Lakewood Ranch

150 150 Relevé Real Estate

Florida Foreclosure Pain

Florida Foreclosure

florida foreclosure

Florida Foreclosure activity is on the rise as Florida continues to have one of the highest rates of foreclosures in the nation. California and Nevada round out the top three and foreclosures were reported as increasing 32 percent from last year.

This means that more bank reports are on the way and depreciation of Florida real estate values will continue.

The bottom is still a long way off, and investors should be patient, consider cash flow and ask “what if this property depreciates 3% per year for the next ten years?”.  Florida Foreclosure pain continues.

This statement is worth noting “In Florida, one in every 135 households received a filing in April.”

From Wikipedia, a Florida Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower, who has stopped making payments to the lender, by forcing the sale of the asset used as the collateral for the loan.

Formally, a mortgage lender (mortgagee), or another lienholder, obtains a termination of a mortgage borrower (mortgagor)’s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).[2]

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate,[1][2] is an ongoing and unresolved issue in the United States and refers to an apparently widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks, including Bank of America, JP Morgan, Wells Fargo, and Citigroup temporarily responded by halting their foreclosure proceedings in some or all states.[3][4] The foreclosure crisis has caused significant investor fear in the U.S.[5] A 2014 study published in the American Journal of Public Health links the foreclosure crisis with an increase in suicide rates.[6]

One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [7] [8]

Relevé Property Management – Lakewood Ranch, Bradenton & Sarasota

150 150 Relevé Real Estate

Days on the Market

Number of days on the market is the ‘other number’ to look at.

days on the market

When looking at comparable properties to see how much to list your property for rent, you not only have to look at the listing price, but also the number of days the property has been listed.  A property listed for $1500 per month and sitting vacant for a year is worth $0 that year.  The same property listed for $1000 per month and leased after one week is worth $12,000 that year.  The rental rate is not determined by what you think it should rent for or the exorbitant rates listed for similar properties.

The rental rate is how much the new tenant agrees to pay when they sign the lease and put down the deposit.  Nothing else.

Recently, we had a new buyer believe they could get higher rent then what we were getting.  The $900 per month didn’t seem like enough when there are similar properties listed in the neighborhood for $1200 – $1400 per month.  But if you look at the other number, number of days on the market, those properties had been listed for 9 months to over a year.

I’d rather have the $900 per month and my $10,800 per year, than $0.  Vacancy kills real estate investments.

Look online to get a ballpark range of what to list your property for.  Start on the high end and then lower it every few days until you are getting enough phone calls.  In this ‘owners’ market for rentals, there will be plenty of leads once you get the right price point.

For expert property management in North Tampa, Florida contact Relevé Real Estate and Property Management

150 150 Relevé Real Estate

It’s Not You, It’s Not Your Home, It’s Your Real Estate Agent

pile of cash

See this pile of cash? It doesn’t belong to you and you know why? Your realtor is being unrealistic and greedy about your property.

We have a client who is interested in a townhome in a particular area. We have one in this neighborhood and know without a doubt the competition is over-priced. Rentals sit 6-months, 8-months, 1-year or longer vacant. Why? Your rental is over-priced. Period.

I called a realtor to ask about a rental that has been listed and vacant for 6 months to see if the owner was flexible in the price. I told her that I had a great client interested in the home, but wanted to pay a more reasonable rent for the unit. With disgust, I was told that the building covered all utilities which was included in the rent. I told her I knew that was not true because we have the exact same property in the neighborhood. Well not the same. Our is updated and upgraded. She then back-peddled and said well the owner wants to rent it furnished only. On the MLS listing, it states “furnished, but will consider unfurnished.” So the ad was misleading or the realtor was a liar.

I asked again about the price. I stated about the home being listed for 6 months and sitting vacant. Is the owner flexible? Again, I was given the run-around. Never once did she say she would present an offer to the owner.

Can this realtor read minds? I can’t. As property managers, we present all offers to owners. Ultimately the decision lies with you, the owner. You should decide whether to reject or accept an offer. Not a realtor.

I believe putting the owner in the driver-seat is what gives us so many happy clients and great reviews.

I never asked what the commission would be on the property. I never wanted a commission. I wanted to find a home that met my client’s needs.

