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Nathan Bangs Tampa Florida Real Estate Blog

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Displaying blog entries 1-10 of 460

Is Buying An Investment Property Right For You?

by Nathan Bangs

 

Buying an investment property can have a big impact on your financial future. Real estate is a way to leverage more money for retirement, education expenses, elderly care or as an emergency liquidation tool. An investment property can also give you another revenue stream if you choose to rent the property.


But how do you know what property to invest in? You need to do your research to determine your return on investment. Here's a few things to consider:


Location.

Will you be renting out the property? If so, are you going to be the call person? If the answer is yes to both of these questions, then the scope of your search should be close to where you normally reside. You need to know if the neighborhood is appreciating. This can be determined by looking at Labor Statistics, business development (new business arriving nearby), crime statistics, green spaces like parks, school ratings and the feel of the neighborhood.


Demographics.

Who would be buying or renting your investment property in the future? You need to have a good understanding of who likes to live in the area that you are focusing on. A neighborhood that is very family oriented needs housing that is indusive to family living like a single dwelling home with two bathrooms. Neighborhoods near colleges and universities are going to have a high turnover of students looking for short-term housing options.


Cost to Maintain.

With every property, there are annual costs. Costs on your investment property can include property taxes, homeowners insurance, extra insurance demands like flood insurance, possible condominium association fees, and internal or external maintenance. You will be smarter to be realistic in these values.


One of the best ways to accumulate a real estate asset, is by buying it in cash. There are some real gems for the cash buyers that can offer a high return on investment. However you choose to approach your real estate investment, work with a Realtor that you can trust. They are going to help guide you and often have a great deal of knowledge regarding neighborhoods and possible appreciation. Good luck growing your wealth!


For more information: visit the website webuyhouses.com

Rents are Rising

by Nathan Bangs

In cities across the country, rents are rising. Rental affordability has always been a problem in big city living, like in New York City or San Francisco, but this year even smaller cities are feeling the impact of rising rents. As a Realtor, I see this trend in our Tampa/ St. Pete community as well, especially in locations that have urban appeal. The Forbes infographic below shows that rents are clearly rising all over the country. Annual-Change-In-Rent-_chartbuilder.png

And according to Stan Humphries, Chief Economist at Zillow, this trend is not showing any signs of slowing down. He says, ““Rental appreciation has been a freight train these past few years, chugging along without any appreciable slowdown,” said Stan Humphries, Chief Economist at Zillow.


While this makes it difficult for renters whose incomes may not be rising at the same pace as the rent hike, for homebuyers this is good news. The  rising rent trend means that renting a property is easier and more lucrative than it has been in year’s past. Consider now the time to buy a home and make money from it as a rental property. There are plenty of values on the market that would make a good investment for rentals.  


Check out the full article at http://www.forbes.com/sites/laurengensler/2015/02/24/rising-rent-smaller-cities/

To find listings in your area, email me at ForSale@NathanBangs.com.


How To Prepare Your Home to Sell

by Nathan Bangs

 

 

Before you list your home, there are a few things you can do to make sure you sell your house quickly and for the highest value possible. You may not have the money for a full kitchen renovation before the sale date, but some minor changes can tremendously improve your selling possibilities.

 

As a top selling Realtor with years of experience, here are my top 5 Quick and Easy Ways to Prepare Your Home for Listing:


1.    Clean

Cleaning up the interior and exterior of your home is the first step in preparing your home. Pressure wash the outside of the home, clean the windows, and sweep the steps. The front of your home gives the buyers their first impression of your home, and it matters- a lot! I’ve seen buyers decide to skip a home viewing just because they didn’t like the feel of the outside.

 

Once your outside is neat and tidy, get the inside to sparkle, too. Wash windows, walls, toilets, sinks, floors and all surfaces so there isn’t a speck of detectable dust. Dust will make everything in your space feel dingy and old. Make sure curtains and linens are clean too. Once clean, then dedicate 10 minutes per day to maintaining this cleanliness.

 

2.    Make it smell nice

Of all the senses, the sense of smell is one of the most evocative of memories and emotions. If your house smells like a stale version of your morning breakfast, your buyer may get turned off from the first whiff. Everyone loves the smell of fresh cookies. Bake or buy candles that evoke the smell of vanilla, cinnamon or even a calming lavender. Just don’t bombard the air with incense or an overdose of room freshener. Some people are very sensitive to these odors and will get a headache. Then your home will remind them of pain and being unhappy- not good.

