Lutz

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Finding a Tenant in Land O’ Lakes

Finding a Tenant in Land O' Lakes

Finding a Tenant in Land O’ Lakes

Properties do not necessarily have to be listed on the MLS.  The MLS would be more for prospective tenants that are looking for a rental with a real estate agent.  Generally, the commissions are not that good for tenant location, so most real estate agents do not pursue these leads.  Usually, it is for a friend or referral.  Overall, the MLS is geared more towards sales and for listing your rental property and finding a tenant in Land O’ Lakes, Florida, it is best to have the advertisement show up on many different websites.The MLS used to be the only thing out there to buy and sell properties.  But now with so many resources online, it is irrelevant.

Most of the sites are free, and there are sites that circulate the ads to multiple sites.  Most of our leads come from Zillow, Craigslist, and the company website.  Zillow is still the current king of finding tenants online.  Everyone uses it.  We post our properties to over 50 different rental listing websites. We get a couple of leads from HotPads and then some from local rental pages.

If your property manager tells you their advertising strategy is to list the property on the MLS, this is probably not the fastest and most effective way to find a tenant in land o’ lakes, Florida.

For expert property management in Lutz, Land O’ Lakes and Tampa, Florida, contact Relevé Real Estate and Property Management

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Lutz Landlord Screening

Lutz Landlord

Lutz Landlord

As the collapse of the housing market continues, foreclosures are all too common. Many good tenants, who pay their rent on time are finding themselves having to move because their landlord has not been paying the mortgage.

Tenants are learning lessons from the housing bust. It is wise to check out the landlord before signing a lease, moving all of your stuff in and paying rent. This is not too difficult to do, the main thing the tenant needs to see is the pay history on the mortgage for the last two years. One way to accomplish this is to run a credit report on the Landlord to show payment histories on all of their mortgages. With authorization, a verification of mortgage (VOM) could be sent to the Landlord’s mortgage company. The VOM could take over a week, so it is a good idea for a landlord to go ahead and request it so that it can be provided to prospective tenants at application.

When a property goes into foreclosure, the landlord should be upfront with the tenants about the situation. The tenants could possibly sue as they are promised uninterrupted enjoyment of the property in the lease. If a foreclosure process is started, any property management contracts are voided.

For more cash flow maximizing advice contacts Relevé Property Management, no strings attached.

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Lutz Home Prices

Lutz Home Prices

Lutz Home Prices

In Hillsborough County, home and condominium resales rose in October. However,  there’s still a debate about the housing market recovery.

According to the Florida Association of Realtors, sales of existing single-family homes in the Tampa-Lutz market rose nearly 50 percent in October compared to the same month a year ago. Sales of previously-owned condos also escalated.

Bargain-hunters and first-time homebuyers seeking the federal tax-credit deadline pushed the sales spike. This led to a decrease in the median sales price from a year ago.

Lutz, FL remains a growth area as the Tampa Bay area population spreads out.  New construction, such as Long Lake Ranch, will continue to bring in more residents and eventually, more local businesses.   Rental rates remain high across the board in Lutz, with limited supply causing an acceptable level of demand.

Whether you are looking to purchase a condo on the 10th-hole or a beautiful home in the Lutz area, prices are right for an investment in a rental property.

Contact Relevé Property Management for all your investment rental property management needs.

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Are Your Real Estate Dreams Crushed?

real estate dreams

Maybe you had big dreams about becoming a real estate investor, using other people’s money to leverage BIG deals, create a passive income and build a high net worth.  You were going to live the good life, own big houses, luxury cars, travel around the world and basically do whatever you want without worrying about money.

In the mid-2000s, these dreams were coming true for many.  There were stories every day about people making BIGprofits in real estate.  Houses were appreciating like crazy, and you had to get a piece of the action before it was too late.

Then the housing market crashed started crashing, those properties you bought are now worth half of what you owe on them, they have been for sale for a year with no inquiries, unemployment is up and tenants stop paying their rent.  Maybe you now have a foreclosure or two on your credit report, and maybe it was a big mistake to get into real estate in the first place.  Maybe you should forget about those dreams and just be happy you have a job.  Or……

Maybe you should get back in the game.

