How To Find Real Estate Investment Properties In A Hot Market

Want to get into real estate investing but are afraid the market is too hot to get you a reasonably priced property? Well, there are some things you can do in order to find good, solid properties that aren’t over priced.

Have a Realtor help

Your best bet is to start by having a Realtor help you find good prospective properties. Be sure to ask if they are experienced in investment properties. If they do, they will understand your needs and they will be invaluable helping achieve your objectives.

Not only are they a good resource, but once you establish a good relationship with them they will be more likely to seek you out when a great property comes their way.

In fact, I work with a number of investors who have different goals and objectives. I let them know as soon as I find something that will fit their needs!

One resource can be foreclosure lists

It can be a bit hit or miss in a hot market, but foreclosures happen all over for varied reasons. Checklists for your area, which may require a subscription, can be useful and be sure to look for properties that haven’t been listed for long.

Look for properties in nicer neighborhoods. Once you find one or some, have your Realtor help you see the property. The caveat here is that they may not be kept up or may have been vandalized by a disgruntled owner or scavenge artists looking for anything of worth in a vacant home.

Finding a property in a hot market isn’t impossible. With some work you can start a profitable venture.

If you are thinking about working with a Realtor, give Tena D a call and we can get to know each other a little bit! 303-452-5853 

Are You Selling A “Special” House… How To Find Comps

You’re getting ready to sell your home but aren’t so sure how to price it. Not because you can’t find homes similar to yours to compare, but because your home has the most amazing mountain views or sits on an open space or has a really unique garage that will make a huge difference to your buyer.

How do you quantify that? How do you find comps for your special home?

So what makes your home special?

Are You Selling A “Special” House… How To Find CompsThose views, or maybe proximity to protected lands or even that a famous person lived there.

The list of special could be endless, but how do you find out how much it adds to your home’s value?

Typically finding comparable real estate sales involves finding homes that have similar square footage, bedrooms, baths and so on. Of course things like condition of the home versus condition of the comps is also taken into consideration.

Some things make it hard to find comps. Distance from one home to another in rural areas, special things like views and so on.

So how do you find a value for that?

You can stop and think about what it was worth to you when you purchased the home. Did it make you want to offer more for it than another similar home? Still not sure? Contact a Realtor in your area. A Realtor is more than aware of what makes your home special. They will also have an idea of what it adds to the value of your home.

Better yet, just list it without worrying about the special thing and then see what happens when homebuyers come calling. Your special thing will become what makes homebuyers offer more for your home than any another.

If you are in the Denver area and want help with pricing your “special” home, give Tena D a call today! (303) 452-5853

In This Day And Age Are Real Estate Agents Really Necessary?

With all of the online tools, websites and advice for home sellers and buyers, is it really necessary to hire a Realtor?

The short answer to that question is a resounding yes. The internet can only tell you so much and it certainly can’t show your home, take you to homes to see and In This Day And Age Are Real Estate Agents Really Necessary?facilitate settlement when you sell or buy your home.

As it’s been said, when the going gets tough, hire an expert… or something like that. But really, why would you undertake such a huge financial and legal undertaking without being educated in the ins and outs of such things?

A Realtor knows the local market

They know how to negotiate at all phases of the process. They know how to value a home beyond number of beds, baths and square footage. They understand most types of mortgages and home financing, or know someone who is reliable that can help you should you need that type of assistance.

Now let’s talk time

Do you have the time, over and above your day job, family responsibilities and so on, to stage your home, list it with MLS and other websites like Zillow or Realtor.com, take all the phone calls, schedule showings, read/understand/respond to offers, schedule inspections, schedule settlement and all the paperwork a settlement entails, do the walk-through and finally hand over the keys?

Do you have the time to search the internet for homes to see, call the listing agents, schedule showings, write up an offer, read over the inspection report, renegotiate repairs, review the title report and all of the settlement papers?

Experience Matters

One last thing to think about! In your lifetime you may buy and sell 5-10 houses (maybe a few less, maybe a few more). For some of us, that top end is a really slow YEAR!

Realtors spend all of our time negotiating, researching, talking on the phone and getting educated about real estate. The business of buying and selling homes is our life and when you hire a Realtor, you get some of that dedication and determination just for your home!

Selling Your Home – Be Sure To Pick A Salesman Not A Consultant!

Have you heard the idea that your Realtor needs to be your consultant? Not a good idea. You need your Realtor to be a salesperson. Consulting with you is one thing, but being in consulting mode when you really need a salesperson to represent your interests isn’t a good thing.

A good Realtor

Selling Your Home – Be Sure To Pick A Salesman Not A Consultant!A good Realtor needs to be a good salesperson. Not just to sell your home either. But let’s not get ahead of ourselves. Yes, they need to be ready to sell, hard sell if necessary, to find the best buyer and get them ready to buy.

From open houses when you have to sell the merits of your home to other agents, to showing your home to prospective buyers, they need to be able to handle questions, handle objections, make them need your home, not just want it.

Once they make an offer the salesperson needs to stay and handle the negotiations. What is a good offer to take and when you should push back for more.

As a buyer you need a strong salesperson as well

Your consultant will listen and then start looking for the best home for you, but then the salesperson must go to work.

They need to help you offer the best price and then push back when the counter offer is too high. They need to push for concessions and get the best deal for you.

After the contract is signed, the salesperson isn’t finished. He or she needs to make sure that they can sell the appraiser the bank sends that the home is worth at least what you offered, if not more. They need to sell the home inspector on the merits and if there is anything found, sell the seller’s agent on the need for more concessions because of the report.

So don’t look for a consultant in your Realtor, find a salesperson!

Why The Market Slowing Down Is Good For Denver Real Estate

The real estate market in Denver has slowed down, but that’s a good thing. It sounds counterproductive, but for buyers and sellers, it is a good thing and here’s why.

Puts homeownership within reach

Why The Market Slowing Down Is Good For Denver Real EstateFor buyers it means that homeownership is within reach again. In a slower market home prices are lower. That’s great for buyers, obviously.

What makes it good for sellers is that they don’t have to rush to market. Knowing that they aren’t “missing out” on a hot market means that they have time to get it right. Updates can be made, and they can take a week or month to get their home in the best shape ever.

For a seller that means the best price for their property.

More time and less worry

In a slower market there are fewer frantic buyers buying anything and everything just because it may not be there the next day. Not great for sellers, obviously. But for buyers it means they can take time to see more homes and find the right one, instead of feverishly buying SOMETHING because it may disappear from the market the next day. With that also goes the bidding wars. Having more time to decide without the worry about being outbid.

Better price negotiations

A slower market also gives a buyer more negotiation room for buyers and sellers. For sellers a slower market means less competition. That will help with price negotiations. For buyers it means you can also negotiate price, but with it you can negotiate in repairs, closing costs and other concessions.

Don’t give up your dreams of homeownership or selling your current home because of a slower market. It can be a great thing for you as a buyer or a seller. Call your Realtor today and ask how they can help you.