Thursday, July 21, 2011
Immunity on Foreclosures for Banks?? What??
The latest in the state attorneys general negotiations with major lenders is an attempt to get immunity for major banks over irregularities in handling foreclosures in light of evidence emerging that banks are continuing to file questionable documents[1]. Bank of America, Wells Fargo, Citigroup, JP Morgan Chase and Ally Financial could get immunity from civil lawsuits
Wednesday, July 13, 2011
10 Best Cities to purchase rental Property
From CNN MONEY:
10 best cities to buy a rental property
Tampa, Fla.
7 of 11
Tampa, Fla.
Average home price (2011): $152,700
Projected home price (2014): $147,200
Gross rent (2011): $832
Projected gross rent (2014): $933
As home to many of Florida's retirees, rents in Tampa have bounced up and down a little, but have remained basically flat the past three years.
But with the local labor market on the mend -- the unemployment rate fell a point over the 12 months ended in May and is down to 10.5% -- rents are expected to take off, increasing about 12% over the next three years, according to Local Market Monitor.
Right now, the biggest housing problem in the area is that there is too much of it, according to Winzer. Last year, home prices dropped about 10% due to an oversupply of investment properties built during the boom.
Yet, Winzer projects returns for rental property investors should still exceed the national average by about 2.4% a year.
10 best cities to buy a rental property
Tampa, Fla.
7 of 11
Tampa, Fla.
Average home price (2011): $152,700
Projected home price (2014): $147,200
Gross rent (2011): $832
Projected gross rent (2014): $933
As home to many of Florida's retirees, rents in Tampa have bounced up and down a little, but have remained basically flat the past three years.
But with the local labor market on the mend -- the unemployment rate fell a point over the 12 months ended in May and is down to 10.5% -- rents are expected to take off, increasing about 12% over the next three years, according to Local Market Monitor.
Right now, the biggest housing problem in the area is that there is too much of it, according to Winzer. Last year, home prices dropped about 10% due to an oversupply of investment properties built during the boom.
Yet, Winzer projects returns for rental property investors should still exceed the national average by about 2.4% a year.
Tuesday, June 28, 2011
Saturday, June 25, 2011
Friday, June 24, 2011
In a Complex Market Savvy Sellers Who Get Their Properties SOLD Hire a REALTOR to Net More Money…Says Who? The Washington Post and Satisfied Sellers
via Long Island Real Estate Blog by knetter on 6/23/11
During challenging economic times, people naturally look for ways to cut their expenses to make ends meet. Some people selling their houses in today’s market feel that one expense they should cut is the REALTOR®’s fee for service in order to net the highest amount possible in their real estate sale. On the surface, this decision seems to be logical. However, when put into practice, often the outcome is the complete opposite of the result desired by the Seller. Netter Real Estate takes pride in our collective experience and professionalism and that is the fundamental value that we bring our Seller Clients; we analyze the current market conditions, assess where the Seller’s property fits in the market and arrive at the appropriate price when it is introduced to the marketplace. BUT, as REALTORS®, perhaps you might feel that we have a tainted view on this subject. Fair enough. How about the opinion of a neutral party?
One of the world's most respected newspapers, The Washington Post, weighs in on the value of REALTORs for a successful home sale.
Recently, The Washington Post, one of the world’s most respected newspapers, published an article called “And the Broker Takes a Slice” in which they tell the story of a pair of homeowners and their experience selling their house. They were friends who pooled their resources to purchase a house together a few years ago because they couldn’t each buy on their own but wanted to enjoy the benefits of homeownership as soon as possible. Their circumstances changed. One friend got married, the other engaged so they decided to sell the house they owned together.
In 2009, they hired a REALTOR® and put their house on the market. They did not anticipate how long homes stay on the market these days. With so much inventory being offered at once, Buyers have many properties to choose from and often see many houses before making their final decision as to the one they purchase. In six months, their house didn’t sell and they decided to take the house off the market while they made some improvements to it that they felt would make it more attractive in the marketplace when they returned to it. When they did return to the market, these friends made the decision not to hire a REALTOR® in order to recoup the money they spent on those improvements to the property. Like many Sellers who choose to go it alone, they based their list price on what they heard a property near theirs sold for, $785,000.
