admin | May 17, 2012
Every week I am faced with buyers who are dealing with such overwhelming stress when buying a home that they simple can’t handle it. The fact is most of this stress can be avoided by following a few simple steps. Here’s how to prepare so the process goes smoothly and the stress doesn’t get the best of you.
- Know your numbers – Do yourself a favor and meet with a mortgage broker before you do anything. You need to find out how much money the bank will lend you and then factor in your total monthly payment including the mortgage, taxes, insurance, and utilities. Get really comfortable with that number and then it’s easy to work backwards from that and hone in on homes in that price range!
- Know what you want – Before you get in a car and drive all over town, know where you’re going. It’s OK to view homes, but don’t just look at them to look at them. This will quickly lead to frustration. Stick with the basics: how many bedrooms, how many square feet, what type of view, and what type of amenities do you want?
- Location – Focus on the location you want or in which community you’d want to live. Amenities differ in every community and it’s important to know in what area of SWFL you’d like to live. Figure that out and then it’s easy to zero in on certain areas and bring up all the available homes in your price to view.
- House or condo – Single family homes are easier to get financed and are completely detached from other homes, which is appealing. However, they often have more expenses and upkeep than a condo. Some people elect for condos, but remember that is more of a shared living experience with neighbors above, below, or to the side of you. Condos are great options and generally require little maintenance; therefore, the monthly fees tend to run higher than on single family homes.
- Leave it to fate – If it’s meant to be, then it’s meant to be. Make your offer and let it be. I often see buyers get so worked up and disappointed if they don’t get THAT house, causing a lot of stress and adding unnecessary drama to their lives. The funny thing is that almost every time that happens, it ends up for the best because a month later we find them an even better home and it ends up working out perfectly.
Prepare and go with the flow of the home buying process; don’t resist it – just let it happen and I think you’ll be pleasantly surprised!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | May 11, 2012
Our market is just plain nuts. It was insane on the way up, wild on the way down, and now it’s just as bananas as ever. Our low prices and warm sunshine have created a perfect storm in the real estate market. It seems that I have more buyers willing to buy than properties to sell. Inventory has dried up for the time being and it tends to create multiple offers on listings when they are priced 
right!
As you know, when supply is low and demand is high, some “hot” properties go on the market. Our driving factor is price and when a perceived low-value home hits the market, it can go under contract within hours! If you are a frustrated buyer who keeps missing out, here’s some tips to help you win a successful sale!
- Start High and End High – With a well-priced property that you know will sell fast, give your highest and best offer to start with. You’re more likely to get it accepted right away than trying to go back and forth. The more time wasted in the bidding process allows for more potential buyers to bid on your potential new home!
- REO (Bank Owned Foreclosures) – If a new one comes on the market, expect it to go near asking price. The bank does professional price opinions and appraisals so they feel their price is at or below market and they won’t budge. However, when homes are on the market for 30 days, you’ll usually see the price drop 5% to 10%. The problem is most foreclosures don’t sit on the market that long.
- Inspections – Instead of 10 days, try 5 days. The fewer days for you to back out the riskier it is for you, but you greatly increase your chances of the seller accepting your offer. Just line your home inspector up immediately and you should have no problem!
- Remove Contingencies – Don’t try to make it contingent upon you first selling your house in Michigan. It’s not going to happen. In a fast moving market like this, sellers don’t bother with those easy escapes for buyers.
- Be Prepared – Get your bank statements or your approval letters from your mortgage broker ready. You need to submit them with your offer, which makes your offer look stronger. Do it ahead of time and increase your chances of being the winner!
Good luck and stay positive! You will buy the right home when it’s meant to be!!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | May 4, 2012
Looking to rent your property out? The market right now is ripe for rentals so take advantage of the opportunity! However, the more time you spend managing your own rental property the more money it’s costing you. Let’s fix that!
- Don’t wait to clean. Landlords will often wait until they get a tenant to clean the place. This is not smart. If your unit isn’t sparkly clean it most likely will not rent in a quick fashion. Your goal is to get your property occupied as quickly as possible. Shampoo the carpets, clean the windows, and paint the walls. Don’t forget to deep clean the appliances and dust the fans (those two things are often overlooked). Remember the cleaner it is the quicker it will rent.
- Don’t forget the small stuff. When tenants come in and see light bulbs out, faucets that don’t work or are dripping, or blinds that are not installed or damaged, it’s an immediate turn off. Tenants think that if you don’t care enough to take care of these items now, you certainly won’t when they are living there.
