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Tuesday, November 27, 2012

Economist: 2013 Another Year of Transition For Real Estate.

Commercial real estate will have to endure another year of transition in 2013, as debates over the fiscal cliff and other key U.S. policies loom, an economist said today.

In a speech before executives gathered in Buckhead Tuesday, CBRE Inc. economist Asieh Mansour said companies are waiting for more clarity over fiscal and monetary policy, and for greater momentum in the recovery of the global economy. Most are probably going to be constrained next year and look instead at their growth strategies for 2014. Amid so much uncertainty, the outlook for job growth remains tepid, Mansour said.

Her comments came during commercial real estate giant CBRE Inc.’s market forecast. While the outlook wasn’t dominated by the gloom of similar predictions in recent years, the commercial real estate recovery remains slow and more isolated to certain types of properties, such as multifamily, and to cities such as New York, San Francisco and Houston.

Commercial real estate year of transition in 2013,fiscal cliff and key U.S. policies - Boise Commercial Real Estate
(Photo credit: mrshife)
Atlanta’s rebound has lagged those cities. Its recovery has also been hindered by only moderate growth in the global economy, a trend expected to continue next year. The capital markets are especially vulnerable the global economic slowdown. “In Atlanta you are not immune to what is happening in the global markets,” Mansour said.

The effects of U.S. fiscal and monetary policy drew a lot of attention. Nationally, companies remain less likely to ramp up hiring until there’s a political resolution of the more than $500 billion in tax increases and spending cuts that would take effect Jan. 1, a process referred to as the fiscal cliff. Earlier this month, the Congressional Budget Office said the fiscal cliff could trigger a recession.

There are indications Congress may take action later this month to extend the Jan. 1 deadline, Mansour said. More uncertainty surrounds how the Affordable Healthcare Act and the provisions of Dodd-Frank will impact business decisions. “Policy is dominating implications for [Commercial Real Estate],” she said.

There was some room for optimism.

While business remains cautious, U.S. consumers are regaining confidence in the economy, Mansour said.

Multifamily properties have gained momentum, and so have warehouse and distribution centers.

Central business districts with healthy tech sectors have performed well, she said.

By Douglas Sams Commercial Real Estate Editor- Atlanta Business Chronicle

Taken from: http://www.bizjournals.com/atlanta/real_talk/2012/11/economist-2013-another-year-of.html

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Monday, November 26, 2012

REITs Boom As More Industries Discover This Tax-Friendly Structure

Income investors should take a moment to thank President Dwight D. Eisenhower. It was Ike who signed into law the Cigar Excise Tax Extension of 1960, which included an amendment that gave small investors a chance to directly participate in the returns generated by diversified portfolios of income-producing real estate. Up until then investing in things like hotels and apartment buildings was strictly a big money institutional game.

The law mandated that real estate investment trusts pay out no less than 90% of their income to their investors as taxable dividends. REITs in turn got to exempt that income from corporate taxes. Today there are 129 equity REITs representing a combined market cap of more than $500 billion.

It’s been a great source of income and total return for investors for decades. Over the last ten years the Dow Jones U.S. Real Estate Index (IYR), comprised almost exclusively of REITs, has beaten the S&P 500 return by 80%. Since the depths of the financial crisis in early 2009 REITs have returned more than 220%.

expanding Real Estate Investment Trusts industry is great news for yield-hungry investors - Residential Property Goa | Sapana Greens Ville Axiom Estates
(Photo credit: nancyarora2020)
Now, 50 years after REITs’ inception, the industry is buzzing again. A generation of boomers craves income, and more and more companies have become wise to tax and other advantages of the REIT structure. Everyone wants to get in on the REIT bonanza, as operating businesses from cellphone towers to timber companies, billboard firms and private prisons are converting to REITs.

Initially the REIT approach to real estate investment, as established by Congress, contemplated land and the improvements on it. At least 75% of REIT income needed to be derived from real estate, typically in the form of rent. But lately that definition of “rent” has become as loose as getting paid to store, manage and retrieve documents, as pending REIT convert Iron Mountain argues.

Here is how Iron Mountain rationalizes its reawakening as a REIT. “The foundation of Iron Mountain’s business is renting space to enterprises for the storage of their physical records. … Storage rental is the primary driver of our revenues, profits and cash flows. As such, we operate a substantial real estate network comprising more than 64 million square feet across nearly 1,000 storage facilities.”

