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3tobuy2tolist · 5 months ago

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The Role of Real Estate Agents in Florida's Growing Market

Florida’s real estate market has been on an upward trajectory for years, making it one of the most attractive regions for homebuyers, investors, and sellers alike. The state’s vibrant cities, stunning coastline, and favorable tax conditions have led to a surge in population and demand for housing. As the market grows, the role of real estate agents in Florida has become increasingly vital. They act as navigators in a competitive landscape, ensuring that buyers, sellers, and investors make informed decisions that align with their needs and the market’s dynamics. The website 3tobuy2tolist.com explores this vital role, helping clients connect with experienced real estate agents who can assist in navigating Florida’s dynamic real estate landscape.

Understanding Florida’s Real Estate Market

Florida’s real estate market is unique due to several factors. The state's year-round warm weather and scenic landscapes make it a desirable destination for retirees, vacation homebuyers, and investors. In recent years, cities like Miami, Orlando, and Tampa have seen an influx of new residents from other states, especially during the pandemic, as people sought more space, better weather, and a lower cost of living.

In addition to population growth, Florida offers significant tax advantages for residents and investors, such as no state income tax and favorable property tax laws. This has driven demand for both residential and commercial properties. Florida’s real estate market also caters to a diverse range of properties, from high-end beachfront homes to affordable suburban developments, and from bustling city condos to vacation rental properties.

In such a growing and multifaceted market, real estate agents play an essential role in helping buyers and sellers navigate the complexities of transactions.

The Role of Real Estate Agents in Buyer Representation

For buyers, especially those moving to Florida from out of state, the services of a real estate agent are invaluable. Florida’s market can be overwhelming, with wide variations in pricing, property types, and neighborhood characteristics. Agents offer local expertise that goes beyond what can be found online. Here’s how real estate agents help buyers:

1. Neighborhood Expertise

A real estate agent with local knowledge provides critical insights into the various neighborhoods in Florida. Whether it's a family-friendly suburb near Orlando, a luxury condo in Miami, or a waterfront property on the Gulf Coast, agents know the local market trends, school districts, crime rates, and other factors that impact property values. This expertise allows them to match buyers with homes that suit their lifestyle and budget.

2. Access to Listings

Real estate agents have access to the Multiple Listing Service (MLS), which gives them up-to-date information on available properties. This access ensures that buyers see the latest homes on the market before they are widely advertised. In a competitive market like Florida’s, this advantage can make the difference between securing a dream home and missing out.

3. Negotiation Skills

In a growing market with high demand, negotiation becomes crucial. Real estate agents act as skilled negotiators who can advocate for their clients to get the best possible deal. Whether it's negotiating the price, securing seller concessions, or managing the complexities of closing costs, an agent’s negotiation skills are invaluable.

4. Navigating Legal and Financial Complexities

Florida’s real estate market is subject to specific laws, regulations, and procedures. For instance, closing costs, title insurance, and home inspection requirements can vary. Agents guide buyers through these complexities, ensuring that all legal requirements are met and that the process is smooth. They also work closely with mortgage brokers and other professionals to help buyers secure financing.

The Role of Real Estate Agents in Seller Representation

For sellers, real estate agents are equally critical in navigating Florida’s competitive market. The demand for housing often leads to bidding wars, quick sales, and fluctuating prices. Here’s how agents help sellers maximize their property value:

1. Pricing Strategy

One of the most important roles a real estate agent plays for sellers is helping them price their home correctly. Overpricing can cause a property to sit on the market for too long, while underpricing can result in a seller losing out on potential profits. Agents use their knowledge of local market conditions, recent comparable sales, and market trends to recommend the best price for a home.

2. Marketing the Property

In a growing market, a strong marketing strategy is essential. Real estate agents utilize various marketing channels to ensure that a property reaches the right audience. This includes professional photography, virtual tours, staging, open houses, and online listings on platforms like 3tobuy2tolist.com, which connects buyers and sellers with experienced agents. The right marketing strategy can increase exposure, attract multiple offers, and help sellers secure a top-dollar sale.

3. Managing Offers and Bidding Wars

When demand outstrips supply, sellers often find themselves in the advantageous position of receiving multiple offers. However, managing these offers can be complex. A real estate agent helps sellers evaluate each offer, considering factors like financing contingencies, closing timelines, and the buyer’s seriousness. They guide sellers through the process, ensuring they choose the best offer and not just the highest one.

4. Legal Compliance and Transaction Management

Just as with buyers, the legal and procedural complexities of selling a home in Florida require careful attention. Agents ensure that sellers comply with all regulations, handle disclosures properly, and navigate the closing process without hiccups. They coordinate with title companies, inspectors, and other professionals to facilitate a smooth transaction.

The Role of Real Estate Agents in Investment Properties

Florida’s growing market has also attracted real estate investors looking to capitalize on the state’s rising home values, strong rental market, and tourism industry. Real estate agents specializing in investment properties offer invaluable guidance:

1. Market Analysis

Agents conduct detailed market analyses to help investors understand the potential return on investment (ROI) in different areas of Florida. They provide insights into rental demand, property appreciation rates, and local ordinances affecting short-term rentals, vacation homes, and long-term leases.

2. Identifying Investment Opportunities

Agents with investment expertise help clients identify properties that meet their financial goals, whether they are looking for rental income, long-term appreciation, or a fix-and-flip opportunity. These agents have a keen eye for undervalued properties or areas poised for growth.

3. Property Management Referrals

Many investors rely on real estate agents for recommendations on property management companies, especially for vacation rentals in high-traffic areas like Orlando and Miami. This ensures that the property is well-maintained and profitable even when the owner is out of state.

Adapting to Florida’s Market Trends

The real estate market in Florida is ever-evolving. Agents are on the front lines of these changes, adapting to new technologies, shifting buyer preferences, and economic factors that influence the market. Platforms like 3tobuy2tolist.com are part of this evolution, offering resources that connect buyers, sellers, and agents more effectively.

Real estate agents are also embracing virtual showings, remote closings, and online marketing strategies to accommodate out-of-state buyers and investors who may not be able to visit properties in person.

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stallionloansinc · 11 months ago

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Want to Extend Your Credit Line? Navigate Mortgage Refinancing Options Now

It has become extremely challenging to fit into the criteria of traditional banking lending plans nowadays. The growing market has only contributed to increasing the basic needs of a human being and quite often we spend beyond our limits just to keep up with the societal trends. In this process, we find ourselves in need of more credits to keep up with the ever-growing market expectations. But having a bunch of debts already doesn’t allow us to apply for another line of credit through the banking system. In such cases, the process of refinance mortgage system helps in streamlining the debts under a single umbrella. If you are facing the same problem of securing a loan from the traditional banking system, please keep reading to learn about refinancing a mortgage through private mortgage lenders Florida.

What does refinancing a mortgage mean?

Suppose you have a running debt that you secured for building a home for your family or setting up a commercial business. It has a certain rate of interest, fixed or variable, that decides the total repayable amount and its duration. Now, suddenly you require another money lending scheme to fulfill whatever your need is. In such cases, you can consider refinancing your mortgage to bring all the older debt and the potential new debt under a single umbrella. This way, you would be repaying the total mortgage through a single channel with extended benefits.

How to get refinancing of a mortgage done?

You can seek refinancing of a mortgage from several money lending options. Banks have their rigid systems to help you refinance the mortgage. To have a more flexible option for refinancing your mortgage, you need to contact highly experienced and seasoned experts through a private mortgage broker Florida firm. Research about such firms on the internet and explore their services to get an idea of how such firms work. Ask questions regarding every query that pops up in your head and get it cleared from them. The rightly experienced firms will provide you with suitable plans to fit your needs.

About Stallion Loans, Inc.:

At Stallion Loans, Inc., you are looked at as an enduring partner as compared to being viewed as a mere transactional opportunity by other firms and most traditional banks. They represent a wide range of reliable and industry-experienced private mortgage experts to ensure you the most suitable financing option. Also, learn about the latest down payment assistance programs Florida from the industry experts at Stallion Loans, Inc. while you’re consulting them.

For more information, visit https://www.stallionloans.com/.

Original Source: https://bit.ly/3TYMRZc

#mortgage lenders Florida

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alwaysaffordableland · 1 year ago

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How to Find the Right Property for Sale in Florida?

Do you want to acquire a piece of real estate in Florida? Whether you're looking for a vacation house, a retirement hideaway, or an investment opportunity, Florida is a popular destination for real estate investment. But, with so many alternatives, how do you select the appropriate property for sale in Florida? We will walk you through the process of choosing your dream home in Florida in this post, helping you make an informed decision.

