Collins & Demac Real Estate



Posted by Collins & Demac Real Estate on 1/14/2016

Rates are low, prices are right, and now is a perfect time to think about investing in real estate. Many would-be investors think real estate is a way to quick riches. Rapid monetary returns are usually not the case. However, the rewards can be substantial if you are willing be patient, do the necessary homework, and make a few good decisions along the way. Before you start investing in real estate, here are a few things to consider: • Start small: Don't go large on your first investment. Take on a smaller investment first so you have the opportunity to make some mistakes that won't cost you large amounts of money. Investing is a learning process. • Don't overpay: Do your research on your potential investment. Do full a full property evaluation; research the location, have a home inspection, and look into any liens and owed taxes. Always conduct an in-depth property analysis before negotiating any terms. • Consider the margins: Paying the bills on an investment property is different than paying for your personal residence.  When you buy an income property to rent, you're calculating how the income (rent payments) will help pay the mortgage and operating costs. • Know your partners: Having a bad partner could be your biggest downfall. Try to team up with a more seasoned real estate investor to learn the ropes. It is also important to be comfortable with your partner. Like all other businesses, real estate investing, requires a well thought out plan if you want to succeed. Weigh all the risks involved in real estate investing and develop a plan on how you will manage and overcome them before you get started.  





Posted by Collins & Demac Real Estate on 1/7/2016

You may think that any home improvement is an investment but when it comes to updating your home some renovations can actually be a money pit? Here are some home updates that don't bring a return on investment and even some that might repel future buyers. The saying goes, "Kitchens and bathrooms sell homes". This is true but keep it simple when renovating. Keep clean lines, neutral decor, upgraded appliances are your best bet. Remember to consider your home and the neighborhood, don't put a master chef kitchen in a mid-level home. You will only end up losing money. A bathroom can easily be updated by giving it that hotel spa look. Use white or cream towel sets, a clean but non intrusive candle and some new knobs on the cabinets. Before you install all brand new carpeting some buyers are turned off by wall-to-wall carpeting. If you have pets this is especially true. Buyers who have allergies do not want to buy a home with wall-to-wall carpeting. Expensive wallpaper may be in but buyers prefer painted walls. Use clean and neutral colors. Adding a swimming pool will limit your buyer pool (pun intended). Pools attract a specific buyer but they do not add a monetary value to the home. Some buyers just don't want the added expense, danger or hassle of a pool. If you do install a pool, an inground pool is most preferred. Before do any home renovation consider how it would appeal to a larger population in the sale of your home.





Posted by Collins & Demac Real Estate on 12/3/2015

One of the trickiest parts of buying or selling a home is the negotiation process. Too often when our home is involved our emotions get in the way and the deal can go south quickly. Negotiating is an art. A real estate professional is trained in negotiating but you will need to prepare too. Here are some hints to help you navigate the home sale negotiation process: Do your homework know your home’s worth, understand the value of your home in the marketplace. Be realistic about what your home is worth. Much of the work you did to the home was a labor of love and may not have a monetary value. Be patient, negotiations can take time. Do not let emotions (greed, pride, anger, or prejudice) get in the way of negotiating the best deal. Think of your home as “the house”,” instead of “my home.” You have made the decision to move so try to think of the sale as a business transaction. Take all reasonable offers seriously. Don't let a good deal walk away over a few hundred dollars. Try to look at the deal from the opposite side of the table. This will help you try to see where the potential buyer is coming from. Most of all, have a positive attitude. Don't get caught up in the game of negotiating instead remember the goal is to sell your house for a fair price and move on to your next adventure.





Posted by Collins & Demac Real Estate on 8/21/2015

Are you looking to hire a real estate agent to sell your home? Here are some must ask questions of real estate agents before you sign on the dotted line. 1. Do you work full or part-time as a real estate agent? 2. How many homes have you sold in my area and what was the price range? 3. What is your average days on the market until a house goes under agreement? 4. How many sellers are you currently representing? 5. At what price do you think my house will sell in the current market? And why? 6. What is your advertising and marketing plan for my house? 7. Can I see a sample of your marketing? 8. What kind of communication schedule can I expect from you? 9. How long have you been a real estate agent and how much education have you received? Do you have any special designations? 10. Is your real estate license in good standing and have you ever been subject to a client complaint? 11. Why should I hire you over your competition? 12. Do you have a website? What kind of online presence do you have? Lastly, don't forget to ask for testimonials or references.





Posted by Collins & Demac Real Estate on 6/25/2015

Even if you think you have all the time in the world to sell your home, once you put the for sale sign in the yard you will start to feel antsy. If you want to sell your home quickly it’s important to have a strategy. Here are some tips and tricks for getting more buyers interested and selling your home quickly: 1. Lots of photos: The more photos the better. Image is everything and you want to make sure your home has a good one. Studies show that 10 or more pictures can help reduce your home’s days-on-market time by up to 42% and improve the selling price by as much as 3.8%. 2. Host an Open House: According to the National Association of Realtors, 45% of home buyers reported they used information from an open house in their home search. Open houses bring potential buyers into your home for a first hand view. 3. Staging: This can really help a home sell quickly. Statistics show staging can help a property sell 50% faster and can increase the selling price by 6.9%. Staging allows buyers to imagine their own life within the home. 4. Price it Right: Work with your real estate agent to price your home competitively within the current market. Use a Comparative Market Analysis or CMA to compare your home to others like it in your neighborhood. This will give you a value price range in which your home should sell.







Tags