Selling Your CONDO

The procedure of selling a condo anywhere in the world be it St Tropez or Victoria BC is similar to selling house anywhere else. Couple of basic tips stays the same for all houses when it comes to selling them. Though there are certain differences about selling a condo. Every condo owner must be aware of these. The most important one is that your condo must appeal to the buyers, and as many buyers as possible to be able to choose the best price of it all. Make sure your condo looks the best in the entire market.

Ensure that your building is fine and does not need any repairs. If it does, get to work as soon as possible. Check whether it needs painting or getting new carpets. You should put your condo for sale only after all these tasks are completed. Looks do matter in case of buying a house, the more attractive a house looks, the more desirable it will be and hence many more buyers and a lot more option to choose from. While repairing make certain changes if you want to like get new fixtures for common area and that will make the buyer know for sure that the building is well maintained.

This might seem a bit funny but de-clutter your house. Remove the extra furniture from the condo; this will make the house look spacious. Remove the bulky furniture as bulky and heavy weight furniture does not go with the look of a condo. Go ahead rent a storage locker, believe me its worth the cost. Once the extra furniture is done away with, the condo would not need more than a month or so to sell. Store away your winter clothes; it will help the closets look larger. Most condo buyers look for an open design with lots of storage.

While selling your condo there will be technical documents involved. Which will include a property disclosure statement, which will make you answer questions about your suite and building. Know well about the building, all about its history, geography to science and economics. Know about the monthly meetings and the decisions taken in them and the bylaws as well. The realtor or agent you hired will surely get you a copy of these documents but going through the entire paperwork is your responsibility. This will save time and make the process of selling easier and much efficient.

Your condo might be occupied by a tenant, do not infringe on their rights. Know well how to carry over lease to new owners and about damage deposits. Hopefully you have an amicable relationship with them so they are accommodating and ensure the place is kept clean.

When you advertise in publications put up an interesting ad. When it comes to condo, ads using words bright and spacious attract buyers the most. Don’t have picture windows or exposure to the south. Put a lamp in the corner of the room; leave the drapes, curtains and shades open. Put mirrors on the wall, it helps to reflect light and make the place look bigger.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Luis Pezzini

Tips For Selling Your Own House

Not everyone is willing to use a real estate agent, since they do take a commission, usually around 7%. That means, by selling your own home, you’ll end up with upwards of $10,000 that would have gone to an agent. And given today’s slow market there is a very real chance your home will sit unsold for a year or more.

Today, more than ever selling your own house can not only be more profitable, but it is your best chance at getting it sold quickly.

In this article, I am going to show you how to go from „selling your own house“ to „I SOLD my own house“.

In a hot market selling may have been as easy as putting a „for sale by owner“ sign in front of the house and collecting offers. But let’s face it, times are tough and most houses are sitting unsold for months and years.

It’s a war zone out there. Foreclosures are at an all time high and that creates a lot of houses for sale on the market. In order to survive in a war zone you need special skills and a competitive advantage. With this special training you can get your house SOLD, despite the doom and gloom of the newspaper headlines.

If you’re selling your own house you need a secret weapon. And that weapon is highly specialized marketing!

Here is a killer marketing tip that will give you a competitive advantage over all other sellers on your block.

Don’t list your home in a traditional method. Instead of „starting high“ and being talked down do the EXACT OPPOSITE. Start low, get a lot of attention and let the buyers drive the price up. I am talking about a do-it-yourself auction style sale.

What is working best now is what’s called a „round robin auction“. Here is how it works:

First you will advertise that your home is for auction. In these tough times buyers are looking to get a good deal. Auctions are the place to get great deals, and your message will leap out at them.

Next you will hold an open house for two days only, Saturday and Sunday from 12 noon to 5 pm. This will allow you to funnel all the buyers through your doors all at once.

Those that are interested in the property will place their name and phone number along with the price they would like to bid on an „initial bidding sheet“.

On Sunday night you call all those people that put in a bid and conduct the auction. You will simply call down the list tell them the current bid amount and ask them if they would like to raise or pass. You will go around and around making calls until the highest and best offer has presented itself, hence the name „round robin auction“.

Now that you have found your buyer you will meet with them and get the paperwork started.