 

3.    Clear out the clutter

Rooms should look spacious and like they hold a purpose for living. Instead of dumping all your extra gear in the backroom, make it look like it is useful space for a reading nook or small office. Go through your house room by room and see where you can eliminate clutter so that the flow seems more relaxed and generous. Personal photos and tchotchkes also need to be removed.

 

4.    Paint

A calming, neutral palette is more appealing to a wider scope of people. If you have loud, dark or interesting wall colors, consider revising them before you have

walk-throughs. Also, fix any wall scuffs, nail marks, etc. with paint to create a cleaner look. Baseboards and trim look best when glossy and clean.

 

5.    Organize closets

Closet and storage space are always important to buyers. They are going to open your closets, and if they look jammed, it suggests that there is not enough room in this house to hold all of their things. Clear out, give away, put in storage, loan out...do whatever you need to do to make your closets look roomy and organized. Labeled storage containers and shelves can be very useful in maximizing the space.

 

Take the time to do these things, and you will be rewarded at the sale date. For more tips and help selling or buying your home, contact me today.










 

Single Family Home Sales Up in Tampa Bay

by Nathan Bangs

With much of the United States experiencing record cold for the Winter of 2015, home sales here in the Bay area are on the rise. According to the Tampa Bay Times, January's median sale price for single-family homes in the greater Tampa Bay area rose 6.4% above last year's sale prices. If you are considering selling your home or looking to buy a home, don't wait too much longer. The Tampa Bay area is growing and beginning to experience a revitalization in many of the urban centers as people want to be able to walk or ride their bike to restaurants, shops and nightlife.

For full article visit: http://www.tampabay.com/news/home-sales-booming-in-tampa-bay/2218753

Advice for the Elderly Home Seller

by Nathan Bangs

Advice for the Elderly Home Seller

 

Making the decision to move into an assisted living facility or a nursing home can be one of the most emotional experiences a family encounters. Emotions run deep and stress levels high during this very difficult time. For the elderly, these homes may have been filled with a lifetime of memories and moving on to a new life situation can be depressing and overwhelming in many ways.

 

When your family is faced with this, you want the move to be as smooth as possible. As a Realtor, I often advise people in this situation of their option to find a cash buyer. Having a cash buyer has been advantages for the elderly home seller:

 

-No Realtor Fees

When there is a cash buyer, the homeowner does not have to pay any Realtor fees saving potentially thousands of dollars

-No Home Staging or Costly Repairs

Depending on the health of the elderly person and the level of supportive people around him or her, there may have been some deterioration in the home. A house needs to look inviting, tidy and be in good shape to sell on the market. Many times the elderly homeowner or the family member assisting the elderly with the move, do not have the energy to deal with all the work this entails

-No People Coming Through the Home

With a cash sale, there are no safety concerns about people coming through the house day in and day out. A cash buyer will come in, make the decision and then make the offer. You do not have to plan for any more visits by strangers.

-Get Money Quick

The elderly homeowner will typically have their cash within a few days. Getting the money quickly gives them the freedom of cash in the bank without a lengthy closing or extended time on the home sales market.

-No Hassle Closing

There are no surprises at the closing table. You don’t have to deal with financing, banks and the complications that arise with negotiating a loan.

 

While there are many alternatives for the elderly homeowner seeking selling advice, the main thing to consider is what makes the most sense to facilitate an easy transition. If you are interested in more information on selling your home for cash, I work with a team of reliable investors in the Tampa, FL area. Call me today.



How to Sell Your Home With a Realtor

by Nathan Bangs

Selling Your House With a Realtor

 

Selling Your House With a Realtor


When you sell a home, you want to make the most money possible. Usually, before you have put the sale sign out, you have already planned out where the profits will go from selling your home. Another new home, college, travel, retirement... whatever it may be, you want those profits to be maximized. You may consider listing the home yourself to save the Realtor fees, but consider this, a good Realtor is your best chance in maximizing your sale profit.


