LAND PRESS

Real Estate Scams Getting More Popular

Jeremy Moore — Mon, 22 Nov 2010 15:43:25 +0000

I have several properties I list and keep active. Of courseI add new ones as I get them. I have recently been indirectly affected by a scam. I have found out that one of the properties not my listing but I advertise it has been hit by a scam. Someone posing as the owner”who is by the way in AFRICA….what a surprise…”(the real owners are not in Africa) is trying to convince people that this property is for rent. They are requesting that money be send to them to rent this home.

I have had to add a blurb to my listings and on my FB account and my FB Business Page that I am not in the business of renting out properties. I am in the business of Selling them.

Real estate scams are getting more and more popular. A common real estate fraud is renting a property without the owners consent. The uninhabited recently inherited and otherwise unguarded property is the most likely target for such scams. The most innovative thieves are able to even rent the same property to several people at the same time. Like this case I have mentioned the home is usually rented without an actual viewing but via pictures usually ones put on by the Real Estate Agent trying to sell the property. And the money is wired to the “owners”.

People, please do not wire money to anyone. And always go and knock on the door of the home you wish to rent just to be make sure it is available and authentic. The owners may be surprised to see you standing there,suitcase in hand,trying to move into their house.

The imagination of these scam artists is unlimited and most of the time we can’t do much more than minimize the damage they inflict. All of us need to become aware of the real estate scams and be able to protect ourselves and/or someone you know. Consumers beware !

Jeremy Moore
Sales Respresentative
Century 21 United Realty*
www.century21.ca/jeremy.moore

So… What’s Your Land Worth?

Gina Gamma — Wed, 01 Sep 2010 20:57:13 +0000

OK , now don’t shoot the messenger here…but I can almost guarantee it is not going to be the first number that popped into your head! But wait! YOUR land is the best, the greatest…most beautiful..most desirable property out there! Well of course it is, or you would not have made the leap and signed those papers when you bought it

With the caveat that in Colorado, the law does dictates that the seller has the final decision on what they want for their land, I can say with most assurance that the value of your land .. is based entirely on what a buyer is willing to pay for it!

We do use some benchmarks to get an actual and current market value. Let me share how I determine what that current market value is. I use a three legged approach, by using only those properties that offer similar features, views, trees, amenities, water (if you are lucky to have it), utilities etc.

First I use any past sales for the last 6 months, and if we can not find at least four or five sales, we will go 12 months (which for 35 tracts of mountain land will likely be the case). I use past sales, mostly because this is what an appraiser will do when you sell your land to a buyer, as the buyer’s lender will require it. If there is no lender involved it is still a great indicator of the current buyers mind set.

Second, I check and see what else is on the market currently. With rural, vacant land not all properties are posted in the multiple listing services. So it is important to include local developer properties, perhaps FSBOs, and even smaller independent real estate companies who don’t have access to listing services. Any and all property that is in direct competition with your property will be factored in.

Final and the most important aspect, is the psychology! Is it a Buyer’s market? Are you competing with highly motivated sellers? Are there five properties on one road we need to drive by when showing yours? High percentage of properties on a particular ranch on the market at one time? Are there some very rare aspects of your land we can consider? Water, walk into public lands, expansive snow capped mountain views? Is “time to sell”-vs.- “top dollar”, most important to you?

What you will notice about the above process (other than it is it is a bit different than a home valuation process), is that I did not mention how much someone wants to net, or make on.. their land. There is no mention of a “need to break even” amount, if there was interest paid on a note, or if there are improvements that were made that they are trying to recoup costs on. Fact is, if I do not already know I will not look up what a seller may have initially paid for a property either.

Because frankly folks, although those factors may be very important in determining whether or not now is the best time to put your land on the market, they really do not have an impact on what any current market will bear. Economic conditions, more aggressively priced similar properties, over all “buyer traffic”, and the amount of property available (supply and demand), that may have features and benefits that are along the same line as your property, are much more a factor in determining market value.

Most any agent can do factual checks from a computer, but when it comes to the process of finding a realistic market value for your land, it does make a difference to find an agent with experience in marketing similar properties in the particular area where your land is located.

If you happen to have property in Pueblo, Custer or Fremont Counties, feel free to contact me directly for a personalized and up to date, market value on your property.

