In recent months, the ‘little chicken’ syndrome has come upon us and many intelligent people have lost their senses and think that the sky is falling. Don’t get me wrong, there are some areas in the country where I would not currently choose to buy investment property.

However, Columbus Ohio does not fall into this category in my opinion. In fact, I’d say it’s a comparatively safe bet and if you’re looking to buy cheap houses in bulk, why not do it when everything is on sale?

Why is Ohio’s capital city a safe area to invest in wholesale property?

According to PMI Group, a leading mortgage insurance and finance company with more than 30 years, Columbus, Ohio is one of the 10 safest cities to buy investment property. PMI recently released its Fall 2008 Risk Index, listing the 10 safest and 10 riskiest areas to invest in.

They ranked Columbus, Ohio properties with less than 1% chance of price drop in the next 2 years, while the worst on the list have more than 99% chance of price drop.

Also, Forbes magazine listed Columbus Ohio as one of the top 10 places to live well. This translates to Columbus being a great place to live with a lower cost of living, which in turn makes it a more attractive location for opportunity seekers in an economic downturn.

Columbus Ohio also made CNN Money Magazine’s Top 10 Cities to Live in list. Not only is it attractive for its affordability, but it is also a desirable place to live for what the city has to offer. This should be good news for homeowners and retailers alike.

So if the metro area is so good, why are there so many great deals?

Columbus has been affected by the real estate ‘bubble’ to some extent. The ongoing foreclosure crisis and falling prices have ushered in an influx of large investment deals hitting the market. This has provided the opportunity for investors to buy great wholesale deals for pennies on the dollar.

With a slim chance of a further decline in real estate prices, it would appear that we are bottoming out here in Columbus.

More silver lining in a weak economy…

Material costs are plummeting and contractors are calling for work. Therefore, any investment property purchased at a great price, especially at a wholesale price, has even more inherent potential benefits. This is due to the fact that with the shortage of materials and the desperate search for work by contractors, the cost of rehabilitating distressed properties has also come down.

Ohio’s capital city is certainly a great place to buy wholesale investment property at a significant discount. So homeowners (buy-and-hold investors), rehabbers (retailers), and just plain bargain hunters are bound to make a profit or profit.

In an age where everyone is losing money as a direct result of fear, be sure to use analytical reasoning to decide on your financial health rather than media-fuelled emotion.

Making the Most of Repossessed Trailers

In recent years, it has become increasingly easy to find repossessed trailers due to the economic challenges facing our country. Trailer foreclosures occur when the borrower falls behind on payments. When this happens, the bank determines whether or not the borrower will be able to continue with the payments; if not, then the bank starts the foreclosure process. Before the foreclosure is complete, the borrower can still redeem the trailer by paying the loan amount in full. However, once the foreclosure is complete, the borrower no longer has any rights to the trailer and the bank assumes full ownership.

Even when foreclosure seems imminent, the borrower still has some options. First, the borrower may try to renegotiate with the lender for a lower interest rate or an extension of the loan repayment period, either of which will reduce the amount of the monthly payment. Another option is to try to negotiate a short sale. In this case, the lender would agree to sell the trailer at a lower price and therefore take a loss on the trailer to recover at least part of the loan amount. Finally, as a last resort, the borrower could declare bankruptcy.

If the borrower is unable to negotiate with the lender and does not want to file for bankruptcy, the likely outcome is foreclosure. Although unfortunate for the borrower, a repossessed trailer can be a great deal if he is looking for a new trailer. All new trailers depreciate as soon as they leave the lot, so there’s already a 30% discount when you buy a used trailer, even if it’s only a few months old. Also, when a trailer has been repossessed and then repossessed by the bank, the bank must get rid of it as quickly as possible. This is because the trailer has become a financial and commercial liability for the bank. Because the bank is not looking to make a profit, they will sell it for well below its value, just to make sure it sells. Not only does the bank have to pay storage fees for the trailer, but the remaining loan amount on the trailer subtracts from what the bank can lend, reducing its ability to generate income.

