Rental properties can be an excellent source of income,but only if you are able to fill them with tenants. Landlords who do not know how to market their properties will have difficulty finding good tenants and may struggle to generate enough rental income to keep up with property taxes and maintenance costs. If you want to market one of your Malibu rentals,use these tips to make the process as painless as possible. Determining How Much to Charge You may not realize it,but the price you set for rent can help or hurt your marketing. If the price is too low,it could make potential tenants think that the property is in disrepair. If the price is too high,you will lose potential tenants to properties with rents that are more in line with your local market. One of the best ways to see what others are charging is by looking at the rental listings in your local newspaper. Look for ads for Malibu Point Dume homes that are similar to yours in size and available amenities. You can also look at real estate websites to get an idea of what other landlords are charging. Lease Terms Your lease terms also affect your marketing strategy in the Malibu real estate market. Although renters expect that they will not be able to make too many changes to a property,some landlords are now letting their tenants choose paint colors and flooring options. This makes the rental space more homey,which can keep tenants in place for longer periods. If you are very restrictive and do not allow tenants to make even basic changes,they may rent from someone who will allow a little more personalization. How long you are willing to rent is another consideration. Someone who just wants a short-term place to live will probably not consider an apartment or condo that comes with a two-year lease. Someone who is tired of moving around and wants to settle down might be put off by a six-month lease. Staging Home staging is no longer just for sellers. It is difficult for renters to picture themselves living in a property when there is no furniture and no personal touches. Staging the unit with some basic furniture,a vase of flowers and a few pictures can be just the thing you need to entice a new tenant to sign a lease. Improvements It is not easy to convince someone to rent a property when the fridge does not work and the carpet looks like it is worn right through to the floor below it. You have to decide which improvements you want to make,as making some basic repairs might be enough to successful market the property. Painting the walls,fixing flooring defects and repairing or replacing appliances is one way to make the property more marketable. It may not be worth it to make major repairs that cost a lot of money,as you may not be able to recoup those costs by renting the property. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
In a competitive real estate market,your Malibu real estate agent can be a blessing. Instead of having to haggle with people and learn as much about the market as you can,you can rely on your agent to negotiate on your behalf and explain everything in detail. This is why building a good relationship with your agent is essential. As a buyer or seller,there are several things you can do to improve communication and make the transaction run smoothly. Communicate Your agent cannot meet your expectations if you do not outline those expectations from the very beginning. If you do not want to look at listings without certain amenities,or you do not want to buy a house on a certain street,let the agent know. This will save both of you a lot of time and money,as your agent will only look for Malibu homes for sale that match your criteria. If you have concerns about the process,let your agent know. Keeping the lines of communication open is one of the best ways to build trust and respect. Be Open to Advice The reason you hire a real estate agent is to get professional advice from someone who has extensive experience in the real estate market. If you are not open to any of your agent’s advice,you could be ruining your chances of making a quick sale. Your agent might suggest that you change the paint colors or remove some personal items from your home. Do not be offended by these suggestions,as you and your agent have the same goal in mind. Ignore Myths Many people hesitate to work with a Malibu real estate agent because they have heard myths about the profession and the industry. If you take these myths as truth,you may lose out on the opportunity to work with someone who can help you sell your home or find a dream home. One of the most pervasive myths about agents is that they will price your home too low just to make a quick sale. This is not true,as real estate agents want to help you get as close to your asking price as possible. If you have a question about working with your agent,ask the person directly. This will help clear up any confusion. Give Feedback Anyone who provides a service needs feedback to ensure that you have the best experience possible. If you do not provide your agent with feedback,you are taking away the opportunity for the agent to make sure you are truly satisfied with his or her services. Give honest feedback,but do not resort to rude remarks if you are dissatisfied. Additionally,you should give negative feedback immediately instead of waiting until the end of the process. If your agent does not know that you are unhappy,he or she will not have the opportunity to make the situation right. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. If you want to sell your home,you can benefit from the services of a Malibu real estate agent. An experienced agent can help you find a qualified buyer and make the transaction as smooth as possible for you. However,there may be a specific reason why you do not want to work with a real estate agent. If that is the case,then you can use these tips to sell your home on your own. Creating Advertisements Your advertisements can either entice potential buyers to visit your home or drive them away completely. Because advertising space is so expensive,many real estate pros have turned to other methods of advertising. Online real estate listings,local Craigslist websites and other alternative advertising methods can help you save a lot of money as you market the home you have for sale. Your ad should be very clear about what you are offering. Potential buyers will not be happy if they are expecting a 4 BR home and they show up at your house and find only two bedrooms. If the advertising service allows you to post photos,make sure you post the best photos available. No one wants to see pictures of dirty laundry or a couch covered with crumbs. Tidy up before you take the photos and make sure you take them in the best light. Without enough light,your home can look like a dungeon instead of a comfortable residence. Word-of-Mouth Promotion Tell everyone you know that you are looking for a buyer for your home. Your spouse,kids,parents,cousins,siblings,aunts and uncles,colleagues and friends can spread the word to all of the people they know,making it more likely that you will find someone interested in purchasing the house. If allowed,announce that your home is for sale at your next association meeting or church event. Let people living in Malibu rentals know about the listing. This can help the word spread throughout your entire community. Open House Events How you conduct an open house event can make or break the sales process. Do not invite people into a messy,crowded home. Make sure everything is put away where it belongs and that all surfaces are clean and free of clutter. The kitchen and bathroom should be especially clean,as many people pay close attention to these areas. You may want to consider doing some home staging to help potential buyers picture themselves in your house. If your kitchen is fluorescent yellow,it may keep buyers from making an offer. Paint the walls in neutral colors and put away photos and other personal items. Legal Advice Even if you do not use the services of a Malibu real estate agent,you should hire an attorney to help you protect your interests. You may want the prospective buyer to put 10 percent of the sale price in escrow. An attorney can help you create an agreement that includes these terms. Your attorney should review any sales agreements,contracts and other documents before you sign them. This can protect you against the actions of unscrupulous buyers. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. “Going green” is one of the top trends in the Malibu real estate market. Once you have selected the perfect home,there are hundreds of ways to reduce your carbon footprint and conserve energy. If you want to create an environmentally friendly living space,follow these tips. Electronic Communication If you have a home office,chances are that you use a significant amount of paper by printing documents and typing correspondence. You can reduce your paper consumption by using electronic communication whenever possible. If you just need to send someone a quick note,use e-mail instead of using a sheet of paper and an envelope. Instead of buying a paper fax machine,sign up for an electronic fax service. If someone sends you a 10-page fax,but you only need two of the pages,you will save eight pieces of paper. These methods of communication can also help you cut telephone costs. Energy-Efficient Appliances Old appliances use a lot of energy,so think about buying new appliances instead of bringing your old ones with you when you move to your new home. Look for models that have the Energy STAR label on them,as these use energy efficiently. In addition to using less electricity with energy-efficient models,you will also use less water if you buy energy-efficient washers and dishwashers. Solar Energy If you really want to reduce your electricity consumption,ask your real estate agent to look for Malibu homes for sale that already have solar panels. Solar panels absorb energy from the sun so that you use less electricity in your home. While these panels have a high initial cost,they can save you thousands of dollars in energy expenses over time. Eliminate Use of Harsh Products When you buy a piece of Malibu real estate,it is only natural to want to keep it sparkling. What most people don’t know is that you do not need harsh chemical cleaners. Making your own cleaners out of ingredients like vinegar and baking soda can help you keep your home clean without worrying about the environmental effects of chemicals. Green cleaners are also better for people who have allergies,asthma and chemical sensitivities. Use a Water Filter Many people are concerned about the quality of the water that comes from the tap. However,buying bottled water actually harms the environment. Thousands of these bottles end up in landfills every year. Distributing bottled water also requires more use of natural resources. Buy a filter that you can attach to your faucet or purchase a bottle that has a built-in filter. This will help you save money and use less plastic. Let the Sun Shine On sunny days,there is really no need to use interior lights. Open the curtains or blinds and allow the sunlight to fill each room in your home. Only turn the lights on when it starts to get dark. This will help you cut down on energy consumption and reduce the number of light bulbs you have to buy. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Regardless of the current state of our economy and the housing market,buying a home is still a great investment. However,the resulting taxes that accompany owning a home can lead to confusion and uncertainty. In most cases,you need to itemize your taxes in order to take advantage of all the tax breaks that accompany home ownership. This might seem overwhelming,but the benefits of completing this process make up for the inconvenience.  SOURCE:Money Crashers Homeowner Tax Breaks:1. Mortgage Interest Deduction
Mortgage Interest Deduction (MID) is a top tax break for homeowners, which can save you a significant amount of money. In the beginning,the majority of your monthly mortgage payments go toward loan interest,and you can deduct all the interest from your mortgage on your taxes. Keep Form 1098,issued by your lender,with your important records. This form explains exactly how much you can deduct and serves as proof if you are audited by the IRS. 2. Mortgage Insurance Premiums Homeowners with new mortgages with a loan-to-value ratio higher than 80% must carry some form of private mortgage insurance (PMI). This insurance protects the lender against loan default. Typically,once you reach 20% equity in your home,you can avoid paying private mortgage insurance. Until you reach that level of equity,if your adjusted gross income (AGI) is less than $100,000 (or $50,000,if married filing separately),you may be able to deduct the amount that you paid. If you surpass that income level,the deduction is either reduced or eliminated. If your AGI is $109,000 ($54,500,if married filing separately) then the deduction goes away altogether. 3. Energy Star Installing energy-efficient windows,doors,and skylights can result in another tax deduction. In order to take advantage of this tax break,you must install the items by the end of the year. Additionally,they must be installed at your primary residence,and they need to meet Energy Star program requirements. If you meet the necessary criteria,you can receive a tax credit equal to 10% of the cost of the products. The credit for windows and skylights is capped at $200,the limit for doors is $500,and you cannot deduct installation costs. The IRS does not state what documentation you need to prove that you paid for these costs. However,you should hold on to all receipts and Energy Star labels for any qualified improvements you make on your home. There are quite a few green energy tax deductions for home improvement. 4. Points Points refer to charges or fees paid by a borrower to obtain a home mortgage. If you have your first mortgage,you can deduct these charges in the year that you paid them if the loan is for your primary residence and you didn’t pay excessive points. If you have refinanced your mortgage,you can deduct points over the life of the loan. Check the IRS rules for details. 5. Property Taxes As long as they are based on the assessed value of the real property,you can deduct state and local property taxes. If you pay your property taxes out-of-pocket,you need to locate your bills to determine how much you paid. Most homeowners pay through an escrow account;if you do the same,the information also appears on Form 1098. 