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Archives for May 2014
Why is it a Great Time to Buy Property Now??
The best time to buy home is now…
Some of the simple reasons why now is a great time to buy is because: rates are very low, prices are still low compared to previous years and inventory has been increasing here in Orange County. Check out this slide show to go over more reasons and more information about the 2014 Real Estate outlook.
For more information about your neighborhood or city, contact us Call Now: (949) 682-9930
Back on the Market!! Great Income Property in Long Beach!!
Great Income Property for Investors!!
Property is located in downtown Long Beach, has 3 units of 2 bedrooms 1 bathroom and one unit of 5 bedrooms and 2 bathrooms. Current cash flow per year is $58,200. Gross Multiplier of 10.19 and Cap Rate of 7.27.
For more information contact Louis DiGonzini at (949) 607-8543
Perfecting The Fix and Flip: Top 4 Mistakes To Avoid Losing Money
Perfecting The Fix and Flip:
Top 4 Mistakes To Avoid Losing Money
Phoenix house flipper Marty Boardman is a professional fix and flipper. He finds, buys, remodels, and sells and average of 30 houses per year. Along the way, he has made plenty of costly mistakes. Here is his list of top four mistakes he’s made as a fix and flipper that you should avoid when considering attempting this lucrative real estate venture:
1. Overestimating the value of a property
This is very easy to do, especially if you’re desperate for a deal. I find this happens to me because I go into the project thinking that I’m going to make house look as good, or better, than any other recent comp. Thus, the market will pay more. Of course, there can also be undisclosed environmental factors that adversely value. Like a 300 lb. barking dog living next door to my property.
2. Over remodeling the property
This happens a lot to new investors I meet. They think the property has to look as good, or better, than their own. I’m sorry but granite counter tops and plantation shutters aren’t necessary for an $80,000 track home on the outskirts of town. Formica and 2” fake wood blinds will do. Too many bells and whistles will kill your margins.
3. Under remodeling the property
Of the 4, I make this mistake the least. I tend to over remodel. However, on occasion I’ve cut a few corners. Whenever I elect to clean carpet, rather than replace with new, it seems like the house sits on the market longer, and sells for less. I mean who doesn’t love the smell of brand new carpet?
4. Underestimating the holding time
Determining how much demand there will be for a property is one of the most difficult things to do as a fix and flipper. It’s impossible to know who will want your house, and when. I flipped a not-so-special house in a not-so-special neighborhood in 27 days. It turns out the buyers had a son and daughter-in-law that lived three doors down. Conversely, I flipped a house in two weeks, bought the same model 5 doors down to flip, and it sat on the market 5 months.
If you’re interested in fixing and flipping a home, having a real estate agent to find you the right property in the right market is key to future profitable success. Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize. Call for a free consultation at (949) 682-9930 or email us at louis@dighomes.com . If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
Luxury Homes Of Orange County
Time To Enjoy The Good Life
Orange County is full of luxurious homes. There is an artistic breath-taking beauty in their architecture and scenic location. If you’re in the market for luxury real estate, the DiGonzini Group has the resources to get you what you desire.
Don’t miss your opportunity to live in one of the best places to live in the world.
Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize.
Call for a free consultation at (949) 682-9930. If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
Being Prepared: The Questions To Ask At An Open House
Being Prepared:
The Questions To Ask At An Open House
An open house is a great way to check out new neighborhoods, get a feel for what you might be looking for in a house or even finding a real estate professional to be your buyer’s agent. But many people who tour an open home are looking at it with the potential of living there.
When you walk into an open house, don’t just take a poke around the beds and baths and move on. Make sure you ask the agent the questions below – even take notes if you need to!
How long has the home been on the market? Agents often hold open houses when first marketing the property, but it’s also a marketing tactic to hold an open house after a price drop or if the sellers switch real estate agents. Knowing all the details will help you decide your next move, such as if and what to offer. If the home’s been on the market a few months, the sellers might be willing to accept a lower offer.
Have there been any offers? Why weren’t they accepted? This question lets you know how much competition there is for the property. Finding out why the sellers didn’t accept a particular offer also helps you write a better offer that could meet their approval.
Why are the owners selling? The sellers’ agent has a responsibility to them not to disclose factors that might hurt the seller’s chances at getting the best offer possible. However, he might let you know they’re moving out of state for a new job or building a home or downsizing, which could help you decide what to offer and when to close.
What appliances and features are being sold with the house? Most of the time, major appliances, such as stoves, refrigerators, washers and dryers come with the house. But they don’t always. And if you don’t already own these items, you might want to factor the purchase price into your offer. Likewise, if there are features you admire – like a shoe carousel in the closet – that don’t come with the house, you can add them to your offer.
Does the property have special ownership costs? In condo complexes and some gated communities, owners are assessed Home Owners Association fees on a monthly or yearly basis. While those fees might not deter your interest in the property, it’s best to know the fees up front so you can write an informed offer.
How does it compare with the other homes in the neighborhood? This question encompasses whether the home will be appraised at the asking price and whether it matches up with the comparables in the neighborhood, plus whether it’s in the same general condition as the other homes. Don’t just trust the listing agent for this, though. Get your buyer’s agent to pull recent comps and check pending sales to help you set your offer price.
Can I have a disclosure statement? A disclosure statement lists issues on the property that the seller knows about. Perhaps these are things that came up in his home inspection – such as asbestos in the heating system or lead paint on the walls. It also tells how old the property is and how long the seller has lived there, plus environmental and structural information the seller knows.
Don’t miss your opportunity to buy your first home, trade for a bigger home or simply downsize. Call for a free consultation at (949) 682-9930 or contact us . If you don’t live Orange County, we are connected with great agents in different cities and countries. There’s a good chance we have connections with agents near you. So contact us and our team will help you with your real estate needs or we will introduce you the right agent for you.