Since Iron Mountain announced its intention to become a realty trust in early June, its stock has appreciated 38%, quintupling the total return of the S&P 500. Assuming the IRS approves Iron Mountain’s application, it should be a full-fledged REIT by January 2014.

Lumber company Weyerhaeuser became a REIT in 2010. Since its conversion its total return, comprising stock appreciation and dividends, has far exceeded close competitors and the market.

Recent IRS rulings, including one issued in October 2011, have potentially opened the door for billboard REITs. The rulings found that billboards and sign superstructure are real property even if the signs are just bolted to a building.

Suddenly Lamar Advertising, one of the largest outdoor advertising firms, has announced plans to pursue REIT status. Never mind any notion that Lamar’s core competency was providing advertising solutions. Real estate pays better dividends. “We believe the REIT structure would be a natural fit for us. At the core we provide real estate and real-estate-related services to advertisers,” says Chief Executive Sean Reilly.

Data center companies Equinix and Cincinnati Bell-owned CyrusOne have also said they are exploring REIT status. They would join three existing data center REITs: Digital Realty Trust, ?DuPont Fabros Technology and ?CoreSite Realty, expanding this industry segment, which provides storage space for the growing Internet cloud.

Soon prison owners like Corrections Corp. of America may go REIT, as will energy-related property owners, owners of sports venues and solar farms.

The expanding REIT industry is great news for yield-hungry investors because it gives them a chance to create a diversified portfolio of income generators from nearly every sector of the economy. In the case of solar energy, for example, REITs may actually represent a smarter way to play the sector.

Tom Konrad, editor at AltEnergyStocks.com, explains, “Currently the only way a small investor can invest in solar is by buying stock in solar manufacturers.” He argues that fierce competition makes solar manufacturers a bad investment.

Indeed, since its inception in April 2008 Guggenheim’s Solar ETF (TAN) has fallen 94%, while solar installations have grown sixfold and costs have plummeted.

Adds Konrad, “While falling costs destroy manufacturer margins, they improve the opportunities for solar farms.”

So far the IRS has not ruled on whether solar farms would qualify as REITs. That hasn’t kept California industrial REIT Prologis from entering the business. IRS rules allow REITs to generate up to 25% of their income from sources other than real property, and this would allow some solar on REIT-owned buildings.

Prologis plans to equip 10% of its 600 million square feet of industrial roof space with solar photovoltaic panels. Andrew Duffy, portfolio manager with Ascent Investment Advisors, warns against being blinded by REIT dividends. Says Duffy, “Focus on whether you like the company’s business for the long term. At the end of the day, qualifying as a REIT isn’t going to magically transform a weak business model into a strong one.”

Jens Nordvig, Nomura Securities

BUY The Mexican peso (MXN). Mexico has weathered the economic storm well. Its GDP is expected to grow about 3.5% in 2013, with unemployment falling and consumer confidence rising. Oil, a burgeoning middle class and a recovering manufacturing sector are making it a prime destination for foreign capital.

SELL Japanese yen (JPY). Beware this safe-haven currency trap. Forex strategist Nordvig thinks the yen short will be 2013′s big trade. While the world’s third- largest economy lingers in stagnation, consistently on the verge of deflation, its currency sees inflows. Expect Japan‘s trade deficit to balloon.

By Brad Thomas

Taken from: http://www.forbes.com/sites/bradthomas/2012/11/26/reits-boom-as-more-industries-discover-this-tax-friendly-structure

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Tuesday, November 20, 2012

Hundreds Of Luxury Homes In France Are Flooding The Market Ahead Of Tax Changes

Just like the impending capital gains tax has wealthy homeowners scrambling to sell in the U.S., luxury property owners in France are also trying to ditch their properties before tax changes in the country's 2013 budget go into effect.

In the past eight months, more than 400 properties worth $12.7 million or more have hit the market, according to Jean Rafferty of The New York Times.

Jean Rafferty of The Times writes:

high-end French real estate flooding the market - Paris View of Avenue des Champs-Élysées
 (Photo credit: wallyg)
Quite a few of France’s most wealthy already have moved abroad to avoid the country’s stiff inheritance and wealth taxes.

