Apr 07

Pros and Cons to Property Management

Purchasing a rental property can be a great way to supplement your income, and during your retirement years, this extra income could be of great comfort. In the mean time, your rental property can also become a a burden, as you must deal with unruly tenants, rent collection, and surprise maintenance issues. If the main reason that you are avoiding owning a rental is due to all of the duties required of the landlord, you may want to consider hiring a property manager. A property manager will find good tenants (and evict the bad ones), collect rent, and make sure the property is in good repair. The following article outlines the pros and cons to hiring a property management company such as www.LeesLeasingCompanyLLC.com to help you make an informed decision.

Pros and Cons to Property Management

A property manager can really lighten your load as a landlord and take all of the work off your hands. If you are considering hiring a property manager to take care of your rental property, the following list of pros and cons may be able to help you out.

  • Pro: A property manager’s fees are minimal. Most property management fees are around 8% of the rent, which is a nominal fee considering all that a manager does to keep your property taken care of. If you only have one property, you may not feel that this fee is worth it, but if you have multiple properties, a duplex, or a fourplex, you should strongly consider a property manager before the task of filling these properties and keeping them maintained becomes too overwhelming.
  • Pro: A property manager can do as much or as little as you wish. If you want to be in charge of repairs, a property manager will be okay with that. They will use service companies that you suggest, and will only have repairs and replacements done with your okay. However, keep in mind that a property manager understands the rental market and tenant rights better than you, and so you should probably listen to their advice on changes and upgrades to your rental property, as it will help you find good tenants and keep them longer.
  • Pro: Property managers are experts at what they do. If you decide to take on the task of landlord all by yourself, you will have to find desirable tenants, collect rent, evict poor tenants, and either do repairs yourself or hire someone to do them for you. A property manager has the time, resources, and know-how to do all of these things properly and efficiently. He or she has a list of reputable vendors that can do repairs, has access to background checks and credit checks, and will be devoted to making sure your property is taken care of. Most importantly, they will ensure that the rent is paid, and if it is not, they thoroughly understand tenant rights and will get your tenant evicted legally and safely. For more information about how a property manager can help you, visit a website such as www.LeesLeasingCompanyLLC.com.

Feb 19

Finding the Most Appropriate Realtor for You

When you are looking to buy or sell some property, it can be quite confusing and frustrating. The best thing you can do in this situation is to hire someone who is trained and qualified to help navigate you through the entire experience and help you succeed. This type of professional is called a Realtor. They can help you get your house or property listed to be sold, and they can also help you look at the many listings and help you find the place you are dreaming of. There are Realtors all over out there who are just waiting to help you find or sell your home and make your dreams come true, including Joan Pletcher, Realtor.

Personality and Integrity

The two most important things to look for in regards to the Realtor as a person are their personality and their integrity. You definitely don’t want to hire a Realtor who isn’t honest in their dealings with you or their fellow men. You want someone who really loves people and working with them. You want someone who communicates well and enjoys their job. And of course, you want someone who is the same with you as they are with their fellow employees. This is called integrity.

Experience and Training

But of course, the most important things to look for are experience and training. These two things allow you to really know if they know their stuff. If they have been trained and are licensed to help you, you know they have taken the proper training courses and know the lingo and system and how things work. But experience is where someone like Joan Pletcher, a Realtor, can really shine because they learn to really apply the training and to get good at the way things are supposed to be done.

Feb 06

Ways to Find a Good Deal on a Home

Everybody wants to find a good deal on a house, right? Even though everyone wants to find the best deal, it can sometimes be stressful to do so. There seems to be so many homes for sale in Wilmington, NC, that finding the best deal is similar to finding a needle in a haystack. You shouldn’t give up, though. Being patient and determined is important for you in this journey of finding the best deal. There are, however, several things that you can do to get the process going and find that deal that you are looking for.

You can search bank websites. The banks will list their foreclosure properties online for you to look at. The prices, home descriptions, and photos will be posted for you to browse through and see if there is anything you are interested in. While the list may be long, some real estate agents will warn you against only checking those listings because they might not have every property available. You can also look at the Freddie Mac and Fannie Mae listings of homes for sale.

You can work with a real estate agent. Just as you would for the traditional process of buying a home, your real estate agent will have access to and knowledge of the foreclosure listings in the area that you are looking. Some real estate agents even work directly with banks and lending officers who have in-depth and up-to-date knowledge of the market in the area. Don’t hesitate to use the services of a real estate agent to find that deal that you are looking for.

While you are going through the list of homes for sale in Wilmington, NC, you can also pay for foreclosure-listing service. You will have several to choose from, just make sure that it is a legitimate company. You will have access to many foreclosures that you might not know about otherwise.