6. Construction Loan Interest If you take out a construction loan to build a home,you may qualify to deduct the interest. You can only use this deduction for the first 24 months of the loan,even if the actual construction takes longer. Final Thoughts If you stay organized and focused and keep excellent records,you can take advantage of every tax break,deduction,and credit at your disposal. However,you should seriously consider consulting a tax professional when preparing your taxes for the first time after you buy your home. You will likely encounter various technical restrictions and confusing guidelines,and you certainly don’t want any problems with the IRS. A professional can help you find more tax breaks,and you will get the best return on investment when you understand and take advantage of each and every one. Which tax breaks are you taking advantage of as a homeowners? David Bakke lives in Atlanta and is a contributor for Money Crashers, one of the top personal finance blogs that covers a variety of important financial topics like money management,buying and selling a home,real estate investing,and retirement. Russell Grether is a Malibu real estate agent. Selling a home in a buyer’s market is a true competition. The winner is the seller who can set his or her home apart from all of the other Malibu homes for sale and get a buyer to make an offer. In a competitive market like Malibu,even the smallest differences between homes can mean the difference between making a sale and letting the deal slip through your fingers. There are several ways you can make your home more appealing for buyers. Fortunately,many of them are inexpensive and will not add a significant amount to your costs. Painting the Walls Choosing bold paint colors is one of the easiest and cheapest ways to express your personality. Unfortunately,not many buyers want to buy a home with pumpkin-colored bedroom walls or fuchsia kitchen walls. If your home features unusual paint colors,repaint the walls before you put your home on the market. Taking this small step can give you an edge when it comes to finding a buyer. Exterior Maintenance Any Malibu real estate agent will tell you that the outside of your home is the first thing potential buyers see,so you should pay special attention to siding,walkways,exterior lights and landscaping. Make sure all exterior lights work properly. If necessary,replace missing or burned-out bulbs. Sweep sidewalks and steps,making sure they are clear of any debris. If you have out-of-control shrubs,trim them so that they look nice and neat. Remove weeds and dead flowers from your garden. Wash the outside of the house and make sure they you also wash the outsides of all windows and doors. Porch Repair and Maintenance If you want to sell your Malibu real estate quickly,you need to give potential buyers a warm welcome. If people have to step over clutter just to get off the porch and into the front door,you will make a bad impression. Remove clutter from the porch,sweep away leaves and flower petals,and shake out your door mat. Make your home more inviting by adding a wreath or welcome sign to the door. These little touches can make a big difference. Think Like a Buyer Go outside your home and look at everything like a buyer would. Is the lawn mowed? Is the paint on the window trim peeling? Open the door to the house and look at the interior. Is it welcoming,or will it drive buyers away? Check the arrangement of the furniture and make sure that it is easy for buyers to move around. Straighten window coverings and picture frames so that they are not crooked. Look at every room and think about whether it will appeal to a buyer. If you find something amiss,keep making changes until your home is ready for a showing. These simple steps can help you draw in potential buyers and help them imagine what it would be like living in your home. This can make the difference between receiving multiple offers and having to lower your asking price because no one has shown any interest. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. In a down economy,it’s tempting to find another rental instead of thinking about buying one of the many beautiful homes for sale. While Malibu rentals have some benefits,buying a home can actually help you save money when you compare it with the cost of renting. Learn about the benefits of buying Malibu Point Dume homes and determine if buying could be the right option for you. Home Investment When you pay rent to someone else every month,all you are doing is helping that person build his or her future. The rent money does not help you improve your financial situation or invest in yourself. All it does is guarantee that you can stay in your apartment or condo for another month. When you buy a home,you are investing in your future. Every time you pay your mortgage,you will be building equity. Once you pay off your home,you will have a valuable asset that can serve as collateral for a home equity line of credit. If you are thinking about the future,buying is clearly a better option than renting. Financial Benefits Buying Malibu real estate has several financial benefits that renting just does not provide. Rental leases are typically only a year long,which means that your landlord can make regular rent increases. Any time your lease is up for renewal,your landlord can impose additional restrictions on how you use the unit. Although it is possible that another company will buy your mortgage from the original lender,those who buy their homes typically pay the same amount of money each month until the mortgage is paid off. Knowing how much you have to pay for your home each month can help you better plan your finances. Tax Benefits Renters do not receive the many tax benefits available to people who own their own homes,so renting can actually be more expensive than buying. The federal government offers credits for first-time homebuyers and the purchase of energy-efficient appliances. Depending on your circumstances,you may also qualify for additional tax credits. In many cases,you can also deduct mortgage or property tax payments on your tax returns. This makes owning a home a very attractive option. Reduced Costs Due to the decline in the economy,interest rates are now very low. If you have a good credit history and make enough money to qualify for a mortgage,you may be able to lock in a home loan with a very low interest rate. Locking in this reduced rate can help you save hundreds or even thousands of dollars over the life of your loan. Property Changes When you rent someone else’s property,the property owner can restrict what you do to the rental. You may not be allowed to hang pictures on the walls or paint with the colors you really like. If you hate the carpet,you might not be allowed to replace it. When you buy your own home,you can customize it to your liking and make changes as desired. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. When a seller puts his or her house on the market,the best case scenario is that the house will sell quickly and that the buyer will pay as close to the asking price as possible. Unfortunately,a lagging market makes it easier for buyers to negotiate on price,so it is difficult to get the high prices you could get in a booming market. You are also competing with other Malibu homes for sale to capture buyer interest. However,you can take several steps to prepare your home so that buyers can see it in the best possible light. This can help you get the best deal possible. Remove Personal Touches Buyers have a hard time seeing past personal items,so you do not want to give them any reason to walk away from your home without making any offer. Personal photos,trinkets and mementos can turn motivated buyers into uninterested houseguests. Pack up these items and store them elsewhere to make it easier for buyers to picture themselves living in your home. Clear the Clutter Clutter is a turnoff for most buyers,especially those in the Malibu real estate market,so don’t invite people into your home without making sure it is clutter-free. Set aside some time to sort through your belongings and decide if you want to give some of them away. If you haven’t used an item in at least six months,donate it to charity. Not only will this help you clear clutter,it will also benefit someone else. Items that have no use and are not in good enough condition to donate should be thrown away. If you have an unusual book collection,pack it up and put it in storage. Clean off the bathroom and kitchen counters so that you can show buyers clean surfaces. Put the items you need – toothbrushes,toothpaste,floss,makeup – in a small box and store it in the closet when people visit your home. Clean Out Cabinets and Closets Unfortunately,some buyers aren’t content with looking at closed closet and cabinet doors. This means you also need to clean these areas before a showing. When cleaning the cabinets,stack dishes neatly,keep like items together and avoid packing each cabinet to capacity. Your clothes closets should be organized neatly with all clothes facing the same direction. Line up shoes neatly on your closet floor or invest in a shoe rack to keep them organized. Consult a Malibu real estate agent if you need more tips for clearing the clutter and organizing your closets and cabinets. Remove Items You Want to Keep If there are any items you want to keep,such as curtains or blinds,remove them before you start showing your home. You want to show buyers exactly what they will be getting,so you don’t want to entice a buyer with beautiful window valances only to remove them before you move. Cleaning and Repairs Cleaning and repairs are very important when you are trying to compete with other Malibu homes for sale. Wash all of the windows,spray the exterior with a power washer,remove any cobwebs or insect nests from outdoor areas,put new caulking in the tub,mop or wax the floors,replace any ripped carpeting and dust all furniture. As far as repairs,patch holes in the walls,replace cracked tiles,fix faucet links and replace any broken light bulbs. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Those who own Malibu rentals know how important it is to find good tenants. Good tenants pay their rent on time,making it possible for you to earn an income from your real estate investing activities. Timely payments also make it easier for landlords to pay their property taxes and maintain their properties. Good tenants also take care of their apartments and adhere to the terms of their lease agreements. There are several steps a landlord should take to find the best tenants for a condo or apartment. Advertise in the Right Places Many landlords make the mistake of trying to cut costs by advertising in the cheapest publications possible. While reducing expenses is a smart business move,some of these inexpensive publications attract readers who might not make ideal tenants. Invest in local newspaper advertising or advertise your rentals online. This can prevent you from having to screen out dozens of unqualified tenants. Make Your Requirements Clear If you publish a vague ad with your telephone number or e-mail address,you might get responses from dozens of people you would not want as tenants. Make sure your advertisement is very clear about what you expect. If you will only rent to tenants with good credit,specify this in your advertisement. If you do not allow pets,make sure you include this in any advertising materials. This can help narrow down the number of people who contact you,making it easier to screen those who qualify. Marketing the Property How you market your Malibu real estate actually has an effect on the quality of the potential tenants who will contact you. If you take the time to describe the property and post good photos of the unit,you may attract responsible tenants who pay their rent on time. If you post pictures that show an apartment in need of repair,responsible tenants may not want to waste their time contacting you. Interviewing Potential Tenants Renting an apartment without meeting a tenant is one of the biggest mistakes you can make as a landlord. Interviewing potential tenants gives you some insight into how they will behave if they rent from you. It also gives you an opportunity to outline the terms of the lease and let potential tenants know about any relevant restrictions. Background Checks If you own several units in the Malibu real estate market,you should conduct background checks on every tenant you accept. This reduces the risk of a bad tenant damaging your property or committing crimes against other people in your buildings. You should also conduct a credit check if you are concerned about a tenant’s ability to pay rent on time. Credit checks can reveal if a potential tenant has a history of late payments or any civil judgments on their records. Getting this information can also help you decide between two tenants who seem equal in all other respects. If one person has excellent credit and other has only good credit,you might want to choose the person with the better credit history. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Buying a piece of Malibu land can be a dream come true,especially if you have always wanted to live in this prestigious area. However,your dream can quickly turn into a nightmare if you do not ask the right questions. Once you find a suitable Malibu real estate agent,use this list of questions to guide you in evaluating each land listing you come across. Asking these questions can help you avoid wasting time on listings that are not worth visiting. It can also help you avoid paying way too much for your land purchase. Surveying Ask if the property for sale has already been surveyed. A land survey establishes the boundaries of a property,so it is very important that this is done before you make a purchase. Purchasing land that has already been surveyed can help you avoid legal disputes over who can access the property. If you plan to borrow money to finance your purchase,the bank will also require a survey to make sure that the deed is up to date. A survey can also help confirm the current value of the land. Land Access Consider land access before you make a purchase decision. Check to make sure all of the roads leading to the property are adequate. These roads should also be able to handle large vehicles so that your contractor can deliver the building materials when you are ready to build your home. Ask about who is responsible for maintaining the roads. If you are responsible for maintaining the road,it will add to your total expenses. Title Information Always ask if the land has a clear title,as this will make it easier for you to make a purchase. If the title is not clear,the original owner may have to clear up any liens or holds on it before legally transferring ownership to you. An experienced Malibu real estate agent can tell you more about titles and explain why title insurance is necessary when purchasing a property with bank financing. Sanitation Ask if the lot is served by a public sewer system or if septic system installation is necessary. If you need to connect to a sewer system,contact the sewer authority to find information on all fees and costs. If you need to install a septic system,you may need to contact a soils engineering firm for a percolation report. These costs can significantly increase the total cost of buying a piece of land. Restrictions It is important to ask about any restrictions that may be in place. Make sure you find out if a homeowners association has jurisdiction over the lot. You can find this information in the title report or by asking your real estate agent. If the lot is under the control of a HOA,there may be covenant or restrictions in place that you must follow if you buy the land. You should also ask your real estate agent about any deed restrictions on the lot. