With the dismal reports on the rising Euro and British pound, many Americans are re-thinking their European vacation plans this year. While “Europe on $5 a Day” is indeed an ancient memory, these past few years have proved challenging for Americans looking to explore not only Europe’s rich treasure trove of art and history, but its contemporary and vibrant city life.

Friends returning from Europe will be quick to share tales of frightening expenses, from $40 ice creams for two in Venice to the $10 bottles of water in Greece. Every day Europeans are flocking to the U.S., almost gleefully taking advantage of the buying power of the Euro, snapping up designer bags and New York City condos alike. Does this mean that your dream European vacation is not an option this year?

Absolutely not. With careful research and planning, you can start packing for that trip to London, Estonia, Budapest, Sicily or Algarve. One way to make a European trip affordable is to consider a group tour or vacation packages. A group tour is usually an escorted tour with a host or leader with many inclusive features, from air and hotel, to meals and local tours. You can find some good deals and a key benefit is that all travel logistics are handled for you.

If you are averse to traveling en-masse -stuffy motor coach rides through European cities, anonymous florescent-lit rest stops and 6:00AM wake up calls -you can find other options that provide the savings that group travel offers, combined with flexibility to create your own itinerary. A number of hotel and airlines have joined forces to create vacation packages that may even include some meals and entertainment. Both tour and vacation package options take advantage of the supplier or operator’s buying power by pre-purchasing large blocks of hotel rooms, airline seats and other travel related amenities in advance.

Member-based travel clubs can be an especially good value as they also purchase large blocks of hotels and airline seats, but their overhead and marketing costs are relatively smaller than mass-market tour operations, thereby passing a larger savings to their members. A good club offers a variety of destinations ranging from fully escorted tours to independent travel options. These clubs usually require an annual membership fee, but if you can find a vacation package that meets your interests and offers great savings, it may be well worth the fee of about $50 or so per year. If you belong to a discount warehouse store, check out their member travel discounts.

How do you know if you found a good deal? While a price comparison is helpful, it is important to research thoroughly so that you make a fair comparison on what’s included and what’s not included. Make sure to also factor in value. Only you know what is most important on your vacation. You can go online and find out more information about many hotel location, ratings and amenities. Bear in mind that opinions on hotels, like restaurants, are very subjective, so it is worth reading examples of best and worst opinions so see where your tastes fit in.

Features to compare:

1. Airfare: Is airfare included? Is it from a convenient gateway or do you need to spend additional travel dollars to get there from your home? If air isn’t included, can you cash in your mileage points and avoid any blackout restrictions? This may be the year to cash in your airline miles to help offset at least a portion of your travel expenses. Many airlines offer good travel bargains through mid-spring, and sometimes even beyond. Competition for those seats will be fierce this year, so plan early.
2. Hotel: What level of accommodations would you be most comfortable in? If three stars are fine, you’ll find a good number of affordable packages. Bear in mind that hotel room sizes in most European hotels are considerably smaller. Location is also important. Is the hotel close to any of the things you want to visit or do in your destination? Weigh the time and cost of traveling from your hotel into the city center each day. Try to find out exactly how far or how easy it is to reach the city center if your hotel is located outside of the city limits.
3. Meals: While it is usually more cost-effective to have meals included, you may not like to be limited your hotel dining room.
4. Tours: If you are planning your own itinerary, you likely won’t be interested in any included tours, though some folks like to have an Introduction tour on the first day to acclimate to the city.
5. Hidden Fees - Pay attention to hidden fees like airport taxes, fuel surcharges and service fees. These can add up too.

The good news is that between special offers and well-priced vacation packages, you should be able to find a European vacation package deal that meets your needs and budget. But you’ll still have to spend once you get to Europe. Just be smart and go local. Stay away from international food chains like McDonalds and Starbucks. You can get the same at home for a lot less. Before you go, research the web for well-priced local eateries near your hotel. Save money by eating your main meal at lunch and a light supper in the evening. Go as local as language and location permits. Stop in a busy supermarket and pick up some interesting foods for a picnic lunch. Avoid costly soft drinks and stick with water or local wine and beer. Just don’t make yourself crazy. It’s no fun pinching pennies, or pence, on your vacation. Cut back on your souvenir shopping. Do you really need another colorful handicraft that will likely be relegated to the attic?