Planning and Research

Before beginning the property hunt, it is critical to undertake extensive study and plan accordingly. Here are the important actions you must take:

Step 1: Establish Your Budget

Setting a reasonable budget is the first step in any property hunt. Consider your total financial condition, including your down payment and mortgage alternatives. Once you've established a budget, you may filter your search and focus on properties that are within your price range.

Step 2: Specify Your Needs

Following that, you must identify your property requirements and preferences. Do you want a single-family house, a condominium, or vacant land? Consider location, size, number of bedrooms and baths, amenities, and accessibility to schools, stores, and other amenities. To simplify your search, clearly specify your requirements.

Step 3: Select the Appropriate Location

Florida has a wide variety of locales, each with its own distinct beauty and advantages. Do you prefer Miami's colorful lifestyle? Or how about the calm beaches of the Gulf Coast? Investigate several locations of Florida, visit them if feasible, and evaluate their desirability based on your lifestyle, accessibility to work or schools, climate, and other significant things to you.

Looking for Real Estate

Now is the time to start looking for a property, keeping in mind your needs, preferences for location, and budget. Here are a few efficient methods for locating the ideal Florida property:

1. Listings and Websites for Real Estate

Make use of well-known real estate websites and internet listings to go through a variety of Florida properties. To limit your selections, refine your search using parameters like location, home type, and price range. You may also set up email notifications to receive updates whenever new properties that fit your criteria become available.

2. Local Realtors

Talking with neighborhood real estate brokers who focus on the Florida real estate industry might yield insightful information and give you access to exclusive listings. Their local knowledge and experience can help you save time and effort by streamlining your search. When you let them know what you need, they can provide you with solutions that are specifically designed for you.

3. Go to real estate fairs and open houses

Get a sense of the community and physically tour properties by going to open houses and property expos. You may have a deeper comprehension of the state, design, and surrounds of the property by taking a hands-on approach. Make the most of these occasions to network with industry experts and acquire information.

Read more: Discover Affordable Paradise: Cheap Land for Sale in Florida

4. Make Contact with the Neighborhood

Never undervalue the importance of networking. Make friends with the locals, sign up for social media groups or community forums, and ask those who already own property or reside in Florida for advice. Their recommendations and first-hand knowledge can provide insightful information and perhaps point you in the direction of hidden gem homes.

Summary

Planning ahead, doing a lot of research, and giving your needs great thought will help you find the ideal property for sale in Florida. You may confidently navigate the Florida real estate market and find the ideal property that matches your needs and surpasses your expectations by using the procedures described in this article. Cheers to your Sunshine State home search!

#property for sale #florida property for sale #property for sale in florida

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toprealestatebuzz · 2 years ago

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The Hottest Residential Stories This Week: Trending News

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#breaking news #realestatenews #residentialnews

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bluearrowlendingt · 2 years ago

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Exploring the Advantages of USDA Loans for Rural Homebuyers | Blue Arrow Lending

Introduction: Rural areas offer a unique charm and tranquility, and if you're considering buying a home in such an area, you should explore the benefits of USDA loans. These loans, offered by the United States Department of Agriculture (USDA), are specifically designed to assist rural homebuyers in achieving their homeownership dreams. In this blog post, we will delve into the advantages of USDA loans and how they can benefit individuals and families looking to buy homes in rural regions.

Low to No Down Payment Requirement: One of the most significant advantages of USDA loans is the low to no down payment requirement. Unlike conventional mortgages that often require a substantial upfront payment, USDA loans allow borrowers to finance up to 100% of the home's appraised value. This feature makes homeownership more accessible, especially for first-time buyers or those with limited savings.

Competitive Interest Rates: USDA loans offer competitive interest rates, often on par with or lower than other mortgage options. This can result in significant savings over the life of the loan, making USDA loans an attractive choice for homebuyers.

Flexible Credit Guidelines: Another advantage of USDA loans is the flexible credit guidelines they offer. While lenders still consider your credit history, USDA loans tend to be more forgiving compared to conventional loans. This flexibility allows individuals with slightly lower credit scores to qualify for financing, expanding homeownership opportunities for

a broader range of borrowers.

Supporting Rural Development: USDA loans play a crucial role in supporting rural development and revitalizing rural communities. By providing affordable financing options, these loans encourage homeownership in rural areas, which in turn contributes to the growth and stability of local economies. When you choose a USDA loan, you are not only investing in your own future but also in the development of the rural community you become a part of.

Property Eligibility: USDA loans have specific property eligibility criteria. The property must be located in a designated rural area as defined by the USDA. These areas are typically outside of urban centers and offer a more serene and picturesque living environment. If you have your sights set on a home in a rural area, exploring USDA loans can open up opportunities that align with your desired location.

In Conclusion: USDA loans provide a range of advantages for rural homebuyers. From the low to no down payment requirement and competitive interest rates to the flexible credit guidelines, these loans make homeownership more attainable for those seeking a rural lifestyle. If you're considering purchasing a home in a rural area, it's worth exploring USDA loan options.

When it comes to USDA loans, it's beneficial to work with experienced professionals who understand the intricacies of the program. Blue Arrow Lending, one of the most trusted USDA loan brokers in Colorado, Texas, and Florida, specializes in USDA loans. They have the expertise and resources to guide you through the loan process, helping you secure the financing you need to make your rural homeownership dreams a reality. Contact Blue Arrow Lending today to discuss your options and take a step closer to owning your ideal rural home.

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heide-international-llc-florida · 2 years ago

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Pro Tips for Choosing the Best Reverse Mortgage Broker in the USA

As a Reverse Mortgage broker in Florida, USA, understanding the intricacies of reverse mortgages is essential for helping clients make informed decisions about their financial future. In this post, we will help readers get familiar with the fundamentals of reverse mortgages, how to find a suitable broker in Florida, and the steps involved in getting a reverse mortgage in 2023. Also learn valuable tips for selecting a reliable reverse mortgage broker in Florida by knowing the eligibility criteria and benefits associated with reverse mortgage loans.

What is a Reverse Mortgage?

A reverse mortgage is a form of loan that allows elderly homeowners aged 62 or older to turn some of their home equity into money without selling the house or paying monthly installments.

The loan balance increases with interest accruing overtime on the borrowed amount. The homeowner can choose to receive funds as a lump sum payment, fixed monthly payments (tenure), line of credit, or any combination thereof.

Who Qualifies for a Reverse Mortgage?

Must be at least 62 years old.

Must own home outright or have significant equity built up.

Primary residence should be located in the USA.

Sufficient income/resources to cover ongoing expenses such as taxes.

Must attend a counseling session with an approved reverse mortgage counselor.

Benefits of a Reverse Mortgage

A reverse mortgage can offer several advantages to eligible homeowners, including:

Financial Flexibility: A reverse mortgage provides you with access to cash without having to sell your home or take on additional monthly payments. The proceeds from a reverse mortgage can be utilized for multiple reasons, like enhancing retirement income, taking care of healthcare costs or executing essential renovations to the home.

Tax-Free Proceeds: The funds received from a reverse mortgage are considered loan proceeds and not taxable income (source). No taxes need to be paid on the received funds, making this an attractive option.

No Monthly Payments Required: Unlike traditional mortgages where borrowers make monthly payments towards their principal balance and interest charges, there are no required monthly payments in a reverse mortgage until the loan becomes due.

Federally Insured Program: Most reverse mortgages are Home Equity Conversion Mortgages (HECM) insured by FHA. This government-backed insurance guarantees that both borrowers and lenders will be protected throughout the life of your loan (source).

Reverse mortgages can be a great way to supplement retirement income, but it’s important to do your research and find the right broker for you. When selecting a reverse mortgage broker in Florida, it is important to consider the options carefully.

What to Look for in a Reverse Mortgage Broker

Experience: A reputable reverse mortgage broker should have extensive experience with these types of loans. This ensures they can provide expert advice on all aspects of the process.

Licensing: Make sure your chosen broker is licensed by the Florida Office of Financial Regulation. This guarantees that they adhere to state regulations and industry standards.

Credibility: Check online reviews from previous clients or ask for references from friends or family members who have worked with them before. You want someone who has consistently provided excellent service throughout their career.

Affiliations: It’s beneficial if your prospective broker is affiliated with professional organizations such as the National Reverse Mortgage Lenders Association (NRMLA). These affiliations demonstrate commitment to ethical practices within their profession.

Steps Involved in Applying for a Reverse Mortgage

Evaluate your eligibility: Before starting the application process, ensure that both you and your property meet all eligibility requirements.

Counseling session: Attend a mandatory counseling session provided by an independent third-party counselor approved by HUD to discuss program details and alternatives.

