Man vs. Machine – It is the age-old question. Can a machine replace a person? People and computers have worked together to make most tasks simpler and faster. People have invented brilliant machines and programs to boost our productivity, and in return raise our profits. Machines can process information faster. They can solve problems and provide specific and up-to-date solutions. So is it safe to say that machines have replaced the real estate agent? Does it mean that we don't need real live agents anymore being that technology can do a lot of the job?
Absolutely not! These machines still need human input. Any computer savvy real estate agent or his assistant can manage all of his properties online, freeing the agents’ time for meetings with prospective clients, showing properties, etc. It is also a great way to ‘weed out’ the serious buyers over the ‘browsers’. While the ‘browsers’ are content to stay at home viewing all of the wonderful information you have on the internet, the serious buyer is already hooked on his dream home and is making an appointment.
There are many ways to advertise your property online, detailed descriptions, photos, virtual tours, videos and the like. The serious buyer will still want to see the property in person while the ‘browser’ will be satisfied with the online information and browse to their hearts content. Finding a home has never been as easy as it is today. Everything is right at the tip of our fingers. With just a few clicks, we can browse different price ranges, styles, square footage, room counts, lot sizes, and neighborhoods; we can even narrow our search to minute details in seconds. We can submit pre-approval applications and even estimate what our payments might be.
There are many areas where a realtor humbles technology. One of those areas that a machine cannot compete with is that the realtor knows all of the intricate details of a property. The computer can only pull all related key words that you put into the search. The realtor is physically acquainted with the property. They can also explain all of your possible mortgage options, property taxes, and any repairs that the home may need. These things are usually not disclosed online. A realtor can also orchestrate negotiations for the price which technology, even as advanced as it is cannot do.
Lastly, a realtor is there to help you with the entire home buying process. Testimonials tell us that there are a lot of challenges in home buying. A realtor is there to understand, encourage, and support us with all of the paper work, legal terms, financing, closing, etc. They are essential in making our dream home a reality. In short, with a realtor we can prepare, save, and complete our home purchase.
So even with the rise of technology, a real estate agent is still more effective than a computer. Of course, the use of both is most effective. Realtors should partner with technology to manage their listings and time so that they can serve homebuyers in the most time and cost efficient way. This would definitely boost the agents’ success.
It is vital for realtors in this day and age to be fully armed with the latest in technology. The problem is that most realtors do not have the time to educate themselves in the ever-changing ways of technology. The realtor has to manage his time effectively and be "out there" showing homes, talking to clients, building relationships and selling homes!
This is where a virtual office assistant can be a major help. Virtual assistants have many areas of expertise in the real estate field. They can take the stress out of your time management by taking your calls, managing your online portfolio, social media marketing, preparing BPO reports, managing your bills and reimbursements, home repairs, preparing spreadsheets, presentations, reports and many other tasks that you just do not have time for.
A virtual assistant can do just about any task that you need done, with less overhead cost than an in office assistant. To find out more about what a virtual assistant can do to help you achieve your goals, please feel free to contact us.
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Real estate is a highly demanding industry. Running an agency or even an independent practice can take a huge chunk of your time. From paperwork to renovations, open house, and promotions, running a realty company can be overwhelming. Why not focus efforts on enhancing your core competencies and leave the paper work to a real estate virtual assistant? Normally an independent online contractor, a VA serves as an administrative assistant via the Internet. Some of the top reasons why hiring one will be beneficial for you are the following:
Constant Update on Database
Connections, contacts, and informative data are important in running a real estate business. Your list can exponentially grow vis-à-vis your performance. Most realty agents require hundreds, if not thousands, of contacts to be regularly updated as their client list grows. A virtual assistant can manage your client and information database to ease your way in accessing significant information needed when selling or buying properties. Your VA, for example, can send out newsletters and other promotional paraphernalia whether online or offline.
Enhanced Online Presence
Technology is crucial in today’s real estate business. People no longer just rely on word-of-mouth recommendations. They troop online for information, and this is where real estate virtual assistants come handy. VAs can generate a website or blog site for your business, foster online presence for your business to generate much-needed traffic, and to provide timely updates. Your virtual assistant ensures that reliable content, whether for information or promotion, are kept up-to-date and useful to target audience. He will upload pictures and update old listings, place new properties for sale or lease, and so on through an online site.
Some virtual assistants also provide online press release and SEO service to their clients. Each time new properties are up for sale or for rent, they can create tech-savvy content that will capture searches online. With technology going more mobile and socially adept nowadays, these real estate virtual assistants ensure that apps and platforms are created to generate more interest on your realty business.
Assist on Administrative Duties
Selling, or even renting a place, is not a piece of cake. Contracts need to be formulated, updated, checked and rechecked to ensure its validity. Selling or buying, for instance, can be a rigorous procedure while the negotiations have not been closed. A virtual assistant keep track on inspection details, appraisals, and provide updates to client. She also arranges schedules for property visits, open house, and other notices related to closing a deal.
Cost-Efficient and Flexible Management
When it comes to labor costs, real estate virtual assistants prove to be very cost-effective. Most VAs are paid on a per project basis or as based on the actual job performed. A real estate agent can also choose which responsibilities he wishes to tackle on his own, and delegate to virtual assistant areas of concern beyond his clout. Virtual assistants can perform duties that maybe beyond your experience and comprehension, of which she has expertise and experience.
If you are interested in procuring the services of a Real Estate Virtual Assistant, you can check out our website over at PAMsVAs so that we can answer questions about hiring a VA or if this option is something for you.
