Real Estate Blog
Wednesday, October 29 2008
As some of you may know, Susie Kang is a very active member of the CCIM (Certified Commercial Investment Member) Institute. It is a prestigious international organization that certifies commercial and investment real estate professionals.
Recently, Susie flew to
Susie’s commitment to volunteering her time with the CCIM institute also includes her work for the Designation Committee, of which she is a member of from 2008- 2010. It is not only business on her mind; after all, what's business without a community to enjoy it in!
Wednesday, October 15 2008
Have you ever walked into an older home and started to do the rehab job in your mind before you even walk passed the foyer? Well, if you are considering buying a historic home and find yourself in this situation- take a pause and ask your Realtor® about the specific codes that the house must adhere to. Bankrate.com advises that detail s especially in regards to expansions, roofing, paint, windows, insurance, tax, and energy efficiency, may make you think twice before making your final purchase decision. These restrictions make the improvements and upgrades either impossible or very expensive. The purpose of historic homes having such stiff limitations is to preserve the character and culture of the original architecture. Although there may be a set of hoops to jump through, for the willing and able, it is a great way to contribute to the neighborhood as well as the city. Locally, if you are interested in seeing some of the historical homes closer to your neighborhood, consider going to the 2009 Hyde Park Historical Homes Tour.
For those who want to study up on the Austin historical home ordinances, start with the City of Austin zoning information.
Remember: If all we invest in are the modern designs and plans, we will forget the path that directed us here to begin with.
Wednesday, October 08 2008
You want to sell your home, and you have interested buyers; if you are lucky enough to be in this situation, there still may be one obstacle that is holding you back from a closed transaction: the bank. With news of doom and gloom, it is those who think out of the box that will get to the finish line (ie. the closing table).
Consider owner-financing- financing all or part of the amount of the agreed sales price. With the correct advice from your lawyer and accountant, this can be a win-win situation. Buyers can enjoy flexible qualification terms, personalized financing terms, agreeable down payment agreeable, lower closing cost, and faster closing. As the seller, you can look forward to higher sales price, tax breaks, monthly revenue, and the ability to charge a higher interest rate.
Owner financing may be the key to help guide the increased number of pending transactions to closing. The National Association of Realtors reported an 8.8% increase of pending sales in August 2008 from August 2007. As the rest of the nation waits to see how many of these become successful transactions, Sellers, do you homework and seek out all the different pathways that are available to you.
For additional information regarding owner financing, visit about.com
*Please seek the professional advice of your lawyer and accountant as Joa Realty is licensed to sell real estate in Texas and may not advise you on the details of owner-financing.