Overcoming the Stresses of Buying Residential Real Estates

Jenny Wolfes: Economic instability has plagued several businesses, forcing companies to shut down or suffer major losses. But a surprising outcome of this negativity is the sudden rise of the once gloomy real estate sector. Although a portion of society greatly suffered from what had happened with the global financial system, a greater population was able to benefit from the abundance of foreclosures and short sales. With marked down residential real estate’s up for grabs, there were a lot more people willing to buy homes.

Overcoming the Stresses of Buying Residential Real Estates

Statistics reveal that the age of buyers is commonly around 32 and often, they belong to the median income bracket. This means most purchasers live at $57,200. Instinctively, they set aside approximately 15-30% of their earnings as monthly payments when considering buying a house. And although real estate agents are available to help them out, interested buyers usually use the internet to get needed residential real estate information. Studies actually confirm that 9 out of 10 people use the web to search for properties. And that they always address their concerns and questions to the website, in response to advertising.

According to the National Association of Realtors, buyers typically just spend 8 weeks in research before jumping in the decision of making a purchase. In this time span, they already collectively consider their need for a larger space, their affinity to their working place or school, or the transit, and above all, their aesthetic and financial preferences. But although two months seems like a fairly long time to spend making a decision, it actually runs out without the buyers noticing. And in the end, they are left with the predicament of narrowing their options and making a decision.

This is where mistakes usually come in. Panicked by the dragging process and the wasted time and energy, purchasers just hastily come to a conclusion on what they will buy. To avoid making confused and pressured choices, always question what you prioritize in the purchase. The secret to making satisfying residential real estate acquisitions is to view it from both a logical and emotional standpoint. Balance the needs and the wants. Owning a real estate property has huge benefits and consequences. So put everything first into perspective.

Most realtors would advise you to buy the property you feel most comfortable living and that you shouldn’t obsessively worry about the expenses. Yes, you should not compromise your budget. But if you stick with a mortgage plan that requires only that allotted 15-30% of your monthly wage for payment, you’ll already be on good grounds with buying a residential real estate property. If that’s impossible, then you can stick to securing a place that you find safe and completely satisfying to your taste and explore multiple payment options later. If you become too logical and practical about your purchase, you’ll eventually experience “buyer’s remorse”, as you are stuck with a viewless, cramped, unfit house. So much to say that one should really be ready to engage in a lifetime commitment with the residential real estate they buy. If not, at least they should consider staying married to it for a minimum of 6 years. Jenny Wolfes is a real restating expert who can help you.

Tips about Property Management Marketing

Property is one of the most lucrative assets in the Western world. If you run a property marketing company, you will have probably noticed that there is a lot of competition. In order to get ahead, you will need excellent property management marketing skills to help you to get to the front of the pack. Here are some tips for the best property management marketing. Jenny Wolfes has years of experience in property management.

Tips about Property Management Marketing

Know your target audience: Early on in the marketing process, you will need to identify your target audience and work out how you are going to target them. It is much harder to market your business successfully if you view “everyone” as your target demographic because it is very hard to find marketing strategies that will appeal to everyone. Think about whether your company is managing holiday homes, business locations, medical facilities or any of the other types of properties that are in use today, and then begin marketing with this in mind. This will make it a whole lot easier to attract the people that you want to attract.

Keep marketing: Try to do at least one marketing activity every single day, even if it is only something small. Do not rest on your laurels, just because you have recently completed a big marketing campaign. Remember that new potential clients are emerging all of the time, so it is important to make sure that your name is one of the first things that they come across when they consider property marketing.

Control your spending: It is all well and good to have elaborate ideas about marketing, but if you’re marketing outgoings exceed a certain level, your business will fail. Consider your budget for the year, and determine a percentage that you are willing and able to spend on marketing. You may be forced to rethink some of your plans when you calculate your budget, but this can ultimately lead to you coming up with some fantastically creative, original ideas.

Make use of the internet: The internet is a great place for one strand of your property management marketing strategy to play out. Using the internet is a great way to gain exposure to hundreds of thousands of people who you may not otherwise have access to. Given the number of people that you are able to target using this medium, it is also a relatively inexpensive type of property management marketing. It is also a very varied marketing medium because you can include social media marketing, marketing targeted at specific site users, viral marketing, and many other techniques.

If you are planning on using an online marketing strategy, it may be a good idea to get in contact with an online reputation management company, to help you to ensure that your online reputation remains positive, and to ensure that your online marketing strategies are being targeted as effectively and efficiently as possible. Jenny Wolfes is an experienced real estate expert having good property management knowledge.

Getting Started in the Residential Real Estate Investing Business

Jenny Wolfes: You should make yourself proficient with four profit centers for investing in residential real estate and you should make sure that your investment in residential real estate takes them into account.

1. Cash Flow – You must consider as to how much income a particular residential property brings you each month and what expenses you pay from it. It would seem easy to you in the start as you would just need to deduct the mortgage payment. However you may need to factor in things like expenses, repairs, maintenance, legal fees and vacancy and then all these things begins to add up.

