Advantages of Multiple Real Estate Appraisals

real estate appraisal

Face it, while the majority of us like to pretend we know something about everything, it is difficult to stay abreast of personal finance let alone industries. So it is with real estate. Having been in the insurance industry for years and years I can assure you that things change…dramatically. Certain laws that were in place when I started were gone when I left. It is not surprising a society that tends to accept a single opinion with regard to their health will also do so with regard to a piece of property. So what are some reasons to get multiple appraisals on property?

First, you can compare the appraisals. In fact I would get three of them to have a “tie-breaker” and a good average. This gets one back “in the loop” so to speak, “up to speed”.


If you are selling a property it gives you a floor that you don’t want to drop below. For example, if the house is worth $85,000 by appraisal, then it may make sense to put it on the market at $90,000 but you also know just how low you can go with respect to negotiations.


Conversely, if you’re buying property, you know what the selling price with respect to worth will be and avoid spending too much.


Today there is a trend for senior citizens to essentially liquidate their own estate by what is called a reverse mortgage. This involves getting a chunk of money for your home to increase and extend income. Since this figure is based on property value and, since the amount is just a portion of that, it is imperative you have a proper value.


It goes without saying you should have the property insured both with homeowners and life insurance. It is an asset most of is cannot afford to lose.


When looking at property you own, it is important to know what the value is as far as estate impact should you die. It is important to know if, due to inflation the value has been put over a certain limit that might increase taxes to your estate.


Most cities charge property taxes. Not all cities make the right assessments. In order to challenge their position, it is imperative that you have your own information.


Sometimes it makes sense to use your property as collateral. You may or may not be able to get the amount you want, but it is imperative to monitor your own capability to repay and you do not want to put up more collateral than what you have borrowed.


You may decide to “gift” property to an heir getting the property out of your estate and getting value to a relative.


Finally, you may decide to invest stocks or bonds with some of the value of your property. It is important to know how much you have.


In addition to all of the good solid financial reasons for getting an appraisal, there is the side benefit of just feeling like you have accomplished something.

How to Inspect Your Own Real Estate Property

Inspect property

Inspecting your own real estate is not a hard thing to do, but be aware that professional inspectors will often catch more than you will. However, a basic inspection of a property is something that any owner can do. If your property is an improved property (a property that has a building on it, rather than raw land) then you would start your inspection outside. Look around the base of the building for normal wear and tear. While you are looking at that, search for signs of insect infestation. This may take the form of termites, carpenter ants, beetles, and any number of other insect species. The best way to look for termites and carpenter ants is the sign of rotting wood. That wood may not be rotten after all, but a feast for a termite or carpenter ant colony. If you cannot see any insects and there are small holes in the wood that looks rotted, then chances are you have an infestation. If the wood looks rotten but without holes, it may be in need of a simple replacement. Often, a rotted piece will have a moist feel and a discoloration to it where an infested piece will have a dry feel with a grayish color, or no discoloration at all.

While you are outside, grab a pair of binoculars and take a look at your roof. Using binoculars will eliminate the need to walk on your roof and increases your safety. If you see an irregularity in the roof, such as roof tile that is not aligned with the others, or a bump in the roofline, then call some roofers for an estimate of what the problem is and their prices. Never call just one but at least three, and make sure they offer free estimates. Some roofers will charge for an estimate.


Make sure that all exterior plumbing is not leaking and that your soffit is intact. The soffit is that part of your roof that hangs over your walls. Pieces of the soffit that are missing or damaged will be an invitation for infestation by insects or rodents into your attic.


Moving inside, use a flashlight to take a good look at your window frames as they intersect with your walls. Look for signs of water damage or rotted wood. Also, check the drywall with your fingers to make sure it is dry. Wet drywall is not only a contradiction in words, but useless as drywall turns into putty when wet.


As you checked your plumbing outside, check it inside. Use your hand to check the pipes under the sinks to see if they are dry. Check your shower and bath fixtures to see if they are working properly.


As an addition, check your electrical outlets to see if they are in working order. You can purchase an electrical testing unit at a hardware store for about ten dollars, and it is perfectly safe to check those outlets. As always, use caution when check electrical plugs, and call a qualified electrician to fix anything that seems out of the ordinary.


Other items that you should routinely check are large kitchen appliances, exterior door locks, garage doors (if applicable) and window locks.