Nearly every European city has an official website with a slew of resources that can aid in your planning. You can get information and even pre-purchase public transportation passes, tickets to museums, attractions and performances. Take advantage of inexpensive or free activities posted on these tourist board websites. A number of governments have made away with museum entrance fees; mainly to encourage local visitors, but tourists can certainly take advantage. Most public museums in England are free and France is experimenting with free admission to 20 museums, including the Louvre and the Musee du Cluny, through June 30, 2008

Whether your hotel is in the city center or in the outskirts, you can find affordable public transportation in most cities, usually a type of transit card purchased in daily or weekly increments. For example, in London; you can purchase an Oyster card that enables you to ride the Tube, buses, trams and participating National Rail services. The pre-paid card automatically adds up the cost of ‘each pay as you go’ journey made that day. When the total cost reaches a pre-determined limit, a cap is applied and further journeys made in the same zones are free for the rest of the day. The ParisViste can be purchased in 1, 2, 3 or 5 day increments and can be used on Metros, buses, trams and suburban trains based on zone fares. You can even pre-purchase the card online and take advantage of the trains from the Charles de Gaulle International Airport in Zone 5 as soon as you arrive in Paris.

Be realistic, once you get to Europe, the local prices will be high. But if you’ve done your homework and selected a comprehensive vacation package with the inclusive features you desire for a successful vacation, limit your souvenir shopping and go “local” as much as possible, you’ll be just fine. Bon voyage!

Marie Patrick loves to travel and share her journeys. She purchases vacation packages and escorted tours for the best travel deals.

With the housing crunch creating a ripple of problems for the overall US housing sector, home developers in South Florida are finding it increasingly harder to sell homes, and are now seeking out alternatives to lower the price, and entice home buyers again.

An innovative housing initiative, the Mike Davis Community Workforce Housing Initiative pilot program, which was named after a former state legislator from Naples, has been in existence since 2006, and the funding, amounting to $62.4 million, is planned for use in funding housing projects in neighborhoods that are close to employers, services and transportation. This program is one of a few noted to help people in industries such as police, education and health care.

One Way To Make Housing More Affordable Is Through Granting Subsidies

According to housing industry professionals, the only way to make housing affordable for ordinary people is to get large subsidies. One noted area developer has been noted to have applied for $4.3 million from the state to subsidize a townhome and apartment development in the city of Fort Lauderdale. If that housing project gets approved for funding, the unnamed developer plans to use the funds to reduce prices off their 25, two- and three-bedroom town houses near downtown Fort Lauderdale by $100,000.

At present, market prices for the townhomes in this area have ranged from s $250,000 to $350,000. The Florida Housing Finance Corporation notes that applicants will know by July of this year, at the earliest, if their projects are approved for funding, although the state says that it’s quite too early to predict how many of the developments will get the money. The developer who applied for the assistance says that even though housing prices have come down, they haven’t come down enough yet.

In Miami-Dade, existing single-family home median prices went down by 15 percent in January from $395,900 the year before to $336,800, according to the Florida Association of Realtors. In Broward County, the median dropped 14 percent from $364,500 to $314,200. Miramar is banking on getting the funding so that it can make the price of its townhomes at its Town Center affordable. Lowell Homes in Miami has started selling the residential units in the Town Center — townhomes in the $300,000- to $400,000-range and condos from the mid-$200,000s — in spring 2007.

Why The Need For More Affordable Housing Grants

For businesses and state governments, the lack of affordable housing programs also creates a lot of pressure on hiring decisions, schools, taxes, suburban sprawl, congestion, pollution, emergency services and natural resources. And although every state has a housing finance agency, which is aimed at helping first-time home buyers, and many urban centers and some large businesses have housing assistance programs, the figures today show that a lot more needs to be done.

