Real Estate Blog – Condotron

Condos – Properties – Real Estate – Mortgages

21 Dec

Finding The Perfect Loft For You: 1

Posted in Lofts on 21.12.09

VanBurenLoftsCoverIf you are the type of person that has been looking for the ideal place – and you are a fashion-forward type of guy or girl, well, a loft might be the perfect place for you!  Lofts are something that are super trendy, definitely fashion-forward and look absolutely incredible … all of the time.

This picture is just one example of the amazing lofts that you can get.  Not only do all lofts have extremely high ceilings but the overall appeal and look of them is something that many, many people crave.  Whether you are into crazy colors or you are just looking for something high end … a loft might do it for you.

But how do you find one of these super-trendy lofts?  Well, I am going to break it down for you in the next blog, so you just have to stay tuned!

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25 Nov

Moving into Your Rental: 2

Posted in Renting on 25.11.09

landlord 4Now, you are going to want to begin by documenting everything about your apartment, preferably while it is still empty. If there are holes in the wall, blinds missing, a lack of smoke detectors, cracks in the floors, stains, and so on, you want pictures. If you intend to do any painting, you may also want to document the current color of the walls — if you can offer to repaint the place back before you leave, your landlord will likely be more permissive … unless he or she is controlling … and/or a jerk. (Sorry for the bitterness, folks!)

Then, again, check out your water pressure, the heat, make sure all the electrical sockets and light fixtures work.

For your own protection and for later proof, if necessary, you need to document the conversations you have with your landlord concerning the rental. Try to have a witness if you can. Correspondence should be sent through email, so that there is always proof of what has been written.

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22 Nov

Moving into Your Rental: 1

Posted in Apartments, Renting on 22.11.09

landlord 3Whether you are moving into an apartment in a complex, a rental house, or a private apartment, such as one that exists in a private, residential home, you have to realize: you have rights, especially if utilities such as heat, hot water, et cetera, is covered in your monthly rent.

There are also some things you need to do when you first move into your new home — and even before you move in, as a matter of fact. Let’s talk about that first.

You need to make sure that you are fully aware of all the codes, rights, and rules of tenancy in your area. You need to know what is expected of you as a tenant, and you also need to know what is expected of your landlord — again, especially if he or she maintains that heat, hot water, and electricity are included in your rent. Otherwise, it will be far too easy for your landlord to pull one over on you.

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21 Nov

Why Screening Your Tenants Is Important: 2

Posted in Apartments, Renting on 21.11.09

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While the appearance is something that you want to look at – it is not extremely important.  People dress the way they want and look the way that they want.  However, you do want to make sure that you get a credit check on them – as that will provide you with some insight on how these potential tenants will pay their bills.

You also want to make sure to have some type of tenant application in place.  That way, you can decide exactly how compatible you and the potential tenants might be.  While you do not have to be best friends, you want to make sure that you are compatible and have the same beliefs.

It is very important to find a reliable tenant that is not going to make you lose money … remember that.  You can be choosy when you are the landlord, keep that in mind.

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20 Nov

Why Screening Your Tenants Is Important: 1

Posted in Apartments, Renting on 20.11.09

dangling-keys

When you think about it – what is the most important thing to you when you are renting out your apartment or house?  Well, the screening process of finding the right tenant should be the most important thing.  This is a person that is going to be living in your home and they are not going to be supervised. 

That is why it is so important for you to screen any tenants that you have looking at the place and are serious about it.  There are some things that you can do to ensure that you find the right tenant for your home.  First, you want to look at their appearance – you want them to make a good impression on you, almost like they are interviewing for a job.

In the next blog, we will talk about some other things that you should be looking for when you are trying to find the right tenant.

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01 Nov

When It’s OK to Back Out of a Real Estate Deal: 2

Posted in Real Estate on 01.11.09

tenant 2So, when is it okay to break the deal? If the house of your dreams has any debts, it may not be a good idea to keep your offer in the pot. At the very least, calculate how much you will be left paying.

If you find any structural damage, that’s it. Do not worry about any deals, just get out as close as possible. No real estate deal is worth the health and safety of you and your family.

