Increasing Investment Potential: Mary Iannaccone Overview

Increasing Investment Potential: Mary Iannaccone Overview

Buying or selling a house is one of the biggest decisions most people will ever make with their finances and their lifestyle. Getting the best bargain in the purchase or making the most profit on the sale give buyers and sellers so much to think about that many may never stop to consider keeping that old house - or buying another - as an income-generating property. But the rewards, in savings and profits can be high.

Mary Iannaccone an ERA Justin Realtor agent offers, “One option for buyers who otherwise might consider home prices beyond their reach is the property that pays for itself: a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage tax consequences change and you should verify information with your tax consultant. Rental units can be depreciated over time; considered to offset the rental income. This can lower your taxes on that income. At the same time, the rent's addition to your finances helps you qualify for a larger mortgage, and investors who occupy their rental properties can, under certain conditions, get interest rates lower than those who do not. Of course you'll want to decide if the demands of being a live-in landlord are for you, and explore if rent-control laws in your area might limit the return on your investment. If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-tern familiarity with the home's features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you'll first want to calculate whether the rental income will make up for the needed expenses. This is another consideration in which a qualified real estate sales professional can help, with the local rental market and its prospects over time. And of course being a long-distance landlord has special concerns, so you have to enjoy the challenge and be ready to meet the needs.

You may even prefer a fixer-upper to your familiar former home. With a thorough inspection to answer any questions, and a realistic budget and disciplined schedule to handle all improvements, your outlays may prove to be well worth it. Renovations can range from reconfiguring the floor plan to simply replacing now-unfashionable décor.

Owning an income-generating property is not for everyone, but - from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years - it can be for all kinds of people. Talk to a real estate sales professional at ERA Justin Realty to find out if rental property is what you seek.”

Mary concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. We live it every day. We proudly received the prestigious ERA world-wide ‘Commitment to Excellence Award’. All across the nation, the most sought award that can be achieved in business is the ‘J.D. Power & Associates’ award. Only outstanding business entities are honored and receive it. ERA Real Estate was the recipient of ‘Highest Satisfaction for First Time Home Buyers and Home Sellers Among Full Service Real Estate Firms.' For these reasons ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice since beginning in business in 1950.

 

 

Fixer Uppers a Reality for Buyers in Improving 2013 Real Estate Economy

Carol Darby, Ron Darby and Jennifer Darby Metzger broker co-owners with combined real estate knowledge and experience approaching 100 years gives this team the background to lead their ERA Justin Realtor salespersons to continuous success. The firm, a trusted name in real estate since 1950 suggests purchases of fixer uppers as good choices for the Fall 2013 market.

Fixer Uppers a Reality for Buyers in Improving 2013 Real Estate Economy

Several years ago when the housing market was mired in real estate recession, buyers shied away from houses that needed work. The buyers who weren't put off from buying completely were interested only in turnkey homes that were in move-in condition. ERA Justin Realty has worked within all real estate economic landscapes, is well versed, assists its buyers and sellers and has been your trusted name in real estate since 1950. As we enter the Fall 2013 market, there are many buying and selling opportunities for all.

Carol Darby, ERA Justin Realty broker co-owner offered, "It was risky for some buyers to buy a house that needed work. But now the housing market is recovering and buying a house to fix up seems more reasonable, and is happening. There are basically two types of  'fixer' buyers. One is the flipper who buys a house, spruces it up quickly and sells it at a profit. The goal is not to hold the property as an investment, but to find a buyer as soon as possible after the redo is complete.

Flippers should avoid buying houses that have major problems to remedy, which will eat into profits. A way to maximize profit and minimize carrying costs during the rehab period is to understand the lower price market and if possible buy with all cash. Buy in areas where employment and transportation are good so that you will have a pool of buyers for your product when it’s ready to sell."

Jennifer Darby Metzger, broker co-owner added, "Select the neighborhood. Is it conveniently located? Are houses selling quickly? What is the average days on market from list date to sale date? This information is critical to knowing how fast you can turn the property over to a new buyer. The other type of fixer buyers are those who buy for their own use. They do not intend to flip the property, but want to increase the value of the property over time while providing a roof over their heads. This type of buyer may be willing to pay more for a property than the flipper, but the price paid and the amount spent on improvements should be researched before making a purchase. Ask our ERA Justin Realty team for the sale price of recently sold houses in the neighborhood that were similar to the one you’re considering, but in much better condition. Be sure to review how much the renovations will cost."

Ron Darby, broker co-owner concluded, "Keep a close eye on the costs of your renovations while you’re working on the project. There’s always the temptation to improve more than you had intended once you see how good the improvements you have made look. Even though you’re improving the house for yourself, remember that you will be selling someday and hope for a profit on the time and money you invested. It’s a great time to buy at prices that were not possible at the peak of the market. Just make sure you know values for the neighborhood for a property that needs work. Fixer buyers who paid high prices at the peak of the last market cycle possibly didn't make a profit. The housing market has picked up and will hopefully continue to move in a positive direction. However, the house sale market is continually changing and varies from one location to the next.  A well-informed, level-headed approach is the best bet and our ERA Justin Realtor salespersons can provide you with information so you can make an informed decision."

