Real Estate Investing

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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 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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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.

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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

Storage Facility
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Finding the Right Storage Facility

Storage FacilityFrom time to time you’ll run over things around the house that you never utilize however you can’t discard or give. These things can consume up huge room in your home and turn out to be a significant bother to store. In the event that you end up in such a circumstance, utilizing a storeroom is an awesome choice to keep your belonging secure and effectively available. The following are some vital elements to help you settle on precisely what you’re searching for with regards to picking a self storeroom.

What kind of capacity do you require?

You ought to pick an office that gives the right stockpiling alternatives to suit your particular necessities.

Size

It can be hard to judge the amount of space you should satisfactorily store your things. Leasing a unit that is too substantial is a misuse of your assets, while capacity that is too little, will clearly not have the capacity to hold the greater part of your things. To evaluate the measure of space you will require, make an extensive rundown of the considerable number of things that you wish to store and search for quotes and counsel from capacity organizations on the extent of capacity unit you will require.

Atmosphere controlled capacity

While they can be more costly, atmosphere controlled capacity units are perfect for keeping things that are sensitive or of wistful worth. Then again on the off chance that you live in a range that is influenced by shifting climatic conditions, atmosphere controlled units are an extraordinary approach to keep your belonging protected and secure from the components.

Capacity area

Capacity that is found near bigger urban communities has a tendency to be leased at a premium, while more separated stockpiling areas are typically less expensive. On the off chance that you require your things to be routinely available, it is a smart thought to pick a capacity area that is adjacent to your home. On the off chance that you just once in a while need your things, a less expensive office that is further far from your home merits considering.

Simple entry

Standard weekday access to your capacity unit may not fit with your timetable, while some storerooms are available all day, every day and might be more suited to your necessities. Choose how frequently and at what times you will require access your capacity unit before looking into the open hours accessible at various storerooms.

Security

You need your belonging to be secure, so security is a need while picking a storeroom. Ensure that the capacity organization offers the accompanying security and wellbeing highlights.

CCTV and caution

The office ought to have a cutting edge camera observation framework and alert framework. It ought to have complete scope of the entire site to guarantee the security of the capacity units.

Fire wellbeing

The office ought to be furnished with flame cautions and a sprinkler framework to shield your things from flame harm.

Capacity Features

Capacity units ought to be satisfactorily ventilated by crevices at the highest point of the dividers, or a ventilation framework, to guarantee that there is flow of air to keep any buildup. The floor of the unit ought to be raised to stay away from the stream of any surface water, and the entryway ought to be secure and furnished with a solid hook so you can utilize an individual lock.

Upkeep of the office

The state of a storeroom is a decent marker of the dependability of the organization. While inquiring about offices you ought to guarantee that:

The structures a very much kept up and not basically harmed. Gaps and splits in a building can show spilling, infestations of bugs, and different issues.

The property is kept clean and in a decent condition of repair. Grimy and jumbled regions show an absence of support and expanded flame hazard.

Helpful hardware and stacking docks are accessible to customers.

Adequate stopping, with direct access to the capacity.

Sufficient lighting to guarantee you can without much of a stretch handle your assets amid the day and night.

A high inhabitance of capacity units, an absence of inhabitance demonstrates the office may have fundamental issues.

Inviting and accommodating staff that are educated about the operation of the office.

Visit storerooms in individual before picking an organization. You will be all around educated of the qualities and frail purposes of every site before settling on a choice. Ensure that the office you pick gives attractive robbery and harm protection to cover your profitable things.

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Lutz Rehab Home Mistakes

Lutz Rehab Home
When under the stress of an active Lutz Rehab Home project, it’s natural to seek out price saving measures to live within your finances. Every dollar you save for your rehab is a dollar added to your bottom line. Don’t fall victim to the stress during your rehab.

Investors are often tempted to cut corners to store each penny and increase their chances of finishing a successful rehab. Here are two things to avoid during a rehab.

Hiring Uninsured Contractors

The constant cost of a contractor to carry his/her liability coverage will add additional costs to his/her service. This makes it a tempting to hire contractors who offer lower fees because they’re not deciding to buy legal responsibility coverage. You have to make liability coverage a demand for any contractor who works with your properties; there is no compromising right here.

Make the commitment to screen all contractors and confirm they have the proper insurance coverage.

Skipping Out On Obtaining Permits

One beginner mistake novice buyers frequently make is attempting to pass out on required building permits. Permits are required from an extensive range of common improvements: framing, structural adjustments, new plumbing, electric work, fences, etc.

Contact Relevé Real Estate for finding a rehab home of your own today!

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Sarasota and Tampa are Top Turnaround Towns

sarasota and tampa
9. SarasotaBradenton, FL ranks #9 in at the realtor.Com top turnaround town report for the primary area 2012 and one of seven cities in the sunshine kingdom to take a pinnacle ten spot at the list. March domestic sales inside the region had been up 23.7% as compared to February, and just slight underneath march 2011 tiers, dipping -1.4%. Median list expenses had been up 12.56% in Sarasota-Bradenton for the primary zone 2012 in comparison to the equal length final yr, and on the market stock is down -27.Sixty-nine% from a yr in the past. Even as symptoms in Sarasota-Bradenton are high quality, the market remains fragile with an unemployment rate of 9.2% and a preferred foreclosures rate in Sarasota county of one in each 353, each better than their respective countrywide averages.

Sarasota-Bradenton seemed on the realtor.Com top turnaround city document: q3 2011 (6); this autumn 2011 (five).

What to peer in Sarasota: the southwestern coastal town is bordered by means of several barrier islands before land meets the gulf of Mexico. It’s now not all golf publications and gardens, even though. Sarasota also has many cultural attractions to enjoy: musical, dance, inventive and theatrical venues.

10. Tampa-st. Petersburg-clearwater, FL rounds out the top 10 spots on the realtor.Com turnaround metropolis listing. Current enhancements in key metrics were surprising, mirroring the turnaround underway in different Florida foreclosure centers. Distressed mortgages peaked remaining September at sixteen.Three% in Tampa, and remained consistent at that level. Countrywide charges declined from a high of 7.Nine% in February 2010 to six.7% these days. Even though the proportion of distressed mortgages has been appreciably higher in Tampa than the country ordinary, data suggests the foreclosure fee considering the fact that April 2009 isn’t any better than the countrywide degree. While the housing marketplace inside the metropolis of champions remains fragile with deeply discounted foreclosed properties, low assets values and many severely underwater mortgages, the q1 2012 statistics from realtor.Com suggests median list costs are up eleven.Ninety-two% and the market moved 20.34% quicker as compared to the identical time remaining yr.

Noteworthy approximately Tampa: the western Florida metropolis on the gulf of Mexico has been tapped to host the 2012 republican countrywide convention. Delegates will revel in the plethora of golf courses, museums and purchasing the metropolis gives. Plus, don’t forget about Busch gardens Tampa bay, which turned into originally an admission-free hospitality merchandising of Tampa’s Anheuser-Busch brewery.

For expert property management Relevé Real Estate and Property Mangement for a unfastened consultation these days.

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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.