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11 Steps to Finding the Perfect Rental Apartment, Townhouse, or House

Michael — Wed, 31 May 2006 14:48:09 +0000

In order to find the right apartment, townhouse, or house to rent, you must be prepared for what to do before you set out to look at homes, what to do during the search, and what to do once you've find the right place.

Before you start the search:

1. Create a list of everything and anything you'd like your new home to have. Would you like a dishwasher, hardwood floors, washer and dryer, or pool? Would you prefer an apartment, townhouse, multifamily home, or single family home? It's a great idea to set priorities on your preferences. Remember to make a distinction between what you want and what you need!

2. Always be prepared! Have on hand some important information that your Realtor will need. This includes:

Credit check.
Resume/Letter of Recommendation.
Pay stubs/tax returns.

3. Keep in mind that many landlords will want to verify your work references. Contact your references (including your former landlord) ahead of time so that they know they may receive a call. A great tip to getting a great reference is to ask the person ahead of time, "I'm going to be looking at places to rent and I'm going to need references. If I were to put you as a reference, would you be willing to give me a glowing recommendation?" Remember, if you don't ask for it, you may not get it!

During the search:

4. It's best to look at the potential units during the daytime. It's important to know how much natural light enters a home. It's also easier to see in what condition the unit is in and whether more work is needed on the unit to make it more habitable.

5. Always do a walk-though of any unit you're seriously interested in. You're also going to want to ask about any damage you may see (always do this before you sign the lease!) Make a list of any damage you see and give this to your Realtor. Your Realtor will get the landlord's intials on the list and will attach this to your lease in order to absolve you of responsibility later. This prevents many headaches down the road!
6. Ask questions! The time to ask is before the lease is signed. Some great questions to ask are:

How large is the water heater?
What's the water pressure like?
How are the neighbors like?
Are there shopping malls/supermarkets nearby?
What is the pet policy?
What are the utilities that you will be responsible for?

7. Introduce yourself to your potential neighbors! The most important neighbors to meet are the ones that you will share walls with, which are the ones on the same floor and those above and below you. Find out their thoughts on noise, what they like about the area, and most importantly, find out if they're friendly!

8. Bring a tape measure and a list of your larger furniture's measurements so you can see how things will fit and what you might need to buy.

9. See a few places that fit your characteristics of a potential place to live so you can have an idea of what your budget generally gets you as a home.

Once you've found the right place:

10. Be prepared to ACT QUICKLY when you find something you like and make sure your Realtor knows how much you like the home! A rental that might be on the market one day can be gone the next day! That's why it is so imperative to act quickly and give your Realtor the initial deposit so that your Realtor can fill out and give the landlord the Memorandum to Lease! The Memorandum to Lease demonstrates your serious intent to rent the property and this generally means the property is held for you until negotiations are over between both Realtors.

11. Take a look at your lease and be sure you understand it. If you have any questions, make sure to ask your Realtor!

If you would like a free consultation and more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 1-800-343-2993 x182.

Why Using a Realtor to Purchase a Home is a Great Investment

Michael — Thu, 18 May 2006 21:10:56 +0000

When you utilize a Realtor to assist you in the purchase of a house, one of the first things you will realize is the peace of mind during the complete process of buying a house. Acquiring the services of a buyer’s agent will provide you an amazing amount of value, such as the services provided, information by an expert in the real estate field, and most importantly, a Realtor will maximize your negotiation leverage to ensure that you will obtain the best deal possible. A good Realtor always tries to minimize your initial cash investment and makes sure that the buyer fully understands that real estate is a borrowed-money business.

Buyer’s agents utilize their real estate experience and skills to negotiate the lowest price possible for the buyer and the best terms. Remember, you make money in real estate when you buy, not when you sell. That means you must buy real estate using wholesale prices, not retail prices.A buyer’s agent offers his or her technical knowledge of a real estate transaction. This knowledge includes the proper method for filling out the often complex contract or sales agreement and how to write the contingency clauses that are of great benefit to a buyer.

The services provided by a competent Realtor include a research of any code violations (such as illegal room additions or garage conversions), zoning violations, open permits, and last but not least, if there are any outstanding liens on the subject property. By bringing these issues to light, a buyer’s agent will eliminate any future problems and headaches if you decide to buy the property. For example, if a person buys a home without a Realtor and fails to note any open permits, a code inspector from the Building Department will come back to the property after it was sold to verify that the repairs were completed property! This means any repairs or upgrades will need to be completed and it will cause additional expenses on the property to the new owner. A Realtor's expertise will prevent that situation from ever happening.

A professional Realtor will guide you in your investment by filling out all the real estate forms necessary to finalize the transaction quickly and correctly. When the verbal negotiations are over, it's time to put everything in writing, and it is the buyer’s agent who will put it in writing and that translates as a definite power in the final negotiations.

Remember, by purchasing a house with a buyer’s agent you will get the full benefits of a skilled negotiator and a specialist with current skills in the real estate market to make the deal go smoothly and less stressful.

If you would like a free consultation and more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 1-800-343-2993 x182.

