Amazing! A Real Estate Investing Social Game

Hi Everyone,
   Hope your week is going well !
   Well, it had to happen. It was a matter of time.

   A Golden Idea...yes, I'm talking about a Real Estate Investing Video Game !

   "Commonwealth Bank’s Investorville... Build a property portfolio without spending a cent". This is how the product was introduced in a Press Release from Commonwealth Bank in Australia.

   The program, Investorville", is billed as an "online simulation tool for budding property investors" as per the Press Release, and it operates in a "social game-like environment that uses gameplay to simulate scenarios", as per the story titled, "CommBank releases investment game", written by Laura Parker for GameSpot AU on ZDNet.com.

   Investorville is the product of both Commonwealth Bank and creative agency BMF, and incorporates market insights from RP Data. The game "mimics reality to provide people with real-time exposure to the property market, allowing them to make more informed property decisions.", per the Release.

   The game was created for both Existing Homeowners and also for those who already own an investment property. The online site is designed to be as, "fun and engaging as it is educational and informative.", says the Release, and it permits users to simulate "ongoing costs, without ever putting any of their own capital at risk".

   How does it work?

   Parker describes it as follows: Users start by making an online profile with personal relevant information on current budgets and existing real estate investments. Users can then search for investment properties in suburbs across Australia based on their target price; after a property is found, users will have a simulated 15-year period in which they must set rent, decide when to repair or renovate, and deal with events such as changes in interest rates, pay increases or decreases and bad tenants. Users can also choose to purchase more properties as the simulation advances, based on how well their investment is going.

   Mark Murray, General Manager Commonwealth Bank Consumer Marketing, explained "the rationale behind the development of Investorville" in the Release as follows: “Making the leap from owning your own property to buying an investment property can seem quite daunting to a lot of people. Investorville helps to break down common misconceptions and show the practicalities of property investment.", and adds that the, "really beneficial part of Investorville is that users can, in the true sense of the term, try before they buy", since, "The properties and data are reflective of the Australian property market and the types of properties available”. Aaron Michie, Interactive Concepts Director at BMF (the creators of Investorville), says the following regarding Investorville; "Investorville combines sophisticated economic modelling and real market data with a simple user-friendly gameplay to give people realism and simplicity.”

   The first real estate-oriented application that was developed by the bank was the "Commonwealth Bank Property Guide iPhone App", which was launched in 2010, and it uses "augmented reality to overlay data and tools onto the phone’s screen, providing property information on almost any premises the phone is pointed at"

   Does anyone out there think there is a version for the Wii or Xbox on the horizon? As silly as it may be for me to admit, I think it is a very good possibility.

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Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: #RealEstateInvesting #socialgame #propertyinvestor #Australianproperty #iPhoneApp

Is Now The Right Time To Buy A Second Home?

Hi Folks,
   Today, we have a special guest post from Matthew Read, a home insurance specialist, who will be discussing the topic that a lucky few of us get to ponder; "Is Now The Right Time To Buy A Second Home?"

***
It might sound crazy to invest money in a second property at the moment, given the instability of the economy, but there are a few positive reasons to do so:

First:
Home prices in many areas of the country are low...very low! According to Zillow.com, the average home price in the U.S. has fallen by around $65,000, as the average price went from $240,000 down to $175,000 since 2006. Although home prices might continue to fall, they are currently at a very appealing level, and so now might be the time to invest in a second home before prices start to rise again.

Second:
Interest rates are very low, meaning that, if you can get a mortgage, now is the time to do so. For those who already own a home, the mortgage rates on a second home would be incredibly appealing at the current time.

Third:
A second home can be a great money earner. Although you might have to spend money on fees, maintenance and second home insurance etc, you could rent out the home or do a rent to buy option, covering the mortgage and making some money on top. With a strong renters market at the moment, this could be a nice little earner for you.