Have you considered working with a VA? Are you looking for a way to effectively work with your real estate virtual assistant? Real estate is a highly demanding and volatile business. More than half of the bulk is focused on organizational and administrative tasks. As time is of essence in realty dealings, a virtual assistant can come handy to guarantee viability and efficiency from start to closing. Though most real estate agents know the significance of having virtual assistants in this age of online technology, knowing how to effectively work with one is another matter that needs close scrutiny. To give your labor cost the most incentive, here are great tips to realize the true power of your chosen VA:
Identify Duties to Delegate
There are a myriad of tasks involved when dealing real estate. Though essential, some of these tasks do not really need your expertise but still can get a huge chunk of your time and effort. Paperwork compilation, for instance, can be taxing yet, these are important to validate your dealings. To get the most of your labor cost, it is imperative to know what responsibilities and tasks can be delegated to your chosen virtual assistant. It is best to note that virtual assistants do more than just administrative tasks. They can also do market research, financial accounting, and write blogs and SEO-savvy content.
Elaborate on Scheduling and Training
Establish a process for your virtual assistant. Train them to give their best potential and let them familiarize how you do things around. Real estate can sometimes hold sensitive information, and laying down confidentiality clause must be done. Best of all, it is essential that you set ground rules on how reports and paper works must be handled.
Be Updated With Technology
Majority of virtual assistants are found online. Technology is one great help in connecting with them, and keeping yourself adept with such can help forge steady communication and collaboration. Use apps and software to delegate tasks and connect with your real estate virtual assistant. Backup data through cloud software is a common practice nowadays for easy access and security.
Keep Steady Communication Flow
Highly legal in nature, real estate dealings require focus and consistency. The need to connect on a daily basis is essential especially when trying to negotiate or close down a property deal. Make sure that you have the necessary platform and back-up communication. This is to guarantee efficiency of results and easy monitoring of progress. Keep in mind that you might be dealing with a real estate virtual assistant from as far as the Philippines or Australia. To guarantee results, enforce effective communication lines.
You can check us out at http://pamsvas.com/ for more information regarding real estate VAs.
You can check us out at http://pamsvas.com/ for more information regarding real estate VAs.
You can buy real estate on Craigslist, or straight from a Facebook page. You may even buy one from someone you know or from a friend of a friend of a friend. There are, indeed, a lot of ways to buy a new property directly that the thought of not tapping a friendly real estate agent can be taken out of the picture. But is it wise?
Not As Simple As You Think
In this day and age, buying a property without the help of a real estate agent may sound appealing. You can strike a deal on your own and simply be done with it. But buying real estate is not as simple as going to Target and picking out the latest HDTV or a pair of laced-up boots. It requires due diligence and tons of paperwork. With the staggering amount of money involved, it is only imperative that you understand the common pitfalls people encounter when buying a real estate property without the aid of a realtor.
Not Reading or Understanding the Fine Print
One of the most prevalent mistakes in buying a property on their own is not thoroughly reading and digesting the fine print of the purchase contract. As a rule, purchase contract is essential on real estate transaction to warrant its veracity and legality. There is no room for verbal agreements in a real estate buy-out, even when dealing with a family member or a next-door neighbor-friend. A purchase contract is usually prepared by the seller with the aid of a lawyer. If you have no idea about legal jargons, consider hiring a lawyer or have a real estate agent do the dealings for you.
Not Safe for Your Earnest Money
In most real estate transactions in the US and the UK, earnest money deposit is usually given to secure or put the property on reserve for you. Some people call this reservation fee while others call this initial down payment. This can be very misleading and can put a huge dent on your financial coffers should the deal turn out to be a dud. To guarantee that you put your money right where it’s due, an escrow company is a wise option but having a real estate agent to handle it for you would be so much better as they can easily connect with a title company to keep it safe.
Big Room for Complacency
Unless you have complete firsthand information about a real estate property, it is imperative that you do earnest ocular inspection. Some buyers, however, in their eagerness to buy from someone they are “familiar” with tend to be complacent. A real estate agent usually gives full disclosure on a property to protect their reputation in the market. Through them, you can gather “black-and-white” information about the property and assess it from there.
The risks can be quite high when buying real estate on your own. This is even more so when you rely so much on buyer-seller trust and relationship factor. When it comes to money, remember these words: it is a jungle out there and you, the buyer, are always the unsuspecting prey. If it is a real-deal hassle-free investment you want, have a professional and trustworthy real estate agent to seal the deal for you.
Wherever you go, real estate holds a distinctive role in shaping up a country’s economy directly affecting the buyers and sellers in the market. Highly responsive to the law of demand and supply, realtors and independent sellers alike have to keep watch on various factors critical to their income-generating means. With hundreds of thousands, if not millions, of money on the loop, finding time to scrutinize the following critical factors affecting real estate demand will help generate positive results to your planned resale.
1. Current Demographics
The composition of the overall population concerning age, income, migration and population growth is critical. Most home buyers usually consider location as a top priority when researching for home investments making demographics highly critical when it comes to demand and, subsequently, pricing. Florida’s real estate market, for instance, has continually been tagged as a perfect haven for retirement due to the consistent number of baby boomers migrating to the area.
2. Demand Vis-à-Vis Supply of Real Estate Properties
There is no doubt that real estate properties’ supply largely affects demand in the market. As real estate can go through various cycles, so does its demand and supply. When supply surpasses demand in the market, prices can easily plummet. This is what took place in the US real estate market in the last three years or so. As the number of foreclosure rises, price of real estate took a nosedive. If you are in a realty buy-and-sell business, buying low and selling high later on will give bang to your buck. For someone selling a home, this can mean disaster as you will be competing with low-priced foreclosures.
3. Employment Condition
Areas with high employment availabilities are sure-ball real estate buying magnets. Cities usually equated with well-paying jobs can easily shift migration patterns leading to an increase in demand for more developments. Most cities with more employment requirements most often enjoy an upswing trajectory in real estate demand. As a result of this high demand, prices have the tendency to rise, too.
4. Correlating Credit Markets and Interest Rates
Not everyone can buy homes in cash. Most rely on mortgage or real estate loans to buy a property. If interest rate is low, loans can be had at a much lower cost making it highly beneficial for buyers. Low interest rates means easier to acquire loans or credit from financial markets and, subsequently, lower monthly amortization. With this, more demands for real estate will be imminent.