How to Get Organized When Moving to a New Home

Michael — Thu, 18 May 2006 00:45:59 +0000

When you’re moving to a new home, it can be a stressful experience for most people. It’s a pretty big project. But if you take the time to prepare yourself and take the proper steps beforehand, you can save yourself some major headaches. Here are some tips to organize yourself before the big move:

Make yourself a detailed checklist of everything you need to take with you. It’s a good idea to purchase a notebook just for this purpose.
Purchase moving supplies in advance. A great list of moving supplies to have on hand are markers, boxes, tape, pocket knife, scissors, plastic storage bins, newspapers, and blankets. A hand truck would be EXCELLENT to have in this situation (makes transporting the boxes around a lot easier). Boxes can be found at your local supermarket (ask an attendent) while wardrobe boxes are a great idea to purchase for your clothes.
Having a garage sale to sell off unwanted items (or even donating items) is a good idea while you still have time before you pack. When it comes to deciding whether to keep or get rid of something, it’s a good idea to follow the two year rule: If you haven’t used it in two years, get rid of it!
Keep detailed records of your moving expenses. Your expenses may be tax deductible depending on the reasons for your move.
Create a floor plan of your new home to aid during packing and on moving day.
If you have important files on your computer, make sure to back them up on disk. Make sure you have a plan on how you’re going to move your computers, as they are very delicate pieces of equipment.

If you would like a free consultation and more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 1-800-343-2993 x182.

Donald Trump Home Listing for $125 Million in West Palm Beach, Florida

Michael — Sun, 14 May 2006 16:54:45 +0000

Real estate developer and mogul Donald Trump is listing a West Palm Beach home for $125 million, considered to be the highest listing price ever for a single-family home in the United States. The price is likely the highest ever for a single-family home in the U.S.

But Mr. Trump has run into some problems while renovating the West Palm Beach home. "I was going to do a minor job, but it turned into a major renovation," the developer says. "We're gutting the whole thing and redoing almost all of the property." Though not yet officially listed on the MLS, the home is being shown to potential buyers.

Donald Trump, 59 years old, originally purchased the seven-acre oceanfront property for $41.25 million in 2004 during an auction at U.S. Bankruptcy Court in West Palm Beach, Florida. The original owner, former health-care executive Abe Gosman, purchased the land for $12.1 million in 1986 and later built the dwelling.

If you would like a free consultation and more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 1-800-343-2993 x182.

Six Simple Steps to a Great Home Staging

Michael — Thu, 27 Apr 2006 13:22:43 +0000

Here are some techniques we can use to improve the marketability of your home by having every buyer get that "I want it now!" feeling.

1. Know that our physical senses respond to a home's design. What we feel relates to our senses: sight, smell, touch, hearing, and even taste. What we want to do is adjust certain aspects of your home to make it more appealing to these senses. The more senses you can activate in a positive way, the more in love the buyer becomes with your home.

2. Know that psychologically, a buyer wants a home that fills their needs. People buy homes that they feel happy in. People want to feel proud of their home, to the point of showing it off to their friends and family. Choosing the right colors, patterns, furnishings, and taking care of the little details will greatly influence the prospective buyer's feelings.

3. Don't fall into the "white wall trap". The advantages of white is that is a "safe" color, it looks clean, and is generally preferable to a very extreme color. However, it doesn't create any sort of cheerful feeling and it doesn't make people feel good. In short, it doesn't give that "I want it now!" feeling we want in buyers. Studies have been done on color and mood and they have shown that:

Homes in a high price range: Use complex muted colors.
Homes in a low price range: Use pure primary or pastel colors.
Selling in the fall or winter: Use warm color accents.
Selling in the spring or summer: Use cool color accents.

4. Furnishings are very different depending on climate. For us in the South Florida area, fewer furnishings is generally more desirable due to our hot and steamy days. If in cooler weather, having many "cozy" furnishings is desirable.

5. Some important details to add are extras such as:

Paintings – They add depth and give a feeling that the room is bigger.
Flowers/Plants – Always use the right colors for the season.
Mirrors – They add depth and most importantly, the buyer literally "sees themselves in the home". This is a very important tip because it makes the buyer feel like the home is part of their lives already. Buyers will become emotionally ready to live in the home.

6. Know that the cost of a few minor touch-ups is usually relatively small. A great place to find building supplies is ReStore, which is part of Habitat for Humanity. ReStore sells donated building materials, tools, and appliances to the public at discounted prices. These profits then help finance Habitat for Humanity's housing building efforts. These are the South Florida ReStore locations (open Tuesday to Saturday):

HFH ReStore of South Miami
19100 Sw 106th Ave, #18
Miami, FL 33157
(305) 259-2891

HFH ReStore of North Miami
3800 Nw 22nd Ave
Miami, FL 33142
(305) 637-4913

Fort Lauderdale – Habitat ReStore of Broward County
513 W Broward Blvd
Fort Lauderdale, FL 33312-1743
(954) 763-7771

I encourage you to give these techniques a try. There's no reason why a buyer shouldn't fall head-over-heels over your home. As long as you take the time beforehand to make your home as inviting as possible your home will be in very high demand.

