REAL ESTATE TRUTHS
TRUTH: SOLAR MIGHT NOT ALWAYS BE A GOOD THING
Yes. Solar is very popular, but the viability for your current situation might need a bit more research. Installing solar can be expensive so thoroughly analyzing costs, installation, time frame, etc is good advice. Contact agent for more information.
TRUTH: CARPET DOES NOT SELL A PROPERTY
I know it sounds appealing… shag carpeting! I would love it, myself, but the truth is that solid flooring, preferably a wood/like product will go along away. For a consultation, please do not hesitate to reach out!
TRUTH: DON’T REMODEL FOR A SALE
It does sound like a great idea, but before you do anything, contact your agent. Instead of advising my clients to do a costly remodel, I prefer to find a cost-effective ways to highlight your property’s best traits.
TIPS TO HELP YOU ENJOY YOUR PROPERTY OR PREPARE FOR A SALE
TIP: SHOWER CURTAINS CAN HELP SET THE DAILY MOOD
OK, admit it. We have all had our shares of grungy dirty white shower curtains. I know they are affordable, but if you bring forth a few more dollars, brighten up your bathroom as it can help set your mood on those dragging mornings!
TIP: INSTALL A NEW BACK SPLASH
A cheery new back splash can add much needed life to a kitchen. This can reflect your personality from subway tile to rustic colors can be just the thing to brighten up your day!
TIP: EVERYONE LOVES CLEAN
Okay, most of us can admit that we do not want to clean. But, you and potential buyers will appreciate it!
TIP: AREA RUGS BRING IN WARMTH, COLOR AND TEXTURE
Throw rugs and area rugs are inexpensive ways to define a space with text and color.
TIP: LET THERE BE LIGHT
Change out old light bulbs as a great lighting can be key for enjoyment and resell! Consult with a lighting specialist to establish the best lighting for your home.
TIP: FRESH PAINT IS COOL
Buyers always appreciate clean paint! When you are choosing colors, please know that buyer’s will always appreciate classic white paint.
REAL ESTATE TERMS
TERM: WHAT IS DEPRECIATION?
Depreciation is a capital expense. It is the mechanism for recovering your cost in an income-producing property and must be taken over the expected life of the property. You can begin to depreciate rental property when it is ready and available for rent.
TERM: WHAT IS THE EARNEST MONEY DEPOSIT?
The “EMD,” is a good-faith deposit the buyer places into escrow account at the beginning of the transaction. It shows the buyer’s seriousness and is also at risk of being lost if the buyer breaches the contract.
TERM: WHAT IS A CONTINGENCY?
In real estate, this refers to a specific action or item in the contract that must happen for the contract to become legally binding.
TERM: WHAT IS A TRIPLE NET LEASE/NNN LEASE?
A lease in which a tenant, is responsible for real estate taxes, maintenance, and insurance.
TERM: WHAT IS FAIR MARKET VALUE?
The price at which a property would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, bankruptcy laws, state laws and by other regulatory bodies.
TERM: WHAT ARE COMPS/COMPARABLES?
Comps are used to determine the value of a home by comparing it to similar sold properties in the same neighborhood or in an area as close as possible to the house being valued.
ARTICLE: DEPRECIATION OF A RENTAL PROPERTY
Weighing options of single family vs multi family homes? Continue Reading @ The Balance
ARTICLE: WHATS GOING ON WITH THE HOUSING MARKET?
Home buyers and sellers are trying to make sense of a downturn that’s full of contradictions: Demand has seized up but supply is still low; prices are sliding but not plummeting; and no one can agree on what comes next Continue reading @ WSJ.com
ARTICLE: SD HOUSING MARKET NOT OUT OF STEAM –YET
Two years ago, the San Diego housing market hit a soft patch that likely did not register on the radars of most casual market observers, but it drew the attention of some housing data geeks. Continue reading @ inman.com
ARTICLE: FED RESERVE LIKELY TO DELIVER THREE-QUARTER POINT HIKE NOV. 2
Jerome Powell’s rate strategy: tough medicine now to keep high inflation from becoming chronic. Continue reading @ kiplinger.com
ARTICLE: SINGLE FAMILY VS MULTI FAMILY: PROS AND CONS
Weighing options of single family vs multi family homes? Continue Reading @ upnest.com
ARTICLE: TIPS FOR BUYING YOUR FIRST RENTAL PROPERTY
Thinking about purchasing an investment property? Purchasing rental real estate requires knowledge of leasing, mortgage loans, tenant and landlord relationships, and property management. Continue Reading @ investopedia.com