Selecting a lender: Choose an experienced reverse mortgage broker who offers competitive rates and excellent customer service.

Filling out the application form: Complete all necessary paperwork provided by your chosen lender.

FHA appraisal:An FHA-approved appraiser assesses your home’s value to determine how much money can be borrowed against it.

Also Read: How to Maximize Reverse Mortgage?

Required Documentation and Fees Associated with Obtaining a Reverse Mortgage

To apply for a reverse mortgage in Florida, US, several documents must be submitted along with various fees. Here are some essential items needed during the application process:

A valid government-issued photo ID (driver’s license or passport)

Social Security card

Proof of homeownership (mortgage statement or deed)

Recent property tax bill and homeowner’s insurance policy

A list of all current debts and financial obligations

Tips for Choosing the Right Broker

When looking for a reverse mortgage broker in Florida, it’s important to consider their experience, licensing, credibility, and affiliations. To evaluate potential brokers, ask them about their experience with reverse mortgages, where they are licensed, and the types of products they offer. Take your time when choosing your financial advisor.

Conclusion

Reverse mortgages can be a great way to help you achieve financial freedom in Florida. To ensure the best outcome for your reverse mortgage in Florida, seek out an experienced broker who can provide guidance and advice on all aspects of the process. Finding an experienced professional who understands all aspects of obtaining a reverse mortgage in Florida is essential for success with this type of loan product. Make sure to research each option thoroughly before making any decisions so that you make the most informed decision possible when it comes to securing a reverse mortgage broker in Florida.

Let Heide International be your trusted source for all of your reverse mortgage needs in Florida. Our experienced team provides tailored solutions to meet the unique requirements of first-time homeowners, foreign nationals, and real estate investors.

#reverse mortgage company #reverse mortgage florida #reverse mortgage loans #reverse mortgage broker #reverse mortgage brokers near me #mortgage financing

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mikeanzivino · 2 years ago

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Finding Your Dream Home with Mike Anzivino: A Personalized Approach to Real Estate

Are you tired of endlessly scrolling through online listings and feeling overwhelmed by the process of finding your dream home? Look no further! Meet Mike Anzivino, a real estate agent who offers a personalized approach to helping you find the perfect property. With years of experience in the industry and an unwavering commitment to customer satisfaction, Mike is here to make your dreams a reality. Get ready to say goodbye to stress and hello to your forever home with Mike Anzivino.

Introduction to Mike Anzivino

Mike Anzivino is the Best Realtors in Fort Myers Beach. He has over 20 years of experience helping clients buy and sell homes in the area. Mike takes a personalized approach to real estate, working closely with his clients to help them find their dream home. He has a deep understanding of the local market and is an expert at negotiating deals.

Mike was born and raised in the Bay Area. He started his career in real estate after working as a mortgage broker for several years. He quickly rose to the top of his field, becoming one of the most successful agents in the area. Mike has helped hundreds of clients buy and sell homes in Fort Myers Beach and the surrounding communities.

If you're looking for a top-producing real estate agent who will take a personalized approach to finding your dream home, contact Mike Anzivino today.

Benefits of Working with Mike Anzivino as Your Realtor

If you're looking for a personalized approach to finding your dream home, working with Mike Anzivino is the right choice for you. Here are some of the benefits of working with Mike as your realtor:

1. You'll get personalized attention and service. Mike will take the time to get to know you and your specific needs, so that he can help you find the perfect home.

2. You'll benefit from Mike's extensive knowledge of the local real estate market. He knows all the ins and outs of the market, and can help you navigate it successfully.

3. You'll have an advocate on your side who is looking out for your best interests. Mike will work tirelessly to ensure that you find the home of your dreams at the best possible price.

4. You'll have peace of mind knowing that you're in good hands. With Mike, you can be confident that you're working with a professional who has your best interests at heart.

Tips and Tricks for a Successful Home Search

1. Start by Defining Your Non-Negotiables

When you're searching for a new home, it's important to start by defining your non-negotiables. These are the must-haves that you're not willing to compromise on. Once you know what they are, you can begin narrowing your search to homes that fit your criteria.

2. Get Pre-Approved for a Mortgage

The next step is to get pre-approved for a mortgage. This will give you a better idea of how much you can afford to spend on a new home. It's also a good idea to get pre-approved before beginning your search so that you know what price range to focus on.

3. Use a Real Estate Agent

If you're not sure where to start your search, or if you want help finding the perfect home, consider using a real estate agent. A good agent will be familiar with the area and can help you find homes that meet your specific needs and wants. They can also provide guidance and advice throughout the home buying process.

What Makes Fort Myers Beach an Ideal Location?

If you're looking for a place to call home in Southwest Florida, you can't go wrong with Fort Myers Beach. Located on Estero Island off the coast of Fort Myers, this beach community is world-renowned for its white sand beaches, turquoise waters, and lush tropical vegetation.

In addition to its natural beauty, Fort Myers Beach is also a great place to live because of its small-town feel and friendly people. There's always something to do here, whether you're enjoying the nightlife on The Strip or exploring the many shops and restaurants downtown. And with easy access to both Naples and Fort Myers, you'll never be far from all the amenities of city life.

Whether you're looking for a permanent home or a vacation getaway, Mike Anzivino can help you find the perfect property on Fort Myers Beach. With over 30 years of experience in the area, he knows all the ins and outs of real estate here and can help you find the perfect place to call home.

Conclusion

Mike Anzivino’s personalized approach to real estate has helped countless people find their dream home. By taking the time to get to know his clients and understand what they are looking for, he is able to help them identify potential properties that match their needs and wants. His commitment to providing exceptional customer service makes him an ideal choice for anyone considering buying a property in the area. If you need help finding your perfect home, contact Mike Anzivino today!

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plusfl · 4 years ago

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Private Home Sales

What is “Private Listing”, a “Pocket Listing”, or a “Whisper Listing”?

We are increasingly being asked “what is a Private Listing”, “what’s the benefit”, and “how do they work”. In South Florida there are a significant number of unique estate homes and ultra-luxury properties that would be better served sold and bought via a private listing, marketing and sale. There is tremendously large number of buyers that come to town and specifically ask us “what is off market that we can see” and home owners are asking “what can we do other than list our home in the MLS”.

Have you ever been to a fine restaurant, the host is handed the wine list then asks “do you have a private list?” The host knows that the Sommelier usually has a private stock of rare, unique, or ultra-expensive wines “in the back room” or something special from a wine distributor. Just as the Chef may have a special cut, is playing with a potential new menu item, or there’s a “whisper rumor” of “you must ask for the Chilean Sea Bass with the Lemon Tarragon Saffron Sauce, it’s not on the menu”.

There are a couple significant criticism of this strategy that needs to consider: That a private listing only benefits the agent and hurts the client because the agent receives the sell side and buy side commissions and that the lack of mass public advertising limits the number of prospective buyers. THIS IS NOT THE CASE. 1) THERE WILL BE A SIGNIFICANT PASS THROUGH COMMISSION OFFERED TO ANY BUYING AGENT, 2) IN MANY CASES THE PASS THROUGH COMMISSION WILL BE GREATER THAN THE COMMISSION THE SALES AGENT RECEIVES, 3) THE SALES AGENT UTILIZES ALL AVENUES TO SELL THE PROPERTY, INCLUDING THEIR OWN CLIENT NETWORK AND THEIR PROFESSIONAL AGENT NETWORK - THEY ARE PROFESSIONALS AT SELLING THE PROPERTY TO OTHER HIGHLY QUALIFIED AGENTS, 4) IN THE EVENT THE SALES AGENT ORIGINATES A BUYER - ALL PARTIES MUST AGREE IN WRITING, AND 5) THE PURPOSE OF A PRIVATE LISTING IS TO KEEP THE CASE OUT OF THE PUBLIC EYE (SEE CONFIDENTIALITY AND PRIVACY BELOW).

EXAMPLES:

The two most expensive U.S. home sales on record, the $117.5 million Woodside estate and billionaire Yuri Milner’s $100 million Los Altos Hills, Calif. mansion, were both sold via private marketing and sales. Many other significant homes have sold privately in recent years, at record breaking prices. Hedge fund billionaire and Sears Holdings Chief, Eddie Lampert, plunked down $38 million on a Miami estate on exclusive Indian Creek Island that hadn’t been listed for sale. In Naples Florida, two notable homes on the same street sold privately with in weeks of each other, each breaking the $40 million barrier. Another hedge fund billionaire John Paulson spent a combined$49 million on the Hala Ranch and an adjoining property in Aspen, Colo.; once listed for $135 million, the 56,000-square foot manse hadn’t publicly been on the sale block since the beginning of the economic downturn. Ken Griffin, another hedge fund billionaire, paid $15 million in the most expensive condo purchase in Chicago history, on a Park Tower penthouse that had been marketed privately. A massive oceanfront estate in Malibu, Calif. owned by finance billionaire Howard Marks fetched $75 million from an anonymous Russian couple in the city’s largest sale to date.

