Nowadays, most individuals start their real estate search online. Most people will skip right by listings with poor or no photographs. This makes real estate photography incredibly important in the marketing of your property. Here are some tips to get better photos that will lead to more buyer interest and hopefully a quick sale!
While browsing through the current listings I am sure you came across some beautiful condos/homes with what seem to be unrealistic prices. Did you inquire about these properties wondering if the price was entered wrong or if they are a scam?
Take for example beachfront, 1,555 square foot, 2-bed condo right in Kahala, one of Oahu’s most prestigious neighborhoods for just $120,000.
These properties are called “Lease-hold” (LH) ownership as opposed to “fee-simple” (FS). Fee-simple ownership is what you may already be familiar with. FS ownership is the most complete, meaning you own the land and any improvements made on the land.
With LH ownership you own the unit/house while you pay the lessor a monthly lease rent for use of the land. As the lessee, you don’t own the rights of the land, just the ability to use it exclusively, or freely transfer ownership for the remaining years of the lease. The lease will usually include a clause providing that any improvements such as a home or building will be surrendered to the FS landowner upon expiration of the lease.
When purchasing a LH property, as the buyer, you are responsible for property taxes, maintenance fees, a monthly lease-rent, and your mortgage, if financed. It is important to factor in all variables when budgeting and predicting cash flow. If you need any support with this you, you could follow the lead of my friend who benefited from the mentoring services of BREIA of Fort Lauderdale. This helped her to develop skills courtesy of the development training. It’s important to understand all aspects of buying a property prior to purchasing.
Often times, lessors offer a “fee conversion,” where they sell their leased fee interest land to leasehold owners, so it is possible to obtain FS ownership on certain LH properties. Don’t count these properties out when consulting with your Realtor.
When it’s time to choose a real estate agent, it can be an overwhelming experience trying to find enough information to properly qualify them and determine the right mix of performance and fit for your personality. Many of us are fortunate enough to get a recommendation from friends or family but most will randomly hire someone from an advertisement or because the agent is a “friend of a friend.” Here are a few tips to help you decide if your agent is right for you:
Looking to sell your house? Here’s a list of 15 low-cost improvements that will have all your viewers swooning!
1.) Pay attention to landscaping. Good curb appeal can go a long way to lure in potential buyers.
2.) Have a beautiful porch? Make sure it’s well kept. Eliminate all the unnecessary objects that don’t add value.
3.) Mow the lawn.
4.) Touch up old paint. You want both the inside and outside of the house to look clean and kept up.
5.) Thoroughly wash down all windows and doors.
6.) Clean the countertops in the kitchen and bathroom.
7.) Make all the beds. This should be obvious.