Dec 30

Time for that Lake Placid Vacation Home

You have dreamed for years of having a vacation home—some place you can escape to when you need a break from the demands of your normal life, a sanctuary from the daily grind, a respite from your routine. After years of working hard and creating stability and financial security for yourself, there’s really no reason not to take the leap and buy yourself a little corner of the world, whether it’s Lake Placid real estate or a beach house in Costa Rica. In case “no reason not to” doesn’t strike you as reason enough to move forward, following are a few of the reasons why you should.

*You’ve Earned It  It may sound on the surface as entitled or demanding or even a bit selfish, but it’s not. The word is not “deserve”, it is “earned”. (Though one who has earned it almost always deserves it, wouldn’t you say?) You have spent your adult life making responsible choices, working hard, and sacrificing a significant amount of your wants in order to give yourself this opportunity. You didn’t demnad it of anyone or expect it to be handed to you, you earned it. 

*The Stuff of Memories  If your parents or grandparents didn’t have a vacation home, you may not realize what an impact it can have on a family. (And if they did, you do.) Your kids and their kids will return to this place year after year, building countless memories of it and your time together. Those are the memories that will pop up in story after story for the rest of their lives, whether it’s ice skating and sledding at Christmas time or playing on the beach in the summer or collecting fallen leaves in autumn. A vacation home is like home base for a family, especially one that had spread out over time, and it will serve as a touchstone from here on out. 

*Solitude  On the flip side of the family home base is the opportunity for solitude such a home would provide. It would allow you to leave behind all the trappings of life as you know it and go someplace to be alone. If it’s close enough, you could spend frequent weekends there, surrounded by quiet and serenity, far away from noisy neighbors and traffic and road construction and the pressures of work. All of that would fade away as you soak up fresh air and clear your mind.

*It’s an Investment  Seeing as your financial accomplishments are what have made it possible for you to consider such a thing, it’s important to look at the financial benefits of purchasing a vacation home. As the economy continues to recover, so does the real estate market. Property and houses are beginning to appreciate again, which means you have the chance to buy at the low end of the market and are likely to gain equity over time. It’s not a get-rich-quick house-flippers scenario, but if you intend to keep the home for some time or keep it in the family indefinitely, doing so could turn it into a strong asset. 

As you ponder it further, you can likely come up with several of your own reasons why you should consider purchasing Lake Placid real estate or a Costa Rican beach house as a vacation home, but you probably still can’t come up with any reasons not to. 
 

Nov 05

What Are Buyers Interested in when Exploring Homes for Sale

People have different ideals when they want to purchase a house in Arizona. Some families do not even consider a property that does not have a pool, while others insist on a garage. There are various features you should be thinking about when looking at Maricopa homes for sale. Which house style do you like? Should it be a new construction or can it be an older home? How far do you want to be from the highway, stores, and medical facilities? Make a list of all important features, and consider the following issues.

Location

You should look for homes near major roads if you are frequently traveling for work or pleasure to Phoenix or Tucson. Of course, that should not be the only factor to discuss when you are determining which neighborhoods are ideal. School districts are important when you have children, and you may consider a house near clinics and hospitals if you or one of your family members needs medical care regularly. Avoid areas with high unemployment and crime rates.

Curb Appeal

One of the reasons why people from all over the country buy real estate in Maricopa is because they enjoy the dry heat and the many different home styles. There is something for everyone. Nature is rich in a warmer climate, which makes it possible for homeowners to enrich their outdoor environment with a wide range of unusual trees and bushes. Buyers want homes with a nice entrance and curb appeal. Some have a desert theme while others prefer nicely manicured lawns, palm trees, agave, and oleanders.

Condition of the Home

Price is obviously important when exploring Maricopa homes for sale. Although it is one of the key decision-making factors, nobody is going to purchase a house that is in poor condition. Make sure that you pay for a home and pest inspection once you found a house you want to pursue. No matter how well-staged a place is, an inspector will find all hidden defects and problems. Only finalize a sale when all problems were properly addressed.

Oct 07

Working with Professionals in Real Estate

Buying a new property is a huge step; going from renting where someone else is responsible for taxes and maintenance and lawn care to being in charge of all of that but also free to manage the property any way one wants is a major change in lifestyle. Choosing just the right property to take that step is hard and intimidating, but the right property will make all of the change and worry worth it. A house with enough bedrooms for everyone, a condo with enough space to have visitors over, a multifamily complex where a family can live and get some help paying for all the space and maintenance, these are some of the places and ways that people make the transition from renter to owner a great success, and companies like Community Best help with this transition.

