Posted by Peggy Farber on 1/25/2017

Living in an area that receives lots of tourist traffic offers rewards and challenges. Depending on your personality and lifestyle, buying or renting a home in a location that attracts thousands of tourists a day might be perfect. These lists of rewards and challenges could save you time, money and frustration. They can also help to prepare you for life in a city that, like a magnet, pulls in scores of people from around the country or world each day.

Rewards

  • Entertainment, arts, cultural and educational events abound in these cities. Many high profile events take place within several blocks, making it easy for you to take part in the events without having to travel far.
  • People from diverse backgrounds visit and live in a major metropolis. It’s a great way to interact with people from all over the world.
  • Food is as rich and diverse as are the people who live in the area. Whether you’re a vegan, vegetarian or meat eater, you’ll find something that pleases your appetite. Highly respected chefs often operate or prepare meals at restaurants in these fast-paced cities. When you dine, you could be feasting on a meal prepared by one of the world’s top chefs.
  • Professional sports teams make their home in the busiest towns. If you live in a city like Boston, New York or Miami, you’ll have a pick of professional sports teams that you can root for.
  • Finding an excellent college or university to attend should be easy. Schools in major cities are among the top in the nation.In addition to attracting talented students from around the country, these postsecondary schools attract some of the sharpest students in the world.
  • Thriving business districts are located in popular cities, giving you more opportunities to land a job that aligns with your passions.

Challenges

  • When you go downtown, you’ll have to move in and out of crowds. Buy or rent a house in a city like Orlando, Honolulu or New York and, during peak tourist seasons, you may find yourself weaving in and out of people just to walk down sidewalks.
  • Parking is not cheap. Expect to spend money each time you drive into town and need to park. That or opt to take public transportation when you visit high traffic spots in the city.
  • You won’t see a lot of trees and grass in the busiest parts of town. If you’re a nature lover, you may prefer buying a house 30 minutes or more away from the heart of the city.
  • Homes in popular cities are pricey. Apartment rents are higher in popular cities too. Work with an area savvy real estate agent to find the best housing options.

Buy or rent a house in a tranquil part of town and you might not feel like you’re living in a town that operates at high octane levels. You might not feel like the streets of the town that you live in are brewing with millions of people, locals and tourists. What you will have is the option to withdrawal from crowds or go into bustling, thriving places like shopping, arts, sports and cultural communities within minutes. That alone is a rare option that smaller, less talked about cities generally cannot offer.




Categories: Uncategorized  


Posted by Peggy Farber on 12/7/2016

Buying a home should be simple. Unfortunately, purchasing a residence can become complicated quickly, especially if you fail to consider the immediate and long-term costs associated with a house.

Ultimately, there are many hidden expenses that a homebuyer needs to consider before he or she purchases a house, including:

1. Utilities

Heating and cooling costs, water fees, electricity expenses and other utility bills may prove to be overwhelming if you're not careful. Fortunately, if you learn about various utility costs now, you may be better equipped to keep your utility bills in check at your new residence.

Ask your real estate agent for information about a home seller's utility bills. By doing so, you can get a better idea about how much your utilities may cost if you decide to purchase a particular residence.

Also, if you plan ahead for your utility bills, you can budget accordingly. Keep in mind that utilities are essential in any home. As such, you'll need to account for these costs in addition to your monthly mortgage payments, regardless of the home you buy.

2. Commuting

If you're moving to a new city or town, you'll want to consider how your move may impact your daily commute to work, school or any other locations that you visit regularly.

Consider a home's proximity to highways. If you move to a house that is located near a major highway, you may encounter heavy traffic at various points throughout the day, resulting in a lengthy commute.

Also, find out whether public transportation is available near your new home. In some instances, you may be able to take advantage of buses, trains and other public transportation options to get where you need to go without delay.

3. Home Upgrades

Although a home may appear to be a dream come true, there are problems beneath a house's exterior that could bubble to the surface after you complete your purchase. Thus, you may want to put aside money for home upgrades that may be necessary in the near future.

For example, an older home may require a new hot water heater and furnace soon. And if you start saving for a new hot water heater and furnace today, you may be able to replace them before it's too late.

A home inspector can help you identify home problems. This professional will conduct an in-depth review of a residence and provide honest feedback about any problems that could escalate quickly.

After a home inspection, you can always ask the home seller to perform the necessary repairs, or you can walk away from a home offer. On the other hand, you can keep your current home offer, move forward with your home purchase and complete the upgrades on your own.

When it comes to planning ahead for hidden home expenses, a real estate agent can point you in the right direction. Your real estate agent is happy to respond to your homebuying concerns and questions and will do everything possible to ensure you are fully satisfied with any residence you purchase.




