Jane ~ Hi Everyone, thank you for joining the show. Today we are here to discuss buying and selling investment properties with Jo Ann Koontz of Koontz & Associates is kind enough to come along and help us. Jo Ann, welcome to the show. We are looking forward to hearing what you are going to bring to the table today, with regard to advice on Do's and Don'ts.
So before we get going, do you want to tell us a little bit about what you have to offer and what Koontz & Asscotates has to offer to the client out there looking to invest?
Jo Ann ~ Sure, what we offer essentially a one firm kinda mentality. We have a law firm and a CPA under one roof, operating together to offer holistic advice from legal to tax, real estate to business, the…
Today I met with Megan Kendrick from MSC Mortgage to discuss the changes in the mortgage industry over the past 10 years. Megan has extensive knowledge of the mortgage industry and local information.
Together we've found your ideal home, in the ideal neighborhood, and your offer has been accepted. You are thrilled, and I am happy for you. However, the real celebration should wait until all the contingencies have been met and you are clear to close.
There are times when I have to dash the hopes of the potential buyer, to even advise them against moving forward due to inspection failures. As painful as this is, it is for the best for my customers, something that is my compass for all my business dealings.
Home inspections are critical when buying a home, they eliminate the costly surprises. The repair limit stated in the contract will most likely cover the repairs the inspector highlights, however, on occasion the repairs can exceed the repair…
A look at 2017:
The 2017 Year End Market Report is in and the numbers show a continued and steady growth for Sarasota and Manatee Counties. Sales of single family homes increased just 1%, but condo sales were up by almost 7%. Foreclosures and short-sales decreased by an amazing 40% which contributes to overall economic and housing market strength.
Median single family home sales prices rose more than 7%, however, properties spent more time on the market than the previous year. Inventory remained low but all signs point toward a busy season. When we look at 2018 January numbers, we can see that the trend continues at a steady and reassuring rate.
A look at January 2018:
The 2018 January market report further strengthens the predictions of a…
So often I am asked about the Dophin Tower Condominiums on Gulfstream Avenue in downtown Sarasota. Having undergone emergency structural repairs, the project was named a finalist by the Post-Tensioning Institute's Project of the Year Award for Excellence. In other words, the building is structurally sound. In fact, the projects jury comments included, "What they did here was just spectacular."
The building has 15 stories, the first three floors for parking, the rest are residential condos. In 2010, a fourth-floor resident noticed cracks in the walls and floors inside their unit. This resulted in the need for emergency structural restoration and the evacuation of 117 units. A basic nightmare for all involved.
In an effort to identify the cause of the…
I am often asked about flipping properties, and if the time is right. Here is a video to help you get started. Please remember that I can answer any real estate questions you have, whether buying, selling, or flipping!
• Buying a property to rent out is less risky than flipping. You have tenants in place paying you monthly. This will cover the mortgage and leave you a little cash each month to take to the bank. The properties you buy will most likely only need cosmetic items like fresh paint and new flooring.
• Flipping homes may require you to make monthly payments to an investor while also paying for services, materials, selling costs, tax, commissions, etc. You are most likely to buy a house that's distressed and in need of more than just