And as always…Happy Trails~

Gina Gamma
Owner Managing Broker
Colorado Mountain Land Realty Inc
1-719-564-8329
www.ColoradoMountainLandRealty.com

Finding Rural Property To Suit Your Needs

Katelyn — Wed, 14 Apr 2010 16:13:23 +0000

Many people dream about owning their own piece of rural real estate. Some are looking for a get-away for recreational use, while others are planning to move and live on their land. As you might guess, buying the first piece of land that you find and packing up and moving there to start a new life is not realistic thinking at all. There are many different factors to be aware of when choosing what kind of land you want, depending on what you want to do with your land. It is very important that you are aware of these factors as you look to buy rural real estate!
First, you must have a clear picture in mind of what you want to do with your property. Rural real estate is used for all kinds of things: farming, horticulture, recreation, living, etc. Knowing exactly what you want out of your piece of land will obviously inform you of what kind of land you should buy and the resources that you will need. For example, it is not enough to just know that you want to graze animals on your land. For this purpose, you will not only need pasture-type land, you will also need animals, access to water, a fence, shade for the animals, etc. If you want to grow vegetation you will need to research the different soil types, and make sure the land that you are looking at has a slope, drainage etc. It is very important to find out whether the property you are investigating will accommodate ALL your needs.
After you make sure the land you are looking at accommodates all your needs, look more into the land’s resources. How much does the water supply cost? Depending on your use of the land, you might need a large supply of water, and water supply costs can be high in some areas. Does the local area require that you have a license to store and irrigate water? What about the waste and garbage systems in the area? Find out about the local sewer system and garbage disposal service. These are the type of questions you need to ask about your future property.
You also need to look into the area’s laws and regulations having to do with real estate. Depending on what state you are in, there could be land management guidelines and catchment plans. These kinds of restrictions are often placed to protect the environment and the land. These regulations could be things such as control of weeds, vegetation clearing, animal health, quarantine, etc.
Of course there are other kinds of resources that you need to invest your time and money in. There are setting up costs, managing risks, maintenance, and infrastructure. You could also benefit from taking courses that have to do with what you are trying to do with your land. There are courses on land management, chemical use, farm and environmental management, horticultural production, etc.
Owning rural property is something that can be fun and rewarding. Investigate and research your land THOROUGHLY before you buy it, and this will help you tremendously in the future. Be aware that if you buy land, you have the responsibility of taking care of it, which requires time and money. Use the search bar on LandSaleListings to look for the type of land that meets your needs!

source: UMCCC

Tips on Buying Hunting Land

Katelyn — Fri, 26 Mar 2010 16:49:51 +0000

You want to have greater success hunting and you are looking for ways to do that. One option is to buy your own hunting land. There are definitely benefits to having your own property to hunt from. You have control over your land and you don’t have to worry about having to work with others to make things work. The biggest advantage to owning your own land is the freedom that you have over it.
However, there are disadvantages to owning your own land. It is expensive to buy and it takes a lot of time and money to manage it. With owning your own land comes the responsibility of taking care of it. Also, the best hunting properties, which is land that encompasses several home ranges of deer, are usually incredibly expensive.
If you can’t afford the biggest and best hunting land, don’t give up the idea of owning your own land just yet. There a few good tips on buying land that aren’t too expensive. First of all, buy land that is close to where an already well managed deer property is. Remember the saying, “birds of a feather flock together”. You will have the most success doing this; you and the owner of the well managed land will benefit. Second, look into the 1031 tax exchange. Basically it “allows you to sell one piece of real estate and replace it with another one while deferring capital gains tax and recaptured depreciation to a later date when you choose to cash out of your real estate holdings”. This can be a good way to make the most of your money.
Check out LandSaleListings hunting land for sale!

Source: buyhuntingland.com

Good News! Expected Rural Economic Growth in Midwest

Katelyn — Fri, 19 Mar 2010 16:54:07 +0000

Earlier this month, bankers surveyed the economic situation in the Midwest and found that the Rural MainStreet index is the highest it has been in two years. The Rural MainStreet index is based on a scale from 0 to 100 and the survey showed it to be currently at 47.4. For about sixth months it had been steadily increasing and compared to last year’s (2009) index in March, it has doubled. It has been below 50 for about 25 months. Anything above 50 indicates economic growth.
Although the economy is still weaker in rural areas that in urban areas of the country, based on this survey, improvement has been seen as the numbers have been increasing. The bankers who ran the survey also reported that farm and ranch values have seen growth. However, the index for farm equipment has dropped.

Check out LandSaleListings rural land for sale in the Midwest!

source: Omaha World Herald

Is Organic Food Really More Nutritious?