WHAT IS A PRIVATE LISTING?

Private listings (also known as “pocket” listings, “whisper” listings, “quiet” listings, and “rumor” listings) Property information about these off-market listings is passed through a private network of in-the-know realtors and select clients. An agent who keeps the listing in his or her “pocket” gets word out through a number of alternative means, including open house and private tours.

Private listings refer to homes being sold without being listed on the Multiple Listing Services (MLS). This strategy has been popular for years among celebrities and the wealthy seeking to shield their privacy. They increasingly are used by a broader segment as the demand for privacy increases, the buyer’s desire for a rare and unique opportunity, the uniqueness of homes are significant, and financial transactions become more complicated.

Essentially it's a private marketing and sales plan. Instead of a broad and public display of the homes information, agents restrict access to information about the house to their vetted buyer clients and their network of other worldwide affluent agents including real estate agents, lawyers, money managers, personal business managers, accountants, sports and celebrity agents, friends, and family. Such properties aren’t advertised to the public but pitched mostly by word-of-mouth among tight-knit networks of agents and their clients. Additionally, private listings generate an air of exclusivity.

WHAT’S THE BENEFIT?

1. Confidentiality

Your business is not everyone else’s business. Somehow the fact that a property is for sale, the asking price, the terms, and the ultimate sale has a way of finding the public domain. Many sellers and buyer do not wish that the public, family, friends, colleagues, country club members, or anyone else to know about their real estate activities or asset management. More than privacy, confidentiality serves folks whom wish to keep transactions, sale prices, terms, and financial profiles private and confidential.

Entering into a private listing agreement and conducting a private sale or purchase serves folks whom wish for confidentiality by not listing the property in the MLS. Offering price, sale price, and financial terms are not released to the public domain and the data is kept in the highest regards with the professional agents whom serve the clients. Identity, buyers wants, the property location, and other data may be withheld until all parties are qualified and vetted. Confidentiality and privacy is not only important to celebrities and sports figures but also to executives, medical professionals, heirs, estranged family situations, estranged spousal situations, politicians, foreign diplomats, foreign investors, institutions, hedge funds, and folks whom simply want to keep their business private and confidential. (See Privacy)

2. Privacy

In today’s technology world there are many websites devoted to tracking the whereabouts of business leaders, celebrities, sports figures, high net worth families, physicians, politicians, entrepreneurs, and anyone with a degree of success or intrigue attached to them. One can find addresses, images, home details, property values, tax information, financial profiles, net worth, compensation, and with the amount of data “leaked” or “hacked” additional private information seems to find its way into the public web.

Private listings protect seller’s privacy. Once a listing enters the MLS – and the accompanying national listing platforms like Realtor.com and Zillow.com – the details (which can include address) and images become the property of other platforms and essentially enter the public domain, meaning they can become easily shared by, for example, media outlets, gossip magazines, business publications, and sports publications. Sellers at the wealthiest end of the market spectrum often will list privately so they can avoid this unwanted forfeiture of their privacy.

3. Valuation - Unique, Rare, and High Valued Properties that require special consideration

Unique properties such as luxurious, waterfront, location, historical, new construction, remodeled, ornate, size, design, acreage, architecturally stunning, one of a kind, and owner profile – may not be easily valued based on typical factors. In many cases the construction or replacement cost may not be what the market would consider to be fair value.

Private listings should be accompanied with a due diligence packet including a valuation report that is backed by both facts and emotions. Such a valuation requires science and art in order to set seller expectations and to create a defendable presentation of price justification. Buyers or these types of properties will initially select a property based on emotions then conduct financial analysis and negotiations.

4. Sale Price

With a private transaction strategy the agreed upon sale price and terms is typically higher than a home that has been listed in the MLS for several years and has had several price reductions. The typical true carrying cost on luxury properties in 1.2% per month.

The sale price for unique properties is simply a “meeting of the minds”. Generally each party is financially secured and accomplished, has a key advisor acting as a sounding board, the buyer is typically a “cash buyer” with liquidity or borrowing power, neither party is needing to sell or buy a property, and once an agreement is made both sides are eager to close on the sale. These facts present an interesting set of challenges.

In a private transaction it is not uncommon for the broker to act as a mediator between the parties and arrange a meeting with all parties, a negotiation, which usually results in a successful agreement whereby everyone is pleased and honored.

5. Deal & Financial Structure (See Confidentiality & Privacy)

In any real estate transaction private financial data is exchanged. In larger priced real estate transactions there is a high percentage of cash transactions. Many buyers will borrow against other assets or securities as to not carry a mortgage on the property being acquired. The buyer may be an overseas investor, there may be some creative financing between the parties, there may institutions involved, or any number of other factors that require sophisticated financial understanding and counsel.

In a private transaction, by nature, both parties seem to have a higher tolerance for creativity and risk/reward. In a private setting price, terms and conditions can be settled and agreed upon quickly and in a professional manner. The data is not released to the public via the MLS as the MLS requires strict updates pertaining to seller identity, buyer identity, asking price, sale price, active status, contingent status, pending status, closing status and price, closing date, and disclose if transaction is a “cash” or “financed”.

6. Open House Traffic & Drive-Bys

Some sellers, particularly wealthy ones, don’t want to go through the hassle of listing properties and holding open houses, where dozens of people trample through, often with no real intent of buying. The fact of the matter is that 99.5% of the open house traffic only benefits the real estate agent as they use the luxury listing to capture sales leads. Additionally, open house traffic spends more time looking at photos, art, and other personal lifestyle insights that are in view at the home. When a home is listed in the MLS the address is disclosed and for a luxury home the owners will see increased auto and pedestrian traffic, typically from sight seers and the curious.

Private listing approach might make sense when the property’s “wow factor” (the price and the property itself) might draw more curious window-shoppers than actual serious buyers.

7. Well Qualified and Vetted Prospective Buyers

By nature of the private listing and the listing agent’s network, buyer prospects are highly qualified. Private sales agents, both on the sell side and buy side, will attest to the seriousness and capability of each prospect that receives significant data and tours the property. In some cases it may be acceptable for parties to enter into a Confidentiality Agreement before in-depth due diligence is conducted.

8. Test the Market

The MLS is a great tool for the majority of homes for-sale and really is beneficial for selling, but it’s geared toward a more generic search. Most luxurious, estate, and truly unique properties fall outside of the scope of the MLS. An estate that is privately listed for-sale may be public knowledge, but generally a qualified buying prospect is not searching the MLS, zillow.com, realtor.com for this type of estate.

Private listings are a great way to test a unique property’s marketability. The seller may want to measure the market demand as an early step in the overall marketing plan. Private listings let sellers test and evaluate the market when the agent introduces the property to select buyers and buyer’s agents and feedback, interest levels, and activity are measured. Then the seller and agent may make necessary adjustments to the marketing plan without having the property displayed in the public eye.

At the highest level of the “trophy home” market, luxury homes are fetching record breaking prices even without a bidding war. These multimillion-dollar homes are not bought and sold the way more modest homes are marketed. If a buyer can easily find a home’s value using the MLS (by looking at market comps), the seller will fare best listing on the open market.

9. Stigmatization – Negative

Private listings reduce the risk of a property becoming stigmatized if it is advertised publicly, if the property is listed for-sale for extended periods of time, if the property is listed, removed and re-lists, and the property has had multiple price adjustments up and down, which can all depress the value.

Private listing properties aren’t subject to a running count of the number of days it has been listed as it would in an MLS. An overpriced listing with a high “days on market” number will attract low offers. Stale listings look bad, pure and simple. Buyers don’t really know how long a private listing has been on the market, so the stigma of remaining unsold for great lengths of time doesn’t apply.

10. Stigmatization – Positive Private listing carry a certain stigma of the “wow” factor, exclusivity, the “rich & famous”, wanting what may not be available to others, luxurious, rare, and creates a sense of urgency to the buying prospect. These are difficult emotions to generate when a home is listed in the MLS, Zillow.com, realtor.com, luxury.com, and 100 other real estate websites. This is comparable to the “whisper rumor” of a hot stock before publically releasing year end numbers.

All of these facts listed above can be the secrets to selling and buying luxury and unique properties. Some or all of these may appeal to home owners and buyers but this approach should not be taken lightly and careful consideration must be given to clients’ needs and wants.