If you did buy an investment property then you learned quite a bit.  You would have started by getting lots of information on how to buy investment properties, getting a mortgage, finding a realtor, going to a closing, being a landlord, etc.  So this means you have a pretty solid base of education in the real estate industry.  If you have been through the process start to finish then you also have experience in the real estate industry.  If you then have experiences where you defaulted, ruined your credit or lost a lot of money, you have the most valuable experience of all, failure.

Say you bought a house for $300K and now it is getting foreclosed on.  That is a $300K lesson learned in real estate.  How many real estate courses can you buy for $300K?

My point is that if you do not use any of the valuable education or experience you have acquired, then that is just stupid, right?  You must learn from your mistakes, Excessive Cash always follows education and experience.

So dust yourself off, get creative, realize that the real estate game has changed and follow these rules.

Don’t

  • buy for appreciation
  • think a mortgage is the only way to buy a property
  • think you will sell in 3 months
  • have a negative cash flow
  • speculate
  • buy at market value (it is going to depreciate)
  • be in a hurry

Do

  • have an exit strategy
  • a cashflow analysis
  • utilize the internet and realtors to find the properties for you
  • submit low offers
  • be patient
  • realize that there are other places to invest
  • find private investors who would love to have a 8% secured return

Relevé Real Estate and  Property Management – Full-service property management in Lutz, Land O’ Lakes and Tampa, Florida.

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March 2016 Lutz Real Estate Statistics

The Lutz Real Estate Market Report for March 2016

According to the new data released by the Greater Tampa Association of REALTORS®, the Lutz, Florida Real Estate Market is showing signs that 2016 is going to be even more aggressive than 2015.

 

Market Notes:

This is the first time in several months that we have seen more homes come on the market than sold. Hopefully, this is an indicator of a much-needed boost to our housing inventory.

Let’s take a look at the March 2016 real estate market numbers for Lutz:

 

March 2016 Lutz Real Estate Statistics

Status: Active (80)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $49,900 $50.94 1
Max 6 7 6,623 ###### $371.03 30
Avg 4 3 2,594 $400,017 $143.65 15
Median 4 3 2,488 $355,700 $139.42 13
Status: Active with Contract (30)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $59,900 $101.89 13
Max 5 6 5,761 ###### $213.93 255
Avg 4 3 2,654 $391,240 $143.11 80
Median 4 3 2,624 $386,000 $138.15 44
Status: Pending (81)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $64,900 $51.43 1
Max 5 4 4,443 $807,006 $225.23 255
Avg 3 3 2,107 $263,547 $121.52 39
Median 3 3 1,936 $241,300 $125.26 19
Status: Sold (79)
    Beds Baths SqFt Heated List Price LP/SqFt Close Price ADOM
Min 1 1 456 $32,900 $20.98 $33,900  
Max 6 6 4,622 $945,000 $305.94 $900,000 631
Avg 3 2 2,056 $253,382 $119.60 $249,656 68
Median 3 2 1,965 $219,900 $122.12 $207,000 30
Status: All (270)

 

The Lutz Real Estate Market is Strong

March is usually the slowest month for real estate sales in Lutz, but it was still 25% busier than this time last year. We are finally starting to see an increase in new listings by 34% over last year. This is very good news for homebuyers who have been struggling to find the right house because there have been so few homes on the market. Our hope is that this is an indicator of a more balanced market as we move into 2016.

These numbers cover all of the neighborhoods in the Lutz, FL zip codes of 33559, 33549, 33558 and 33548.  All information deemed reliable but not guaranteed.

Lutz Rental Vacancy
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Lutz Rental Vacancy and Maintenance

Lutz Rental Vacancy

Lutz Rental Vacancy and Maintenance are the 2 largest hits to an investor, and they’re the 2 biggest time requirements for an assets supervisor. So if you can get preservation below control by having a maintenance plan in place, you would be capable of keep away from a variety of problems.

Whilst your property first goes into service, Whilst you first smooth it up and placed a tenant there, among many other matters, you would have installed new light bulbs. I’ll use the light bulb example here to provide an explanation for how the upkeep plan helps.

Permit’s say you’ve set up a mild up the front that’s got 5 mild bulbs. Seven months or a yr from now, while that first light bulb is going out, extra than in all likelihood, the rest of these light bulbs will start going out in the next couple of months. So, you might simply update all of them at one time. It’s a totally low price replacement, and it simply guarantees you’re no longer going back 4 different instances in the next six months to change one light bulb at a time. The greater trips you (or your handyman) have, the more price it’s going to entail. It is all about being efficient.

