HomeRun Homes Rent to Own Homes Blog

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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label agent. Show all posts
Showing posts with label agent. Show all posts

October 18, 2013

Buying a Home? Read This First

Hi Folks,
   I hope all of you have been well, and thanks for all of your correspondence.

   The reason we are all meeting here together in this Blog is for one purpose; Real Estate. Albeit a broad industry composed of multiple niche subdivisions, it all comes down to buying and selling properties. Today, we will turn our attention to buying properties, and we'll focus on some essential things that homebuyers should be aware of before making a purchase.

   Let's step back for a moment and look at all of the moving parts here in the most common of scenarios: A buyer will utilize the services of a Real Estate agent to find a home, make an offer, and if the offer is accepted, the buyer will then utilize the services of a mortgage broker/banker to gain access to funds. Are you with me so far?

   From another angle, you are buying a house, and borrowing money (paying interest, points, etc). To be more specific, as John Maxfield of the Motley Fool wrote in a recent article, when you buy a home, you're making two purchases, and says that, "the loan itself may be the most significant piece of the transaction".

   Some other points that Maxfield touched upon was that you should look at your Real Estate agent as a partner, and additionally, that you need to keep resale in mind from the beginning. A good suggestion is to start doing your homework on agents and ask around. Check their reviews online, if you can do so locally. Speak with neighbors in the area you are looking to buy a home, and start gathering names and suggestions for you to investigate further. Once you have narrowed down your options and decided on an agent, start building a relationship with them. Only then will you be able to confidently discuss the eventual or possible re-sale of your home while looking to purchase it in the first place.

   Maxfield says that most of us "delude ourselves into thinking that we actually know something about real estate", but says that the truth is that "few of us have any idea what we're talking about". I think this statement is especially true for those that are won over by a home and fall in love before the inspection. Maxfield says that, "Homes are like people -- they all have problems", and that the "shock generally comes when prospective buyers get their inspection reports back". That's when some tough decisions need to be made and some negotiations have to take place (regarding who makes repairs, who pays for them, and so forth). Not the most exciting time of the homebuying process...take my word for it!

   Look, the truth is that the right home is out there for you. If you educate yourself, learn the market, know what you will be facing as far as home price, mortgage "price", possible resale value, and whatever else might be necessary in your state, you will prevail.

   Remember, if you want to take a softer approach to buying a home, the answer is quite simple; look into Rent to Own. You're certainly on the right website for that option !

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Have a Great Weekend, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes - Rent to Own Homes, since 2002
"Located at the Corner of Technology and Real Estate"
Rent to Own Homes and Real Estate Blog for HomeRun Homes: http://blogging.lease2buy.com

HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: #buyhome #realestate #agent #broker #mortgage #inspection #renttoown

November 4, 2011

Short Sale Caveats for Realtors

Hi Folks,
   Welcome to your weekend !

   The "Wild West". This conjures up thoughts of lawless times and renegades going from town to town and old fashioned "Shoot-em ups". When using the terms "Wild West" to describe Short Sales, this should indicate that dangers abound, and everyone, including Realtors, must be wary.

   Sarah Stelmok writes on Truliablog.com that listing a short sale is a "little like venturing into the wild, wild west", and says that there's only "a little order, lots of imposters, and laws are broken without much penalty."

   Stelmok outlines 3 primary things agents should know about Short Sales in her story, titled, "3 Things Agents Should Know About Short Sales":

1. "Market Value Matters" - Short sales sell for market value, says Stelmok, and adds that a bank will "typically agree to a short sale if the numbers make sense".

2. "Only Real Hardships Get the Help" - "Strategic default is never a good idea", Stelmok says, and adds that banks actually analyze hardships that are reported by a seller, and ones that are acceptable are financial/economic issues, "medical issues, divorce, disability, significant loss of income, death, unemployment, and relocation."

3. "Laws are local" - Since there are currently no national short sale laws, Stelmok says that it's important to "know your state’s foreclosure laws",

   As Stelmok summarizes, "This type of transaction is constantly evolving; however there are a few things that remain the same, and that every agent needs to know when working with short sales."

   What's your experience with Short Sales? Do you have any tips from the trenches (or should I say, from the Wild West?)?

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Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: #shortsales #foreclosure #realtor #strategicdefault #marketvalue #agent #laws #hardship

July 12, 2011

Canadian Housing Bubble Or An Exception To The Rule

Hi Folks,

   Happy Wednesday and glad to have you back.

   We live in a Global Economy that literally synchronizes over time, and the Economy of each country has an effect on the others. As a subset of the Economy of any given country, there exists the Housing/Real Estate Market. Today, I'd like to take a look at Canada, our Neighbors to the North. In future editions, we will look at other Countries as well.

   "Looking at Canada in general, I don't see any bubbles", says Colette Gerber, a Division Director for the Real Estate Board of Greater Vancouver. "With respect to Vancouver", says Gerber, "real estate in this city is a hugely hot commodity." She admits that many people believe Vancouver "is a bubble waiting to pop", but she disagrees because, "Vancouver is geographically constrained with mountains and water preventing the city from being able to spread out. Vancouver continually ranks as one of the most desirable and most livable cities in the world. With a finite amount of land available and such a high demand to live in Vancouver, prices in this city will always rise."

   In Ontario (includes the Capital of Ottawa and the largest city of Toronto), Gerber says that, "housing will always be in demand because the majority of corporate offices are headquartered in that province."

   In terms of the province of Alberta, which encompasses the major cities of Calgary and Edmonton, Gerber says the major cities in Alberta "have seen an increase in activity as more jobs are made available in the province's main industry, the oil fields.", however, she points out that this "isn't a bubble", but it is "normal economic activity."

