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Janeese Jackson's Blog

By Janeese Jackson | Broker in Portland, OR
  • So, You're Thinking About Selling Your Investment Property??

    Posted Under: Home Selling in Portland, Curb Appeal in Portland, Investment Properties in Portland  |  November 7, 2013 11:13 AM  |  288 views  |  No comments

    Reel Big Fish - Sell Out

    Lots of investors are in the real estate market (for obvious reasons).  There's considerable cash liquidity out there and people looking for a place to shelter their money and/or leverage their money.  So, if you want to sell an investment property, there are several things to keep in mind.

    The first thing to keep in mind, is that the tenant is legally entitled to at least 24 hours notice before the property is shown to a prospective buyer. You must let them know you're coming!

    Can your new buyer require the renter to move out?  And, how much notice is required? If a tenant is on a month-to-month rental agreement, and has occupied the home less than one year, they are entitled to a minimum of 30 days notice. However, if they have lived in the home for more than 12 months, you must provide 60 days notice of the rental agreement termination. Tenants under a lease have the legal right to stay until the end of the lease, but you may often buy them out of the remaining time on the lease and negotiate an earlier move-out date.

    If a new owner buys the property as an investment and wishes to keep the same tenant(s) in place, they may simply take over the administration of the agreement.

    Now what about getting top dollar for your investment?  Of course, the first "line of defense" is keeping your rents up to market.  Also, investing in some small, cosmetic improvements like a fresh coat of paint ("magic Fairy dust") or power washing the driveway helps sell houses faster. However, many investment property owners don't think about the ROI (return on investment) of these upgrades and maintenance on their rental properties, and instead view cosmetic maintenance as an unnecessary expenditure. Curb appeal and the visual impact of a rental may be just as important in reducing vacancies, and attracting qualified tenants who will care for the property, which will pay off in the long run.

    Call me if you'd like to brainstorm what your money can buy!!

  • "Honey-Do" Season Approaches...Getting Your Home Ready to Sell!!

    Posted Under: Home Selling in Portland, Curb Appeal in Portland  |  February 21, 2013 11:53 AM  |  692 views  |  No comments

    "Honey Honey" from Mama Mia!

    If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it's time to look at it like a commodity and through the eyes of potential buyers. Do them now to help it sell sooner.

    Make repairs - it doesn't matter if it's been that way since you bought it. You need to fix it so that the buyer doesn't think that the rest of the house is about to fall apart.
    Not too personal - you may have bought your home to express yourself but if the buyer can't see themselves in the home for all of your things, it's going to take longer to sell than you want.
    Drive-up appeal - the old saying "you never get a second chance at a first impression" applies to your home too. They may never even get out of the car to come inside or may rush to assumptions prior to their visit.
    The nose knows - strong smells (whether they be from a beloved pet or your favorite spices) may not be the buyers favorite scent.
    Neutral colors, decor, etc. - these are not decorating tips you'll see in magazines but the truth is that bold colors and designs are difficult for most people to see beyond. They'll imagine their things better in neutral surroundings.
    Less looks like more - removing some of the non-essential things from your home will eliminate clutter and make the home feel larger. The same suggestion applies to cabinets and closets.
    A confused mind will not make a decision. Identify and eliminate items that could derail a potential sale. The preparation you make in the beginning will help the presentation to your buyers.
  • It's Always "Honey-Do" Season When You're Selling A Home!

    Posted Under: Home Selling in Portland, Curb Appeal in Portland, Property Q&A in Portland  |  March 9, 2012 2:15 PM  |  431 views  |  No comments

     
    Billy Joel - "Honesty"

    Contractor Stories...

     

    Similar to Diogenes’ search for an honest man, homeowners want someone to do quality repairs at a fair price.  The task appears reasonably easy but if you’ve ever tried to locate someone to fix something, you know just how difficult it is.  Why is that, I ask???  I think it goes back to supply and demand plus a basic personality type that might opt for that type of work.  If you need handyman, maintenance or renovation-type work completed, you need the contractor more than he/she may need you!

    Finding a list of companies from a phone book doesn’t mean they’ll be reasonable and reliable, it just means they have a phone and are willing to pay for an ad.  Searching on the Internet may direct you to a website that appears to be a local company but really is a marketing company who will sell the lead to a repairman or company who will pay a referral fee.

    There are consumer organizations like Angie’s list who rate repairmen and contractors but they usually require an annual membership fee to be able to access the information.  There are also services like Renovation Experts or Service Magicthat are registries for contractors but they may not be the most competitively priced.

    Your best recommendations are going to come from friends, family and neighbors you trust who have actually used the repairmen before and would use them again.  The problem here is that you might have to make multiple calls before you can find a friend who can recommend the type contractor you need.

    Repairs are a normal part of selling homes and as part of our job description, Realtors certainly come in contact with lots of contractors.  This experience leads us to understand who is reputable and reasonable as well as who to avoid (most of the time).  As part of a Real Estate Broker's commitment to helping you be a better homeowner from the time you buy your home until you sell it, we’re more than happy to make a recommendation of good repairmen or other professionals you might need.  Give me a call and I'll do my best!!

  • Portland Homeowners: Start Your Engines!

    Posted Under: Curb Appeal in Portland, Remodel & Renovate in Portland  |  May 31, 2011 11:16 AM  |  1,301 views  |  No comments

    Grateful Dead:  "Gentlemen, Start Your Engines"

    Portland Homeowners:  Start Your Engines...I mean, Projects!

    Summertime is almost here (or at least Portlanders can hope and dream) and many people will be starting home improvement projects. Some may call it "Honey-Do" season. Whether they're classified as maintenance, updating or energy saving, they should make homeownership more enjoyable and increase the value of your property!

    Remodeling magazine's 2010-11 Cost vs. Value Report suggests that some improvements are a better investment than others. Front door and garage door replacements are two of the easiest and return the greatest percentage of cost on resale.

    Kitchen and bathroom updates transform an older home and instantly give visitors and buyers a fresh impression. Countertops and appliances can be expensive but yield great results. Painting the cabinets and replacing the hardware is much less expensive to change the look and feel of the rooms.

    Energy efficiency enhancements can improve your enjoyment of the home and help save money on utility costs.

    • Replace older appliances - refrigerators, ceiling fans, water heaters, air-conditioners

    • Add insulation to keep your home cool in the summer and warm in the winter

    • Seal air leaks around doors and windows; holes in attics and crawl spaces with caulk, spray foam or weather stripping

    • Seal all heating and cooling system ducts

    Looking through the eyes of a buyer could show you what features most date your home and could order the priority that you tackle the projects, especially if you are planning to sell any time soon.

 
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