 

It can appear to be a small factor, but having a stable apartment application is step one in locating top-notch tenants.

Just having a written upkeep plan of what’s going to manifest can help you store lots of cash for your lutz rental vacancy. You should installation a yearly upkeep plan. This serves two purposes. One, it maintains the belongings running smoothly thru a preventative renovation and it gives you frequently get entry to the assets to see how the tenants are worrying for the assets. I can’t strain enough how preventative protection makes a difference. It seems without fail that the preventive restore that would be made ends up being a middle of the night phone call emergency.

An instance of that is yearly renovation of furnaces. We send our hvac repairman out to service all the units. The proprietors that don’t do that constantly seem to have a no warmth name on a Saturday night time at 9:00 p.M. And all of us who has rental properties is aware of that your HVAC guy has extraordinary rates for during commercial enterprise hours and off hours. The difference in fee might be many hundred dollars.

The hassle of Lutz Rental Vacancy

The opposite primary hassle faced by the proprietors and belongings managers is vacancy. I work sincerely tough to keep tenants and to prevent emptiness.

Vacancy is actually expensive for a residential unit. If a unit goes vacant, you’re going to greater than probably lose a month of lease. You’ll need to spend money to turn over the unit, which can commonly same a thousand dollars if you’re painting. You would possibly need to redo a few floors, and you’ll be adjusting this and that. Ultimately, you’ll end up with one thousand dollar bill, and then you’ll pay commission to an actual estate agent to find a new tenant.

Essentially, your three-4 months of rent out of pocket that you’re giving up is hurting the coins flow of the rest of the investment houses or hurting your reserves or something it is probably. Then again, if you may find a manner to keep that tenant, you normally recognise while a hire is going to end. This will allow you to discern out what you need to do next.

Property Management

If you aren’t interested in maintaining the current tenant, you can begin searching out new ones 60 days before the hire will quit. In case you want to hold the modern-day tenants, that’s lots more worthwhile and hassle unfastened, you can find approaches to trapping them. You may provide them incentives or tell them you’ll update their carpet or replace their shelves or give them $300 closer to the utilities next yr.

Just spending $500-six hundred on enhancing a unit and preserving a tenant is a miles extra efficient way to operate than to allow the tenants move. Tuning into the tenants’ wishes may do the trick. In case, your tenant can pay $900 and they locate it difficult to pay that, you could drop the rent for $25 so that it will maintain them. This will value you $three hundred in a year, but trust me, it’s a long way much less than what it costs to turn that unit over. 3 hundred greenbacks to the tenant, as opposed to $1,800 or $3,000 in your contractor or real estate agents, is a way better deal.

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Mistakes that Lose Potential Lutz Home Buyers

lutz home buyers

Prior to advertising your own home, you want to go searching for some things that might be particularly discouraging to potential lutz home buyers. They will really be evaluating many homes and could conveniently push yours aside with the slightest provocation. You want to be aware of some matters that turn off potential customers.

Things that turn off potential residence consumers:

1. Carpet over hardwood floors

Many people really like hardwood floors, they upload a top-notch design element to your house. They’re also very easy to smooth and don’t maintain dust like carpets do. Many sellers make the error of masking up their hardwood flooring and opting to display carpet. Make certain you show off your gleaming hardwood floors and go away the customer to determine in the event that they want then blanketed or not.

2. The usage of a bedroom for other functions

All domestic buyers are interested in the quantity of bedrooms the house they intend to buy has. If you converted a bedroom into something like a domestic office, it is advisable to revert it back earlier than you positioned the residence on sale. The purchaser won’t locate the home workplace as beneficial as you determined it. Not handiest does it impact a customer’s capability to visualise a dwelling area however workplace is often a supply of clutter.

3. Turning your kid’s room right into a miniature theme park

On the grounds that kids are very innovative and unfastened spirited, many dad and mom turn their bedrooms into something that resembles a Disneyland journey. This turns off consumers as they may have teenage kids who do now not require all of the first rate decorations. Let the brand new residence owner have the opportunity to determine what to do with every of the bedrooms. As always when making ready to promote your home, less is greater… Stuff, that is.

