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Roosevelt Groves, Largo - We invite everyone to visit our open house at 410 2nd Ave NE on July 23 from 12:00 PM to 2:00 PM.
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Beautiful Yard
• 1,305 sq. ft., 2 bath, 3 bdrm single story - $1,100 Monthly - Rent to Own Available!
Roosevelt Groves, Largo - This great home is a 3 Bedrooms, 2 bath home with a huge game room which includes a laundry closet, wet bar and lots of storage. The home features a large corner lot with fenced yard for the little ones, beautiful walk ways, brick pavers and outdoor lighting. There's plenty of room for children to play and a great patio area for grilling or just enjoying the yard and plantings. The home has tough Nafco flooring which resist water stains and require far less maintenance than normal wood or laminate flooring. This home is a great bargain in a excellent neighborhood close to schools and the library and community center. It's less than 15 minutes to the beach. The home will be available to view on or after July 18th. The owner is a licensed Florida real estate sales associate. The home can also be purchased on a rent to own basis. Email me at Bud@BudCooke.com and ask for details.
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I had a lady call me today and she was asking for another Charles Rutenberg Agents number on on a listing. We discussed her situation and she thought it would be best to go straight to the listing agent. I explained to her that the listing agent is trying to get the most for the home possible for the seller and that by hiring another agents with motivation to do a good job and help her to pay the least, she might want to reconsider, especially since it doesn't cost her more to do so.
While we all act for the good of the transaction, it just makes sense that the bond developed by the listing agent to the seller will cause him or her to want to have a client that thinks he or she did a good job. That agent can certainbly convince the seller that they had no choice but to submit this offer for 85% of the list price they suggested, but in the end, if the seller agrees, what will their opinion of the agent be? Either they sold me on a list price that was unrealistic, or they were not a negotiator for the seller.
Many buyers don't understand how the commission works. They believe by going to the seller's agent, they will get a lower price because there's less commission to be paid. The truth is that the seller agrees to the total commission and in fact pays it. All they end up doing is helping that agent, which has a conscious or subconscious predilection for getting the highest price possible for the home.
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Roosevelt Groves, Largo - The single story at 210 4th St. NE has been sold.
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• 1,476 sq. ft., 2 bath, 3 bdrm 2 story - 
MLS® $156,992 - Priced To Sell
Willow Ridge, Clearwater - Charming home in great central Clearwater location. This elegant 3 bedroom, 2 bath, 2 car garage home on a quiet street features an updated kitchen fresh paint throughout and an almost new 10-2010 A/C system The home is ready to move into and won't last long. 10 minutes to the beaches, 5 minutes to great shopping and easy access to all major Tampabay areas! A quick close is possible. Owner is ready to sell.
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Are you looking for that perfect home for 2011? The search online is just the beginning. Yes, I provide cutting edge tools like ListingBook which can help keep you organized. But that’s just the start.
I’ve bought many homes during my life but the one I remember most was a pool home in Hillsborough County. I looked at some 10 to 15 homes before finding the one I really liked. I tried to keep notes about all of the homes. Most had the same basic configuration, including a pool. However, even pools can have multiple features. One that I really liked was to have a light in the pool because I really like swimming at night. The one thing I didn’t keep detailed enough was the features “features.” I bought a home thinking that it had a light when it did not. I had not lost my mind but good notes would have saved some minor confusion.
Today the market is so saturated with homes that the average buyer wants to view 20 to 30 homes before buying. As a buyer, making your decision will be much easier if you will follow three easy rules.
- Buy and carry a small pocket or purse sized notebook to keep individual notes on each home you see by address. Will the home need repairs? List them. Will you want to measure rooms? List them. Does the kitchen have enough cabinets? Note it. How old is the A/C handler and compressor? Guess it. How old is the roof and are the soffits in good condition? Note it. You get the idea…
- Carry a camera. You take one on vacation to record the memories. Why not take one to the homes you view so you will have those “memories” too? After all, camera film and development is cheap, right? (Some of you will get this!