To find repossessed trailers, you can go to a dealer or go to a bank auction. You’ll get a better deal at a bank auction, but you’ll probably have to do some research to find one. Either way, you will save significantly on a trailer in excellent condition when you purchase a repossessed trailer.

Every October, the IRS publishes the annual retirement plan limits. Some of these limits provide in part; the maximum individual contribution to a Solo 401k, 401(k), 403(b) or 457 plan; the maximum compensation considered for allowances and deductions from the retirement plan; and the limits of social security.

Investment representatives and retirement service providers will hail the new limits as an opportunity for employees to save more money in their tax-deferred retirement plans. Following that advice can be a mistake for highly paid employees and could cost your employer additional fees.

Following the advice, highly paid employees with higher levels of discretionary income would increase their contributions. Low-compensated employees with little discretionary income will keep their contributions at current levels. The net result is a failed average deferral percentage test with post-refunds at additional and highly offset employer fees.

Rather than just touting the new plan’s contribution limits, investment representatives should include the benefits of the “Safe Harbor” plan design with them.

Adopting a safe harbor 401(k) plan design allows an employer to avoid discrimination tests of employee elective deferral rates and/or employer matching contributions (ADP/ACP tests). The benefit of avoiding the test is to maximize contributions for the highly compensated.

In general, there are two types of safe harbor designs.

One type is the non-elective safe harbor design of 3% of the compensation. Generally, a 3% contribution is provided to all employees eligible to make elective deferrals to the plan. The guaranteed contribution requires a 3% employer contribution to be made each plan year, unless the employer amends the plan and removes the provision before the start of the new plan year. 3% corresponds to 100% of the employees.

The other type of safe harbor design is a matching contribution. There are two options to choose from, basic or enhanced matching. The basic Safe Harbor Match Contribution is defined as a 100% match on the first 3% deferred and a 50% match on deferrals between 3% and 5%. Alternatively, the employer may choose an enhanced match formula equal to at least the amount of the basic match; for example, 100% of the first 4% deferred.
Safe Harbor 401(k) plan provisions cannot be added to an existing 401(k) plan in the middle of the plan year. Instead, the plan must be amended from time to time to add 401(k) safe harbor provisions for the next plan year.

As an exception to the time requirements for giving the safe harbor notice, a new 401(k) may adopt a safe harbor design at the same time the plan is established, assuming the notice is given concurrently. There must be at least 3 months remaining in the plan year to make elective deferrals for a plan to use this provision. An existing profit-sharing plan that is modified to add a 401(k) feature is eligible to use this rule.

Additionally, a greenfield business entity establishing a new 401(k) plan may have an initial plan year of as little as one month (assuming the initial year is followed by the normal 12-month year).

A plan sponsor using a guaranteed 3% must make that contribution regardless of their subsequent financial condition during that plan year. However, an employer may stop making safe harbor matching contributions by notifying employees. This notice must be given at least 30 days before contributions are to stop. If an employer stops safe harbor matching contributions before the plan year is complete, the ADP and ACP tests must be taken for the entire plan year.

Investment representatives who plug annual plan limits into a “safe harbor” plan design will end up providing their clients with three benefits: higher contribution levels for the highly compensated, no ADP/ACP testing hassle, and customer satisfaction. any major issues. That is has triple play.

The numbers are rolling in, and the outlook for homeowners is bleak: According to a recent RealtyTrac report, the first three months of 2006 saw a 72 percent increase in foreclosures nationwide. Economists blame a variety of factors, including rising gas prices, interest rates, insurance rates, and property taxes. This increase in foreclosures is not a surprise and is being driven in large part by the increase in creative financing packages offered by lenders in recent years.

In recent years, the foreclosure rate has remained at historically low levels because rising home values ​​have made it relatively easy for financially strapped homeowners to sell. But as appreciation rates stabilize and with billions of dollars in adjustable-rate mortgages subject to rate increases this year, the demand for assistance from foreclosure specialists will only increase.