4. Grimy dishes in the sink

Residence buyers are very touchy about how you have been looking after your home before they purchase it. They need to see the residence at its satisfactory so please be sure your kitchen is as clean as it may in all likelihood be. A grimy sink continually sends the wrong impact and is enormously commonplace. In case you are caught up in a dirty kitchen, it is clever to keep off the purchase till you tidy it up.

5. Make consumers take off their shoes

It isn’t rude to ask buyers to put off their footwear when getting into your home, mainly if it’s raining and also you’ve scheduled a large variety of showings in at some point. That’s a variety of foot traffic! However, they are probably getting rid of via the request. Don’t forget to leave old towels at the flooring close to the front & again doors — or ask your realtor to offer a supply of disposable booties in your viewers to place on over their shoes.

6. Puppy toys laying around the house

If you have a pet then ensure everything like dog food and pet toys are saved away nicely. Having dog toys laying around in random rooms within the house won’t be the as appealing to a lutz home buyers who isn’t as pet pleasant as you’re.

7. Having a family room in the storage

Just because you made a decision to apply the storage as an extra sport/family room doesn’t always suggest your customer wants the same setup. Ensure in case you’ve modified your garage installation in any manner you revert it again to a primary storage (ideally and not using a litter) so one can visualize what they would like to do with it. In case you’re the usage of your storage as a garage for the greater gadgets you’ve removed from internal, simply shop matters as smartly and compactly as feasible.

Eight. An above-ground pool

An above-ground pool in the backyard of the house is not an excellent concept. In case you cannot have the funds for a right pool and are tempted to installation an above the ground pool, you need to dismantle it lengthily before placing your private home on sale. If the pool leaves in the back of a dead spot of grass inside the outside, you will fumble final minute trying to cover it. If you have an above floor pool and you understand you’ll be putting your private home in the marketplace in the close to future then take the pool down properly before you placed your private home up on the market. This will provide your backyard lots of time to get better and with any luck keep your grass searching inexperienced for the showings.

Nine. Light fixtures

It is true that a stunning chandelier can boom the depth of your room and may be an actual focal point mainly if it is placed in a formal dining room. It may if it’s far brilliant ornate and custom, make a contribution to turning off a potential purchaser. If you have a unique, special, critical-to-you-but-now not-stylish mild fixture, it’s far critical that you put off it (and replace with an extra appropriate one) earlier than placing your private home on sale. This manner you could preserve from clashing stylistically with any capability shoppers, as well as defend the fixture you love.

Consult your realtor for more recommendations on putting off items in and around your house that could flip off your capacity consumer.

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Property Management Companies

Property control is a hard enterprise with a bad rap (an awful lot of it earned, via the manner)! For traders who have taken on landlord duties, you recognize simply how worrying it is able to be. Dealing with an investment belongings is both hard and time-consuming and calls for a chunk of personality dexterity. Most actual estate investors, but, by no means address the nitty gritty information about assets control, although they understand what is going into it. That is due to the fact most actual estate buyers participate inside this big investment marketplace in a passive way. They have no revel in with belongings control so they haven’t any concept what makes it tick.

Unfortunately, that fact — the truth that most misunderstand the gargantuan project of belongings management — way that too many traders are willing to overlook quality to store on prices.

We recognize, really. In the end, you’re on this commercial enterprise to make cash, and if you’re spending a ton on assets control, it manner fewer dollars on your retirement bills when a lease is due.

But, when you are inside the center of the actual property recreation, it is real lifestyles. It ain’t exercise! You don’t have time to make the error of trading it slow to store a few greenbacks just like you do not have time to step over bucks to seize the dimes. On the subject of the perception that you can store cash and construct your retirement by doing the control yourself, my best advice is: not so rapid.

Top class assets control is really worth it. Without a doubt.

Right here’s the thing about property control: you get what you pay for. The distinction between desirable belongings management and horrific property management isn’t constantly right away great to real estate buyers. Why? Because proper assets control isn’t something you need to note, and bad belongings control does the whole thing to hide simply how terrible it’s far.

Making comparisons based totally solely on charge will come returned to haunt you when you become with chronically overdue lease payments, assets that’s falling apart, damaged lease agreements, bad conversation, improperly set expectations and high tenant turnover. Terrible belongings control can’t only hurt your lengthy-time period investment success, but it may damage one of your maximum treasured belongings — your recognition.

