Beware of Being Fooled By Home Staging

According to a report just out, it is too easy to be fooled by home staging. Home staging is a term that we are gradually becoming familiar with. It is the idea that we try to create the best impression of our home when selling the house. It used to be just run the vacuum over it and do the dishes but nowadays there is a whole set of rules to follow!

The idea is, that a staged home stands out from all the others and therefore gets sold more quickly. It certainly can be carried to extremes with reports of sellers hiring storage units to cart their junk off to. Larger items of furniture are encouraged to be put into storage by professional 'home stagers' so that the house looks bigger and more spacious

Another instruction is to remove anything personal like photographs, so that the prospective buyer can visualize the house as their own. Closets are de-cluttered so that they look more spacious and all bathroom paraphernalia is supposed to be gone from the counter top! Garbage bins are even removed and hidden from sight.

However it has been suggested that home staging can also be deliberately used to hide a multitude of sins!

The National Association of Exclusive Buyer Agents (NAEBA, who solely represent buyers in the realty business) has suggested that as much as 82% of buyers are sidetracked from the important issues by a well-staged house. This organization also concedes that home staging nets more cash and faster sales - so it works!

Some of the underhand tricks used in staging can include using smaller furniture to make a room look larger, placing rugs over damaged parts of the floor, or using curtains to hide rotting sills. Also specified is the practice of putting a cheap paint job on to cover defects. Your realtor is legally obligated to let you know of any defects, but only if he actually knows about them!

Buyers are urged by the NAEBA to be cautious and to remember that when the house is sold, the stage is taken away. The tricks of home staging do not improve the floor plan, or the square footage of the home or the quality of the neighborhood, and these are the qualities that you will be re-selling at a later date.

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Commercial Real Estate - From A to Z

Commercial real estate is distinctly different from residential real estate. The terminology is very different and here is a list of new terms from A to Z.

Commercial Terms

According to Value:  The value of the property when computing property taxes.

Build to Suit: A customized design and build approach for a single tenant space usually resulting in a single occupant building which is then leased or sold to the tenant.

Certificate of Occupancy: Issued by a city building department and is a necessary requirement prior to moving into the space.

Common Area Maintenance: Typically an annual charge assessed to tenants based on their percentage of occupancy to pay for maintenance of parking lots, bathrooms and open areas.

Demising Wall: A wall between two separate suites in a building with multiple tenants. In many states, the demising wall must meet specific fire safety standards.

Flex Space: A building providing mixed-use space such as an area combining an office and warehouse.

Gross Square Feet: Usually refers to gross footage of a building. GSF is typically arrived at by calculating the footage from the outside of exterior walls multiplied by the vertical footage.

HVAC: Refers to the climate control systems for a building including heating and air conditioning.

Mechanic's Lien: A legal claim typically filed by a subcontractor to obtain payment for services rendered. The claim arises under state law and is dependent on each states particular law.

Unlike residential real estate, commercial real estate is primarily considered a business transaction. Learn the terms and you're well on your way to moving smoothly through the process.

Operating Expenses: Just as it sounds, operating expenses are those costs associated with operating a commercial property. Contract and state law typically govern the exact nature of the operating expenses.

Partition Wall: A wall built in the internal area of a suite to divide the general space. For instance, offices built during a tenant improvement project with have partition walls separating them.

Punch List: A punch list runs part and parcel with a walk through of completed construction work. The construction company and client will walk through the area and complete a punch list of items that need to be fixed or modified.

Shell Space: The interior of a commercial building that has been completed, but does not yet have any tenant build outs. The shell space generally refers to this gross square footage regardless of whether tenant improvements have occurred or not.

Substantial Completion: Notice given by a contractor to the client indicating the property has been completed to the point where a walk through and punch list review are appropriate.

Usable Square Feet: The square feet in a building, suite, warehouse and so on that can actually be used by tenants. Due to building regulations and design issues, certain amounts of a space in a tenant suite may not be usable and such footage is excluded from this calculation

Commercial real estate is distinctly different from residential real estate. The terminology is very different and here is a list of new terms from A to Z.

Commercial Terms

According to Value: The value of the property when computing property taxes.

Build to Suit: A customized design and build approach for a single tenant space usually resulting in a single occupant building which is then leased or sold to the tenant.

Certificate of Occupancy: Issued by a city building department and is a necessary requirement prior to moving into the space.

Common Area Maintenance: Typically an annual charge assessed to tenants based on their percentage of occupancy to pay for maintenance of parking lots, bathrooms and open areas.

Demising Wall: A wall between two separate suites in a building with multiple tenants. In many states, the demising wall must meet specific fire safety standards.

Flex Space: A building providing mixed-use space such as an area combining an office and warehouse.

Gross Square Feet: Usually refers to gross footage of a building. GSF is typically arrived at by calculating the footage from the outside of exterior walls multiplied by the vertical footage.

HVAC: Refers to the climate control systems for a building including heating and air conditioning.

Mechanic's Lien: A legal claim typically filed by a subcontractor to obtain payment for services rendered. The claim arises under state law and is dependent on each states particular law.

Unlike residential real estate, commercial real estate is primarily considered a business transaction. Learn the terms and you're well on your way to moving smoothly through the process.

Operating Expenses: Just as it sounds, operating expenses are those costs associated with operating a commercial property. Contract and state law typically govern the exact nature of the operating expenses.

Partition Wall: A wall built in the internal area of a suite to divide the general space. For instance, offices built during a tenant improvement project with have partition walls separating them.

Punch List: A punch list runs part and parcel with a walk through of completed construction work. The construction company and client will walk through the area and complete a punch list of items that need to be fixed or modified.

Shell Space: The interior of a commercial building that has been completed, but does not yet have any tenant build outs. The shell space generally refers to this gross square footage regardless of whether tenant improvements have occurred or not.

Substantial Completion: Notice given by a contractor to the client indicating the property has been completed to the point where a walk through and punch list review are appropriate.

Usable Square Feet: The square feet in a building, suite, warehouse and so on that can actually be used by tenants. Due to building regulations and design issues, certain amounts of a space in a tenant suite may not be usable and such footage is excluded from this calculation

Want to deal in Corporate Real Estate? Gurgaon is a right place for Real Estate business, as many of the corporate companies are moving here.

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Thinking to buy a home, one of the key components is the down payment. F years ago when the housing cracks it’s peak, there were no money down loans floated out there, but those are past history. Now you need hard money to make the loan.

Home Loan Interest Rates
State Bank Of India		10.75%
ICICI Bank		Scheme I :10.50% (Fixed 1 yr) Scheme II : 10.75% (Fixed 2yrs) Scheme III : 10.75% (Fixed 3yrs), then 10.50%
HDFC Ltd		Scheme I : 10.75% (Fixed for 3 yrs ) Scheme II : 11.25% (Fixed for 5 yrs ) , After that 10.50% rate or then applicable rate.
HSBC Bank	11% - Regular Home  Loan 11.50% - Smart Home
LIC Housing	Scheme I : 10.80% Scheme II : 10.70% (Fixed for 3 yrs)
AXIS Bank	Scheme I :11.75% (Fixed for 20 yrs) Scheme II : 10.75% (Upto 25Lacs),Then 11%
Citibank	10.50% (Upto 25Lacs), then 11%

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