Tuesday, February 17 2015
The foreclosure situation is a good deal different from what we were discussing a few years ago when the tidal wave of 7.3 million foreclosures and short sales swept the nation. When The New York Times “Dealbook” recently pronounced that the supply of cheap foreclosed homes in America is dwindling, it came as news to…well, no one.
Let’s face it: investors wouldn’t need to look up the latest statistics to guess that number of offerings would be down. The continuing rebound in home values, slow but steady improvement in the overall economic picture, and even just the passage of time has to mean that the glut of subprime-crisis-era foreclosures would have worked their way through the system.
But there are always new foreclosures, and for anyone hoping to make a bargain buy in today’s foreclosure market, the same qualities that brought post-crisis success still apply today:
The principal difference in today’s foreclosure milieu is that far fewer are available, and the difference between market value and listing price has narrowed. There may be fewer competitors to worry about, but some are still out there, as always. Today sees fewer institutional investors—in fact, some are leaving the market altogether, taking their profits and selling out to groups more committed to long-term property management.
Aside from the qualities described, there is still no blanket formula for landing the best foreclosure deal. But among other observations, there are two that are worth considering.
First, despite the lessening of the impact institutional investors previously had on the market, it may still be necessary to prepare to offer more than the listed price. The dwindling number of foreclosed homes tends to create an imbalance between supply and demand. If other buyers are offering higher amounts than the asking price, it can easily result in a bidding war situation. As always, by researching underlying values, the best investors avoid foreclosure buys that wind up being little more than break-even propositions.
Another wrinkle to be aware of is the possibility of future cost increases. For instance, it can transpire that an investor succeeds in purchasing a property significantly below its true value, only to find that a reassessment by taxing authorities raises its property tax bill through the roof! Canny investors prevent this surprise by finding out how the local Assessor’s office sets rates and schedules appraisals.
The foreclosure picture changes constantly. If you are interested in the investment possibilities—or are looking for a buy on your next home—don’t hesitate to give me a call to discuss the latest offerings! You can reach me on my cell phone: 812-499-9234 or email Rolando@RolandoTrentini.com
Wednesday, March 21 2012
A lot of prospective homeowners have already been taking advantage of today's real estate buyer's market. The benefits of larger profit margins, tax deductions, and the simple joy of ownership outweigh the expenses of doing so.
There are certainly a lot of perks when you begin your search to buy real estate online as opposed to doing it the old-fashion way.
This is not to say that you should go through the entire process of buying real estate online. The biggest risk of completely buying real estate online is that of misrepresentation. Note though that that risk is easily addressed by checking with a reliable realtor in the area you are eyeing, and by doing the final walkthrough yourself.
A lot of other people are now taking advantage of the real estate buyer's market. Prices are down, more properties (read: more investments) are up for sale. Start your search to buy real estate online now, before someone else beats you to the punch.
I hope you have found this information helpful. If you need any help with buying, selling or renting a home in Evansville, Indiana please contact me at any time. You can reach me on my cell phone 812-499-9234 or by email at Rolando@RolandoTrentini.com
Tuesday, March 20 2012
Advanced technology has become such a prominent feature in our everyday lives it is no surprise that it’s increasingly affectingEvansville home values. As “Home Automation” features grow in importance, bottom-line home values are following suit. It’s a new phenomenon, one that motivated home sellers (as well as homeowners heeding long term home values) should understand.
Home automation – the inclusion of luxury technological features like temperature control, lighting control, security systems and the like – are becoming more commonplace, increasing home values in the process. A few years ago, adding such bells and whistles to an existing home would probably have been more pricey than the return would justify -- but that is becoming ever less true. Think hi def flat screen TV and you’ll have a good example of the direction home automation is headed: ever-improving features for lower and lower prices.
As automated features become more widespread and their prices lower, some of them are growing increasingly simple to add. And the scope of home systems and their effect on home values can be quite varied. For some, adding an ‘automation system’ might consist of something as simple as installing remote or automatic control of a few lights. Others might make electronic security the key, choosing to install a full-fledged central system.
Where wireless home Internet networks are already in place, home values can easily be raised by the addition of remote operation. Right now that may sound like an unnecessary futuristic feature, but it may turn out that being able to control lights or heating systems from afar could substantially increase energy efficiency (along with home values).
Matthew Berman, one of the owners of New York design firm Workshop/apd, was recently quoted in the New York Times describing a “whole-home” lighting system.