- Keep ‘em happy. We often see tenants and landlords battling against each other and it doesn’t have to be that way. Why not wish them happy birthday or tell them how thankful you are to have them as a good tenant? Remember they are paying your bills for you and they are taking care of your property for you. Treat them with respect because it’s much easier to keep the current tenant than to find a new one.
- Don’t mess around. If your tenant does stop paying you, move quickly. Do not buy into the stories and don’t rent with your heart. Put a 3 day notice on their door immediately and start the eviction process. Oftentimes, this will be enough to scare them and they move out on their own. We see owners who try to do this on their own and end up letting the tenants stay for several months for free! Don’t let that happen to you – hire a pro to help so you keep your profits high!
- Which brings me to; Hire a pro. The easiest way to ease your burden is to hire a leasing and property management company. You want an expert in the field that can find and place tenants into your property. Make sure the company prescreens tenants, does background checks, holds security deposits, collects and disperses rent, has vendors to make repairs to your property as needed, and has 24/7 accounting of your property. (Our company can do all this for you – please call 239.825.2234 if you’d like to try us out!)
Happy renting!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Apr 20, 2012
In today’s market, negotiating your way into a great buy is the only way to do it. Certainly there are tricks and tips that- if you follow- will help you arrive at your destination as smooth and favorable as possible.
- Start Low. A lot of people think, why go back and forth and meet in the middle? Why not just start and end in the middle? The reason is because everybody wants to feel like they are getting a deal. You have to make the seller feel like they are winning by starting lower than you want to pay and working your way up on price. That give and take allows both sides to feel they are winning in the transaction. That’s important, because there could be buyer/seller remorse later on if there’s no haggling. Perception is key, and it will keep everyone in the deal all the way through closing.
- Ditch the phone/email and go face–to-face. Seeing the sellers’ reaction can be a big tell as to what the seller really thinks about your offer. You are hoping for smiles and them being engaged. If they are fidgety and looking down or away it most likely means they don’t like your offer.
- Shut Up! After you present your offer, stop talking and wait. There may be a very awkward silence that can go on for several minutes. If you start speaking, you will most likely talk yourself out of the sale and the seller will change their mind for whatever reason. Just wait.
- Ask for More! The more you ask for, the more you may have to “give up” in order to get the seller to accept your price. The key here is to take the negotiation off the price and onto the other things. If the seller sees you giving up many of the items and making concessions -hopefully they will be more apt to accept your offer of the lower price.
- Walk away. There is a lot of power in saying “NO” or “The deal’s off.” This tactic works very well, often times sellers feel that if you are going to take the time to bid on their property that they can work you up on your price. If you say “No, that’s it” and walk away, willing to lose the property and the sale, a lot of times you’ll be surprised by how quickly a seller will scramble to keep you in the deal.
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Apr 13, 2012
I’ve written about short sales a lot over the years, and I continue to because they are still a huge part of our market. Buyers and sellers know that the market is improving, but the reality is that short sales are still everywhere. Values have not increased and a lot of sellers are still under water on their home. Years of holding on may finally be coming to an end and it’s time to attempt a short sale before your home goes to foreclosure. Here are three important things to keep in mind.
The short sale is nothing to fear. Having a competent Realtor to guide you through the process will make your life a lot easier. We process a lot of short sales in our office and we have been so successful because we have a local attorney do the negotiating with the banks. It helps to have a third party working on your behalf and the bank is more apt to deal with them than the homeowner/borrower. Most banks are simply trying to figure out how they can squeeze more money out of the homeowner. That’s why deflecting to an attorney to handle the negotiating can help your cause. We work hand-in-hand with them and process the whole transaction to get you out from under the property.
I recently accepted a short sale file that has me concerned. It’s concerning because the homeowners are not providing the necessary documents needed by the bank to approve their sale. When homeowners drag their feet and don’t act quickly, it’s possible that the bank will literally throw the file to the back of the pile and it will sit there dormant for several months. Banks need all the completed paperwork in their file as quickly as possible and they don’t tolerate incomplete files.
When you list your home for sale, make sure you price it competitively. I often see sellers overprice their home as a short sale thinking that if they get a buyer to overpay for a property the bank will magically be more lenient. This is just not right for three reasons; one is that by overpricing the home you price yourself out of the market and will not get showings and will not get a buyer. In this market, buyers are educated and they know prices better then most Realtors. Reason two is because banks do an appraisal on the house and they sell it for what it’s worth based on the market. Reason three is because the homeowner in a short sale, in almost all cases, does not get any proceeds no matter what the home sells for. So, it’s not serving anyone by trying to net more.
