Will You Add? - Real Estate

Exploring The Paths of Nursing
Nurse professionals are needed in almost every city in America. As a nurse, you get the opportunity to improve lives, to teach people how to achieve a healthier life style and also ensure patients that they have the best health care available to them.Advancing in your nursing career. There are 4 paths that can help you advance quickly in your nursing career.-(NPs) nurse practitioners average full-time salary $69,000 a year.-(CRNAs) certified registered nurse anesthetists average full-time salary $113,00 a year.-(CNMs) certified nurse-midwives average full-time salary $60,000 - $90,000 a year.-(CNSes) clinical nurse specialists average full-time salary 51,000 a year.All will require further schooling and experience but In the end you will proudly have your masters and state certifications. Salary normally is based on demand and location. NPs find themselves on the frontline conducting physicals, making diagnoses and providing treatment CRNAs work in all settings, from hospitals to private offices. They have to be one of the more educated nurse professionals.CNMs provide prenatal and gynecological care to women, delivering babies and providing postpartum care. CNSes are clinicians specializing in a specific areas of diseases, population or setting.Sub-Fields of Nursing ProfessionalsTelephone-triage nursing. TTN is a subfield for nursing allowing you too support advice and consult patience over the phone. They help determine what type of care may be needed. They refer patients to a healthcare provider instead of clinics or emergency rooms, they help patients reduce unnecessary visits. Forensic nursing also a sub-field of nursing professionals it's a fast growing and encompassing field. Forensic nursing allows you to become Clinical Nurse Specialist, Forensic Nurse

have experienced gentrification, but other areas are marked by poorly maintained properties. Both the market rent projects and the subsidized rent projects are located in the area south of downtown Houston, bound by 288 to the west, Interstate-45 to the east, and Almeda-Genoa to the south. Consider the following tables which list rental rates for projects which do not participate in a subsidy program (market rent projects) and projects which do participate in a subsidized rent program:

Sources at the Houston HUD office indicate that expiring contracts for subsidized properties are being reviewed - if the owner so desires - for only one year. After that term, it is uncertain which course the plan will take. Indications that are subsidized programs are changing from the current contract rent method to a resident voucher program. The voucher method would involve issuing certificates to individuals who may then use the voucher at any participating property. The voucher amount would be based on individual's income. In addition to the plan to phase out above-market subsidized rents, another reason not to use contract rent when valuing subsidized housing is it is inconsistent with national public policy to penalize apartment operators participating in this program since the difference between market rent and contract rent is compensation for participating in the program and working with the low-income residents. It would also be inconsistent with practice in Texas to use contract rent instead of market rent when performing the income approach to value.

The three reasons contract rent should not be used in valuation are: it may include compensation for participation in the program and may not be equal to market rent, current plans are to eliminate the program and, it is inconsistent with national public policy Another factor to consider when performing the income approach is the market occupancy. Since tenants at the subsidized housing projects do not pay their rent or pay very minimal rent, t

Four Reasons to Set Group Goals Collaboratively
One of the tasks that come with being a leader is setting goals. Goals for ourselves, to be sure, but often we need set goals for our groups/teams or the larger organization. While we may instinctively know that we should include people in the creation of goals they will be working to achieve, too often the press of time and the lure of expediency leaves leaders setting the goals, and simply sharing them with those charged with achieving them.The Four ReasonsThere are four significant reasons why we need to get others involved in creating of the group’s goals. Any one of these are reason enough to create a conversation about the goals rather than creating a PowerPoint presentation with the goals already formulated.• To gain Agreement. There are actually two agreements you want to gain.1. Agreement on what the goal actually is.2. Agreement that the goal is worthwhile and beneficial.Once you have these agreements you will increase the clarity of the goal for everyone. Goal clarity in itself has a very positive impact on ultimate goal achievement. With agreement you will increase focus on the goal as well. Take the time to create both of these agreements and you have a stronger chance of achieving the next item . . .• To create Engagement. Notice I said engagement not buy-in. I know we all talk about wanting people to “buy-in” to our ideas and plans. And, given the choice between having people who are “bought-in” vs. people who didn’t care or disagree, I choose the former. But engagement is more than “buy-in.” When people are engaged in an idea they are committed to it. They feel ownership for it. They have thrown more than their hat into the ring, they have thrown their heart in too. Once people are engaged in the goal you can capture w