“A popular feature of this kind of system is the ability to hit one button when you're leaving your house to turn off all the lights." As a practical matter, he also recommended keeping automated systems separately controllable, making them less complicated to operate and less subject to breakdown.
It's important to think long-term as well as short-term -- especially for anyone looking to increase home values, whether for future or immediate sale. Home automation is looking like a worthy candidate for the Next Big Thing, and buyers might be ready to gravitate toward advanced features that distinguish one Evansville seller's home from the competition. Call me if you would like to discuss how home automation might come into play when it comes to selling your home. You can call me on my cell phone 812-499-9234 or email Rolando@RoalndoTrentini.com
Thursday, March 15 2012
Is now really the best time to buy real estate? Let's try to rephrase that: is now the best time to buy real estate for you? The real estate market fluctuates every now and then, but it's pretty much a rule of thumb that property values always go up in the long run. This little article will go on about a few signs that indicate when you should absolutely make that home purchase.
You love your job and it pays off well - Job and income security are definitely two things that we all strive for. With this moving-up-in-the-world, you should definitely start thinking about making that real estate investment.
The prospect of having a family is in the not-so-distant horizon - Living spaces are typically bigger in houses as opposed to apartments or condos and hence serve better avenues to raise families in. Though there might be exceptions to this, the ownership of your own home might serve you better in terms of the little ones painting on the walls and other adorable vandalisms. At least you wouldn't have to answer to any landlord.
Relocation isn't all too probable - If you believe you will be calling an area your home for 5 years or more then contact your realtor as soon as possible. Staying that long at a certain location without investing in that area's real estate is a missed opportunity!
The property is closer to places you frequent - Apart from being a major convenience, this sign can also save you a lot of gas money accumulated over time. After all, real estate is still about location, location, location. If this place is close to hospitals, shopping centers and schools, then that would just make this investment all the sweeter.
If you can see these signs working in your life, then it’s time to take a chance and get in touch with a trusted realtor in the area your eyeing. Things might just be lining up for you to make that investment!
I hope you have found this information helpful. If you need any help with buying, selling or renting a home in Evansville, Indiana please contact me at any time. You can call me at 812-499-9234 or email at Rolando@RolandoTrentini.com
Wednesday, February 22 2012
If you are a newcomer to Evansville real estate investing, finding your first income-generating property can seem like a fairly daunting task. How can you be sure that a property will generate enough cash flow? How will you estimate your costs to put potential homes for rent into the profit column? Altogether, how will you know when you find the right opportunity?
First, you have to view the competitive landscape in Evansville this spring, which means doing some targeted research. You might start by attending local seminars or looking into a local property club. These types of groups can help arm you with the economic trends that will serve as a guide. You will also want to call one or two reputable Evansville property management companies to get a general idea of the costs you should expect when listing homes for rent with their firms.
In today’s market, the demand for quality homes for rent and the rents they command are generally up. Given an increased demand for rental properties, it is reasonable to predict that even as a new investor you should be able to find qualified potential tenants within a reasonable timeframe. However, the tenant qualification process can be tricky. It is peppered with legal and Fair Housing rules, so you should be prepared to either educate yourself thoroughly on the laws or hire a professional property manager or leasing agent to handle this aspect.
Overall, the market in homes for rent has trended higher, but your new business will prosper or not based on the cash flow for the property type you choose to enter. Many neophyte real estate investors consider beginning with a condominium, and for practical reasons. Homes for rent can bring with them a multiplicity of unique –sometimes unexpected-- problems, whereas most condos come with HOAs that handle roof, exterior maintenance, and even many more problem-preventing features.
Experienced real estate agents are there to help you find prospective properties and to furnish professional advice along the way. Please feel free to call me anytime for market advice if you have ever considered looking into homes for the rental market. We have a dedicated property manager who would be more than happy to assist you with your rental needs. If you are interested, call me at 812-499-9234 or you can reach me by email at Rolando@RolandoTrentini.com
Friday, May 13 2011
Spring is here, and it's time to truly make your landscape shine! After all, one of the joys in owning your own home is attending to and personalizing your own yard! Since the focal point of most landscaping is the lawn (also one of the trickiest things to maintain), we are including a special list of tips and tricks to help you whip your lawn into perfect shape. Giving special attention to the lawn now will help to keep it healthy throughout the summer; we hope you find this list to be as helpful as we have!