Did this realtor ever stop and think, “my client has been losing thousands of dollars because his home is sitting vacant?” No. She heard reduced price, saw her commission drop and never consulted the owner. Would the owner accept a lower offer? We will never know because he will never be asked.

My client never saw the property or put an offer in. Why? A realtor discouraged an amazing tenant from a property that needed a renter.

So, this pile of cash continues to sit untouched.

For honest, reliable property management in Pasco, Hillsborough, Manatee and Sarasota counties, Florida, We Manage Your Investment.

150 150 Relevé Real Estate

USDA Mortgage Loan

USDA Mortgage Loan

usda mortgage loan

Where’s the beef?  How about a nice, juicy 100% loan with a check for $8000.  Mortgage bankers do a considerable amount of USDA loans, and the borrowers are getting in with no money down and cash back at closing.

The United States Department of Agriculture Rural Development division offers attractive loans in order to increase the development of rural areas.  In order to qualify, you must meet income guidelines and the property must be in a designated USDA rural area.  If you were not planning on buying a farm, you should look at the property eligibility page.  I was surprised to see that everything east of I-75 was considered rural, this includes Lakewood Ranch and other areas that are you wouldn’t think of as rural.

For investors, a good property manager in Tampa, Florida can save you thousands of dollars a year.

In order to get the $8000 check, you must be a first-time homebuyer.  To be considered a first timer you must not have had ownership interest in a property within the last 3 years.  The 8k is not free, it is a loan that must be repaid and will be deducted from your income tax refund.

Here are the advantages of a USDA Loan:

  • The government’s repayment guarantee (should the buyer default) allows lenders to be more generous with interest rate offerings and more lenient credit standards than they would be on a comparable conventional loan.
  • There is no pre-payment penalty for a USDA-backed loan.
  • The mortgage can also be used to purchase some manufactured homes.
  • The USDA loan can be used to refinance a home as well.

Here are the disadvantages of a USDA Guaranteed Loan program.

  • There is an upfront fee of 2.75 percent of the loan amount. Now, there is a bright side to this – it will be added to the loan so it’s not money you’ll need to pay out-of-pocket.
  • There is another fee, amounting to 0.50 percent, that is similar to the mortgage insurance premium for FHA loans or private mortgage insurance on conventional loans. This fee stays in force for the life of the loan and is paid annually.
  • Both the lender and the USDA subjects the loan to underwriting so expect closing to take a few weeks longer than other loans.

If you are considering buying a home, make sure you consider future depreciation and buy well below market value.  Also, explore all of your options including USDA loans, the property you want may be considered rural and you may get paid to buy it.

Tampa, Lutz, Land O Lakes, Odessa, Carrollwood and Citrus Park Property Management

150 150 Relevé Real Estate

Florida leads House Flipping

Florida leads House Flipping

Recent Data from RealtyTrac shows an increase in year over year house flipping.  This is when an investor buys a property and then sells it less than one year later.  The investor usually has to do at least some cosmetic improvements and is likely to make a profit from the sale.

With the increase in flipping, Florida cities dominate the list of the top areas for home flipping.  Florida had record numbers of foreclosures and houses are still not keeping up with demand, so the statistics make sense that there would be an increase.  However, house flipping also reached a peak right before housing crashed in 2008-2009.  Many investors took substantial losses on speculative home flips.

However, house flipping also reached a peak right before housing crashed in 2008-2009.  Many investors took substantial losses on speculative home flips. The current list is showing 25- 50% year over year increases in home flipping in these cities.   To be successful in house flipping, you need to do an effective analysis on what the costs will be for you to purchase, renovate and hold the property and then know what the market will support for a sales price.  Generally a real estate investor is expecting to make at least 25% profit before they take on a house flipping venture.

Before investing you should talk to a local, Lutz, FL real estate and property management company to advise you on purchasing, managing and selling your investment property.

Here are the Florida cities mentioned in the list.

17. North Port-Sarasota-Bradenton, Florida

 15. Palm Bay-Melbourne-Titusville, Florida

14. Crestview-Fort Walton Beach-Destin, Florida

11. Pensacola-Ferry Pass-Brent, Florida

9. Deltona-Daytona Beach-Ormond Beach, Florida

8. Ocala, Florida

4. Homosassa Springs, Florida

3. Jacksonville, Florida

1. Lakeland-Winter Haven, Florida

rent or own
1024 738 Relevé Real Estate

Rent or Own on a Fixed Income

rent or ownThere has really been an expansion in more seasoned tenants in the course of the most recent 10 years. Those beyond 55 42% years old add to around 42% of the rental market now. This rate is anticipated to increment as Baby Boomers apparently take after the same way.

