This 1920's two story is a real find! Updated just to the point of necessity, it has granite countertops, a new roof, fresh paint and stain, and beautiful hardwood floors.
https://www.youtube.com/watch?v=zK733ZrrMZM
Thursday, May 1, 2014
Tuesday, April 22, 2014
4 point inspection? Why should I care?
A four point inspection is an inspection not only done for the future homebuyer's satisfaction and peace of mind but also for an insurance company. The insurance company will look at a four point inspection and give you better rates on your homeowner's insurance based on updates to the FOUR parts:
HVAC - air conditioning and heat
Electrical - breaker box, wiring, lighting
Plumbing - copper tubes, PVC, and C-PVC
Roof - 3-tab, architectural, flat, membrane
HVAC - air conditioning and heat
Electrical - breaker box, wiring, lighting
Plumbing - copper tubes, PVC, and C-PVC
Roof - 3-tab, architectural, flat, membrane
http://troywalseth.com/
http://troywalseth.com/
Natasha Hitchrick has done a fantastic job building the Troy Walseth Team's new website!
Please share these two great sites!
www.troywalseth.com
http://chase.findclearwaterhomes.com
Natasha Hitchrick has done a fantastic job building the Troy Walseth Team's new website!
Please share these two great sites!
www.troywalseth.com
http://chase.findclearwaterhomes.com
Monday, April 21, 2014
Cool article on Yahoo: downpayment alternatives
https://homes.yahoo.com/news/alternatives-to-putting-20--down-on-a-home-003554316.html
Especially the last section. Most states have a first time homebuyer program that will either grant you or loan you up to $10,000 at 0% over the life of the loan!
Especially the last section. Most states have a first time homebuyer program that will either grant you or loan you up to $10,000 at 0% over the life of the loan!
Thursday, April 17, 2014
Wednesday, April 9, 2014
FLIP house example
4 bedroom 2 bathroom house in Clearwater. 1800 square feet. Pool with large enclosure.
This makes the almost perfect flip house because of it's size, number of bedrooms, and pool (amenities). I say "almost perfect" because we generally would like it in a hands down gorgeous neighborhood and this element is missing. It needs lots of work, including a roof, new flooring, paint inside, siding and repairs on the exterior walls (because they are wooden). Our team came up with a ARV (After Repaired Value) of $125,000 based on sales in the exact neighborhood. This is a purposefully low estimate to account for $5k in negotiations.
Right now, the house is listed at $75,000 but can be purchased for less given the lengthy time on the market.
We want to make $20,000 profit on this so you take the $125k ARV - $20k profit to get $105,000. Next we need the cost of repairs which we determined would amount to a conservative $25k. We're now at $80k and we still need to account for cost of sale (realtor and closing fees) and interest on money being used to purchase it: $15k. While it almost never works out to be the exact asking price, this house works with a reasonable offer. To give ourselves even more cushion, we would want to offer close to $60k to start and hope to end around $65k to cover incidentals.
Check the house out here:
http://www.movoto.com/clearwater-fl/2130-catalina-dr-clearwater-fl-33764-431_u7615425/
This makes the almost perfect flip house because of it's size, number of bedrooms, and pool (amenities). I say "almost perfect" because we generally would like it in a hands down gorgeous neighborhood and this element is missing. It needs lots of work, including a roof, new flooring, paint inside, siding and repairs on the exterior walls (because they are wooden). Our team came up with a ARV (After Repaired Value) of $125,000 based on sales in the exact neighborhood. This is a purposefully low estimate to account for $5k in negotiations.
Right now, the house is listed at $75,000 but can be purchased for less given the lengthy time on the market.
We want to make $20,000 profit on this so you take the $125k ARV - $20k profit to get $105,000. Next we need the cost of repairs which we determined would amount to a conservative $25k. We're now at $80k and we still need to account for cost of sale (realtor and closing fees) and interest on money being used to purchase it: $15k. While it almost never works out to be the exact asking price, this house works with a reasonable offer. To give ourselves even more cushion, we would want to offer close to $60k to start and hope to end around $65k to cover incidentals.
Check the house out here:
http://www.movoto.com/clearwater-fl/2130-catalina-dr-clearwater-fl-33764-431_u7615425/
Wednesday, March 26, 2014
What's my house worth?
How do you determine the value of your home? The easiest answer is comparable properties (comps) that have recently sold in your neighborhood. Seems easy enough, but the three most important words in that answer are COMPARABLE, NEIGHBORHOOD, and RECENTLY.
These are the three key elements in an appraisal, a professional valuation of your home. An appraiser will look at COMPARABLE houses (similar in square footage, quality, and number of bedro unoms and bathrooms) in your NEIGHBORHOOD (the closer the comp is to your house, like next door or on the same street, the better) and RECENTLY (in the last 90 days is the first thing the appraiser looks at).
Thoughts on which "house" is worth more?
These are the three key elements in an appraisal, a professional valuation of your home. An appraiser will look at COMPARABLE houses (similar in square footage, quality, and number of bedro unoms and bathrooms) in your NEIGHBORHOOD (the closer the comp is to your house, like next door or on the same street, the better) and RECENTLY (in the last 90 days is the first thing the appraiser looks at).
MOST IMPORTANTLY!!!
While furniture, art, clutter, dirty laundry, pets and other things are NOT included in the value of your house, they can all HURT or HELP you.
Impressions mean a lot to an appraiser just as they mean a lot to a customer. Staging a house with nice, new furniture is well worth the time and energy unless you already have very nice furniture, colors, and decor.
Thoughts on which "house" is worth more?
Same living room, same house, same value?
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