Posts By :

hello

Sell Your Tampa Bay Home
How To Hire a Realtor To Sell Your Tampa Bay Home 1024 683 Relevé Real Estate

How To Hire a Realtor To Sell Your Tampa Bay Home

Selling your home can be one of the biggest transactions of your life.  It is important to do some research and find out the best way for you to successfully sell your Tampa Bay home. There are many things to consider, but one of the most important things is who you will partner with to accomplish your goal.

You have the choice of going through a traditional real estate brokerage, selling the home For Sale By Owner (FSBO), or selling it to an iBuyer like Zillow or Offerpad (See this article about pitfalls of using an iBuyer).

Should you hire a Realtor to sell your house?

Things have changed.  Before the internet, realtors had insider information on home values and finding buyers.  Nowadays, sellers are more educated and have more knowledge about real estate than ever before.  It is not hard to figure out what your home value is, and making an advertisement online is usually free and easy and gets leads.

So it is now easier than ever to sell your house by yourself, but as with any DIY project, you have to weigh the cost vs the benefits.

Realtor Costs

The listing agent will usually list your home for a 6% commission on the purchase price.  This commission is split if there is a buyers agent involved in the transaction.  On a $300,000 house, 6% is $18,000. Now that you know the costs, weigh the benefits to see if Realtors are worth the money.

Realtor Benefits

These are questions to ask yourself.

  • Will it be worth your time to learn all about real estate and then do 100% of the work to sell your Tampa Bay home?
  • Is it safe to assume that you will have the expertise developed in a time when there is something that goes wrong (always happens) or match wits with experienced negotiators?
  • Would you want to have someone representing you, photographing, advertising, marketing, and showing your house?
  • Can you work up the correct contract and find the right title company, appraisers, and inspectors?  Is it worth your time to find all of these people?
  • Can you deal with this plus also your normal responsibilities and probably also looking for a new house for yourself and moving?

The value of a good realtor is expertise and systems to make the process as smooth and convenient for you as possible, while also getting the maximum value.

When you are deciding if you should hire a realtor to sell your house, think through this cost-benefit analysis deeply.  Then determine if it is better to sell by owner or with a realtor.

The difference between a real estate agent and a realtor is minimal.  Not all agents are Realtors, with being a Realtor means they belong to the National Association of Realtors.

How to Find the right Realtor for you

To pick a realtor to sell your house you should first do some research on your local housing market and even drive around during the day and night to get a feel for it. Visit open houses in your target area where you can ask local realtors questions about the market and neighborhood.

There is a lot of information online, so do some research before you hire. Check licenses, certifications, and reviews.  See if there are any red flags or question marks lingering in your head.  Ask around for a few referrals and get in touch with them.  See which of the prospective realtors may be a good fit for you.  You want someone you believe is capable, honest and reliable. Also, someone who can communicate the way you want to by text, phone, or email and someone who you feel will have the knowledge to handle complex situations.  This may be one of the biggest transactions of your life, do not feel like you have to use a certain person because they are a relative or friend of a friend.

Be open about your expectations for the communication and process of selling your home. Be thorough and request a quote.

First Meeting with a Realtor to Sell Your House

When you first meet with be prepared to talk about your finances.  They are going to need to know what your thresholds are for a sales price and time frame that you have to work with.  Discuss if there are any deal-breakers or must-haves with the property.  Disclose any issues you might know of with the property so they do not become BIG issues later.

Have an open mind and listen to what they say.  It may not be what you were expecting, but be flexible and see if there are other ways to accomplish what you are trying to do.  Real estate is a creative sport with many different ways to get things done.

Questions to Ask a Realtor When Selling Your Home

  • What is your training, experience, and background?
  • What is the recommended sales price for your home?
  • Can you provide addresses and prices of homes you have sold within the last year?
  • What is the suggested marketing plan?
  • What do we need to get the home to a marketable condition?
  • Do you have any references?
  • What are your commission and fees?

Can you have more than one Realtor when selling a house?

Yes, you can work with as many agents as you want to list your house, as long as you do not have an exclusive agreement with any of them.  Many people do not know this and in some ways, it may work in the seller’s favor to have many competing realtors working on the sale.

Some say that it would discourage some realtors from taking a listing if there are other agents involved because they could do a lot of work and end up not being paid for it.  Just be transparent with agents involved so that everyone knows what they are getting involved in.

How can I Lower my Realtor Commission?

Most real estate listing commissions are a standard six percent of the sales price paid by the seller. The buying and selling agent will split this commission.  If there is no buyer agent, you should have a ‘dual agent’ commission rate also.  That way if there is no split of commission, the selling agent would not get the full 6%, this gives you room to negotiate.

If you will be buying in the same region as you are selling your home, you should see if the listing agent will offer a discount if you agree to use them to purchase your new home.  They can end up making more money off of the two sales then they would with a full commission on one sale, so it can be a win-win negotiation.

You can also shop around and get rates from different realtors and then have them compete for your business.  Find out what value they will be bringing to the table to justify any comparatively higher commissions.

Finally, not jumping on the first offer and holding out for a higher sales price can let you pay less in commission in comparison to how much sale proceeds you are getting.

Conclusion

Ultimately, you must decide if using a realtor is right for you.  It has to make sense from a financial standpoint, as well as an emotional standpoint.  Be sure to be selective and research before hiring the person that will partner with you on possibly the biggest transaction of your life.

Land O Lakes Rental Value 150 150 Relevé Real Estate

Land O Lakes Rental Value

Land O Lakes Rental Value

Land O Lakes Rental Value.  Determining how much you should rent your investment property for is important.  In today’s real estate market, there are a lot of properties listed for rent, so finding comparables is not a problem.