Doing a routine check of these items can save you money by catching a minor problem before it becomes a major problem.

How You Can Evaluate Lowball Real Estate Offers

Evaluate Offers

Might I begin with, an offer is an offer! I would not look my nose down at any offer. I have worked through enough offers in my life to value the importance of each and every one of them. Keep in mind how important it is to actually sell the property that you have for sale. There are two types of lowball offers. Let’s explore the first one, the “are you kidding me” offer. Right from the start I will tell you that there are people in this world with the nerve to place a $100k offer on a house that is listed for $300k. That said, should this happen to you simply decline their offer but always give them something back. For instance in our example, they offer their $100k and your counter offer at $299k. This sends a clear signal to the potential buyer that you are not stupid and that there is no house here to be stolen away. Many times with gaps this large, that buyer will just go away and that’s what they need to do. Please do yourself a favor and do not allow this type of lowball offer discourage you from continuing to sell your property.

The second type of lowball offer is just a game of ball! When I receive an offer, I appreciate its value even if it is lower than I really wanted it to be. Do you know why? Because the buyer is, in a sense, playing ball with you. And one participant on the playing field is better than none.


First, I would look at the amount of this offer. Then, I would check for their proposed date to close the deal, contingencies like mortgage, pest inspection and home inspections, too. Lastly, I would review the offer for any extras they are asking me for, like that old light fixture that belonged to your grandfather.


Many times buyers offer low just to see what they can get, it’s just the game. What typically ends up happening is that you meet in the middle. An example of this would be a $300k home and they offer at $280k. Each party ends up moving toward each other at a few thousand dollars at a time until they meet in the middle. With this example, both parties would settle and sign at $290k.


Lastly, it is my opinion that all offers should always be handled professionally and with the hope that they will result in the sale of your property.

10 Creative Tips for a Real Estate Flyer

Real Estate flyer

Whether you are renting or selling your home, an attractive, informational real estate flyer will save you time and money. They are easy to make and should provide all the information necessary for a perspective renter or buyer. Sometimes it is hard for the seller to know what to include in a flyer, but if you hit the main selling points of the home, you cannot go wrong.

Features and Facts


The real estate flyer should include a features section that describes the special features a perspective buyer or renter would be interested in, such as:


The amount of acreage the house sits on


Number of rooms and specifics such as 3 bedrooms (12′ X 14″), 2 ½ baths


Living space (square feet)


The average yearly or monthly utility costs


Asking price and yearly taxes


The foundation of the house (poured or cinder block)


Closet space – how many and are they walk-ins


Eat-in kitchen and dining room


Carpeting or hardwood floors


The year the house was built


The type of windows, double or triple pane, east to clean


The age of the roof and what type of roof (fiberglass shingles)


Central heating and air conditioning – age is of both


List of appliances that stay with the home


City water and sewer


Deck or patio


Garden area


Special Feature


Most people design or add-on to their homes to give it a special comfort just for them, but this can also be an added selling point. Before we sold our home, we remodeled the kitchen, adding floor to ceiling pantries. This was a special feature that older homes do not have and was a special feature that helped in selling our home.


Hot tub or Jacuzzi


Walk-in closets with space saving shelving


Industrial strength garbage disposal


Security System


Vaulted ceilings


Fireplaces – type, gas or wood, made with stone or tile


Energy efficient furnace


Italian tile floors


Crystal Chandeliers


10 Tips for a Creative Real Estate Flyer


  1. Real estate flyers can be located in a specially designed weatherproof box next to your ‘For Rent’ or ‘For Sale’ sign or you can post them in public areas such as grocery stores, shopping malls, or laundry mats.


  1. If posting real estate flyers in public places, be sure to add pull-off tabs at the bottom with your name, address, telephone number, and email address.


  1. If posting a real estate flyer in public places, add a map the shows where your house is located.


  1. Add a color print of the outside of the house, plus one or two rooms from within.


  1. Use bold print to define special features.


  1. Offset features and facts with outlined columns and rows.


  1. Avoid flowery boarders and stick to a more business look on your flyer.


  1. I feel including floor plans of the house in a flyer should not be done. It may help sell or rent your home, but it also provides burglars a layout of your home.


