Month: February 2018

Reasons Why Your Homes Didn’t Sell

Do you wonder why your home isn’t sold yet? It has been on the market for 6 months already and no one is ringing your phone to inquire. If this is your situation, you have all the reasons to worry. Maybe, it’s time to re-assess the condition why your homes didn’t sell. 

Here are some reasons why your home remains stagnant in the listing: 

  1. You don’t have quality photos

Buyers buy what they like, meaning they will be convinced to “like” your house if they see it. What is the best way to do that? They don’t like to drive a few miles just to see your house personally during the initial stage. What they want is to see are the photos. And not just any photos, but images that depict the uniqueness, quality, features and safety assets of the property. Pictures are eyes candy to the buyers. When the photos get their attention, inquiries may follow next. 

  1. You have an incompetent agent

To sell your beverly hills real estate is the reason why you hired an agent in the first place. But the truth is not all real estate agents are the same. Some are skilled while others are not. Some are trustworthy while others are fraudulent. If you happen to hire agents who don’t care about your interest, your house will stay in the market until it rots. Check what your agent is doing and call his attention if you are not satisfied with his performance. In worst case scenario, review your contract about how to terminate his service and do it as necessary. 

3) Your home lacks curb appeal. 

Your house should look as good as the photos you posted online. The buyers buy with their eyes first. If they like what they see, they will consider buying it. However, if your house looks messy and stinks like a dead rat, no one will like it. Do necessary measures to remodel your house or do some basic improvement. Painting the house new to replace the cracked paints is one simple way to add curb appeal to your property. 

4.)    Incorrect pricing 

Correct pricing is very important to make buyers consider acquiring your house. Take note that when buyers are searching for houses, they already know what their budget is. As much as possible, they will stick to their budget and will only be willing to stretch it after house inspection if they found out that the condition of the property is worth the price. Knowing this fact, you need to identify the right price for your house. You cannot overprice it over other comps and you cannot under-price it either. If you will do the later, buyers will think that there is something wrong with the house that’s why it is being sold at a low price. 

Trick To Finding Your Dream Home In A Hot Market

A hot market usually means high demand and low housing inventory. In layman’s terms, it means more people are looking to buy a house when there aren’t too many for sale. This creates an atmosphere of tough competition among home buyers that anyone who gets to successfully buy a house is considered lucky. Finding your dream home in a hot market is tough but not impossible. The key here is to beat your competition by applying these tricks in finding your dream home in a hot market. 

You have the right connections 

It’s either you hired the right agent or know the buyer too well. In a hot housing market, having the right connections is key as it helps you stand out by being always a step ahead of your competition. You have access to resources and insider information that the other home buyers don’t have access to. This advantage can certainly be applied to pocket listings. Pocket listings are homes put up for sale by owners who want to keep their privacy. Buyers are carefully selected and are usually by invitation only.  Only when you have the right connections that you’d be able to take advantage of this kind of situation.   

You have enough money to make an irresistible offer 

We all know that we need a huge amount of money to buy real estate. It is certainly an advantage if we have enough money readily available to make an irresistible offer while our competition is still getting pre-qualified or pre-approved. You have the chance to move quickly and convince sellers that you are the buyer with the best offer for their property. Sellers would always prefer buyers who can give them the best money for their investments and by having enough cash on hand, it enables you to do just that.    

You are persistent in searching homes for sale 

When competition is tough, you can always expect the houses you’re considering to buy get purchased immediately the moment you make your move. The key for you here is to keep on looking and you’ll eventually find a house without too much competition because others weren’t looking hard enough.  

You added your personal touch 

A seller who gets too many offers will get confused. You have to stand out in order for your offer to get noticed by the seller. A personal handwritten note can almost always do the trick. Tell your story as to why you’re the perfect buyer for his property and if he can relate with you on an emotional level, there’s no way the seller won’t choose you over your competition.  

You always have a backup plan 

Things can always go wrong with any Real Estate deal. If you come in prepared, you’ll know what to do if in case any of your plans don’t work. You don’t lose sight of your goals and you just keep on going until you have successfully bought your dream house in a hot market. 

 

10 Essential Questions for Choosing a Real Estate Agent

It is essential to hire the right Real Estate Agent to work for you. They will play a major role in how well you execute your Real Estate investment goals. Hiring their services is leveraging and taking advantage of their vast resources and network at their disposal. You just need to learn how to select the good ones from the bad ones. You can start by asking them questions. Here are 10 essential questions for choosing a Real Estate Agent. 

Question # 1: How long have you been in this business? 

Hire Agents that have been in the business for around 3 to 5 years. This is to make sure that they know the ins and outs of their profession and can certainly help you navigate the complicated Real Estate transactions. 

Question # 2 – What is your area of specialty? 

Their answers should let you know if they can greatly help you in the kind of move you are going to make in Real Estate. There are agents who work mostly with sellers and there are agents who specialize in helping buyers find the best deals. 

Question # 3 – Do you work alone? 

This question will let you know how he does his work. If he’s with a team or generally works alone. It is up to you what you prefer. An agent who works with a team means they have key persons who have different specializations and expect that you’ll be dealing with the others from time to time. A person who works alone does everything himself. 