That’s the unique marketing method that is working now. And if you are planning on selling your own house there is no better method to attract droves of buyers and compel them to make offers on your house.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by N Big

Assessing the Real Estate Investment Property Before You Buy

If you’re in the market to purchase a real estate investment property it’s only natural that you’ll want to look at it before you make a decision about whether or not you want it. However, there is an art to doing this because if you miss something important, it can prove disastrous for you. Not only will your property not make you any money, but you may actually lose money. The advice that follows applies to all common real estate investments that you could purchase.

Look at the Neighbourhood

The neighbourhood is just as important as the property itself. If the potential residential real estate investment is nice but the area around it is not, this is a red flag that you may having trouble renting, reselling, or flipping properties you buy there.

There is another benefit to scoping out a neighbourhood. You may find out some information that may result in you buying an investment property for a better price by finding out about auctions or striking a deal with the owner. Also, you may find some investment properties for sale that you may not have heard about through your agent or the listings.

Beware of Inexpensive Properties

Property investing depends on whether or not you find a high quality property that will make you money. Every now and then you may find an investment property that is so inexpensive, it seems too good to be true. Still, you feel that purchasing something inexpensively is a good thing, especially if you’re in the business of flipping properties.

However, not every cheap property will make a good investment, especially if there is a lot wrong with it. That is why when considering investment properties for sale that it is important to view the property with more than one person so you can determine if it will be worth the investment.

Finding a Good Neighbourhood

Yes, it is one thing to tell people to avoid buying investment property in bad neighbourhoods. However, this is not something that can be considered from a „black and white“ perspective. There is a middle ground. Some neighbourhoods may not look bad on the surface, but they could have problems.

So, how do you go about buying investment property by finding a decent neighbourhood and a solid property to invest in? There are some clues to consider and you can start by watching the people in the vicinity of the property. In general, you just want to look for signs that the area is in good shape – no broken windows, people are well groomed, etc. You can also check with law enforcement to see what the crime rate in the area is. These are all factors to consider.

Buying a UK real estate investment property can be a big decision. It is important to assess the property and the neighbourhood to help ensure your investment will be a good one.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by I Clark

Top 5 Best (And Worst) REALTOR Slogans

Let’s get right down to it, shall we:

Best REALTOR Slogans

#5. „My job is your future“– Good. So you understand how big of a deal a home purchase is for me.

#4. „Purveyor of fine homes to fine people“ – Not bad; a little boring, but you have a good command of the language and demonstrate strong commitment to a targeted market.

#3. „Sold in 100 days, or I’ll buy it“– Does this belong in the top 5? Yes – because you stand out, commit, and I know I’ll have a guaranteed sale within 4 months.

#2. „I Never Forget You Have a Choice“– That’s what I like to hear – you’ll always have the right motivations while we’re working together.

#1. „Anyone can sell your home. I can sell it for more.“ – Strong, assertive and straight to the point. Let me put you to the test.

Worst REALTOR Slogans

#5. „A Realtor You Can Trust“– Sounds like something your parole officer told you to say.

#4. „No Fancy Punchlines – Just Great Service“– Does this constitute an oxymoron? (Definitely a moron)

#3. „It’s the Energy!“– What does that even mean? I think your doctor over-prescribes stimulants… Out of curiosity, what’s his name (my friend wants to know…)?

#2. „Everything I Touch Turns to Sold!“ – Ha ha! It’s funny, I’ll give you that. But now that the joke’s over can you introduce me to a real REALTOR?

#1. „Spouses Selling Houses“ – Do you include domestic disputes with showings?

Conclusion

This was a tough article to write because there are at least 20 terrible catch phrases for every good one. Some rules of thumb:

  • Use common sense – No one wants to hear you state the obvious – and no one is interested in self-indulgence. There’s also not much room for humor (there are exceptions of course), so keep it professional.
  • If you say something bold in your slogan, make sure you’re willing to eat, sleep, and breathe by it.
  • If you can’t come up with anything good, don’t worry: Clients won’t notice that you don’t have a catch phrase, but you might lose clients if you have a bad one.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Samuel Prochazka

Important Tips to Consider When Selecting a Real Estate Agent

The ample amount of online information regarding how to hire a real estate agent can be helpful for homebuyers and sellers, but finding the right one can still be a challenge. Professional agents should have the necessary skills and expertise to help find exactly what the client desires. These four qualities can clue in buyers and sellers that a real estate agent is a great choice.

