Jun 12, 2014 | Real Estate Tips
Sometimes, when buying – or even thinking about buying real estate for investment purposes, you’re faced with the need to fix up the property.
The question then arises: Should I fix it up myself or hire it done? Unfortunately, no one can give you the right answer. However, there are a few questions that you can ask yourself to help decide the issue:
Do I Have The Time?
Time is an issue that many people forget about, but it should be one of the deciding factors. Some renovations, such as handles, hinges or kitchen hardware can take very little time to do. Others, like retiling a bathroom, can take hours, or even days to accomplish.
If you don’t have the time to do these things personally, you’ve already answered the question.
Do I Have The Money?
Obviously, money is as important a factor as time. Often, if you don’t have the time, you do have the money to hire someone. However, if you have neither the money nor the time, you may need to reassess whether you can really afford the real estate you’re thinking of buying.
You may want to continue looking to find something that needs fewer repairs or that you can get at a lower price.
Do I Have The Know-How?
Granted, there is a lot of do-it-yourself information out on the Internet. However, if you don’t have the necessary knowledge to understand what they’re saying, you’ll either have to research more, or hire someone.
Being knowledgeable on what you’re doing may not be so important when, say, you’re painting the living room, but it’s incredibly important if you need to rewire a room or want to knock down a wall.
The main key when deciding on what property to buy, what renovations need to be made and whether to do it yourself is simple: Be realistic. Be honest with yourself.
Can you really do this? Can you really afford it? Remember, if the answer is “no,” it could just mean “not right now.”
Don’t be afraid to wait until you have everything in place before picking your investment properties. If you’re careful with your time and money management, you may find yourself able to buy that dream real estate investment property.
Call your trusted real estate professional today and let them help you find the perfect real estate investment property.
Jun 11, 2014 | Investment Properties
Purchasing an investment property is one of the most important decisions that you’ll ever be a part of. As such, it’s a necessity to make your decisions with only the most careful of consideration.
Here are six tips that you need to heed in order to ensure that you don’t get fleeced.
Find The Right Property At The Right Price
Yes, this is a whole lot easier said than done. However, it’s not impossible. All it takes is some patience and research.
You have to determine what everything in your area is selling for in order to be able to spot a bargain! Further, you need to know that various property classes will outperform each other. For example, land and home units will appreciate differently.
Figure Out The Cash Flow
It’s always a good idea that you know how to maintain your mortgage repayment obligations over the long term. It’s recommended that you analyze the cost of servicing any loan only on an after-tax basis. By taking this approach, you have the power to calculate and put the cost into actual terms that make sense for you.
Look For A Good Property Manager
Finding a good property manager who is a professional in his or her field is vital. Your property manager’s job will be to make certain that everything is in order between you and any of your tenants. A good property manager can extract the best possible value for you from your property and help to keep your tenants in line as well.
Choose The Appropriate Type Of Mortgage
There are many options available for financing the investment property that you choose, so it’s best to get sound advice. Options such as a variable rate loan and a fixed rate loan are both popular choices, but your specific circumstances will dictate what’s most suitable for you. Consider that variable rates often end up being cheaper over time, yet fixed rates at the right time are ideal.
Take Equity From Another Property
Leverage the equity from your residence or another investment property. Doing this is actually an ideal way to purchase your investment property. Equity can be calculated by way of calculating any difference between what you owe on your mortgage and the overall value of your property.
Comprehend Both The Market And Dynamics When Buying
It’s best to analyze what other properties are available in the area when you’re looking at an investment property. It’s very advisable to actually talk to both local people and real estate agents in the neighborhood. They can give you hints on small, yet vital, things like which side of a street is considered more desirable.
These are the six tips to help make sure that you don’t ever get fleeced when buying an investment property. They can make the difference between purchasing a great property that has a high return on investment and purchasing a lemon.
Call your trusted Real Estate professional today for more information.
Jun 10, 2014 | Home Tips
These days, efficiency and productivity are the keys to life, which is why it’s no surprise that home automation is a bigger topic than ever before.