  1. Include all school names and districts, and child and adult day cares in the area.


  1. List ALL appliances include with the house.


When creating your real estate flyer, keep it simple and professional looking, list the homes basic features and facts, include the special features that will help sell your home, and include at least one recent photo of the outside of the house.


Source: Major Realty

Evaluating Real Estate Offers: Is it a Lowball Deal?

Real Estate offers

Your house has been listed on the market. You listed your house yourself instead of going with a realtor. You did your homework though. Each realtor you interviewed gave you a CMA. A CMA is a comparative market analysis. That means the realtor researched houses in the past six months that was similar to your house and found the price the houses sold for. In this market it is not uncommon for realtors to give you a comparative of what houses are LISTED for. Ask the realtor which they have done on your market analysis. If you want reasonable offers list your house for a reasonable price. As a general rule of thumb it needs to be around what the houses have sold for in your area. I suggest listing the house for at least 5%-15% more than what the other houses sold for because people always lowball and you will have room to work with them. If you owe money on your house this might cause a problem. You have to get what is owed out of your house or talk to the bank about a short sale.

Now that your house is listed you have offers coming in. The first offer you get comes to you only a couple of weeks after listing the house. If you get an offer that quick chances are good your house will sell and it will sell for close to what you are asking. Quick offers that aren’t far fetched mean you have listed your house at an appropriate price and it will sell if you hold out. Remember all offers are negotiable. You have to play their games if you want to get out of your house.


An offer for 35% less than what you are asking, you pay closing costs for the buyer and you fix all kinds of things in your home is given to you. What should you do? If you overpriced your house you may be able to get away with taking the offer. Should you take the offer though? The answer is no. This is a lowball offer from someone trying to see what they can get or from someone who can’t really afford your house but likes it. Either way you need to look out for yourself as well. If you want to entertain this offer you may want to counter offer. The best thing to do is find out their situation. Do they have to have you pay for their closing costs? How much can they really afford? A counter offer to this just to start out would be full price and you pay closing costs up to a certain amount. They say no and don’t want to continue negotiations. As I said, this is actually a good thing for you because they probably couldn’t afford your house anyway.


Lucky for you other offers come in. You will be able to easily evaluate offers if you list your house. A serious offer is usually full price to 10% less than what you are asking. A lowball and not serious offer is anyone looking for the house to be fixed or improved to their standards and/or 20% less money than what you are asking. Fixed houses and improvements in this market are unrealistic. Most houses are foreclosures with everything missing or beat up so don’t agree to fix anything unless it is a full price offer and the fix won’t cost much.


In this market you will get all kinds of offers because it has turned into a buyer’s market. Buyers know they will be getting good deals because there are so many houses in foreclosure so they don’t have to haggle to get what they want. If you don’t have to sell your house you may want to wait a couple years for the foreclosures to go away and the economy to improve.

REALTOR and Real Estate Agents – Know the Differences

Realtor Vs. Real Estate Agents

People often use the terms REALTOR® and real estate agent interchangeably. But, the fact is, a real estate agent is not necessarily a REALTOR®. The word REALTOR® is a trademarked term, yet often journalists prefer to type it: Realtor, as opposed to REALTOR®, refusing to use all caps.

Other writers choose to ignore the distinction between REALTOR® and real estate agent or licensee, and see the word Realtor becoming to real estate agent what Kleenex® is to tissue. While some may claim REALTORS® are oversensitive, and are simply trying to protect their trademark, that is not the entire story. There is a fundamental distinct difference of definition between the word REALTOR® and a real estate licensee.


Journalists who participate in this sloppy word swapping are doing a disservice to their readers, and in many ways waving a red flag declaring their own ignorance of the real estate profession.


So, what is a REALTOR®? About a century ago many in the real estate industry were viewed as con men and crooks. Reputable real estate professionals banned together and created an association to monitor their industry, and put into effect a standard code of ethics.


The National Association of REALTORS® was born. Real estate licensees who join the association, agree to adhere to a higher code of ethics, and are subject to the association’s sanctions and educational requirements. These members can then add the title of REALTOR® to their credentials.


It is not only the media or general public who get confused over the definition of REALTOR®, sometimes it is the new real estate licensee. When a member of the general public decides to become a real estate agent, they are familiar with the vocation, yet not necessarily fully informed as to the inner working of their new chosen career, such as the continual educational requirements, provisions for participating in area multiple listing services or distinctions between regional, state or national REALTOR® associations.


