As a Realtor, it’s not uncommon to hear a price objection from a Buyer when visiting homes. “It’s too expensive,” “out of my price range” and “more than I’m looking to spend” are some of the most common objections a Realtor can hear about a particular house when working with Buyers.
So what exactly does that mean? How is a Realtor supposed to respond? What would you say?
We’re all humans, and humans make mistakes. That’s just a fact of life. Unfortunately, when mistakes happen, they are often costly. Therefore, we owe it to ourselves to mitigate mistakes as best we can. We’ve written about all kinds of mistakes people make in real estate. Here is our list of the top 10 mistakes people make when dealing with real estate and real estate transactions.
When you buy a home, one of the most important things you should do is to check on statuses of permits for anything that looks to be an addition or a major modification to the home. For example, room additions, garage additions, bathroom additions, major remodels, adding a guest house or building a second story above the garage all must be permitted by the city.
I recently sold a two unit property in Long Beach for one of my bank clients. This was an REO. Unfortunately, when it was assigned to me, I had no clue what I was getting myself into…..
I recently sold an REO home in Placentia California. If you still think the real estate market is a dump, make sure you read this case study to be proven wrong. This case study will be an overview of what happened on this home from Foreclosure Sale through final Disposition.
The big banks have stopped foreclosing, thus pulling millions of REO homes off the market. Many of these delinquent homes are turning to short sales or REO Rental programs. In the first scenario, banks work a deal with the borrower to sell the home, short of the outstanding loan balance. In the second, banks take homes back and then rent them to the former borrower or another tenant.
One of the things most folks neglected to consider was how the REO rental programs could and would be financed. This presents one of the largest hurdles.
Since 2007 the real estate markets have been collapsing all across the world. With so much talk about the troublesome economic conditions in Europe, increasing delinquencies in FHA mortgages and still slower than desired job growth, some people thought we still had room to fall in real estate.
We’re pleased to announce that our new e-book California Real Estate: How To Pay Significantly Less Than Your Neighbors & Avoid Costly Mistakes is now available for download!
We gave out a few copies over the weekend and have already gotten some positive feedback. Please let us know your thoughts.
You can purchase
Now that you’ve found a home, or several homes that fit your investment criteria, it’s time to make an offer. Making an offer is not as straightforward as you would think. An offer contains several different terms, all of which affect your overall offer. An offer is more than just price.
Before you begin making offers on homes, make sure you understand all the expenses associated with buying and owning a home. Whether you are a first time home buyer or you’ve owned a home for many years, understanding the expenses associated with homeownership is critical. As we said previously, knowing is half the battle, at least you can plan for it.