In a study of the largest metropolitan areas in the US, the most distressed and cash-strapped homeowners are located in California, Florida and New York City, as home prices here have risen and have been out of the budgets of many. In some metropolitan centers, at least half of the homeowners are spending up up 30% more of their monthly incomes just to pay for their homes.

Currently, housing projects in areas like Pembroke Pines, Miramar, Hollywood, Fort Lauderdale, Miami Beach, Coral Gables and North Miami are applying for funding, and of the 49 state projects that have applied, 19 are located in the Miami-Dade and Broward counties.

http://www.hometerra.com/home.php - Broward Real Estate

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All cats and kittens are compelled to scratch as part of their natural behavior. Scratching is beneficial because it allows them to shed the sheaths of their claws and to stretch. You must provide at least one good quality scratching post. If your cat does not have a scratching post to use, he may resort to scratching your furniture or cabinets. In a multiple cat household, each cat should have his own scratching post.

If you are a cat lover with a big heart, you may want to adopt every homeless cat in the animal shelter, but be realistic. You cannot take in every stray that comes along. So how many cats are too many? It depends on the size of your home and your budget. Each cat you adopt will need plenty of space in your house, his own litter box, food dishes, and annual veterinary care. Owning 3 cats is realistic, but owning 10 or 15 could quickly become unmanageable. Some cat owners like to start out with a pair of kittens. They can play together and grow up together, while others are content with one cat who becomes a devoted companion. However many cats you adopt, make sure that each one is given lots of love and the best care possible.

Your local pet supply store will have a variety of scratching posts from which to choose. Most are made from wood covered with carpeting. Some are made of sisal string, cardboard, or natural wood. When choosing one, make sure that it has a sturdy, side base so that your cat cannot knock it over when scratching. The post should be tall enough so that he can stand on his back feet, anchor in his front feet and claw away.

Place the post near the area in which your cat normally sleeps. They like to stretch and scratch after they wake up from a nap. If you have a large home, you may want to buy a few scratching posts and place them all over the house so that your feline companion always has one nearby.

This section will discuss a bit on kitty condos. A trip to the pet store will give you many ideas about the types, sizes, and styles of cat condos or perches available. Some condos are designed like playgrounds, with perches, ledges, hideaways, and toys to keep your cat entertained. Depending on your budget, you can buy carpeted condos that double as hideaways and scratching posts or towers with several levels that allow your cat to sit up high and survey his domain.

Instead of relying on metal ID tags, some owners use microchips to identify their pets. A veterinarian can inject a microchip directly into your cat or kitten. The chip does not harm him, and it can be inserted at about eight weeks of age. It is a permanent form of identification, and it cannot become lost or removed by the cat because it is placed under the muscle near the shoulder. If your pet gets lost and is turned into an animal rescue organization or shelter, the workers will scan him and use the special code on the chip to contact you. Whether you opt for micro chipping or the more traditional metal ID tags, remember to update your contact information if you move.

Keep an eye on the condition of the scratching post. If it becomes worn out or frayed, replace it with a new one.

To learn more about the different types of scratching posts for your dogs, cats, horse, etc., and how to get discount and cheap pet medications, make sure to visit http://www.callpetmeds.com where you will find everything on getting quality yet affordable pet medications as well as tips on how to take care of your pets like the experts.

The list of reasons why someone would want to sell their house or condo on Oahu, or any of the Hawaiian, islands is endless. It could be anything from relocation to the mainland, foreclosure, house downsizing, divorce or maybe it’s just an extra property collecting dust that you would like some cash for. Regardless of the reason, if you want to sell your house fast, this article is for you.

With the recent slow down in the market, it has become more of a challenge to get rid of unwanted houses and condos. In the past, you simply had to list it with a Realtor for market value and it would sell in days. Times have changed and this is no longer a reliable solution. It is not uncommon for homes to stay on the market for over a year before even receiving serious offers. What is the solution? In this article I will offer three.