You also need to make sure that the location suits your needs.

For that matter, the size of your house needs to suit your needs as well. If you are looking to buy a cute house but plan to expand your family … well, thinking for the future is always smart.

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25 Oct

When It’s OK to Back Out of a Real Estate Deal: 1

Posted in Real Estate on 25.10.09

tenant 1I know, I know, the title of this series of posts may just have caused a gasp of horror from readers, but it’s true — sometimes it is okay to back out.

These are worst case scenarios, however. This is why people who are selling and renting so often want to make sure that you see the property before anything is signed. Up to that point, you can still back out and leave them in the lurch. However, due to the often subversive and deceitful nature of real estate doings, sometimes landlords, sellers, brokers, and real estate agents are perfectly happy to leave you in the lurch as well. That is why it is important to realize that, yes, sometimes you can back out of a deal.

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24 Oct

Facing foreclosure? Don’t pack just yet: 2

Posted in Mortgages on 24.10.09

ForeclosureHouseNow that we have talked about making sure that you know that you are not alone, let’s go ahead and dive right into foreclosure.  If you are considering just leaving before the bank really owns your home, there are some problems that you might run into that you need to know about.

Firstly, the foreclosure can actually be resurrected and the owner of your mortgage can return later and restart the foreclosure if the property value rises up in a few years.  Did you know that your mortgage can also be sold?  Just as many credit-card companies sell deadbeat accounts to aggressive debt collectors for pennies on the dollar owed.

Another problem is that the city can actually throw you out – which is something that I had no idea about!  These are just a few problems that you might run into if you plan on leaving your home.

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23 Oct

Facing foreclosure? Don’t pack just yet

Posted in Mortgages, Real Estate on 23.10.09

Facing foreclosure? Don't pack just yet Across the country, we all know that banks are starting to foreclose on many homes and homeowners are left without a word of explanation.  The banks seem to be taking the homes without so much as a warning and it is happening everywhere – form Ohio all the way to NY and from NY all the way to Florida.  It seems that foreclosures have become increasingly popular and there is no way around it.

If you are a homeowner that is faced with foreclosure – there are a ton of things that you can do, you just need to know exactly what to do and what they are.  The first thing you need to realize is that you are not alone.  There are so many people out there that have faced foreclosure and have gotten through it and you can too.

In the next blog, we are going to talk about some more ways that you can handle foreclosure if you are faced with it.

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20 Oct

What is Flood Insurance – Do I need it?

Posted in Insurance, Property on 20.10.09

Flood insurance is quite simply insurance that covers the damage inflicted on your home and personal property in the event of a tropical storm, excessive rain conditions, hurricanes, and other natural weather conditions that produce high volumes of water. Even man-made circumstances may cause flooding. For example, dams and levees that are neglected and ultimately break, and clogged sewer systems that back up creating massive water and filthy mud, are both ways in which floods happen.

And although many people think they know what flood insurance is, as it may be rather self-explanatory, they often mistakenly believe that general home Flood Insuranceinsurance covers these disastrous events. In reality, flooding is not covered and if you live anywhere near the coast or other areas prone to flooding, there is no doubt that you need flood insurance.

In addition to living in high-risk areas, statistics from FloodSmart.gov, the official site for the National Flood Insurance Program, state that “nearly twenty-five percent of flood insurance claims come from low-to-moderate risk areas”. This specifically suggests that even homes in low water areas are susceptible to some type of flooding. As a result, the answer to whether flood insurance is needed or not is clearly, a resounding yes.

Another curious reason to purchase flood insurance is new development. It seems rather obscure to think about construction and land development as a means to flooding and a direct detriment to your home, but the truth is, as the environment around you changes, so do the ways in which water is handled. Where once fields and swamps received the run-off, now concrete pavement and buildings may exist with nowhere for the water to go.

Because of these conditions, the United States Congress enacted the National Flood Insurance Program (NFIP) in order to help property owners, renters and business owners so that they would not have such a financial burden in the event of a catastrophe. In order for communities to participate, they must put into place flood prevention rules and ordinances that at least meet FEMA (Federal Emergency Management Agency) requirements.

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