Suggests Realistic Prices

When planning to sell a house, it is recommended to get listing presentations from several agencies. They will provide the market prices of comparable homes, as well as the amount of time it usually takes to sell similar properties. Working with professionals to ensure that a home is priced appropriately will make the process less time consuming and stressful.

Works Full Time

Some real estate agents connect home buyers with sellers as a part-time job; however, it is wise to choose one who works in the industry full time to get the best results. Such professionals are in a better position to provide accurate recommendations and tips as they have more experience and a deeper understanding of the industry. A full-time agent will likely spend more time scouting for a home on various listings or showing prospective buyers the house to ensure that the clients acquire or sell a property quickly and at the right price.

Charges an Appropriate Commission

In most states, the commission ranges between five and seven percent and is split between the selling and buying agents. Ask agents about commission rates when putting a home on the market or beginning a new home search. This is an ideal method to ensure that all parties understand the agreement. Also, be sure to ask about any offered rate rebates, as some companies actually pass on a percentage of the commission to the seller or buyer.

Has Experience in the Area

A buyer who is interested in purchasing a full-time residence should pick an expert who specializes in selling such properties in the area. On the other hand, people who are looking for investment properties are better off working with someone who has been facilitating such deals with other investors for years. It is also important to note that most professionals in this industry have multiple specialties.

Even if a candidate meets these four qualities, organize a face-to-face meeting with the home expert to get a full picture of his or her skills and expertise. Most professionals are more than happy to speak with potential customers to answer questions. Finding a real estate agent by following these guidelines will make the entire process of buying or selling a home far simpler.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Alfred Ardis

How NOT to Hire a Real Estate Agent

If you do NOT read this report you will almost certainly lose thousands of dollars when you sell your home…

Home sellers don’t know how to spot a good real estate agent

This is understandable when you consider that you will only buy and sell one or two properties in your lifetime. Your home is probably your biggest asset. So, be careful whom you choose to sell it; one slip-up from an agent will wipe thousands off your selling price.

Ask the right questions

Many home sellers ask the WRONG questions when they interview an agent. They ask questions such as „How much do you charge?“ or „What’s my house worth?“. While these questions are important, they should only be asked after the agent has told you what they’ll do for you and how they’ll get you the best price.

This report is your guide to hiring a real estate agent. I’m going to show you how to spot and select the best agent to sell your home. After all, I believe there’s no one better to sell your home than a highly skilled agent. The problem is that highly skilled agents are hard to find.

WARNING! Don’t settle for second best. Too many sellers make the mistake of picking the ‚best of a bad bunch‘. You could be better off without an agent

Check out your agent

It’s a sad fact, but many people don’t check-out their agent until after they have signed with them – by then it’s too late. After you sign you’re stuck; you could be locked into a ‚minimum 90 day‘ contract.

The questions and information in this report will give you the knowledge you need to keep the power when you’re selling a house. After you sign you lose your power.

Agents love to say they are all different but basic research will prove most are the same. It’s the ‚cookie cutter‘ approach when it comes to selling your home – every property is sold the same way.

What to look for when choosing an agent

In 2006 Neil Jenman (my Dad) was asked to provide a list of questions, comments, and hints to help home sellers choose an agent for a TV show he was hosting. He called his list of questions and comments, GUIDE TO GRILLING AGENTS. Over the last few years I have given the guide to many home sellers. This report contains many of the questions and comments in his original guide.

What does a good agent look like?

Most agents will be well dressed, on time, and prepared. But the best real estate agents will be the ones who put your interests first. They will offer solutions that suit you first, not them.

Agents who ask for money to advertise your home should rarely be hired. After all, if advertising was the only reason your home sold why do you need a real estate agent?

Questions are the answer

Sometimes the answer to one good question will give you the confidence you need to hire the best agent to sell your home. Good questions do the hard work for you. Before you jump in and start grilling real estate agents, take a step back.

Put your home buyer shoes on. And start with a mystery shop…

MYSTERY SHOP

Department stores do it, so why shouldn’t you? Use the ‚process of elimination‘ to weed out the poor agents. Why bother interviewing a real estate agent who doesn’t bother to return buyer’s calls? Start with an email. Approximately half of all buyer enquiry arrives via email.

If you send out 10 emails to 10 local real estate agents, I can almost guarantee that you will not receive 10 replies. If only 5 reply, then you have just saved yourself having to interview 5 agents. Include your phone number in your email. Do they call you back? Or do they just email a standard response? An agent who follows up with a call has a much better chance of ‚closing a sale‘ than an agent who sends a standard reply.