One solution is to sell the home with seller financing. This means that you will play the role of the bank for some or all of the house sale. Instead of the buyer getting a loan from the bank, you become the bank and the buyers make payments to you with interest. When buyers can buy house without needing to go to the bank for a loan, they are more excited about that house and will be drawn to it. What if the buyers stop making the payment? Simple, you get the house back. You’re fully protected.

A second solution is to sell the house through an auction-like process. There are several real estate investment companies that can help you auction you property to the highest bidder. You set the reserve price and if the auction doesn’t raise enough money, you’re not obligated to sell the house and you can try something else. There are many who have found great success using this method.

A third method is to seek out professional house buyers. These are often investors who buy real estate for a living. They can often pay all cash for your house and can arrange all of the paperwork. Investors aren’t concerned with the picky little details that normal buyers are worried about. They don’t care if the faucets leak or if the windows are dirty. Investors are often flexible, easy to work with and can meet the needs of seller in unique situations.

Try out these three ways to sell your house and you may be surprised at how quickly you can sell your house or condo regardless of what the housing market is doing. Now, take control and go get ‘em!

Nate Burgoyne is a house buying specialist for Immediate Property Solutions, LLC. Based in Hawaii on the island of Oahu, Immediate Property Solutions has been buying houses and condos from folks like you since 2004. They are easy going and are always willing to help if they can. The specialize in buying real estate from sellers who need to sell quickly (ie. relocation, divorce, foreclosure, major repairs, etc.). They Guarantee you an offer within 48 hours after seeing your property. To see how Immediate Property Solutions can help you, visit http://www.cashyourhousetoday.com or call toll free 1-866-693-9725 for a 24 hr recorded message or to speak with a representative.

Immediate Property Solutions LLC
Toll Free: 1-866-693-9725 Web: http://www.cashyourhousetoday.com

If you want the chance to enjoy some of the finest vacation destinations in the world without going broke, then condo rentals may be the perfect option for you. Vacation condos come in a multitude of sizes and rental rates, providing options to fit every family size and budget. Most people discover that it is easy to find multiple condos that are perfect, yet rather difficult to choose just one for their vacation.

Think of a condo rental as your home away from home. A condo can range in size from a studio to three or four bedrooms. A timeshare condo usually features stereos, sleeper sofas in the living room, and full-to-king-sized beds in the bedrooms. The kitchens are usually equipped with all of the essential appliances, as well as every pot, pan, dish and piece of silverware that you would need to prepare and serve a meal.

While staying at the vacation condo, you will typically have access to a fitness center, swimming pools and/or spas, and laundry facilities; although some condos even have a laundry room within the unit. Some even offer children’s play areas or babysitting facilities for vacationing families. Many condos also offer at least one balcony with a spectacular view of the surrounding area.

There are multiple options for finding condo rentals for your vacation. If you would like to enjoy a timeshare resort without being a timeshare owner, then you can take advantage of their non-owner rentals. When condos are not reserved by owners, resorts will rent them to keep from losing money or having empty units.

Of course, you could also choose to become a timeshare condo owner and share ownership of the condo with others; therefore, you would share vacation time throughout the year. Finally, some condos are rented like hotel properties, with guests making reservations online or by telephone and then checking in at a main office.

Condo rentals are an excellent vacation option. For families, a vacation condo can provide a more home-like atmosphere, making it possible for parents to take children without needing multiple hotel rooms to have a moment of privacy. For couples, condos can be the ultimate indulgence, allowing you to indulge in candlelit dinners and a hot tub.

For college students, the ability to sleep several people allows them to split the rent, making spring break vacations more affordable. Condos are available in so many sizes and in so many destinations that everyone can find the perfect fit for their vacation needs.

Mike Selvon portal offers free articles on Timeshare. Find out more about condo rentals, and leave a comment at the timeshare resorts blog where a free gift awaits you.

