Save Your Money: Avoid Rent-to-Own

Although the news reports say the economy is recovering, you are probably still living paycheck-to-paycheck with every penny spoken for. While some states allow you to shop around for utility rates – for example,  Jayton, Texas residents can do a web search for “Jayton Electricity prices” to find progressively better rates – you might still have trouble making ends meet.

So when it’s time to buy new appliances, furniture, or electronics, it could be tempting to go the Rent-to-Own route.

On the surface, rent-to-own places seem like a good deal. For a few dollars per week, you can treat yourself and your family to the latest products. You can keep them the end of the rental period, and own them outright; or trade them in at any point for bigger, better, and newer models. And credit isn’t an issue, all you need is a steady source of income, and a few personal references.

But as enticing as these programs are, they are ultimately a waste of your hard-earned cash for several reasons:

Limited Choices:
These stores have the most popular brands and with the latest features, but unlike an appliance store, you don’t have the option to shop around.  For example, if you want a laptop, you might have two to four manufacturers to choose from, and only one or two models from each manufacturer. Whereas, at a non-rental store you could have a wider selection of manufacturers and models, in a variety of price ranges and that’s not including any sales or specials. Having more variety lets you find the products that better fit your budget and needs.

High Markup:
The rental stores advertise low prices and affordability, but the truth is that these places tend to charge market rates on their items which make them very expensive. For example, the price of brand-new 17-inch HP laptop at a rental place is about $1,200. A very similar unit would cost you half that much at Amazon, or Best Buy. If the item is previously-rented, you’ll pay about half what you would for new, but that’s as much as you would pay for brand-new somewhere else.

Deceptive Payment Plans:
Walk into a rental store, you’ll see the weekly rates for whatever is on the sales floor. And most of the rates seem perfectly doable — I mean, who can’t scrape together $20/week, right? But, taxes and fees bring the price closer to $30/week, and the rental term can be as long as 35 months. So if you keep that $20/week flat screen for the full length of the contract, you’ll have paid $4,200.

It Distracts You From Saving:
It may not seem like a big deal to scrape together $30 every week, but that’s $120/month. After four months, you would have paid $480 toward that item, and still have 31 months to go on your contract. And if you cancel your contract, you’re out $480 and the item.  Every month that you pay a rental item, you could be saving and, use that money to get better deals at other retailers.

Unless it’s an emergency emergency situation, like your refrigerator is broken and the only way to replace it is to rent, your best bet is to avoid rent-to-own places.

These vendors prey on the impulse for immediate gratification; don’t take the bait. Instead, take the money that you would have spent on the weekly rental and put it into a savings account. Then, when you have saved enough, use that money to shop around for the best deal.

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Uniting Your Online and Offline Real Estate Efforts

In a recent analytic study, Denver, Colorado came in second place for the fastest selling real estate market, meaning that most homes being sold in Denver are taken under contract within a very small time frame.  The average is about 1 month.

This is both good and bad news for sellers looking to put their homes up for sale in the Denver area.  Though it’s nice to see that it has the potential to sell quickly, other real estate agents have seen the same market trend, which means there’s a lot more competition.  If you want to really bring in a sale for your recently listed home, you’ll need to follow some guidelines.

Right now, the average selling price for a home in Denver is around $235,000, a figure that has risen by several percent in the last few months.  People seem to be more lenient on paying the price of a new home, but don’t think just because the prices are going up that you can inflate the value of your real estate.  It’s important to keep the price somewhere around this figure because if not, another real estate agent will and then a potential sale is lost.

Try to offer things that other real estate agents aren’t, especially if the selling price is a little higher than the others.  Offering local storage in Denver isn’t something real estate agents typically do, so giving the buyers the opportunity to have somewhere to place their valuables as they move will greatly increase interest.  A package that includes a moving truck for the new homeowners’ belongings could go a long way in generating a quick sale. Never underestimate the power of stress levels.