Katelyn — Mon, 15 Mar 2010 16:16:31 +0000

In recent times, organic farming has become increasingly more popular and the demand for organic food has also risen. However, there is debate on whether or not organic food is actually more nutritious than non-organic food.
Scientists have tested non-organic and organic potatoes and have found that organic potatoes have more vitamin C and potassium than non-organic potatoes; however, they have less calcium and iron. Last year, a British study tested the difference between non-organic and organic food and concluded organic food wasn’t necessarily more nutritious than non-organic food.
There are a lot of good reasons to eat organic food; by eating it you support organic farming which is better for the environment and you also avoid eating pesticides. However, if you are eating organic food for nutrition reasons, you should question whether it is really more nutritious than non-organic food.

Find Organic Farms for sale on LandSaleListings here!

Source: CTV News

Hot New Real Estate: The Island of Hainan in China

Katelyn — Wed, 17 Feb 2010 17:28:46 +0000

Hainan, an island in China, has recently seen a boom in real estate prices due to China’s recent announcement that the island would be developed into an international tourist location. In the last five weeks, real estate prices on this small island have jumped by about one-third their original prices.
On the whole, China’s real estate prices have spiked. In seventy of China’s major cities, prices were up by 9.5% from the previous year. Developers are especially interested in the island of Hainan because of the recent golf courses and five star hotels that are being built there. There has also been talk of the government loosening their policy on casinos for the island of Hainan. The island, in attempt to attract tourists, might become the first territory outside of Maccou to allow casinos.

Source: MarketWatch.com

Iowa Farmland: Good Land Investment!

Katelyn — Fri, 12 Feb 2010 17:30:43 +0000

You might wonder if there are any good land investments available in the U.S. in the current bad economy. In a recent land investment expo, economists and realtors addressed the situation of Iowa’s current land value. The majority agreed that although Iowa’s land values are somewhat flat, they are no longer declining. The editor for “Landowner Newsletter”, Mike Ralston, believes that the correction is over, implying that the land values can only increase in value from now.

On top of that, economists at the expo predict that farmland and crop production will follow the trend of the past couple of years of being profitable. Livestock production has not proved to be profitable in recent years; however, economists are saying that both livestock and crop production will be profitable this year.

Check out LandSaleListings Iowa property listings!

Source:http://www.iowafarmer.com/articles/2010/02/09/top_stories/land14.txt

Owning Property In Canada

Elio Scocchia — Mon, 08 Feb 2010 20:18:04 +0000

Canadian recreational property markets are considered undervalued and world class and represent an incredible opportunity for international investors.

ONTARIO, CANADA could be your recreational paradise.

Come and enjoy one of the last, best and safest places on earth to find large amounts of recreational properties.

While Canada’s population is 1/10^th of the USA, it’s urban population is virtually identical at 77%. What remains is millions of square kilometres of unspoiled, unpolluted and undisturbed wilderness.

The province of Ontario has a population of over 12 million people, most of whom are located in Southern Ontario which occupies about 1/6^th of this province.

The other 5/6^th of Ontario is known as Northern Ontario and has a population of less than 700,000 people and this is where you’ll find that special property.

So, enjoy the largest amount of fresh water lakes and rivers in North America.

Enjoy unlimited fishing, hunting, cross country skiing and snowmobiling.

The following are some questions we regularly get asked and the answers.

I am not a Canadian citizen, ie: am an American citizen, can I buy land in Ontario?

Yes you can. You are treated just like a resident buyer. The bottom line is that buying real estate in Canada is very easy.

Are there any unusual taxes or levies for a non-resident buyer?

No. Sometimes if the property is being sold by a company or by a person who is in the business of buying and selling land, a Goods and Services Tax (GST) of five (5) percent of the purchase price is applicable. This tax is collected by the lawyer and remitted to the Canadian Government. If applicable, this tax is paid by the buyer, whether they are Canadian citizens or not.

Who handles my closing?

In Canada, closings are done by Canadian lawyers, the buyer has a lawyer and the seller has a lawyer. You should get a lawyer from the jurisdiction you are buying in.

How much will my lawyer cost? What are the closing costs?

Closing costs are made up of three costs
1: Land Transfer Tax (LTT): This is collected by the lawyer and remitted to the Provincial Government. For calculating this tax, the purchase price is converted to Canadian Dollars. The formula for this tax is $5 per thousand for the first $55,000
$10 per thousand for the next $145,000
$15 per thousand on any amount over $250,000

example:

for a purchase price of $50,000, the LTT would be $200 Cdn..
For a purchase price of $80,000, the LTT would be $525 Cdn.