Timeshare is an internationally accepted vacation arrangement that operates successfully through a network of standard holiday rentals. It is a “concept” that is traded in exchange of a charge that takes the form of a membership fee. People are given an ownership of a particular resort/holiday accommodation for a specific time period for every year of their membership. These membership prices vary depending upon booking period. Ownerships are offered for high, intermediate and low demand periods. Their booking period directly influences the price and exchange power of such deals. Florida timeshare deals are mostly ownerships of studio apartments, but there are also apartments with one or two bedrooms, condos and resorts available.

Timeshare vacations are considered to be a flexible concept and vacationers only need to make an application regarding their choice of destination when they decide to go on a vacation. Reservations are made according to availability of same sized lodgings at a different location. Florida is largely dependant upon tourism, which proves to be a major source of income for the state. Florida time-share deals are also available in the form of a resale. This allows potential customers to buy a membership at discounted rates from an existing member who chooses to discontinue their membership.

When compared to international Florida memberships that permit a person to visit different parts of the world, domestic timeshare deals are reasonably priced. This limits members’ vacation choices within the country but destinations are innumerable. Florida timeshare deals could revolve around fixed, rotating and floating membership weeks, which largely determine the time of vacation every year. Florid timeshare deals may be based upon a deeded or rights to ownership scheme. In the former owners have singular ownership all through their membership and in the latter the membership rights are transferred to the property owner at some point of the membership period. There are numerous Florida timeshare companies that offer such deals. It is advisable for potential customers to compare their options and make a judicious decision.

Florida Time Shares provides detailed information on Florida Time Shares, Florida Time Share Resales, Florida Time Share Promotions, Florida Keys Time Shares and more. Florida Time Shares is affiliated with Florida Real Estate Listings.

There might come a time that the urge of purchasing a new home might become unbearable to ignore, especially when your current residence is starting to get dull and boring for you and your family.

If you want to settle down in a new home in a new location, then you might want to consider purchasing one in Sarosata real estate. Assorted residential properties from single-family homes to luxurious condos are readily available for homebuyers in and out of the city.

Financial Lenders To Help You Out

There are certain instances, however, that the ideal home you picked out does not fit with your budget at all. Rather than postponing the home acquisition project for a few more years in order to save for it, you can apply for a mortgage loan to grant you the funding you need to acquire a quality family home as soon as you need one.

In truth, financial aids from these institutions are not for everyone to enjoy. These organizations are quite strict with their application requirements for an individual to be eligible for their help. It is advisable that you know these details in advance to avoid any problems with it later on.

Loan Requirements — Credit Score

Financial institutions will be checking out your credit score first to determine if you are eligible for their help or not. At the present, lenders in Sarasota require their clients to have at least a score of 720 to avail of the best deals they offer in home acquisition loans.

In truth, there are lenders in the city that offers their help to individuals with low or bad credit status, but the interest rates and payment schemes might be too high for them to afford. Good credit holders can enjoy the lowest interest rates and affordable payment schemes that will fit perfectly with their income for a home acquisition project.

Boosting Your Credit Score

You might want to give your credit score a boost if you fall below the recommended value. This is not easily achieved, however, but the benefit of improving your higher score will wash away all the effort you dish out for it.

First, you need to get a copy of your credit report from the three prominent credit agencies in the business, namely Experian, Transunion, and Equifax. Since financial lenders will disregard the highest and lowest score, and settle only on the middle value, then you might want to boost all three to give you the leverage you need for an affordable mortgage loan.

Check out your credit reports and give it a thorough check; dispute invalid transactions to your respective agencies to give your score a boost. You need to get into the habit of paying all your debts on time as well to get a good credit status for an easier mortgage loan application.

http://siestakeyrealestate.com –Sarasota Real Estate

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If this is the first time you have heard of a small town in Michigan called Alpena, you are not alone. It sits on the shore of Lake Huron’s Thunder Bay and is home to a little less than 12,000 residents. Its size does not take away from its appeal as a vacation destination. The town’s motto is “A Warm And Friendly Port” and even in fall it is not hard to see that Alpena lives up to its creed.