Putting a “for sale” sign on the house isn’t enough these days.  List the property everywhere imaginable to get as many people as possible to see it.  There are a lot of websites dedicated to selling homes in the Denver area that are really popular with prospective buyers.  You also have the option of listing the property in the local newspapers and on Craigslist.

Think about people who aren’t local in the area.  Every year, thousands of people move to Denver for various reasons and they’re all in need of homes as well.  After your ad is placed all over the town locally, branch out.  Put your listing in newspapers from outside the area, list it in some other websites that aren’t specifically for Denver, and spread the news about it via social media.  People moving into an area like this are more likely to buy quickly since they don’t want the hassle of constantly traveling back and forth, so getting the information out to them will drastically quicken the selling time.

Before putting any kind of house on the market, take a look at the trends, do some research, and see what other real estate agents are doing.  If you plan for the sale, you’ll stand a greater chance of succeeding.

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Renting vs Buying your Own House

One of the biggest investments that people make in their lifetime is buying a new home. However, before finalizing the decision to buy a new home, most of them face the dilemma whether to rent a house or buy a house. If you belong to the group of this confusion struck people, it would be good if you read further. This article will help you reduce your confusion between renting and buying a new home.

Now, let us quickly glance through the advantages of renting a house because they are fewer than the benefits offered by buying a home. When you rent a house, the only monthly payments that you will need to make are your rent and utility bills. However, when you buy a new home, apart from mortgage payments, you need to pay bills, repairs, maintenance and the interest rate. Secondly, if you wish to relocate, it is easier when you rent a house. If you own a house and plan to relocate, you will need to advertise your property, pay fees to a realtor and pay stamp duty, which will be an added trouble.

Well, now let us understand the benefits of buying a new home. When you own a house, you have the security that you can stay there as long as you want. However, when you rent a house, this security totally lacks because long-term leases are quite uncommon. Even if you manage to find a homeowner who is ready for a long-term lease, the homeowners increase the rent whenever they want to.

It is most likely that the amount of money you pay as mortgage repayment will be more than monthly rent. However, when you sell your property you will certainly profit which is not the case when you rent a house. Renting a house will offer only short-term flexibility whereas buying a house offers long-term security.

Whether you buy a new home or rent a house, every month you will spend some part of your income to pay the mortgage or rent. However, in the case of rent payment, you will be shelling out money towards something that will never be yours. When you pay mortgage, you know for a fact that the house will be yours eventually. The money spent on rent will provide you with a temporary shelter for a short time span and once the time elapses, the money will be gone forever. However, mortgage repayments will provide you with shelter for a lifetime.

A little hesitation to buy a new home is totally natural because you will start worrying about money woes and the volatility of the real estate market. However, the idea of home ownership is much more profitable as compared to renting a property. If you have a stable job and no plans of relocating in the near future, buying a new home is the best option for you. A rented house can never be a ‘home sweet home’ because you know for a fact that you will need to empty it someday, but when you buy a new home, your memories of a lifetime will stay with you forever.

Stella Jhon, a real estate agent, working as a property manager in different real estate & property management advisor. Follow me on twitter : https://twitter.com/#!/StellaJhon

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HOW TO MAKE A BETTER FIRST IMPRESSION

Want to know how to make your home more inviting with memorable curb appeal? Of course you do. It’s called creating a better first impression. So not sure where to start?

Begin with the lawn. Remove any clutter such as kid’s toys and bikes, excessive lawn sculptures and flower pots, as well as garden tools and put them in an orderly fashion inside the garage or shed. Additionally, park the car in the garage as well as the lawn mower. Now look for ways to spruce up the landscaping such as repairing any bare patches on the lawn itself with plugs or patches of sod, make sure the lawn is well manicured and that all shrubbery and trees are trimmed; add color and texture to flower beds choosing plants or flowers that are not only low maintenance but give dimension and add interest to the home. Add additional interest and timeless appeal by installing attractive edging along gardens, or by installing pavers or stones for walkways. Be sure to weed in flower beds and breaks in walkways as well.