The first thing you should do is determine how much you need to rent the property for to have a good cashflow (add up all of the costs associated, taxes, insurance, association dues, maintenance, property management fees, mortgage).  You want to know where you stand compared to the current market rental rate.  You want your property to generate income for you and be an asset, not a liability.

Next, go to craigslist or do a Google search for the street name + “for rent”.  This should direct you to several comparable properties.  You should look for properties with the same amount of bedrooms, bathrooms and square footage.  Some may have pools, be on the water or several acres of land, these rates should be adjusted up or down compared to your property.  Find four or five comparables and then take the average of them.  This gives you a ballpark range for what is reasonable in the area.

Then compare the average rent to the amount you need in order to get a cashflow on the property.Set your rate at what is going to give you the maximum amount of return on investment possible, while still being competitive with the nearby properties.

In today’s market, you definitely need to be in the same range as the comparables.  There is too much supply on the market and your property will not get any attention unless it is priced reasonably.

Once you have your rental rate set, add $25.  This will give you some room to negotiate a solid lease.  Find out your Land O’ Lakes Rental Value by contacting Relevé Real Estate.

citrus park
Investment Perspective: Citrus Park 640 426 Relevé Real Estate

Investment Perspective: Citrus Park

citrus parkCitrus park is a few miles northwest of downtown Tampa, and only a hop-skip-and-a-jump away from many of the best Bay area attractions. With excellent schools and close proximity to things to do for kids and adults, this suburban neighborhood makes a great choice for families, professionals and well as those looking to retire.

Citrus Park plays host to the only Publix Apron’s Cooking School in Tampa. It is located in the Shoppes of Citrus Park at 7835 Gunn Highway and offers a large variety of classes. You can learn from celebrity chefs, or impress your friends with your knowledge of wine pairing; brush up on the latest cooking techniques, or enroll your teen so they can learn to make more than just Ramen noodles and peanut butter and jelly.

When you need some retail therapy, check out what is considered by many to be the best mall in Tampa, Westfield – Citrus Park. The mall offers dozens and dozens of stores, including Banana Republic, H&M, Macy’s and Simply Mac. You can also find great restaurants like BJ’s Brewhouse and Grimaldi’s Coal Brick Oven Pizzeria. One of the crown jewels of the mall is the 20 screen Regal Cinema, which now has king sized recliners.

If you want to get outdoors in Citrus Park, a great place to visit is the Upper Tampa Bay Trail. This 7.25-mile long paved multi-use trail is great for bicycling, rollerblading, running and walking.  You can even bring your horses here! It also features picnic areas, fishing, hiking and bird watching.

Another unique place to visit in Citrus Park is the Big Cat Rescue, which is one of the largest sanctuaries in the world dedicated to abused and abandoned big cats.  It is home to more than 80 lions, tigers, bobcats, cougars, panthers and other species of large cats.

Citrus Park real estate offers a lot for its residents, including a variety of great neighborhoods where you can find houses ranging from the $100s to over $1 million.

homepath
Homepath Properties Get Money for Renovations 1024 776 Relevé Real Estate

Homepath Properties Get Money for Renovations

Homepath Properties are available throughout Tampa Bay.

Homepath homes are properties owned by Fannie Mae and available for purchase.  The program is interesting because you can borrow money for the purchase and renovations.

The program is to meant to help people purchase homes at an affordable price.  This creates a win-win as the new owners will improve otherwise vacant properties.  Owner occupying purchasers will have the money to fix them up.  The costs for the renovations will be rolled into their monthly mortgage payment. There is a high supply of homes foreclosed on and sitting vacant for many years.  These homes usually just need some TLC to be back to excellent condition.

The Homepath loan can be a great way to buy the right house in the right area and then be able to fix it up and customize it to how you want. The loans are for the purchase of Fannie Mae real estate-owned. If you qualify, you can get a 30-year fixed mortgage of around 3.5 percent. Only 3 percent down is needed and they will also finance up to $25k in renovations. There is also no mortgage insurance.

The program is great for first-time buyers or owner-occupied borrowers looking to find a great deal on a home they can fix up and own long term.  Keep in mind the offer price plus the renovations costs usually end up being around fair market value, so do not go in expecting to get a huge discount.

You can go directly to the Fannie Mae homepath page and search available properties near you.

You would still want to use a buyer agent from your local brokerage to help you with your homepath home purchase.  They will help you navigate the purchase and get the best deal possible.

Choosing a Tampa Bay Realtor 1024 683 Relevé Real Estate

Choosing a Tampa Bay Realtor

Local Experience, marketing, negotiation and excellent customer service are crucial factors in deciding who will be your Tampa Bay Realtor.

Deciding on the wrong agent could end up costing you thousands on the transaction, so vetting agents up front before hiring them to list your Tampa Bay home for sale is important.

1. Local – You will need someone that is local and can be on location for marketing, showings and inspections. A local brokerage will also help to support local business, rather than corporate franchise conglomerates. Another benefit is to look if the brokerage is providing local jobs, using local vendors and donating to local charities.

2. Marketing – Find out how the agency is showing up online and how their reviews are. Look at how they are promoting their current listings. How do their listings look? Is the photography good? Is it promoted on social media?

3. Negotiations – How does the agent negotiate with you on your terms? This is a tell of how the negotiation will go with your buyer on the transaction. Qualify them by asking about how they handle offers, counter offers, inspection repairs, etc. This will help you to determine if they are a savvy, experienced negotiator or someone you would not want to do business with.

4. Customer Service – Get a feel for the type of customer service you will receive. Are they easy to get a hold of? Do they use your preferred communication type? Do they follow up? You will need an agent that us looking out for your best interests when listing your Tampa Bay home for sale.

real estate market
Tampa Real Estate Market Ranked One of the Best 683 1024 Relevé Real Estate

Tampa Real Estate Market Ranked One of the Best

Real estate market conditions in the Tampa bay continue to grow.  Tampa has been ranked as one of the best in the nation.