The purpose of this article is to analyze valuation methodology for several atypical types of apartments. Various circumstances and situations can cause an apartment complex to have above-or below-market rental rates, occupancy rates and operating expenses. This analysis examines the following two situations: low-income subsidized apartments, which receive above-market rental rates from HUD or another government agency, and projects that are part of the Low Income Housing Tax Credit (LIHTC) program.

The LIHTC program was established by the U.S. Congress to encourage development of affordable housing in economically disadvantaged areas. Project developers receive a tax credit for following the guidelines established by the program. They typically sell these credits to Fortune 500 corporations for 45 percent to 60 percent of the total project cost, excluding land.

The first step in the valuation process is analyzing market value definitions. The following is the definition from the Texas Property Tax Code, Section 1.04 (7): market value means the price at which a property would transfer for cash or its equivalent under prevailing market conditions if: exposed for sale in the open market with a reasonable time for the seller to find a purchaser, both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions to its use, and both the seller and the purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other.

Section (b) of the Texas Property Tax Code further requires: the market value of property shall be determined by the application of generally accepted appraisal techniques, and the same or similar appraisal techniques shall be used in appraising the same or similar kinds of property. However, each property shall be appraised based upon the individual characteristics that affect the property's market value.

The definition of market value, according to the 10th edition of The Appraisal of Real Estate published in 1992 by the Appraisal Institute, is: market value is the most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress.

The term which requires further review in the above definition is "knowledgeably." Is the purchaser knowledgeable regarding the effort required to comply with subsidized housing program requirements and tenants? Does he consider the effort to be rent for real estate or compensation for services? Does the purchaser of an LIHTC project understand that maximum rents are now established for at least 15 years based on deed restrictions? (LIHTC deed restrictions are now required for 30 years in Texas and most other states.)

Fee simple estate is defined in the third edition of the Dictionary of Real Estate Appraisal published by the Appraisal Institute as: absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power and escheat.

The practice in Texas is to base the assessed value on the value of the fee simple estate as opposed to the leased fee estate. This analysis is based on valuation of the fee simple estate instead of the leased fee estate.

The definition of leased fee estate in the third edition of the Dictionary of Real Estate Appraisal is: an ownership interest held by a landlord with the rights of use and occupancy conveyed by lease to others. The rights of the lessor (the leased fee owner) and the lessee are specified by contract terms contained within the lease.

The primary difference between the fee simple estate and the leased fee estate is that the tenant and landlord are each bound by commitments to pay rent and allow use of the property for a term. The contract rent agreed to between landlord and tenant may or may not be equal to market rent. For example, if a landlord entered into a 30-year lease for rent of $5 per square foot 15 years ago (when market rent was $5 per square foot) and the current market rent is $10 per square foot, the tenant has a substantial advantage. The tenant has a leasehold estate which may or may not have value depending on the term of the lease, the contract rent and market rent.

The Dictionary of Real Estate Appraisal defines leasehold estate as the interest held by the lessee (the tenant or renter) through a lease conveying the rights of use and occupancy for a stated term under certain conditions.

Conversely, if the tenant agreed to a rental rate of $15 per square foot in a strong market 10 years ago, and is committed to pay that rent for another 10 years, there is a substantial advantage to the landlord, and the tenant has a leasehold estate with a negative value. Practice in Texas is to establish the assessed value based on the fee simple estate instead of the leased fee estate. Therefore, the relevant criteria for determining market value includes market rent, market expenses, market occupancy and market derived capitalization rates. If a taxpayer made a poor business decision 10 years ago and has substantially below-market rent, it is inequitable for the taxing entities to reduce their ad valorem tax due to the bad business decision of the property owner. Conversely, if a property owner made a fortuitous or wise business decision and entered into an above-market lease, it is not appropriate to collect an above-average level of ad valorem tax from him because of his luck or prudence.