HOW DO THEY WORK?

For a Buyer

Find an agent whom specializes in these types of transaction in the area you are looking for. This agent is well connected with the business side of the seller’s network and activities not necessarily connected with the social side where there’s more hear-say, gossip, and rumors. Large and sophisticated transactions require a serious and professional relationship. The buyer should expect to be asked to sign an “Exclusive Buyers Representation Agreement”, which may need to be modified if the agent brings both sides together.

For the seller

The first step is for the seller to considering how serious they are about selling the property and what the property is worth to them. Then meet with an agent whom works with private transactions, knows the local market, knows ultra-luxury, and has referrals - to discuss the seller’s wants and needs. This should be a general discussion and explore the sense of a business relationship. Once the initial step is taken move into valuations, expectations, marketing scenarios, and agreement structure. The initial phase takes 1 – 4 weeks.

A marketing and sales plan is developed and agreed upon by the seller and the agent. This plan may include seller’s requests pertaining to privacy and qualifying buyers, premarketing activities, marketing, measurable and metrics, evaluation points, pivot points, expenses, and the desired sale time and price.

The agent and their team will prepare all necessary marketing and sales material and follow a strict flow and timeline. The marketing will commence and the seller should expect action, results, and quality communications.

When an offer is presented the agent will provide data, recommendations and negotiations, facilitate any meetings, obtain all necessary signatures, and have a team of professional real estate lawyers and title companies prepared to execute the agreement.

At Plus Realty we serve sellers and buyers of unique and luxury properties in South Florida. We are experts in the fields of Private Listings & Marketing, Traditional Listings, and Exclusive Buyer Representations. We have closed more private transactions than any other Brokerage in SW Florida. We bring over 50 years of experience in real estate, construction & remodel, business development, finance, venture, real estate, and private investing, start-up companies, venture funding, fortune 100 company partnerships, buying/selling auctions, and networking.

Consider us to serve you with your real estate wants and needs. Should you be interested in private sales, private purchases/inventory, or acquiring your dream S. Fla. property – please contact us for a private and confidential conversation. We hope you enjoy our letters and we look forward to working for you.

Plus Realty

Serving Clients Real Estate Needs in:

Sanibel & Captiva

Fort Myers, Bonita, & Estero

Naples

Miami – Ft. Lauderdale

Mike Stone

239-322-0044

[email protected]

www.plusfl.com

#Realtor #real estate #realty #Fort Myers #Sanibel #captiva #Cape Coral #estero #Bonita #Naples #Miami #ftlauderdale #homes for sale #home value #private sales #confidential #condo for sale

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3tobuy2tolist · 5 months ago

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How Realtors in Florida Handle Out-of-State Buyers

In today’s real estate market, Florida has become a prime destination for out-of-state buyers. With its beautiful beaches, warm climate, and vibrant lifestyle, many individuals and families are considering relocating to the Sunshine State. However, navigating the real estate market from afar can be challenging. This is where experienced Florida realtors come into play, offering their expertise to make the process seamless for out-of-state buyers.

Understanding the Needs of Out-of-State Buyers

The first step for Florida realtors is to understand the specific needs and preferences of their out-of-state clients. Many buyers might be looking for a vacation home, a retirement property, or even a primary residence. Realtors take the time to ask detailed questions about their clients' lifestyles, family needs, and long-term goals.

For instance, a family moving from New York may prioritize school districts and proximity to parks, while retirees from the Midwest might seek low-maintenance properties near golf courses or healthcare facilities. By grasping these nuances, realtors can curate a selection of properties that align with the clients' expectations.

Utilizing Technology for Virtual Tours

Given the distance, realtors employ technology to facilitate virtual tours of properties. This modern approach allows buyers to view homes without having to travel across the country. Realtors use high-quality video conferencing tools and platforms that enable clients to explore properties in real time.

Virtual tours can include live walkthroughs, drone footage, and 3D floor plans. This technology not only saves time but also helps buyers feel more connected to the properties they’re considering. Additionally, these virtual experiences allow buyers to make informed decisions and reduce the need for multiple trips to Florida.

Local Market Knowledge

Understanding local market dynamics is crucial for realtors working with out-of-state buyers. Florida’s real estate market can vary significantly from one area to another, with distinct trends, pricing, and neighborhoods. A knowledgeable realtor will provide insights into these differences, helping buyers to understand which areas might suit their needs best.

For example, a realtor familiar with the Tampa Bay area can explain the difference between the suburban charm of Clearwater and the bustling lifestyle of downtown Tampa. This expertise ensures that buyers are not only choosing a property they like but also investing in an area that aligns with their lifestyle aspirations.

Assisting with Financing and Legal Requirements

Financing a home purchase in Florida can differ from other states, and realtors are well-equipped to guide out-of-state buyers through this process. They can connect clients with local lenders who understand the Florida market and can offer tailored mortgage options.

Realtors also assist with understanding the legal requirements involved in purchasing property in Florida. For instance, they provide information on property taxes, homeowners’ association (HOA) regulations, and the importance of title insurance. By offering this support, realtors help mitigate any potential legal issues and ensure a smooth transaction process.

Building Relationships with Other Professionals

Realtors in Florida often have established networks with various professionals essential to the home-buying process. This includes mortgage brokers, inspectors, and closing attorneys. By leveraging these relationships, realtors can streamline the buying process for out-of-state clients.

For instance, if an out-of-state buyer needs a home inspection, their realtor can recommend reputable inspectors familiar with local standards and practices. This network also helps facilitate smooth communication between all parties involved, ensuring that nothing falls through the cracks during the transaction.

Managing Time Zone Differences

Another challenge faced by realtors working with out-of-state buyers is the time zone difference. Florida operates in the Eastern Time Zone, which can complicate scheduling meetings, showings, and negotiations. Realtors are adept at accommodating these differences, often offering flexible meeting times to ensure their clients feel supported throughout the buying process.

This adaptability is crucial for fostering a positive relationship between realtors and their clients, as it demonstrates a commitment to customer service and responsiveness.

Organizing In-Person Visits

While virtual tools are invaluable, many out-of-state buyers ultimately prefer to visit properties in person before making a final decision. Skilled realtors will help coordinate these visits to maximize their clients’ time in Florida. They often create a comprehensive itinerary, scheduling multiple property viewings and providing insights into the neighborhoods surrounding each property.

By organizing these visits thoughtfully, realtors can create an efficient and enjoyable experience, allowing buyers to focus on finding their dream home without feeling overwhelmed.

Offering Local Insights

Beyond the properties themselves, realtors provide valuable information about the local lifestyle. They can share insights into the best schools, restaurants, recreational activities, and cultural attractions in the area. This information is particularly important for out-of-state buyers who may not be familiar with Florida or its various communities.

Additionally, realtors can introduce clients to local services, such as moving companies and contractors, further easing the transition to their new home.

Closing the Deal

Once an out-of-state buyer has selected a property, realtors play a crucial role in navigating the closing process. They coordinate with all parties involved, ensuring that all paperwork is completed and deadlines are met. This can include negotiating offers, handling counteroffers, and addressing any contingencies that may arise.

Realtors also help out-of-state buyers understand what to expect at closing, including the associated costs and necessary documents. Their guidance during this phase ensures that clients feel informed and confident about their purchase.

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abstinenciacerebral · 5 years ago

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Reinventing Real Estate, Part 2: Online and Empowered Consumers Are Bringing Charge and Paying Less