The Tampa real estate market was ranked as one of the top markets for real estate investment by CNN money.  Most of the top ten were comprised of cities in Florida.  Investors are drawn in from no state income tax, low-interest rates, and sunshine.

Daytona Beach moved into second while Fort Myers took fifth. Orlando ranked fourth, Ft. Lauderdale number eight and Tampa at number nine. The other five cities in the top ten rankings were Las Vegas (No.1), Detroit (No.3), Warren, Mich. (No.4), Bakersfield, Calif., (No.7) and Rochester, N.Y. (No. 8).

First of all, trends in Tampa show a 7% year-over-year rise in the median sales price and a 2% rise in median rent per month.

From Wikipedia, Census data showed an average annual growth of 2.47 percent for approximately 97,000 residents per year. Between 2000 and 2006, the Greater Tampa Bay Market experienced a combined growth rate of 14.8 percent, from 3.4 million to 3.9 million people. The bay area hit the 4 million population mark on April 1, 2007.  A 2012 estimate shows the Tampa Bay area population to have 4,310,524 people.

Tampa was ranked as the 5th best outdoor city by Forbes in 2008.
Consequently, Tampa also ranks as the fifth most popular American city based on where people want to live. According to a 2004 survey by the NYU newspaper, Washington Square News ranked Tampa as a top city for “twenty-somethings.” Tampa is ranked as a “Gamma+” world city by Loughborough University.  This list includes other world cities such as Phoenix, Charlotte, Rotterdam, and Santo Domingo.
Tampa’s climate shows characteristics of a tropical climate and a humid subtropical climate zone.
Tampa’s climate generally features hot summer days with frequent thunderstorms.   Average highs range from 70 to 90 °F (21 to 32 °C) year-round, and lows 52 to 76 °F (11 to 24 °C).
Tampa’s official recorded high has never hit 100 °F (37.8 °C). The all-time record high temperature is 99 °F (37 °C), recorded on June 5, 1985. The highest temperature recorded at Tampa International Airport for the Summer of 2015 was 97 degrees Fahrenheit (36 degrees Celsius), which took place on July 11. But the humidity raises the heat index above 100.

Coincidentally, the Tampa real estate market is split between two USDA climate zones. The northern zone is where coconut palms and royal palms can be grown. Southern Tampa has much more tropical foliage than the northern parts of the city.

Summer

Finally, temperatures are warm to hot from around mid-May through mid-October. This roughly coincides with the rainy season. Summertime weather is very consistent from June through September. Daytime highs near 90 °F (32 °C), lows in the mid-70s °F (23–24 °C), and high humidity are the norm.

Afternoon thunderstorms are such a regular occurrence during the summer that the Tampa Bay area is recognized as the “Lightning Capital of North America.”

towns
Towns throughout the Tampa Bay Area 1024 675 Relevé Real Estate

Towns throughout the Tampa Bay Area

The Tampa Bay area is geographically spread out from down to the Ruskin area all the way to Clearwater and St Petersburg.  There are tons of ‘towns’ throughout, each with its own individual character.  Here are some quick snapshots of some towns in Tampa Bay.

First of all, South Tampa has historic homes, townhouses, condos, and luxury lofts. Everything from festivals to live music and an active nightlife.

Ybor City. Ybor has “modern and renovated condos, townhouses, and lofts.” Ybor also has restaurants’ and shopping. Looking for the business district? Downtown Tampa is your place. It offers lofts and high rises for places to live in, and with places of interest to see, like the children’s museum.

North Tampa is filled with development and new construction homes.  Retail is starting to fill in the areas along the State Road 54 corridor.  Towns like Trinity, Land O’ Lakes and Lutz are seeing explosive growth.

Similarly, If you want suburban/residential, then you like these areas, New Tampa has lots of ranch-style houses and “family-friendly neighborhoods.”

Brandon is a “Typical suburban community” and it has “everything from apartments to homes.” It’s like any place, depending on where you live will depend on how quiet the community is, or if you are near restaurants, shopping, and bars.”

Lithia/Fishhawk Ranch “offers condos, townhouses, ranch-style, and new bungalow-style housing in basically all price ranges, and is a very family-oriented community.” It is a long drive to the hot spots like South Tampa, Ybor, and Channelside.”

Finally, there is Plant City. Plant City is known for peace and quiet because the houses are further apart.

Which place or neighborhood would you choose from each town?

determining rental value tampa
Determining Rental Value with Your Property Manager 683 1024 Relevé Real Estate

Determining Rental Value with Your Property Manager

Determining rental value of your property is finding out how much someone is going to be willing to pay to rent your investment property. Rental Value in Tampa Bay can be hard to determine if you are just looking on the web.

You can click on this link to get a free customized rental value analysis from us today.

Our current software compares actual rental rates of comparable properties in the local area.  The software company has many clients and can run generic reports for actual market value and rental rates.  This is superior to an estimate on Zillow, Craigslist or other listing services, because you find out what people are actually paying, rather than what a property is listed for.

There are many factors involved, but no one really knows how much someone is willing to pay until they actually pay it.  Then how much it is worth?

For example, a property may be listed for $1500 per month, but then the owner may cut a deal and end up renting it for $1300 per month.  All listing sites have to go on is the $1500, not the $1300, so you may find your expectations are higher than they should be.  Comparatively, you may end up sitting with a property vacant for longer than necessary.

This can work in the other direction with finding some properties that may be underpriced. Reports should be run on your existing portfolio to determine if your rental rates are keeping pace with the current market.  There are many factors involved, but no one really knows how much someone is willing to pay until they actually pay it.  Then that is how much it is worth.

Many properties are advertising top rents and have been on the market for over six months by their Tampa property management company.  From a simple investment standpoint, 6 months of vacancy is going to cost a lot more than renting the unit for $200 less.

