Posts Tagged ‘Neighborhood’

The Benefits of Buying Real Estate in a Bad Neighborhood

Wednesday, October 27th, 2010

When people call me, typically one of the first requests they make is for a house in a “nice” neighborhood. And this makes sense to want a neighborhood that is safe and enjoyable. But there are some benefits to buying real estate in the rough part of town or on the wrong side of the tracks. This article highlights some of them.

- There is less worry of your neighborhood going downhill because it is already downhill. Good neighborhoods can get bad and bad neighborhoods can get better. Since the price usually reflects the current condition, buying in a neighborhood that has room for improvement might be a good idea.

- If you are buying a rental, you usually get better cash flow in rough neighborhoods. If you are renting your property, there are more renters and they are more long term. It’s difficult to rent in good neighborhoods because fewer people are looking to rent and those who do are generally there short term while they look for a house to buy.

- You can look better in comparison to other landlords. Landlords in rough areas frequently don’t maintain their properties as well as people in nice areas. Therefore, if you maintain your properties, you can blow away your competition, and charge more for it.

- If you are in a rough neighborhood, you can propose that your property change will improve the neighborhood and you have a better chance of getting a different zoning. Conversely, if you are in a good neighborhood, it’s hard to make the same argument.

- You can buy more property. If you want to spend 500k, you can either buy one house in an upscale neighborhood or six or seven houses in a rougher neighborhood.

- They’re more recession proof. When the economy goes south, real estate in rough neighborhoods is less affected.

In summary, I am not saying you have to buy in a bad neighborhood. But simply that if you are looking for long term investments sometimes its a good idea to wander over the tracks and look around a bit.

Why You Should Know Home Selling Prices – And How to Find Out What They Are

Thursday, February 25th, 2010
Brian Shelton asked:




Fact: The single most important factor in selling your home quickly is the selling price that you set.

Fact: Houses that are priced at more than 10% to either side of the average recent home selling price in their area will sell more slowly or not at all.

Fact: Setting the right price for your home for sale requires more than just knowing your tax evaluation.

Those are all undisputable facts about home selling prices that any Realtor or real estate agent will happily confirm. Choosing a home selling price is more than a matter of wishful thinking, or deciding how much you want to make.

There’s an old Realtor’s saying: Never buy the nicest house in the neighborhood. You’ll never get the money that it’s worth when you sell. No matter how much more than other homes in the area your house is worth, you’re unlikely to find a buyer willing to pay more than about 10-15% more than the average home selling price of other homes in your neighborhood.

If you price your home too high for the location, whether it’s because the house is worth it, or because you have a mistaken idea of its value, it will likely linger on the market. And the longer it’s on the market, the less likely it is to sell for its original asking price. Both Realtors and buyers will start assuming that ‘something must be wrong’ with it.

You can avoid the whole situation by setting the right home selling price in the first place. There are a number of ways to settle on the selling price that’s right for your home.

Consult a Realtor

Since selling homes is their business, Realtors are more likely than anyone else to know the best selling price for a home in your neighborhood. Realtors will use their knowledge of local home selling prices to make a recommendation for the best price range for your home. You’re not bound to accept it, but it’s what you’re paying her for, after all.

Check Recent Home Selling Prices Yourself

Keep an eye on classifieds and home for sale listings, and note which ones sell and for how much. Follow up with research at the county

Registrar of deeds office, or online at your county’s web site. You can also get a free valuation suggested home selling prices for your property at web sites that offer free online appraisals.

Get Your Home Professionally Appraised

It will cost you between $200 and $300 depending on where you live, but it is the most accurate way to determine the value of your house. That will help you determine a good price by allowing you to compare it with home selling prices in your area and make adjustments.

Whatever method you choose to find the value of your home, remember that the key is adjusting the value to set a home selling price in line with your neighborhood.

Making Your Real Estate Blog Interesting

Saturday, January 16th, 2010
Carolyn Capalbo asked:




If your blog is just a repository of your latest listings, it’s time for you to make a change. One way is by connecting features in your listing to interesting information – history, how-tos, stories, etc. By making your blog of interest to more people than just real estate buyers, you will gain authority and influence beyond your sphere as an agent. In turn, this can help with your marketing of your services.

For many agents, the blog on their website is for showcasing their listings and bringing new listings to the attention of their readers. But does this really give you an audience? I mean, sure, if your readers are interested in a 3 bedroom, 2 bathroom home in Neighborhood X in City Y, maybe your latest blog post will be of interest to them. For most of the mortals casually visiting your website, it’s just another boring listing – something that takes them a tenth of a second to glance over and discard.

Imagine, though, what they might do if you had the beginnings of an interesting story or some history about the house style or a how-to?  They might be encouraged to read further.  Reading further means that they are interested.  If your blog is interesting, they may well come back – just for the articles, but in the meantime, your name and business are getting branded on their minds – or tell their friends or post a particularly interesting post on their Facebook or Twitter… and suddenly your blog gets a lot more hits and you get a lot more free advertising.

How do you make your listings interesting?   Start writing short blog posts to go along with them.  Make them of note to people interested in real estate, the community the home is in, or the history of home styles or home construction.