QUESTIONS ARE YOUR BEST WEAPON

If you don’t ‚test‘ your real estate agent before you hire them – one thing is for sure – the buyers for your home will do it for you.

What follows are questions that have proven to be a huge help to sellers.

REMEMBER: You are the owner of the property. You are considering employing an agent to sell your property. You are the boss. You have the power BEFORE you sign up. Make sure you keep that power at all times. Control the agents, do not let the agents control you.

Your home’s selling price is determined by your agent’s ability to negotiate

• HOW ARE YOU GOING TO GET THE BEST PRICE FOR MY HOME?

When you ask this question many agents will start throwing around the word negotiation. You want to be certain that they are capable of negotiating a high price for your house, ask them to teach you something about negotiation.

Question their ability to negotiate.

Ask them what they know about negotiation. It’s a big point that most home sellers miss because they focus on what the agent says rather than on what they do.

Here’s one of my favorite questions to ask a real estate agent:

• WHEN/IF YOU BRING ME AN OFFER, HOW CAN I BE CERTAIN THAT IT’S THE ABSOLUTE BEST PRICE THAT THE BUYER CAN PAY?

Many real estate agents will have difficulty answering this question. It’s a question that’s rarely asked of agents. Ask it. The answer will tell you a lot about an agent.

Some more questions you can ask are:

• Are you a good negotiator?

• Can you tell me some of the main points you know about negotiation?

• Can you give me some examples of the results of your negotiating ability?

The Biggest Liar Gets the Job

When hiring a real estate agent, the biggest liar (the agent who quotes you the highest price) often gets the job. It’s an old (and very true) real estate saying.

Unfortunately many home sellers hire liars. This happens because people who hear what they want to hear don’t perceive the information as being a lie.

One of the best questions you can ask is:

• WHAT WILL YOU DO TO GET THE BEST PRICE FOR MY HOME?

Once you are satisfied with the answer then ask:

• WHAT PRICE DO YOU THINK YOU CAN SELL MY PROPERTY FOR?

Most agents will try hard to hedge around this question. They may be vague and say such things as „It depends on the market,“ or they may use the common ploy of answering a question with a question, such as, „How much do you want?“

Sellers should stand firm and press the agent on this point by making such comments as:

You are the agent, you sell lots of properties in this area, surely you know how much you can sell my property for – even if you have to give me a range. After all, you are the expert, aren’t you?

Once the agent has given a [verbal] quote, ask the following:

1. Will you give me that quote in writing?

2. Do you usually sell properties for the price that you quote the sellers?

Regardless of the answers, don’t dwell too long on any point at this stage. Just keep the questions rolling…

It’s not what you pay an agent, but what they cost you, that counts.

• How much commission do you charge?

Most agents will talk about ’standard rates‘ or they will say that the rate is recommended by the Real Estate Institute – this is to soften the shock. Sellers should make comments such as:

Is your fee negotiable?

Have you ever reduced your fee for anyone?

If you should ask me to accept a lower price than the price you have quoted me, will you also accept a lower fee?

NOTE: Be wary of agents who cut their commission to get your business.

These agents are often poor performers who rely on discounts to get you to sign with them.

• What is it about you and your agency that makes you better than other agents?

This is a great question. The agents all want to say that they are „the best“ but they will struggle to define what is meant by „best“. Of course, „best“ to a seller means the highest price with the lowest risk and the lowest cost.

The Issue of Advertising

With almost every agent, advertising will be a big point. Be careful, this is the most common way in which thousands of home-owners lose thousands of dollars without selling their homes!

The Golden Rule when selling a home: Never pay any money for any reason to any agent until your home is sold and you are satisfied.

The Silver Rule is this: Don’t sign anything that requires you to pay any money [in the future] for any reason if your home is NOT sold.

Some agents will say „you don’t have to pay for advertising until your house has sold“ but what they fail to mention (or make clear) is that if your home fails to sell you will still have to pay.

Here are some comments and questions that can be made to an agent which show the absurdity of the advertising policies in most real estate offices.

• Why do you expect me to pay for the advertising to find a buyer? Surely the commission should include advertising?

• Why should I pay twice – once for advertising and once for commission?

• If you put ads in the newspapers [and charge sellers for those ads] and the buyers are going to come via you, what are you doing that sellers can’t do for themselves?