Example:  asking rent $1500 per month.  Vacant six months.   $1300 vacant one month.  Over the five months, the unit was rented, the owner collected $6500.  Would you rather your property manager make you feel good, tell you your property is great and they are ‘connected’ and can get top rental value.  Or would you like the $6K in your account?

Determining Rental Value in the current market, there are record numbers of bank-owned properties, which means record numbers of displaced people.  Since supply is low, demand increases and rates are expected to increase.

The vacancy will kill your portfolio.

This way the market determines the maximum amount your property will rent for.

tenant beware
Tenant Beware: Hidden Fees and Costs 640 426 Relevé Real Estate

Tenant Beware: Hidden Fees and Costs

Tenant Beware:  There are many things to watch out for in the current market. In recent years, the rental market has been booming. Data from the most up to date U.S. census shows, over a 10 year period, the number of renters has grown at its fastest rate since 1965. An increase of around 8.5 million renters in the last decade has seen the competition increase and the pressure grow on both renters and landlords.

Tenants face fierce competition to find a suitable and reasonably priced home, while landlords try to get the right rental price for their property in an ever increasingly competitive rental market.

Every landlord is running a business, and like every business, they try to maximize profits. Sometimes a property’s monthly rental cost seems reasonable, but the utilities and other hidden fees can add up to a sizable extra cost for the tenant. Listed below are some of the hidden costs and add-ons you should look out for before signing a tenancy agreement.

Utilities

Utility bills are often overlooked by new tenants are excited to move into a property. To understand the overall rental cost of a property, tenants should take the cost of all the utility bills into consideration. State laws differ when it comes to how tenants are billed for utilities, and what happens in the event of missed payments and utility shutoffs.

Utilities can be part of a total, all-inclusive, rental cost and be billed to the landlord. Other rental properties may require the tenant to have the utility bills in their name. In apartments and flats, master meters are often used by landlords to serve the entire apartment block or building and the tenants are billed individually. This is known as third-party billing and is popular with landlords, as they can advertise a base rental cost, but then charge for the utilities as an extra add-on cost.

Third-part billing regulations

Tenant beware, some cities view third-party billing as deceptive and introduced legislation to oversee third-party billing. Seattle introduced third-party billing ordinance to cover all residential buildings contain over three units, in an attempt to combat deceptive landlords from fraudulently overcharging tenants for utilities.

In 1977, the non-profit Tenants Union of Washington State was formed to offer help, information, and advice to tenants, in regards to tenancy issues, third-party billing and other issues connected to utility costs.

The advice the organization offers is not restricted to Washington State. It is advisable all tenants, regardless of location, follow their advice in regards to utility bills.

– Make sure to ask questions and have a clear understanding of utility services before signing a tenancy agreement

– Act quickly to set up utility accounts

– Always pay utility bills on time and retain all payment documentation

– Take precautions to protect yourself with the landlord

– Try to resolve any utility disputes quickly

Other hidden fees and charges

Some landlords may charge additional fees, other than utilities. Sometimes these fees are optional services and other times they are required by all tenants, depending on the tenant’s specific agreement and situation. These fees can even be related to supply and demand, depending on the competitiveness of the rental market.

Landlords can charge separate fees for parking, and additional costs for any pets at the residence. Landlords may also charge an application fee that must be paid regardless of whether a tenant is approved or not.

Condos and apartments are subject to homeowner’s associations (HOAs), can charge for tenant-occupied units and separate moving in fees. Amenities are not considered utilities, such as internet access and cable TV, under most state ordinances, may be billed to the tenant as an additional fee from the landlord or HOA.

Tenant beware, these additional fees are on top of the security deposit and advanced payment of rent is required by most landlords, usually, the first and last month of rent is to be paid before a tenant can move into the property.

Need advice?

There are many non-profit advocacy organizations around the country are able to offer help and advice to tenants. Most states also provide information for landlords and tenants on their official websites. If you are still confused, or cannot find the information you require, it may be worth consulting with an expert knows the state law and can offer advice and services to help resolve tenancy issues and problems quickly and at an affordable cost.

where to rent
Deciding Where to Rent in Tampa Bay 1024 683 Relevé Real Estate

Deciding Where to Rent in Tampa Bay

Where to Rent in the Tampa Bay area comes with tons of different options.  There is literally a rental property available to meet almost every lifestyle.  The rental business sector of today offers a lot of properties to suit the tastes of both city mates and suburbanites. Tenants simply need to work out which area and way of life suit them best.

Is your fantasy rental property a cool townhouse in the heart of a lively downtown area? On the other hand, would you say you are more suited to the more casual way of life and extensive properties accessible in suburbia?

Suburbia versus the city has been discussed by potential tenants for a considerable length of time. Suburbia tends to offer better schools, more space, and peace and calm, while the city offers unmatched accommodation, energizing city society, and the cool variable of living in the heart of the city.

Every area has positives and negatives to consider. The most essential component is to pick the area that best suits you and your way of life.

Where to Rent – Month to Month

Living in the city is extremely well known for today’s leaseholders and the expense of leasing a property downtown may appear to be more costly than the suburbs. Notwithstanding, shockingly the normal month to month rent of an urban property, $1,640, is really less expensive than the normal expense of leasing a property in a rural region, $1,695.

The month to month rental cost clearly relies on upon the area, a few urban communities cost considerably more to live in an urban zone.

Where to Rent – Space

Per square foot, suburbia offers more space for your cash. Lutz Homes Urban properties cost $1.22 per square foot, while suburbia is less expensive with a normal expense of $1.04.

What amount of space do you need and what number of rooms do you require? Do you need an open kitchen to get ready dinners, or will a smaller kitchen suffice? Do you mind having neighbors underneath and either side of your home, or do you require a more private property area?

