Harley Guy Real Estate Homes

A Real Estate Guide

Real Estate booming in the Pre Construction Condo Market

Everyone is chatting about the real estate market and the boom it has been experiencing in the past several years. House prices are sky rocketing with little inventory and plenty of buyers looking for a new investment. For the most part investors are looking into different aspects of the real estate market. At the moment the hottest market is the condo market, specifically in the pre construction sector. Savvy investors have been purchasing condo units before the project even starts. Usually investors register for a unit and if they are lucky enough they will have chance to purchase a property before the general public. This has proven to be very beneficial because the unit price is the lowest, as sales begin the price per square foot increases as the project gets closer to being sold out.

This isn’t as easy as it sounds, most developers have a system for their sales team. Friends and family get first choice followed by a few select VIP Brokers, then secondary Brokers, followed by all real estate agents. Finally the general public have a chance, but usually by this time the project has sold out. You really have to know someone who has early access. I have worked in the real estate market for the past ten years and I have made friends and professional connections to many of these developers. I pride myself to only work with the best condo projects in the market. If you are looking for more information concerning purchasing  pre construction condos, please read my article on real estate investing for detailed information.

Purchasing a pre construction unit has many benefits which I will explain briefly so you can understand the process a little better. First of all you can literally purchase a unit with as little as 5% down, meanwhile you have the luxury seeing your investment grow at the full purchase tag.  For example if you purchase a unit worth $500,000 with a 5% down payment which equals $25,000.  For just an investment of $25,000 you will have the rights to a $500,000 unit.  By the time the project is finished and this can range from one to four years your condo can be worth $600,000.  Now tell me in which market can you quadruple your initial investment in as little as for years, that is a return of 400%. To me that is a no brainer, with this type of strategy you will be building real estate wealth in several years and have millions of dollars in equity in a short period of time.

Please send me an e-mail if you have any further questions or if you a looking to purchase any type of real estate property.  As always have a great day and hope to hear from you soon.

Is Going FSBO Worth It?

Sometimes I’m not in the best frame of mind to be answering this type of question and will reply with something along the lines of:  Have you lost your mind?  If you are asking this question you obviously have no idea what you are doing.  Mind you, I usually try to be helpful but sometimes…Funny though, I never see anyone complaining that their appendix need to be removed and since they plan on doing it themselves will someone tell them how to do it.  But I’m not going to go there with this post.

Since I’m feeling generous tonight I thought I would post one of my helpful answers here:

Determine your price. Take into account that the sales in your area most likely have a commission built into the sales price and adjust yours accordingly.  Be prepared to receive low offers. Have your title company or attorney lined up. Line up a couple of lenders to qualify buyers. Get the proper disclosures and have offers to purchase available. Make sure you have plats or surveys available. You might want to have an inspection done. Go ahead and take care of any issues the inspector finds. Make the inspection report available. Declutter. Get rid of all the personal stuff like all the kids photos. Rent a storage building if you have too. Take care of any work to the house that needs to be done. Make sure landscaping is in good shape and house has best curb appeal possible. Advertise it everywhere you can think of. Know the law on advertising, what you can and can’t say in your ads.  Keep it in showing condition at all times. Do not make viewings difficult. You will need to be readily accessible and available to show.

Risks: You shoulder all of the liability. If you check lawsuits involving real estate, most are FSBO (can’t remember the actual stat). If you have a buyer and a seller who don’t know what they are doing, someone is going to get mad and feel they have been wronged.

Be very very careful when showing the house. It’s sad to say but the criminal element is targeting homes for sale. REALTORS® are being lured to homes to show to people they have never met and are being killed, raped and robbed. Criminals will see the house then come back later, break in and clean it out. A couple will come to the house. Then they split up. While you are showing to one of them the other cleans out jewelry boxes and medicine cabinets. So be sure you know who you are showing it too. If you get a bad feeling, trust it. REALTORS® can have the potential buyers meet at their office where the staff or others will see them. Some offices make it a policy to get a copy of the buyers drivers license prior to showing homes to them. If they have ulterior motives they will normally not agree to meeting in public. You don’t have that option.

Be prepared to list it with a REALTOR®. 3 out of 4 FSBO’s list their home after 3 months of trying to do it themselves.

Of course, this is very simplified but it answers the question.  It’s not rocket science but it’s not as easy as the above makes it sound.  It’s about marketing, education, experience and resources.  If you are one of the three out of four who eventually list with a REALTOR®, make sure you hire someone who has all of these qualities in order to get the job done!

Getting Ready to Move? Things You Should Do Before Moving

Moving out of your home can be exciting, but also stressful. If you are planning to move, a little preparation will go a long way toward making the move smoother and stress-free. Check out these tips for what to do before moving.

Pack carefully. Record what is in each box and mark the outside of boxes with a number system or a room name.

