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Getting your House Ready for Sale

by Kijner & Sons International Realty

Most homebuyers will prefer a home that’s in turn-key, move-in condition. When looking at a home, buyers want to focus on what’s great, not what needs fixing or is in poor condition. Sellers can do a lot to make sure their home shows well and will get better offers than those that are in obvious need of TLC. The idea here is to take the attention off areas of superficial concern that buyers might otherwise focus on. Every negative adds up in the buyer’s mind, so it’s wise to do some basic updates and repairs before the home goes on the market.

Update Kitchen & Bathrooms

While a complete kitchen or bath remodel may not be possible or practical – and may not give a full return on the investment – some updating of these rooms will go a long way in appealing to potential buyers. In many neighborhoods upgraded and updated kitchens and baths are the norm and anything less will be looked upon negatively.

If the stove and refrigerator are clearly old and in less than perfect condition, they should be replaced. An updated kitchen faucet is another nice touch that doesn’t have to cost a lot. In the main bathroom, have the tile flooring professionally cleaned and the grout sealed. If the tile floor is in bad shape, replacing it with new, basic tile will make it a non-issue. Here, too, an updated faucet is often a good choice. If there is a shower curtain, replace it with a new, neutral style, or better yet, remove it altogether for a tidier appearance.

Clean or replace carpets

It should go without saying that carpets should be shampooed and in good condition. If the carpet looks worn and stained, the best choice is to simply replace it. The same goes for kitchen flooring – if it’s in bad shape, new flooring is the way to go. Depending on the situation, a new floor can often be installed right over the old one, which can mean less work and cost. Any replacement flooring should be neutral colored and does not have to be top-of-the line quality; the most important thing here is that it looks good and does not draw negative attention.

Enhance the Outdoors

Outdoors, replace any missing or damaged fence boards. It may be obvious that they’ve been replaced, but that’s preferable to leaving the fence in bad shape. Shrubs should be trimmed and kept neat, and weeds pulled. A thick (and quick!) application of bark mulch will help planting areas look clean and neat instead of a mess the new owner will have to deal with. Check around the exterior for any peeling paint or cracks that can present themselves as problems if not corrected.

Above all, remember that a buyer will have a better impression of a home that looks its best. After all, one of the first impressions you want a buyer to have is “It looks like this home has been well taken care of” – and let the home shine.

For more tips that will help you get your house ready to sell, just click here.

Are you looking to sell or buy a house, a condo, a villa or an apartment in Miami Florida or New York City? Do not hesitate to contact us at 
info@kijner.com or visit us at www.kijner.com

2014 Profile of Home Buyers and Sellers

by Kijner & Sons International Realty




Kijner & Sons International Realty is pleased to present the National Association of Realtors® (NAR) 2014 study, an annual survey of recent primary residence home buyers and sellers based on demographics, housing characteristics and the experience of consumers in the housing market such as the role that real estate professionals play in home sales transactions. This survey gives us information on trends and changes from the consumers' viewpoint on one of their most important life purchases.

The report covers the following subjects:
> Characteristics of Home Buyers
> Characteristics of Homes Purchased
> The Home Search Process
> Home Buying and Real Estate Professionals 
> Financing the Home Purchase
> Home Sellers and their Selling Experience
> Home Selling and Real Estate Professionals 
> For-Sale-by-Owner (FSBO) Sellers

To download the highlights from the "2014 Profile of Home Buyers and Sellers", click here

Interested to learn more? You can purchase and download the full NAR survey here

Are you looking to buy or sell your Miami House or your Miami Condo? Are you looking for investment opportunities in the Greater Miami Area? We can help as we know the Miami, Florida housing market inside out! Contact us today at info@kijner.com

How can the influx of overseas buyers be a boon to your business?

by Kijner & Sons International Realty


Kijner & Sons International Realty
is pleased to share with you a recent article entitled "How can the influx of overseas buyers be a boon to your business?" featuring Daniel Kijner in the January-February 2014 issue of The Residential Specialist, an award-winning bimonthly magazine published by the Council of Residential Specialists (CRS)*.

CRS member and senior broker owner of KSI Realty, Daniel Kijner is interviewed by Gwen Moran in a piece based on a 2013 report from the National Association of Realtors® on International buyers activities in the United States. As a Realtor® in Miami, Florida with Fortune International Realty, Daniel who works with overseas investors on a daily basis, shares his thoughts on why motivates international buyers to invest in the U.S. and how important it is to understand their cultural differences and mindset to establish trust and a successful business relationship.