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Some buyers have a hard time finding even one listing that they like,so it seems like a happy occasion when you find multiple listings that meet your needs. However,this can quickly turn into a frustrating situation,as you may find it difficult to make a choice based on all of the available options. There are several techniques you can use to compare several homes and figure out which one is right for you. Ask your Malibu real estate agent how to use these tips for finding the best home. Meet the Neighbors If you end up with bad neighbors,it does not really matter if the home is beautiful or if it is close to the beach. If you plan to spend the next several decades in one of these Malibu homes for sale,you need to live near neighbors you can trust. You do not have to be best friends,but you should not have to put up with neighbors that do not keep their property neat or neighbors who regularly disturb your enjoyment of your home. If possible,meet the neighbors that surround your favorite listings. Ask them how long they have been in the neighborhood and talk about your shared interests. This can help you get a good sense of which neighbors would be most compatible with your lifestyle. Read Reports Comparative market analysis reports contain valuable information that you can use to make a buying decision. These detailed reports give information about the sale prices of similar homes in the same neighborhood. You will not find pricing information for a 5,000 square-foot home with pricing for a 1,000 square-foot condo since these are not similar,but you will find information for very similar listings. Read these reports to find out if sellers are asking too much for their properties. You can use these reports to narrow down your list of suitable properties. Visualization Savvy sellers are now using home staging to help buyers figure out if they can see themselves building a life in their homes. You can use a similar technique to determine if a home would fit your lifestyle. Look at photos of each home. Can you see yourself eating breakfast in the kitchen or reading the newspaper in the den? Do you think you will be able to get up and down all of those steps when you are older? Does the home have enough room for all of your furniture and personal belongings? Using this technique can help you eliminate homes that just do not meet your needs. Once you have narrowed down your list of options,you can work with a Malibu real estate agent to find additional information to help you make your final buying decision. In addition to helping you find this information,an experienced agent can use his or her considerable marketing expertise to help you negotiate a good deal. This is just one of the ways a real estate agent can help you save a lot of time and money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Malibu banked owned properties are properties that have been repossessed by banks because borrowers failed to make their mortgage payments on time. Once a bank repossesses one of these homes,the home is not making the bank any money. This means that bank executives and asset managers want to sell the home as quickly as possible. Because they are so motivated to sell,buyers may be able to purchase Malibu homes for sale for as little as half of the true market value. However,dealing with bank-owned properties also has some drawbacks. Learn about the major benefits and drawbacks before deciding if this type of sale is right for you. Pricing The major benefit of buying a bank-owned property is that you may be able to pay a lot less than the home is actually worth. Banks want to recoup the loan money they gave to the original borrower,so if a borrower paid off a substantial amount of the loan before defaulting,the bank may be willing to accept less than market value just to get the property off of its books. Unfortunately,not every bank-owned property is listed way below market value. Some are listed only slightly below market value and others are actually listed at market value. This makes it very important that you discuss the deal with your Malibu real estate agent and determine if it will actually help you or hurt you. Process Buying a bank-owned property is different than buying a home from its owner. Instead of dealing directly with the bank,you have to work with an asset manager. Banks appoint asset managers to handle these bank-owned properties and get the best sales prices for them. You need to deal with an asset manager when gathering information and when making an offer. The bank manager has to get approval from the bank before agreeing to sell you the property. This complicated process generates a lot of paperwork and may increase the amount of time it takes to complete the transaction. Risks When borrowers fall behind on their mortgage payments,it is possible that they have also run out of money to maintain their homes properly or pay their bills. This means that the bank-owned home that looks nice on the outside may be a shambles inside. You may find that it would cost you a significant amount of money to make needed repairs. In some cases,you might find that the previous owners left their belongings beyond. If this is the case,you will need to sell or dispose of the items. This takes extra time and effort,so be sure the property is worth it before you make the final deal. Buying Malibu bank owned properties can be a great way to start investing in the real estate marketing,but the process can also be filled with obstacles. If you want to do this type of real estate deal,pick an experienced agent who can help you avoid losing money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. If you are interested in selling or buying one of the many Malibu homes for sale,you may be tempted to go through the process by yourself instead of hiring a real estate agent. This is a novice mistake,as the benefits of having an agent on your side are well worth the added costs. An experienced agent can save you a significant amount of time and money as you navigate the often-confusing process of buying or selling a home. These are just some of the many reasons you should work with a real estate agent. Invaluable Knowledge An experienced Malibu real estate agent has detailed knowledge of the real estate industry and the Malibu real estate market. These agents know who has the best Malibu land for sale,where to find expert legal advice and insurance help,how to