- When you finish for the day, go to your ListingBook account and record your notes on each listing and mark those that you have decided against as “rejects” and those that you want to keep on your “Short List” as favorites.
You should have evaluated the schools, taxes and local area sales using the tools in ListingBook prior to setting up showings with your Realtor® so this will help you further refine your list. Remember, home sales are picking up and if you have two pretty perfect homes on your list already, they may be gone before you look at another batch of seven to ten homes, just to find a few more perfect homes. And with inflation climbing (note almost $3/gallon gas), interest rates are also edging up. Every increase in the interest rate of even ½ percent will add thousands of dollars to your debt if you are borrowing. It’s wise to be organized. It will save you money!
If you are looking for a home in the West Central Florida area, and you would like to know more about ListingBook or get one of my free ListingBook accounts so you can search like an agent, visit http://www.Buying-Pinellas.com today.
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Diamond in the Rough
• 1,169 sq. ft., 1 bath, 3 bdrm single story - MLS® $67,500 - Fixer-Upper!
Meadow Lawn, St. Petersburg - Great starter home or investment property located in desirable Meadow Lawn. This home is on a nice sized corner lot. The home is close to the park, schools, mall and easy access to Tampa, beaches and other local attractions. The sprinkler is fed by a deep well. ***THIS IS NOT A SHORT SALE!*** MAKE AN OFFER - ALL WILL BE CONSIDERED.
This great home is eligible for a 203k rehab loan along with FHA financing. Check with your lender or mortgage broker for details.
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Hillcrest Estates, Clearwater - Announcing a price reduction on 614 Highland Ave. N., a 2,066 sq. ft., 3 bath, 3 bdrm single story. Now MLS® $175,000 - Reduced!.
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Roosevelt Groves, Largo - Announcing a price reduction on 210 4th St. NE, a 1,409 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $125,000 - Price Reduced!.
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Roosevelt Groves, Largo - Announcing a price reduction on 410 2nd Ave NE, a 1,305 sq. ft., 2 bath, 2 bdrm single story. Now MLS® $95,000 - Price Reduced $20,000!.
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Huge!
• 2,066 sq. ft., 3 bath, 3 bdrm single story - MLS® $180,000 - Low Price For Square Feet
Hillcrest Estates, Clearwater - If you are looking for a home with room for the whole family at a reasonable investment, look no further. This great 2 story Clearwater home has 3 bedrooms and 3 full sized bathrooms. The upstairs master bedroom suite features wood floors, 2 closets (one that is a walk in), and a full bathroom. The living room/ dining room have vaulted ceilings and each of the bedrooms are oversized and have their own private bathrooms. Off the Dining Room are french doors leading out to the family room with a cozy woodburning fireplace. This great home has had many updates during the past 6 years: The AC / Air Handler was new in 2004. The home was re-piped in 2005. The refrigerator with ice maker was new in 2005 as were the microwave, convection oven, and washer and dryer. The water heater was replaced in 2007. This beautiful home is just a short walk to the Clearwater Country Club and only 3 miles to Clearwater Beach. This solid home has hurricane resistant concrete walls and must be seen fully to be appreciated
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Real Estate - Knowing A Real Deal
Property Information Sheet Buds
With so many foreclosure homes on the market, how do you know if that great deal you have your eye on, really is a good deal?
I often work with buyers that want to look at foreclosures because of the low prices. In many cases, the condition of the home frightens the buyer and they get frustrated by what they perceive as too big a project.
The problem in this case involves two areas. First, you cannot be emotional about investment homes. They are simply an inventory for producing income. Secondly, every investor needs to create a project plan and budget. Are you planning to rehab and flip the home? Or, do you plan to make it livable and rent it out. The strategies and their costs for each are very different.
As in any investment, you must get a fix on what properties in average to good condition sell for in the area you are considering. This is called, determining the "fair market value." The place to start this process is with a CMA or comparative market analysis.