5. The Overall Economy
The health of the overall economy, of course, largely influence sales demand for real estate. A strong economy attracts more jobs and population growth increasing the demand for housing and development. A sluggish one does the opposite as consumer confidence is usually stunted.
When you have a home or a piece of realty and you have plans for resale, it is important to take these critical factors into consideration. Do remember that in real estate, selling a property requires not just efforts but, most importantly, the right knowledge and timing. The perfect convergence of these factors will largely contribute to lucrative sale deals in the market.
Selling a home is not for the faint of heart, whether done privately or via the services of a real estate company. It takes time, effort, and deeply thought-of strategies to enhance your chances of snagging the right deal in the market. A quick sale is good, but one that comes with sure profits would be much better. One way to ensure a quick profit-making sale is by organizing a home staging initiative accordingly.
Significance of Home Staging
Staging a home is one lofty preparation of your abode prior to its presentation to the market. Its main objective is to make a home more appealing to more prospective buyers in the shortest time possible. Here, a homeowner or a realtor will get rid of the obvious flaws of a home such as clutter, defects and any sign of dilapidation. It systematizes clean-up, repairs, or home improvements to further enhance the overall aesthetic appeal of a property. From interior to exterior, home staging will make a potential buyer envision the property as her own.
Important Areas to Consider
Staging your home largely depends on your budget. If you can afford major improvements, then, the better leverage you have over its selling price. However, a limited budget is quite common among homeowners selling their homes. With this, it is wise to focus on areas that directly influence first impression of a buyer such as the landscape or exterior aesthetics, front entrance, kitchen, bathroom, masters’ bedroom, and living area.
Don’t Just Clean, Manage Your Clutter
Cleanliness is a must when it comes to home selling. A buyer love spotless properties. From bathroom tiles to kitchen countertops, ceiling, and toilet bowls, it is your goal to make every nook and cranny immaculate. Of course, make sure to remove unnecessary odors, too. Your favorite garlicky smell might not work with everyone. This is even more so for homeowners who love smoking indoors. Scented candles might do the trick in eliminating unpleasant odors.
When cleaning, consider organizing things like furniture, appliances, and decorative elements to generate ample legroom. No matter how pristine the floors and ceilings, if you have knick-knacks lying everywhere, your efforts are for naught. Sell, store or donate unnecessary stuff. Do not hide these in your closet or garage. Buyers check those, too.
Make An Exterior Space Standout
Does your home have a patio or garden? How about a lawn or a backyard? Let any of this space standout. Repaint your patio furniture or change its flooring. Mow grass on your front- or backyard. Try adding vibrant and fragrant blooms. An excellently defined exterior attracts buyers instantaneously.
Exert Efforts on Defining Interior Spaces
Buyers have the tendency to maximize square footage when looking for the best deal. Increase your leverage by creating fluidity in design and richly designed purpose for its space. Transform an attic into a mini-office or a guest room. Make your garage double as a storage room. Your basement can be an entertainment room or an office. A buyer may not use it with the purpose you have in mind, but this will give him a perspective that every inch of your home is functional.
Play With Paint and Lighting
When thinking of a paint job, keep in mind that colors are highly personal in nature. What could be ideal for you may not apply to everyone. For a limited budget, a repaint using neutral colors will help “de-personalize” a home. To add more life to your new paint, updating interior lighting and fixtures will help enhance its appeal.
Indeed, home staging is of great help in increasing a home’s face value and in quickening its resale. Though preparations are essential, it is important not to invest a lot in the processes involved. By planning carefully the home staging processes, you are guaranteed to get the most bang for your buck.
If you think buying a home is tough, try selling your own. Buying usually gives you due advantage during negotiations, but selling can be more challenging. In real estate, the seller usually takes the brunt of finding the right buyer and facilitating transfer of documents while obtaining a lucrative deal as planned. With much of your time spent on your business or work or an impending transfer, finding time to sell your property in a fast yet productive manner can be best done with a real estate agent in tow. With hundreds of “expert” real estate agents out there, finding one that can deliver what you need can be daunting. But this dilemma can be used to your advantage by simply asking the right questions.
1. Are you an accredited real estate agent in the state where the sale should be done, for how long and how many successful sales have you done in the past 2 years?
It is important to check on a realtor’s credentials vis-à-vis state accreditation, references and reliable sources. Accreditation by the National Association of Realtors would be a plus. Like everything else, experience does matter when it comes to facilitating real estate sales. Though it does not necessarily follow that more established realtors are better than new ones, a realtor’s experience will help you gauge efficiency and turnaround time for property sales. Of course, the number of successful deals complete with references will help you verify if the realtor can live up to the demands of the current real estate market and your expectations.
2. Do you operate locally? If so, how do you plan your sales strategies?
If you are selling a property in Pennsylvania, it would be a total waste of money to spend time and effort with a New York realtor. A real estate agent operating locally usually has enough information on the current real estate demographics, demands, and local marketing solutions to amplify the sale. Make sure to ask how he plans to sell. Dig deep into his marketing tactics, home staging, and other initiatives that quickens the pace of the sale process.
3. What is your selling method?
There are many ways to sell your property using a realtor – auctions, EOI, POA, tender agreement, or direct selling ( i.e, from realtor to buyer). Unless you will be selling your property “as in”, ask carefully if renovations, upgrades o r repairs are necessary.
4. Do you work alone or with a team? Communication method?
A real estate agent no matter how adept in dealing a real estate market should never work alone. Tons of workload awaits them. Whether working with actual or virtual assistants, a realtor must always have a team that does paper transactions, online marketing, and various data management solutions. This gives realtors more focus on his or her core competencies like negotiations, renovations, and arranging an open house. Keep in mind also the communication method and by how frequent. Look for a realtor that provides an open communication line with constant update to his client.
5. How do you charge your commission and by how much?
Normally 3%-5% commission is rewarded to real estate agents but this can be negotiable and can highly vary from state to state. It can also be fixed or according to tiered percentages. Always analyze its impact before signing a deal. Choose one that can deliver great value to your property.
