Property Management

home warranty
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Do I need a Home Warranty?

home warranty

What’s a home warranty, and do you want one?

Proudly owning a domestic is a outstanding success but at the identical time, it comes with duties. Upkeep & regular maintenance are a number of the matters that you may now need to deal with as a domestic proprietor. But, many first time domestic proprietors are not always prepared for some of the troubles they will run into with their utilities or maybe housing structure. For instance you can wake up one morning to find out that your water heater has damaged down and it’s 32 tiers out of doors. Everything in your own home has a existence cycle so its excellent to be organized when matters want fixing or maybe replacing.

What do you do while such matters happen?

Many owners might not have the enjoy important to do small maintenance, specially when they come at surprising times. A few individuals can be lucky sufficient to have a close-by member of the family who is knowledgeable in those sort of prevalence. Others may also recognise an electrician or a plumber but the whole method of getting bids and figuring out what the real motive of the hassle is, let alone getting it solved, takes quite a few time. The first-rate issue to do as a new home proprietor is to have a domestic guarantee.

What is a home warranty?

A domestic warranty works nearly like an extended warranty or insurance coverage you would buy in your flat display television or telephone. It covers the fees for replacing or repairing almost some thing that can sooner or later end functioning in your own home. Normally, payment plans range from $three hundred to $900 according to yr.

The only aspect that you may should do is touch your home assurance issuer either by means of phone or by way of submitting a ticket on line. The home warranty provider will then contact the employer or contractor they have a settlement with. The employer will then send someone to resolve the trouble via both fixing it or replacing the malfunctioning object all collectively. All of the restore or substitute charges might be included by your home assurance top rate and you’ll handiest be required to make a co-charge for each incident.

Who should purchase a home warranty?

Home warranties are specifically suitable for first time millennial and gen x/y domestic consumers who are commonly accustom to renting. Those former renters may often be so willing to call the landlord each time a trouble arises. Your new domestic warranty company will essentially take over the position of your former landlord. These domestic owners often paintings for lengthy hours and might not have the time or strength to call round and discover an electrician or a plumber to get appropriate estimates from. Having to wait through the 12-4pm window for the restore character to come back to your property may also now not be so appealing.

Upkeep whether expected or surprising can be too costly and you could undergo an alternatively lengthy process before you get the trouble resolved. You can avoid having to address this procedure in your personal with the aid of setting up a home warranty.

A Home warranty is not restricted to most effective gen x/y and different first time domestic owners. Any domestic proprietor at any age can purchase a domestic assurance any time. So there’s a few flexibility whilst it comes to buying your home warranty.

If your home has been inspected, then you definitely understand the existence expectancy & the situation of the maximum of your utilities. Usually, maximum home equipment damage down after round 15 or twenty years and also you don’t need to deal with several malfunctioning matters at the identical time.

Before you do buy a home assurance but, it’s miles beneficial to keep around and evaluate the numerous rates & insurance plans treasured to make certain which you get a bargain. Keep in mind that an older home will, in reality, need more coverage.

Investors who may not need to be doing maintenance for his or her tenants must additionally keep in mind home warranties. This have to specifically be taken into consideration via real estate traders who aren’t as experienced with the typical quantity of renovation a assets would require. A guarantee will even prove very beneficial if you don’t have a network of restore humans to be had to make the maintenance. A domestic warranty will keep each you and your tenants glad and satisfied.

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Land O’ Lakes Foreclosures

 

Land O’ Lakes Foreclosures

Land O' Lakes ForeclosuresWhen you have record numbers of foreclosures like the United States has had over the last few years, you get record numbers of renters.

The most amount of people in history have been losing their homes to foreclosure when this happens the person:

A. Doesn’t have a place to live

B. Has bad credit

C. Can’t qualify for another mortgage

So where do these people go?  Some may have to move in with family, but the majority will be looking for a place to rent.

This means that there are currently a record number of people that are interested in renting a property.  This is good news for our property management company since it makes finding tenants very easy.

In some recent cases, we have had people bidding up properties over the advertised rental price.  Once properties are rented, we continue to get tons of phone calls and emails from people trying to find a place or see if we have anything similar.

Owners who can capitalize on this opportunity can increase their cashflow and limit vacancies on their properties.

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

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Wholesale Properties Land O’ Lakes

 

Wholesale Properties Land O’ Lakes

Wholesale Properties Land O' Lakes

There is always a good time to buy, as long as you buy right and have an exit strategy.

There is always opportunity in the real estate market, but in the current dynamic market it takes more savvy to create a profit.

From an investment standpoint, the biggest returns are no longer in higher priced homes which could leverage high appreciation.  Wholesale, ‘cheap’ homes, improved and then flipped or resold for a high percentage profit are the best way to create a gain.

Currently specializing in wholesale properties throughout Pasco County, Florida.  Relevé is finding deals and getting investors into properties to produce cash flow or high percentage returns on investment.

Finding Wholesale Properties Land O’ Lakes and then having effective property management is the key to success

We manage your investment in Lutz, Land O’ Lakes and Tampa, Florida.  Relevé Real Estate.