Market rent is defined by the third edition of the Dictionary of Real Estate Appraisal as: the rental income that a property would most probably command in the open market; indicated by current rents paid and asked for comparable space as of the date of appraisal.

Market rent is the compensation paid for the use of the real estate. It should not include compensation paid for factors other than the use of the real estate such as additional services which are not typically provided.

The next step in this process is to analyze valuation of properties which participate in subsidized programs which receive above-market rental rates. The final section will address valuation of projects in the LIHTC program.

Valuation of Subsidized Housing

This analysis will consider both the income and the sales comparison approaches to value. The cost approach is not utilized since it would provide similar results after calculating external obsolescence due to differences in rental rates.

Income Approach:

Apartment owners who participate in subsidized housing programs may or may not receive above-market rental rates. For many years, HUD offered above-market rental rates as an inducement to property owners to participate in the program. There are two reasons for HUD paying an above-market rental rate: to compensate for the inconvenience of dealing with a bureaucratic government program which mandates detailed inspections not typically required in the private market; and to compensate for working with residents who tend to be at the lowest socioeconomic level in our society.

It has not been unusual for HUD to pay contract rent of $0.70 to $0.80 per square foot per month for subsidized housing projects, even though the market rent for competing projects might only be $0.45 to $ 0.50 per square foot per month. The rent and sales comparables used in this analysis are located in a neighborhood characterized by income levels in the bottom quartile of the Houston area, minimal new construction of residential or commercial buildings for 25 years and heterogeneous levels of quality and appeal. Some sections, such as Riverside, have experienced gentrification, but other areas are marked by poorly maintained properties. Both the market rent projects and the subsidized rent projects are located in the area south of downtown Houston, bound by 288 to the west, Interstate-45 to the east, and Almeda-Genoa to the south. Consider the following tables which list rental rates for projects which do not participate in a subsidy program (market rent projects) and projects which do participate in a subsidized rent program:

How To Choose Your Home Equity Line Of Credit Loan
When it comes to getting the equity out of your home, one of the best tools available may be the home equity line of credit (HELOC). While not for everybody, it can provide you with the equity in your home, access to cash, and a way to choose how much money you use. Not every HELOC plan, however, is equal. Here are some things to look for when you start looking for your mortgage.Home equity loans are a great way to take advantage of the equity in your home. Since you are not paying interest on all of the money – only on what you use, it creates a handy way to use the equity - when and if you need it. During the draw period, you have free access to the money.Before you sign the agreement for a HELOC, however, you need to know that it is basically a second mortgage. This means that it will add another payment each month and you need to know in advance how much it will be. You should be able to comfortably make the payment without it being difficult or creating too much of a financial strain.As a second mortgage, you will also have various closing costs and other fees added when you sign for the loan. Among these, you will also usually find an appraisal fee, a surveyor's fee, originator fees, and more. Some of these may be waived, but you will need to know what each of the fees is for. Some lenders are now charging few fees – but you may need to look around.Monthly and annual fees may also apply - depending on the particular lender. You need to look carefully at each of the fees to make sure you understand exactly what each fee is for.The interest is also another thing that you should pay close attention to. Home equity lines of credit are most often adjustable rate mortgages which means that the payments are flexible and will frequently change. Find out how often the interest rate is c

Valuation of Subsidized Housing

Income Approach:

All You Need To Know About Low Rate Unsecured Loans
You may think that you will have to pay higher interest rate in case you avail unsecured loans. Such kind of doubts is very natural, as unsecured loans are offered in absence of any security. But it does not signify that the possibility of low rate unsecured loans is nil. You can avail unsecured loans at a lower rate. But in that case, you have to take some initiatives. Let’s discuss how one can get unsecured loans without spending much.In loan market, you will get to see abundance of assurances of loan lenders. All say, with us you can get unsecured loans at a surprising interest rate. But the inside story is different. Most of the time, it is seen that these loans are available not at all cheap rate. So, be aware of the lure of those lenders. But take initiatives on your own.Having good credit score is a positive sight incase of low rate unsecured loans. So, first make sure what your credit score is. In this regard, you can make your job easier by taking help of various credit rating agencies like Equifax, Experian, and Transunion. If your credit score is good, availing unsecured loans at a lower interest rate won’t be tough for you.Choice of lender does matter in case of availing unsecured loan at a low rate. It is seen that borrowers generally meet one or two lenders before availing a loan. Sometimes, many borrowers prefer to take loans from traditional lenders only. In such cases, the possibility of getting low rate unsecured loans is very less.In order to get a low rate unsecured loan, one has to shop for the best deal. Do not confine your choice in one or two lenders only, but look around for other lenders as well. Meet various lenders, banks, financial companies personally, ask for their loan quotes, compare them carefully and then choose the appropriate one. Studying various loan

ween the fee simple estate and the leased fee estate is that the tenant and landlord are each bound by commitments to pay rent and allow use of the property for a term. The contract rent agreed to between landlord and tenant may or may not be equal to market rent. For example, if a landlord entered into a 30-year lease for rent of $5 per square foot 15 years ago (when market rent was $5 per square foot) and the current market rent is $10 per square foot, the tenant has a substantial advantage. The tenant has a leasehold estate which may or may not have value depending on the term of the lease, the contract rent and market rent.

Valuation of Subsidized Housing

Income Approach:

Effective Professional Branding – The Transition From What You Know to Who You Are
"Building professional branding which communicates that you are x with y years of experience in industry Z and that you know to do A,B,C.D and have knowledge in E ,F , G is boring and won’t bring you career and business success".Building professional branding is essential for one’s career and business success. Tom Peters talked about professional branding almost ten years ago. However, economic changes, globalization, new technologies, job market trends, and outsourcing have changed the meaning of the concept and it’s implementation. How can you brand yourself to be successful in the current markets? What changes do you have to make in order to establish effective professional branding which will demonstrate your career and business success?The evolution of the professional branding concept. Tom Peters wrote “ Big companies understand the importance of brands. Today in the age of the individual you have to be your own brand. You are the CEO of Me Inc. You have to be a brand like Nike, General Motors, Dell or Microsoft. Instead of being your job title or job description or your resume, you must be a professional brand. When you are a brand you are recognized for who you are”. Examples of people who are a brand are Michel Jordon , Tiger Woods & Oprah Winfrey and others. What are the components of professional branding?A brand :Communicates distinctive traits and qualities. Is easy to remember & to be recognized. Earns the respect and the trust of others. Creates a value to your clients. Builds a competitive advantage among others. Influences others.Branding transition from the marketing model to the experimental model . The traditional concept of branding was based on marketin

command in the open market; indicated by current rents paid and asked for comparable space as of the date of appraisal.

Valuation of Subsidized Housing

Income Approach:

Roles, Power And Uniform
The pictures that shocked the world will still be in many people’s minds when the name Abu Ghraib is forgotten. The scenes of Iraqi prisoners and their American custodians made front pages and prime time everywhere. The sense of disgust was universal, but apart from this there was a varied spectrum of reactions. There were the politico-military questions. How on earth could this happen? Were the perpetrators just a few bad apples? How far up the chain of command did it go? There was the socio-political question: to what extent can this type of thing be justified? And there was the plain, ‘normal citizen’ question: how on earth can human beings do this to one another?Now the blame has gone in several directions, the buck has stopped somewhere, so we are told, and the whole thing will soon more or less evaporate into history. American writer Gore Vidal reacted to the events of 9/11 with a sharp, cynical and otherwise politically incorrect comment: “It will be all over by the Christmas sales.” It didn’t quite happen like that, but he wanted to make the point of just how fragile our collective memory is. The Abu Ghraib saga, I suspect, will be contained one way or another, and soon consigned to the black book of black history. Period.Among the thousands of articles and references relating to Abu Ghraib there was an unpretentious, not terribly prominent and matter-of-fact column published in 'The New York Times', which revealed that - at least for a tiny sector of the population - these events were no surprise whatsoever. Anybody with a degree in Social Psychology would have said: “Aha! This is Milgram and Zimbardo revisited.” These were the authors of some old psychological experiments that have since been repeated several times. The article mentioned the studies and sought the opinion of peopl