• If you advertise my home and I pay for the ads and you get calls from buyers and those buyers buy a home other than mine, do you give me any money back? If not, why not?

• If I pay you [thousands of] dollars for advertising and you do not sell my property, what happens to the money I paid?

• I notice that your advertising has your name and the name of the agency prominently featured. Surely I don’t have to pay the cost of advertising you and your agency?

• Based on the length of time you have been in business and the number of people who contact your office, don’t you already have a list of buyers on your books?

• I am not going to be paying any money to any agent for any reason until my home is sold. Once my home is sold within the price range that you quoted me, I will be delighted to pay you a GENEROUS commission as a reward.

This is my firm policy as a seller. Do you accept my policy?

Random comments and questions… [or other ways to make the same major points] might include…

• I want an agent who will get me the highest price at the lowest cost with the lowest hassle and, of course, without any risk of loss if there is no sale. Are you comfortable with being able to meet these simple requests of mine?

• How many properties do you sell? (Let them ask you if you mean weekly, monthly or annually, to which you reply that the time frame doesn’t matter. You just want to know that they are capable of getting results).

• What provisions do you take to ensure the security and safety of my home when it is being shown to prospective buyers?

• If I find a buyer – such as a close friend or relative – will you want me to pay you any commission?

• Have you ever had any unhappy clients?

• What were they unhappy about?

• If I employ you and I am not happy with your performance, I want to be able to dismiss you without any penalty to me. Is this okay by you?

• The agent I choose will be given an initial time period of 30 days on the selling agreement between us. If my property is not sold in 30 days and if I’m happy with the performance of the agent, I will be happy to extend the term of the agent’s appointment. Is this okay by you?

SELLERS‘ TERMS & CONDITIONS

Get the agent to agree to your terms BEFORE you agree to the agent’s terms.

Finally, the biggest and most important point of all for home sellers – DO NOT SIGN the document that the real estate agent asks you to sign – at least NOT on the agent’s first visit.

Ask the agent the following questions:

• If I decide to employ your agency to handle the sale of my home, what document will you be asking me to sign?

• Can I have a copy of that document so that I can get some independent advice about it?

• The following is the start of your final words to the agent at the end of the agent’s first visit…

As I am the owner of the home and as I will be employing an agent, I will be preparing a list of my own terms and conditions under which I employ an agent. I will be asking the agent to sign my terms and conditions before I sign any terms and conditions prepared by the agent. Further, if any of my terms conflict with the agent’s terms, then, of course, my terms will take precedence.

• Are you okay with me, as the owner of the home, telling you, the agent, what I require you to do?

Thank the agent for coming and tell the agent that you will be in touch should you require the services of his/her agency. Stand up, shake hands, walk towards the exit or front gate. Wave goodbye.

Smile, you have done well. You are in control.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Lloyd Jenman

Professional Real Estate Photography is Crucial to the Selling Success of Your Home

Nowhere is this more true than on the web where the majority of home buying searches are conducted- „web appeal“ is the new „curb appeal“, the lure that draws buyers in. Today’s prospective buyers are used to quality imagery in other marketing venues. Appealing photos will rivet the prospect’s attention, whereas homes with so-so photos may well be passed by.

When selling your home, you hire a Real Estate agent to do the best job marketing of your property. Agents are experts in the business aspects of the selling process; research, pricing, advertising, negotiating and closing. But, the centerpiece in your listing-pictures-is a photography expert taking them?

Grabbing a point-and-shoot and photographing a home seems to be a reasonable option. Often, one can get good shots simply though luck. However, many aesthetic and technological difficulties must be overcome in order to result in the consistently great photography needed in today’s multiple-photo listings.

Internet display systems, known for showcasing still photos, panning slide shows and virtual tours, are another tool available to realtors. These products are only as good as the photography used within. Use poor photographs and you get a poor photo housed in a slide show or tour.

Photography is a highly specialized industry-all photographers are not the same. A good portrait photographer does not necessarily make a good real estate photographer because the photographic challenges and thus, training, are different. Architectural photographers are not the best choice because they charge a significantly higher rate that cuts into your realtor’s bottom line. Professional Real Estate photographers give you similar results at a good price point.