Categories: Uncategorized  


Posted by Peggy Farber on 7/20/2016

Businesspeople imitating see, hear, speak no evil conceptThe country’s long history of racism and racial discrimination effected many aspects of life in the U.S. and the world of real estate was no exception to this. In the past, real estate agents would practice things such as “steering” and “blockbusting.” In both cases real estate agents played a part in segregating different communities by race.  Whether by steering, suggesting clients look in certain neighborhoods based on their race, or blockbusting, convincing homeowners to sell their homes quickly and at low prices by instilling the fear that minorities would soon be taking over the area, their practices did not have their clients’, or the general populations, best interests at heart. In fact, ‘steering’ and ‘blockbusting’ allowed agents to reap many fiscal rewards of racism. Modern day real estate agents have a very high standard of ethics and laws in place in regard to discrimination for these very reasons. These standards make the content an agent can provide his or her clients with limited at times. There is certain information your agent can not and should not provide. An agent cannot and should not attest to the specifics of a certain neighborhood. The agent shouldn’t tell a client the area is perfect for single persons or on the other hand describe a neighborhood as family-friendly. Your agent can suggest you speak with some of the homeowners in the neighborhood in order to get a better grasp on the neighborhood’s atmosphere. Similarly, If you want to know if the area you’re looking in has a good school system, an agent can point you in the direction of where this information and data is readily available, perhaps online, and allow you to do your own research and make your own assumptions. An agent, generally, cannot provide you with his or her personal experience or opinion on these sensitive topics. This is not detrimental to you as a buyer or a seller. As a seller you are ensured your agent is showing any and all interested buyers, and as a buyer you know your agent is showing you the optimal number of homes and neighborhoods based on your desires not your race. As your real estate agent I’d be happy to point you in the right direction of any information you may be seeking while abiding by all of the highest moral standards of my profession. It is my job to have your best interests in mind.





Posted by Peggy Farber on 7/13/2016

Flipping a house simply means buying and then selling a home quickly for profit. There are different ways to do this, but if you are interested in buying and selling houses, or just want to find a good deal to invest your money in. You will want to follow some tips on how to make sure you make money and not end up busting the budget. 1. KNOW THE AREA It is not just about the house you want to buy but also the area. Focus on buying homes in an area that holds value and where homes sell quickly. The golden rule of a home, location, location, location, applies here as you will want the home to be able to be sold quickly. Get to know the average costs and days on market for homes in that area. The more information you have about the market you have chosen, the better decisions you can usually make when it comes time to buy. 2. DO NOT GET EMOTIONAL This is a business venture; your goal is to make money. Emotions and money rarely mix well. Do not get emotional about house flipping. When choosing colors, fixtures and carpets go neutral, you will not be living in the home. Be careful of becoming too attached to the flip. Choose a price to sell the home, do not overprice the home. Overpricing typically leads to you holding the flip longer thus reducing your profit. 3. KNOW YOUR LIMITS If you are new to flipping homes, it is important to know your financial and work limits. The budget will always be more than you anticipate, plan for unexpected problems. Start with homes that mainly have cosmetic problems. Look for houses that need new, modern paint or updated fixtures. Homes where the outside yard and landscaping are unappealing are usually a great buy and can yield more profit. Curb appeal is usually a problem that can be fixed very easily and relatively inexpensively while greatly increasing the value of the home. 4. HAVE AN EXIT STRATEGY The point of flipping is to get in and out as quick as possible. Every day that you own the homes costs you money. Have a plan and know exactly what you're going to do with the home before you buy. Make a schedule of when work will get done and drop dead date of the house going back on the market. If you don't know if you can sell it quickly, don't buy it.





Posted by Peggy Farber on 7/6/2016

There are so many things to think of when buying a home. It can be difficult to think of everything when you are house shopping. When you tour potential homes it can be easy to get caught up in things that may not be as important after you move in like storage, parking, and privacy. When home shopping you should make a checklist of the things you must have in a home so you don't get caught up in the new granite countertops or the beautifully decorated master bedroom. Think function over style when making a buying decision. Here are some things you may want to consider putting on your must-have list. Storage When walking through a home make sure to make note of the amount of storage. A good staging job can disguise a home with too little storage. Imagine the home with no furniture and picture your furniture and belongings in place. If you are seriously interested in the home bring a sketch pad and measure the rooms and draw a quick sketch of walls, doors, windows and closets. Location Consider the location of the home to places you frequently travel. You may only be a few miles from the store or work but what is the commute like? Do a practice run at rush hour from the home to your work. If you are moving near public transportation give that a try too. Make sure to try the commute both ways. Enough Power and Water Imagine waking up the first morning in your new home and finding out the water pressure is barely enough for a shower or the water gets cold half way through.  It is important to determine if the plumbing and wiring can accommodate your lifestyle. Check the size of the hot water tank and run a few plumbing items at a time to check the water pressure. Talk to your home inspector about the electrical system. Make sure the home inspector knows the kinds of electrical equipment you run and the number of people that will be living in the home. Privacy Many buyers overlook privacy until it's too late. Try to spend some time in the house. Look out the bathroom and bedroom windows and test what you see. Do a walk-through of the home and pretend to go through your day. Sit in the back yard and on the deck to see and listen to the neighbors.




Categories: Uncategorized