It’s vital to comprehend the advantages and disadvantages however of picking amongst leasing and homeownership. How about we separate every one so you can better choose theater or not you ought to spring for that home after retirement.

Ace: Bye Mortgage

On the off chance that a huge center for you is the way that despite everything you’re chipping ceaselessly at that home loan then obviously you’ll be cheerful to lease. One less thing to stress over when you at long last resign. You may even discover a spot to lease that has a lower month to month cost than your home loan. So you do can possibly be sparing cash here.

Con: Bye Tax Breaks

Mortgage holders get generous tax reductions. There are reasonings on the property charge and in addition the enthusiasm on the home loan. Saving money on these assessments can include altogether particularly if your property expenses are fundamentally high.

Genius: Flexibility

In case you’re truly concentrating on going after you resign then leasing will be perfect for you. Leasing gives you the adaptability to bob around either on a month to month premise or 6-month premise. Be that as it may, in case you’re hoping to stay in one city/place for a more drawn out timeframe, possibly close to your family. Think about owning as a home.

Con: Bye Home Owner Status

A great many people have a feeling of pride from being a mortgage holder. On the off chance that you’ve lived in your home for some time you’re presumably candidly connected to it. So it’ll be critical to set yourself up sincerely in case you’re anticipating offering your home.

Star: Maintenance

Clearly a standout amongst the most difficult things of home proprietorship is staying aware of the home upkeep. In case you’re leasing this isn’t an issue for you any longer. On the off chance that you choose to offer your home these stresses can fall onto your landowner’s shoulders.

Con: Renting can be costly

This one truly shifts relying upon where you live. Ordinarily anyway, it is less expensive to possess a home than rent one. Additionally when you consider the low home loan rates today it’s one of the best times to possess a home. The home loan rates have as of late hit an untouched low of around 3.25%

Genius: Amenities

One of the enormous ace’s encompassing flat edifices is that a large portion of them offer you an extensive variety of civilities. Everything from a pleasant rec center to a pool and even diversion rooms and office focuses. You can even have an attendant on staff and in case you’re resigning that can make your life somewhat less demanding with regards to the easily overlooked details.

Con: The Landlord

You may not be acclimated to managing a proprietor or property administration organization. It can be a tad bit of a troublesome assignment , I would prescribe destroying some profundity research on the circumstance before you really sign a lease. By that importance address the past inhabitants if at all conceivable and discover how rapidly past issues were determined. There is likewise the potential for your lease to be raised at a minutes see so be set up for that potential increment in your month to month costs

Expert: Insurance Is Cheaper

Tenants protection midpoints around $180 and $360 a year, while your potential property holders protection expense is altogether higher.

Not certain which is the right choice for you? Connect or abandon me your contact data and I’d affection to answer any inquiries you may have. Leasing or own a home truly descends to your individual circumstances and it’s essential to consider all the genius’ and con’s painstakingly. In case you’re searching for more information don’t hesitate to look over through my web journal for tips and traps that spare you time and cash amid your land purchasing or offering process.

150 150 Relevé Real Estate

Bradenton Property Management Perspective

bradenton property management

The Bradenton/Manatee County, Florida area has always been a desirable place for Bradenton Property Management. Throughout Manatee County you will find a wide variety of properties: bayside villages, country clubs, rural settings, urban communities and retirement areas.

You can find stunning oceanfront homes and luxurious condominiums of Anna Maria Island andHolmes Beach. In the East County lies the sprawling master-planned communities Lakewood Ranch and Heritage Harbour. With these diverse options, you can find a property with everything you desire in a home.

Located between Tampa and Sarasota, Manatee County offers many attractions and historical districts.  Bordering the Gulf of Mexico and the Manatee River, the county is well-suited for the avid golfer, boater or beach enthusiast.

Manatee County and Bradenton Property Management saw considerable appreciation during the housing boom and rapid depreciation during the bust.  Manatee County is beginning to rebound from the housing market crash, showing signs of life.  New businesses and retail stores are opening up and some builders are increasing prices.