Contacting Buyers

For every buyer, there are at least two sellers these days; sellers work with real estate agents to get their properties sold. Finding a buyer to make this transaction is a difficult task for those who are dedicated to doing so full time; buyers have to be found in many different ways. Some future home owners look for their future home on the Internet, some like to hire a real estate agent to find one for them, and some like to go about it the old fashioned way; driving around the neighborhood they want to live at. There are a few other ways that people find their new home or property, such as word of mouth or social media, but a real estate agent is supposed to reach out in all possible ways to get the attention of potential buyers; this is the first part of what they are paid to do.

Learning

Being a buyer can still take a lot of work, however; a real estate agent’s job is to sell houses, and while all good sales people look for the perfect fit for their buyers, not all of them do and not all of them really understand what their current customer is looking for. A buyer may find an agent whom they trust, but they should still do some research of their own about the housing market, the fees for buying a house, the cost of the real estate agent’s assistance, and the fees and taxes. Also, finding someone to review the house or building before it is purchased is important to a buyer’s peace of mind about the huge purchase and change of lifestyle they are making.

Professional Assistance

No one should rush into buying a property; there are a lot of responsibilities to understand and a lot of changes to make. But buying a home is a dream that many people have and are trying to fulfill. Owning a home may bring a lot of new financial needs and more work than renting a house is, but there is also more flexibility and control. Companies like Community Best work hard to make sure that their customers are able to find a property that they can afford and can enjoy. Finding a home does not have to be a difficult process or a frightening experience, not with the help of experienced real estate agent and a little self-education before the process begins.

Sep 30

How to Sell Real Estate Successfully during Tough Economic Times

The economy in the U.S. has not been thriving for several years. The reports about the housing market are also rather bleak. That can trigger quite a bit of anxiety when you want or need to sell your Vernal, Utah real estate property for a profit. Despite all the hoopla about the recession, there are homeowners who are still successful in selling their house. How do they do this? They hire a talented Realtor, and take good advice into consideration. Some of the ideas they incorporate in their sales strategy includes the following actions. It may seem like a tough endeavor, but is certainly possible.

Enhance the Property’s Curb Appeal

First impressions are more important than ever when selling a house. To create an inviting outdoor environment, start by putting yourself in a buyer’s shoes. In other words, walk to the street, and look at the house, driveway, and garden objectively. Make notes about all the things that need to be improved, repaired, painted, upgraded, removed, and cleaned. Do not underestimate the value of curb appeal. If visitors are not impressed before entering the house, your chances to sell the place to them will be slim. Hire a professional to seal the worn asphalt driveway and power-wash the exterior walls when you lack the time. Instruct the kids to put their bikes and toys away when they are finished with them, and you should do the same with garden tools. This is necessary, because potential buyers often give little notice, and you may not have time to clean up before their arrival.

Improve All Rooms

It is crucial to improve your entire living environment, and not just the main living areas. The moment potential buyers enter the house, they should be impressed. That feeling should stay with them throughout the entire visit. Create an elegant, but inviting interior. This means that there is no room for bold colors and challenging patterns. They are not everyone’s cup of tea. Just removing clutter can make a world of difference, and only costs you a bit of elbow grease. You can buy paint on sale, and suitable decorations at consignment shops or second-hand stores. Apply improvements to every room in the house, including the garage, and basement.

Start Packing

Why not? It makes perfectly sense to box up everything you no longer need. Why have summer clothes in your closet when temperatures are dropping? There is no need for Christmas decorations either in the spring or summer. Mementos and personal collections can also be stored away from the property. Many sellers simply rent a unit at a self-storage facility until it is time to relocate. Their possessions are safe, and their house looks much nicer without excess furniture and accessories. Throw out or donate items you no longer want. It can save you quite a bit of time, and your moving expenses will be lower. Keep the entire house as clean as possible.

Address All Necessary Repairs

Unless the goal is to purchase a fixer-upper, no buyer is interested in Vernal, Utah real estate in need of urgent repairs. Broken windows, a noisy water heater, cracked floor boards, and other problems are a guaranteed turn-off. If buyers still show an interest, it is probably because they think that they can get the property for a song. They will ask you to either complete all necessary repairs, or lower the price. Your profits go out the window.

Sep 17

Why Luxury Homes Always End Up on Top

Few real estate professionals can offer their clients exactly what they want, but in the luxury home market getting pretty close to exactly what they wish for happens all the time. Luxury home real estate professionals like Tisha and Cam make every possible effort to provide the best service to their clients and make certain they are getting what they want. But what exactly is luxury real estate and what sets it apart from the rest of the residential real estate market? Why do those in the market for a luxury home get what they want while everyone has to settle? There are several factors and all of them involve money. 