Contact utility companies, delivery services and the post office. Schedule utility shut-offs for moving day or shortly afterwards. Transfer delivery services to your new address or cancel them completely. Process a change of address form with the post office.

Prepare appliances for the move. Drain water hoses, secure moveable parts and empty out contents. Defrost the freezer.

Organize those who will help you move if you are not using a professional moving service.

Make travel arrangements if you are moving out of town including hotel reservations until your furniture arrives to your new home.

Pack valuables and important documents to carry with you.

Cancel checking accounts or notify the bank of your new address. Secure cash for traveling to your new location.

 

What Does Your Entryway Say About You?

The front door of your home is the first area visitors to your home see. So what does your entryway say about you?

The entryway to your home is a big clue to your personality, style, and character. You can use this aspect of home design to show who you really are. Check out this guide to front door meanings.

Red: A red front door conveys you are full of life, full of energy, and hospitable.
Multicolor: Multiple colors on your front door tell the world you are artistic, joyful, and eclectic.
Dark-Stained Wood: This kind of door gives the impression you are generous and kind.
Mixed and Unmatched Colors: This Scandinavian-type door conveys complexity and means a deep thinker resides inside.
Middle Eastern-Inspired: You’re orderly and sweet.
Clear Glass: You literally are an open book — open-minded and friendly.
Grey: This blending of black and white is the color of compromise, which means you are traditional and solid.
Pink: You romantic, you.
Black: This door color transmits strength and authority. It also can mean you’re a tightwad.

Making Your Home Purchase Offer Rise Above the Rest

The real estate market is in a unique position right now. With low inventory, it really is a seller’s market. As a result, getting your offer accepted is not as easy as it used to be. When you find the place that you really want, having everything prepared can improve your chances. Start by getting a loan pre-approval and having proof from your bank that you have the down payment accessible. This can go a long way to showing sellers that you are serious. Because pre-approvals are becoming common, consider going the extra step and asking your lender for a Desktop Underwriter approval letter, which shows that your loan application has even been underwritten.

Avoid offering below the sale price when possible, because buyers are offering over list price to gain an advantage. If you are a cash buyer, you can leverage that, but do not assume that you will be the only cash buyer in the deal. Limit the contingencies in your offer, or eliminate them completely. Then, follow up with the seller to remind him or her that you are interested.

 

Best Moves for Real Estate Buyers

Buying a home has really become a challenge in the past few years. Buyers have had to get creative in order to get approved for a loan and they have had to save for the down payment. Here are a few moves that home buyers can do in order to get the loan and the money for their first down payment.

The Best Moves for Home buyers

Do not wait for the seller to accept a low bid. Offer the seller something that they cannot turn down. If it is your dream home, you may want to pay the asking price.
Offer a large down payment in order to get a great rate on your loan.

Allow the seller to pick their move out date. Sometimes people have to move in a hurry and they end up in trouble. Give them the time they need.
To get the best rate on your loan get one quote from one bank and then take it to another bank to see if they can beat the first offer.

Buying real estate can be a real challenge for home buyers. If you have any questions about buying real estate, then you need to call Sid Marks. He can help you get into the home of your dreams and help you through the home buying process.

Closing on your Dream Home

When you find a home that you really love you may have to make an offer right away. Try and make an offer that is reasonable so the current owner is more likely to accept your offer. Once the offer is accepted you will have to go through the closing procedures in order to move into the home. Here are a few thoughts about the closing procedures.

Closing on a Home that You Really Love

Keep any requests reasonable towards the seller. They may want to sell the home but not if it is going to cost them a lot. Make sure to satisfy the seller’s needs. They may want you to do something like pay closing costs or pay for the inspection, so be willing to give some back. Have all of your finances ready to go before making an offer.

When buying a home take the time to get some quotes from insurance companies in the area.

For more information on closing a home, please call Sid Marks. He is a real estate agent that uses his knowledge to help his customers. He can help you close on the home of your dreams and answer all of your questions during the process.

Tips On Getting Your Offer Accepted

When you are making offers on a home, you need to know how to get the offer accepted by the seller. Although each seller might have specific price points in mind, you can make a solid impact on the seller if you prepare in advance.

Get Paperwork Together

Paperwork that shows you are capable of paying for the home is an essential element of getting your offer accepted. Show that you are preapproved for a mortgage or give documentation showing that you have enough money in the bank to pay for the entire price of the home. That financial proof will put the seller’s mind at ease.

Limit Conditions

When you make offers on houses, you do not want to put too many restrictions or conditions on the offer. Although you might put in a clause related to a home inspection, you should not put in several clauses that may insult the seller or make your offer too complicated. Keep it simple and avoid unnecessary clauses.

Making an offer on a home is not hard, but getting accepted requires proof that you can pay and a simple contract