Top-of-the-line equipment aside, professional real estate photographers have more than just a good eye. They know exactly where to put the camera, and are skilled in holding it straight. Professional photographers are experienced at reliably producing multiple uniformly-good shots of every house. Exteriors are taken from the best angle and trumpet blue skies and puffy clouds. Interior shots are well-composed, evenly lit and clearly convey accurate visual information about the space you are looking at.

Photos rarely emerge from the camera ready for display. They require post-shoot processing and this is where the Real Estate professional photographer excels. Great real estate photographs „pop“ off the screen or page. They look and feel bright, light, open, and inviting. When done well, the viewer does not know why they like them, they just do!

Ask yourself which listing you would rather be: You are viewing two comparable listings, one with a few photos that are somewhat dark, feel cropped too closely and a little hazy. The other listing has clear, detailed photographs of the outside setting and main rooms of the house. It’s clear which is going to generate more interest, showings and a potentially quicker sale.

So what can you do to get the best photography for your listing?

Examine the existing listings of your prospective agents. Do they feature excellent photos? Are there a half dozen or more pictures on the web listings? Professional Real Estate Photography is done at the agent’s discretion. If the agent you choose doesn’t use professionals, insist that they do. Those that do see the results. And so will you.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Laurie Exner

What You Need to Know About Selling Your Condominium in Today’s Market

In today’s California condominium market not only should the seller prepare the unit for sale, but the seller should be prepared with certain information about the homeowner’s association–prior to listing. Do you as a seller know how many owners live in the association? Are you familiar with your association’s Conditions, Covenants & Restrictions (CC&R’s)? What about upcoming assessments for planned maintenance work on the common areas?

You’ve worked hard repainting your unit, cleaning the carpeting and possibly upgrading the countertops in your kitchen and bathroom, and you’re ready to have buyers take a look. Then perhaps you obtain an offer from a motivated and excited buyer and you open escrow and plan to close in 30 days. But wait, have you considered other issues that could impact your sale?

For instance, did you know that having less than a 50% owner occupancy ratio means you may need to obtain an offer from an all cash buyer? Unfortunately, many condo owners do not realize that with a higher number of rental units comes a lower probability of buyer mortgage financing. Many lending sources have a higher criteria than required under FNMA loan rules, and may require 70-75% owner occupancy before agreeing to your new buyer’s loan. At a minimum, 50% owner occupancy is required for FHA loans (this applies only if your building is FHA approved, by the way). In a 32 unit building for example, 16 renters will be too much. Lest you think otherwise, this situation is not unheard of and in fact exists in a very upscale area where the owners don’t want to let go of their units after they have moved on to a single family house. It has presented a lot of difficulties for those owners who wanted to sell. If you wait until you are in escrow for the buyer/buyer’s lender to find this out, much time will have been wasted and the transaction may end up cancelling. Wouldn’t it be wise to bring this issue up to your Board of Directors so that the general membership could review the policy for handling rentals?

Property owners should not be living in oblivion while allowing their association’s owner ratio to decline year after year. This could mean the difference between selling a unit while it still has equity or as a successful short sale, or forcing one into foreclosure because the owner has no other way out of their situation because no lender would grant financing and no all cash buyer could be found. A foreclosed unit in an association means a drop in collected owner’s dues and a possible increase for remaining members, or at the least a lack of contribution to normal operating costs. Plus, the market value of all units in that association may be impacted if it now becomes impossible to obtain financing, or cash buyers bring in „lowball“ offers to a desperate seller. Typically, a lender’s HOA Certification submitted to the Board or property manager may ask how many owners, how many renters, and how many vacant units. You can circumvent wasted time by contacting your Board or property manager beforehand to obtain this information.

Let’s say the owner occupancy ratio is still fine, but there are delinquent owners in the building, possibly due to loss of employment, or units already in foreclosure. Did you know that if an association has over 15% of its owners 30 days (or more) behind in their association payments, the lenders will probably not make a loan until that number is decreased to less than 15%. In a smaller building of 30 units, that would take only 5 units. What if those particular owners are foreclosures held by a bank which is not paying dues until the unit sells, or owners who have abandoned their units and are unreachable? Has your Board of Directors suggested a remedy to assist current sellers in good standing? This is information you the seller should look into before you list your property. Why wait until you’re in escrow and then find out the lender won’t go forward due to this issue? Again, your Board of Directors (possibly the Treasurer) or your property manager representative should be able to quickly provide you with this information.