Here are the top three ways a Realtor can help you list your home and maximize sale profits:


1. Your Realtor is Your Partner

A good Realtor wants to sell your house for the highest value possible and if they have been in the real estate business for many years, they know exactly what that figure is. They are skilled at "staging" your home so that is most appealing. They know the staging tricks to increase the selling value of your home. For instance, how crammed are your closets? Storage is a huge value to the buyer so making closets and cabinets look roomy is a key.


2. Make Necessary Home Repairs

Most homes need some updates or repairs that will increase the home's selling value. Don't invest your money in these until you contact your selling agent. Think you need to remodel the kitchen? Maybe you don't. According to a Realestate.com Poll, a remodeled bathroom was more important than a remodeled kitchen. Remodeling a bathroom is much less expensive than remodeling a kitchen. Maybe the kitchen just needs a fresh coat of paint. Your Realtor will know what repairs will maximize the value of your home.


3. Important Connections

Most Realtors have developed connections with reputable people in your community. When they help list your home, they have a vested interest in you getting quality repairs and help from good people. They can refer contractors, home inspectors, and potential buyers. Listing with an agent means more people will be able to find your home. If you are looking for a cash buyer, they can also help you reach a potential buyer that is not going to scam you.


The value and security you get from hiring a Realtor as your listing agent more than pays for the commission they receive from your home sale. That commission may even be less than the cost of the kitchen remodel you almost went through with.


Please, call me today to list your home. Thanks ~ Nathan Bangs

What to Look for in a Condominium, or Condo Purchase

by Nathan Bangs

 

Buying a condo can be a fantastic option for a homebuyer. Condos provide you a break from the property maintenance responsibilities that go along with owning a home and often offer luxury amenities, like a jacuzzi spa or a fitness room. Imagine sitting by the pool or exercising on the elliptical machine instead of mowing the grass every weekend? They can also provide the opportunity to live in a neighborhood that would be over your budget in home buying. Especially here in Florida, with all our coastal communities, condos can be your chance for waterfront living and tremendous views.

 

When researching condos in your desired region, look for the biggest unit possible within your budget. Condos that have more than one bedrooms are easier to resell. Also, condos that have nice views, convenient parking and space for storage are also appealing to a broader market. If you are a cash buyer, you may be able to find some real deals in the condo market too.

 

Once you decide on a condo, be sure to have a clear understanding of the Condo Association Fees associated with your purchase. These fees are assessed and added to your mortgage payment, like a monthly bill, to cover the maintenance and upkeep of the building. You want to be buying into a community that is stable and well-run so there are no extra fees and assessments over the years. A stable condo building also ensures that maintenance and curb appeal are maintained- important for resale value.

 

Condo living can bring you the comfort of a secure building, social interactions, upscale amenity and views, and other things that may make this the most appealing option for you in your real estate search. Never underestimate the value a Realtor can bring to this major purchase. They have condo listings, some from foreclosure, and know the value of a neighborhood. They also make a great connection if you are a Cash Buyer wishing to find an incredible investment deal.

 

Call us today and we can help.


How to Short Sale Your Home

by Nathan Bangs

Falling behind on the mortgage payment can be one of the most stressful experiences. Most people would not choose to experience this financial burden but have some life stressor, like loss of job or divorce, that leaves them unable to meet their financial obligations. As the months of missing loan payments accumulate, it gets harder and harder to repay the loan.

 

It can be an overwhelming and scary situation, knowing that foreclosure could be looming at any moment. If you are behind on mortgage payments, a short sale may be the best option for you. A short sale is when you sell your home, and the proceeds from the sale are less than the balance owed on the loan. Choosing to do a short sale can give you a sense of control over your financial future and help you get out of your home responsibilities in a timely manner.

 

How to Short Sale Your Home

1.    Investigate the pros and cons of a short sale

Do some initial research on the benefits of a short sale versus a foreclosure. Many people choose the short sale route because they hope to own a home again in the near future or believe their credit won’t be as damaged as it would be with a foreclosure. Research how a short sale would work for your unique situation.


2.    Contact Your Bank.

Know the details of your loan, such as, how much you still owe. There is usually a short sale department that can help you understand the documents needed to initiate the short sale process. This process can be time-consuming and require gathering many documents, but will be worth it if you get our of your debt. Many banks would prefer a short sale to a foreclosure. It is more cost effective for them to sell the home than manage a vacant property.


