The Why? What? Where? & How? Explained...

1. Why Investment Property? Appreciation & Net Profit

Why do you want to buy an investment property?

Well for more money of course! This breaks down into a profit you will make from the rental income (net profit) and appreciation you will make when you sell the property in the future.

Reasons why people purchased investment properties:

Investors reasons for purchasing real estate for investment appreciation profit

In 2015 Real Estate return on the investment was the top money maker!

That is why real estate has been ranked the top long term investment:

That is why this chief economist says to buy:

Appreciation

Here is the forecasted appreciation from investing in Real Estate on a $250,000 property:

In choosing a property to invest in you are…

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People Shopping For A Home

So if you were thinking of buying a Ponte Vedra Beach or Nocatee home before and now you are not so sure; then here are the questions you should be asking yourself.

1. Why did you want to buy a home before?

I will delve into the financial aspect later on. But before we even get to that; why did you want a new home?

I can't answer why you particularly wanted to buy a home, but a study by the Joint Center for Housing Studies at Harvard University stated the 4 Main Reasons People Buy a Home as:

1. A good place to raise children and for them to get a good education.
2. A place where you and your family feel safe
3. More space for you and your family
4. Control of that space.

Are any of these reasons still true for you? If so you should…

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 Home Buying Basics

Buying your home is a very exciting time. In order to keep on track and not let your emotions make your decision; you should prepare and plan.

Factoid: Only 46% of all recent buyers considered themselves "ready to buy" when they purchase their home.

So evidence goes to prove that finding the home of you dreams can happen quicker than you think. And in this market you need to act fast to grab the home you like before it is gone. As the old real estate saying that goes "If you like the home today and you want to think about; just remember someone probably looked at yesterday and have already made their decision."

So how do you prepare for your purchase?

#1 Check Your Credit Score

Amazing enough many buyers…

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Help making a decision when buying a home in multiple offer situation

What Does Multiple Offers Mean?

When your Realtor tells you that there are Multiple Offers that simple means someone else is also bidding on the property. This could be one other buyer or multiple other buyers.

Usually, the listing agent will give a written notice when a Multiple Offer situation occurs. Along with the notice, you will often receive a "Highest and Best Offer" deadline. The deadline is usually 24 hours from the date of the notice. I am saying "usually" because it is the seller's decision on how they want to react the multiple offers. One offer might be so good that they decide to go ahead and negotiate with them instead of letting everyone know there are multiple offers.

What to do in Multiple Offer Situation?

This means you…

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Maybe you had considered a condominium in the past and decided against it. Maybe you just started home shopping. Maybe you don't realize the difference between a townhome and a condo.

Well you should consider a condominium again. There are many advantages to living in a condo. The lower price. The low maintenance. The lifestyle. Take your pick and you can see a condo may be right for you.

To learn more about the advantages of buying a condo please visit our article or click on the infographic below:

 

To search for condos for sale click here.

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I recently had a client contact their insurance company regarding a house they were interested in the Intracoastal West area of Jacksonville. The out of town insurance company said they couldn't insure the property because it didn't pass their sinkhole test! Well after 20 years helping people buy and sell their homes, I have to say this was a new one for me.

I have had home buyers concerned about mosquitoes, alligators, snakes and even one time our small lizards. But sinkhole?

I am by no means an expert and I gave the client information to contact the local geologist familiar with our area. But this is the information I was able to find online:

1. Sink Hole Map 2008 (none in that area)…

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[VIDEO]

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Many people are considering whether they should rent or buy. But your monthly rent is higher than your mortgage payment if you bought a home in all of the largest metros by an average of 38%. Rents have also been rapidly rising. But if you are not worried about the cost than you should consider the wealth building factor. Homeowners net worth is over 30x greater than renters. Learn more about what were the deciding factors for people deciding whether to rent or buy.

In a recent press release, Zillow stated that the affordability of the nation’s rental inventory is currently much worse than affordability of the country’s home sale inventory. The release revealed two things:

  1. Nationally, renters signing a lease at the…

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10 Reason to Own Your Own Home

#1 Paying rent is not a good investment

#2 It motivates you to become a better citizen and engage in important civic activities

#3 You want more living space to move around

#4 It means having a good place to raise children and provide them with a good education

#5 It provides a good financial opportunity

#6 You can select a community where people share your values

#7 It's a symbol of success and achievement

#8 You start building family wealth

#9 It's investing in your retirement

#10 Owning a home provides tax benefits

Learn more about buying a home by clicking here.

Credits: Keeping Matters Currents

The Phyllis Frankel Realty Group specializes in waterfront and luxury property. The realtors have been in…

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Mortgages: Different Types Available

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Financing is available at all different price points and down payments for your home search. VA & USDA allow for 0% financing but have additional fees and you have to qualify for. FHA loans can be used for a wide variety of products and require just 3.5% down but have additional fees. For the rest you have conforming and jumbo loans that require for the most part 10% down but there are some 5% down conforming loans out there.

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You find the home of your dreams, and you are thrilled. It has the secluded backyard, the master suite, and the massive walk-in closet you have been dreaming about. The only problem is that the home of your dreams is simply priced too high. After a talk with your realtor and a close look at the comparable sales in the area, you know that the jacksonville florida real estate is simply overpriced for the market. What do you do? Sit back and wait.

Chances are an overpriced home will simply remain on the market. Once a home has sat for a few months, you will likely see a price reduction. That may be the time to pounce, as the home sellers at that point are aware that their home is priced too high for the market. However, waiting it out could backfire on…

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