If you would like a free consultation and more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 1-800-343-2993 x182.

Getting Prequalified For Your Home Loan

Michael — Sat, 15 Apr 2006 23:04:28 +0000

Getting prequalified for a mortage determines how much you can afford to pay for your home. It allows you to act as quickly as possible when you find the right home, especially when there are other interested buyers. Very importantly, it also shows the seller that you are serious about purchasing the property and that you are able to afford it.

Here are the steps to become prequalified for a mortgage:

1. Ask around and get a referral for a mortage broker. Getting a referral from your Realtor is a great place to start.

2. There are two pieces of financial information that you should have on hand. These are your gross monthly income and the total payments that you make per month (these monthly payments include car payments, credit card minimum payments, etc).

3. Finding your debt-to-income ratio is usually done along with your lender but you may wish to do this on your own also. Add your monthly debts together and compare that number with your income to find your total debt-to-income ratio. If your percentage is under 36 you're in great shape. If not, don't worry, there are ways to overcome this.

4. Your lender will take a look at your credit report with your authorization. This includes your FICO (Fair, Isaac and Company) score. This score is a system used by lenders to calculate how good your credit is.

5. Final step, have your lender write up a prequalification letter. This letter will state that your financial information is satisfactory. You are now officially prequalified and it's now time to find your dream home!

If you have any questions, please contact me, Michael Emilio Rodriguez by email and by telephone at 305-235-2621 x182.

How To Find the Best Mortgage For Your Home

Michael — Sun, 02 Apr 2006 21:35:15 +0000

1. Prequalification is definitely the first step when you decide you want to buy a home. Getting prequalified is an easy process and gives you peace of mind when shopping for your home. Prequalification begins the process of formally applying for a mortgage, and gives everyone a clear roadmap of the financial direction they are headed. Your mortgage broker (ask your Realtor for a recommendation) will give you a written prequalification done easily for you at no cost and no obligation, even over the phone!

2. You must know what is the monthly amount that you feel committing to. Talk to your mortgage broker not only about what level you qualify for but also about what you want to pay out each month and be clear on this. Find what this monthly dollar amount translates into in terms of value of home. This ensures that you won’t be wasting time looking at homes not in your price range.

3. Think about your long term goals. How long do you feel you will be owning this home? Is your income going to be changing (up or down) in the near future? In what direction are interest rates moving? These questions help determine the right mortgage amount for you.

4. Find out what prepayment privileges are available and the payment frequency options. Making frequent payments (weekly or even biweekly) can literally take years off the length of your mortgage. This will also lessen the amount of interest you pay over the term of the mortgage.

5. Two very favorable options in a mortgage are portable mortgages and assumable mortgages. Portable mortgages are permitted to be taken with you when you buy your next home. This is great because unless you’re buying a home that is much more expensive you won’t have to go through the entire mortgage process again. Assumable mortgages are great because the buyer of your home can take over your mortgage when you move to your new home. This is a powerful tool at the negotiating table which makes your home very desirable.

6. Just as you shouldn’t buy a home without a Realtor, you should also work with a mortgage broker. Mortgage brokers make an immense difference in the cost of your mortgage. What’s even better? Just like a Realtor when buying a home, you receive the services of a mortgage broker with no cost or obligation.

If you have any questions or would like more information, please contact me, Michael Emilio Rodriguez by email and by telephone at 305-235-2621 x182.

Renting an Apartment: Step-by-Step

Michael — Sun, 19 Mar 2006 23:38:42 +0000

Make sure you know how much you can afford per month for an apartment. Be sure to include utilities in your budget.
Think about what neighborhoods you’d like to live in. Be sure to keep in mind your commute time to work and how close you’d like your new apartment to be to your job.
Write down all features that would be important to you, such as parking, pet policies, security, and number of bedrooms and bathrooms.
Contact your Realtor and go over with him or her what you want in your new apartment.
Inspect the apartments carefully. It is often a good idea to look at apartments in different floors of the same building.
Fill out an application for the apartment you choose. Make sure to have your Realtor look over the contract and explain any confusing aspects or terminology.
With your Realtor present it’s time to establish your move-in date, sign the contract, and arrange to pay your deposit.

If you have any questions on finding an apartment, please contact me, Michael Emilio Rodriguez by email and by telephone at 305-235-2621 x182.

Selling Your Home: Depersonalizing

Michael — Sun, 05 Mar 2006 00:03:05 +0000

When preparing to sell your home, the most important thought to keep in mind is to think of your home as a marketable commodity. The goals is for others to see your house as their potential home, not yours. This process is known as “depersonalizing” your home.

When “depersonalizing”, the key word is anonymous. The house must look like it could be anyone’s home. When a potential buyer is previewing your home, your real estate agent is selling the idea that this can be their home. Too many personal items of the seller lying around and it may hurt these chances.

Some items which should be put away are:

Family photos
Trophies/Plaques
Collectible items
Souvenirs

After following these steps you will be well on your way to preparing your home for sale!

If you have any other questions on selling your home, please contact me, Michael Emilio Rodriguez by email and by telephone at 305-235-2621 x182.