During real estate school instructors often point out to their students that the fulfillment of courses, and passing state and national tests will make them real estate licensees, not REALTORS®. Some simply don’t get it, at least, not at first.


There is also a confusion over the pronunciation of REALTOR®. It is pronounced real-tor, not real-a-tor.


Some real estate professionals make the conscious choice to not join the National Association of REALTORS®. This is often true for those specializing in commercial real estate.


Belonging to the association brings many benefits to the real estate professional, and to their clients. The association requires its members to take frequent ethics classes, along with other educational opportunities, and the agent is monitored by his or her peers.

Tips for Selling Your House in a Down Market

Down market Selling

As the director of media relations for the Arkansas Realtors Association, I’ve kept track of homes sales in my state in both good times and bad. Like most markets around the nation, we saw an unprecedented boom in sales in Arkansas from 1999 through 2005. At the beginning of 2006, sales started coming in noticeably slower and have continued to decline since.

The rate of declines in sales depends on where you happen to live. We’ve heard of catastrophic declines in markets where sales were outpacing other areas around the nation from 1999 through 2006 — areas such as Dallas and San Diego from which we hear all sorts of grim housing market news. Most smaller markets, however, didn’t shoot up as quickly as larger, urban areas during the boom years and the declines in those areas haven’t been as severe either. That’s certainly been the case in Arkansas, where sales have declined, but home values have remained relatively flat — good news when you’re comparing markets here against those in which homeowners are losing short term value in their houses.


But there is one thing common to almost all housing markets right now. Inventories have increased substantially, meaning sellers have found themselves in a position where they must compete with each other for buyers. That’s quite a bit different than how things were just a couple of years ago when buyers were in competition with each other and it was very common to find sellers sitting back and enjoying bidding wars driving up the prices of their homes. That shift has made it essential for sellers to change their strategies in order to find buyers.


However, a lot of sellers still behave like its 2005 when listing their homes, thus making some critical mistakes that prevent them from selling their houses within reasonable amounts of time or, in some cases, not at all. The good news is, there are some strategies sellers can employ that can dramatically increase their chances of selling their homes.


Pricing is critical


Just a couple of years ago, sellers commonly employed a common tactic of finding out what their homes were worth and then listing them for more money. If the fair market value of a home was, say, $180,000, then why not list it at $210,000 then negotiate a lower price is necessary? That tactic worked well in 2005 when inventories of quality homes were considerably lower — when demand outpaced supply — but it doesn’t work as well right now. If a seller puts that $180,000 house on the market, it’s a near certainty that he or she will be competing against a lot of other sellers with similarly priced homes. If a buyer is in the market for one of those homes, why on earth would that person go look at the overpriced one when equivalent homes are on the market for less money? If a seller doesn’t attract any serious buyers, then the strategy of listing high then negotiating downward simply fails.


Still, there are a lot of sellers out there who still cling to the notion they can always drop their list prices if their homes don’t sell quickly. Again, such an assumption is a mistake in today’s market. Homes get the most exposure within 30 to 60 days of being listed, so a seller who lists high then reduces the price later on will miss out on a lot of potential buyers. There is a bit of a stigma involved with homes that have been on the market for too long in that sellers ask themselves what’s wrong with a house that has languished without offers for a few months.


By the way, how does one go about finding that fair market value? The short answer is to hire a Realtor and let that individual run a comparative market analysis and find that value. Not everyone wants to hire a Realtor to sell a home because they don’t want to have to pay a commission. That’s fair enough, but homeowners still need to realize the importance of finding out the fair market values of their homes. A homeowner not wanting to hire a Realtor to figure out how much a house is worth can possibly figure that out by looking through courthouse records and seeing how much homes in the neighborhood have sold for recently. Also, one can definitely find out the value of a home by hiring a real estate appraiser to make that determination.


What do I offer that my competitors don’t?


With a lot of homes on the market, it’s very important for sellers to make sure their houses stand out from the pack. That can be achieved in many ways, of course, and the most obvious tactic to use it to simply list the home at a bargain. If a home has a fair market value of $180,000, then listing it for $170,000 will certainly attract buyers.