One of the most effective foreclosure strategies is known as a short sale, which is when a lender agrees to pay less than the amount owed to avoid foreclosure or, if a foreclosure has already occurred, to get rid of the property and avoid loss. greater. . For example, suppose a homeowner is facing foreclosure on a home valued at $250,000 with a mortgage of $238,000. If the owner were to try to sell through a traditional real estate agent, he would have to raise cash at closing to complete the deal. Instead, using a short sale strategy, he goes to the lender with an offer of $190,000, and the lender accepts that as payment in full on the loan.

In this situation, everyone wins. The owner has avoided foreclosure and has been relieved of a huge burden. The lender has avoided the cost of foreclosure, the damage of having a bad loan on his books, and the hassle of having to repossess and then sell the property. And he has purchased a property with an automatic net worth of $60,000.

While it is possible to conduct a short sale after foreclosure when the bank actually owns the property, it is best to use this strategy when the owner has received a notice of default but before the actual foreclosure. Lenders will rarely, if ever, negotiate a short sale until notice of default has been filed. But at that point, the lender may be highly motivated to give you a nice discount to take a problem out of your hands.

Properties that are over-leveraged (with mortgages that exceed market value) and properties with multiple mortgages are prime candidates for short sales. Remember, second and third mortgages are usually removed at a foreclosure auction. These lenders would rather have something than nothing and will usually be willing to negotiate with you. Of course, cosmetically damaged properties are also ripe for a short sale because lenders don’t want to get into the repair business.

How to make a short sale

The first step in the short sale process is to come to an agreement with the homeowner and get the property under contract, perhaps using an Option Memorandum that can be filed if necessary. This means that you now have an interest in the property and the owner cannot easily back out of the deal after spending hours working on it.

Then contact the lender and ask for the dirty shorts gold exercise package. The information on the package will tell you exactly what you need to do. The lender will likely request a substantial amount of information about the homeowner, including a letter explaining why you have missed your mortgage payments, bank statements, pay stubs, a copy of the real estate purchase agreement , etc. Gather this information and return it to the lender as quickly as possible. Remember, the foreclosure clock is ticking.

The next step in the process is the broker’s price opinion, or BPO. This is an alternative to a full appraisal and is typically done by a local licensed real estate professional. The BPO is the secret to a successful short sale, and you want it to be as low as possible. Remember that real estate agents are conditioned to seek the highest possible appraisal, but you need them to see the situation from your perspective. The lower the BPO, the better your chances of getting the discount you want.

After the BPO is delivered, the lender will either reject or accept your short sale offer. If you are turned down, you can renegotiate and even apply for a second BPO. If accepted, congratulations – you’ve resolved a problem for the owner. and the lender, and made money for you in the process.

Whether you’re using a simple Flip pocket camcorder or a large professional video camera, it’s very important that you choose the right tripod.

First, think about the weight of your video camera. If you’re using a pocket video camera, you’ll probably only need a lightweight tripod. There’s no need to invest in the biggest, most expensive tripod you can find. Rather, consider something lightweight and that you can take with you in the car regularly just in case.

Second, think about where you are going to use your video camera. Will you be indoors or outdoors, what type of ground or terrain will you be setting your tripod on? Will it be on hard ground, gravel, pavement, rocky terrain, etc.? Or will you be preparing for a concert in a large outdoor venue with potential rain and the crowd moving around you?

Let’s also think about how long you’ll be recording. Will this be a short video, one with multiple angles, and a longer one? If you plan to move the tripod around during the shoot, you may want to consider a tripod that is sturdy yet lightweight. Also, consider if you will be moving the camera slightly during the shot or will be able to sit back and enjoy the event.

Often the hobbyist photographer or videographer purchases a tripod that is large and cumbersome for a small video camera for use on family outings. So when you’re looking for tripods to buy, you may want to consider buying more than one tripod. This is suggested if he plans to shoot something where he needs to incorporate multiple angles. This way he can set up the tripods and then simply move the video camera from one tripod to another instead of having to reset each time he wants to change the angle.