2: Disbursements: This would include, long distance calls, courier costs, title searches, photo copies, stamps, seals etc. Typically these costs average in the $250 to $300 Cdn range.

3: Legal Fees: This fee would be what the lawyer actually charges you for his time to handle your transaction. This fee would be what you negotiate with the lawyer. It is a good idea to check with 2 or more lawyers as some are more negotiable than others. They all have to do the same work and guarantee title for you. The lawyers job is to ensure that you are actually buying the property you think you are.

He reviews the Title Search on the property with you, explains the terminology and ensures that you have clear title to the property. Typical costs would range from $700 to $1,500 depending on the amount of work required.

Do non-residents pay a different rate of land transfer tax when purchasing real property in Ontario?

No. The residency of the transferee is not relevant to the amount of land transfer tax paid on the purchase of an interest in land in Ontario. A non-resident pays land transfer tax at the same rates as a resident.

Buying property in Canada. How do I go about doing it?

Once you have found your property, an offer is made and once accepted, a deposit is payable. When buying a property in Canada, an offer must be made in writing so that all aspects of the transaction are clearly outlined within the offer. Once you (the buyer) have signed the document, it becomes legally binding. If you withdraw from the offer at this stage, you may lose your deposit and may also be sued. Once your offer is complete it will be presented to the seller and negotiations are made. This may include changes in price, completion date and chattels. The changes are initialled by the seller and returned to you (the buyer) for your initials. The resulting Agreement of Purchase and Sale will state the purchase price and the deposit. The deposit is placed in a trust account and is credited towards the purchase price once the offer has been accepted by both the seller and the buyer and the transaction is complete.

What about selling my property that I own in Canada?

When a non-resident sells Canadian real estate, he/she is required to pay the appropriate amount of taxes on any capital gain. The normal Canadian tax rates will be applied to 50% of the gain. However, a non-resident is required to pay an estimate of the tax before the sale, an amount equal to 25% of the gain. This amount is to be retained by the seller’s lawyer until such time as a clearance certificate is received from the Canada Revenue Agency (CRA) in connection with the sale of the property. Upon payment, the CRA will issue a clearance certificate to the seller, but not until there has been a contract of purchase and sale with all subjects (conditions) removed. The wait for the certificate is usually 6-8 weeks. The non-resident seller should file a Canadian income tax return for the year in which the sale occurs and should expect to receive a refund of a portion of the taxes paid.

Many countries, such as the U.S., have tax treaties with Canada that prevent you from being taxed in both Canada and your home country. It is advisable to contact a tax accountant in your country for more information.

What about residency issues?

If you stay in Canada for six months or less each year, the government considers you a tourist or non-resident. (Americans don’t need a visa to enter the country. ) That means that you can do just about anything – open a bank account, buy land, a car. Purchase stocks or bonds – except vote.

Americans who live in Canada for more than half the year but who don’t want to apply for working authorization simply leave Canada every six months. Each time they return, the six month “tourist” period begins again. There’s no limit on the number of times you can go back and forth across the border. For more detailed information contact Canada Customs and Immigration.

PROPERTY RIGHTS, HISTORICAL CONTEXT
The ownership of surface rights and mining rights varies from one parcel of land to the next across Ontario. The Crown (Canada) has created land title since the early days when Ontario was an English colony. There have been a number of different practices spanning over 300 years of land settlement. The practice of the Crown in England, for example, was to reserve to the King or Queen the precious metals of gold and silver in the grants of land termed “Patents.”

In 1913, the province amended its Public Lands Act so that any title granted by the Crown before the amendment included mineral rights ownership. Any parcels of land granted by the Crown after May 6, 1913, may or may not include the mining rights depending on how the title is worded. Ontario’s current Public Lands Act authorizes the Minister of Natural Resources to sell or lease land. Today the province’s policy is to reserve mining rights to the Crown in the majority of land grants.

What do you mean when you talk about a shoreline reservation?

All waterfront property in Northern Ontario has a standard 66 foot shoreline reservation, unless otherwise transferred to the Deed. This reservation can be as deep as 200 feet on some properties. This part of the property is owned and controlled by the Ministry of Natural Resources. No permanent development or shoreline development is allowed on this reservation. In most cases the shoreline reservation may be purchased from the Ministry of Natural Resources.

What is the difference between mineral rights and surface rights?

There are parcels of land in Ontario where landowners may own the surface rights but do not own the mineral rights in, on or below their land. The Ontario Mining Act provides a statutory right to stake mining claims on Crown mineral rights and to conduct assessment work on the mining claims even if the surface rights are privately owned.