Demanding consumers "Internet purchasers tend to be better informed on market conditions and more effective prepared to act on the home they want when they start working along with a realtor. Luckily for realtors, these changes don't specifically hurt, as long as they are able to adjust to the new relationship and recognise that the new-style buyers value speed and efficiency through guidance when finding a home. " - E-marketer, Word wide web Home Buyers Changing the House Rules Thanks to the Internet together with other technological innovations, more real estate information is freely available than in the past. As a result, consumers are demanding new choices, improved services, more quickly transactions and lower prices. According to a recent NAR investigation, the number of sellers stating that they didn't want to pay a fabulous sales commission fee rose from 46 percent throughout 2003 to 61 percent in 2004. In 2004, 23 percent of Florida home sellers opted selling independently without an agent, up from 14 percent through 2003 and nearly double the 14 percent countrywide average, according to Planet Realtor. And Web-enabled consumers are hard a high digital IQ when working with real estate professionals. In addition to being well-versed on their own industry-specific technology, real estate professionals now are expected to use laptops, mobile phones, digital cameras, personal digital assistants and world-wide positioning systems to keep pace with Internet buyers in addition to sellers. Downward pressure "If consumers are going to do the home-shopping online, they expect to save some money, just as they would just for using the self-service lane. That's why they are susceptible to online lower price brokers and the new affinity companies that are promoting smaller commissions if only the consumers will use their agents. All these business models promote the idea to consumers that they ought to possibly be paying less money in commissions. " Realty Times Columnist Blanche Evans Traditional real estate commissions, typically around 6 percent of a home's selling price, are facing downward tension from consumers and competition. Some consumers claim normal real estate commissions don't reflect: - Today's home deals. Years ago, when median-priced homes sold for $25, 000, real estate commissions were typically five percent, or $1, 250. Today, with South Florida median home rates around $300, 000, the cost of a six percent full-service real estate commission becomes $18, 000. Some brokers sometimes charge additional fees to cover administrative costs. When you consider who today's average homeowner sells a home every five for you to seven years, real estate commissions can dramatically impact your own savings and net worth. - Owner equity. Once selling properties, most homeowners calculate the cost of selling in the form of portion of sales price, though the commissions are paid out connected with owner equity. (Equity is the difference between the value of this property and amount of mortgages owed. ) Consider this occasion: You decide to sell a property for $250, 000 in which you hold 10 percent equity, or $25, 000. After paying an important six percent commission of $15, 000, you are placed with $10, 000 before any applicable closing expenditures. In this example, the $15, 000 commission is six to eight percent of the selling price, but 60 percent of the $25, 000 equity. - Services performed. Under today's fee structure, selling a $100, 000 house at half dozen percent typically costs $6, 000, while selling the $500, 000 house costs $30, 000. Does reselling the more expensive home really require five times alot more effort? Your cost is the same whether the agent gets to spend one hour or 100 hours marketing your home. This is one particular reason many real estate consumers find fee-for-service real estate therefore appealing. Developing alternatives "Consumers want what they want, after they want it and will gravitate to the most cost-effective source to put together it. Why? Because our "one-size-fits-all" approach to working with owners and buyers is archaic and won't allow users to access various segments of help they need in a timely fashion. Consumers. com Web start-ups are finding a receptive audience on real estate consumers and why for-sale-by-owners are burgeoning. " Julie Garton-Good, Author of "Real Estate a los angeles Carte: Selecting the Services You Need, Paying What There're Worth" Until recently, you have had few practical selections to the traditional full-service, full-commission real estate transaction with a agent. Most sellers paid a single commission fee for a 100 % range of real estate services, whether they needed them or not likely. Now traditional real estate agencies face the challenge of finding out new services that have value to today's sophisticated web based and empowered consumers. One result is an "unbundling" for traditional one-size-fits-all real estate services for consumers who want additional control over real estate transactions and their associated charges. If you're willing to take on some tasks traditionally performed through agents and brokers, you could receive lower transaction prices. You might benefit from the following emerging alternatives: Fee-for-services "Consumers really want assistance from real estate professionals, but don't want to pay for it comprising traditional commissions, " says a la Carte housing Pioneer Julie Garton-Good. Garton-Good has been preaching the fee-for-services gospel for more than 20 years. As the name implies, you possibly can choose which tasks you feel comfortable performing and retain qualified real estate professionals to do the rest. Many traditional real estate property brokerages are beginning to offer a more menu-based service prepare. For example , you may not mind listing your home and holding clear houses, but you may want assistance with contracts and closings. One-stop shopping In response to dwindling margins and the rising rates of technology and lead generation, some real estate companies want to combine traditional and Web-based services to provide consumers one single source for all their real estate needs. One-stop shopping websites generally provide or partner with lenders, insurers, heading companies, real estate attorneys and others to facilitate all aspects of buying and selling. In addition , some sites are adding home-improvement along with related services to stay in touch with consumers between buying or selling transactions. Web-based discounters Although many Web-based real estate companies flamed out in the dotcom era, scores of new providers have emerged to take their place. By offering precise services such as flat-fee MLS listings, buyer rebates and even AVM tools, these sites are appealing to independent individuals and sellers who prefer to take a more active place in transactions. In addition to listings, some sites also deliver how-to articles and advice for those who choose to go the software alone. Tradition + technology + turbulence = chances So , given the trends, changes and ongoing market place evolution, what can independent buyers, sellers and investors expect to have in this new era of real estate? o The Web along with other technologies will continue to evolve and transform the $1. 3 trillion real-estate industry. Technology will continue to slow up the time, expense and complexity of manual processes, not to mention increasingly sophisticated search and valuation tools will execute a more strategic role. o Free and low-cost properties resources will continue to be available and even multiply on the Web. In realty, knowledge truly is power. Consumers will try to use the power to gain more control of the real estate process and also subsequently expect to be compensated in the form of reduced and fee-for-service commissions. o The role of traditional real estate brokerages will evolve as Web-enabled consumers become more knowledgeable. The likely will trigger some restructuring and consolidation in traditional brokerages, but will also drive the development regarding innovative new practices targeting online and empowered consumers. Realty professionals will focus more on promoting their localized knowledge and industry expertise, while consumers will execute some buying and selling tasks on their own. o Traditional real estate fees and profitability levels will continue to face downward force from various sources. The future will be profitable for brokers that are able to extend their core expertise of neighborhood plus industry knowledge into flexible new consumer-centric offerings. to The traditional high-touch, full-service real estate agency is evolving, not even disappearing. Real estate professionals who provide exceptional service as well as value to their customers will always be in demand. You now can find further real estate knowledge, tools and resources on the Web than ever before, helping you to buy and sell with increased confidence. For real estate professionals, reinventing the industry means making hard decisions, changing processes and curbing new opportunities. But for consumers, reinvention in real estate is actually a winner, hands-down.

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alicefelldowntheh0le · 5 years ago

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Any L Steps - 6 Steps of Real Estate Shelling out

Real estate investing in Miami real estate is now becoming popular once more as there are many properties in foreclosure, short sale, bank or investment company reo's, and government foreclosures. With such an overwhelming products of homes available for sale a real estate investor must be qualified to determine which one to purchase. Investors must follow six simple steps in order to learn, understand and achieve Miami real estate investment achieving success. These are the six L steps to Miami real estate property investing: 1 . Location - Location, location, location remains the key of buying Miami real estate. Buying Miami real estate just because the price is low in a declining area is giant mistake that should be avoided. Look for homes in an excellent specific location like, good schools, economic stable and growing communities, near shopping centers and malls, near bus stops plus metro rails, near hospitals and restaurants. Sometimes it is far better pay a little more for a property in a good location compared with getting a bargain in a place where it is very hard selling or rent the asset. Location is often overlooked on purchasing real estate as many investor think they can overcome a terrible location if the price is low enough. Out of couple of homes that are exactly the same, the one in the best location should command a much higher sales price and rental source of income. Location is the number consideration when purchasing Miami Southern region Florida real estate. 2 . Long Term - Real estate investing is actually a long term proposition. Don't think you are going to be a millionaire over night. You will need years of hard work and dedication in order to succeed. Put any property at least one year before selling it. Growth capital gain taxes will be greatly reduced. Consider renting the home and property for at two or three years. The rental income developed will help you to properly repair and renovate the property. Many purchasers purchased properties in the middle of real estate boom with no money downward and no equity. These investors were thinking of flipping any homes fast and make a killing in the process. Many properties now in foreclosure are due to investors that were ensnared in the middle and now realize that real estate investing is very hard for you to time. Long term Miami real estate investing is the secret towards a successful real estate career. 3. Lease Option - Never ever rent a property with a lease option to buy. Either market or rent it straight out. A lease decision usually is a disaster for both buyers and owners. The tenant will demand a large discount of the hire to go towards the down payment and closing costs. The problem is who tenant will not buy the property at the end of the lease as well as landlord/seller will have wasted a lot of money in rebates given to the particular tenant/buyer. Demand a 20% or 30% deposit out of your tenant/buyer and a clause in the contract that if they default on the purchase they will lose the deposit. This technique will probably force the tenant/buyer to purchase the property or lose typically the deposit. The risk of losing the deposit will get rid of the tenant from taking advantage of the landlord by walking right out the contract after receiving a monthly rental discount. 4. Localized - Buy real estate close to where you live. Don't buy properties in another state or in another country. Keep real estate shelling out local. Buy in your own county and in your city. The more you're sure about the area where you are buying the better the decision will be. The particular investor should always be close to the investment property. The Ohio real estate investor should inspect the property often to determine any specific repair, roof and other problems. The landlord must examin the property every month when collecting the rent. Check for the amount of tenants actually living in the property, check for damages and break down of the property and overall condition of the place. Typically the investor/landlord will not be able to inspect and determine the condition of the house and property if it is located far away. Keeping real estate local is an crucial step in real estate investing. 5. Leverage - Most realty books and seminars tell you to use other people's money once purchasing real estate. This technique is not the best and buyers should certainly try to buy the property in cash if at all possible. Buying a house hold in cash will help you get a better deal and allow you to definitely negotiate from a position of strength. A cash patron will always have the upper hand in negotiating with banks, householders, and other sellers. Cash buyers will not suffer and go deep into foreclosure if the market turns and they are unable to sell or perhaps rent the house right away. Like Dave Ramsey always states "cash is king and debt is dumb". Selecting an investment property in cash is an excellent way to avoid New mexico real estate investment mistakes. 6. Learn - Research the property as well as learn everything about it before you buy. A mistake in Arkansas real estate investing can be very costly. Usually you make your hard earned dollar when you buy not when you sell. Buying the property around the wrong price the wrong place and at the wrong occasion could be detrimental. One mistake could wipe you through and put you out of business before you start. Ask things to the experts, real estate agents, appraisers, mortgage brokers, and other real estate buyers. Learn, research, educate yourself in all aspects of real estate investing prior to purchase the asset.

