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Home Buying & Selling Blog

Spotlight Real Estate - Home Buying & Selling Blog

Tips For Finding An Experienced Real Estate Agent

maple ridge real estate for sale

There are many real estate agents out there, but that does not mean that they all provide the same level of service and professionalism. When going through the process of buying and selling your home, you want to have the best person on your side. Use the information below to learn about the best way to find a great agent that will give you the attention that you deserve.

The first step you should take is to inquire with your friends and family member about who they hired before. “Recommendations from friends or family are an excellent way to find someone because they can give you a personal perspective on their experience with the agent and give you a gauge as to whether or not you will be satisfied with how they do business.” states Lisa Thomas of Cardas Mugridge – Maple Ridge real estate experts.

However, you do not want to take any recommendations for their face value. Just because they had a great experience does not mean that you will, nor does it ensure that your personality will mesh well with theirs. You also want to take some time and investigate how others feel about them as well. There are numerous websites that specialize in allowing consumers to share their service experiences. Look up the agents that you are considering to see how others feel about them.

realtor signOnce you have narrowed your search down to a few real estate agents, you will want to arrange some time to meet with each one. Be ready to ask them any questions that you may have and evaluate their interest in answering them as well as their individual personality. You want to be sure that whoever you will be working with for an extended period will be more than happy to be sure that you understand all of your options and as much about the process that you desire.

Once you have interviewed a few agents, you will then need to make a decision. Take some time to consider their differences and whether or not you would enjoy working with them. Remember that personality means as much as their professionalism.

Now that you have read the tips above you have the tools that you need to find the best real estate agent in your area. Take each step and make sure to pay close attention to detail. Doing so will significantly improve the experience that you will have.

Finding A Reliable Property Management Company For Your Investment Property

finding a property management company

If you have an investment property such as a single family home, or even a condominium, it’s a good idea to hire a property management firm that can help you with this investment. Many people are not skilled at managing properties, and even more limited if they have to evict someone that is not paying. All of this can be handled by businesses that do this every day, some of which handle hundreds of properties throughout the month. To find the one that will help you the most, you only need to choose a business that has a high reputation, information that you can verify on the Internet.

What Property Management Companies Do

These are businesses that can handle all of the paperwork that is involved with renting out investment properties. They can manage single family homes, duplexes, and even buildings, using their trained professional staff members. These companies can do so at an affordable rate, allowing you to justify using their services. You will still be able to pay off the mortgage that is on the property, and at the same time, generate a good income. These are best used if you have multiple properties, especially those that are rented out to many different individuals and families. Keeping track of all of the rent that is due, evicting tenants that need to go, as well as to handle any physical problems can be dealt with using a property management company.

How To Evaluate Them

services of a property managerThe evaluation process doesn’t take that much time at all. You may have friends or colleagues that also have rentals that are handled by a local company. Based on their recommendation, you can contact these businesses to see if they have a few openings. “The larger the company is, the more likely it will be that they will be able to help you with your situation.” says Wendy McAnn, a property management expert located in Mesa, AZ.

Additionally, you can search on the web for businesses that offer this type of service and look at what others are saying about the services rendered, leading you to the best potential companies. Despite getting all of this information, there are a few other things to consider before just hiring a company that comes with high recommendations. Other factors to consider include the type of customer service that is provided, and how large the company is.

Making The Best Comparisons

It is not enough to simply look at what other people have said. You need to get a price from each of these companies, particularly the ones that have the highest levels of approval. You simply need to choose the one that offers the lowest price for identical services that are offered by all of the other businesses that provide property management services. You should also consider the type of people that you plan on hiring. If you feel that you are not comfortable with them due to their attitude, or perhaps not calling you back right away, you should go with a business that seems to care about you and your property, even if they are just a little bit more money.

You can get a reputable property management company working for you to manage your investment property once all of this has been evaluated, based on the estimates that you will receive and the testimonials that you have found online. Additionally, if it is a large company, you can begin to invest more money, acquiring additional homes and even apartment complexes, allowing this business to manage them for you which will make your real estate investments completely hands-free, helping you to earn residual income without having to worry about rent, repairs, or evictions at all.

The Reasons You May Want To Conduct MLS Home Searches

search mls listings

It ‘s hard to argue that one of the most significant and substantial investment that a person makes in their lifetime is purchasing a home. From finding the perfect property to finalizing the deal, the entire process can make you feel as though you are going through a test or obstacle course.

Fortunately, working with a licensed and experienced realtor will help you navigate each step of the home buying process. However, there is another tool that you can utilize to find the right home for you and your family almost instantly.

Multiple Listing Service, also known as MLS documents, is public records that contain a lot of information that a prospective home buyer needs when you are ready to compare houses. You will have the ability to compare different features such as the materials used to build the foundation for the number of years the roof has been installed.

Although that much detail is often not necessary when you are conducting an initial search, scanning these listings can for relevant information can be the first step in finding the house of your dreams. Everyone has particular needs when they are in the market to purchase a new home, and there are several things that you can learn from MLS listings.

mls-website

The Best Schools

If you are a parent, one of the factors that will ultimately decide where your family will live will be dependent on the schools in the area. MLS listings will include the school district that houses are located in, as well as particular schools for each grade level.

The listing allows parents plenty of time to inspect the area and verify the standards of the school system they are interested in enrolling their children.
Even home buyers who do not have children may want to consider school districts in the area. Houses are considered long-term investments and it wise to learn about the schools so you can make an informed decision.

Property Size

Another key factor for using MLS listings to find a house is the size of the actual house and the and around the house. Buyers want to make sure that they are getting the most property for their money.