The fee for service earned by a REALTOR® on a $785,000 property to the Seller appears large. However, the fee is not earned until the property is SOLD. Before that, the REALTOR®, once hired as the Listing Agent, undertakes an enormous amount of work during the marketing of the property, negotiating offers then finally guiding the transaction to the closing table. In today’s confusing, challenging and ever-changing market, getting a property sold is a long and often difficult task. Because of this, REALTORS® are less likely to accept a lower fee for service. Successful REALTORS® these days especially, earn their fees for service by meeting the challenges today’s market offers. As The Washington Post stated in the article, “There’s never been such a discrepancy between where buyers think they should be buying and where sellers think they should be selling. The REALTOR’S® job is to bring both sides together.”
When these friends put their home back on the market, they used a for-sale-by-owner company that charged a flat fee of $400 that allowed them access to their multiple listing service. They said “Very, very few people showed up.”
After another three months on the market without selling, these friends decided to hire a REALTOR® to finally get the job done. The Washington Post said “In retrospect, [the Sellers] concluded that the asking price — not the commission — was the issue they should have focused on from the start.” The REALTOR® they ultimately hired was familiar with the property these Sellers based their price upon. It turns out that the house had a far more impressive kitchen and the $785,000 sale price included money towards the buyer’s closing costs that the seller chose to absorb so their true net was a bit less than it appeared.
These Sellers were advised to put the home on the market for $749,000, an attractive price for the area that would draw qualified buyers to it. It worked. Within two weeks, three qualified offers were received, two of which were over the asking price. In March 2011, the property ultimately sold for $754,000 — $5,000 ABOVE the asking price. The Sellers happily paid the 5% fee for service — $37,700 — to their REALTOR® for a job well done, a job they could not do themselves.
Sometimes it costs money to make money in the end. Netter Real Estate knows this very well. Each time our staff of real estate professionals is hired to do the job of selling a homeowners property, money is invested in the quality, targeted marketing necessary to attract qualified buyers to it. Since 1949, Netter Real Estate has been earning our fee for service by bringing about successful real estate sales so our clients and customers dreams can become reality. Whether you are a Seller moving on to your next place or a purchaser moving into your new place, Netter Real Estate will be there for you.
Turn to Netter Real Estate for all your real estate needs. Our agents at Netter Real Estate will nurture your family as it blooms by finding the home of your dreams…and right now with reasonable prices and incredibly low interest rates, you won’t have to clean out your wallet to buy it!
Please check our website regularly for Netter Real Estate happenings and be sure to “like” the Netter Real Estate fan page on Facebook for up-to-the-minute information on what’s going on in our community.
via Long Island Real Estate Blog by knetter on 6/23/11
During challenging economic times, people naturally look for ways to cut their expenses to make ends meet. Some people selling their houses in today’s market feel that one expense they should cut is the REALTOR®’s fee for service in order to net the highest amount possible in their real estate sale. On the surface, this decision seems to be logical. However, when put into practice, often the outcome is the complete opposite of the result desired by the Seller. Netter Real Estate takes pride in our collective experience and professionalism and that is the fundamental value that we bring our Seller Clients; we analyze the current market conditions, assess where the Seller’s property fits in the market and arrive at the appropriate price when it is introduced to the marketplace. BUT, as REALTORS®, perhaps you might feel that we have a tainted view on this subject. Fair enough. How about the opinion of a neutral party?
One of the world's most respected newspapers, The Washington Post, weighs in on the value of REALTORs for a successful home sale.
Recently, The Washington Post, one of the world’s most respected newspapers, published an article called “And the Broker Takes a Slice” in which they tell the story of a pair of homeowners and their experience selling their house. They were friends who pooled their resources to purchase a house together a few years ago because they couldn’t each buy on their own but wanted to enjoy the benefits of homeownership as soon as possible. Their circumstances changed. One friend got married, the other engaged so they decided to sell the house they owned together.
In 2009, they hired a REALTOR® and put their house on the market. They did not anticipate how long homes stay on the market these days. With so much inventory being offered at once, Buyers have many properties to choose from and often see many houses before making their final decision as to the one they purchase. In six months, their house didn’t sell and they decided to take the house off the market while they made some improvements to it that they felt would make it more attractive in the marketplace when they returned to it. When they did return to the market, these friends made the decision not to hire a REALTOR® in order to recoup the money they spent on those improvements to the property. Like many Sellers who choose to go it alone, they based their list price on what they heard a property near theirs sold for, $785,000.
The fee for service earned by a REALTOR® on a $785,000 property to the Seller appears large. However, the fee is not earned until the property is SOLD. Before that, the REALTOR®, once hired as the Listing Agent, undertakes an enormous amount of work during the marketing of the property, negotiating offers then finally guiding the transaction to the closing table. In today’s confusing, challenging and ever-changing market, getting a property sold is a long and often difficult task. Because of this, REALTORS® are less likely to accept a lower fee for service. Successful REALTORS® these days especially, earn their fees for service by meeting the challenges today’s market offers. As The Washington Post stated in the article, “There’s never been such a discrepancy between where buyers think they should be buying and where sellers think they should be selling. The REALTOR’S® job is to bring both sides together.”
