Most articles regarding the real estate market state that the housing market has recovered. However, my 55 + community always has more homes for sale then the surrounding areas. This supply/demand ratio has been true since we moved here 9 years ago. Some of the reasons were the market down turn and most recently the Canadian dollar exchange rate. It seems supply is always higher then demand. Plus, we have 1 agent (who lives in the community) who lists 99% of the homes in the community. This agent, of course, uses his own listings as a comparable when suggesting sale prices I believe that is a major reason the prices in our community have stagnated.
It is frustrating when you cannot even get the price you paid for a new home 10 years ago. I don't think I'll ever buy another home in a 55+ community.... more
As a realtor in a largely second home market, where sellers often offer there homes turnkey furnished, most of my sellers include the furniture at zero value, for loan purposes and/or tax purposes. The reason for that is that they usually don't need the furniture since their primary home is elseswhere. It would cost them more time and trouble and even expenses to deal with selling the furniture or moving it out, so they just keep the furniture there at the second home for staging purposes and offer it for free, in order to make the sale of their property more attractive to prospective buyers.
That being said, some sellers like to have a set amount needed to purchase the furnishings and art outside of the purchase agreement, in a separate addendum, which can also be paid through escrow, because it lowers their tax on the transaction, and it can lessen the property taxes for the buyers due to the fact that property taxes are based on the sales price of the home.
In general, though, most sellers just throw in the furniture for free. That way buyers can move in and change out furniture as they wish when they move in.
Hope this helps!
Realtor for desert cities, from Palm Springs to Indio!... more
Your best bet is to google established real estate agencies in this area. They should be helpful in directing you to properties and cultural and other buyer information on the net. In addition, they may have in house information. it should be constructive to start a dialogue with one or more agencies. You can also look at agent bios on those sites.... more
That's a strange one, but I am aware of one such situation. Much would depend on the precise circumstances. Are you talking about trying to force the buyers' agent to accept lower-than-contract commission, or something more like asking the agent to put money into the deal to cover part of the repairs?... more
It really depends on what the hoa increase is for and how the hoa rates compare with others in your neighborhood. I see it become a problem with hoa fees are significantly higher in one complex than similar properties nearby.... more
House "flipping" is still very popular in the general Washington D.C. area.
The investors who buy and hold do so more because that's their strategy, their business model. The ones who are doing it have been doing it for years. Perhaps there's a bit more of a strategy to flip 5 or 6, then use the profits from the flip to buy a buy-and-hold for cash. They'll keep doing flips, but eventually the cash flow from the buy-and-holds will be sufficient for whatever their goals are.
I have worked with several investors that previously invested in CA but have discovered they can get more for their money with rental homes in Memphis, TN. You can buy nice homes for around $100k and rent for around $1250+ a month. There are several different ways you can structure this. Please give me a call or email for more information. Thanks!!
Fast Track Realty
I have a property listed in Toscana Country Club. My seller would be interested in carrying the loan. Please email me directly at DesertHomeSource@msn.com. I would like to get some additional information.... more
I just closed a transaction almost exactly like this in June 2013. Most likely the kids have no interest because they have nothing to gain. Certainly it's hard to expect anyone to be enthusiastic about paying their own money to file a Probate action in order to sell an asset that is worthless to them. My solution centered in overcoming those two obstacles and... doing so economically enough that we could enroll the heirs help at no cost to them. Technical but successful. On that transaction I was Co Listing Broker for another very successful real estate broker who was himself an heir to the estate. Happy to share more of my solution if you have any interest ... Please feel free to mail or call me.