If you’re looking to invest in real estate, remember that it is unlike any other investment. This is primarily because in real estate investments, you own the responsibility to create a house worth selling for a higher market value. In order to successfully accomplish this, you must take certain steps.
Determine what type of property you’re looking for. Do you want to flip a house, or are you looking for property to build on? You don’t want to incur a debt, so decide what your abilities, knowledge, and budget allow. Research each mode of investments fully before making a decision.
One of the key steps involved in buying a new home is getting a home inspection. It’s an important part of the process because when done right, a good home inspection goes “underneath the hood” of your potential new home or investment to help determine if there are any repairs, minor or major, that need attention.
It’s important to take this step seriously and not just leave it up to the inspector to guide the process. Have a conversation with a couple home inspectors and review the following information with them:
BEFORE THE INSPECTION:
What does the inspection cover? Ask … Read More »
Top 7 Remodeling Projects
Whether you bought your home to live in or are going to rent it out, you want to prioritize how you spend any dollars to remodel your home. It’s always important to think of the impact your remodeling job will have on your resale value even if you have no plans today to sell. Eventually you will and you will be glad you thought about these factors:
Overall building a better kitchen, bath or bedroom and living by the mantra “bigger is better” for these rooms will give you the most return on your money. The … Read More »
Keeping your home safe whether you are living in it with your family or have it rented out is something we are all interested in. Here are some tips to keep in mind and educate your tenants about to improve your odds. Okay so you just bought a new 60 inch plasma TV? First rule of thumb, don’t leave the empty box curbside letting would be burglars know you’ve got some new toys. Break up the box and put it in a bag or better yet, take it to a dumpster yourself. Don’t leave ladders out that can easily be … Read More »
For the past two years, Miami has been setting the pace of South Florida’s real estate market. But now, Ft. Lauderdale is leading. Miami’s prices are going up with the strengthening market, and homebuyers are looking farther north for the best prices.
Over the past year, Ft. Lauderdale has seen a 20.7 percent increase in the average selling price of a condo and a 30.8 percent increase in the average selling price of a single-family home.
Professionals largely attribute Ft. Lauderdale’s success to foreigners. Not only is the current real estate market perfect for foreign homebuyers, but also the availability … Read More »
Despite the fall of South Florida’s real estate market, as of Summer 2012, we’re seeing signs of growth and activity and watching the market begin to heal.
In Miami-Dade County, the median sales price for single-family homes rose 14 percent from the first quarter of 2011 to the first quarter of 2012, while the mediate sales price for condominiums rose 38 percent, according to the Miami Association of Realtors and the local Multiple Listing Service systems. The total housing inventory in Miami-Dade County decreased more than 35 percent, a huge pointer to the hopeful future of South Florida’s real … Read More »
Mortgages in Fort Lauderdale and Miami-Dade can be unaffordable in the current South Florida real estate market. If you’re having trouble keeping up with your mortgage, a short sale is an avenue that could save you.
A short sale entails the bank allowing the homeowner to sell their house for less than their mortgage – in the past few years, this has become an increasingly viable option since the South Florida real estate market fell.
If you’re looking into a short sale, there are some key moves to keep in mind. Banks don’t approve every homeowner for a … Read More »
Brazilians tend to know what they like – and the next big thing? Miami. Brazilians are taking Miami by storm, using the real estate crisis and foreclosures to their advantage. This immigration influx began around 2008, when the real estate market was falling and South Florida, especially Miami and Ft. Lauderdale, was undergoing mass foreclosures. At the same time, Brazil’s real estate market had an upsurge in costs, so the depressed prices in the United States provided a haven.
Along with luxury homes, Brazilians love shopping and brand names. Miami’s South Beach is saturated with boutiques and high end shopping … Read More »
The fall of South Florida’s real estate market has deeply affected first-time homebuyers. Even though homes are becoming more affordable, banks are not lending the money these first-time homebuyers need.
Unfortunately, first-time homebuyers are necessary for a healthy real estate market. First-time homebuyers should account for 40 percent of national home sales, whereas this year they only accounted for one third. These buyers are often young and stimulate the economy when they buy and furnish homes. When they sell their “first home,” they usually buy a bigger property, further benefitting the real estate market.
First-time homebuyers are having … Read More »
Since Meridian Trust recently opened an office on the West Coast of Florida, we thought we’d highlight a new area of Florida’s Southwest real estate market investors may not be familiar with.
Real estate experts and economists believe recent figures point to rising prices and increased sales, for Tampa Bay’s housing market. They base their optimism on the following:
• The inventory of homes for sale has fallen to levels not seen for years. The lower the supply, the stronger the market. The area has less than a six-month supply of unsold homes, meaning it would take about six months … Read More »