Now, real estate agents say, the younger, working wealthy also are on the move, unhappy at the prospect of being taxed at 75 percent on income of more than €1 million, or $1.27 million, and a capital gains tax of more than 60 percent on stocks, bonds and company sales, although protests have produced exceptions for investors and new business start ups.

Charles-Marie Gottras, president of Daniel Féau, a high-end French real estate broker, told The New York Times that the type of luxury properties that once appeared once every six months or a year were now landing on the market once a week.

And with so many luxury properties for sale, buyers know they can negotiate the price, which is leading to a 3 to 5 percent decline in the homes' actual values.

Sotheby’s International Realty France said that in the past six weeks it had sold three properties for more than $25.5 million.

By Meredith Galante

Taken from: http://www.businessinsider.com/flux-of-high-end-real-estate-in-france-2012-11
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Sunday, November 18, 2012

New Palm Springs Area Golf & Country Club Real Estate Map Proves Helpful to Home Buyers

Sheri Dettman, Principal Realtor of Sheri Dettman & Associates in La Quinta announced today the release of a unique new full-color Palm Springs Real Estate map showing the locations of 30 popular golf and country club communities in the Coachella Valley. The map also includes Palm Springs area points of interest, shopping opportunities, hotels, resorts and more.

(PRWEB) October 24, 2012

People interested in Palm Springs Real Estate have a new tool to help them get to know the numerous Palm Springs area golf and country club communities. Palm Springs area Realtors, Sheri Dettman & Associates developed the new map at the request of home buyers new to the Coachella Valley.

The new Palm Springs Real Estate map includes 30 popular golf and country communities from Palm Springs in the western end of the Coachella Valley eastward to Indio and the desert cities in between including Palm Desert, Rancho Mirage, Indian Wells, La Quinta and Bermuda Dunes.

Coachella Valley Savings and Loan buildings 3, Palm Spring, California
Coachella Valley Savings & Loan # 3, Palm Springs, CA (Photo credit: Xavier de Jauréguiberry)
Palm Springs area visitors interested in desert real estate can utilize the map to explore Palm Springs area real estate locations and of course find their way around the desert. The new map is available in both hi and low-resolution PDF’s online via the Sheri Dettman & Associates real estate website.

Visitors can choose to store PDF versions of the Palm Springs Real Estate map on their iPads or smart phones. An 11x17 color printed map is also available at no charge from the Sheri Dettman & Associates offices in La Quinta located in the Luxury Homes by Keller Williams Realty offices at 50981 Washington Street in La Quinta.

Some of the popular golf communities featured on the Palm Springs Real Estate map include Andalusia at Coral Mountain in La Quinta, Bighorn Golf Club Palm Desert, The Hideaway Golf Club and Madison Club both in La Quinta, Toscana Country Club Indian Wells and Rancho La Quinta Country Club.

About Sheri Dettman & Associates
Sheri Dettman & Associates is associated with Luxury Homes by Keller Williams International, the second largest residential realty company in North America. Sheri completed 74 sales transactions in 2011 in golf and country club communities throughout the Palm Springs area and in all price segments. Additional information about Palm Springs area real estate can be found at: http://www.YourResortHome.com

Taken from: http://www.prweb.com/releases/2012/10/prweb10042798.htm

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Thursday, November 15, 2012

What Is A Cap Rate And How To Use It When Investing?

It is imperative to check out the capitalization rate or cap rate when investing in Glendale Real Estate to find out the value of an income property. Red Blue Realty presents these tips to know the exact value of the property and get the maximum returns on the investment.

Glendale, Ca (PRWEB) November 15, 2012

What It Does?

Capitalization rate or cap rate of a property is usually calculated by dividing the net operating income by property cost or value. This formula is used by lots of Glendale real estate brokers, sellers, and lenders to tell the value of a commercial income property or even single-family residences. To calculate a cap rate correctly, it is important to consider the financing factors as well. Cap rate is an excellent tool to measure the potential returns on an investment.

 Vernon's Lane, Nuneaton The island is at the centre of a housing estate. Vernon's lane passes the blocks of flats in a west-south-westerly direction
 (Photo credit: Wikipedia)
Who Uses It?