Your control crew is the on-the-floor, public face of your funding enterprise. That’s large.

So clearly, what does a great assets management crew appear like? What benefits do you get for making an investment in premium service? Almost as critical is how do you place proper expectations at the front stop?

What best property control seems like

You’re in-the-know

Stable assets control groups ensure they are inconsistent communication — in particular approximately the huge matters, the milestone events. Whilst they don’t overload buyers with updates, they don’t hesitate to offer reviews, documentation, and property fame updates. Good property managers are organized and in no way try to conceal things from you; they’re proud of the work they’re doing and feature an authentic interest in imparting quality offerings.

That doesn’t mean matters will continually cross easily. There can and can be hiccups, but a simple peace-of-mind communication goes an extended way, and the first-class of the first-rate make this a standard running technique.

Interview questions while hiring an assets manager would possibly include:

How frequently am I able to anticipate to hear from you?
Will that be by using phone name?
What is the average response time for your crew to tenant cell phone calls, preservation phone calls and proprietor cell phone calls?
Assets-manager-condo

You never must ask in which hire is

Accurate property managers realize a way to tune down rent bills. They don’t allow themselves to bend in the policies — they make expectations for fee clear and feature the organisation and prowess to make sure you get paid on time. Definitely proper management organizations have systems in the region to function on an everyday basis all the way down to how a hire charge is processed and how speedy hire payments are despatched to owners.

While talking with an assets management organization, they ought to be able to speak very definitely what that machine is and what the system is for making sure that is a clean technique. If they cannot provide you with clear and defined rules for whilst hire is gathered, while it’s miles overdue, how late payments are accrued and ultimately how and when payments are sent to proprietors, then they’re not up to the extent of the satisfactory within the business.

Your tenants sense taken care of

Accurate property managers aren’t just there to gather rent. They build a rapport along with your tenants, ensuring that they experience welcome and valued. They listen carefully to court cases and preservation requests and take appropriate action. Tenants won’t present an excellent supervisor due to the fact they’re doing the whole lot they can to ensure the tenant is sorted. Properly managers recognise how to diffuse uncomfortable conditions and solve a conflict, now not expand it.

Extra importantly, an incredible assets management organization takes delight of their average period of stay. The longer the time frame might also mean a decreasing revenue circulate for them as an organisation, however, it will suggest happier proprietors. After all, a glad tenant constantly translates to a happy owner.

If you could find a pleasant responsive business enterprise that treats tenants with recognize, you will likely have a good lengthy-time period enjoy. How will you know as a proprietor? Simple. Ask the property control organization what their common length of life is.

If you have your answer, ask them again most effective in a one of a kind way. Ask them what percentage of their portfolio receives turned over in a yr. Divide that number into a hundred and you’ve your average period of stay. If the 2 numbers do now not add up, then you recognise they had been pulling facts out of their bottom anyway. In the event that they do upload up, you can very well have a winner.property management companies

You do not often stumble upon an awful tenant

How properly does your manager display screen tenants? You must recognize! Experienced assets managers recognise that it’s well worth the more effort and time to in reality vet tenants. Because they screen well, you’re so much less in all likelihood to ought to fool with the headache of belongings damages, damaged hire agreements, crook hobby, and chronically overdue hire. Such a lot of issues are solved surely while the tenants you have are excellent ones.

There may be lots greater to a screening procedure than credit score, crook, financial disaster and eviction tests. There are truly subtle nuances that really correct management businesses hire and train their groups to use on the subject. A keen eye can spot troubles that don’t display up on background tests. The nice control businesses additionally recognise how to correctly comply with the legal guidelines to ensure they’re now not discriminating in any way. This know-how itself is worth its weight in gold.

Preservation problems never capture you by wonder

Finding out, you have to drop more than one thousand bucks on a hassle that could’ve been resolved for a fraction of the fee some months ago isn’t a laugh, to place it lightly. Ace assets managers are on the pinnacle of the entirety. They not most effective be aware of maintenance requests, however, are vigilant in detecting troubles early.

To be clear, this difficulty is not simply considered one of competency of the controlled enterprise, but it also speaks to how well they speak. These prices — marvel renovation troubles — arise and chew proprietors within the bottom all the time.