History of historic home (if you know it) and how it relates to the history of the community History of the home’s construction style (Victoria, Craftsman, etc) Interesting tips about renovating and maintaining older homes. Home care tips are always popular, especially seasonal maintenance reminders Eco-friendly home solutions are getting huge amounts of popularity Gardening advice Staging advice for home sellers Moving organization advice Garage Sale tips Home buying tips

If you don’t know a lot about a subject, this is a great time to contact your local experts and feature their wisdom on your blog. Many people will be happy to share their expertise, especially if you’re giving them or their business free advertising.

Make your blog entries short: three to five hundred words. Make them concise. If you want to really make your listings shine, make a feature of the listing a key point in your blog post. Go local; if you need information, go to or email a local business for information. Talk about local events. This is a wonderful way of establishing links in your areas of service.

Your blog can be more than just another listings repository. Make it shine with information that interests, excites and informs your audience and you will develop a following that can net you leads in the future.

How to Secure the Best Deal on Newport Beach Real Estate?

Saturday, January 9th, 2010
Sophie DSouza asked:




Buying a home is no small task, especially in a prominent area such as Newport Beach. It’s not just because you’re making a big investment, although that’s definitely part of it. It’s also because the choice you make will affect you for at least the next few years, and often in more ways than one.



Unfortunately, not all home buyers have the knowledge and savvy it takes to get the best Newport Beach real estate. That’s why it’s important to work with professionals— realtors who can guide you through the process and help you make the right decisions. Below are some of the things a good Newport Beach realtor can do for you.



Planning and budgeting


Your first step is to plan your purchase and set your budget, and it takes more than a look at your bank account to do that. You need to plan for the long term, taking your credit, your income, and your current spending habits into account. A Newport realtor will have lots of experience working with buyers like you, so he or she can help you set more realistic goals.



Faster search


Newport real estate is one of the busiest markets on the California coast, and a buyer will be faced with a hundred choices before they find even one that fits. It doesn’t help that many builder’s agents are trying to get hold of unwitting buyers. With a good Newport realtor, you can narrow down your choices to those that are really worth your time.

Local knowledge

Often, the only way to find out what a neighborhood is like is to live in it—and that’s a bit too late for most home buyers. Your best bet is to ask locals and consult your realtor. Most Newport Beach realtors can show you a demographic profile of the city’s various communities, and help you choose a neighborhood that fits your lifestyle.

Paperwork

A lot of paperwork goes into buying and selling real estate, and as is often the case with paperwork, a lot of it comes with fine print and industry jargon. Going through all of them can easily take up hours of your time. Your Newport Beach Realtor can help you read through the paperwork and explain any vague parts, so you know exactly what you’re signing.



Pricing and negotiation


Agents don’t always select prices for their clients, as many would have you believe. They will, however, guide you to make more informed pricing choices. Your Newport Realtor can supply you with the data and show you how they affect your budget, and let you decide on your own. They can also help you plan a negotiation strategy to get your fair share of the deal.

Post-closing assistance

The questions seldom end once the title is transferred, even if the transaction went as smoothly as it could. Again, that’s where Newport Realtors can help. A good agent can help out even after you’ve moved in, whether for documentation stamps, delayed transfer taxes, or property tax assessments.

Myths About Real Estate Agents

Wednesday, April 15th, 2009
Escapeso Austin Real Estate asked:


There are some myths about real estate agents, many of which not so flattering. But when it comes down to? L, real estate agents no est? No too far out all?, And there is an Explanation? Nl? Gica each misconception. Let 's straightens out myths and facts of a pair. Myth # 1: They have big hair. Fact: Although real estate agents occasionally have big hair, est? m? s regular people who get up in the ma? ana just as you do, and go to work just like you do. Many real estate agents, in fact, stress will be bald any loss of hair related. Same with the dagger-shaped manicure luxury, in actuality, many realtors have bitten his stick down to pieces. Myth # 2: Real estate agents drive luxury cars while talking on their phone? Cellular phones. Fact:? Itâ? s true that real estate agents est? n often trying to do too many things at once, but they like to be careful about? l. And while the Realtors would like to make a good Impresi? No you, often leading Honda and Toyotas and hope their hard work will sell?, Not its Lexus.Myth # 3: estate agents know her? Area. Fact:: Just like normal people, cane estate agents? t know everything. ? Although the Conducció spend time? N around town, they cana? t est? in all places at once, and they themselves probably have preferences for one neighborhood against another. Make clear to your agent qu? a little? area you want to live in, and? l can help you look inside that secci? n the city. Myth # 4: Real estate agents live outside of time. Fact: Realtors have lives too? N, and those lives happen to occur in the same realm f? Psycho who do theirs. While it might seem like an extra piece go? Or disproportionate time talking with you, est? No really trying to be as time-conscious as possible, so that you can move m? Sr? Pidamente home and can move m? sr? pidamente the help of her next customer. Myth # 5: Real estate agents just want your money. Fact: Qu? estate agents really want is a life f? cyl. ? Want to help you find a home you love, and want to do their (often small: o) bitten off by the commission? N it (and that?? S for sale, not out of pocket) . They do not want your soul or your firstborn, just some patience, considerations? N, and a home-buying experience positive for everyone.

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