As more and more people become tech savvy and get used to working with handheld devices, home automation becomes a natural fit for your smartphone or other handheld device.
After all, it’s a true pleasure to be able to control nearly everything in your home from just one device! You have so many things to do each and every day that it could be too much of a hassle to do everything separately and to control everything independently.
Home automation solves that problem for you. Here are the three iPhone apps that will make home automation tasks much quicker and easier.
The Haiku Home Automation App For HAI
Sure, this app will cost you $50, but it’s well worth it in order to have everything controlled at the tips of your fingers. You can use this app from anywhere on the planet or simply while you’re plopped down on the couch… your choice entirely!
It incorporates HAI’s solid home automation controls with an amazing user interface experience to deliver convenience and efficiency to users. So far the app has received excellent ratings from users. Out of 112 ratings, it’s averaged a 4.5 out of 5 score on iTunes.
Try The Revolv Smart Home Automation Solution
This iOS app from Revolv Inc. allows you to unify and centrally control a slew of various, connected home devices. Examples include locks, smart lights, outlets, sensors, thermostats and even wireless music systems, just to name a few possibilities. The app taps into the iOS system to empower you to seamlessly and effortlessly complete a bunch of automated tasks.
This app lets you create several automated directives from geo-location, time and on-demand triggers and sensors. Such convenience and control is both practical and highly rewarding.
Finally: The Loxone App
The Loxone app allows you to control your residence from your iPhone, iPad or iPod Touch. The possibilities are endless because, with this app, you can regulate everything from your home’s blinds and heating to the music that’s playing in any given room. All you have to do is make a few taps on your iPhone’s screen, and you’re done!
This makes the Loxone app one of the most ideal and efficient home automation apps out there. It’s definitely a good idea to install this app on your iPhone today. You won’t regret it, and running the devices inside of your own home will be something you’ll look forward to, rather than something you dread.
Thanks to these home automation apps, you’re in good shape to feel in control of all of the devices in your home. Whether it’s the blinds, the heating or an entertainment device like your stereo, these apps have you covered so that you can proceed efficiently and productively.
Jun 9, 2014 | Market Outlook
Last week’s economic news was mixed. Construction spending grew, but fell below the expected level. CoreLogic reported that April home prices continued to rise, but did so at their slowest growth rate in more than a year. Employment reports for private sector and government jobs indicated fewer jobs, but the national unemployment rate was steady. Here are the details:
Construction Spending, Home Price Growth Slows
Construction spending reported by the Department of Commerce reached $953.5 billion annually, and increased by 0.20 percent month-to-month against expectations of an 0.80 percent increase and the March reading of 0.60 percent growth.
According to CoreLogic, the rate of home price growth slowed to 10.50 percent year-over-year in April as compared to the 11.10 year-over-year rate of increase in April 2013. Home prices increased by 2.10 percent over March; these gains in home prices were the slowest posted in more than a year, but there was good news.
No states posted a drop in home prices, and eight states posted new record highs for home prices.
CoreLogic said that although a short supply of available homes has driven home prices up, price gains lost momentum due to affordability; CoreLogic expects home prices to increase at a slower pace and projects that home price growth will reach a pace of 6.30 percent by April 2015.
Mortgage Rates Mixed
Freddie Mac reported that mortgage rates for fixed rate mortgages rose while the average rate for a 5/1 adjustable rate mortgage fell. The average rate for a 30-year fixed rate mortgage increased by two basis points to 4.14 percent; discount points fell to an average of 0.50 percent. The average rate for a 15-year fixed rate mortgage also increased by two basis points to 3.23 percent; discount points were unchanged at 0.50 percent. Rates for a 5/1 adjustable rate mortgage averaged 2.93 percent, a drop of three basis points. Average discount points rose from 0.30 to 0.40 percent.
Jobs, Unemployment Data Suggest Economic Strength
Labor markets impact consumer decisions to buy homes; several labor-related reports released last week indicated that the economy continued to gain strength as more jobs were added and fewer workers filed jobless claims.