Property size is often determined by two factors, the area of the floor and the number of rooms. The listings will also provide both the number of bedrooms and bathrooms.

Although having a lot of space can seem to be an advantage, it can pose challenges as well. Extra space means extra cleaning and maintenance of the additional square footage.

Specifics

Most of the time when home buyers use an MLS real estate search, they are looking for more specific features than the size of the house or the number of bathrooms. If you are looking for a home with a swimming pool, gas or wood fireplace, the information you are looking for will be in the MLS listings. You even have the option of searching for particular keywords.

Locating and buying the home you want can be a very stressful process. Fortunately, MLS listings can be a valuable tool to aid you in the home buying process.

Is Real Estate As An Investment A Good Idea?

real estate investing

The real estate market can offer excellent investment opportunities. However, not all transactions make good investments. If you are thinking about investing your savings into real estate properties, you need to have a plan and then pitch the property that fits it. An investment requires a totally different approach than the purchase of a house to live in. If you don’t have a strategy, there are big chances your purchase doesn’t bring you the expected return.

investment propertyWhen investing in real estate, you can’t afford to fall in love with a property. You have to stick to your plan, pitch on multiple properties and be happy with the one that brings you the biggest bang for the buck. As long as the numbers are in your favor, you shouldn’t care which of the targeted properties you get. It’s way more interesting to find an extremely motivated seller, as this would allow you to negotiate in your favor. A property owner who needs some urgent cash is going to be better for you than someone who doesn’t really need the money. The second one is willing to wait until a buyer comes and offers him the good price. These sellers aren’t great for investments, so stay away from them. As a matter of fact, your criteria for including various properties on your shortlist should be connected to the potential of the area, the amenities and the attractiveness of the place. You may want to lease the property, so you have to maximize your chances to find a steady stream of tenants. If your apartment or house is going to be unoccupied for long periods of time, you aren’t going to make any money. Even more, you are going to have fixed expenses each month. This is not a good investment strategy, so be very careful when you choose an area to look for opportunities.

The other thing to keep in mind is that you can’t get rich fast with this kind of investments. Besides, there’s always a dose of risk in such transactions. You can never know when an area becomes less desirable, thus determining the real estate market to collapse. If this happens, you have to be prepared to wait until things come back to normal. If you panic and sell immediately, you may lose a lot of money. On the other hand, if you are willing to allow some time to pass, you may be able to recover your initial investment and maybe make a profit as well. Such things are more frequent than many people think, so you have to be aware of the risk you expose yourself to when you invest your savings in real estate properties.

In conclusion, investing in real estate is a great idea, but only if you do it the smart way. Treat it like a business and it is going to generate good profits. These are the basic rules you have to stick to. Besides, you need to have enough money, in order to be able to invest in something desirable and with a high market value.

Tips for Buying Distressed Properties

Any property whose owner has failed to pay mortgage for it is termed as a distressed property. Since the early 2000s, distressed properties have rapidly grown in the real estate market. These distressed properties are sold according to their market conditions. For anyone who is looking to buy a distressed property, here are some tips for buying distressed properties that may help you.

Buying Distressed Properties

1. Get Pre-Approved For A Mortgage.

Getting yourself pre-approved for a mortgage before you make an offer on a distressed property is vital among the tips for buying distressed properties. Note that your offer will only be approved if you prove that you are a highly dependable prospect.

When seeking approval for a mortgage, ensure you have details about the property and you are satisfied that your bid will impress your lenders. Properties that are extremely damaged should be avoided because they only cause extra costs which might require you to take a second loan or put up extra cash.

2. Find An Agent Experienced With Distressed Sales.

Considering the fact that distressed property sales have a lot of drawbacks and difficulties, you need to look for an experienced real estate agent to guide you through handling this issue. Make sure that the agent you pick on has dealt with distressed properties sales before so that you can be sure that he is well acquainted with what he is doing. Among the tips for buying distressed properties, finding an experienced agent is a must have on your list.

3. Be Prepared To Make Repairs.

Most people whose houses are reprocessed by lenders are often forced out of their property, so most of them are known to leave their properties with intentional damages. This may force you to do a thorough repair on the properties in case you become the new owner.

You might have to hire someone to do the work for you if you are afraid to do the work yourself. However, it is a good idea to involve a contractor to help you in this work for best results.

4. Have A Thorough Property Inspection.

Having a thorough inspection done on your property is also imperative among the tips for buying distressed properties especially when considering a foreclosure. Selling a distressed property is different from selling a typical home because the seller of a distressed property does not have to take responsibility for damages on the property during a transaction.

However, you being the buyer will have to take responsibilities for any required repairs as soon as you sign the sale contract. By involving professional property inspectors, you will be able to know how much money you will have to spend on repairing damages so that you will not miss an opportunity of getting financing from the bank due to high costs. Professional inspectors will also examine things like septic systems, pests and mold as well as giving advice.

5. Avoid Investing In Distressed Neighborhood.

Buying a distressed property in a good neighborhood can be a great deal for any potential home owner. One can spend a lot or less for a house which might be expensive for them and build equity as it grows in value. Ensuring that you do not invest in a distressed neighborhood is among the top tips for buying distressed properties because not all low-priced distressed houses are great deals. Ensure you do not purchase a property that is located in extremely depressed neighborhoods because it might cost you.
Getting yourself a distressed home can be a great deal because it comes with a pocket-friendly price. Consider the above-named tips for buying distressed properties before you make any deals to avoid losing your money.

References:
http://www.realtor.com/advice/find-distressed-properties/