Outside space is additionally a thought. Urban condo once in a while have a housetop deck and a little pool, yet rural properties frequently have a great deal more, and bigger, open-air offices.

Do you like getting a charge out of a sunny evening in your own roomy back yard, or is the real trick of relaxing on an overhang and watching the clamoring city life underneath all the more engaging?

City homes don’t frequently incorporate substantial private ranges. Nonetheless, you will be close to the substantial open parks, exhibition halls and other energizing city areas to visit.

Where to Rent -Transport and driving

Do you possess a vehicle? Do you like having the capacity to stroll to the shops, bistros, or the neighborhood bar?

These are contemplations that you ought to consider when choosing where you wish to lease. In suburbia, an auto can be crucial and the expenses of fuel and upkeep ought to be considered in. To what extent will it take you to drive to work and transport associations for driving?

Shopping is less expensive in suburbia than in the city, yet most city tenants regularly needn’t bother with an auto. Most urban zones have incredible open transport choices and can be less expensive and frequently speedier than going via auto.

Where to Rent – Rural and city schools

In the event that you have kids that go to class, this can be the main consideration in your choice. All things considered, schools in the suburbs or Wesley Chapel Homes have a tendency to be viewed as superior to anything schools in the city. Be that as it may, this can differ by area and private tutoring is an alternative in the event that you can bear the cost of it.

Where to Rent -Lifestyle decisions

Previously, suburbia used to do not have the way of life and strip malls of the city, however, circumstances are different and suburbia offers substantially more than they use to.

Today’s rural areas, particularly rural regions near enormous urban communities, have been forming into places for shopping, eating, and more dynamic interests.

You have to choose what best suits your way of life. Would you like to be inside a simple voyaging separation of five-star historical centers and energetic late-night music and excitement regions? In the event that you do, the city is most likely a superior fit for you.

In any case, in case you’re more inspired by eateries and going to social center points from time to time, suburbia might be more suited to you and your way of life.

Whether you are pulled in to the splendid lights of the clamoring city, or the peace and calm and white picket wall of the suburbs, you have a lot of components to consider before settling on your choice. Settle on the necessities for your home and neighborhood, what you might want from the area. When you realize what you need and need, you can discover the property that is suited to your city life or rural way of life.

Homebuying Tips
Homebuying Tips You Can Use 1024 576 Relevé Real Estate

Homebuying Tips You Can Use

Homebuying TipsNumerous home purchasers are extremely tenacious with regards to considering up before they make their buy. Be that as it may, dreadfully regularly 6 critical things go ignored. These basic oversights can bring about you losing cash, squandering time, and cause superfluous misgiving. Presently, we should ensure you think about these basic oversights, so you can ensure they don’t transpire!

1. Resale Value

In today’s lodging market, individuals aren’t staying in their homes the full 30 years like the vast majority of the past era did before us. Things are changing quick and individuals are moving around and esteeming adaptability to an ever increasing extent. Individuals change employments, individuals need to be nearer to kids, essentially, life changes things. This is the reason it’s essential for home purchasers to quickly consider the re-deal estimation of the property they’re thinking about.

Attempt and land something with a more extensive scope of bid, as opposed to a one of a kind home that may just provoke our own advantage. You may even need to talk about examples that your land operator has found in the encompassing territory. Purchasing a home ought to feel right yet it ought to likewise be a handy speculation. Give your heart a chance to impact your choice yet permit reasonableness a spot in the basic leadership process.

2. Concentrating on the wrong costs

Purchasers frequently concentrate so eagerly on the home loan installment and shutting costs that they neglect to look down the line at extra costs that are certain to come up. Obviously, the end expenses and home loan installments are vital yet ensure when taking a gander at your spending you’ve checked the conceivable finishing costs or other extra charges that will unavoidably be incorporated with owning this specific home. It’s flawlessly adequate to approach the merchant for a cost list to make sure you can arrange as needs be.

3. Confinements

More regularly than you may might suspect purchasers finish their buy before they’ve really inquired about the sort of limitations they’ll need to work with. In some cases you may find that you can’t do that extra in light of zoning laws, or perhaps you didn’t understand you’d need to stop down the road! “Limitations” can regularly be totally neglected and they can truly put a damper on the vision you had for your new home. Make sure to talk about a confinements as far as renovating or only all around existence with the home with your specialist.

4. Past work was adequate

Purchasers can so regularly get wrapped up in the fervor of the “ideal home” that they disregard to investigate the past development or remodels that occurred. This is just an issue if the work wasn’t up to the best possible norms. While everything may look fine now, you could wind up forking up inordinate measures of cash to possibly repair an issue you never saw coming. So ensure you investigate all of work that went into your home and that it was legitimately assessed and passed said review.

5. The HOA

This truly just boils down to legitimate due steadiness. Never at any point… ever close on your home without doing appropriate due determination. Normally HOA’s making your living conditions much less demanding yet incidentally you’ll keep running into some sudden show and confusion. There have even been occurrences of potential fines being advanced by the HOA.

6. Have you concentrated on the area?

Ensure you take a gander at the wrongdoing rates, schools in the zone, drive times, and so on. These might sound entirely direct to you yet once more, you’d be shocked by the sort of data that gets disregarded in light of energy over the home itself. Talk about these things with your specialist and in addition whatever other kind of information you ought to search for to settle on the most ideal choice you can. This house is a vital venture and you have to ensure you’re settling on a very much educated choice.

Investment Property Vacancy 150 150 Relevé Real Estate

Investment Property Vacancy

 

investment property vacancy

The current rental market remains strong with rental rates at their highest levels.  Your exposure to investment property vacancy should be very small. The record number of foreclosures in the late 2000s have left many families still unable to purchase a home, bank owned properties sit empty and mortgages are more difficult to qualify for.  Finding an affordable rental property has been a difficult thing to do with a high demand and low supply of available homes.