find a home that meets your needs and how to make the process run as smoothly as possible. This knowledge can prevent you from buying a home that turns into a problem,saving you thousands of dollars and countless hours of frustration. Working with an agent also eliminates the need to spend hours learning about the real estate market. Your agent can give you all of the relevant information and help you understand any necessary paperwork. Valuable Guidance Real estate agents do not determine the selling prices of Malibu homes for sale,but they can help their clients determine if a price is too high. Agents have access to comparative marketing analysis (CMA) reports,which detail the selling prices of comparable homes in the same neighborhood. Using these reports,an agent can help a buyer determine if he or she should try to negotiate a lower price or if the asking price is similar to the selling prices of other homes in the same area. Professional Network An experienced real estate agent has an extensive network of contacts that can help make it even easier to buy or sell a home. Your agent is not the only person you will work with throughout this process. You will also need a trusted attorney and you may need to work with an insurance agent to secure insurance for your new home. If you do not have any contacts in these fields,your agent can act as a valuable source of information. This information can help you make the right choice when it comes to selecting a legal representative or insurance agent. Deal Negotiation If you hate haggling,having a real estate agent in your corner can be extremely beneficial,especially if you are trying to negotiate a lower price on a home. The best real estate agents have excellent negotiation skills. Additionally,they do not have any emotional interest in the process,so they can think clearly and evaluate all available information before taking action. Your agent’s negotiation skills can help you avoid making a bad deal or getting stuck with a home that is not worth as much as you paid for it. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. A Malibu real estate agent can be a very valuable resource for anyone who wants to buy or sell a home in the area. It is possible to sell your own home,but it is a lot easier if you work with a professional who knows the real estate industry and can help you avoid some of the most common pitfalls of real estate transactions. A real estate agent can also help you save money,as they can help you determine how much to offer for one of the Malibu homes for sale that you view. Follow these tips for building a great relationship with your agent. Respect the Agent Real estate agents usually work on commission,so do not take advantage of their time. If you have no intention of buying or selling a home,do not ask an agent to work with you. Always show up to appointments on time,as agents are busy people who spend a lot of time on the road. Time spent waiting for you could have been better spent closing other deals or following up on leads. Everyone hits traffic or gets delayed from time to time,so if you have to be late,call your agent ahead of time. Discuss Buying and Selling Tactics If you are interested in one of the many Malibu Point Dume homes for sale,ask your agent about the proper protocol for visiting an open house. In some cases,your agent needs to attend the open house with you. If you go to an open house alone,make sure you take your agent’s card with you. Give it to the host of the open house and be sure to state which agent is representing you. Setting Expectations Even though real estate agents have a lot of experience working in the industry,they are not mind readers. You should outline your expectations up front to give your agent a fair chance at meeting them. If you expect an agent to pick you up and take you to an open house instead of meeting the agent there,make this clear. If you want the agent to field phone calls and messages regarding your transaction,make this known as well. Setting realistic goals and expectations can help you avoid problems down the road. Reviewing Documents Your agent should be able to explain every form to you so that you know what you are signing. Do not be afraid to ask for help in deciphering these forms,as your agent wants you to understand what is happening in the process. It is important to note that agents cannot interpret law,so if there is a legal question involved with your transaction,seek the advice of an experienced real estate lawyer. These are just some of the ways you can build a great working relationship with a real estate professional. This relationship can prove extremely valuable to you as you navigate the process of buying or selling a piece of real estate. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Whether you are working with a Malibu real estate agent or you have decided to try to sell your home on your own,you will definitely need to participate in the marketing process. Marketing is something that many people shy away from,but it is an effective way to promote your listing and improve your chances of finding a buyer who will pay as close to your asking price as possible. If you want to reduce the amount of time it takes to sell your home or your Malibu land,use these marketing tips. Network with Others Word-of-mouth promotion is inexpensive and easy to start. If you belong to a local networking group or professional association,let other members know about your listing. These people can share the information with other people they know,making your network more effective and making it more likely that you will attract a potential buyer. Social Media Facebook and Twitter are not just for teens who want to spend their time online. They are very valuable business tools that you can use to market your listing. Create a Facebook profile or Twitter account b y filling in all required profile information and choosing a user name. Let people in your Facebook network know about your listing by posting all of the relevant information. Twitter limits you to 140 characters,so send out a short message with a link to the full listing. LinkedIn,a professional networking site,is also a good resource. Avoid spamming your networks with messages about your listing,as this can reduce the effectiveness of your campaign. Blogging If you already maintain a popular blog,there is no reason you cannot use the platform to market your listing. Be sure to let your readers know that you plan to do this so they are not surprised when you make this kind of announcement. When you make your post,keep it brief. Give all the relevant details and include pictures so interested people can learn more about the property. If you belong to a blog network,ask other network members to link to your listing or post about it on their own blogs. Blogging,when done properly,can create a great deal of interest. Spread the Word Sometimes,good old-fashioned marketing tactics have the greatest impact. Work with your agent to create a flyer that will capture the interest of potential buyers. If possible,hand the flyer out at the supermarket or give it to people at community events. Be sure to get permission from event organizers,if necessary. Your agent might also suggest creating brochures with all of the relevant details and mailing them to people who have expressed an interest in buying Malibu real