When these friends put their home back on the market, they used a for-sale-by-owner company that charged a flat fee of $400 that allowed them access to their multiple listing service. They said “Very, very few people showed up.”
After another three months on the market without selling, these friends decided to hire a REALTOR® to finally get the job done. The Washington Post said “In retrospect, [the Sellers] concluded that the asking price — not the commission — was the issue they should have focused on from the start.” The REALTOR® they ultimately hired was familiar with the property these Sellers based their price upon. It turns out that the house had a far more impressive kitchen and the $785,000 sale price included money towards the buyer’s closing costs that the seller chose to absorb so their true net was a bit less than it appeared.
These Sellers were advised to put the home on the market for $749,000, an attractive price for the area that would draw qualified buyers to it. It worked. Within two weeks, three qualified offers were received, two of which were over the asking price. In March 2011, the property ultimately sold for $754,000 — $5,000 ABOVE the asking price. The Sellers happily paid the 5% fee for service — $37,700 — to their REALTOR® for a job well done, a job they could not do themselves.
Sometimes it costs money to make money in the end. Netter Real Estate knows this very well. Each time our staff of real estate professionals is hired to do the job of selling a homeowners property, money is invested in the quality, targeted marketing necessary to attract qualified buyers to it. Since 1949, Netter Real Estate has been earning our fee for service by bringing about successful real estate sales so our clients and customers dreams can become reality. Whether you are a Seller moving on to your next place or a purchaser moving into your new place, Netter Real Estate will be there for you.
Turn to Netter Real Estate for all your real estate needs. Our agents at Netter Real Estate will nurture your family as it blooms by finding the home of your dreams…and right now with reasonable prices and incredibly low interest rates, you won’t have to clean out your wallet to buy it!
Please check our website regularly for Netter Real Estate happenings and be sure to “like” the Netter Real Estate fan page on Facebook for up-to-the-minute information on what’s going on in our community.
Wednesday, June 22, 2011
Mira Bay on Tampa Bay!
Poolside at the MiraBay Club
Select Saturdays from 12:30 – 3:30pm
June 25
July 9
July 23
August 6
August 20
Jazz with the Ron Delp Quartet
Beach Vibes with SuperFly Crew
Steel Drum Sounds with Radar McClean
Roots Rock with Cold Iron
World Music with Rob Irie
Select Saturdays from 12:30 – 3:30pm
June 25
July 9
July 23
August 6
August 20
Jazz with the Ron Delp Quartet
Beach Vibes with SuperFly Crew
Steel Drum Sounds with Radar McClean
Roots Rock with Cold Iron
World Music with Rob Irie
Tuesday, June 7, 2011
New Construction in Apollo Beach
I just assisted a young married couple who had been renting here in Apollo Beach put a “to be built” home under contract with KHovnanian. They were just not finding what they wanted in the resale homes on the market. It seems as if the best ones have been scooped up, and since the builders are offering such tremendous incentives they decided to check out what they had to offer.
We found a community with 70, 80, and 90 foot lots (they didn’t want their home too close to their neighbor’s and wanted a large backyard) and bottom line are getting a 2500 square foot 4 bedroom, 3 bath, 3 car garage home with some nice upgrades (tile, granite, etc), all appliances including washer and dryer for just a hair over $200,000. The builder is even paying ALL their closing costs AND have included one year of lawn AND maid service!! What a deal!
I would be more than happy to help you or someone you know find a similar deal, so call me today. If you don’t have the time to build, many builders have move-in ready inventory homes.
Call me before they’re gone! Bonnie Fagoh (813) 390-7606
We found a community with 70, 80, and 90 foot lots (they didn’t want their home too close to their neighbor’s and wanted a large backyard) and bottom line are getting a 2500 square foot 4 bedroom, 3 bath, 3 car garage home with some nice upgrades (tile, granite, etc), all appliances including washer and dryer for just a hair over $200,000. The builder is even paying ALL their closing costs AND have included one year of lawn AND maid service!! What a deal!
I would be more than happy to help you or someone you know find a similar deal, so call me today. If you don’t have the time to build, many builders have move-in ready inventory homes.
Call me before they’re gone! Bonnie Fagoh (813) 390-7606
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