The rental market in Manatee County is strong, with most properties finding tenants within 30 days of listing.  Proper research must be done to determine rental rates for individual properties. Setting the right pricing point will ensure you make the maximum amount of cashflow, but also help you avoid vacancies.

For professional property management in Bradenton and Manatee County, contact Relevé Real Estate and Property Management

Heritage Harbour Property Management
1024 768 Relevé Real Estate

Heritage Harbour Property Management Perspective

Heritage Harbour Property Management

An outlook of Heritage Harbour Property Management considering all of the factors that go into owning a successful rental property in the area.

A master-planned community in the 34212 zip code, Heritage Harbour is east of I-75 on State Road 64.  Built by Lennar, the desirable community offers a variety of homes and amenities for every lifestyle.

The entrance is a long, scenic pathway.  On the left is a lighthouse on a small lake, huge children’s playground, picnic area, lake, walking the trail, dock, and several baseball and soccer fields.

Heritage Harbour is split into three neighbourhoods.  Stoneybrook, Lighthouse Cove and River Strand

Lighthouse Cove, which features single-family homes, townhomes, pools and playgrounds. It has an open, family friendly feel to it.

Stoneybrook  is a gated community with a clubhouse, restaurant, golf, pools and a gym.  Stoneybrook has a variety of houses, condominiums and villas.   There is nothing like sitting on your screened-in lanai  and watching golfers play a round.

River Strand is Heritage Harbour’s newest neighbourhood. It features golf, tennis, fitness and more.  Rest in a hammock in the make-shift beach at the pool area, or rest in the lazy river pool. River Strand, pure luxury at its finest.

Send your children to Bradenton’s best schools includes Freedom Elementary and Lakewood Ranch High School. Both are top-rated schools.

Heritage Harbour offers quick access to shopping, schools, grocery stores and more.

Townhomes are renting from $800-$1100 per month. $1400 –1600 is the average rent for a home or investment with Heritage Harbour Property Management. Vacation rentals are around $150 per day or $950-$1050 per week.

Most of the homes were built during the peak of the housing boom in 2004-2006. Because of this, there are a lot of foreclosures, short sales and opportunities for investors.

With lower prices, outstanding amenities and strong rental rates, Heritage Harbour is a  great place to invest.

For expert Heritage Harbour Property Management and River Strand, contact Relevé Real Estate and Property Management.

150 150 Relevé Real Estate

Property Management Lakewood Ranch Perspective

Outlook for Property Management Lakewood Ranch Services considering rental rates, population growth and development. Property Management Lakewood Ranch

East of I-75, in the 34202 zip code, is the master-planned community of Property Management Lakewood Ranch.  Lakewood Ranch offers a variety of different properties and amenities to suit any lifestyle.

The neighborhoods of Greenbrook, Summerfield, The Lake Club, Lakewood Ranch Country Club and Riverwalk are connected by the trademark of Property Management Lakewood Ranch, miles and miles of nature trails.  For active residents, Lakewood Ranch offers several outdoor activities including golf, tennis, polo and cricket.

Other community features include parks with picnic areas, children’s sports fields, lakes, conservation areas and impressive landscaping. Contributing to a desirable area for Property Management Lakewood Ranch.

Lakewood Ranch is very desirable. It is located in close proximity to shopping, entertainment and dining.  Inside of the Lakewood Ranch community lies the Town Center offering a variety of shops and restaurants, Publix, YMCA, Lakewood Ranch Medical Center and Lakewood Ranch High School.

For the prospective investor, there are a variety of residential properties to choose from.  It is best to contact a Property Management Lakewood Ranch for pre-purchase consulting and specific rental rates.

History of Lakewood Ranch from Wikipedia.

Lakewood Ranch is located within the Manatee County region in Florida. Manatee County covers almost 900 so mi (2,300 km2) including waterways, which provided transportation. Railroads, bridges, and roadways were later added for easier access in and out of the area.

Along with transportation, development came a rapid growth in population during the early 1920s.

The first neighborhood development, Summerfield, went up in 1995. As the area expanded and population increased, a master-planned community was created called Lakewood Ranch.

Started in 1995, Lakewood Ranch has an 8,500-acre (3,400 ha) master-planned community within it, consisting of seven villages.

For expert property management in Lakewood Ranch, contact Relevé Real Estate and Property Management.