Ultimate Real Estate Newsletter 8/26/16 Edition

 

Unlimited Real Estate Magazine

Knowledge is everything in Real Estate

Arizona Discount Listing Service Starts at $995

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Listing Service Ohio Howard Hanna

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Needing good income Real Estate? 

If your wanting to buy some solid Income Properties then you might want to look in the Phoenix Metro area.  We have purchased a couple of great income properties this year and they have been successful.  I posted the numbers below that we got for these listings.

Rent____$  1275 a month
Taxes___$ 81 a month
HOA____$  72 a month
Insuranc_$  60 a month
Property Management
________$130 a month
Net proceeds
_______$ 932 a month.
These are 3 bedroom 2 bath homes with 2 car garage.  These two homes were post 2000 built so they are newer.  We had inspections and got home warranties on them.  We also assisted in getting them a tenant for each property.
Phoenix area is a great place to own income real estate. The landlord/tenant laws are very favorable to landlords.  The amount of quality tenants are limitless it seems. These properties are around $165,000-$175,000 and are in very quality areas. The rents are stable and attract a lot of potential tenants.
These areas are seeing increases on there home values and have all the amenities your tenants need. I have purchased and Sold over 300+ properties in these areas and lived there for 32 years. Getting the right income real estate requires a team that will assist you in finding the best property for your portfolio. Call Brett 602-363-6551 West USA Realty

Looking at Real Estate as an Investment is Crucial

Whether you are buying a home to live in or for income it is crucial to always look at it as an investment. In most cases it will be the largest purchase in your life.  Let’s face it when you buy a vehicle you know that the value will probably not be there when you go to sale it.  Soon as you drive it off the showroom floor you cannot go back an even break even.

Real estate is totally different and we need to think differently about it. When you are looking for a property to buy as and investor or home buyer you need to look at that purchase as an investment. When you sale your home you want to make money.  For a lot of people that is a lot of their retirement money. Having a home that can supply a nice nest egg makes life better and easier. Then you throw in the tax benefits you get with real estate also.

Prices today are about where they were in 2004-2005.  That means we just caught up to over 10 years ago in home values. I think that means that homes have a way to go in value. With the low interest rates that you can get today helps the values continue to rise in most areas. We still need new home builds to keep up with demands.  Inventory is at a all time low at 4.6 months, you like to see at lease 6 months of inventory. Imagine what will happen if home builders start ramping up their new home builds?

Buying a home to flip,rent, or live in you need to consider the present and what you think the future holds for the area you are considering,  For example is there employment moving in? It the schools good? What is the crime rate? Is the area adding new amenities to their area like restaurants, shops, night life? Does the Downtown area have a nightlife for people and their families?  Is it close to the major metropolitan downtown area? These are questions you need to ask yourself when you are looking to purchase real estate.

Lastly especially if you are an investor look at the population of the metro area.  I like over 1 million people.  Cleveland metro is around 2.4 million and Phoenix is over 4 million. That means that business is being done and there are plenty of qualified people to do it.

Buying foreclosed homes and remodeling them can get you equity from to get go.  They also allow you to add your touches to your home. I have bought and helped buy over 1000 homes and remodeled them for this reason.

Whether you are looking to invest for income, flip or  just to live in call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona. We Tailor Fit your real estate needs.

9 Ingredients of a Great Neighborhood

Buying real estate requires some ingredients that a neighborhood and area must have. I see a lot of ads that promote returns on income real estate based solely on fiction.  I found this article @ http://www.realtor.com/ by  Angela Colley that talks about some ingredients needed for a great neighborhood. You really need to ensure that any real estate you buying has these ingredients.

Anytime your looking for real estate your Realtor should know why it is beneficial to live in the area they are showing you.

 Grocery stores : This is crucial and you need to know what type of grocery it is. In Cleveland Metro you would want to see Giant Eagle, Heinen’s, Daves , Whole Foods or Marcs.  These stores are usually in the nicer areas.  Heinan’s is a high income neighborhood grocery store that caters to the high income people.  When you see one you know that area is very nice. In Phoenix you have Frys, AJ’s,Sprouts,Safeway. AJ’s is your high end grocery store in the Phoenix Area. Anytime you see a Trader Joes that is a really good sign that neighborhood is nice.

Local restaurants : They tell you a lot about the income in an area. If you see Ruth Chris Steak house you know the clientele is high end. If you see a Long Horn Steak House still nice just not as expensive. They are also usually in nice areas. Looking at the local menus can tell you a lot about what type of neighborhood it is. Look for names you recognize and like for areas you are considering.

Coffee shop: Any Starbucks, Panera Bread, Tim Horton, or any other nicer coffee shops is a great sign that neighborhood is good. There are also a few mom and pop coffee shops that are nice. The key is having them in a neighborhood you are considering.

Remember these ingredients need to be in your neighborhoods and they are important to your success. Don’t just look at the price, know the area and what is in it. Local business that I mentioned above have done all the homework for you. They study the areas they are in and they only go in neighborhoods that fit their business mold.