There is a difference in real estate companies and the ERA Justin Realty broker owner's input makes that difference important. In fact, their buyers and sellers have put their reviews in writing about their Realtor salespersons. They have on file for the asking, 'Real Estate Results In Writing,' their report of nearly 800 quotes, testimonials and reviews from their buyers and sellers.

All of the ERA Justin Realtor salespersons can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue, by office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Also view 1000's of homes at their websites at www.ERAJustin.com and www.ERAJustinRealty.com.

Increasing Investment Potential, An ERA Justin Realty Overview

Lifetime membership in the New Jersey Association of Realtors Distinguished Sales Club for 14 years of Bronze and Silver Circle of Excellence Awards, Cathy Vick of ERA Justin Realty provides outstanding service to her buyers and sellers. Her overview of investment properties may fill the gap for readers. 

Increasing Investment Potential, An ERA Justin Realty Overview

Buying or selling a house is one of the biggest decisions most people will ever make with their finances and their lifestyle. Getting the best bargain in the purchase or making the most profit on the sale give buyers and sellers so much to think about that many may never stop to consider buying another as an income-generating property. The rewards in savings and profits can be high.

Cathy Vick a Realtor salesperson with ERA Justin Realty for thirty years was selected as Realtor of the Year by the RealSource Association of Realtors with 3,500 members who shared “One option for buyers who otherwise might consider home prices beyond their reach is a property that helps pay for itself; a house you live in part of and rent the rest of. This offers not only an obvious balance of cost and income, but perhaps lesser-known benefits in taxes and mortgage that you should consider with your tax advisor. The rental units can be depreciated over time and considered to offset the rental income. This may lower your taxes on that income. At the same time, the rents addition to your finances helps you qualify for a larger mortgage, and investors who occupy their rental properties can, under certain conditions, get interest rates lower than those who do not. Many mortgage lenders provide varied mortgage programs. Our menu of mortgage lenders will provide updated information when you begin your home search. We can tell you more. Of course you'll want to decide if the demands of being a live-in landlord are for you, and explore if rent-control laws in your area might limit the return on your investment. If being an offsite landlord is more appealing, you could always keep your current home as a rental after you move into the new one. Your long-tern familiarity with the home's features and condition could lend a certain confidence both to yourself and your potential tenants. As with any investment property, you'll first want to calculate whether the rental income will make up for the needed expenses. This is another consideration in which one of our qualified real estate sales professionals can help with his or her knowledge of the local rental market and its prospects over time.

If you are pleased with the prospects, then you may even prefer a fixer-upper to your familiar former home. With a thorough inspection to answer any questions, and a realistic budget and disciplined schedule to handle all improvements, your outlays may prove to be well worth it. Renovations can range from reconfiguring the floor plan to simply replacing now-unfashionable decor.

Owning an income-generating property may not be for everyone, but, from younger buyers offsetting their purchase costs, to seniors easing the expenses of their retirement years it can be for many kinds of people. Talk to a real estate sales professional at ERA Justin Realty to find out if rental property would be double trouble or two times the success for you personally.”

Vick concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase.  We live it every day.  Because of our daily priorities, we proudly received the prestigious ERA world-wide 2003- 2012 ‘Commitment to Excellence Award’ a select few from approximately 30,000 ERA brokers and agents from all across the ERA nation."

Vick and all of the ERA Justin Realty full service sales professionals can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue.  By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD.  Additional cutting-edge real estate technology information awaits you at their winning search websites at www.ERAJustin.com and www.ERAJustinRealty.com.

 

ERA Justin Realty brings National Speaker Tom Lundstedt to Bergen County

After being invited to speak at a recent Realtor business conference attended by thousands of brokers and agents throughout the tri-state area, his impact was very positively received. ERA Justin Realty's Wayne Kubs suggested that his firm host and bring Tom Lundstedt to Bergen County so his valued information could be shared with those interested in investment real estate and other real estate interests.

Lundstedt has spoken to thousands of audiences throughout the United States. He is a recognized expert on the subjects of investment real estate and taxation. A former major league baseball player with the Chicago Cubs and Minnesota Twins, Tom has a unique ability to present complex information in an entertaining and enlightening way. Additionally, his enthusiasm, humor and sports background make him a popular speaker.

Tom holds a bachelor's degree in business administration from the University of Minnesota as well as the prestigious CCIM designation from the National Association of Realtors® and is well versed in his topics including, building wealth through real estate, how to analyze a property before you buy, four ways to save on taxes and when to sell to maximize your return on equity. Time will be set aside for an extended question and answer period.

The event is Wednesday, May 15, 2013 at the Rutherford Elks Club, 48 Ames Avenue, Rutherford from 6:00-8:30 PM. Area residents are invited at no charge or obligation. Space is limited and registration is necessary by calling the reservation hotline at (201) 500-7502 or here.

Wayne said, "After attending Tom's real estate speaking engagement, we knew that his seminar would be perfect for area real estate investors, first-time and repeat buyers and those who would like additional information on these topics. We are excited to host this event for those in Bergen County and look forward to welcoming everyone. "