In these type of market conditions, properties shouldn’t be sitting vacant long in this market.  Most of our clients have new leases started the day after their old tenant’s lease ends.  With 60 days notice and a strong rental market, your vacancy rate should remain very limited.  Any good property manager should, on average be able to rent your property in 2 to 3 weeks, if not, something is wrong.

When I look at properties online I see some that have been vacant for 200 to 300 days??   Seems quite odd and I believe it is mainly from real estate agents telling people what they want to hear and not being responsive to prospective tenants.

This rental market will remain strong for the foreseeable future, but won’t last forever.  Investors should be maximizing  their opportunities while they are there.

For Expert Property Management in Hillsborough and Pasco Counties contact Relevé Real Estate and Property Management.  Elevate your expectations.

counteroffer
How to Make a CounterOffer 1024 576 Relevé Real Estate

How to Make a CounterOffer

Deciding to make a counteroffer can be difficult. Finding the perfect home can be a trying process, to say the least. You’ll encounter a number of houses and people before you finally come across a perfect match. Also, you may find yourself in a situation where you want the home more than the seller wants you to have the home. As heartbreaking as this may be, there’s always more fish in the sea, or in this case…houses on the market.

What can we do if we come across a situation where your offer was rejected? Well, if you’re set on this home then we’re going to have to do a little strategizing. Obviously there’s no obligation for the seller to accept your offer if they don’t want to. They can reject your offer for literally any reason. Every seller you come across will have different motivations for selling and s important to remember. Of course, we can’t guarantee the seller can be convinced to sell at the price point you’re willing to offer so make sure you’re not hung up on a property just wasn’t meant to be.

Let’s dive right into the 3 best ways you can respond to a seller who has rejected your offer.

1. Don’t over analyze

Your first instinct might be to over analyze why the seller rejected your offer. Don’t spend your valuable time looking up the sales history and tax records and comparing everything the seller’s agent told you with everything you think you know. Before you know it you’ll find yourself in a deep hole more confused then you were at the start.

If your offer was rejected its best to speak with your buyer agent and discuss further options. Take some time to think about your next step, and if a counteroffer is right for you. Be open to the idea this house will remain out of your reach simply for reasons you can’t overcome. I’m certainly not advocating you just drop all interest in the house. However, if your first offer was your best possible offer and it was a no go consider moving on. If it wasn’t your best possible offer see option number 2 just below.

2. Go all-in with a counteroffer

If you made an offer and it wasn’t enticing enough to the seller consider making a counteroffer. A common practice is to make an offer with some room to increase if need be. Presumably, you made an offer with a little room to increase, logically the next step would be to make your next best offer and hope this time you land a deal.

Make it clear this is your highest offer and put it in writing. If they still aren’t interested or they don’t respond to you its time to move on. Consult with your buyer agent before you make your final offer and mentally prepare yourself to move on if it doesn’t go through.

3. Put the home behind you

Purchasing a home is an emotional experience, you might find yourself emotionally attached before you’ve even closed on the house. It’s important to put a home out of your mind immediately if your counteroffer was rejected. Lingering on the home and questioning why you didn’t get it will distract you from finding a new one.

Take this time to reflect on the process and prepare yourself for the next one. Remember some of the features made this home so inviting to you. Just because you didn’t get this home doesn’t mean you have to sacrifice those important qualities. Certainly not all homes we’re created equal but you’ll always find similarities across the board when house hunting.

Get out there and get to know more houses, each one has something new to offer you. Relax and enjoy the home buying process, as taxing as it may be. Your agent will be there to guide you through the whole process and make sure you don’t settle on a house lacking your dream requirements.

Odds are you’ll come across another home down the line is even more perfect for you than you had ever imagined. For every seller to reject your offer there is one waiting to close on the house of your dreams. Get out there and continue house hunting, your dream home is waiting.

Tampa Bay Rental Home
Tampa Bay Rental Home Demand 1024 819 Relevé Real Estate

Tampa Bay Rental Home Demand

Tampa Bay Rental Home

 

The Tampa Bay Rental Home Demand continues to accelerate.  Contact the local agents at Relevé Real Estate now for expert property management.

The current tenant called and gave their 30-day notice they would be moving out.  Immediately the ad went up and 24 hours later we had an application in on the property for $200 more than what the current tenants were paying.

Although this is a fast example, the Tampa Bay Rental Home demand for rentals has been soaring, where homes in good areas are only staying on the market 2 – 4 weeks.   Many prospective tenants are aware of how quickly properties can go, especially in Lutz and Land O’ Lakes, where they know they have to immediately jump on something they like before it is gone.  Owners are reaping the rewards of their investments like never before.  No vacancy and increasing rental rates are keys to investors success.

From Wikipedia, Tampa is a city in and the county seat of Hillsborough County, Florida, United States. It is located on the west coast of Florida on Tampa Bay, near the Gulf of Mexico, and is part of the Tampa Bay Metropolitan Area. The city had a population of 346,037 in 2011.

Census data showed an average annual growth of 2.47 percent or a gain of approximately 97,000 residents per year. Between 2000 and 2006, the Greater Tampa Bay Market experienced a combined growth rate of 14.8 percent, growing from 3.4 million to 3.9 million and hitting the 4 million population mark on April 1, 2007.A 2012 estimate shows the Tampa Bay area population to have 4,310,524 people and a 2017 projection of 4,536,854 people.

If you had a tenant turnover and had your property sitting vacant for a month, then you would have to cough up the money for the mortgage, putting a $1000 –$1500 loss on the books, then it takes you a month to make it up and can kill your cash flow for the year and losing out on Tampa Bay Rental Home demand.