Indeed, selling your home or any real estate property can be an overwhelming experience. Having a capable real estate agent as an ally in this quest is a wise move. By asking these questions, you can ensure finding the right person to entrust your property, way for a quick sale, and more value on your property.
There is no doubt that you want the best deal possible when buying a real estate property. Negotiations are commonplace in the real estate market. But, often, one only thinks about offer-to-buy and counter-offer as their main source of negotiation. You need to keep in mind though that the real estate agent that represents you can only do so much when it comes to negotiations. The best ones provide you with important data on legalities, market trends, and other aspects relevant to the deal but most of the time, your decision is what matters. Your behavior and efforts from the first offer up until closing on escrow hugely matter when buying a property.
Proper Timing
Buying a new home is not a competition. If you try observing real estate agents, they often keep a “likeable” and approachable behavior. The good and experienced ones are often easy to get along with, adept in providing you the right information at the right time, and are easy to talk to. When negotiating to buy a house, mimic how realtors behave. Be nice and careful without being too finicky. Taking an aggressive posture when negotiating will lead you to nowhere. Rather maintain your composure and likeability when releasing every piece of information just at the right time. This will not only earn the respect and trust of the seller or realtor you will be talking to but also gives more competitive advantage on your position in the midst of the transaction.
Appropriate Valuation
Buyers are always aiming to acquire a house or property at the least price possible. However, when you go on a preliminary offer, it is imperative that you are aware of the current housing market in the particular locality where you plan to buy a home. Here, the knowledge and expertise of your real estate agent can be of great help. Keep in mind that you would not want to risk insulting a seller’s asking price by offering too low. This will only make the seller evade further negotiations. A real estate agent’s advice on proper valuation of property would come handy. Negotiation built upon verifiable data usually works big time.
Home Inspection
To give you leverage, a certified home inspection must be done even if preliminary offer has already been set with the seller. Unless it’s brand new, there will always be some repairs needed to be done. These repairs or renovations usually mean price reduction.
Continuing Effort
Negotiations when buying a home is not the usual touch-and-go process. An artful way of handling negotiation is by being consistent in your efforts all throughout the deal. A buyer’s continuing effort from offer submission to counteroffer and then to closing of escrow can spell S-U-C-C-E-S-S to your initiative. It is important to always be consistent and focused, never forgetting every action or decision done during the whole process. Be reminded of proper timing during positioning offers and counteroffers while remembering to never get into uncompromising situation or concession without gain.
Negotiating is as common as breathing in real estate. From the start of the transaction to closing, negotiations come in handy on both buyers and sellers. To sellers, the aim is to obtain the most money for their property. To buyers, it is to snag the best property by obtaining the best value out of their hard-earned money. Indeed, negotiations when buying real estate take time, efforts, patience, perseverance, the right timing, and the right attitude—and a reliable real estate agent whose advice is worth in gold.
The Wisconsin housing statistics are in for September of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Wisconsin home sales were very strong in September, continuing the robust pace that has characterized the year. Sales of existing homes were up 15.8 percent in September compared to that same month in 2012 — representing a 13.6 percent increase through the first nine months of the year. Median prices posted similar gains, increasing a very solid 6.7 percent in September relative to September 2012 — an increase of 7.8 percent year to date compared to the first nine months of 2012. Home sales have now been up for 27 straight months and median prices have consistently grown in all but one of the past 19 months.
“As we move out of the summer selling season, this growth in home sales is remarkably strong and shows signs of growing even stronger,” said Steve Lane, chairman of the WRA board of directors. “We need to remember that this growth in home sales is occurring even as mortgage rates are up by almost a full percent compared to where they were this time last year, and state job growth has been modest at best,” he said.
All regions saw their existing home sales grow by double-digit margins in September, compared to September 2012, with three regions increasing more than 19 percent, and the remaining three in the range of 11 to 15 percent. The areas with the strongest growth in September were the Central region, which was up 21.7 percent relative to last September, followed closely by the North and South central regions, which grew just over 19 percent for the period. The West region increased 14.9 percent; the Southeast grew at 14 percent, and the Northeast region increased 11.5 percent over the period.
Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. September was no exception.
I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Home Listings for Sale to search for current properties listed in the Janesville area or visit Madison, WI Homes for Sale for MLS Listings in the Madison area.
If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:
What's My Wisconsin Home Worth?
Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.
Housing Statistics for the State of Wisconsin:
September 2013
Home Sales: 6,026
Median Home Price: $144,000
September 2012
Home Sales: 5,202
Median Home Price: $135,000
Housing Statistics for Dane County, WI:
September 2013
Home Sales: 562
Median Home Price: $215,000
September 2012
Home Sales: 450
Median Home Price: $203,600
Housing Statistics for Rock County, WI:
September 2013
Home Sales: 174
Median Home Price: $114,500
September 2012
Home Sales: 166
Median Home Price: $101,000
View my report from last month. Wisconsin August 2013 Housing Statistics
Just Sold! 1303 E Koshkonong Dr, Milton Wisconsin 53534
We are happy to announce a recent home closing in Milton, Wisconsin. Although, this bank owned home may be a tear down, the lot and location really were ideal. Being just steps away from Lake Koshkonong made this REO property a super buy, listed at just $34,650. Congratulations to our Rock Realty buyer, Keith! We can't wait to see what you do with this great lake lot in Milton!
If you are thinking of selling or buying a home in Wisconsin, our home buyer specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625. We are a full service real estate brokerage.
OTHER ARTICLES
- Getting Pre-Approved for a Mortgage Before Looking for a Home
- First Time Buyers: How To Wade Through Real Estate Lingo
- What’s Just as Important As Location When Choosing a Home?