Section 78 of the Mining Act requires that the holder of a mining claim notify the surface rights owner of their intention to perform assessment work on that claim. This notice is only given once, prior to the commencement of assessment work.

The Mining Act also provides for a process of compensation if there is damage to the property of the surface rights holder. Should there be any damage to surface rights, the Mining and Lands Commissioner may award compensation. There have been approximately fourteen applications filed with the Commissioner on compensation issues over the last ten years.

Section 32 of the Mining Act prohibits prospecting and staking on that part of a lot where there is a dwelling, cemetery, public building, garden, orchard or crops that may be damaged. Prospecting and staking can only occur in these areas with the consent of the surface rights holder or by order of the Provincial Mining Recorder or Commissioner. If consent is not given it may mean that the mining claim is invalid or that parts of the mining claim may be excluded.

What are mining rights?

Put simply, mining rights are the rights to the minerals located in, on or under the land.

What are surface rights?

Surface rights refer to any right of land that is not mining rights..You are the Deeded property owner and have the legal right to walk & enjoy the surface of the property. You can build or construct a dwelling on the surface of the property.

What does it mean when you say “all timber rights are reserved to the Crown”?

Timber rights reserved means that all the timber (trees) standing on the property do not belong with the property. These trees are reserved to the Provincial Government. or to an individual. This includes all tree species except Pine trees. Although the Government owns the trees they do require the permission of the property owner to harvest those trees. If the property owner wishes to harvest the trees on the parcel, the owner must call the Ontario Ministry of Natural Resources District Office for further details.. A stumpage fee is owed to the Ministry of Natural Resources when harvested.

What does it mean when you say ” timber rights are included”?

You, the property owner, own the trees except the Pine.

What does it mean when you say “all pines are reserved to the Crown”?

All Pine trees standing on the property are owned by the Provincial Government. The property owner does not own these trees. To harvest Pine trees you must contact the Ontario Ministry of Natural Resources. The Pine rights can be purchased from the Government.

What does it mean when you say “all pine rights are included “?

You, the property owner, own the Pine trees.

What does it mean when you say “all mineral rights are reserved “?

The minerals above or below the surface are reserved to the Government, Mining Company, Prospector or a private individual.

This includes all precious metals, ores, sand & gravel. When a Mining Company, Prospector or other individual own the mineral rights, they do not need the owners permission to go on the property and do exploration work. The Mining Company, Prospector or other individual only need to inform you in writing, the day before, of their intent to perform work.

Owning the timber rights on the property, when the mineral rights are reserved, is a very large plus for the property owner.

The majority of prospectors and mining companies are very good to work with, and between the owner and themselves, will normally work out a fair compensation package for any exploration work that will be performed.

All private properties that were patent under the Private Lands Act prior to 1913, have the mineral rights included in the property.

For more information (and there is much more), please call the Ministry of Northern Development & Mines. 1-705-670-5742 1-705-670-5742 or 1-888-41-9845

What does it mean when you say “all mining rights are included”?

You , the property owner, own the minerals above & below the surface.

Elio Scocchia
Apex Realty Services Ltd., Brokerage
(807) 683-9871
www.recreationland.net

View Elio’s listings on LandSaleListings.

O Canada! The Land of Real Estate Opportunity

Katelyn — Tue, 02 Feb 2010 18:15:53 +0000

Are you interested in buying land in Canada? Are you wondering why you should buy land in Canada?

Buying Canadian investment property has become more and more of a popular thing to do for non-Canadian internationals, especially around the US/Canadian border. There are several reasons for this: First, cities are not yet overdeveloped, thus there is commercial land that is actually available to purchase that are proving to be good investments as the cities grow. Second, tourism is a pretty big industry in Canada and there are tourists that are always looking for accommodations to stay in. Vacation housing can be rented out to tourists and this also can be a good investment.
Residential property has also seen an increase in sales by non-Canadian internationals. Canada’s beautiful terrain draws people in on vacations and many times these people choose to buy their own property to build their summer houses on. Rural land is usually cheaper than urban land, and thus, good deals can be found for people looking for vacation housing and recreational real estate. If you are looking to vacation in more of an urban context, apartments have recently seen a big boom in cities and can be good housing to buy for a place to experience life in the city.

There are many different types of Canadian real estate for sale on LandSaleListings. Browse through Canada Real Estate to see the different hunting land, recreational property, lodging, lake-views and beach access property!

Source: http://business.ezineseeker.com/property-in-canada-guide-to-buying-property-in-canada-13a23fc0f6.html