For property managers who manage your property as if it were their own, contact Relevé Real Estate and Property Management.

lutz home bidding
Lutz Home Bidding Wars 1024 682 Relevé Real Estate

Lutz Home Bidding Wars

lutz home bidding

Excessively numerous individuals experience an extreme time when they are attempting to set aside cash to purchase their fantasy home. One basic test that makes the whole procedure unpleasant is the opposition from other potential home purchasers. The huge fish out available target and the shallow pool of properties accessible. On the off chance that you don’t have enough cash to coordinate their offer, you’ll presumably miss out. However its each of the a matter of point of view, so lets talk about why being outbid may really be the best thing that can happen.

Being Outbid can be a Good Thing

While it can be unpleasant to put your offer on a specific property that is focused by the super-well off, it can likewise have a few advantages. One magnificent actuality is that being outbid in one home is not the end of everything. Assume you are outbid by a higher offer than the one you put on a particular home, there will dependably be another home somewhere else! There is constantly another home that will furnish you with the elements you’re searching at an a proper cost.

Saving Cash

One thing about being outbid on a home is that you wind up securing your financial plan. Stay with your financial plan and attempt to maintain a strategic distance from an offering war that could lead you well outside your agreeable extent. This implies you will spare cash and abstain from blowing your financial plan.

A few people commit the error of putting a higher offer just to win and secure proprietorship. Then again, you now have plunged into your stores and can no more stand to roll out the improvements you were wanting to make. Without the financial backing expected to remodel your home, it might never be the home you were trusting it would be.

Effective Methods for Being Outbid

A ton of potential homebuyers are tensed when they can’t win the offer and be the proprietor of a particular property. It is about being shrewd and utilizing the right techniques and tips to abstain from overspending and keep focused safe side. Here are a few bits of knowledge to bail you out.

What is Your Financial Plan?

Before you consider putting any offer on any home, you ought to again consider your financial plan and figure out whether you can bear the cost of the property or not. The point here is to buy what is inside your achieve, taking into account your funds. This implies current budgetary circumstances and conceivable future money related circumstances.

Don’t Get Scared

As you are planning to put an offer on a specific home, dependably remember that a few offers can be rejected. Never fear putting an offer on any home of your decision.

Know when to say When

Comprehend what it is that makes the property so engaging you and comprehend what it may cost to add such components to another house with a lower sticker price. Set your financial plan and go into the procedure in light of go down houses. Having a go down will permit you to stop at your point of confinement without any difficulty.

The Offer

You may experience a circumstance where the underlying cost of the house is truly very low, yet the last bidder will pay twofold the cost. Accordingly, examine the quantity of offers of a specific home before you surge in. Now and again you’ll run over intentionally low evaluating endeavoring to make an offering war. Keep in mind attempt to maintain a strategic distance from an offering war if conceivable.

Older Homes May Have More Value

At the point when the offering war is warming up on the top homes in the business sector, you can utilize this chance to search for more seasoned homes that need a touch of redesigning. Here, you won’t just spare cash, however you will have the opportunity to revamp the home to coordinate your inclination.

Have a Backup Plan

Before you partake in an offering war, you ought to dependably have a reinforcement home (as said prior) that you will swing to when you are outbid. This spares you time and extras you the anxiety of searching for another home once your objective home is no more. The reinforcement home can be well inside the cost and territory or in an alternate neighborhood all together. With everything taken into account, guarantee that you know where to swing to after you lose in an offering war.

You ought to set your financial plan and decide the “no-go zone”. On the off chance that any other person puts an offer that is past your farthest point, you will need to haul out as quickly as time permits. This will obviously spare you cash and keep you from making a buy you truly can’t bear. Anybody can be overpowered with regards to offering on a stupendous home. In any case, it is constantly encouraged to consider the consequence, and figure out what you will pay over the long haul. Continuously adhere to your financial plan, regardless of how exquisite and appealing the objective home appears. There will dependably be another home holding up to give all of you the elements you’re searching for at the value you need.

Bradenton Property Management Perspective 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
Heritage Harbour Property Management Perspective 1024 768 Relevé Real Estate

Heritage Harbour Property Management Perspective

 

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 neighborhoods.  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 around.

River Strand is Heritage Harbour’s newest neighborhood. 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.

Property Management Lakewood Ranch Perspective 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.

landscaping
Landscaping and Curb Appeal 1024 640 Relevé Real Estate

Landscaping and Curb Appeal

landscapingYou may see your new yard as a clear canvas, yet ensure you consider your alternatives before you begin burrowing. In this way, you’ve at long last had your offered acknowledged and you’re anticipating getting the chance to chip away at the vision you have for your new yard! All things considered, the terrible news is that the green grass covers horrible soil and unattractive pipes and wiring that have been secured for quite a long time.

While the uplifting news is that there’s still a lot of time to rescue this. The weeds haven’t overwhelm your yard yet there’s still a lot of green life left in that grass. Here we will cover five rules to help you enhance your yard and make an outside space you can appreciate for quite a long time to come.

Get your beds all together

Whether you have new top soil or old earth that has been utilized to fill fixes, your ground will require some work to end up fruitful soil.

It is decent to have an unending supply of free fertilizer, in any case, it takes some an opportunity to normally develop natural manure from the grass trimmings alone. The option is to purchase sacks of fertilizer, with bundled bovine compost (a prevalent decision).

Another alternative is mushroom fertilizer. In any case, this can be hurtful to youthful seedlings and any plants and blooms that are delicate to salts, for example, camellias and azaleas.

Work out the lay of the area

You might need to begin planting the vegetable patio nursery you generally needed when you move in, yet you should ensure you know where is reasonable. Does the spot you have as a primary concern get enough daylight and does it have reasonable seepage to keep it safe from puddles?

To begin with, I would propose that you draw out an outline of your yard. This will help you to imagine what you need and recognize potential issue ranges. Ensure you highlight the ranges that get a lot of daylight and the territories that are for the most part in the shade.

