Real Estate: Tips for Choosing a Real Estate Agent

Posted on July 29th, 2011 by @BertDaniel with No Comments

If you are like most Americans, purchasing real estate is a major decision that requires research and patience, among other things. Beginning the search for a property that you like well enough to purchase is only the first of many steps to a successful real estate transaction. Negotiations, inspections, mountains of paperwork . . . it’s clear that you need a professional real estate brokerage, like Spectrum Enterprises LLC, to take you smoothly through the process of buying property.

A real estate agent searches for the best property for his clients.

Here are some tips for choosing the right real estate professional; use the tips to filter through the masses.  Additionally, research the recommendations you get from your well-meaning friends and colleagues.

  • Recent Transactions: Ask the agent to let you speak with a couple of recent clients. How satisfied were the clients with the transactions? Were their expectations met? Also, ask how long it took to sale (or buy) the property.
  • Current Listings: Review the agent’s current listings. How closely do the listed homes match the type of home you are looking for? If you only see chicken ranches in Idaho, don’t expect to procure a penthouse in Manhattan.
  • Licensing and Credentials:  The internet makes it easy-as-pie to verify the licensing of an agent. Information about additional credentials is also available. Some credentials include:  ABR (Accredited Buyer’s Representative), CRS (Certified Residential Specialist), and SRES (Senior Real Estate Specialist).
  •  Experience: If you choose an agent with fewer than five years of experience, you might be paying for his business education. Pass by the newly minted professionals and find a seasoned agent with an impressive sales record and portfolio.
  •  Popularity Among Peers: Real estate agents who stand out and receive recognition from their peers do so for good reason. Superstars of the industry can rise quickly in this fiercely competitive industry. Hard work and genuine interest in helping clients find the property of their dreams are trademarks of these successful agents.
  •  Up-to-date Tools: Have you ever worked with someone who primarily uses hard copies to transfer information? Perhaps this person does not have a website or even an email address (gasp!). Stapled pages of listings, long columns of data, the excessive waste of trees . . . it’s much better to go green and make use of online tools.

If your agent is using outdated means to keep abreast of and work within the real estate community, he is missing out and you will be, too. High tech tools like Google Maps and QR code readers help savvy real estate agents store and display property information electronically.  Quick access to the market is key to finding and buying the perfect property.

Spectrum Enterprises has an innovative approach to real estate brokerage, using new technology and social media platforms to penetrate the Baltimore area real estate market.

Top Ten Lists for Real Estate Professionals

Posted on July 28th, 2011 by @BertDaniel with No Comments

The chaos and confusion caused by an unstable economy is a gold mine for business-minded people. Opportunities abound for those with an interest in real estate and investing. This compilation of Top Ten Lists gives you quick access to information about the real estate market and – hopefully – some ideas for leveraging current and forecasted market conditions.

Top Ten Cities to Buy Rental Property

Now is a prime time to invest in rental property. Three primary factors contribute to the promising rental market: dropping home prices, low interest rates, and increasing rents.

1. Las Vegas, NV

2. Detroit, MI

3. Warren, MI

4. Orlando, FL

5. Bakersfield, CA

6. Tampa, FL

7. Phoenix, AZ

8. Fort Lauderdale, FL

9. Rochester, NY

10. Stockton, CA

 Top Ten Considerations When Buying a Rental Property

A number of factors are considered when renters choose a location. The following list will help you find a rental property that will appeal to potential renters.

1. Neighborhood

2. Property Taxes

3. Schools

4. Crime

5. Jobs

6. Amenities

7. Building Permits and Future Development

8. Amount of Listings and Vacancies

9. Rents

10. Natural Disasters

Top Ten Tips for Buying a Home Fast

In a hurry to get a house? Use this list of tips to help speed up the process of purchasing real estate.

1. Start your search online

2. Get pre-approved

3. Look for motivated sellers

4. Prioritize your housing needs

5. Find a great buyer’s agent

6. Steer clear of short sales

7. Try a real estate auction

8. Negotiate repairs

9. Have cash read for closing

10. Have a Plan B

Top Ten Real Estate Search Engines

1. www.Realtor.com

2. www.Zillow.com

3. www.Trulia.com

4. www.Homes.com

5. www.ZipRealty.com

6. www.Remax.com

7. www.LoopNet.com

8. www.HotPads.com

9. www.HomeGain.com

10. www.Move.com

Real Estate: Vultures Circle

Posted on July 12th, 2011 by @BertDaniel with No Comments

It has become all too common: Foreclosure signs, dotting the residential landscape, mark the end of  American homeowners’ dreams.  It is certainly not a consolation, but the sputtering economy is negatively affecting the big guys, too.   Large condo properties and complexes across the nation are sporting spiffy new foreclosure signs as project funds run dry.

Recent headlines and news articles tell the story:

According to RealtyTrac.com, nearly three million properties were involved in foreclosure in 2010.

  • In April 2011, an estimated one in every 593 housing units in the United States of America received a foreclosure filing; in Nevada, the number for April was one in every 97.
  • Foreclosure filings include “notice of sale” and “notice of default.”  Some properties receive more than one filing before being sold by the bank or other lender.
  • According to the National Bankruptcy Research Center, bankruptcy filings are showing similar trends.

Deeply discounted, distressed properties like condo complexes are being snatched up by savvy hedge fund and other major investors who have cash on hand.  This method of acquiring property is known as vulture real estate investing.  Carrion birds, like vultures, survive off the carcasses of the dead.  When you see them circle overhead en mass, you know there is blood.

The highly educated and skilled among us develop a sense much like the carrion bird – drawn to blood in battle.  Low ball offers are accepted by banks happy to dump the real estate.  It’s true that a condo complex is out of reach for the average homeowner, but the little guy has access to properties that were previously too expensive for consideration.  A distressed property is nothing more than a three-legged calf about to go down in a den of lions.  The question is, who gets the kill and who keeps it?

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    Our principle partners began as investors and as such have invaluable insight into the industry, setting us apart from our competitors. Our professional and knowledgeable team knows the real estate market in Washington, Baltimore, and surrounding areas, because we live and work here, and we love it. We understand the importance of building strong relationships with our clients; ensuring they are supported, whatever their real estate needs.

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