Regardless of your shooting location or the size of your camera, there are a wide variety of tripods for your selection. From small tripods that actually fit on your key ring to professional tripods for very heavy professional cameras, the selection of tripods at your disposal is vast. Consider a tripod an investment just like you did when you bought your camera or camcorder. Since some tripods fit many different video cameras, you may be able to keep and keep your tripod purchase for a lifetime.

Many beginning real estate investors start by selling real estate to make a quick buck. If you want to make more money by investing in real estate, you need to know a few essentials.

What is the definition of real estate flipping?

Simple definition: Buying a property and quickly reselling it, hoping to make a big profit. Typically, people think of selling houses, or buying and selling a house quickly, as the only way to make money selling real estate. However, some investors specialize in other types of real estate, such as land or shopping malls.

Some confusion arises about the process of making money selling property. People who specialize in finding bargain real estate, obtaining a purchase contract, and then selling the contract before taking title to the property are known as “Bird Dogs.” These beginning real estate investors start with no money down by:

• Finding a Stressed Seller with a Bargain Property
• Securing a sales contract
• Selling your contract for approximately $500 to $5,000 to an experienced real estate investor

Isn’t it illegal to sell real estate?

Flipping real estate is not illegal. However, many unscrupulous investors committed mortgage fraud to make a quick buck. Some of these investors, working with mortgage brokers and appraisers, resold homes to unqualified buyers inflating property values ​​and homebuyer qualifications. Often these home purchases had no money or little money to start with. When these new homeowners defaulted on the mortgage, the mortgage lenders lost money because the home was not worth the inflated purchase price.

To avoid legal problems when selling real estate, do not commit mortgage fraud.

To make money selling real estate:

1. Prepare your financing so you can close a deal fast.

2. Know your market so you know what makes a good business.

3. Find a bargain property owned by a stressed seller to sell.

4. Secure a sales contract in your favor.

5. During escrow, plan your sales actions.

6. Close the property on time.

7. Immediately put your sales plan into action. If the property needs work, be prepared to do it immediately.

8. Market your property to your target market. Don’t just list the property and hope for the best.

9. Find a qualified buyer. Ask a loan officer to verify that your buyer meets all the mortgage requirements.

10. Stay legal. Do not use an inflated appraisal. Don’t give your buyer the down payment. Don’t help your buyer create fake W2 forms, write fake letters of credit, or prepare fake documents. You can pay many of your buyer’s closing costs to make the purchase easier.

You can make money selling real estate. Buy low, sell for full market value, avoid mortgage fraud, and enjoy your profit!

Copyright © Jeanette J. Fisher

Since 2013, there has been an increase in sellers pre-selling properties and listing them on the Multiple Listing Services (MLS). Core Logic reported that in 2013, 53% of real estate transactions conducted in the US were not listed on the MLS. Most sellers do not have a real estate license and are not allowed to use the MLS, the standard listing portal for a licensed real estate agent. Although buyer’s agents are willing to work with For Sale by Owner (FSBO) listings, they are not allowed to give any advice to the seller or access marketing.

Sellers who want to list a FSBO may be losing tens of thousands of dollars in actual market value on a property, especially if they list properties without an up-to-date appraisal or current market research. Often a seller will list a FSBO based on the sales price of a neighbor’s home, which may or may not be the best option for a comparable property. A local real estate agent continually lists properties in their regional sales area and is best suited to offer a market comparison in the neighborhoods they cover. Remember, tax assessments, while readily available, are not the best tool for gauging a property’s true market value at any given time.