But most homeowners aren’t interested in selling their houses for less than they are worth, and there’s simply no need for such tactics in most markets. Generally, a house will sell if it’s priced well, provided the homeowner is a bit patient. To boost the chances of finding a buyer even more, consider the time-honored draw of curb appeal — if your home looks better from the street than the one for sale next door, guess which one potential buyers are going to look at first. Boosting that curb appeal can be relatively inexpensive. Make sure that lawn is mowed and edged so there’s a crisp, sharp division between the yard and driveways and sidewalks. If you’ve got hedges, trim them. Painting the front door and shutters if they look a bit ragged can boost the appeal of your home, too.


Some more aggressive tactics to use involve throwing in a little extra with the home. In this market, sellers have had great success in throwing in a free home warranty with their houses. A home warranty is, simply put, an insurance policy that will replace or repair the major systems in a home if they fail. Buyers like the piece of mind that comes with a home warranty and sellers are attracted by the fairly low price of taking out a one-year warranty — typically less than $400 in this market.


Homeowners with pricier properties have found some success in offering very tantalizing items in their listings. While we haven’t seen a lot of homeowners throw in free cars with their houses here in Arkansas, we have seen sellers offer items such as high definition television sets, generous remodeling allowances, privacy fences and other items that buyers appreciate.


The outside of the home looks great, but what about the inside?


A home that has great curb appeal may well get a buyer inside a home, but that’s only half the battle. The inside has to be appealing, too. Fortunately, sprucing up the interior doesn’t have to be expensive. Most of the time, simply removing clutter from the interior is enough to impress a buyer. Always remember — buyers want to imagine what a home will look like when they move into it and place their items inside of it, so remove anything that will interfere with the buyer’s ability to do just that.


Removing clutter, in other words, involves more than just tidying up a home or, indeed, giving it the thorough, “both barrels” cleaning. When we talk about removing clutter, we’re talking about taking out almost everything that is too personal. Knick-knacks, pictures of family, that painting of Elvis on black velvet and other personal items provide buyers with a great idea about how a home fits in with your life, but can prevent that buyer from painting a mental picture of how his or her items will suit the space. So, remove those items. While you’re at it, remove much of what’s typically in storage areas such as closets so that prospective buyers can get an idea of how much space will be available to store their items.


Similarly, removing evidence of pets in the home is a good idea. If you’ve got a buyer who hates cats, that person will react harshly upon seeing a litter box and will likely be biased against the home. I know of one Realtor who removed pets entirely when his house was being shown — he spent a lot of time putting his dogs in his truck and driving around town with them when prospective buyers would come to visit. The theory, of course, is that pets would distract buyers from forming the requisite mental picture of how the home would suit their lives.


Another thing to consider is how much furniture is in each room. If there’s too much furniture in a room, it can looked cramped. Interestingly enough, a room will also look small if it’s completely stripped of furniture. A good rule of thumb to use is to put no more than three major pieces of furniture in a single room — in that case, three really is the magic number. A room with three major pieces of furniture just looks right and demonstrates how the space can be utilized well without making a room look to barren.


For those wanting to really spiff up the interior of their homes, fresh coats of paint and a little updating can go a long way. If you’re going to paint a room, make sure to stick with neutral colors. You may like that bold green wall with purple trim, but will a prospective buyer like such bold color choices? Also, it doesn’t cost much to update a bathroom with new faucets, towel racks and other items that will modernize that often overlooked room of the house.




A few years ago, one could get away with simply sticking a “for sale” sign in his or her yard and waiting for offers. In the current competitive market, that tactic doesn’t work as well. Hiring a Realtor can take care of the bulk of those marketing problems because Realtors have access to the local multiple listings service (MLS). Most homes are sold through MLS systems as Realtors in a given area both list and review properties in them. If Sam Seller lists his home in the MLS, it can be shown to Sam Seller even if both the buyer and seller are represented by different Realtors.


Again, however, there are a lot of sellers who had rather go the “for sale by owner” route and take care of selling their homes without going through a Realtor. While having a listing in an MLS is valuable, it’s not the end of the world for people who don’t have access to the local MLS because they aren’t selling their homes through Realtors. Still, it takes a lot more these days to sell a home than putting a “for sale” sign in the front yard, so make sure to set aside some money for newspaper ads or, if available, magazines in your area that run listings of homes.