Fall in Alpena, Michigan can take your breath away in more ways than one and may make you think twice about small towns. Though an Alpena vacation getaway may not be at the top of your to-do list, you may be surprised with what this small Michigan town has to offer.

The Annual Great Lakes Lighthouse Festival

Alpena welcomes the changing of the seasons with several festivals and celebrations open to anyone who wishes to join in. The Annual Great Lakes Lighthouse Festival is an opportunity to celebrate and honor a symbol of the Great Lakes - its lighthouses. Visitors and residents alike come together for food, music, vendors and lighthouse tours during this four day event.

The best part is that the proceeds are used to preserve and restore these historic icons for future generations to enjoy. No fall in this great town would be complete without the Annual Fall Harvest Day. Not to worry, you won’t be asked to work in the field. However, you may have a favorite recipe you would like to try out in the pie contest–or maybe you just want to reap the benefits of the leftover entries. Other attractions include musical entertainment, activities for children and crafts demonstrations.

The Changing of the Leaves at Alpena

There is one particular reason that many travelers flock to the northern states in the fall: the changing of the leaves. The colors the leaves turn are unmatched by anything manmade and can truly only be created by the special touch of Mother Nature. Several routes are delineated in and around the town to experience the colors in the way you prefer, land, air or water. Drive around the entirety of Long Lake and Great Lake in a driving tour that begins and ends in Alpena and includes many interesting stops along the way.

Many of the amazing colors can be seen by boat on any one of the Great Lakes surrounding Michigan, as the cool, crisp air whispers serenely around you. Perhaps the best way to view all of the colors that Alpena, Michigan and its surroundings has to offer is by air. If you don’t have an aversion to heights, a helicopter view of the changing autumn leaves is a vision that will stay with you forever.

Steeped in History

Though Michigan puts on an amazing autumn exhibit, many attractions in Alpena can be experienced year round. If you are a history buff, you have come to the right place! Alpena offers tours of historic homes dating back to the early 20th and late 19th centuries that have been preserved and restored along Washington Avenue.

Perhaps the number one reason that travels opt for an Alpena vacation getaway is for the lighthouses. The Old Presque Isle Lighthouse, The New Presque Isle Lighthouse, The Alpena Light and many others have amazing stories behind them and deeply rooted in history. Visitors can spend hours touring many of the lighthouses in Alpena and the surrounding towns that sit on any of Michigan’s Great Lakes.

Whatever your reason for visiting the town this fall, take the opportunity to enjoy all that its history, residents and nature itself has to offer.

Cedric Agravante is a successful Webmaster and publisher of Vacation-Fun.com. He provides more resources on topics such as OuterBanks vacation rentals, beach front vacation homes and vacation condos in Florida that you can research on his website even while lounging in your living room.

The time has never been better for buying a home in Sarasota. The recent growth and expansion in the Sarasota real estate market has been presenting more opportunities to buy every day, especially to those who knows where to start and seek some professional help along the buying process.

One thing that one may want to mull over when intending to purchase a Sarasota home is finding a certified real estate professional that can give the much needed assistance and guidance along the process of buying. The real estate agent will provide a number of beneficial services to render Sarasota home buying experience a less stressful and much easier. Sarasota real estate professionals will offer you access to the most number of local listings, where the greatest number of available homes are listed for sale. The agent or broker you choose will also be able to contribute ideas that can help narrow the search to those Sarasota homes that best meet the budget and needs of the buyer. Furthermore, Sarasota real estate agents can also help when the time calls upon for price negotiations as well as closing the deal. A home is certainly a foremost investment and obtaining professional assistance would be a clever choice for anyone planning to buy one in the Sarasota real estate market, especially first time buyers as well as those who have been in the market for a while.