To read the full article, please see below.   

Questions? Comments? Are you looking to invest in or relocate to Miami or Sarasota, Florida? We can help! Contact us today at info@kijner.com

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*"The Council of Residential Specialists is a professional network of nearly 33,000 residential real estate professionnals from across the country and around the globe (...) commited to achieving success in helping their clients and customers complete a home sale or purchase":
 https://crs.com/about-us

REALTORS® Confidence Index

by Kijner & Sons International Realty


Kijner & Sons International Realty
is pleased to present you the REALTORS® Confidence Index based on data gathered from the 1st to the 8th of November 2013. The data reflect transaction activities in October 2013 and how Realtors® foresee housing demands in the coming months based on fiscal and monetary policies but also flood and homeowner insurance rates. 

According to the National Association of Realtors® (NAR), "[t]he REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market."

To download the full NAR Report, please click here or on the image below



Specialty Mortgages: Risks and Rewards

by Kijner & Sons International Realty

In high-priced housing markets, it can be difficult to afford a home in Miami or Sarasota Florida. That’s why a growing number of homebuyers are forgoing traditional fixed-rate mortgages and standard adjustable-rate mortgages and instead opting for a specialty mortgage that lets them “stretch” their income so they can qualify for a larger loan.

But before you choose one of these mortgages, make sure you understand the risks and how they work.

Specialty mortgages often begin with a low introductory interest rate or payment plan - a “teaser” - but the monthly mortgage payments are likely to increase a lot in the future. Some are “low documentation” mortgages that come with easier standards for qualifying, but also higher interest rates or higher fees. Some lenders will loan you 100 percent or more of the home’s value, but these mortgages can present a big financial risk if the value of the house drops.

Specialty Mortgages Can:

  • Pose a greater risk that you won’t be able to afford the mortgage payment in the future, compared to fixed rate mortgages and traditional adjustable rate mortgages.
  • Have monthly payments that increase by as much as 50 percent or more when the introductory period ends.
  • Cause your loan balance (the amount you still owe) to get larger each month instead of smaller.

Common Types of Specialty Mortgages:

  • Interest-Only Mortgages: Your monthly mortgage payment only covers the interest you owe on the loan for the first 5 to 10 years of the loan, and you pay nothing to reduce the total amount you borrowed (this is called the “principal”). After the interest-only period, you start paying higher monthly payments that cover both the interest and principal that must be repaid over the remaining term of the loan. 
  • Negative Amortization Mortgages: Your monthly payment is less than the amount of interest you owe on the loan. The unpaid interest gets added to the loan’s principal amount, causing the total amount you owe to increase each month instead of getting smaller.
  • Option Payment ARM Mortgages: You have the option to make different types of monthly payments with this mortgage. For example, you may make a minimum payment that is less than the amount needed to cover the interest and increases the total amount of your loan; an interest-only payment, or payments calculated to pay off the loan over either 30 years or 15 years. 
  • 40-Year Mortgages: You pay off your loan over 40 years, instead of the usual 30 years. While this reduces your monthly payment and helps you qualify to buy a home, you pay off the balance of your loan much more slowly and end up paying much more interest. 

Questions to Consider Before Choosing a Specialty Mortgage:

  • How much can my monthly payments increase and how soon can these increases happen?
  • Do I expect my income to increase or do I expect to move before my payments go up?
  • Will I be able to afford the mortgage when the payments increase?
  • Am I paying down my loan balance each month, or is it staying the same or even increasing?
  • Will I have to pay a penalty if I refinance my mortgage or sell my house?
  • What is my goal in buying this property? Am I considering a riskier mortgage to buy a more expensive house than I can realistically afford?

Be sure you work with a REALTOR® and lender who can discuss different options and address your questions and concerns!

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Sources:

Learn about the National Association of Realtors® Housing Opportunity Program at www.realtor.org/housingopportunity.

For more information on predatory mortgage lending practices, visit the Center for Responsible Lending at www.responsiblelending.org.

 

Displaying blog entries 1-5 of 5

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83-85 Boulevard de Charonne, 75011 Paris, France


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