Good Luck Selling!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Apr 6, 2012
Buying a house is a big deal; for most people it’s the biggest purchase they will make in their lifetimes. In today’s economy and market conditions, some of these questions are more important now than ever. I’ll give you 5 great questions to ask that will help your purchase go smoother and keep you on the right track.
- How many foreclosed homes are in the neighborhood? How many are in pre-foreclosure? You want to know how many of your new neighbors are not paying their mortgage or community association fees. This is important because you could quickly end up with deteriorating homes in your neighborhood and your newly purchased asset’s values dropping. Owners not paying their association fees could also raise your fees to compensate for their neglect.
- What are the fees in the neighborhood? These vary dramatically from one neighborhood to the next. They can be anywhere from one hundred dollars a month to thousands of dollars per month. It all depends on the amenities the community has to offer and the upkeep of the common areas of the development.
- How much will my mortgage, taxes, insurance, and monthly fees all add up to? Several years ago, people didn’t care about this number so much because they felt they would not be in the home very long and could sel for a profit. Well, we know how that story ended. Consider this a long-term investment and make sure your total monthly expenses are within reason and something you can always be comfortable paying. You never want to become a slave to your house!
- What are the comparable sales in the neighborhood? Make sure to look at what has actually closed within the last 6 months or less. This will give you a real indication of what values are doing in the neighborhood. You’ll be surprised to see that in some developments the prices are creeping upward right now.
- Finally, ask for the seller’s disclosure. This is a 5 page document in which the seller discloses in writing any information about repairs or problems with the house. Don’t forget to get a home inspection too. It’s very smart to have a 3rd party inspector come into the home and tell you any potential problems that are present.
Asking the right questions will make your transaction a more comfortable one. Be sure to do the research ahead of time so you are not surprised later on! Having patience and persistence will allow you to find the perfect property to give you years of enjoyment! Happy Buying!!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Mar 30, 2012
Just last week I sold one of my listings with tenants living in it and I must say it was a bit of a pain. When you don’t have total control over the actions of renters living in your home, it can make the job of selling your property much more difficult. However, as a buyer, it can be an opportunity if you can look past what’s going on inside the home with the tenants.
Sometimes tenants will be very considerate and treat your home like you would, but it’s usually the opposite. Most tenants feel that if the house sells they will be put out on the street (which is not true, the lease should survive the sale typically). Often when the tenants feel uncertain about what will happen if the house sells, they will leave it messy and make it very hard and inconvenient to show. I always tell sellers to offer the tenants a reduced rent while showings are going on due to the inconvenience they are going through and this usually helps to keep them happy. Also, make sure to explain the lease terms and that they will not be kicked out if it sells. Give them direction and certainty. It’s like anything in life; communication is key and will help you meet your selling goals.
If you are buying a house with tenants in it, look at it as an opportunity for instant cash flow. If it’s difficult to even see the home, realize that every other buyer is going through the same difficulties and use this as your advantage – don’t give up! Most people will, so keep moving forward and you’ll most likely end up with the house. Don’t worry so much about how the tenants keep the home. Everyone lives differently than you do and they don’t own the home so obviously they aren’t going to treat it the same way you would. Your biggest concern is that they pay rent on time every single month. Some tenants will call and want things fixed in the house, don’t be annoyed like most landlords are. This is a good thing; it means the tenants actually care about having everything in working condition in the home, thus preserving your asset.
Although it can be difficult to buy or sell a home with tenants, don’t be deterred. This can prove to be a great opportunity for all parties involved!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Mar 23, 2012
As our market continues to improve, there is greater opportunity now more than ever. What’s the best way to approach this market as an investor? Read on and I’ll give you some simple strategies to insure you make the most of your dollars!
- Location, location, location – It’s cliché, but as prices trend upward we will see our biggest gains in properties of A+ locations. If you buy a dump just because it’s cheap, it may come back to haunt you when the market rebound is in full effect.
- Beware of fees – Be careful to assess your association fees, taxes, insurance, and utilities. These are your yearly carrying costs just to be a homeowner. You can’t get out of paying them if you own a slice of paradise. The biggest kicker is homeowner association fees. They can be very expensive in some communities, so do your research because this will kill your investment!
- Positive cash flow – A lot of people feel if they break even or lose a little bit every month that is acceptable. Wrong! This is a great way to end up broke! This mentality was a major cause of our market decline a few years ago. Why invest in something if you can’t get a return on it? It makes no sense! Take all your carrying costs (see #2), including a mortgage if you have one, and subtract it from your rental income. Make sure it’s a positive number!