Anyone who wishes to invest in Glendale homes for sale and is not sure of the income the property will generate in the near future can use cap rate to reach the decision. A professional real estate agent can help in calculating the cap rate correctly and assist in comparing investment opportunities before striking the deal. As there is a lot of work involved in calculating cap rate and applying it to real estate investing, it becomes extremely important to hire a reliable resource to help with the process. Using the Cap Rate method is one of the most effective ways to determine if the deal is a good deal or not.

Red Blue Realty is one of the most renowned names in the Los Angeles Real Estate industry. Each and every Glendale real estate agent working with the company specializes in real estate and are very well versed with the facts and figures that can help strike profitable deals. When it comes to calculating Capitalization rate or cap rate, the real estate agents take into consideration all the factors whether it is related to financing, appreciation, or decline of the potential income or property's selling cost, rental income, vacancy amount, and operating expense. Real estate agents at Red Blue Realty thoroughly study the market trends in order to get their clients the most profitable deals when it comes to investing in Glendale Real Estate. Apart from providing the complete list of homes for sale in the area, complete financial data is collected to ensure high returns on investment.

Website: RedBlueRealty.com
Email: Contact(at)redbluerealty(dot)com
Phone Number: 1 - (855) 66-RBREALTY or 1- (855) 667-2732
Also, it’s time to get social with Red Blue Realty on Facebook and Twitter!

Taken from: http://www.prweb.com/releases/Glendale-Real-Estate/Glendale-Homes-For-Sale/prweb10121879.htm
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Wednesday, November 14, 2012

12 Reasons To Hire A Realtor Instead Of Buying A Home On Your Own

Buying a home for the first time can be overwhelming. While it may be tempting to avoid realtor fees and handle things on your own, having a professional by your side can make the process go more smoothly and provide valuable insight into what's likely one of the biggest purchases of your life.

"Don't try to buy a house with out working with a realtor. Okay, that's it," real estate expert and host of NBC's "Extra's Mansions & Millionaires!" writes in his book Before You Buy! The Homebuyer's Handbook to Today's Market.

Corbett breaks down 12 reasons it pays to hire a realtor. He writes:

book Before You Buy! The Homebuyer's Handbook to Today's Market - Logo of the National Association of Realtors.
Logo of the National Association of Realtors. (Photo credit: Wikipedia)
Access to every home that's on the market via MLS (Multiple Listing Service) and all other sources, including ones that may not be listed publicly.

Inside track to the deals before they event hit the market.

The ability to combine your Dream House Checklist with your price range.

Knowledge of recent comps (comparables) — what similar properties have sold recently and for how much.

Knowledge of neighborhoods.

Ability to negotiate with the sellers on your behalf.

The inside scoop from the sellers' agents.

Expertise to negotiate and close the deal.

Experience to manage the legalities of foreclosures or other distressed properties. Muscle to get a deal through the escrow or "under contract" period.

A litany of referrals for inspectors, mortgage brokers, and even tradesman for renovations.

Objective professional advice when you have your buyer's remorse meltdown.

By Meredith Galante

Taken from: http://www.businessinsider.com/why-to-hire-a-realtor-when-buying-a-home-2012-11
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Tuesday, November 13, 2012

3 Creative Marketing Ideas Most Real Estate Agents Wouldn't Try

Today I want to share some of my favorite “secret” home-sale marketing techniques with you – but only if your promise not to use them against me if you decide to sell a home in my neighborhood.

As it stands now, when I remodel a home and put it on the market to sell – that home stands out and is seen by more people than any other home around. No, it’s not magic.

It’s creative proactive marketing and it’s above and beyond what most real estate agents will ever do.

However, if you are serious about taking control of your destiny and not just “waiting” for a buyer to come to you then this article is for you.

If you’ve ever used a real estate agent to sell a home, you know that they have a number of important jobs. They:

- list the home
- put the sign in the yard
- show your property to prospective buyers
- market to the best of their ability
- and handle all the paperwork.

home-sale marketing techniques remodel a home and put it on the market to sell - Real Estate = Big Money
(Photo credit: thinkpanama)
I am a big fan of using a skillful real estate agent to sell properties and selfishly, I want them to devote all their time to selling my property – but the simply fact is: my agent has other listings. My property is probably not my agent’s number one priority and it would make no financial sense for him or her to devote all their time to selling just my stuff.