One nuance about FSBO sales that should give sellers pause is the fact that an experienced buyer’s agent may have the upper hand in a FSBO real estate transaction. Because? The seller may not be familiar with state laws and fiduciary codes and/or the ramifications of contractual issues that arise during negotiations. Even with an attorney creating a real estate contract on a property, the final outcome of a For Sale By Owner (FSBO) real estate sale can be delayed due to a variety of issues. Experienced REALTORS know how to circumvent these obstacles quickly and keep a property transaction on track.

FSBO does not equal the advertising potential of a REALTOR

Working with a professional REALTOR is worth the commission under these circumstances. An FSBO has limited opportunity for marketing, becoming more dependent on real estate portal websites like Zillow.com. With an experienced agent, the advertising penetration of a property is much higher. For example, I list my properties for sale in Williamsburg, Virginia on four MLS websites. This gives my sellers a wide area of ​​coverage so other agents can see the listing and buyers on the MLS can see it too. My MLS listings are also republished on Realtor.com, which is owned by the National Association of Realtors and is also a trusted website in the industry.

My broker, Coldwell Banker Traditions, also has a listing mechanism on their local website, where my clients’ properties receive excellent visibility. Not all REALTORS list properties as extensively on the Web, so check with individual realtors and ask them for specific information about the advertising provided for client listings through MLS and other places on the Web.

There are other disadvantages to listing properties without an agent. If the owner misses a visit to a potential buyer, he may lose the opportunity to sell a property outright. For sales of real estate in my territory, Southeast Virginia, an owner cannot use legal forms created by the Virginia Association of Realtors (VAR), unless he is licensed. Real estate forms are formally VAR registered and sanctioned for exclusive use by members. This puts the seller at another distinct disadvantage in the transaction. Having to create legal forms all over again is not only time consuming, but can also add to the costs of a lawyer.

In addition to some of the more obvious advantages of listing with a licensed real estate agent, there is also a common misconception that using a real estate attorney will save money instead of paying agent commissions. The seller still has to pay the buyer’s agent’s fee (which varies by state and the type of real estate transaction). All FSBO sales contracts must be created and finalized with an attorney. The sales process involves the buyer reading the contract and making changes. The attorney reviews the contract properly and presents it at closing. Lawyers in Virginia charge much more to create an original contract (in my experience) than the commission on the seller’s side, in most cases. Sellers wishing to go it alone should seriously consider that attorney fees may be more expensive and largely unpredictable, depending on the number of legal forms required, length of negotiations, and additional contract requirements.

Sellers need to forego the FSBO and be smart in a real estate market that is definitely on the move in many regions of the US. Prices tend to rise in the 2014 market and inventories are low in many markets. Therefore, sellers need expert advice on pricing real estate at current market value now, more than ever. In addition to the potential loss of proceeds from the sale of the home, the seller can easily be faced with legal and contractual issues that may not be resolved quickly. Worse yet, these issues may be resolved too late to meet the time limits of certain loans such as FHA and USDA. If the seller does not know what he is doing and the terms are not taken into account, this can cause the buyer to lose the loan. In turn, the property loses a good buyer and valuable time on the market.

Be prudent and do not engage in risky business: listing a property outside of the MLS or without an authorized agent. It is best to have representation from a licensed agent for a variety of reasons. The main reasons are: the seller will have expert advice, will most likely sell the property sooner, and the property will be priced at fair market. Say no to FSBO. Instead, find a capable real estate professional in your region for peace of mind.

Water damage from a flooded foundation often results in mold if it is not cleaned and dried immediately and properly. Water damage and mold are two very common problems that most homeowners will face in their lifetime. Although neither can be prevented 100 percent of the time, there are some helpful tips that can minimize the risk. Why can’t water damage or mold damage be completely prevented? Simple. You can’t control Mother Nature.

We all know that everything around us ages and begins to decay. That is the process of life that everything has to go through. Trees grow, eventually fall over and begin to decay. Streams cut through the land and eventually a Grand Canyon is formed. Temperature changes cause the ground to expand and contract, and rain causes the ground to swell.