- Put some sweat into it – Don’t be afraid to put some manual labor into the property. This is a quick way to build real value. By fixing the property up, not only will you be able to rent it more quickly, you will also add to the value of the home.
- Think long-term – Forget about the” instant millionaire”- that’s a waste of time. Instead, build a solid foundation. Maybe it’s one house a year or one a month? Set some goals and go for it! Just think, if you only bought one house a year that paid you every month, after a decade you’d have a nice retirement and tenants who are paying off all your houses for you!
Take advantage of today’s market; it won’t be here forever. Keep it simple and have fun. Stick to good locations and do your homework before making an offer. Real Estate ownership is fun, exciting and has plenty of variety!
Happy Buying!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Mar 16, 2012
Feng Shui has been around for 2,000+ years because it works. Companies like Marriot and McDonalds, and people like Donald Trump all use it because it makes them more successful and keeps their businesses thriving. What is it? In simple terms, it is taking unseen energies that are present all around us and balancing them with physical things (furniture, art, colors on the wall) to create a harmonious environment in your home. In Real Estate, this tends to almost magically and quickly attract the right buyer.
I have been using Feng Shui in my real estate listings for homeowners since 2005 and it truly has made a difference in selling a lot of homes! I’ll share some basic tips to help you bring up the “chi” in your property to get it sold!
- First impressions are everything – Clean or paint your front door. In China, they repaint their front door every single year during the Chinese New Year! Install new hardware and a doorknob if yours is tarnished and not working smoothly. This is the first impression buyers have of your home and you want it to be a good one!
- Fire and water – Put down a solid black welcome mat at least the width of your front door(s) and two pots with flowers on each side of the mat. Use either red pots with green flowers or red flowers in beige pots. This combination of two pots represents the buyer and seller relationship. In Feng Shui, black represents the water element and red represents the fire element, which is a very strong combination to attract wealth.
- Bright flowers – Having these around your entrance is extremely important. Seeing impaired people can actually sense bright colors. You want to have all different colors of flowers leading up to your front door. Silk flowers are ok too. I have seen this step alone attract buyers into the home!
- Less is more – Get rid of all clutter. Knickknacks and trinkets have got to go. Clear off kitchen counter appliances. The less clutter, the more space your home appears to have. Buyers don’t want to feel confined and trapped. You can brighten someone’s day by giving them something you haven’t used in a year and won’t miss – have fun with it!
- Neutralize paint colors indoors – If you have colors that you love, but won’t appeal to the masses, spend a few bucks and paint everything an off-white or light beige color. Once you get them in the home you want to keep them there and neutral colors will keep people calm and help envision them in your home.
Happy Selling!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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admin | Mar 9, 2012
Driving around Southwest Florida, it’s easy to notice the hammers clanging away and new subdivisions sprouting up. Unlike a lot of areas throughout the United States, builders are actually building and selling in our area right now. There are dozens of new developments from Naples to Fort Myers which is very exciting to see! What are the benefits to buying a new construction home verses undervalued resale homes and what are some tips to save money?
- Don’t just go into a new construction sales center without a Realtor. Oftentimes your Realtor will be able to get you a better deal and negotiate on your behalf. You will not save any money and most likely will overpay if you go at it alone. The builders don’t give any type of discount by not having representation of a Realtor.
- Negotiate for upgrades on the new home or for the builder to pay closing costs for you. Make sure you do this all upfront. At closing the builders tend to tack on lots of fees and it’s best to ask about them beforehand and get them negotiated early on!
- Most national home builders are publically traded companies and must turn a profit for their shareholders. That means come year and quarter end, it’s more likely you can get a better deal because they are looking to clean up their books. Patience can pay in this circumstance.
- Sometimes a buyer’s deal falls through and the builder is stuck with a brand new house without a buyer. This is called an inventory home. Oftentimes these are the best deals you can get because the builder wants to move them and will discount them to make that happen. You must act quickly because these don’t last long!
- It’s nice to have something brand new, up to current building codes, and to your specifications. There are many great deals on the resale market right now, but the prices offered by some of these builders are fantastic and shouldn’t be overlooked. Why buy used when you can buy new for similar pricing?
This truly is a great time to buy in our market. Prices are still low, but the market is coming to life. If you would like a list of the new construction communities in SW Florida or to see any of the model homes, please feel free to contact me. Happy buying!
Need help Selling, Buying, or with Property Management? Absync Realty would be glad to help! Please contact Gabe for advice at: 239.825.2234, Gabe@AbsyncRealty.com or www.AbsyncRealty.com Gabe Mellein is the broker of Absync Realty, Inc. He has 8 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.
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