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phreemessen · 5 years ago

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Reinventing Real Estate, Part 2: Online and Empowered Consumers Are Bringing Charge and Paying Less

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koparatnewton-blog · 5 years ago

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Thinking of Buying a Condo Hotel? Here Are 20 Things You Need to Know!

1. What is a condo hotel or condotel?

Think of a condo hotel (also sometimes called a condotel or hotel condo) as buying a condominium, although one that is part of a four-star caliber hotel. Therefore, as an owner, when you are on vacation, you'll get the benefit of more four-star services and amenities than you'd get in a typical condominium.

2. What types of services and amenities are found in condo hotels?

If you can imagine the niceties you'd find in an upscale hotel, then you can picture a condo hotel. Among the features are often resort-style pools, full-service spas, state-of-the-art fitness centers, fine dining restaurants, concierge services and room service. have a peek at this web-site Kopar at Newton

In some locations, like Las Vegas, you'll find condo hotels with their own casinos, retail areas, and entertainment venues. In places like Orlando, you'll find condo hotels with their own water parks and convention facilities.

3. What is the difference between a condo hotel and a traditional condominium?

The big difference between a hotel and a condo hotel is that a hotel typically has one owner, either individual or corporate, but a condo hotel is sold off unit by unit. Therefore, a 300-room condo hotel could have as many as 300 unit owners.

4. Is it evident to hotel guests whether they're staying in a condo hotel or a traditional hotel?

A hotel guest will likely never know that the hotel has multiple owners because the property is operated just like a traditional hotel and often under the management of a well-known hotel company like Hilton, Hyatt, Starwood, Trump or W. Also, each of the individual condo hotel units will look identical in design and décor to every other, just as they would in a traditional hotel.

5. Who typically buys condo hotels?

They're primarily sold to people who want a vacation home but do not want to deal with the hassles typically associated with second home ownership such as maintaining the property or finding renters in the off season.

6. What is the demographic of the typical condo hotel buyer?

The spectrum of condo hotel buyers is pretty broad. There are families that want a second home in a vacation destination. There are baby boomers who are at or nearing retirement and want somewhere they can "winter." There are also plenty of investors who purchase a condo hotel unit with little intention of ever using it; they're in it for the potential appreciation of the real estate.

7. Can you live in a condo hotel?

Condo hotels are not typically offered as primary residences. In fact, many of them limit the unit owner's usage of the condo hotel unit (typically 30-60 days per year) because the unit is expected and needed in the hotel's nightly rental program where it can be offered to guests and generate revenue.

8. Who gets the money when your condo hotel is rented out?

The hotel management company splits the rental revenue with the individual condo hotel owner. While the exact percentages vary from property to property, the typical rental split is in the 50%-50% range.

9. Who finds hotel guests and then cleans and maintains the condo hotel units?

The hotel management company markets the property and books hotel guests. It also maintains the unit and ensures the smooth operation of all of the hotel's services and amenities.

10. What are the advantages / disadvantages of purchasing a condotel over purchasing typical rental properties?

Advantages include:

· Hassle-free ownership; no landlord issues

· Rental revenue to offset some or maybe all ownership expenses

· A fantastic vacation home available for use whenever you want

· A real estate investment at a time when other investments may seem less attractive

· Strong likelihood of appreciation

· Pride of ownership --"I own a piece of a Trump"

Disadvantages include:

· Annual cash flow could be equal to or less than annual ownership costs

· Pets are usually not welcome.

· An owner's condo hotel unit may be rented when the owner wants to it, so advance reservations are required to guarantee availability.

· The condo hotel unit is subject to the same dips in the market that affect all hotels in the competitive market set: hurricanes, terrorist threats, warm winters up north, price of gas, etc., all of which can affect a unit's occupancy rate and the amount of revenue it generates.

11. Are condo hotel units difficult to finance?

Not at all, but they do take 20% down typically, whereas condos can be purchased with less cash down. It's also important to make sure you use a mortgage broker who has had success in getting condo hotel financing deals done. Many banks still do not do them, but more and more are getting involved as condo hotels become more widely available.

12. How long have condo hotels been around and where are they located?

Condo hotels have been around for several decades, but the huge surge of four-star and five-star condo hotels that have been making their way across the country, started around year 2000 in the Miami area. The Miami-Fort Lauderdale area still has the most condo hotels, but areas like Orlando and Las Vegas are developing condo hotel properties at an even faster rate and will likely surpass South Florida soon. Other up-and-coming areas are places like the Bahamas, Panama, Dominican Republic, Mexico, Canada and Dubai.

13. How much do condo hotel units cost?

That's like asking how much a car costs. There are different quality condo hotels. Some require greater amounts of money than others, obviously.

There are inexpensive condo hotels out there for as little as $100,000. These are typically found in properties that have converted their use from an existing hotel. They are hotel room-sized, lack kitchen facilities, luxury franchises, and other first-class amenities.

Then there are the four-star or greater properties that may start in the $300,000 to $400,000 range, but can go all the way up to $800,000 just for a studio unit. One- and two-bedroom units cost substantially more than a studio. Of course, the studios do come fully furnished and finished, and will be significantly larger in size than a typical hotel room, and may attract guests because of its name like St. Regis, Ritz or W.

14. What are typical maintenance costs?

On average about $1.00 to $1.50 per sq. ft., but the range can exceed $2.00 sq. ft. in the most luxurious properties.

15. Do you buy condo hotel units after they have been built, or can you purchase condo hotels in pre-construction?

Unless you are in a hurry to get started vacationing or you need to complete a 1031 exchange, it's best to buy condo hotels in pre-construction as early as possible. That's when prices are lowest and unit selection is greatest. You will likely wait two years or longer before closing on and taking possession of your condo hotel unit, but you will have locked in the price and will get the benefit of maximum appreciation.

16. Is there anything else investors should want to know about condotels?

There is more to buying this type of real estate than the old phrase, "location, location, location." While most condo hotels are located in desirable resort and business area locations, what is most important is a good franchise with a strong reservation system.

Also, do not be fooled by an aggressive rental split. One way or the other, the developer of the property will have to staff, maintain and operate the hotel and its services like the restaurants, bars, spas and pools from his share of the proceeds. If he's giving you a very favorable share of the rental, he's also more likely to be charging you a higher monthly maintenance fee. Of course, this goes both ways. If the maintenance split that is offered is closer to 50-50, then your maintenance should be more reasonable too.

17. Any suggestions to investors in choosing which condo hotel to buy?

Get good advice. That means you don't want to rely only on the pitch provided by an onsite salesperson at a condo hotel. You want to talk with a broker who specializes in condo hotels and who knows and understands the entire condo hotel market, not just the facts pertaining to a single property. He or she will listen to your wants and needs and then offer recommendations as to which properties best match your requirements. You'll have an opportunity to comparison shop and consider the pros and cons of each available property.

A good broker can be the difference between your buying a condo hotel that will be problematic and not live up to your expectations or one that will provide you with years of great vacations, good annual revenue and a substantial profit when you sell.

18. Does it cost more to use a real estate broker to purchase a condo hotel than buying a unit on one's own?

No. With new condo hotel properties, the prices are always set by the developer and are exactly the same whether you buy directly from an onsite salesperson at the property or using a broker.

The broker's commission is always paid by the developer and is already built into the price regardless of whether an outside broker participates in the sale or not. Since a broker's representation is free to buyers, it does make sense to enlist their aid and get the benefit of their advice before making a purchase.