estate. Find out if a listing service will mark your property as a featured listing. Featured listings typically appear at the top of the page so buyers see them before they see non-featured listings. All of these tactics can help you reduce the amount of time it takes to sell your property. Russell Grether of Coldwell banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Buying a piece of Malibu land can be a dream come true,especially if you have always wanted to live in this prestigious area. However,your dream can quickly turn into a nightmare if you do not ask the right questions. Once you find a suitable Malibu real estate agent,use this list of questions to guide you in evaluating each land listing you come across. Asking these questions can help you avoid wasting time on listings that are not worth visiting. It can also help you avoid paying way too much for your land purchase. Surveying Ask if the property for sale has already been surveyed. A land survey establishes the boundaries of a property,so it is very important that this is done before you make a purchase. Purchasing land that has already been surveyed can help you avoid legal disputes over who can access the property. If you plan to borrow money to finance your purchase,the bank will also require a survey to make sure that the deed is up to date. A survey can also help confirm the current value of the land. Land Access Consider land access before you make a purchase decision. Check to make sure all of the roads leading to the property are adequate. These roads should also be able to handle large vehicles so that your contractor can deliver the building materials when you are ready to build your home. Ask about who is responsible for maintaining the roads. If you are responsible for maintaining the road,it will add to your total expenses. Title Information Always ask if the land has a clear title,as this will make it easier for you to make a purchase. If the title is not clear,the original owner may have to clear up any liens or holds on it before legally transferring ownership to you. An experienced Malibu real estate agent can tell you more about titles and explain why title insurance is necessary when purchasing a property with bank financing. Sanitation Ask if the lot is served by a public sewer system or if septic system installation is necessary. If you need to connect to a sewer system,contact the sewer authority to find information on all fees and costs. If you need to install a septic system,you may need to contact a soils engineering firm for a percolation report. These costs can significantly increase the total cost of buying a piece of land. Restrictions It is important to ask about any restrictions that may be in place. Make sure you find out if a homeowners association has jurisdiction over the lot. You can find this information in the title report or by asking your real estate agent. If the lot is under the control of a HOA,there may be covenant or restrictions in place that you must follow if you buy the land. You should also ask your real estate agent about any deed restrictions on the lot. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Some buyers have a hard time finding even one listing that they like,so it seems like a happy occasion when you find multiple listings that meet your needs. However,this can quickly turn into a frustrating situation,as you may find it difficult to make a choice based on all of the available options. There are several techniques you can use to compare several homes and figure out which one is right for you. Use them to get the best deal possible. Meet the Neighbors If you end up with bad neighbors,it does not really matter if the home is beautiful or if it is close to the beach. If you plan to spend the next several decades in one of these Malibu homes for sale,you need to live near neighbors you can trust. You do not have to be best friends,but you should not have to put up with neighbors that do not keep their property neat or neighbors who regularly disturb your enjoyment of your home. If possible,meet the neighbors that surround your favorite listings. Ask them how long they have been in the neighborhood and talk about your shared interests. This can help you get a good sense of which neighbors would be most compatible with your lifestyle. Read Reports Comparative market analysis reports contain valuable information that you can use to make a buying decision. These detailed reports give information about the sale prices of similar homes in the same neighborhood. You will not find pricing information for a 5,000 square-foot home with pricing for a 1,000 square-foot condo since these are not similar,but you will find information for very similar listings. Read these reports to find out if sellers are asking too much for their properties. You can use these reports to narrow down your list of suitable properties. Visualization Savvy sellers are now using home staging to help buyers figure out if they can see themselves building a life in their homes. You can use a similar technique to determine if a home would fit your lifestyle. Look at photos of each home. Can you see yourself eating breakfast in the kitchen or reading the newspaper in the den? Do you think you will be able to get up and down all of those steps when you are older? Does the home have enough room for all of your furniture and personal belongings? Using this technique can help you eliminate homes that just do not meet your needs. Once you have narrowed down your list of options,you can work with a Malibu real estate agent to find additional information to help you make your final buying decision. In addition to helping you find this information,an experienced agent can use his or her considerable marketing expertise to help you negotiate a good deal. This is just one of the ways a real estate agent can help you save a lot of time and money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. Point Dume juts into the Pacific Ocean,making it one of the best locations in Malibu. This gorgeous bluff also forms one end of the Santa Monica Bay and offers stunning views of Santa Catalina Island and Palos Verdes Peninsula. There are several benefits to buying Malibu Point Dume homes,especially if you can find a home with the best views available. Learn why this is such a coveted area of Malibu and find out more about the history of this area. Outdoor Activities Outdoor enthusiasts will love this Malibu real estate area,as it offers plenty of opportunities for fun in the sun. Rock climbers can enjoy some of the single-pitch climbing routes,which appeal to beginning climbers as well as those who have been climbing for years. Its beach location makes Point Dume ideal for walking,running,swimming and surfing. One tip of this area was designated a part of the California State Preserve,making it even more enticing for those who love to spend time outdoors. Historical Significance This area was originally named for Francisco Dumetz,but it was misspelled on the map. The misspelling stuck,cementing Point Dume’s place in the history books. After World War II ended,settlers planted flowers and trees next to their homesteads,making this a beautiful part of California. These originals homes were replaced by mansions that have sweeping views of the beach and the ocean,making this an expensive area of Malibu. Tourism The travel and tourism