Want to know the neighborhoods in the Cleveland Metro and Phoenix Metro areas?  I can tell you in detail where these neighborhoods are and the best bang for a buck areas. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Brand New Listing In Brook Park Ohio

$139,900 3 bedroom 2 bath 2 Car garage 1533 Sq ft

This home has been totally rehabbed! New Kitchen, Stainless Steel Appliances,All new flooring, Sparkling new bathrooms, New exterior and Interior Paint, Enclosed back patio, New heater and Air conditioner, Recessed lighting, New Lights, plugs and switches.

Large open floor plan that allows you to entertain and enjoy you home after a work.

 Call Brett 216-703-5740 Howard Hanna

This is the best time in history to invest in real estate

Great article from http://www.marketwatch.com by Jeff Reeves   that talks about the real estate market and the fact that we are in a great time to buy real estate.

Critics will warn that rising prices and rising demand can indicate a bubble the same way they did in 2005. But when you dig deeper, the housing market is much healthier than during the previous run-up. In fact, Realtor.com has created a “bubble index” to show how different conditions are from 10 years ago, using metrics like the prevalence of house-flipping, price-to-income ratios and the share of buyers using mortgage financing. Even in high-growth markets like San Francisco, we aren’t seeing behavior that mirrors the frenzy of the mid-aughts.”

I was in that market om 2005 and I can tell you this is a way healthier market than that era. Buyers in my markets are buying at a great pace, but I would not call it a frenzy. My listings for flips are 32 days or less.  They are selling because they are the nicest homes in the area and inventory is extremely low. That is a nice market that will continue to be steady and profitable. New home builds are not prevalent in a lot of my areas.

Some people will always see all leverage as risky, and point to easier lending as the cause of the previous housing crash. But financial innovation so mom-and-pop investors don’t have to take a typical mortgage out from Fannie and Freddie to buy a rental is simply reducing friction in the market by properly assessing risk — not lowering lending standards the way so-called liar loans did.”

Income real estate has very low vacancy rates and they are producing solid returns for there investors. The loans today are also not risky with better borrowers and tighter lending practices. This will keep the mortgage paper flowing with A paper and the interest rates are very low.

“Whether it’s stricter lending standards, a shift in attitudes among borrowers or simply the nation getting wiser about the risks of real estate, we’re hardly seeing irresponsible buying in 2016.

That is why the real estate market will continue to be a solid asset to place your money. Being on the streets and talking to buyers at open houses and on the phone they are still picky.  They are also careful in buying a home. Lori just sold a home in the Akron area to a millennial that had the income to purchase a higher priced home. She decided that it would be more prudent to have a lower payment and enjoy her home and dog.

The market is really different today than it was 10 years ago. Buyers and Sellers are making sure they have the right assets to live and make income with in the real estate business. Call Brett
216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Housing Had a Great First Half of 2016, but Will It Last?

This article comes from http://www.realtor.com/ by Jonathan Smoke one of my favorite writers. He talks about all the different factors that are effecting the real estate market.

We had great expectations for the housing market this year—and so far, 2016 has certainly delivered. Looking back at the first half of the year, it’s nothing but good news:
  • Total home sales are up 5% compared with the first half of 2015.
  • Median existing home prices are up 5% as of June, setting a new record.
  • Overall, we had the best spring in a decade.

Plus, continued robust appreciation has restored home equity for many homeowners—and higher home values encourage owners to invest in home improvements and even to consider selling and buying again (to move up, downsize, get into a better neighborhood, etc.).”

It has been a great market this year and there are a ton of buyers still looking for that perfect place to call home.  
We are seeing the leading edge of millennials entering into homeownership in large numbers, particularly in more affordable markets. At the same time, more baby boomers are making retirement decisions, providing inventory and powering sale”
Yes I have seen both buyers in this market and the millennials are buying homes that they want from the start to stay in for their entire lives.  Baby Boomers are looking for more financial freedom and are downsizing.  The Baby Boomers also have become empty nest’res., 
But even with all that demand, the market can grow only so much, because of the limited inventory of homes for sale. At today’s pace of sales, existing home inventories would be used up in 4.6 months. In June, using data from realtor.com®, we estimated that potential buyers were up 13% over last year, yet available homes for sale were down 5%”
 Limited inventory will effect the sales in the real estate market only because of the lack of homes to buy. I have mentioned this before but builders just are not keeping up with the demand. 
That being said people who find homes in this market to live or add to their real estate portfolio will benefit from the lack of housing inventory. I watch the real estate market almost daily and I can tell you there are less and less homes in this market.  Bad news for buyers and great news for sellers. 
A stronger economy, more jobs, lower unemployment, and higher wages will power demand. Higher rates will also likely help loosen credit. Those positive conditions coupled with demographic tailwinds from millennials and boomers will keep the U.S. housing market healthy and strong for at least two more years”
This is great news for the real estate market. The housing market will stay strong for a lot of reasons. One of them is the mortgages are good solid ones.  With all the restrictions and new credit regulations will help the mortgage market stay good. This helps the lenders sell their mortgages to the open market, and keeps more liquid money to lend.  
Most home buyers today look at the cost of a home and are really educated about it.  This will make for less foreclosures and a better overall real estate market for years to come. 
I can still get great deals on properties why wait? Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona. We can get you a Tailored Real Estate Plan for your housing needs. 

