infestation in NYC: Are You at Risk?

October 1st, 2009 Posted by Real Estate No Comment yet

Do you remember seeing the bed bugs advertisement on the subway with the close up pictures of the nasty crawlies? I always thought that bed bug infestation was a ‘developing country’ issue, and the advertisement was just targeting a niche and paranoid market.

Little did I know that we actually have a bed bug epidemic right here in New York City! What is this? Should bugs fighting be another item on my daily household chores?

Check out which borough is the most infested here. (Phew, luckily I live in a ‘least buggy neigborhoods’). However, do note the flaw in the study as they quote absolute numbers and not percentage, which can make the bug problems in densely populated boroughs look worse that it is.

And if you are one of the many New Yorkers who put the bulk of your world possessions or winter wardrobe or baby stuff in storage (third party or your building), you got to read this. They are everywhere! Learn how to protect your stuff.

Bugs, please be gone! Move to the next state.

(Bed bug picture by unknown, this is the only picture on Farting Camel not taken by Mira.)

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Why Invest In Off Prime Location In Real Estate?

July 18th, 2009 Posted by Real Estate No Comment yet

Have you ever heard of the saying that in real estate it is all about location, location, location? In theory it is always best to buy in prime location. This strategy is to guard against the downsize. When people talk about the downside it means what will you lose if things go wrong? We are here to tell you something different. This strategy as outlined below is for the long term. And it is best to act in this real estate market.

Real estate price rise and fall tends to be a function of the overall local market. The price will increase first in the prime area. After a short period when the mass majority can’t afford the prime location they would settled for nearby properties. The price will decrease in the reverse order. That is because when prices fall people who can’t afford the prime area will make an upgrade at that time. Although this percentage of people is very small the vast majority will never be able to upgrade because of the falling value on their own properties. The other source is the existing demand like renters waiting to buy, etc.

For these reasons the price on prime location will remain high even when the market starts to drop. So if you buy an off prime property in a peak real estate market you are likely to pay too much and you are the first to lose money. (More on page 2.)

Real Estate Negotiation Secret

July 18th, 2009 Posted by Real Estate No Comment yet

In real estate everything is negotiable. Sellers and landlords can ask any prices or terms that makes it profitable for them to want to sell or lease their property to you. It is up to you to determine what you are willing to pay for the property. How you go about determining what price or term is reasonable – that is another topic. The bottom line is that even the commission the agents charge in a real estate deal are negotiable.

Why? You have to understand the premise. At the root of the issue is price fixing. No government wants organized bully in their economy. It is not good for competition. Without competition prices would go up and the value you get from the product or service would go down. Not to mention a lot of unhappy consumers. If real estate agents get together to fix a “standard commission” they would violate fair trade laws. I’m not a lawyer but I do know that price fixing is illegal.

Now, most of the time real estate agent will tell you what is the norm or local practice. That is only a guideline. You don’t have to follow the norm. Why would anyone want to follow the norm? It’s only a guideline. As a buyer or renter you have competition. If you know what most buyer and renter are willing to offer it’s up to you to decide what you want to do? Give yourself choices.

Don’t think that the norm is standard, worst yet “fix”. This will prevent you from negotiating. It is not really a secret but I can tell you many times people will just accept the norm to be non-negotiable. You shouldn’t be one of them.

Original Post Date: February 22, 2009
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