However you choose to market your home, remember that pictures are perhaps more important than ever in selling your house. If you have a Realtor who is listing your home through an MLS, then you’ve certainly got the option of posting a lot of photos of your property in that listing. Make sure those photos are of good quality and show off the home in the best light. Avoid using photos with people and animals in them and make sure you’re not sending in photos that are dark, show cluttered rooms and etc. When going through an MLS, listings and photos are picked up by national sites such as — places where people around the nation go when shopping for a home.


Whether you’re marketing through an MLS or otherwise, it’s always a good idea to have photographs available. If you can get those photographs posted on high traffic Web sites, you’ll wind up with more buyers.


Know your market


Here in Arkansas, we’ve seen the housing market slowdown in the higher price ranges, whereas things are moving along well in the lower and mid-price ranges. The reason for a lot of that slowdown is, of course, that builders were very interested in constructing expensive homes a couple of years ago because there was a lot of demand for them. A lot of buliders ignored the middle price ranges, resulting in the current situation in which there are a lot of expensive homes in inventory and an actual shortage in some other price ranges.


So, someone selling an expensive home has a tougher row to hoe than someone with a house in one of the lower price ranges. Finding out which price ranges are moving and which ones aren’t can be a very important factor to consider if you’re thinking about selling a home. Doing some research before putting your house on the market can save you a lot of time and aggravation — whether homes in your price range are selling might well be the deciding factor as to whether you’ll list your home and try to find some buyers.


But what if you’ve got to sell that expensive home? The good news is that there are still a lot of homes being sold and sellers that are marketing their homes well and making them attractive for buyers are finding that, with a little patience, they’ll receive some good offers. One thing we’ve found is that a lot of buyers have caught onto the fact that they’ve got a lot more buying power than they did a couple of years ago and are out to find some bargains or, at least, get a home for fair market value. Pricing your home well and marketing to those buyers will typically pay off in the end. You might have to wait a bit longer to sell your house than you did a few years ago, but you will eventually sell it.

Real Estate Titles: Understanding Your Agent’s Credentials

Real Estate Credentials

When choosing a real estate sales agent to represent you in a sales transaction, you may wonder what the initials are behind an agent’s name. Familiar initials are GRI, CRS or ABR. There are also words, such as Realtors, Designated Broker or Associate Broker. But what do they mean, and what do they mean to the client?


The first familiar word is Realtor, which can sometimes even be confusing to real estate sales agents who are just entering the profession. Not every licensed real estate sales agent is a Realtor. A Realtor is a member of a professional association, which has been created to promote a higher code of ethics for its members.


A Broker or Associate Broker starts out as a sales agent. In Arizona, you must have three years experience as a licensed sales agent before you can aspire to be a Broker. Those who earn their Broker’s license must completed specific extensive education requirements and past state tests. After earning your Broker’s license, you may choose to be a Designated Broker (DB) or Associate Broker. Sales agents must work under a Designated Broker, who is in essence “the boss”. If you are an Associate Broker, you also work under a Designated Broker. Many sales agents decide to progress to Broker for the education, and have no intentions of becoming a Designated Broker.


GRI stands for Graduate of Realtor Institute. It is a designation developed for members of the National Association of Realtors, and is offered through state associations. To earn the designation requires 90 hours of coursework on various topics, such as marketing and real estate law. The classes, which can be used to fulfill the agent’s ongoing education requirements, tend to be more extensive and require testing, unlike standard continuing education courses.


CRS stands for Council of Residential Specialists. This designation is considered the highest awarded to a sales associate in the residential field. To qualify requires recognizing both education and experience.


ABR stands for Accredited Buyer Representative, and focuses on training for buyer’s agents. The applicant must fulfill both requirements of education and experience, and must pay an annual membership fee.


SRES stands for Senior Real Estate Designation. This designation is earned by Realtors who complete coursework on how to best meet the needs of homebuyers in the 50+ age group.


There is a wide range of designations and certifications, many of which require good standing membership in the Realtor Association. It is not uncommon for a commercial real estate agent to not be a member of the Realtor Association. There are a variety of designations that may or may not be sanctioned by the Realtor Association.


Many required classes, either to fulfill continuing education requirements, or to complete a designation or certification course, may help the agent better serve their clients. The next time you choose a real estate sales agent, check out their initials and titles, to determine which agent might better serve your needs.