Make sure to invite your property control employer how they speak those issues and what they do to help mitigate and fasten in the fastest way possible. Nobody likes to spend cash, and the best control agencies ensure their owners understand that spending their money is the remaining issue they want to do. However, not letting them realize or sitting on an invoice till a “desirable time” to call or email is a sign of weakness and a pink flag on any employer you’re considering hiring.

Prison troubles are few and ways among

You know who finally ends up in a variety of complaints? Horrific property managers. Now, we recognize no longer all managers are sued for valid motives. However we’ve also heard one too many testimonies approximately illegal evictions, bed malicious program horrors, and typically awful control. Accurate managers don’t get into those sort of conditions. They don’t simply avoid them; they actively save you them and are well-versed in the regulation.

To be clear, all assets management companies are sued. That could be a truth of life for control businesses. However now not all management businesses lose proceedings. Many, in fact, frequently win or deflect the frivolous proceedings and rarely find themselves entangled inside the lengthy, drawn-out nightmare complaints that we every now and then pay attention about. Why? Due to the fact they recognise what they may be doing and have a machine and process for everything! Following those systems and tactics is what continues them out of the problem.

You, in reality, may be a passive investor

The biggest benefit you have in hiring accurate belongings managers? You get to virtually be a passive actual property investor. They provide you with the security of understanding your house is incapable palms on the way to preserve matters jogging easily, leaving you room to cognizance on what you need to.

After all, who can argue with the fact that as actual estate buyers, we make the majority of our money while we do what we do great: find, buy, renovate and maintain or sell sincerely properly deals? Spending our time doing the dirtiest of the dirty paintings whilst there are exceptional corporations accessible educated and versed in the way to do it for us at an inexpensive price appears to make the best experience to this passive investor

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A Step-by-Step Guide to Buying a Rental Property

buying rental property

When planning for buying and investment property focus on the big picture.

Owning a rental property is exciting, demanding and may be confusing if you’re not sure what to expect or where to start. Here is an easy guide that will provide with step by step instructions to those planning on investing in rental property:

Step 1: Why Do You Want to Become Landlord?

One of the important steps is getting to establish the reasons and goals for why you want to become a landlord. This is a step that is often overlooked by most people before they put a lot of money in their investments.

Knowing why is important. Real estate investing is not a simple task, and it may be challenging – especially when managing the property.

Step 2: Why Your Credit Score Matters 

A higher credit score means a lower the interest rate, while a lower score will force you into a higher the interest for securing a mortgage. This indirectly influences the amount of money you will pay over time until the mortgage is paid off. Always check your credit score and look for possible errors so that it is up-to-date and correct.

Step 3: Budget 

An investment property depends wholly on the planned budget and it involves more than just paying the mortgage. In addition to regular mortgage payments keep in mind that you will be responsible for maintenance cost, utilities, taxes, upkeep, and unexpected emergencies. Weigh each cost against how much is expected from your target rental amount.

Research the comparison of rental properties in your target areas for a rough idea of what you can expect for a fair rental price.

Step 4: Research Loan Options

Mortgage loans come in a variety of options. The most common is a fixed rate loan. This means you are guaranteed a fixed interest rate over the life of your loan – usually for  15 to 30 years.

Step 5: Check For Tax Credits

Tax credits are available to all homeowners, even landlords! If your investment property is not new construction, consider renovations. It’s important to consult with a CPA to determine what expenses qualify as deductions, and what depreciate and what does not.

Step 6: Shop for Loans

Make sure that you obtain a loan from a lender that offers the base rate. You have options from mortgage brokers, banks, credit unions and even government sponsored programs may be available to you.

Step 7: Secure a Real Estate Agent

Find and hire a real estate agent who is knowledgeable about buying investment properties. The agent needs to know how to secure the best deals, what a potential property may rent for, trends that are affecting tenants, and what areas you are most likely to see a profit.

Step 8: Present an Offer

Remember, this home is an investment. Make sure that your agent negotiates the best possible price for the property.

Step 9: Appraisal

The appraisal for a property provides the lender with an estimate of the home value. Compare the appraisal against other similar properties in the area. You can cancel your offer to purchase a home if the appraisal comes in low.

Step 10: Inspection

An inspector conducts a thorough inspection of the property. He may give recommendations on items that need to be repaired or replaced. Again, you may cancel your offer if the home requires too much work.