Try not to stress if your graph looks somewhat untidy. For whatever length of time that it helps you to effectively arrange the format of your greenhouse and you can comprehend what you have drawn.

Dispose of any undesirable developer plantings

The developer plantings that are in your new yard may look sufficiently safe, however they might just develop into beasts that cause you a bother later on.

Ensure that you appropriately distinguish the greater part of your current plants, and judge whether they are reasonable for you. A tree that drops muddled leaves on your garden, or organic product that requires gathering can be a ton of work. On the off chance that you abandon them to their own particular gadgets, they can piece depletes and even stain your clearing sections or garage.

Trees with frail wood may snap at a later date and harm your home. While an intrusive types of plant may assume control over your entire greenhouse. A few types of plant are fine when they are in the right area. Nonetheless, in the event that you surmise that it might become too enormous or is found excessively near your home it is best to have it expelled.

Arrangement for what’s to come

What is your greatest need in your yard? Perhaps it’s having loved ones approached appreciate the night?

Attempt to envision yourself, your children, accomplice, and your family or companions, 10 years later on. What will the need in your yard utilized for then?

It may be extremely enticing to go the additional mile and totally redo the entire region with a hot tub and quality arranging/options however don’t use up every last cent on the off chance that you don’t need to. Consider regardless of whether these augmentations will be appropriate for you and your family later on? You can have the greenery enclosure that you have constantly needed, however will you need the same things when your life circumstance changes later on?

Make a begin with groundcovers and some mulch

Weeds are unavoidable in the patio nursery. In any case, inadequately kept up grass and garden beds that need consideration are the ideal reproducing ground.

Mulch is extraordinary for keeping the dirt soggy, so begin with a two-inch layer of mulch. Ensure that you progressively eliminate utilizing mulch inevitably, as it can be costly and even remove supplements from your dirt.

Present crawling phlox or another groundcover species like mondo grass around the edges of your fringes when you plant another bed. Groundcovers stifle weeds and can spare you bunches of cash and exertion as time passes by.

Lutz Rental Property
Lutz Rental Property Tax Implications 1024 576 Relevé Real Estate

Lutz Rental Property Tax Implications

Lutz Rental PropertyProudly owning a apartment belongings poses tax concerns which are greater complicated than the residential belongings you stay in and will require a more subtle tax method. Underneath is the tax facts you need to recognize as well as a few top tax hints for owners of apartment residences.

Condominium property tax considerations

Whilst filling out your tax returns, your condominium belongings is listed in schedule e, which documents your tax yr earnings and expenses from the belongings itself. Income covers the condominium bills you acquired at the same time as costs covers your loan, maintenance and preservation, utilities, management prices and all other prices associated with the assets.

In case you pay factors on the mortgage you used to purchase your rental assets, you can not deduct them completely out of your taxable profits like you can on a assets bought for house. You ought to deduct the points over the complete length of your mortgage.

If the rental earnings from your private home exceeds the charges that the belongings incurred itself, remember that profits is taxable.

If your private home’s expenses are larger than the agenda e rental profits you gathered, you can deduct any losses out of your taxable profits in case your non-assets primarily based earnings is less than $150,000 inside the tax 12 months. If you earned less than $100,000 in non-property profits, you can deduct up to $25,000 of any losses your condo property incurred and if your non-belongings income is among $one hundred,000 and $a hundred and fifty,000, you may deduct as much as $12,500. If you earn a non-property profits above $a hundred and fifty,000 you are not able to deduct any condominium belongings losses out of your taxable income.

In case your earnings are above the edge to deduct any apartment assets losses, you can amass losses as a counterbalance to capital gains taxes while you promote the property.

Communicate to your tax adviser to see whether or not you may deduct condominium losses out of your taxable profits or whether or not you may accrue losses towards future capital profits taxes.

Tax issues when promoting your rental belongings

While you sell a condo property, you are answerable for capital profits taxes for your appreciation. It’s recommended that you are looking for out a tax adviser to present you an accurate breakdown of your costs and any earnings on the way to be taxable as capital gains. But, there’s a easy procedure to be had to offer you a difficult concept of your internet income and estimate of your capital gains taxes. Take your property sale rate and deduct the acquisition charge, the price of any adjustments to enhance the assets, and all selling costs (including local taxes, agent fees, etc.) the figure you are left with is your capital advantage at the assets, and based on your non-property income, you may have to pay as much as 30% in federal and state taxes for your capital gains. Allow’s see an example of the way this formulation works.

If you obtain a rental belongings 8 years ago for $2 hundred,000 and positioned 20 percentage down with a preferred 6% constant rate 30 12 months loan, your present day balance might be $140,435. In case you made $10,000 in upgrades to the property over the 8 years and bought it for $300,000, without a losses to offset you would be left with capital profits of round $69,000, after paying local taxes, agent charges, and so forth. Of the capital gains accrued you will need to pay someplace among $17,000 and $21,000 in taxes, leaving round $120,000 from the sale of the assets.

A way to reduce condominium property capital profits taxes

If you intend to shop for a new condominium belongings straight away after selling you can defer paying any capital gains taxes. The 1031 exchange irs gain allows you to defer paying any capital gains taxes if you could discover, in writing, a new apartment property within forty five days and entire the purchase of the assets within 180 days of selling your preceding rental property. To defer paying any capital gains taxes your new apartment property ought to be of at least equal fee of your bought property and also you have to invest all the proceeds out of your condo belongings sale. The 1031 change defers and does now not get rid of the taxes at the sale of your apartment belongings. However, the irs does no longer prohibit turning your new apartment property right into a number one house within the future. Earlier than taking element in a 1031 trade you need to consult a tax consultant to make certain eligibility and how it relates to your unique tax situation.