These are two of the biggest issues that a seller may confront, but others may include whether or not your association has a reserve study–how much money is set aside in your annual budget for reserves? Ideally it would be about 10%. Does your association have CC&R’s updated in the last 5 years, or are you still operating on your original documents that are probably very out of date with today’s laws? What is the pet policy in your building? Many buyers have pets and will need to know in advance what to expect, i.e., two dogs may not be allowed, but one dog under 35 lbs is allowed. Are you aware of any litigation within the association? This is a disclosure asked of California sellers in which lenders have a direct interest in the risk of lending there, depending on the particular issue.

In a homeowner association, the concept of „the greater good“ is very close to the surface. Members of an HOA are bound together by a particular legal umbrella found in the California Civil Code that does not exist in a non-association neighborhood. Condominium living was and is really meant for the owners who plan on living there, and it may not work well for long-term absentee landlords, because now more than ever, the transfer of these units is greatly controlled for the first time by mortgage lending criteria.

For more real estate information please visit my websites. I would be happy to respond to any questions concerning this article, or condo selling in general.

http://www.longbeachrealestate.blogspot.com

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Julia Huntsman

Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced Properties Are Available…

Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced properties are available if you know how to buy them. By Jody Hudson – Realtor since 1972. How to FIND and BUY: Cheap Bargain Real Estate, Good Deals, Below Market, Low Priced and Less Expensive; homes, lots, land, businesses, and condominiums. They are everywhere and easy to find. Here is how to find and buy them from anyone, anywhere. This article lays out the steps: How to find and buy a Bargain, A Good Deal, in real estate; that is; how to get it real cheap! Yes, there are ways! Nearly every call or e-mail that I get is asking me to find the buyer a bargain. We all feel that way when we are buying as well. All of us want a good deal. We all want to get cheap real estate. And we can all do it. There is a bit of a challenge however. Every single buyer that I’ve ever had in my thirty two years of selling real estate has wanted to sell the property they have for more than it is worth. Herein lays our challenge as Realtors — and of course for you as purchasers. To get those HOT deals in real estate there are at least three things you must do: 1. First of all as a buyer you must be able and willing to act faster than any other buyer. 2. Second you must be able to know a bargain when you see one. This takes experience and education in the specific market . Any assumptions made from other markets, about the subject-inteded market, will sentence you to certain failure… 3. Third you must BUY it. That is write a deposit check and write a contract that will win over the other contracts that may be presented at about the same time as yours. This group of three steps, sounds simple, but only about one buyer in each ten year period is willing to do these three things in order to get the cheap property they have asked us to find for them! I have several people, and so do most Realtors, that are the most; ready, willing and able and we call them first! If you want to be one of the ones called you must be MORE ready, willing and able! Recently, August 2002 the waterfront home next to ours was listed for sale for $249,000 and it was worth at the time about $350,000. Kate and I called each of our family members, our wonderful neighbors on the other side (one of whom is a local builder and the other a mortgage broker) and some of our best clients and a best friend of ours, a builder and investor, who had already said he liked the fine home. (Note that property is now worth about $800,000 Sept. 2004). We explained that the home was going on the market in a few hours and that they must act fast. Our neighbors on the other side, the most knowledgeable of the bunch wanted to make an offer of $180,000 saying they thought that was all the property was worth. They knew better or at least should have and they should have bought it. They just „hoped“ they could get it for less and that they didn’t have to move fast. The offer they made was ignored and wasted our time. They did however get another property in a few days, for a lot more money, that was worth a lot less, as a result of improved alertness and awareness after losing the one next to us. Our savvy investor friend put in a couple of offers below the asking price with several contingencies. Meanwhile we are telling everyone to write a contract for full price with no contingencies and calling on both our phones as fast as we could call. None of our best friends or family would pay attention. They were ALL too greedy. They knew the property was far under-priced but wanted it for even less… Lesson: when it’s a good deal – ACT instead of getting more greedy and losing the deal totally. Then our lovely new neighbors came and saw the property. They also were knowledgeable about similar properties, and had lost several properties they liked by moving slow, writing unreasonable contracts and not paying attention to real values. This time they did it correctly. In fact they wrote a contract on the spot, with no contingencies, and for MORE than full price so that if anyone did offer full price they would still have the best chance. They paid $5,000 more than the full price on the spot, told the sellers they could have settlement any time they wanted it and before they even heard back from the sellers they arranged for a mortgage of MORE than they needed and asked for the money to be immediately available. They did not ask for a home inspection, a survey, or for the sellers to fix anything. The home is 30 years old and has not had one bit of maintenance. There was a burst hot water tank, a roof that needs replacing and a few HUGE cracks in the foundation. All these problems cost them about $15,000. They have, as I write this, owned the property for several months and worked on it every weekend, before they could take a break and enjoy it. They love it. If they were to fix all of the things that need fixing, paint the trim and freshen up the yard and landscaping; we could get $900,000 to $950,000 for this home for them in a few months on the market. And, city sewer will be here in a few years, at that point the property will instantly go up another $200,000 and all the people we called knew about the pending sewer too. The buyers didn’t find out about the sewer coming to town until after they had contracted to purchase the property. The sewer is still not in — WOW. They are glad they did the One, Two, Three to make it happen! By doing the three things listed above the purchasers of the home next to us have made the wisest purchasing decision thus far in their lives and have one of the best bargains that have been available in the last several years. The sellers are happy too as they just wanted to sell it as fast as they possibly could, due to a sudden and dangerous illness of one of the owners. I’m writing this article to serve you the reader. But you must know it is self serving as well. Much of our time as Real Estate Agents is spent trying to successfully educate our buyers and sellers. If they would take our advice they could be far, far, more successful in selling or buying. The articles I write here [http://www.kate-jody.com/essays/index.html] are those advices that I give my customers and clients – if they ask. Most don’t and when they do, very few take the advice. Just like in every other profession, we the professionals do what we can to help those who come to us but it’s up to them to take the advice. Bargain homes are always available – but hard to sell. They are homes that are in need of some repair or cosmetic improvement or that are in an area of transition. We have several on the market right now and they are hard to sell. Someone with vision will eventually purchase them, fix them up and perhaps sell them at a huge profit – often to someone who says they want a bargain but won’t do what it takes to get a bargain. Funny isn’t it, and this sort of thing happens all the time. It has consistently happened in my 35 years in the real estate business and being a licensed Realtor since 1972. Just know this, if you want a fixer-upper, so does everyone else, but you need to be very, very, educated and able to spend the time and money to renovate the property effectively and affordably. And, you need to do One, Two, Three! If you want a bargain; educate yourself and be ready to DO — One, Two, and Three. We’ll try to help you. By Jody Hudson Copyright 2002-2004 www.Kate-Jody.com Jody Hudson: MrJodyHudson@earthlink.net