The Economy vs. Luxury

In most areas and for most people the value of their home rises and falls with the economic tides. It can be affected by politics, Wall Street, and global and local economic shifts. When the economy took a nose dive there were thousands of people that lost what equity they may have had in their home and many people suddenly found themselves owing more than their house was now worth. This market fluctuation had a huge impact on the residential market, however, its effect was felt much less in the residential luxury home market. Why? A nice insulation made up of money protected high-end areas and their lavish homes. Those who owned a luxury home during the economic downturn either had so much equity in their home that a small loss didn’t hurt much or they owned them outright. Even if this was the case shouldn’t the value of their home gone down? Yes, but the difference is that the super wealthy who buy these lavish trophy homes are still willing to pay an exorbitant amount of money regardless of how the economy performing.

Due to this and thanks to an influx of millionaires and billionaires in the world, those areas that are known to be the “it” places for the super wealthy to purchase usually are unaffected by trivial things like economic downturns. These super wealthy hot spots around the world reside in a bubble that is largely immune, as far as home value goes, to everything else that’s going on in the world. The only thing that drives the prices up or down depends on how much someone is willing to pay to achieve a certain level of luxury status. It also helps that the luxury home market is relatively small compared to the average residential market. This helps to drive prices up and as long as someone wants to buy, the prices will stay up or climb higher.

Buying Luxury

With so much competition to be king of the mountain, those with the resources to do so are willing to pay whatever it takes to get exactly what they want. Which makes a real estate professional’s job like Tisha and Cam that much easier and in the same breath that much more difficult. Those who work to find the wealthy their perfect vacation or residential home do so knowing that their clients expect results, but these clients are also willing and able to pay the price to make sure they get results. 

Sep 17

What You Need for College Housing

Once you are to the point in your life when you are moving out and going to college, there is a lot to think about. You are about to live on your own for the first time and you do not want to forget something important! You also want to be in an environment where you feel safe, helped, and welcomed. College housing can be fun to look for, but you need to know what characteristics are going to benefit you as a student and as an individual. Not only do you need a residential place to stay, you also need to make a list of what items you may need to purchase so you are starting college off the right way.

Interaction

The first thing you will want to look for is the right place to stay. When on the hunt for your perfect dorm or apartment, you need to look for a complex that gets their residents involved. There are housing options that have committees who specifically set up programs and activities for the individuals who live within the housing property. There are even blogs where people can leave photos and comments about the things they are doing while at college. It is a great and exciting way to become involved with your neighbors and possibly make new friends. 

Clear and Precise

The next thing you want to look for is if they have rules and regulations that are extremely clear to understand. You want a place that has structure, but you don’t want to live in a complex that isn’t clear about what they do and do not allow. If you don’t understand the rules of the housing area, you could end up being fined or kicked out for something you didn’t even know was wrong. Talk to the management if you have any questions or concerns relating to any policy. Also, make sure you understand your contract before you sign it.

Packing List

Lastly, before you go off to school, you may need to consider purchasing a few new items so you are well prepared. Search for items such as bedding, bathroom supplies, kitchen ware, storage bins, and laundry products. You don’t realize how many items you will not have when you go to college, and it is the worst feeling when you don’t have something you need. College housing can be fun and exciting, just search for the right place to live in and make sure you are well prepared.

Aug 01

You Need a Realtor to Get on the MLS

Utahns who wish to sell their home may be tempted to abide by the self-sufficient, do-it-yourself approach so prevalent in the local culture, but doing so can be counterproductive in this instance. Choosing not to use a real estate agent can have several drawbacks, which will almost always outweigh the savings of not paying a commission. For instance, without a realtor, a home can’t be listed on the Salt Lake City MLS, which means fewer people will know about the listing. Fewer potential buyers means fewer potential offers, which means a seller may not get their asking price and will almost certainly not be the beneficiary of a bidding war. When less people know about a home’s availability, it also means the house could sit on the market for a much longer period of time.

Another disadvantage of opting not to hire a real estate professional is the likelihood that a seller will price their house incorrectly. Realtors have access to databases that give them current information about the selling prices of comparable houses in the area and that help them to see trends in the market. They can assess the pace of the market, if it is in an upward or downward momentum, and pick out local market quirks and other things of note that will influence the pricing of a home. They are also trained to understand pricing strategies and negotiations, and can assist a buyer in finding the best starting point that will ultimately land them where they want to be on the sales price. 

Real estate is a world full of contracts, conditions, and fine print, which is yet another reason that going it on one’s own may not be the best choice. Unless a person is very familiar with both local laws and appropriate contract language, it is easy to make a mistake that could end up costing them several thousand dollars, if not the entire sale. Many who forgo a realtor and then run into contractual issues end up wishing they’d hired a professional, as it would have cost them less in the long run.

When a homeowner is ready to become a seller, their best bet is to resist the urge to act as their own agent and instead hire a pro who will put their home on the Salt Lake City MLS, price their home appropriately, and review their contract thoroughly. The money spent on commissions will be more than worth the investment. 

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