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If Land O’ Lakes Mortgage Rates Went Up

 

Land O' Lakes Mortgage Rates

Land O’ Lakes Mortgage Rates

If mortgage rates went up, the dollar would be worth more.  The money would be more expensive to borrow, therefore, more scarce and valuable.  You would have more purchasing power with the money you already have and earn a higher return on savings.  Banks would have more money to lend because they could entice customers with high CD, IRA and savings rates.  The higher rates would curb inflation, causing the price of everything to go down, including real estate.

Higher mortgage rates will further depreciate America’s housing market. If you are selling a home for$100k and the average mortgage rate is 5%, the buyer’s payment on a 30 year fixed mortgage is $536 per month.  If the mortgage rate went up to 8%, how much of an offer could the buyer make and still keep their monthly payment at $536?

Answer: $73k.  Buyers in the market for your property can now only offer 73% of the price when rates were 3% lower.  Your home just depreciated 27%.

Are we at the bottom?  Not even close.

On April 1st Federal Reserve is not continuing its investment, which means that mortgage rates are about to increase.  Experts believe home prices will drop 5 to 10 percent.  – realestate.com

Rates have been kept artificially low for the past 9 years, creating a boom and then propping up a bust.

Perhaps rates should really be at 15-20% to make up for all the money that has been printed and spent.

Either rates will stay low and the whole thing will go into a death spiral or at some point market forces will push rates up.  When that happens, expect your home to be worth less, and maybe the market bottom will be in sight.

For professional property management in Land O’ Lakes and Lutz, FL, contact Relevé Real Estate and Property Management

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Rental Marketing Land O’ Lakes

Rental Marketing Land O' Lakes

Rental Marketing Land O’ Lakes

Vacancies will kill your cash flow. Having your property vacant just one month can wipe out all of your profits from the year.  It is better to secure a tenant for $50 less than what you are asking than to have your property sit vacant for a month.  Being real estate investors ourselves, we adopted the philosophy of ‘keep it rented.’

So when we have a property coming available, we do everything we can think of to get it rented fast.

Our biggest successes have come from marketing our properties online.  This not only gives us a lot of great targeted leads, it doesn’t cost our owners a dime.

The video is becoming more popular on the web.  Videos are also being factored into rankings on search engines like Google, Yahoo and Bing.

If you list a video with the area + for rent in the title, then your video link will show up in property searches for that area.

The actual ad looks a lot better and gives the prospective tenant a better experience in shopping for a home to rent.

The advertising costs to our owners are still zero, but we now create great looking video advertisements for their properties.  They are posted on the Relevé Property Management channel of YouTube.

Going forward, videos will become more and more important in finding and securing good tenants.  Sun Rock will continue to utilize technology to make your property stand out from the rest and eliminate vacancy.

In Pasco and Hillsborough counties, Florida, We Manage Your Investment.

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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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Land O’ Lakes Real Estate Market Bottom

Land O’ Lakes Real Estate Market

Land O' Lakes Real Estate Market

It’s been a while since the crash of the housing market, but it is the decline of home values over yet?

If you ask a realtor, mortgage broker or builder, they will tell you it is a great time to buy. That the housing market can not get any lower and that “things” are getting better. I would like to believe them, but I do not see how things can get better when they are propped up, and there are no catalysts to increase demand.

We still have low-interest rates. Rates should be higher due to the amount of risk involved with lending money in this economy and depreciating collateral. Interest rates are being kept artificially low by the Federal Reserve. If market forces eventually push rates up to where they should be, then we could hit bottom. Will rates ever go higher?

We still have Fannie Mae and Freddie Mac, they have been bailed out and continue to buy loans on the secondary market. This eliminates risk for banks to lend responsibly and was part of the reason for the bubble in the first place. With government sponsored entities buying up every loan and banks being bailed out, they are not learning from their mistakes. The elimination of risk keeps banks lending and slows the fall to the bottom.

Unemployment has been going up, and I haven’t noticed any new jobs being created. As a property manager in Wesley Chapel and Tampa, Florida sees a lot of vacant commercial space and people not spending money. In a service-based economy, this is not a good thing.

My guess is that we have a long slow ride to the bottom, which could take 5-10 years (hopefully not 17). Then from there we will see a less volatile market with slow and steady appreciation that keeps pace with population growth and hopefully inflation.

Tell us what you think.

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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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Rent Bubble?

 

rent bubble

Rents have been rising steadily across the nation.

“While it seems that rents are rising at the expense of home values, the opposite is true. A thriving rental market will stimulate home sales as investors snap up low-priced inventory to convert to rentals. That, in turn, will lower the number of homes on the market, which will eventually help put a floor under the value of all homes,” says Zillow chief economist Stan Humphries.

The fundamentals of investing do not change.  The real estate market has been more dynamic and extreme but the buying below market, renting for cash flow and holding for the long term is a winning strategy.

Relevé Property Management is a full-service Wesley Chapel Property Management company offering focus, efficiency and commitment to our clients.