Getting Started in the Residential Real Estate Investing Business

2. Appreciation – Seeing your property prices going up when you own it is understandably most profitable part about owning it. However as recently seen, the property prices can go down as well. This results in leverage through bank loans becoming a double edged sword. It increases your returns if you make purchase in an appreciating location, but it may pile up your losses if property price goes down there. When you buy a property you must plan to hold on to it for at least 5 years to weather these ups and downs which come in between.

3. Debt Payment –Every month you have to make mortgage payment to your bank and a small part of the loan gets reduced. If you have raised loan on interest basis then your monthly payments would be lower, however you won’t get any of the benefits of pay down of the loan. If you intend to hold on to your real estate for a longer duration and you have to pay a large interest then it is advisable to go for an accruing loan as it will reduce the balance of your investment loan and help in making it go away. In many cases it may be more attractive for you to refinance your property to increase cash flow in place of just disposing it.

4. Tax Benefits –Many individuals are exposed to Alternative Minimum Tax (AMT), those who have large number of properties and are investors and not professionals from real estate may see that they are debarred by some of the good tax breaks given by IRS. More badly, persons who just focus on short term deals in real estate like rehabs or flips get their earnings treated like an income earned.

Real Estate Market is one of the complex market and always subject to risks so you can take help of the expert. Jenny Wolfes is a knowledgeable, motivated and diligent Real Estate Professional that specializes in both commercial and residential real estate sales, property management, and leasing of retail, office, industrial, multifamily and senior housing properties.

Top Strategies for Effective Real Estate Advertising

Advertising is an essential part of any business be it selling goods and services or selling of lands. Real estate business is also something that can flourish a lot but only if you know the right advertising strategies. Some of the essential as well as effective advertising strategies are listed below:

Top Strategies for Effective Real Estate Advertising
  • According to Jenny Wolfes, one must use social media to advertise about his properties and deals because there is hardly anyone who doesn’t use social media.
  • Always keep an eye on what your competitors are doing so that chances of mistakes can be avoided and good things can be implied.
  • One should also put his focus on creating a business card that is crisp as well as informative.
  • Your website’s ‘Contact Us’ tab should be eye-catching and attractive.
  • Try to showcase the area you are selling in the best manner you can.
  • Other than this, you can hire a professional photographer because bad images can disinterest people in your property and vice versa.
  • You can also think of creating a virtual tour for your client.

As suggested by Jenny Wolfes, it is important to try offering everything that catches the client’s attention and fulfills his requirements.

Tips for Buying New Homes

Buying a new home is exciting, but it can also be a little scary. When you are at the store buying a new pair of pants or a shirt you check it out to make sure there are no rips, tears, or stains. You also go to the dressing room to make sure it fits and looks good on you. Well you need to do the same thing when buying a home. You need to look at the home thoroughly to see what condition it is in; however unlike clothing you can’t see everything.

Tips for Buying New Homes

Tip 1 – Make sure you get a home inspection done before purchasing a new home by a licensed professional like Jenny Wolfes who knows what to look for. They will check out the roof, foundation, plumbing, electrical, and the heating systems. There could be some hidden problems that will be quite costly, so it is best to know this ahead of time.

Tip 2 – Make sure the home is worth what you are paying for it? If you comparison shop for food or clothing then you know what I am talking about. There could be the same house 2 streets over in better shape at a lower price. So do some looking around. Also be sure to get an appraisal, so you will know exactly what the home is really worth.

If you are getting a mortgage, they will do an appraisal prior to giving you a loan.

Tip 3 – Check out the neighborhood. If you have a family you may not want to live in a place where there are a lot of young people who have loud parties. So if you drive the neighborhood on a weekday and a weekend evening you get a feel for what kind of neighbors you will have.

Tip 4 – Check on garbage pick up. In many cities you have to call a service to set up trash removal services and some of them you will have to pay in advance.

Tip 5 – Schools, it is good to know where the schools are located and if there is bus service.

Tip 6 – If you call the local utility company you can get a general idea of what your monthly costs will be. This is especially important if you are on a budget, you can also sign up for their monthly budget system so your bill will be the same every month.

Tip7 – Does your home purchase come with a warranty? Many sellers will take out a warranty prior to selling their home. This works like insurance, so if something does break; you won’t have to pay the whole bill.

Tip 8 – Homeowners insurance, this is a must have, so shop around to get the best deal and coverage. If your new neighborhood has any special problems such as flooding, make sure you are covered.

Tip 9 – Get a security system. Unfortunately there is no such thing as a crime free city. Bad stuff can happen anywhere and protecting your family’s safety is very important.

Tip 10 – When you know what day you want to move, set up your truck rental or moving company as early as possible. So everything will go smoothly.

For a smooth real estate deal you can hire the professional experts. Jenny Wolfes is a knowledgeable, motivated and diligent Real Estate Professional that specializes in both commercial and residential real estate sales, property management, and leasing of retail, office, industrial, multifamily and senior housing properties.