Sales Comparison Approach:

The sales comparison approach analysis further demonstrates the typical market values in this submarket. We have utilized information on comparable sales both from our internal database and from the Harris County Appraisal District database. Most sales within the submarket are listed:

Valuation of LIHTC Projects

The key difference between Low Income Housing Tax Credit project (LIHTC) and a market rent project is that the LIHTC project has deed restrictions which limit the maximum rent that can be charged. The restrictions also limit the maximum income of the residents. The Oregon Supreme Court ruled that the assessed value for LIHTC projects should be less than the assessed value for market rent projects since the rent at LIHTC projects is less than market rent, and the rents restrict the market. In Texas and most other states, the LIHTC project is limited by a 30-year deed restriction which runs with the land. In other words, it may not be revoked unilaterally by the property owner even if the property is sold or foreclosed. In exchange for these onerous restrictions, the LIHTC property owner receives a generous tax credit allowance from the U.S. government. Developers typically sell the tax credits for approximately 45 percent to 60 percent of the project development cost.

The primary difference between LIHTC projects and market rent projects is the rental rate. Operating expenses will be similar in either case, but the LIHTC project will likely have higher occupancy due to its below-market rents. Section (b) of the definition of market rent in the Texas Property Tax Code is as follows: both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use.

The LIHTC projects are located in targeted areas established by the federal government which have below-average income levels.

Income Approach:

The following are three income analyses of hypothetical 200-unit apartment complexes which each has 160,000 net rentable square feet. Contract rent is estimated to be $0.62 per square foot at the LIHTC project based on what is typical in the Houston area. (Our firm prepares approximately 20 market studies for LIHTC projects each year.) Market rent at new complexes in the Houston area is typically $0.80 to $1.10 per square foot per month. For the purposes of this analysis, market rent for new complexes is estimated to be $0.85 per square foot. Market occupancy is estimated to be 96 percent for the LIHTC project due to the below-market rents and 92 percent for the market project. Operating expenses may be slightly higher at the LIHTC project to account for accounting and communication with government agencies because of the LIHTC requirements, but this amount is expected to be offset by the lower ad valorem taxes. The analysis shows three income approaches. In addition to the LIHTC and upscale market rent projects, a mid-range project with rental rates roughly between the others is included for comparison purposes. A 10 percent capitalization rate for the LIHTC project has been included based on its below-market rents, which appear to make the income stream more stable. An 11 percent capitalization rate is used for the mid-range project since its rental rates would be far above market for the area. The capitalization rate for the upscale market rent project is 9.5 percent based on data in our files.

It appears clear that using market rent in the valuation of an LIHTC project would produce an appropriate result. Further, it appears the capitalization rate used in valuation of the LIHTC project using contract rents would overstate the values based on comparable sales. While investors would appreciate the stable income stream due to the below-market rents, few investors would want to pay $25,000 per unit for an apartment complex in an area where most complexes sell for $5,000 to $15,000 per unit.

Valuations of real property with above- and below-market rental rates offer challenges to property owners and assessment officers. There will likely be legitimate differences of opinion for the foreseeable future. Using the sales comparison and income approaches to value indicates a wide range of value. Thoughtful consideration and negotiation will be required to form a consensus on these issues.

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10 common sense tips to help you do your homework when evaluating buying your own franchise.

Great offline mainstream media exposure is an excellent way to drive traffic to a website, and using Capture the Conversation methods such as newsletter sign ups, online surveys, blogs, and webinars can engage those visitors to enter the conversation with you, rather than coming to stale corporate speak site and leaving without taking any action. The problem is most PR agencies don't have the skills necessary to Capture the online Conversation, resulting in what we call The Placement Crash.

There is a very close relationship between writing an article and building an opt-in list.

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