Furthermore, my listings are a small fish in a big pond. While the market might be different where you live, the competition is fierce around my town due to the vast number of homes on the market and the very few buyers who can purchase. My most recent home listed just two weeks ago is one of hundreds within the community and is easily lost in the “pond” of the MLS. While I have done my part in making sure it looked the best and was priced to sell – it still is just one in a vast sea of homes. Therefore, I have begun using several unconventional methods to make my home stand out above the competition. There are numerous “out of the box” techniques that can be used to sell a property but most agents simply stick to the list I’ve given above (and I don’t blame them – these techniques would be very difficult to scale for a big agent with lower-priced homes.) By using creative techniques to sell my homes I am aiming to put my property in front of as many eyes as possible and bring in a quick sale.

So, without further suspense, I give you: Three Marketing Ideas Your Real Estate Agent Probably Won’t Do (But You Can…)

1.) Dedicated Website

Beautiful websites serve the same purpose as incredible curb appeal: because first impressions matter.

When I say “dedicated website” I’m referring to a web address specifically designed for the property. Most agents will list the home on the MLS and perhaps even on their company website but few agents have the ability or desire to create a specific website just for your property (such as www.12345ElmStreet.com – not a real site). While I’ve seen this technique used a few times over the years (especially with higher end listings) – honestly: the design generally sucks.

Most real estate agents are not designers and the websites usually look like they came out the internet circa 1997. However, incredibly good looking websites today are easy (and fast) to make and publish without using any code at all. I’m not saying the website needs to be designed by a graphic artist – but basic a basic aesthetic appearance shows you buyer you are offering a quality product.

Check out an example by visiting the most recent website I created for my recent listing: www.752WMarcy.com. Total cost of this website was under $100.00 for an entire year and that included $125 worth of online advertising, which brings me to my next marketing idea.

2.) Facebook Advertising

I’m going to make a guess and say that you probably have a Facebook page; as do I, my business, your business (you better!), your neighbor, your family, and the guy who is going to buy your next house. So why not target that guy using the same social media? You can even send him directly to the dedicated website you created from above!

I’ve written extensively on Facebook ads before (check out this article to read more) and the world of Facebook ads have gotten even better since Facebook’s decision to allow users to “promote” their status’ for as little as $7.00.

Facebook ads allow you to target individuals who live in a specific geographic location – which in turn allows you to create ads that target and mention those locations specifically. These type of ads are clicked on much more often due to the “local” feel that ad has. For example, here is the most recent ad I used to market a recent home:
I used this ad to target individuals who lived only in the city of Aberdeen, WA between the ages of 24 and higher who want to move from the city (higher crime, drugs, and rough living) to the nicer suburb town of Montesano. I also included the price (to minimize the number of people clicking just to find out the price) as well as a specific call-to-action. Total cost: $.35 per click and 42 clicks in four days = about $15.00 (so far). However, when I signed up for my hosting plan I received $75 in Google ads and $50 in Facebook ads – so I’m still below that number!

3.) Staging You’ve all heard of “staging” before and probably have seen amazing pictures on television shows like Flip That House or websites like “123Flip.com” so I don’t need to belabor the point. However, staging is incredibly important for making your home stand out above others in a crowded market but unless your home is selling at the top of the market don’t expect your real estate agent to offer any staging help.

If you don’t have staging furniture of your own or don’t sell enough property to make it a worthwhile investment, consider renting furniture from a “rent to own” furniture company like Aarons or Colortyme. I recently rented the furniture set in the photo below for just $110 per month – which included delivery and pickup when the home sells.

Final Thoughts

While those aren’t the only marketing strategies I’ve been experimenting with lately, they are some of my favorite techniques that utilize both classic and modern methods of marketing to allow your home to be seen by the highest number of people possible. The more people who are exposed to your home, the greater the chance you have of selling.Marketing is not an exact science, but rather a fluid art that changes with each experiment – so play around with these techniques and let me know how they work for you!

Now it’s your turn! What are your favorite methods to market your properties? Do you do anything extra or just let the real estate agent take care of it all? Let me know below in a comment!

By Brandon Turner, Bigger Pockets

Taken from: http://www.businessinsider.com/marketing-tips-could-help-sell-your-house-2012-11
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Monday, November 12, 2012

10 Tips for Saving on Holiday Travel Right Now

NEW YORK (TheStreet) -- Nearly 60% of holiday travelers surveyed by ShopatHome.com said they were waiting to book because they are afraid they will miss out on deals, and only 11% were booking now to lock in their plans.

