Monthly Archives: November 2016

MAKING HOLIDAY PURCHASE

Have you thought about purchasing a home this time of year, but you are hesitant because holidays can stress you out, and you feel like you have no time. I am here to tell you, YES you can purchase during the holiday season, and I am going to give you some time on how to make it pain free! Sometimes sellers try to avoid selling their home during this time of year, because the days seem shorter, the wintery weather, and wisdom that the buyer will avoid purchasing! Buying year end can be much of an advantage to a buyer because the seller is often selling the home for a reason or for urgency! The downside of purchasing a home during the cold season is there is a shortage of homes for sell, so you cannot be very picky if you want to get into your home before the New Year! One of the things you can do is have your Real Estate Agent pulled the “expired listings” in your preferred area code, they might not currently be on the market, but you can always reach out to the owner and see if they are still willing to make a deal with you. Another thing you can do is have your agent reach out to people in the neighborhood you would like to live in and see if they can get someone to crack on selling. Hey who knows they might have thought about selling but wanted to wait till the New Year! Last but not least, you can have your agent call around local brokerages and see if there are any “coming soon” homes in the area you would like to live! On the UP side of purchasing in the winter, you will so to speak have less competition on the home you love. You will be able to negotiate prices and moving costs with your seller without having someone coming along to put in a better deal than you! Picking a home this time of year can be a slower process, not only because sellers and buyers are in and out of town for the holidays, so is your Real Estate Agent. Finding a agent who has the same holiday schedule as you will be a must in this process. One of the biggest up sides to purchasing a new home during the holidays, is having that new home to show off too all your friends and family. Also as the buyer you cannot be shy when it comes to going to see homes during the holidays, if a seller was not serious about selling their home, it would not be on the market when they know purchasers will be coming by at all hours of the day to see the home! There are a lot of pros and cons of moving through the Holiday season, more pros for the buyer! You have to be open minded and know there is not going to be a lot of inventory but if you let go off all your expectations you would be surprised how nice of homes you can find this season! Happy Reading!

DO NOT LET CREDIT REPORTS SCARE YOU!

Do you have a great tenant, but their credit score scares you a little bit? As a property management company, here at Black and Cherry Real Estate of course we look at people who have a good record of paying their bills on time, but we do also help people with no so good credit because in reality not everyone has perfect credit! Some property managers cannot rely only on people who have good credit if they want to keep their properties full and their owners happy. There are a couple things as a property manager you can look out for when renting to people with no so good credit that can either be a red flag, or the best tenant that has every lived in the home! When you are signing a lease with a new tenant and their credit is not the best, try and get them to have a cosigner with them, even if they are not fully on the lease having a back up person that is reliable and can help if things go south in the property will truly have not only you, but your owner feeling at ease with the new tenant. Also with younger kids, because they might have good credit, but they also might not have enough credit established or rental history to go off of, so having a cosigner for them could truly make a big difference when you are starting to rent out your owners home! Asking for a larger deposit from the potential tenant could also make your owner feel a little better about renting to someone with little credit! Having something for your owner to fall back on if the property gets messed up or if the tenant abandons the home, your own will be able to cover the cost to get it back up and ready for a new tenant!  Not only can you get a few extra bucks for the deposit, if legal or possible, you can also ask for rent in advance! Like 2 months of rent with their deposit that they will get back if they complete the lease, and leave the home in the condition they got it in! That will put the tenant at paying a month in advance every month on the due date, and the owner will have rent to fall back on if they fail to pay their payments! Try to require automatic payments! Requesting this can ensure that you will receive the rent on the property on the day it is due every month and the tenant will not have to worry about getting it paid every month! If that is not possible, try and communicate! Sending a renter a text/email every month a week in advance will ensure that they will not forget about their rent payments coming up, and will also give the renter no excuse as to why the rent was late! With a few of these tips, you might be at ease with giving a renter with little to no credit a chance! Just remember to also have a backup plan! You can never be too safe these days! Happy Reading!

A STRESS-FREE THANKSGIVING

Thanksgiving may seem like the most stressful holiday of the year. Having your entire family in one house, and cooking all day seems like it can be more pain than it is worth. If you are anything like me, I have over 30 people in my family including grandparents, aunts/uncles, cousins, siblings and nieces and nephews. Having that many people in a small house may seem like it could be the worst thing in the world, but I am going to give you a couple tips on how to make your thanksgiving run smoother! My mom has been hosting Thanksgiving at her house for the past 10 years, and let me tell you, she is very high strung and tightly wound, so Thanksgiving with that many people in her home has always lead to her being stressed out! First thing to do before your Thanksgiving feast is to designate a day to shop. Buying food you have to prepare for 30 people can be done in one day if you have a plan, and if you know what you plan to make, so being at the grocery store is not stressful. Building a schedule a couple days before Thanksgiving will keep you from not only scrambling, but from forgetting things. DO NOT FORGET THE TURKEY. Yes my mother did that one year because she was shopping last minute and was rushing through the store! Develop a list with thing you will need to complete your dishes. In my family we stick to tradition, you will never see a Pintrest based meal on our table. So having a list is sort of simple for us. With that being said, our Master list does not change from year to year! Keeping it classic has really helped my mom keep her cool when she is at the grocery store! Set the table a head of time. By that I mean the night before the gathering, but out your nice plates, and silver wear! Having everything out and ready to go will keep everyone out of the kitchen at once trying to grab them while you are finishing your cooking. We usually put our Christmas tree throughout the holidays, so why not put out your fancy plates to show off to the family before the big meal? Prepping the night before will be a HUGE help to your stress level! Having easy dishes and pre-cut food all ready to go will save not only time the next day, but will also save your stress. Not having to worry about peeling potatoes for an hour, have them peeled the night before so you can just start your mashed potatoes when you are ready to start your cooking.  When you are preparing a dinner like this, do not forget to spend some time doing things you love with the people you love. Maybe you guys can enjoy a good card game, or if you are anything like my family, you will be enjoying a good dance off! Try not to stress and to ENJOY the people you are THANKFUL for! Thanksgiving is only as stressful as you make it! Happy Holidays!