With all these things going on around us, you need to be aware of the changes taking place and take appropriate action. First, let’s focus on base flooding and water damage. We know that when water enters your home, it must be cleaned up immediately or damage can occur. Your finished basement walls will soak up water like a sponge and cause the drywall to deteriorate and eventually crumble before your eyes. Wood floors can also absorb this water and swell, buckle, and warp. The trick is to never allow water into your house, except in controlled situations, like when you’re mopping the floor or cleaning. Check these things around the house to prevent water infiltration.

• Check your gutters and clean them after the leaves have stopped falling. This will ensure that winter snow can melt and drain properly without clogging. Also, check your gutters in the spring to be ready for summer storms.
• Exterior drains. Places like your yard may have storm drains that need to be free of clogs.
• Check your window seals inside and out. Older homes often have caulk that may have dried and deteriorated. The water could enter and cause invisible damage between the inner wall and the outer wall.
• Check that your faucets are not dripping. Water damage starts with a single trickle of water that can turn into a flood. Also, if your outdoor faucet drips until the winter frost hits, the wet soil can expand and put enough pressure on your home’s foundation to cause a crack. Then, when the spring thaw hits, all that frozen soil can drain into your basement in the crack formed.
• Check all your indoor faucets and hoses. Make sure faucets are free of dripping or rust and hoses are free of cracks and leaks.
• Control the humidity in your home during the winter. Your windows and exterior walls can sweat if there is too much humidity. Most windows can handle this condensation, but excessive condensation can cause problems. Keep your humidity constant throughout the year. It is best to keep it around 30-35 percent.

Now let’s talk about mold. This is something that every city, state and country has. You can’t get rid of it, but you can learn to control it. Mold needs a cool, dark, moist environment to thrive. As mentioned above, keeping your home’s humidity between 30 and 35 percent is the first step in limiting the humidity level in your home. Second, is the breakdown. If your home is airtight and has no air circulation, you have a perfect home for mold. Ceiling fans, box fans, and even opening windows allows air to circulate, which helps prevent mold growth. It sounds counterintuitive in that opening windows would allow mold spores into your home. True, but spores aren’t a problem as long as you don’t give them an environment to grow.

Cleaning your home from mold growth is something of a science, but also some good old-fashioned remedies. The first thing to remember when cleaning is to never leave water on the surface for longer than necessary. What that means is wash and dry completely. For example, if you have a hardwood floor and you use a mop, you expose the wood to moisture which causes it to absorb and sometimes collect under the wood. Always use recommended wood cleaning products. The following tips are to help prevent mold growth and clean up existing mold before it gets out of control. If it gets out of hand, you’ll need professional help to remove it.

• Always use wood cleaning products on your hardwood floors. Never mop with a wet mop.
• If you spill water on your carpet or hardwood floor, wipe it up and dry it as soon as possible. Blot wet rugs with paper towels until no more water can be absorbed after stepping on the paper towel with the heel of your foot.
• Kitchen and bathroom sinks should be dried after use. Water that collects in the wall seams or backsplash are breeding grounds for mold.
• Keep your refrigerator dry. Never put hot items in the refrigerator because they will create steam.
• Inspect your shower and tubs to make sure the grout and tile seals are in good condition. Vinyl tub edges need to be caulked.
• If mold is found on a non-porous surface, bleach or ammonia may be used.
• If mold is found on a porous surface, 35% hydrogen peroxide can be used on the mold. Let it soak into the surface for a few minutes, then scrub to remove the mold. Dry the surface. The exact amounts to mix depend on the amount and type of mold you are cleaning. Note: 35% hydrogen peroxide can cause discoloration and burns. Read the warning labels and directions that come with 35% Food Grade Hydrogen Peroxide.

There are companies that specialize in water damage restoration and mold removal that have some high-tech tools and chemicals to combat mold. These companies are usually called when it is too late to address the problem yourself or you are unable to do it yourself. Your job is to clean the affected area so mold spores don’t spread to other areas.