Finally:
It’s better than saving! Interest rates on savings are quite low at the moment, and so you may benefit more in the long run by investing your savings in property than in the bank. Normally it would be the other way around, but with the banking issues at the moment, your money may actually be safer in property investment than bank investment.

Obviously before pursuing anything like this you should talk to the real estate experts, but it is definitely something worth thinking about if you have the spare capital or equity available.

***

Thanks Matthew - hopefully, this info will prove extremely helpful to our readers.

Have a Great Day, and Happy Rent-to-Owning !

Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

Real Estate Resolutions for 2011

Good Morning,


   Well, we have made it through another year! The last post of the last month of the last day of the year. It seems so final, but only until the door opens on the New Year, and it is a new beginning.

   In keeping with the "new beginning" mode, we thought this would be a great time to present some resolutions from our peers, and here are what a few of them have told us about their resolutions:

   Gregg Goldsholl, an agent with Houlihan Lawrence brokerage in Larchmont, New York: Price every listing for today's market - not what the seller wants to get, Work smarter not harder. Make sure buyers have financing before going out, Continue to provide killer client service, Do the things that lead to success. There are no shortcuts.

   Kelsey Lane, a Realtor with Keller Williams Realty Silicon Valley: I am getting my green designation through the National Association of Realtors - that is only part of the resolution though. The other part is that I am going to educate sellers, as I am helping them get their homes ready to sell, that we should be using as many green remodeling techniques as possible (for example, no VOC paint, light fixtures that accommodate CFL's attractively, SmartStrand carpet made from corn, etc.)

   Leonard Baron, a San Diego State University Professor and Real Estate Investor: Buy some more properties in 2011 - I bought 8 in 2009/2010. Interest rates are very low, housing prices are very low, vacancy is very low, so investment returns on properties are very high. Anyone who wants to do real estate for the long term, and you should NEVER buy real estate for the short term, should be out there learning, understanding, and then buying property.

   A lot of my own personal and business resolutions are closely related to those listed above. What are your resolutions for the New Year? Do you have any that differ from what was listed in this article? Please share with us here, as we would love to know.

Wishing You a Happy, Healthy, and a Prosperous New Year !

Have a Great Weekend, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

Rent vs. Buy, Rent to Own, and Eight-Years Strong...

Good Morning Everyone,

It's Wednesday, and we are half-way there !

Quite often, when a prospective buyer or a seller is evaluating whether they should Rent, Buy, or Rent to Own, they need to gather all of the applicable numbers and "crunch" them. If they start out by looking into Renting, they need to tally up the monthly payments, fees, insurance, and any applicable rate increases.

Likewise, for the possibility of buying a home, they have to take into account pricing, down payment, loan amount, interest rate, term, insurance, taxes, maintenance, and potential appreciation. On top of all of this, they need to figure it out over multiple different lengths of time, tax brackets, tax implications, as well as inflation rates. It can be daunting. There is quite a handy little tool over at Trulia, called the "Rent vs. Buy" Calculator, and this free automated program spits out some pretty helpful results. Head on over there and take a look at it today !

Now, based on the results that you come up with, you might lean towards renting a home (or renting out your home), buying a home (or selling your home), or you might chose the hybrid, which is Rent to Own. Whatever you decide, this tool will save you time and help you make your decision.

Since we are on the topic of Rent to Own, and receiving help in the decision-making process, be sure to check out this great article, titled, "Making Rent-to-Own Real Estate Deals Work", by Susan Kuchinskas at FamilyGoesStrong.com. This was a multi-part series of articles on Rent to Own & Lease Options, and this last article discusses some good tips and information.

We were honored to be included in this article as a long-standing resource for Rent to Own Home Listings (They referred to us as , "an eight-year-old online marketplace for rent-to-own deals"). This is an accolade that we are very proud of. We have been around for a long time, and we plan on being around as long as people need a roof over their heads !

Have a Great Week, and Happy Rent-to-Owning !