19. How can prospective buyers find a good condo hotel broker?

Ask friends for broker recommendations or search online for "condo hotel broker." Visit condo hotel broker websites and see if the information they provide seems comprehensive and unbiased. If their website seems to focus on selling homes or office space, and the condo hotel information appears to be an afterthought, steer clear. Your best bet is to work with a condo hotel broker who specializes.

20. How can buyers learn about new condo hotel properties coming on the market?

Condo hotel brokers can be good information sources as they often learn about properties prior to their release to the general public. Another option is for them to subscribe to a condo hotel newsletter such as the one we publish called Condo Hotel Property Alert.

#Kopar at Newton #Kopar

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larry-lynch-blog · 5 years ago

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The Ultimate Primer To New And Pre-Construction Real Estate

Are you thinking about purchasing or investing in new construction?

With a growing interest and a larger new construction market, more buyers are opting out of resale and turning to pre-construction.

But buying pre-construction is a lot different than purchasing a previously owned home. From delays and financing to choosing the right location and builder, there is a huge number of factors you need to be aware of and understand in order to make an informed decision.

In this article, we’ll cover 7 steps to consider before purchasing a new construction home.

1. Get a Real Estate Agent

First and foremost, whenever you purchase any property, you should always hire a qualified real estate professional. Just as the builders always have someone looking out for and protecting their interests, you need someone to protect yours.

And if you’re concerned about money, good news! As a buyer, it won’t cost you anything to use a realtor, since the builder is the one that pays the agent’s commission.

Your real estate agent will provide you a broad range of new construction information including whether purchasing a new construction home is right for you or whether you should go the resale route.

This realtor will also be able to give you contacts for qualified mortgage brokers to help you finance your home, as well as real estate lawyers that can review your contracts. Your real estate agent will help negotiate terms and upgrades with the builder for you and will be there to answer any questions you may have throughout the entire process.

Of course, you shouldn’t just hire ANY real estate agent. It should be one that has plenty of experience in new construction and has built strong relationships with builders in the area.

For more visits:Tyler Texas Real Estate

2. Choose a Builder With a Great Track Record

When purchasing new construction, (especially when it hasn’t been built yet) there’s always a level of risk involved. In essence, you’re making a purchase based on a promise. That’s why it’s essential that you choose a reputable builder with a strong track record of successful developments.

Construction experience is crucial when it comes to home development. It’s essential that you investigate how long the builder has been in the business, and how do their customers feel about their project.

Typically speaking, the longer a builder has been around, the better. That is not to say that new builders are not good. But longevity indicates that the builder has survived market downturns, and continues to do well.

Study past developments the builder has completed, and pay special attention to reviews from current owners, both positive and negative.

Next, take the time to actually go and see the properties they have built. If possible, talk to some of the owners in person. Let them know you are looking into purchasing a new construction home in the area and wanted to find out their experience with the builder.

Your real estate agent will also guide you in the right direction in terms of which builders have a good reputation and are known for quality and integrity in the business.

For more visits our sites:East Texas Real Estate

3. Study The Model Home

When you are purchasing new construction, most builders will have a model home. This model home will give you a great opportunity to see what the builder’s capabilities are in terms of craftsmanship.

As you’re taking the tour of the model home, make sure you ask lots of questions, and inquire about which features and finishes are standard and which ones are upgrades.

That’s because most developers will put all of the upgrades in a model home, which if you decide to add them to your home, they could bump up the listing price up by tens of thousands of dollars above the standard listing price.

For more visits:South Tyler Homes

4. Consider The Pros And Cons of New Construction

To some buyers, resale seems the obvious choice as they are not able to wait up to or more than a year for their home. But to others, having a custom-designed, brand new home make waiting that extra amount of time more than worth it.

But whether you should go the resale or new construction route would depend on your personal preferences and financial situation.

“Benefits of new construction include home and structural warranties, energy efficiency, and the latest building code,” says Mel Biondi, a top real estate agent in Naples Florida. “The drawback to new construction are most likely proximity to shopping, dining, entertainment, and work. In coastal areas like Naples, developers have to move further East from the coast to purchase plots of land for development. Buyers in these areas will have to weather the growing pains while commercial development catches up to serve the community needs.”

If you take the resale route, you’d be able to move in within a few months to a home with a lawn, gardens and finished amenities. The area will likely be developed as well in terms of sidewalks, parks, schools, restaurants, and shopping. And getting a mortgage to finance the home will be much easier as well. And best of all, you will be paying today’s market value, not a future projected value that some builders charge.

But with resale comes a lot more repairs and maintenance. There may be undiscovered issues with the home which didn’t show up during its evaluation, and you will have no warranty. Adding to that, any renovations or design changes you want to make to the home will be out of pocket.

But if you take the new construction route, you’ll be able to have a custom-designed, brand new home with next to no repairs or maintenance and warranty to cover you.

One of the biggest downsides is, of course, the amount of time it will take for it to be built. And even once the home is finished, don’t expect the neighborhood or surrounding areas to be developed either. There will likely be dirt roads, empty lots, noisy construction and few if any parks and trees.

Closing costs could also run you tens of thousands of dollars on the purchase price and you will be paying the projected appreciation on day of signing.

Weighing the pros and cons with your realtor will help you understand what is important to you and what choice makes the most sense for you.

For more visits:White House Homes for Sale

5. Get Your Finances In Order

One of the biggest differences between purchasing pre-construction vs resale is the way the properties are financed.

On a resale property, you may be able to put down as little as 1-3% as a down payment. But on pre-construction, you may need to have at least a 20% down payment.

That amount may seem large to put up front, but that down payment is typically broken up into smaller installments.

Usually, you’re expected to put down a few thousand dollars with the offer, then certain percentages at fixed times (such as 5% in 30 days, 5% in 90 days, 5% in 180 days), and finally a certain percentage at occupancy.

Deposits are usually higher at the beginning of the project since this is usually a requirement from the bank financing the project. But as the project nears completion, deposit structures become more negotiable, and you might be able to extend or even reduce your payments.

It seems obvious that regardless of purchasing a new home or a pre-existing one, you would make sure you have financing prior to looking. But if you have been pre-approved or financed for resale, it may not cover you for new construction.

Firstly, when you receive your pre-approval you are given a certain rate which likely will not last longer than 90 days. New construction can take more than a year to be built in which case your rate would no longer apply.

Secondly, your circumstances can change within the timeframe the home is being built. In a year you could lose your job, get relocated or separate from your partner in which you purchased the home with. If your circumstances change, so will your ability to close on the home, making it more risky for lenders to guarantee financing for such a substantial amount of time.

Thirdly, with new construction, you are likely making the deposits on the home throughout the year as opposed to already having the deposit saved. And you may only have to put 5% or 10% saved which is riskier for a bank to finance you.

Your realtor will be able to go over your finances with you to help you understand how much you are able to afford and how much you will need to save in order to make the deposits for your new construction home. They will also be able to refer mortgage brokers or guide you towards which banks are offering the most competitive rates.

6. Decide on the Location

When choosing your location, factors you might want to factor in are proximity to work, access to schools if you have children, strata fees, available amenities and access to surrounding amenities such as restaurants or parks.

And the location you pick will dictate the price point you are looking at. That’s because location is one of the biggest factors influencing price.

Look at any major metropolitan city anywhere in the world. The closer you are to the center of it all, the more difficult it gets to build new development, and thus the more expensive real estate gets. And as you venture out to the suburbs or ‘greater area’ of the city, prices tend to drop for comparative properties.

Factor this in when looking at pricing. You can get a lot more value for your money if you are willing to be a little further from the action.

Also, make sure you don’t overlook future developments in the area. You can get a lot of this information from your local city hall which will likely have a five-year plan for the surrounding area. This information will detail future schools, parks, stores, and transportation.

7. Negotiate On Upgrades, Not Price

The majority of builders are not typically willing to sell their units below their listing.

However, there’s a better chance they would be willing to negotiate on other things that will cost you money, such as upgrades, closing costs, furniture, appliances, etc.

You might also be able to negotiate on your deposit structure. Having to put down less down on the home will give you more time to save or give you the ability to finance a larger portion of the property.

You could save on closing costs (this is addressed in the hidden cost part of the article). And you can also ask for a cashback on closing, as opposed to having money taken off the purchase price.

If the developer agrees to any change in terms, make sure to have it in writing, usually done by an amendment to the contract, and signed by both you and builder.

Again, here is another place where your real estate agent will be instrumental. Your agents will know how to negotiate and where they can negotiate.

Thank you!

#realyestate #Tyler Texas Real Estate #East Texas Real Estate #South Tyler Homes #Tyler Homes for Sale #White House Homes for Sale #Flint Homes for Sale #Bullard Homes for Sale

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