Question # 4 – Who were your last 10 or 20 clients? 

You will know who he has worked with in the past and gives you a chance to ask his previous clients for testimonials. If he hesitates to tell you who his past clients were, he may be hiding something. 

Question # 5 – How do you communicate with your clients? 

This will give you an idea how he updates his clients and how you can easily reach him for any questions or clarifications. Consider the agent who meshes well with how you communicate yourself so you’re on the same page at all times.  

Question # 6 – How much can I sell my property for? 

Ask this question if you’re looking to sell your property. It will let you know how well he knows how much similar properties have been sold recently. 

Question # 7 – What type of property can I buy within this budget range? 

Ask this question if you’re looking to buy a property. Knowing what you can buy with your budget will let you know if he can help find the best deal for you. 

Question # 8 – How do you deal with difficult and demanding clients? 

This is a tough question that you must ask to let you know how he handles himself around difficult situations from working with very demanding clients. 

Question # 9 – How will I know that you’ll work for my best interests? 

Knowing that the agent has no hidden agenda or conflict of interest sets the tone right for your business relationship.  

Question # 10 – Any questions for me? 

It’s time for him to ask you if he has anything in mind and a chance to negotiate so it’s a win-win situation for the both of you. 

 

 

Buying Real Estate in Nicaragua

The first step to shopping for real estate in Nicaragua is to forget everything you know about the process back home… no matter where home may be.

Let me make one thing clear from the start. There are incredible bargains to be had buying property in Nicaragua. In fact, there is no other market in the Americas where insisting upon a 40% return on investment or better is reasonable. However, there are few similarities between the rules and regulations governing the real estate industries in North America or Europe, and Nicaragua. It’s because of this lack of similarities that foreign investors often get into trouble. There is a preconceived notion on the part of foreigners that the Nicaragua real estate industry is as carefully regulated as it is elsewhere, and it is this incorrect assumption that sets foreign investors up to be cheated. The only universal real estate investing rule that applies as equally in Nicaragua as it does anyway else is Caveat emptor, buyer beware.

Real Estate Brokers

Basically there’s no such thing in Nicaragua as a real estate brokerage that a Canadian, American or European would assume the term represents. There are real estate brokerage offices. Some even have familiar franchise names, but that’s where the similarity ends.

There is no mandated, formal training of real estate sales people, nor are there specific licensing requirements. Anyone can become a “realtor” by paying for a merchant license or incorporating a Nicaraguan company. I’m not suggesting this means “all” real estate sales people are incompetent or untrained… many are. In fact, there are a number of retired realtors who relocated to Nicaragua and maintain successful, upstanding businesses. However, there are many more who are not at all competent, and operate on the razor edge between honest business and outright fraud. Caveat emptor again!

There is no district or federal regulatory boards governing the real estate industry in place. Real estate sales are no more regulated than a vehicle sale transacted by a street vendor. Outright criminality is not ignored by authorities, but having the perpetrator jailed is unlikely to result in recovery of any money lost. The revenge should make a fleeced buyer feel better though. Nicaraguan jails exist to punish criminals, not rehabilitate, and they are Hell on Earth. Unfortunately though, most issues that can arise in a real estate transaction are considered civil matters by law enforcement and have to be treated as such. In short, whatever money you think you were cheated out of… consider it lost. Even with a judgment in the plaintiff’s favor, collecting money owed in a judgement rarely happens. So again, caveat emptor.

Money-making investments in the real estate

The real estate market is one where a profitable investment is always to be found; somewhere amidst the foreclosure lists or lying dormant on a real estate agent’s desk. This guide aims to give you the background necessary to allow you to find profitable investment real estate.

The first key to profiting from real estate is to find a highly motivated and urgent seller. The idea is that to negotiate a lower price on a piece of real estate requires the seller to want to sell their house quickly or desperately. If you are talking to an unmotivated seller on the telephone then it will soon be very clear that you are not going to get a discounted price on this real estate. If the seller is unmotivated then you will be unable to negotiate a lucrative deal.

One counterintuitive aspect of real estate investment is that you normally make a profit when you buy real estate and not when you sell it. This means that, while there is often little you can do to increase the value of real estate; sellers are human and are often willing to negotiate their price. Saving money while buying real estate is the key to selling homes for a profit in the real estate market.

With that in mind, your first step is to develop a list of real estate properties that you are considering investing in. You are going to need to view around ten pieces of real estate before you careful choose which one will be your chosen investment.

One useful technique for sourcing profitable real estate properties is to interview real estate agents; the people that profit from real estate on a daily basis. Interviewing a real estate agent and finding out if they own any investment real estate they would be very useful. Remember, they will be more than willing to be interviewed because you are offering them your regular custom.

Real estate agents understand the market “inside out” and can be an excellent source of investment properties with low prices because others have not seen or understood the potential of them. After you create a good relationship with some local real estate agents you will typically receive a phone call every time they notice a good property reach their desk. Remember, they receive a lot in return for this relationship because the more real estate that they sell the more commission that they earn.

Another very useful method for sourcing great real estate deals is the use of foreclosure lists. All you have to do is to search Google for “foreclosure lists” in your local area. Typically, you will have to pay a subscription fee to access this but it is definitely worth the cost.