3.    Communicate with a Realtor.

A trusted Realtor is a valuable resource to help you navigate the short sale process. They know the values of homes in the area, have qualified buyers (many specifically looking for a short sale home) and could even have a cash buyer that could buy your home quickly. Many hassles are saved by working with a Realtor and letting them move the process along. Commissions to the Realtor are paid by the lender, making this a free service to you as the homeowner.


4.    Make the house presentable.

While you will not be able or want to make any investment in renovating or fixing the home, you will still want it to have curb appeal. Tidy up the inside and outside of your home so it looks inviting to a potential buyer.


5.    Network with friends and family.

There can be a stigma associated with a foreclosure, but with a short sale you are taking control. Talk to your family and friends for potential interest in buying your home or helping you relocate to a new place more suited to your needs.

 

While you will not receive money from the short sale of your home, you will benefit from the piece of mind that comes from being in control of your destiny. You will be able to move into a new space that better fits your budget. And if you have kids, there are no worries that you will be kicked out on the street for, not paying your loan. You move out when the short sale closes. Putting your home up for a short sale this year could be just what you need to give your life a fresh, new start.



Find Out the Value of Your Tampa Bay Chinese Drywall Home

by Nathan Bangs

Chinese Drywall Resale

Many people in the Tampa Bay area were shocked to learn that the home they invested in contained hazardous drywall made in China, commonly called “Chinese drywall”. Florida ports took in enough drywall to build over 30,000 homes. If your home was built between 2003-2009, there is a chance it contains this drywall and is emitting harmful emissions.

 

The gypsum used in this Chinese drywall contained extra metals and minerals, like sulphur dioxide, that are at higher ratios than what is considered safe within US standards. This tainted dywall has been linked with numerous health issues such as inferior bone growth in children, chronic cough, severe and chronic headaches, nervous system disorders, organ damage, asthma and eye irritation.

 

Signs that your home contains Chinese drywall:

-SMELL: a sulfuric smell like rotten eggs especially strong on hot, humid days

-NEIGHBORHOOD: if a neighbor's house has it, chances are strong yours was built with the same materials

-CORROSION: any copper used for appliances or wiring will corrode quickly and destroy appliances

-LIGHTING SYSTEM: Lights in the house that seem to flicker or buzz

 

Remediation of these contaminated homes is possible. If your home contains Chinese drywall that was manufactured by Knauf, you are probably entitled to a payment to rebuild your home as part of their settlement agreement. But if your home's drywall came from another Chinese manufacturer (not all Chinese drywall is tainted), then you are not so lucky. Companies like Taishan are dragging out the settlement process and tying up the court systems.

 

Paying for remediation on your home can be costly. All of the tainted drywall needs to be removed, including dust from this drywall. Appliances and their wiring need to be replaced completely. A Realtor can help determine if your home contains Chinese drywall and how to best remedy the situation. They have connections with contractors that can make the necessary repairs to get your home ready for resale and they may even have connections to buyers willing to place a cash offer on the home. A cash offer allows you the freedom to walk away from the home without investing in costly repairs.

 

If you have a new home built between 2003-2009, don't be surprised at sale date. Have a Realtor come out and help you set up an inspection. Together, you can go over your options and determine the best solution to selling your Chinese drywall home.

Single Family Home Sales Up in Tampa Bay

by Nathan Bangs

With much of the United States experiencing record cold for the Winter of 2015, home sales here in the Bay area are on the rise. According to the Tampa Bay Times, January's median sale price for single-family homes in the greater Tampa Bay area rose 6.4% above last year's sale prices. If you are considering selling your home or looking to buy a home, don't wait too much longer. The Tampa Bay area is growing and beginning to experience a revitalization in many of the urban centers as people want to be able to walk or ride their bike to restaurants, shops and nightlife.

For full article visit: http://www.tampabay.com/news/home-sales-booming-in-tampa-bay/2218753

Displaying blog entries 1-10 of 460

Contact Information

Photo of Nathan Bangs & Associates Real Estate
Nathan Bangs & Associates
Keller Williams Realty
3502 Henderson Blvd.
Tampa FL 33609
For Buyers: 813-739-5925
For Sellers: 813-739-5965
Fax: 813.936.6205