How Much Can a Full-Service Real Estate Agent Do to Help Sell Your Home?

This article from http://realestate.usnews.com/ by   talks about what Full-Service agent means and what services it includes.

“Real estate agents have traditionally provided home sellers with a complete service throughout the transaction, from the initial consultation and marketing to showing the home and negotiating with the buyer’s agent. But particularly in the last decade, companies and agencies have begun offering a la carte alternatives to full-service agents, giving sellers the opportunity to choose what they need help with, from marketing to assistance preparing for the closing process, while collecting a flat fee for each service”

Every region is different and in Arizona were I’m with West USA Realty I do have a menu of options that you can choose from as a home seller. Flat Fee, Full Service, and other options.  In Ohio I’m with Howard Hanna Realty the largest in the area. They spend a ton on marketing homes and require a set fee for the listings. They believe that traditional real estate is the best way to serve a home owner, and in Ohio that is probably correct.

““A good real estate agent is going to offer professional photography, professional videography – and not just virtual tours,” Hall says, noting that the automated slideshow of a home set to elevator music is already seen as dated.”

We do that and then some. I am an agent with Zillow and with that all my listing are premier listings.  That means they are seen by a lot more potential buyers. Also we have a lot of other venues including this blog.

““Any good real estate agent should have a general contractor – not just a handyman, but somebody that can handle a wide variety of tasks,” Hall says. ”

I have that in spades rehabbing over 1000 homes. You really need to have a general contractor to help with any updates needed that help the home seller make more money. Also for buyers that wnat to buy fixer uppers and rehab them to their specifications. It is a very big bonus to have a Realtor with these resources. Just yesterday a client needed some cement work done and I gave him a guy to call. I also have a few contractors to choose from.

Rehabbing many homes also allows me to see what helps a home sale and what doesn’t.  I was with a client yesterday that gave me a listing and was very happy with the upgrades I had told them to do on their other homes.  The sale prices went up and they sold a lot faster.

Having a vast array of services that you can use is important to both investors and home owners, I have all the different types of services you may need, Please call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.

Is there any differences in Realtors

I get ask a lot about why I have my Realtors license and am I like all the other Realtors The answer of course is no……..There are many reasons why I am not.

Realtors do have to get there license by taking 25 classes in Ohio.  Those classes are 4 1/2 hours each and you have to take a state and federal exam. When you pass those classes you still have to take another 10 hr course within a years time. I recently got an email on another class I need to take by the end of this year.  During your time as a Realtor you have to take continuing education classes every few years.

I also have my license in Arizona which I have to take continuing education classes for that license. I have had my Real Estate License there since 2000. Those are 24 hr classes that have to have a study and pass an exam on each module.

The reason I originally got my Real Estate was because I could not find a Realtor for my needs.  I wanted to get properties and rehab them to sale. It eventually worked into other like minded people that wanted to buy and sale real estate also.

After 16 years in this business and over 1000 properties purchased, some of them mine and others were my clients I have learn ed a lot  about buying and selling real estate doing that many properties.

This knowledege benefits both Me and my clients.  I just had lunch with one that appreciated my consulting on his homes.  he informed me that my advice has cut his days on market and is giving me all his listings and he sells his homes for top dollar..  I appreciate his business and keep him updates on the current real estate market.

Another client called me and wanted to get some properties in his portfolio at a certain price point that fits his needs. I am currently filling his order.

Having long relationships with clients and getting their real estate portfolio’s orders filled is all I do.  If your looking for a home in a certain area then we also have a tailored plan for your need.

As Realtors we are different, we service all your needs and help you understand each city in detail.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Hilton Cleveland Downtown Hotel Construction Time-Lapse 

Check out the time lapse video of the construction of the first New Hilton Hotel to be built in many years and they choose Cleveland. Great for the city and the area.  The downtown continues to be remodeled to a state of the art downtown.

There are so many different places you can go to and enjoy your mornings or evenings. One of my favorite Coffee houses is  Pourcleveland.com/ excellent place to enjoy a good coffee brew. Also you can enjoy a steak at XO prime steaks. They have a great menu and Delicious cuisine.

These are a few places you can go and enjoy your free time in Cleveland. Go to east 4th Street to save some time! They have eateries, entertainment, and fun places to shop.  Staying in the downtown area can be a fun filled weekend!

Check out this great video and call Brett 216-703-5740 I’m with Howard Hanna and know the areas.  I would love to introduce you to the Cleveland Lifestyle.

 

  

Check out this weeks rehabs and updates!

Check out all our updates on our YouTube Channel

Private Money for Real Estate Information

Call Brett 216-703-5740 or 602-363-6551 to get your Private Financing

 

 

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