ADP reported that 179,000 private-sector jobs were added in May as compared to 215,000 jobs added in April. The Bureau of Labor Statistics released its Non-farm Payrolls report for May; 217,000 jobs were added as compared to projections of 210,000 jobs added and 288,000 jobs added in April.
New weekly jobless claims were reported at 312,000 as compared to expectations of 311,000 new jobless claims and the previous week’s 304,000 new claims. The four-week rolling average of weekly jobless claims fell by 2250 new claims to 310,250; this was the lowest reading since June 2007, and was 10 percent lower than the reading for the same week in April 2013 and was 17 percent lower than for the same week in 2012.
Another sign of economic growth was reported last week. Continuing jobless claims dropped to a seasonally-adjusted annual rate of 2.60 million for the week ended May 24; this was the lowest reading reported since October 2007.
The national unemployment rate for May matched April’s reading of 6.30 percent, and was lower than projections of 6.40 percent for May. The Federal Open Market Committee of the Federal Reserve (FOMC) has repeatedly cited an unemployment rate of 6.50 percent as a benchmark indication of economic recovery; it appears likely that the Fed may continue its tapering of asset purchases as it winds down its quantitative easing program.
What’s Ahead
This week’s scheduled economic news includes Retail Sales, Retail Sales without vehicle sales, and the Producer Price Index. Freddie Mac mortgage rates and Weekly Jobless Claims will be released Thursday, and the University of Michigan will release its Consumer Sentiment Index on Friday.
Jun 6, 2014 | Real Estate
Growing a home garden creates beauty, oxygen and even food for our families to enjoy. If you’re looking to get more from your home garden, here are four easy ways to improve a green thumb.
A Good Foundation For Your Garden
Good soil is the foundation of a healthy garden. By using quality soil, you can give your garden the best start possible. Adding a variety of organic matter to soil will give plants a happy home to grow in.
Add two to three inches of organic matter to your garden bed at the beginning of each season. Compost, dried leaves, grass clipping and dry manure are all good organic materials to use in your garden.
Manures provides nitrogen, which is a great contributor to soil aeration and composting efforts. Being so far along in the decomposing process, the nutrients in manure are readily available for plants.
Fresh manure, however, is more likely to leach out of the soil into groundwater and streams (where the nutrients it provides can become pollutants).
Design Fundamentals To Achieve Harmony And Flow
Although landscaping your home garden is a matter of personal taste and preference, there are some fundamental principles for creating a good garden.
Balance and proportion establish the basic structure of a garden. Order is obtained through symmetry, repetition of plants, and colors or thoughtful contrast. This will create a garden space that is both balanced and proportioned.
Harmony and unity is achieved when different aspects of your garden work together as a whole. Strong focal points and a limited color palette can help with the overall look of your garden.
Prevent the eye from making sudden stops with good flow and transition in your garden. Gradual changes in height and color create the illusion of a larger space, and will make for a full and finished look in your garden.
Variety Is Important And Maintenance A Must
Have a good combination in your garden of annuals, perennials, shrubs, trees and food producing plants. Plants that require little maintenance and come back each year will take some of the pressure off when it comes to seasonal changes and garden preparation.
With more time to focus on bedding plants and vegetable gardens, you’ll yield a bigger reward for your gardening efforts. Water features and other structural focal points work in much the same way; they provide your outdoor space with added beauty and appeal that is easy to maintain throughout the year.
Don’t Be Bothered By Pests And Bugs
Although people have differing opinions on pests, at home a greener garden is always a healthier garden. Harsh pest control products can hurt wildlife and pollute groundwater.
You may be solving one problem, but using chemical pesticides contributes to another. There are many ways keep pests under control without chemical products.
With so many easy to make homemade pesticides to discover, gardeners can ditch the chemical alternative without sacrificing quality. There are also plants such as marigolds that can be incorporated into your garden that deter pests.
A garden is a labor of love that creates a welcoming outdoor space that your family can enjoy. Call your local real estate professional for more information on creating or finding your perfect home garden.