PURCHASING YOUR FIRST HOME!!!

Is it your first time purchasing a home? It can be very overwhelming, TRUST ME! Where do I start? HOW do I start? Those are just a few questions most first time home buyers are asking! In this article I am going to give you a couple of tips on how to make the process go a little smoother! When purchasing your first home in the Las Vegas area, you are going to want to sit down and really think about the area you want to live in, and how much you are willing to spend on your first home! When thinking about purchasing, the first thing you are going to want to do, is start SAVING! Yes saving as much as you can to make your down payment on your home a lot easier. Most people do not start worrying about saving until it is too late! The more you are willing to put down on your new home, the less your loan will be, and the less your mortgage is! If you want to avoid paying private mortgage insurance, or PMI, you will want to have at least 20% of your future homes value to put down! Even if you are not ready to purchase for about a year, putting 100$ per month into a new home fund will truly add up and it will make it way easier on you to get your down payment taken care of! After you have started saving, DO NOT RUSH THINGS!! Life comes with all sorts of circumstances, but if you wait until you truly love a house, and its price, that will make purchasing a home a lot easier! Jumping into a home that you only half love will usually not turn out in your favor, you will start to hate things you loved about your home when you bought it. Be Patient, your home might not even be on the market till your 100 percent ready to purchase! Explore every option before diving in! While you are looking for your Las Vegas home, pay full attention during the inspection. While you are with the inspector, don’t be afraid to start checking things yourself. Look at little things like does the toilet flush properly, is the water heater old, little things that can turn into big things when you are not prepared for them! After you have fallen in love with a home, do not be scared to get a third opinion. Bring a friend, or family member and have them walk through the home looking for things that might cause a little trouble down the road, we have all been in the “love-Bird” stage with a home and have skipped over things that might make you change your mind, but you do not want to miss little things! Looking for your first home can be so fun, but so stressful at the time! Take your time, do not rush it if you are not in love, and start saving as soon as you can, so you are as prepared as you can be! Happy Reading!

 

http://lifehacker.com/10-valuable-lessons-for-first-time-home-buyers-1707255214

PROPERTY MANAGEMENT VS HOA

Being a first time renter in the Las Vegas area, it is very easy to confuse and Home Owners Association (HOA) with your current property manager. They are both very much involved in managing the property, and both are working on keeping both the tenants and home owners happy in their neighborhood! IN most cases, they actually work together, but they do function completely different. To be able to tell them apart, you will want to know what their job titles are different. This article could be good information for both a tenant and a home owner in an HOA community! So let’s jump into it! Most people who are first time renters are quick to jump to “What even are home owner associations and what do they have to do with me as a renter?” Neighborhoods, big or small, which are owned by many different owners, more than likely are in an HOA subdivision! These owners may not care for the way their tenant, or the owner is living in the home. This is where the HOA gets involved. They enforce rules and compliance (known as covenants, conditions, and restrictions, or CC&Rs for short) that everyone in that neighborhood need to abide by! The people who work for these organizations also own properties in that community. While members of the home owners association may propose or “vote” on rules for your community, the elected HOA board usually has the finally responsibility for ensuring that rules get kept and other responsibilities get met. When living in an HOA community, you will get violations for things like trash out too long, un-trimmed bushes, broken blinds, ect. When you receive a violation, you have a certain amount of time to comply with the HOA to get it fixed, or it can result in a fine, and even worse, and HOA foreclosure. Those are just a few things that an HOA is responsible for; now let’s jump into what your Property Management Company is responsible for!   Property Managers are technically employed by the home owner who you are renter from! People hire property management companies so they do not have to worry about their home! Here at Black and Cherry Real Estate we manage over ONE THOUSAND properties, and which more than 60% are in HOA communities! We work directly with the HOA to keep all of our properties in compliance with the CC&Rs. The property management company will not only reach out to you with violations, but the HOA as well. They make it very simple when you have to fix, change, or repair anything on your home to keep in compliance! If you are renting within an HOA community, I suggest you request the CC&Rs from your management company, read over ALL rules and regulations to keep your home in compliance, and most importantly, to keep your home from getting a fine! The difference between HOAs and Property Management Companies is, the property management company works for the OWNER of the home, and the HOA company works for the COMMUNITY! They typically work together, but they do have very different jobs. Look into both the home owners association and the property management company before you rent! Happy Reading!

 

 

http://www.appfolio.com/blog/2016/07/hoa-vs-property-manager