Please remember that if you have any need for household advice or tips or would like to discuss any real estate questions Rolando is always available at 499-9234 or Kathy at 499-0246 or visit our Web site at: www.TheTrentiniTeam.com
FIVE WAYS TO ACHIEVE A GORGEOUS LAWN
· Water = Green: Water is one ingredient that your lawn cannot live without, so make sure that you've got a great routine in place for keeping the lawn damp. If you have a good sprinkler system installed, you're already a step ahead of the game! If not, make sure that you're reaching all areas of the lawn if watering by hand or by moveable sprinkler. Water in the evening or very early morning for best results, but don't overdo it!
· Know how to mow: Make sure your lawn mower has sharp blades; mowing with dull blades can tear the grass, altering its healthy appearance. Also, the more often you mow, the healthier your grass will be! Mow the lawn at least once per week for optimal results.
· Fertilize and vitalize: Invest in a good fertilizer and use it regularly for the thickest, greenest grass. Ever wonder why the fairways and greens on a golf course manage to look beautiful throughout the year? Fertilizer is the key to the greens keeper's success. For the greenest grass possible, purchase a fertilizer with iron content.
· Weed it out: Weeds are an obvious eyesore when it comes to the care of your lawn, and you've probably noticed how quickly they can grow. With a good fertilizer program in place, you'll get a step ahead of weeds in no time. For the pesky, hardier plants, manage the growth with a little weed spray (or dig them out by hand for best results).
· Don't get bugged: Lawn pests are not just annoying: they are bad for the grass. If you're properly watering, fertilizing and mowing your lawn, but still have an insect or pest problem, try aerating the lawn; this should help to eliminate the little buggers!
We are pleased to let you know that we have started a new blog site TheTrentiniBlog. We will continue to bring you articles pertaining to Evansville and real estate. We hope you will bookmark this page and we hope you enjoy reading our articles. We are certainly open to discussions how we can improve our site. Please send us a short note, this would make our day.
Thank you, Rolando & Kathy Trentini
Wednesday, December 16 2009
As we mentioned last month, the Home Buyer Tax Credit has been extended and expanded. For first time buyers the extension is straightforward, you must have an accepted contract no later than April 30, and close the transaction no later than June 30, 2010. In order to take advantage of the existing buyer credit the owner must have used the property as their principal residence for 5 of the past 8 years. The owner must purchase the new home under the same deadlines as a first time buyer.
Although this sounds simple enough, let’s talk about realistic timing to take advantage of this unique and probably one time only opportunity to receive a $6,500 gift from Uncle Sam. Most buyers prefer to sell their existing home before purchasing a new home. In our area during November the average days on market for houses that sold were 107 days (more on this later). It is not unusual, and is frequently helpful, for sellers to stage and spruce up their house before putting it on the market. These steps can maximize the sales price and reduce marketing time. The typical buyer starts their home search 10 weeks before purchasing a home. If you back up 107 days from April 30 and factor in some time for looking for a new home, it is easy to see that the buyers with the best chance of receiving their $6,500 gift will be those that start the process immediately.
The next few weeks will be an excellent time to list a house for several reasons. First there are over 300 fewer houses on the market today than there were last November. In addition 52 more homes sold this November than last November. Finally the list price to sales price ratio was a full percentage point higher last month than it was a year ago. The keys to maximizing your return on your house are to have it in great condition and price it right. Keep in mind the average days on market for homes that sold last month was 107 days. By comparison, houses currently listed have been on the market 162 days. From this one can conclude that houses priced right are selling. This is probably the only year we can help get you a $6,500 Christmas gift. Give us a call at 812-499-9234 or email us at Rolando@TheTrentiniTeam.com
Friday, December 04 2009
NEW ALBANY, Ind. -- A startup company has announced plans for a development and production facility making small-scale wind turbines in southern Indiana.
WindStream Technologies Inc. said Monday that its operations in New Albany could have more than 260 workers by 2012. The company is now based in California and plans to begin hiring as facility and equipment upgrades are made at the site in the Purdue Research Park of Southeast Indiana.
WindStream says its TurboMills are designed to capture wind energy in urban areas. The devices are intended as a low-cost way to supplement a customer's electricity needs.
The Indiana Economic Development Corp. offered WindStream up to $1.5 million
Friday, December 04 2009
A partnership has been formed to advance motorsports training, research and education in Indiana. The Indiana Economic Development Corporation Motorsports Initiative, the Indiana Motorsports Association and several colleges and universities have established the Indiana Motorsports Education Alliance. The participating schools plan to offer several racing related courses involving team management and motorsports engineering.
The education institutions involved in the alliance are:
-Indiana State University
All offer motorsports-related courses and/or degree programs.
Source: Indiana Motorsports Education Alliance & Inside INdiana Business