   In a recent article in the Calgary Herald, titled, "Calgary housing prices expected to rise", by Mario Toneguzzi, he author cites a housing price survey (The Royal LePage House Price Survey and Market Survey Forecast) that says "Calgary's residential real estate market has experienced a "modest" year-over-year decline but prices are expected to rise in the second half of the year, and adds from this report that, "detached bungalows have witnessed the largest year-over-year price decreases in the resale market", followed by standard two storey homes, and then standard condominiums.

   In a quote from the story in the Calgary Herald, Ted Zaharko, broker and owner of Royal LePage Foothills, stated that "Real estate activity in the Calgary market is down slightly year-over-year (and) at the moment there is not a sense of urgency to purchase", but, "With low interest rates, a strong economy and a healthy energy sector, Calgary's real estate market should start to pick up in the latter half of the year". Further, as Toneguzzi write, "According to Royal LePage, the average year-over-year house price in Calgary is forecast to climb 3.8 per cent in 2011, while sales are expected to decrease two per cent." The President of CREB, Sano Stante, said in the same article that, "Improved job prospects, combined with an increase in the number of people moving to Calgary, will give lift to our housing market for the remainder of this year and into the next."

   So, what can we summarize about the Canadian Housing "Bubble" (or lack thereof)?

   "Definitely no bubble for Canada as a whole, just regular economic cycles of supply and demand", says Gerber. Additionally, per Kelvin Mangaroo, President of RateSupermarket.ca; "The Canadian Housing Market did not take as much of a hit as the US did", and adds that, "house prices in Canada are now back up to pre-recession levels after only two years.".

   Mangaroo cautions that with Canadians taking on more debt and interest rates still at record low levels, "when rates do increase (which they ultimately will) many homeowners will feel the pinch and the Canadian Housing Market is bound to dip."

   Are you a Canadian Homeowner, Canadian Real Estate Investor, Agent, or a Canadian Real Estate professional? We'd love to hear your thoughts on the topic.

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Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: #CanadaRealEstate #HousingBubble #Vancouver #Ontario #Toronto #Alberta #Calgary #Edmonton

December 31, 2010

Real Estate Resolutions for 2011

Good Morning,

   Well, we have made it through another year! The last post of the last month of the last day of the year. It seems so final, but only until the door opens on the New Year, and it is a new beginning.

   In keeping with the "new beginning" mode, we thought this would be a great time to present some resolutions from our peers, and here are what a few of them have told us about their resolutions:

   Gregg Goldsholl, an agent with Houlihan Lawrence brokerage in Larchmont, New York: Price every listing for today's market - not what the seller wants to get, Work smarter not harder. Make sure buyers have financing before going out, Continue to provide killer client service, Do the things that lead to success. There are no shortcuts.

   Kelsey Lane, a Realtor with Keller Williams Realty Silicon Valley: I am getting my green designation through the National Association of Realtors - that is only part of the resolution though. The other part is that I am going to educate sellers, as I am helping them get their homes ready to sell, that we should be using as many green remodeling techniques as possible (for example, no VOC paint, light fixtures that accommodate CFL's attractively, SmartStrand carpet made from corn, etc.)

   Leonard Baron, a San Diego State University Professor and Real Estate Investor: Buy some more properties in 2011 - I bought 8 in 2009/2010. Interest rates are very low, housing prices are very low, vacancy is very low, so investment returns on properties are very high. Anyone who wants to do real estate for the long term, and you should NEVER buy real estate for the short term, should be out there learning, understanding, and then buying property.

   A lot of my own personal and business resolutions are closely related to those listed above. What are your resolutions for the New Year? Do you have any that differ from what was listed in this article? Please share with us here, as we would love to know.

Wishing You a Happy, Healthy, and a Prosperous New Year !

Have a Great Weekend, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

August 11, 2010

Top 5 Things NOT TO DO When Selling a Home

Hi Everyone,

Hope you're having a great week thus far.

Quite often, we hear from people who have had their home on the market for 6+ months, and true, the market is bad, but when they send over the photos for their Ad, it sometimes can raise some Red Flags.

So, our lesson for today is, "Ask before doing !".

Before you paint a wall, do infrastructure, or anything else to a home that you are selling, ask an agent, an appraiser or someone who can give you advice.

This list of the Top 5 things NOT to do when selling a home falls into two categories, which are "Bad Decisions" and "Inept Craftsmanship", and the following items will criss-cross both of these categories:

1. Do Not Paint your walls Red, Green, or some other flamboyant Color. A fresh coat of white paint will freshen up the walls and give off that nice new paint smell.

2. Do Not Put up wallpaper or paneling, unless you are filming a Brady Bunch Sequel.

3. Do Not paint over wallpaper. Remove it first using one of the many products that are out there, but do it professionally or you will wind up with lumpy walls.

4. Do Not undertake any infrastructure jobs that you cannot complete. Once you open a wall to do wiring, it needs to be Spackled, and once again, you need to avoid "lumpy wall"

5. Do Not invite "Huge-bush-asaurus", in other words, do not plant trees and shrubs that block the front of your home and windows. People are leaning towards the more well-manicured look of homes/landscaping, so don't hide behind a tree!

If you follow these tips, you should be steps ahead of the game. If you have followed these rules and you still are sitting and waiting for a sale, re-examine your pricing, and don't rule out a creative idea to sell your home, such as Rent to Own.

Have a Great Day, and Happy Rent-to-Owning !