- 10 Things that are Good to Know Before Buying a Home
- Tips for your first Home Inspection
- Tips for Purchasing a Foreclosure
- Tips for Picking the Right Wisconsin Home
Deciding on renting out your home or condo is no easy task. It requires patience and perseverance, and a lot of responsibility. You do not just find a tenant and let it be. You need to ensure that you obtain the right person to rent out your place at a rate you specify. However, if you play your cards right, renting out your place and becoming a landlord can be rewarding and a good way to make money without selling your real estate property. For first time landlords, coming prepared requires that you do your homework before renting out your property. To get your wheels turning, here are some important renting-out tips to guide you by.
Tip #1 – A Well-Prepared Property Attracts Numerous Renters
It is important to comply with required standards as prescribed by the law such as structural repairs, adequate ventilation and heating, safe electrical system, and other stipulations. Keep in mind that well-kept properties often get the highest nod among potential renters and, often, earn huge respect, too.
Tip #2 – Learn Your Landlord Obligations Properly
There are stipulated obligations required from landlords. In most states, the need to register your property for tenancy is essential for tax requirements. One of your main responsibilities, however, is to ensure that your tenant have a safe and functional living space. This means your rental property must have passed the specified standards stated by the federal and local housing code. This means plumbing, electrical and structural system, lighting, ventilation, and security systems must be in place. Repairs and maintenance must be shouldered by you, thus, when reimbursable when paid by your tenant. Keep in mind to give adequate notice of termination when you plan to cut-off the lease on your property.
Tip #3 – Learn About Your Rights
Never go to war uninformed of the terrain. As important as your obligations, you need to also know about your rights. This means receiving correct rent on stipulated due date, receiving added charges according to lease contract, annual review of rental contract, be informed of damage or any problems in the property, and subsequently, be given due notice on any planned repairs or home improvement. Protect your rights by putting this into writing. As a rule, make sure to have a valid contract before setting out a lease on your property.
Tip #4 – Always Check Tenant’s Payment Ability
Of course, your priority is to gain substantial income from your hard-earned investment. It is wise to check if your tenant can pay-up your rental rate. A reference from previous landlords or employers is a wise move. If you plan to accept students, call in the attention of parents or guardians as guarantors for the lease.
Tip #5 – Better Be Insured
Consider having a rental home insurance. This ensures that your home’s structure, medical expenses, legal fees and loss of rental income is covered when needed. Encourage your tenants to buy an insurance suited for them as renters, too.
Tip #6 – DIY or Professional Real Estate Agent
Advertising a rental property on your own may sound a noteworthy job but it can also be quicksand if not handled right. For first-time landlords, having the assistance of professional real estate agent can help cut down cost involved while increasing your chances of finding a tenant quickly and efficiently. Most real estate firms or independent agents usually do background checks on potential tenants to protect their reputation in the market. If possible, choose one which can also perform managerial functions for your property.
Renting out your home for the first time can be both exciting and overwhelming. This, however, is one lucrative deal that you should not miss if you have a house, a condo, an apartment or even a room to spare. In all these, having a professional (attorney, accountant and real estate agent) to give you sound advice and point you to the right direction will ensure great rewards.
Are you planning to sell your house or apartment? Would you like to know what can help boost your resale incentives? If you have finally decided to list your property up for resale, you might be inundated by friends or work colleagues on undergoing notable changes to boost results. Though some people may find it easier to sell their homes “as is”, this idea does not apply if you want to gain more out of your hard-earned investment. You do not really have to spend a fortune if you wish to increase the resale value and appeal of your home. All you need to do is exert efforts and a few bucks to guarantee a resale that will put a huge grin on your coffers.
1. Standard Repairs
Aside from location, size, neighborhood, number of bathrooms and bedrooms, and so on, it is important that your property is comfortable and functional. You need to ensure that structure, plumbing, electrical, security system, and other crucial parts of the home are safe and sound. Carefully assess any broken outlets, chipped or cracked tiles, defective electrical and HVAC system, infestation, and other parts of your property. It is your ethical responsibility to sell a home that is functional and serviceable. In cases of serious repairs needed, a professional is one that guarantees a topnotch job, unless you are a master in do-it-yourself.
2. Organizing Clutter
This may sound tedious at first but, when done right, can give your home a creative facelift without spending a lot. There are many ways to organize clutter nowadays. You can put into storage any unnecessary items which might disrupt a potential client’s interest. You may indulge in simple clean-up but when it comes to de-cluttering, you might want to check out various storage systems nowadays that deliver astounding results.
3. A Paint Job
Paint plays an important role in a home’s curb appeal. It is the very first impression that draws interest from potential clients. If you believe that your home is in dire need of a fresh coat of paint, slap both interior and exterior with a can or two. You may engage in DIY if you have significant experience. Just make sure not to become tacky with wallpaper, odd colors or bad flooring design. When you are not sure, better seek out a trusted local paint contractor to handle the job. Some also have a lot of vinyl siding now. It might be good to paint the exteriors or power wash them to ensure clean appearances for when clients come to view the property.
4. Add a Garden
You can prettify your back- and front yard with a garden. Mowing the lawn can prove to be an exciting chore to both men and women nowadays. A garden full of flowers makes a lot of difference. For small –spaced abodes, AeroGardening or simple recycled container gardening would suffice.
5. Take Note of the Kitchen and Bathroom
Be extra watchful of your bathrooms and kitchen. These areas are becoming highly considered focal points of a home. You might want to invest on new sinks, countertops or cabinets. Replace those with significant marks as this can easily distract a potential buyer.
6. Raise the Roof
Repaint, repair or replace? Carefully assess the problem on your roof. A professional roofer can easily pinpoint essential initiatives that must be done to ensure zero bad credit.
7. Update Security System
Last but not least, make necessary updates on your home’s security. Nothing beats a house that is not only well-kept but also fully secured. Homes with foolproof security system, often, acquire great interest.
The Wisconsin housing statistics are in for August of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
Home sales and median prices both grew at a healthy pace in August, continuing the hot real estate market in Wisconsin. Existing home sales were up 13.7 percent in August compared to last August, closing out a very strong summer for home sales and 26 straight months of sales growth. Home prices showed similar strength with the median price rising 6.3 percent to $152,000 in August. Median prices have been up 17 of the last 18 months.