Most CMAs are prepared by taking all of the comparable properties and adjusting the values in each to make the home's value based on features, comparable to the subject property. Most Realtors include all of the features but miss one critical element. The CMA should compare not only bedrooms, baths, pool/no pool, square footage heated and garages, but also the condition of each home. I use a scale of 0 to +3. Obviously my wife and I preview a lot of homes. We also get information directly from the listings. My criteria used for establishing my grading system includes, from top to bottom:
3 = Has new or newer (new to 2-3 years old) roof and A/C as well as upgraded kitchen, baths and flooring.
2 = Has either new or newer (new to 2-3 years old) roof OR A/C as well as upgraded kitchen, baths and flooring.
1 = Has been well maintained and has newer items individually. Perhaps the windows and doors have been replaced and a bath upgraded. Generally it just has to be in a condition that shows it is well maintained.
0 = A home that hasn't been upgraded but can be moved into and lived in. One could expect to have to invest money in the near future.
Homes that have roof leaks, heat and air systems that are at the end of their useful lifespan and no other upgrades, should not be used to determine fair market value. I apply the following values to the grading system and make the appropriate adjustments to the CMA:
3 = $30,000
2 = $20,000
1 = $10,000
0 =$0
To determine if the home is a good investment requires that once you determine what fair market value for the home's general area is that you determine a purchase price that will yield the profit you want. The investors I work with normally plan to make a minimum amount of $20,000 after factoring in their time, materials, contracted work and buying and selling costs.
Example:
$100,000 Fair Market Value
-$40,000 - Home cost
-$ 3,120 - Purchase costs
-$30,000 - Rehab costs
-$ 3,250 - Selling Costs
$23, 630 PROFIT
They normally stick to "bread and butter" homes because they sell faster and can yield more profit. A "Bread and Butter" home is normally considered to be a 3 bedroom, block home with more than 1,000 square feet of heated space. The market for these homes is much greater than for smaller homes. Many of these homes are available from $30,000 (or less) and up in the Pinellas County area.
How do you clearly decide what the rehab costs might be? Experienced investors know. They use a form to break down these costs. I've attached a copy of the form I use.
Keep in mind, the calculations for an investor depend on their "exit strategy" or plans for the method of making income on the property. That is information for another blog, but the same strategy can be used for someone wanting to buy a home at a good price and not get burned. As an experienced real estate investor and Realtor®, I use the form for all distressed homes as I do my own investing or when I assist a home buyer or seller.
I'm willing to share. If you are in the Pinellas County area and would like to work with a Realtor® that knows investing and understands making profit on investments, give me a call at 727-459-5460. I can help you, too!
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Meadow Lawn, St. Petersburg - Announcing a price reduction on 7695 17th Way, N, a single story. Now MLS® $75,000 - Fixer-Upper!.
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Great Invester Opportunity
• 1,409 sq. ft., 2 bath, 3 bdrm single story - MLS® $140,000 - New On Market & Updated!
Roosevelt Groves, Largo - INVESTOR OPPORTUNITY!! This is not a distressed property and is priced for a QUICK SALE. This home is currently one of two single family rental homes situated in a compound setting. See MLS #7456370. They are deeded separately with their own tax IDs.It can be purchased alone or with the adjacent property that is located at 410 2nd Avenue. This home has beautiful updates, including kitchen, baths and Nafco wood flooring.(This eliminates many of the maintenance problems of normal 'laminate' flooring) Both properties are well maintained and are currently rented for a combined $2000/month. This property is rented for $1100 and the other for $900. Both tenants are on month to month leases. You can buy one and rent the other OR purchase both and both and save! There is a discount for purchasing both. NOTE: Flood Insurance is not required here! (Flood Zone X)
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Roosevelt Groves, Largo - Announcing a price reduction on 210 4th St. NE, a 1,409 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $140,000 - New On Market & Updated!.
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