industry plays a big role in the local economy. This site has served as a filming location for several popular blockbusters,making Point Dume a favorite stop for film buffs from all over the country. This area also attracts visitors who are interested in lounging on one of the most beautiful beaches in the world. Local bed and breakfasts cater to these travelers and contribute to the economy of this stunning region. Luxury If you are interested in living in the lap of luxury,ask your Malibu real estate agent to show you any available Point Dume homes. After the early homesteads were replaced by mansions,the value of real estate in this area increased dramatically. If you have always dreamed of living within walking distance to the Pacific Ocean or wanted to spend your evenings watching the sun set over the beach,this area might be ideal for your family. Options Because Point Dume is such an expensive area,there are a number of options available for those who want to buy a home. Check out several properties to compare the views offered by each house and find out what amenities are available to you. Ask your real estate agent to narrow down the possibilities according to all of your criteria. The final list of options may be small,but each home on the list will fit your specific needs perfectly. If you want to experience true luxury living and go to the beach every day,consider buying a home in Point Dume. You will cherish the experience for years to come. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
Malibu banked owned properties are properties that have been repossessed by banks because borrowers failed to make their mortgage payments on time. Once a bank repossesses one of these homes,the home is not making the bank any money. This means that bank executives and asset managers want to sell the home as quickly as possible. Because they are so motivated to sell,buyers may be able to purchase Malibu homes for sale for as little as half of the true market value. However,dealing with bank-owned properties also has some drawbacks. Learn about the major benefits and drawbacks before deciding if this type of sale is right for you. Pricing The major benefit of buying a bank-owned property is that you may be able to pay a lot less than the home is actually worth. Banks want to recoup the loan money they gave to the original borrower,so if a borrower paid off a substantial amount of the loan before defaulting,the bank may be willing to accept less than market value just to get the property off of its books. Unfortunately,not every bank-owned property is listed way below market value. Some are listed only slightly below market value and others are actually listed at market value. This makes it very important that you discuss the deal with your Malibu real estate agent and determine if it will actually help you or hurt you. Process Buying a bank-owned property is different than buying a home from its owner. Instead of dealing directly with the bank,you have to work with an asset manager. Banks appoint asset managers to handle these bank-owned properties and get the best sales prices for them. You need to deal with an asset manager when gathering information and when making an offer. The bank manager has to get approval from the bank before agreeing to sell you the property. This complicated process generates a lot of paperwork and may increase the amount of time it takes to complete the transaction. Risks When borrowers fall behind on their mortgage payments,it is possible that they have also run out of money to maintain their homes properly or pay their bills. This means that the bank-owned home that looks nice on the outside may be a shambles inside. You may find that it would cost you a significant amount of money to make needed repairs. In some cases,you might find that the previous owners left their belongings beyond. If this is the case,you will need to sell or dispose of the items. This takes extra time and effort,so be sure the property is worth it before you make the final deal. Buying bank-owned properties can be a great way to start investing in the real estate marketing,but the process can also be filled with obstacles. If you want to do this type of real estate deal,pick an experienced agent who can help you avoid losing money. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades.
The process of buying Malibu land can be a lengthy one,as it often takes quite a while to find the perfect piece of property. There are many considerations to keep in mind when looking for a piece of land,not the least of which is whether the land has been properly surveyed and tested. If you do not want to deal with the potential hassle of buying a piece of land,you have many other investment options available. Contact a Malibu real estate agent to learn more about each option and get information that can help you decide which option is right for you. Houses If the prospect of waiting more than a year for a contractor to build your house does not appeal to you,then buying an existing home can help you realize your dream of home ownership in a short amount of time. There are so many Malibu homes for sale that you can create a list of must-haves and ask your real estate agent to find listings that meet your specific criteria. If you want no fewer than two bathrooms,your agent can help you find this type of home. Now is a great time to own a home because the economic downturn has made it difficult for sellers to get full price for their homes. Interest rates are also the lowest they have been in quite some time,which means it might be very affordable for you to buy a home instead of rent. Rentals Malibu rentals combine the best of both worlds. You can find an attractive rental in an upscale neighborhood without worrying about property taxes or property maintenance. Landlords typically take care of building maintenance and repairs,so if you do not want the hassle of these responsibilities,you might make an excellent renter. One thing to watch out for is higher rental prices. Because so many people have lost their homes to foreclosure,rental rates are higher than ever. This means landlords have a lot of leeway when it comes to deciding how much rent to charge and which restrictions to include in their lease agreements. Condos Condos are an ideal option for those who want some of the benefits of ownership without the responsibility of property maintenance. Malibu has a number of condo properties with beautiful units that are perfect for singles or couples. When you buy a condo,you have to follow the rules of your condo association,so keep this in mind when deciding which type of home is right for you. Condo complexes have staff members responsible for landscaping,parking lot maintenance and maintenance of all common areas,so this living situation is ideal for those who have busy work schedules or spend a lot of time out of town and do not have time to be mowing the lawn. If you are not ready to buy a piece of land,you have several other options. This is one of the major benefits of shopping the Malibu real estate market. Russell Grether of Coldwell Banker Previews International is a real estate agent based out of Malibu,CA. He specializes in Malibu real estate,Malibu homes for sale,Malibu properties,Malibu Land for sale,Malibu rentals and surrounding area real estate from Montecito to the Pacific Palisades. |