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Jody Hudson

Sarasota Real Estate

Located on Southwest Florida’s Gulf coast, Sarasota is a modern day paradise. Sarasota has all the charm of a southern town with the conveniences of a big city. Pristine white sand beaches, five star resorts, country clubs, world-class shopping and fine dining, Sarasota has it all. Sarasota has the highest per capita income and is home to major symphony, ballet and opera companies. According to reports in the Money Magazine, Sarasota ranks among the 15 most livable communities in the United States, naming Sarasota County „the nation’s per capita arts capital.“ The 1,800-seat Van Wezel Performing Arts Center has attracted productions like the Broadway road company of Chicago. The Ringling Museum of Art is renowned for its extensive collection of American and European art.

Waterfront estates and new golf course condominium communities have been designed to complement the historic districts and neighborhoods, which are preserved with pride. Sarasota County includes Venice, Northport, Longboat and Siesta Keys.

A scarcity of land coupled with increasing land values led to a considerable increase in real estate prices in Sarasota. Yet, prices are a bargain when compared to other areas such as Naples, Boston, San Diego and Washington, DC. The median price for a home is around $130,000. Investors flock to Sarasota to buy condos and luxury waterfront properties that offer spectacular views of the Sarasota Bay. Listings for waterfront luxury properties in Sarasota range from $5.4 million to $20 million. There are spectacular golf course homes for golfers in the communities of Lakewood Ranch, the Meadows and Forest Lakes

Once known primarily as a vacation or retirement destination, Sarasota today is home to diversity with mansions and private waterfront estates mingling with old Florida cottage charm. Almost half of Sarasota County’s population is in the prime working age range of 25 to 64. A great year-round climate, an abundant employment market, leisure activities and excellent schools attract abundant creative and upwardly mobile communities. This includes entrepreneurs, real estate investors, skilled workers and professionals who thrive in a paradise revolving around sun and fun.

Immobilienmakler Heidelberg

Makler Heidelberg



Source by Jennifer Bailey

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