That 58% who were waiting are taking a bit of a gamble, while those booking now have a number of ways to save. We've put together a list of some of the best travel tips by the experts to help you put more cash into your pocket this holiday season:

1. Don't delay: Experts agree booking airfare now will help you save. "Airfare has increased substantially, and will continue to increase as we approach the busy holiday travel periods," says Omar Ghumrawi, director at PremierAwardsBookings.com. "The more one delays, the higher the risk of a combination of a substantial increase in ticket prices and/or travelers forced to sub-optimal routings to keep costs reasonable."

HONOLULU, native Hawaii for a low-key vacation with his family through the winter holidays
(Image credit: Getty Images via @daylife)
2. Join up: Jon Lal, frequent traveler and founder of 
BeFrugal.com, says taking advantage of loyalty and membership programs is one of his No. 1 tips. "These programs helps you take advantage of points for perks," he says.

3. Look for website promo codes: Most of us know by now that many airlines now charge for booking over the phone rather than online. Lal says you should go a step further: "Always look for a promo code for a discount on your travel needs. Earn cash back for free by clicking through a cash back shopping website to the travel company like an airline or hotel you are booking with." Remember that airlines are not the only ones to offer discounts online. If you're taking a ski vacation, there could be coupons and extra savings online, says Rebecca Steffan, senior public relations manager for the Adirondack Regional Tourism Council.

4. Act your age: You may not feel like you're a "senior citizen," but some travel companies and websites give discounts to "seniors" as young as 50. If you're unsure if you can get a discount, Lal says, "It never hurts to ask."

5. Get the timing right: Know when the best booking times are, as well as the best times to fly to get a discount. "Many airlines compete with each other to have the lowest prices for their flights. Knowing when those ticket prices are the cheapest is a great way to save money," says Mathias Friess, CEO of webjet.com. "Typically, Wednesday afternoons is the best time to buy flights. Many airlines will lower their prices until they cannot any longer and then begin increasing them again." Some travel experts say booking in the early morning is a good time. "Airlines update their revenue management systems overnight and often will release limited inventory of lower-priced seats after reviewing booking patterns," says Mark Drusch, chief supplier relations officer of OneTravel.com. One thing the experts do agree on: If you fly on the holiday itself, it is typically cheaper. "Christmas Day is often the beginning of low season for some destinations, but Christmas Eve is still peak season," says Peggy Goldman, travel expert for FriendlyPlanet.com.

6. Don't rely on a single site: When checking booking sites, make sure you check a few to get the best deals, especially if you will be traveling out of the country. "For international flights, check both the airline you want to fly and any U.S.-based codeshare airline," says Carol Margolis at SmartWomenTravelers.com. For example, when flying from Orlando to Paris, check Air France and Delta. "You'll be booked on the same flight, but one airline may offer a much less fare."

7. House swap: "You stay in my house, and I stay in yours -- that sums it up!" says Tracy Rubin, who works with Homeexchange.com. You pay a $120 annual membership fee, which Rubin points out is less than a one night stay in most hotels, and list your house. This may be good if you plan on traveling a lot, but it's not for everyone.

8. Sign up: "Sign up for email news from travel suppliers you like so you're the first to know of any holiday specials," says Peter Grubb, founder of ROW Adventures. He also advises if you're going on an adventure tour or outfitted trip, book that before your airline ticket. "Many people do it backwards and can't find the trip to fit their flight."

9. Get gift cards for yourself: Andrea Woroch, a consumer savings expert, says to look for discount gift cards. Sites such as GiftCardGranny.com sell gift cards for flights, hotels and more for less than face value. "While you are shopping around, pick up a few for restaurants and movie theaters to save on those favorite family nights out during the holidays," Woroch says.

10. Look for price matching: Just like in the grocery store, some sites will price match if you find a better deal in a certain amount of time. Jeff Pecor, founder of Tailwind PR, says that some sites, including PayPal, will price match -- even on some airline tickets -- if lower prices are advertised.

By Kerri Fivecoat-Campbell

Taken from: http://www.thestreet.com/story/11763308/1/10-tips-for-saving-on-holiday-travel-right-now.html
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