Unfortunately, most people don’t realize they have a problem until it becomes serious. If you have a situation where it is beyond your abilities to repair or clean up, it is best to contact a professional water damage restoration or mold repair company. They usually work with your insurance company to make sure they pay for repairs and cleanup.

Buying a home for the first time can be quite intimidating. There are so many things that need to be done, it could easily overwhelm you. Among the things you must do, you must request a mortgage prequalification with a bank or a lender. There are several borrowing requirements that you must meet to be approved. The lender considers a number of factors that will determine your ability and willingness to repay the debt.

One of the things lenders look at in a first-time homebuyer is credit score. If you are applying for a standard mortgage, then your credit score should be above 620. But, if you are applying for a government-offered loan, such as a USDA loan, FHA loan, or VA loan, then your score it must be over 580. In addition to your score, the lender will also look at your credit report for liens, bankruptcies, collections, etc. If he wants to be approved as a borrower, he must make sure that all his debts are paid in full.

The borrower’s ability to repay a loan or debt is calculated through a debt-to-income ratio. This is calculated as the total amount of all the borrower’s debt payments each month divided by the borrower’s total income per month before taxes. A good ratio is low, which is what you should try to achieve. Lenders often look for borrowers with a debt-to-income ratio of less than 36%. This is, of course, after the new loan payment is included in the calculation. For government loans, the accepted ratio can be as high as 45%.

Another ratio that lenders calculate to see if a first-time homebuyer is eligible for a loan is their loan-to-value ratio. This is calculated as the total value of the loan, which is then divided into the price of the property. A high ratio means less capital, so the lower the ratio, the better. With a lower ratio, more equity can be built up in the home, which means that you, as the borrower, will have less chance of defaulting on the mortgage.

When buying your first home, there are many things to prepare for. Obtaining a loan is a crucial part of making the purchase, so you need to prepare your creditworthiness. The better your creditworthiness, the easier it will be for you to get approved for a loan. At the same time, you won’t have to pay as much in interest rates. To avoid future financial problems, make sure you have a down payment ready along with any money saved for home upkeep before you buy.

There are many ways to classify wooden floors. You can group these floors in terms of the type of material, the shape of the material, and the way the floor is laid out. These are the main classes in which they can be classified. The type of flooring that is appropriate for our homes will be based on the traffic and the level of punishment our flooring is expected to receive over its lifetime.

When it comes to the classification of wood floors based on the type of wood material; maple, walnut and oak are the most popular. There are also other types of hardwood that are used as flooring. Teak and other exotic types can also be used as flooring material. Pine wood is also included in this category although, technically speaking, it is a soft wood.

Wood flooring can also be classified based on the form of the flooring material used. Types include solid, acrylic-impregnated, and engineered wood. Solid wood is basically defined as such: a solid piece of wood. Engineered flooring, on the other hand, is made of layers of thin pieces of hardwood. The crisscrossing layers of this type of material make it a perfect choice in ground conditions that require support for added strength and weight. Finally, the type of acrylic impregnated wood flooring is a combination of acrylic and solid wood. This combination gives us a durable flooring material that is capable of withstanding particularly heavy foot traffic.

Another way that we can classify wood flooring materials is by its size and the way the material is laid on the floor. Wood flooring can come in strips that are basically long pieces of wood flooring materials with widths ranging from 1.5 inches to 2.25 inches. Another type of wood flooring in this category is plank. This type of wood flooring material is relatively similar to strips of wood. The only difference is that the former are wider than the latter. The last type in this category is wooden parquet. These are small intricate pieces of wood in alternating directions and are set up in attractive geometric patterns.

The installation method can also be the basis for classifying the wood flooring material. There are types of hardwood floors that are attached to the subfloor below it. This type of wood flooring is fixed with staples, glue or nails. There is also another type of wood flooring in this category known as floating wood flooring. This is the type of wood flooring that is not adhered to the floor below. Instead, a foam underlayment is placed right on top of the subfloor, and the pieces of wood are placed on top of this foam material.