Final stage: Closing process

The attorney, title agent, or real estate agent will advise the necessary documents for the final purchase process and what needs to be signed.

Hire a Property Manager

Once you own the property, an effective property manager can save you time, money and headaches.

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Home Selling – A Checklist of Things You Need to Do

Home Selling

Before you put your house up for sale, it is essential that you prepare your home to make it as appealing as possible. First and foremost, setting the right sales price from the start will ensure your house is considered by the largest pool of buyers from the date that it is listed. If your house is priced too high many buyers and real estate agents will simply remove it from consideration. Assuming your house is priced correctly, the following tips will help you attract buyers so you can sell your house as fast as possible.

Marketing and Advertising – Even if your house is priced below market and it is the most beautiful house on the street, you have to make sure homebuyers know it is for sale. Make sure your real estate agent has listed your house on all the major real estate search engines. These sites should include: Realtor.com, Zillow, Facebook, and any other real estate sites that are used in your area. Social media is used by nearly every home buyer. Once your house is listed, view your listing online and make sure there are numerous photos of your property. Many homebuyers use the Internet to search potential houses by price and then they look at photos. If the photos of your house are not in the best possible light, you could be losing potential homebuyers.

Curb Appeal – Since you’ve pulled in potential homebuyers to see your property, you have to make the outside of your property as engaging as could reasonably be expected.Make sure the grass is cut, the weeds are pulled, the bushes are trimmed, and flowers are planted. If anything is damaged in the front of your house, such as siding, downspouts, windows, the front door, or mailbox, they should be addressed before listing your property.

Update the Interior – When potential buyers walk into your property, the entrance way and the main rooms of the house should be clean and inviting. You can paint rooms a neutral color, update flooring, and updated fixtures. You don’t have to spend a lot of money; average quality updates should be fine for most homebuyers. Brighten up rooms by opening the drapes and using higher wattage light bulbs. This will make the rooms look greater and brighter. Additionally, search for glaring issues in your house. These might be as minor as electrical outlet covers, lighting apparatuses, and register covers. Including an alert framework ought to additionally be considered.These updates may be very minor, but may change the appearance and allure of your house to potential buyers.

De-clutter and Clean – Take time to remove personal items and clutter from the house. Thoroughly vacuum and clean each room to make them in as inviting and appealing as possible. If possible, hire a cleaning service to do a deep cleaning prior to showing the house.

Board Your Animals – If possible, board your dog or cat prior to listing your house. This will allow your house to be shown at any time and will eliminate potential smells and odors that a cat box or dog may leave lingering on the property. Potential homebuyers will be rushed and turned off if your dog is locked in a room barking wildly while they are viewing your property.

Provide Positive Information – Leave positive information on the kitchen table for potential buyers and realtors who view your property. This information should include nearby dining, shopping, attractions, and recreation. Also, if the school system is highly rated, make sure information regarding the school district is provided. This information could be the difference between an offer on your house instead of another property.

Effectively promoting and improving the appearance of your house will not only result in a higher sales price but most likely a quicker sale. Continuously ensure before tolerating any offer that the purchaser is pre-endorsed. The exact opposite thing you will need to do is to take your home off of the business sector for a potential purchaser who may not meet all requirements for an advance. Continuously solicit to see a duplicate from any potential homebuyers’ pre-endorsement letter to confirm their capacity to acquire contract financing. An expert stager will take a gander at your home from a crisp and unemotional point of view. They have been prepared to see your home as an item, highlighting resources and making light of imperfections. By utilizing a mix of your furniture and accessories, adding new accents to update the look, and strategically incorporating a few “designer tricks-of-the-trade”, a stager is able to create the model home WOW effect . . . while appealing to your target market.

Home staging focuses on fast, dramatic and affordable transformations to ensure that your home will be the one remembered from the real estate tour. Once staged, the house will be “showcase ready”, which will also make it “photo ready”! Since 85% of home buyers are using the internet to determine which homes to even visit, photos of professionally staged rooms will set the listing apart from the rest.

Finally, home staging has been proven to be an affordable investment which reaps a large return on dollars spent . . . an investment few sellers can afford not to make in today’s highly competitive real estate market. And remember, staging almost always costs less than your first price reduction.