“This has been a very strong summer for home sales, which is important for a state like Wisconsin where there are strong seasonal sales patterns,” said Steve Lane, broker with First Weber Group REALTORS® in Stevens Point and the new Chairman of the WRA board of directors. "We started the year strong, and we’ve carried that momentum through the summer, which bodes well for the remainder of the year,” Lane said.
Existing home sales were up in every region of the state, with five of the six regions growing by 9.9 percent in August compared to August 2012. The area with the fastest growth over August 2012 was the Central region, which was up 23.2 percent. Also up by substantial margins were the South Central, increasing 18.4 percent, and the Southeast, growing 14.5 percent compared to August last year. The West was up 11.1 percent, and the Northeast grew 9.9 percent over the period. Finally, home sales in the North were up 5.6 percent compared to last year.
Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. This summer and fall has been really hot for the properties that are priced right!
I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Homes for Sale to search for current properties listed in the Janesville area or visit Madison, WI Homes for Sale for MLS Listings in the Madison area.
If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:
What's My Wisconsin Home Worth?
Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.
Housing Statistics for the State of Wisconsin:
August 2013
Home Sales: 7,608
Median Home Price: $152,000
August 2012
Home Sales: 6,643
Median Home Price: $143,000
Housing Statistics for Dane County, WI:
August 2013
Home Sales: 900
Median Home Price: $219,900
August 2012
Home Sales: 690
Median Home Price: $212,700
Housing Statistics for Rock County, WI:
August 2013
Home Sales: 199
Median Home Price: $107,500
August 2012
Home Sales: 191
Median Home Price: $105,500
View my report from last month. Wisconsin July 2013 Housing Statistics
These home renovations tend to not pay back your investment.
- photo credit: Jeremy Levine Design via photopin cc
Home investors have to walk a very thin line in their prospecting and repairing. They want to find a home that others have ignored due to necessary repairs and updating. However, they don’t want to waste money on improvements that simply look nice but fail to increase the home’s overall price. Here are the top renovations that do not add much value to the home.
Grandiose Landscaping
Potential buyers will appreciate a well-kept lawn and may be somewhat attracted to a nice flower bed by the front door, but elaborate landscaping will not add to the home’s price. Even worse, if the prospective buyer has no inclination to spend hours in the yard weeding, fertilizing and replanting then you may actually scare off a few buyers. A simple lawn with low maintenance bushes are the best bet for most homes.
Pool
A new pool is extremely expensive and you may not recover even half of your investment when the property sells. The average home buyer looks at the pool as a major expense and a potential problem in the form of injury or a lawsuit. Some contracts in recent years have actually been structured to include filling in the pool with dirt and sod just to avoid potential problems.
Carpet throughout the Whole Home
It can be rather expensive to replace the carpet in an entire home. Additionally, styles and preferences change over the course of time and homeowners may wish to have a more updated look in the home. The need to replace a large amount of carpet sometime in the next 3-5 years would likely be daunting for most homeowners. A better bet is to have hardwood and tile in the home. They are easier to clean and most people appreciate the simple upkeep. Although the initial investment in hardwood or tile is more expensive, you are more likely to get a greater amount back when you sell the home.
More Home than the Rest of the Neighborhood
One of the fundamental basics of flipping homes is to search for a property that conforms to the neighborhood. Never buy the absolute biggest home or the smallest home in the neighborhood. They will be harder to sell. Along the same thought process, never add more to a home that will make it vastly different from the neighborhood. If all the properties on the street are single story homes then it makes no sense to tack on a double story addition. Stick with the norm for the neighborhood in order to be able to move the property quickly.
Expensive Cosmetic Features
Some people like to brag about the Italian tile in the kitchen or the gold chandelier in the dining room when they are working on a remodel. However, these expensive items add little to the value of the home. It is better to make sure the home has plenty of lighting, has ample space and that the closets and cabinets are well organized. Those expensive add-ons can be purchased by the next owner.
Basically, the best improvements you can make to an investment home are the ones that add function and space. Anything else will simply be for show and potentially cost you too much in the long run.
A lot of changes have taken place in the last two years in technology. Along with these changes, real estate professionals are also busy finding ways on how to communicate effectively with clients and to keep track of a highly competitive and volatile market. Luckily, there are modern gadgets and apps that have been developed to serve every facet of their operation. To give you a head start, here are some of the newly updated gadgets and apps available on the tech market today designed specifically to serve real estate busybodies.
Gadgets You Should Not Miss
A Tech-y Desk
Most real estate agents have offices at home and having a 40-inch touch-screen that you can easily tuck on your desk is one great option. EXODesk allows you to connect, view and operate virtually any computer on either Windows or IOS platform. Apps can be added to suit your business needs.
Tablet Computer
Mobility is your game. Instead of buying a separate computer for home use and laptop or tablet for mobile use, buy one which features both. ASUS Transformer AIO P1801, for instance, works as both a PC and a tablet. It also has a dual operating system to serve its purpose.
Wi-Fi Camera in 3D
You will be taking pictures of homes to sell and what better way to do it than in 3D. Samsung NX300 features not just pixel-perfect results but also the ability to connect to a Smartphone or computer automatically sending photos in a click.
Smartphone and Accessories
Regardless of the size, a Smartphone is an essential gadget that realtors should not work without. This keeps your communication line open for clients and colleagues, and also doubles as your gateway to the Internet. Have a ChargeCard and DeLorme Inreach ready, too. The former gives you an extra charge for your battery while the latter serves as your satellite device when no signal is available.
Portable Scanner
As a real estate agent, titles and other documents are crucial in your transactions. A mobile scanner like that of Xerox comes handy. It can easily convert paper documents into PDFs or JPG files and then, sends these documents directly to your recipient via wireless contact.
