November, 2014 RSS Icon
Found 2 entries for November, 2014.

1. Understand “The Search”.

Technology and the internet has changed how homes are found and the current statistics show more than 95% of home buyers start their search online.  I will tell you I have not had a client in the past three years that has not used the internet to search for their future home.  The important thing you should know is that not all search sites are the same.  Often it takes 24 to 72 hours (or more) for properties to hit websites that are syndicated - Zillow, Trulia, etc.  If you are not using a hot search directly from the Multiple Listing Service (MLS) you could be days away from seeing your dream property - possibly days behind the other buyers.  

2. Photos May Be Worth 1,000 words – or Leave You Saying Huh?

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1) Income Value from Rents

This is my favorite way to calculate the value of my personal properties.  In six easy steps I’ll show you how to quickly calculate the value of a property.

  1. Determine your required rate of return / what percentage you want to make.
  2. Calculate the net income of the property.
  3. Calculate the expenses of the property.
    1. Note: Since a buyer may require a mortgage and interest rates fluxuate every day the cap rate does not account mortgage payments or purchase costs. 
  4. Calculate the cap rate: Cap Rate Equals the Annual Net Operating Income divided by Cost (or Value)  Cap Rate = Net Income / Cost (or Value)
  5. Understand Cap rate so if you are a buyer you know what to offer and if you are a seller you know where to
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