Acquiring information about the current Sarasota real estate home market is essential. Sarasota real estate home market has grown, along with most real estate markets across the country, and thus many fresh opportunities become available from time to time. Sarasota real estate agents can provide any information one might need about the conditions of the current trends Sarasota real estate market, including the projected future appreciation or depreciation of a particular home property one would be interested in, as well as the local school and employment statistics and characteristics of the local neighborhood. A Sarasota real estate professional can serve as a helpful information resource that Sarasota home buyers can employ to their advantage.

One should not only be considerably up to date about the Sarasota real estate home market, but also about the home itself. Valuable information may be acquired by doing a home inspection and seeking information about the history of the home and of the land. The findings that can be extracted out of such inspections can be vital pieces of information that can present an accurate estimate of the home’s true value thereby setting financing options that are appropriate for purchasing the home.

Whether one has a small or a large budget, finances comprise a major component of the home buying process. Before one is able to make any decisions regarding a Sarasota home purchase, one must ensure to have done a certain degree of planning with regards to the particular mode of paying for the home. Thus one needs to seek information regarding mortgages and home loans, and the most recommended information resource as well as decision guide would be a trusted financial advisor. One must be patient in giving sufficient time to look around for the best repayment options and interest rates. A sound financial planning can usually unburden such a stressful process.

Sarasota home buying can be a seamless yet minimally stressful process for someone equipped with the proper set of information and guidance. By taking advice from a trusted professional and effectively acquire as much information as possible about the Sarasota home buyers market, one would be sure to find the most appropriate home to purchase according to one’s needs and budget.

Earl Juanico

http://sarasota-realestate.biz

Precisely how does a buyer or seller know when a real estate market most favors buyers or sellers? No buyer wants to pay too much and no seller wants to leave money on the table by pricing too low. The answer is in knowing the market absorption rates.

Property absorption rates in any local real estate market are usually considered the best indicators of whether that market is a sellers’ market, a buyers’ market, or a neutral market. The market is the market and favors no one. But knowing the current real estate market cycle is essential for success as either a buyer or seller.

Sellers’ Market — Absorption Rates 1-4;

Neutral Market — Absorption Rates 5-6;

Buyers’ Market — Absorption Rates greater than 7

The easy-to-understand process of calculating absorption rates for local markets will be helpful to anyone trying to figure out the current real estate cycle and how to formulate a winning buying or selling strategy.

For instance, assume there are currently 100 Single Family Home Lots for sale in a large, single family home community. Of these, 70 are priced at, or below, $45,000. Last month, assume that 5 lots sold for $45,000 or less. The absorption rate would then be 70 divided by 5 , or 14.0. An absorption rate of 14.0 indicates a strong buyer’s market and, that in an unchanged market, it will take 14 months to sell all the hypothetical 70 existing lots listed at or below $45,000.

This basic analysis can be used with most of property types including building lots, homes, condominiums, or even commercial properties. There must, however, be a high enough number of actual transactions to permit statistical analysis. The fewer the actual number of transactions the less statistically significant will be the results. Also, remember that within very broad but weak markets, narrow market segments may be showing non-typical strength.

Market absorption is a very useful tool for anyone trying to best determine how to price their property and what the current market says is a reasonable time period for a sale to be concluded. The absorption rate analysis also helps buyers in that in a buyer’s market a low purchase offer is often a winning strategy.

E. Lee Reid is a real estate, construction, hospitality, and travel and leisure expert. He and his companies have successfully built and/or managed thousands of vacation resort condos and homes at multiple resorts in North Carolina and Florida. In recent years he converted several hotels to condo hotels in the Disney World area of Central Florida. He is a widely quoted author and speaker. Reid holds a Master of Business Administration from the University of Memphis and is completing in late 2007 a Master in Hospitality Management program through Cornell University. Reid is a real estate developer, certified General Contractor, Realtor, and Certified Commercial Investment Member (CCIM) candidate. His book, “Marketing Made Easy!” was published by the National Association of Home Builders. Visit with Lee at http://www.eleereid.com