Be Watch-ful
No matter how busy, you can always check for your email and phone calls through your “smart watch”. This watch allows you to tell time, retrieve emails, dial phone numbers, and go through social network updates.
New Apps to Consider
Every day, new apps are being developed for public consumption. For realtors, here are some of the current ones worthy of praise:
1. DocuSign - for digital signing of legal documents
2. Magic Plan – creating floor plan in a snap
3. Google Apps – Gmail, Calendar, Google+, Maps, Chrome, Google Drive, and more.
4. Dropbox – for back-up and storage
5. Sitegeist – great tidbits on people and housing, weather, and so on
6. DreamScore – access to local MLS listings
7. DreamPro – search app designed for realtors and brokers
8. Casmy – gather open-house info in real time
9. Open Home Pro – creating listings via phone
10. HomeSnap – take a picture of a home then, find out its market value, bed and baths, taxes, access to schools, hospitals, and so on.
In the months and years to come, more and more tech-y gadgets and apps will be introduced to the real estate arena. You need to keep your eyes open for these changes and updates. In a highly competitive industry like real estate, your chances can be determined by how well equipped you are.
There is no denying the fact that technology has continually shaped everything that we know of now. Aside from affecting consumerism, one massive impact is continually being felt in the real estate realm. Today, real estate agencies are becoming more visible online. The Internet has become a huge factor in advancing its clout even when goals and objectives are locally concentrated. From virtual assistants to interactive websites, iPads and SmartPhones, and needed thingamajigs, “tech-cessorizing” your real estate wardrobe is no longer just an option but a must.
For a real estate agency to standout in a highly volatile market, these tech-savvy tips must be carefully considered to ensure productivity, reliability, transparency and sustainability.
1. Perfect Fusion of Quality Content and Visual Design
Having an online presence is a must but the clamor does not just stop in creating a website. In order to entice potential buyers and sellers, the need to project a visually captivating web design with reliable and trustworthy content is essential. In the last two years or so, data provided on realtors’ websites are experiencing major overhaul. It is no longer just an attractive website but one that is search-engine and mobile friendly, artfully integrated with social media and blogs, easy importation of listing from MLS, and equipped with special scrolling technique that eases the use of a potential buyer or seller.
2. Going Mobile
Another significant impact in today’s high-tech realm is the continual updates on gadgets. Real estate agents, in their need to be competitive and up-to-date, must come geared with necessary tools and equipments. This is the reason why most realtors nowadays are tied up with their Smartphones and Androids, tablets and laptops, Bluetooth, hands-free headset, GPS, and so on. Communication, time management and research are critical aspects in real estate, and these tools give them wide-ranging avenues to pursue their objectives. Meeting up clients, explaining a home-buying process, making follow-ups on payments, updating oneself on current real estate market news and trends, and so on, are now geared for more mobility alongside the continued rise of portable digital technology.
3. The Rise of Cloud Computing
Cloud computing solutions have become a standard norm in many up-and-about real estate firms and independent players. This practice allows expansion of your office while reducing overhead and going paperless. This ensures that agents, brokerages, clients, and potential buyers or sellers gain access to software and documents online regardless of where and the devices used. When it comes to cloud computing, however, there is no such thing as a “fit-all” design. You need to carefully assess your market, work style, and other important aspects that make your business unique than the rest. This also gives rise to the success of real estate virtual assistants.
4. SEO, Social Media and PR
If you have been told that social media is everything, not anymore. Today’s online marketing aspect no longer just focus on social media platforms but rather on the integration of SEO, PR and social media. As most real estate firms, agencies and independent players become more attuned to using online platforms, keeping tabs with highly sophisticated algorithms require more qualitative content, transparent social media marketing, and targeted PR to keep your authority high.
Indeed, the continual integration of technology in real estate management and transactions has made management and tracking much easier. Technology puts them in a powerful position to initiate, compel, and put communication with their target markets on the right track. With easy access to free data on customers’ needs, purchase behavior, and concerns as well as expectations, this gives real estate agents the needed competitive advantage to provide better service and increase sales.
Looking for a great real estate investment? Why not take a closer look at REOs? A prevalent term in real estate, REOs are considered sought-after properties by realty investors and independent home buyers who wish to get the most value out of their hard-earned money. When thinking of expanding your investment nest egg or when looking for a home to buy, it is imperative that you know what you are getting into before signing that deed. Stay on this page, if you want to know more about REO, its benefits, and where to easily find them.
What is REO All About?
In actuality, REOs are properties which have been foreclosed and turned over to banks or financial entities after it fails to be sold in a short sale. Properties usually include single or multi-family abodes, farms, commercial spaces, and vacant lands and buildings. Most foreclosed homes have attached creditor and tax liens, and sometimes, in need of substantial repair. Through REO arrangement, these attachments can be “cleaned” by the bank or financial institution to make the property more saleable. When repairs needed are substantial, banks usually sell these properties “as is” making it a favorite among prolific do-it-yourselfers looking for money-saving investments. Take note also that banks and lenders sometimes refer to REOs as “bank-owned” properties or simply “available properties” on their website.
Benefits of Buying REOs
Property buyers are predominantly interested in the money they can save from buying a Real Estate Owned property. If you care to check the current real estate market, it is understandable that most REOs are priced or listed sitting just within 10% below current market value. This, however, depends largely on the condition of the property and the amount of repair needed to make it usable and functional. If it is a private home, a buyer would want an REO that is livable and requires less expense on repair. This is no problem though to a home buyer who have great capabilities on DIY as buying it “as is” from a bank or lender can definitely stretch the value of his dollar.
As mentioned, REOs have free title liens and all other claims such as those from HOA, delinquent taxes, and mechanics. It is also generally vacant or unoccupied. This is usually pre-arranged by its previous bank or financial institution owner to increase its marketing and selling power. Think about buying a property with a clean title and no hassles on evicting a previous owner. This gives you enough advantage on not experiencing expensive and time-consuming legal predicaments later on.