Tips for Successful Real Estate Flipping

Real Estate Flipping

One important skill you need to develop is how to analyze real estate deals, to be able to tell a bad deal from a good deal. This will make a difference in determining your overall profit. It is best to be sure you have accurate information on the area you are thinking about investing in. You need to farm a certain area and become familiar with it or have a real estate professional that you can consult. You will also need to be able to determine which things on the property that will need to be repaired to achieve a reasonable market value and a good estimation of what those repairs will cost. Always leave room for unforeseen difficulties and obstacles that may arise.

Negotiation is another important part of being a successful real estate investor. This can make a big difference between having a large income generate a considerable amount on the table. You want to make sure that you are building a profitable business that will keep growing over time but you do not want to play mind games with a seller to get them to sign a contract. Your negotiation skills will improve over time when dealing with sellers, contractors and other professionals that you will be working with.


You will also need to work on building your networking skills as they will have a large impact on your bottom line as you will likely be relying on other professionals to help move your real estate deals along. Some professionals you may be networking with are real estate agents, tax advisers, attorneys, contractors, and title companies. You will need to network continuously in order to choose the best people for these important positions.


Your marketing skills will also be very important in building your real estate flipping business. Sometimes this marketing might include flyers, signs, classified ads, direct mail, and word of mouth. Having a well set up marketing plan in place will free you to work new deals while your marketing strategies are operating to bring in new prospects.


It is necessary for any successful real estate flipping business to have good organization. One or two deals working at once can be handled pretty easily but when you have four or five going on at once it can get very confusing if you are not well organized. The deals will be at different stages at different times and you need to be very organized in your planning in order to get them all closed on time. Your organizational skills will keep everything running smoothly and efficiently.


Building all of the above skills will help you to achieve maximum success in developing your real estate business. Keep improving on these skills as you go along and watch your business grow.

Mobile Alabama Real Estate – What You Don’t Know Could Be Costing You Money

Real state

Mobile-Alabama-real-estate and the process of purchasing or selling property are points that are looked at in depth in this article. Many things can impact the prices of real estate, and you will learn some facts that will help you. This information can provide you with crucial financial insights if you want do business in the Mobile Alabama real estate market.

When you compare Mobile-Alabama-real-estate statistics to those in other areas of the nation, there are some variations you should probably know about. Before enlisting a professional agent to help you hunt for property, it is often sensible to learn some information about the market on your own first. You will probably be interested to know that the cost of the average home in the Mobile Alabama real estate market is $147,000.00. And the number of homes now on the market gives you some idea of the likely competition you can expect. At this time, a total of 480 houses are up for sale. This is exactly the kind of information you want to know about homes in Mobile, or anywhere else you might be considering.


If you want to enter the Mobile Alabama real estate market, you should ideally choose an agent who specializes only in that area. If you’re going to be buying real estate in Mobile but selling a home that’s located in a different area, then use a local agent there to sell your home. So there could be two realtors helping you in this case. When you’re buying Mobile real estate after selling elsewhere (or vice versa), you should be using realtors who specialize in each of the markets involved. This is the best way to ensure that you are dealing with a professional for each transaction.


Or you might not now live in the Mobile real estate market, but for whatever reason you’re going to be relocating there. If you are moving in from someplace else in the state but looking at homes in Mobile, then you need to take some time to learn about the area before you come. And if you’re relocating from another state then you will need to make a direct comparison of the markets from cities nationwide.


The Mobile Alabama real estate area has an average annual income of $31,445.00. This is in comparison with the median US income of $44,512. The average home has 2.46 people. This data covers an area in which 27.4% of the households include children. This information is particularly important for parents, since it provides some insight into the quality levels of neighborhood schools.


The percentage of the population in the Mobile real estate area that are single males is 14.9%. And 15.6% are single females. Allow yourself about 22.9 minutes to get to work if you are planning on driving. According to national data, the average commute is slightly more than 26 minutes.


Bottom line, you must remember to use a local real estate agent when you are looking to buy or sell property. If you are selling real estate in Mobile, find an agent who can sell it for you. When you’re looking to buy a home other than in the Mobile Alabama real estate area, make sure you find a good agent there who will be able to find you the home that best fits your requirements.


You’ll have to think about a lot of different things when selling or purchasing real estate. The right home for you depends on a variety of factors, including not just the cost of the home, but also individual circumstances. Since you have some good information about the Mobile Alabama real estate market now, you should learn even more in order to make a very important fiscal decision that will affect your entire financial life.