Best Places to Find REOs
Predominantly, REOs can be found on bank and various mortgage lender websites. Lucky for those who have contacts, they can easily get good deals from insider information. Today, however, these financial institutions often sell their REOs in bulk or have these properties marketed by real estate brokers with standalone listings on their site. You can check out multiple listings on the net and make use of these sites with their easy-search mechanism. Some sites allow you to filter your search according to location, price range, property type, square footage, and sometimes, number of bedrooms and baths. This somehow saves you time and effort in finding the best property to invest upon. If buying REOs is an entirely new endeavor, working with an REO specialist can be of great help in locating the perfect property for you at a much reasonable price.
We would like to introduce you to our home buyer specialist, Eric Engels, Realtor® | Real Estate Agent serving the Janesville, Wisconsin area!
"Hello Rock County! I am very happy to have joined the Rock Realty team. I have been a resident of Janesville for over 13 years. I lived in the Quad Cites before that living in both Illinois and Iowa. In 2006 I had the chance to move back to the Quad Cites, I thought about it for about 2 seconds, but Wisconsin is the best place to live I couldn't leave. I am a big fan of the Midwest way of living! I am very excited to meet some of the great people in Rock County, and to help them in there home buying and selling needs."
"At Rock Realty we use the newest and most innovative technology to help us in our advertising and researching needs. Please feel free to call or e-mail me with any questions you may have. Again I look forward to meeting the great people of Rock County."
Thanks
Eric Engels
Visit my site to search for Janesville, WI Real Estate Listings:
www.JanesvilleListings.com
(Homes for sale in 53545, 53546 and 53548 and the rest of Dane & Rock County)
Rock Realty Client Testimonials
"We found Mike online, and, due to positive reviews, phoned him with a request to view houses in the Madison area. We gave Mike no more than one or two days notice, but he was happy to devote the whole of his weekend to us. Our entire house-hunting experience proceeded in similar fashion. We were hunting for houses long distance, so we would wait until an opportunity to travel to Madison presented itself, phone Mike, giving him one or two days to prepare, and show up to view houses. The process took roughly one year to complete. It was long and difficult, but Mike was always pleasant, never complained, made an effort to make himself immediately available, and was never pushy.
Mike is not like many real estate agents who simply want to make a sale, any sale. Instead, Mike made an effort to help us make an honest assessment of the properties we viewed, often pointing out problems himself. Mike left us with no doubt of his honesty and his dedication to his clients.
In addition, since we were shopping long-distance, Mike, with some help from his associate Bethany (who we found to be similarly pleasant and eager to be of service), even took hundreds of high definition photos of properties which he viewed in our stead, often with only a single day's notice. Mike, or one of his associates, would then promptly email the photos to us to view.
During the house-hunting process we changed our minds a number of times, imposed last minute requests, and even had some near melt-downs, but, through it all, Mike was responsive, cheerful, and level-headed. We cannot overstate how hard Mike worked on our behalf. We highly recommend him to any home buyers."
Graham S. & Janet H. (Middleton, Wisconsin 53562)
Rock Realty Home Buyer Client
Thanks for the compliments, and Congratulations on your new home Graham & Janet!
Looking to purchase a home in Wisconsin?? Contact Rock Realty! We would love to help!!
A huge boon is being enjoyed nowadays by real estate sales agent from REOs. Notwithstanding the current perks of a revived economy, the fact remains that more and more homes and properties are available for sale from financial establishments, lenders and mortgage companies. These companies normally send request to REO agents to conduct BPOs or broker price opinions. With the amount of time and the quality of information needed, REO agents can sometimes experience a quandary on how to address this demand with insufficient time at hand. Fortunately, today’s online development opened up a new avenue of virtual assistance that is meant to augment the reliability and efficiency of REO and BPO transactions.
Property Valuation Information Gathering
REOs usually require broker price opinion when valuing properties in its current market. This could be for refinancing or when foreclosure is imminent. A lender or mortgage company may require a full appraisal from a real estate agent specializing in REO and completing BPOs. Collation of important data to support this transaction can be performed by a virtual assistant. In foreclosure cases, BPO requests to real estate agents are often required by the lender to come up with a reliable estimate of current face value of the property vis-à-vis its mortgage balance. Solutions are then made after these valuations. Gathering of essential data can be delegated to a virtual assistant.
Lead Generation Support
We all know how cutthroat the competition can be in the real estate business whether REO or not. Real estate agencies and individual agents often have so much on their hands to handle inquiries and marketing tactics. REO/BPO virtual assistants offer reliable registration and asset management follow-up on various banks and lenders. This allows you to gather more sources of REOs for re-sale later on. To aid on these purported re-sales, these virtual assistants can generate lead generation services that usually include pulling or scrubbing of FSBOs, database importation and, most importantly, follow-up calls and setting up of appointments.
Virtual assistant BPO services, however, depend largely on the data provided. Some agents prefer supplying their own data gathered and have VAs provide results via specialized online tools designed to analyze these data. Some real estate agencies or agents also prefer VAs to do their own investigation on various data as provided by banks or lenders.
Managing and Coordination of Transactions
Another important function that real estate VAs with specialization on REO and BPO is in coordinating and managing of transactions involved. This could be in marketing via online avenues, arranging purchase agreements and collation of data during closing. Broker price opinions can vary according to transactions or circumstances involved with a particular property or properties. While a real estate agency or independent agent may recourse to focusing his attention to certain aspects of the business, a VA can effectively give a helping hand in using up-to-date tools for analyzing value of similar surrounding properties and current sales trend in the area. These professionals are also keen in coordinating repairs, clean-up and other arrangements with contractors when getting ready for a property sale.
There is no doubt that today’s REO business is work intensive. For real estate professionals to make it to the top, they must be more driven in terms of efforts and technology. With more and more banks and lenders using online platforms, it is only fitting and practical to make use of technology-driven virtual assistance services to successfully manage voluminous data needed to achieve your goals.
Photo Source: http://www.meridianreaz.com/
Photo Source: http://www.meridianreaz.com/