Now it’s time to enhance the entry of your home. The front entry is the main focal point of a home’s exterior. The way it is designed and enhanced must exude ‘welcome’ and that it is an inviting home to come into. Place topiaries on either side of the door, or proportionate pots planted with small palms or tropical foliage, or put an arbor in front of the entry with lovely passion vines meanderingly winding throughout. Look at the condition of the front door. Does it need a slight makeover? Just applying a new coat of paint, stain, or sealant can really give a homes’ entry a boost. In addition, look at the hardware making sure that it sparkles and is free of tarnish. Observe the entry’s exterior light fixtures and replace with more modern ones the compliment the entryway.

One element that is often overlooked in the home is the driveway. Often there are grease stains, cracks or pits that need to be repaired. By simply pressure washing a driveway, and filling in these cracks and holes, can make quite a difference in the outward appearance of the home. For a wow factor, consider replacing the entire driveway with pavers, which are available in a variety of colors and materials such as brick, stone, slate and marble. Another item of concern related to the driveway is the garage door. Just like the front door of the home, a splash of color can make a big difference as well as framing the garage door with trellis and planting attractive vines such as mandavilla’s or alamanda’s that are perfect for the Florida tropical climate.

Is the paint on the exterior of the home chipping, peeling or cracked? Is the roof showing a bit of wear and tear or damaged from fallen tree limbs or is it missing shingles? These items must be taken care of with importance being put of course on the roof, then the painting of the home to be addressed afterwards.

Think lighting next. Enhance your home’s appeal in the dark hours by installing solar lights or lights that align a driveway, showcase a particular tree or trees, which will create such luminosity giving your home a more inviting feel.

Have unsightly or bulky items that cannot be moved anywhere out of sight such as an air conditioner or trash receptacles? You can keep these from view by installing lattice fencing around them or by planting shrubs.

Create an outdoor sanctuary. Place a cozy sitting area out in the garden under the shade of an oak tree with colorful weatherproof pillows and perhaps a water feature and tasteful yard art that not only are welcoming, but show your sense of design and flair.

Simple ideas such as these not only help to boost a home’s first impression but create a most memorable and unforgettable one helping you get the best possible price for your home.

Tim Ryan specializes in helping buyers find Naples real estate.  Tim particularly focuses on the Vanderbilt Beach area.

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2011 ON THE UPSWING

It’s time to B-R-E-A-T-H-E. The caving and excruciating death of the real estate market in 2006 appears to be coming to an end as expressed by experts. What a welcoming sign for our country as it’s been a long time coming. Our country as a whole has not experienced a downturn such as this since the Great Depression, with jobless rates at an incredible high, bankruptcies and foreclosures climbing, and the ceasing of construction. What is being seen now is a slight turnaround, enough of a turnaround to stand up and take notice, for sure. With sixty-seven percent of Americans feeling more confident to purchase real estate and are feeling that it is a good time to buy, and with real estate prices finally stabilizing, the once fearful and hesitant investor or buyer have come out of the woodwork and are purchasing properties within their means and are financially in a position to do so. These purchasers are confident in their buying power, with many being cash buyers, and some obtaining mortgage loans even with today’s strict lending requirements of private lending institutions. Many who were able to avoid the real estate crisis by not being suckered into prime rate mortgage scheme held off on making the decision to purchase until most recently, and seeing this trend now indicates a positive recovery. This trend we are experiencing now, is called a ‘buyers market’ and is characterized by a huge influx of inventory, realistically priced properties, with more sellers eager to sell than there are buyers, but the percentage of buyers out there is indicative of an upswing in our economy for 2011. And residential real estate is just one small part of that equation.

There is such a large inventory of commercial real estate as well and there have been many instances in 2010 and 2011 where companies looking to move to larger locations were not able to do so due to such high pricing a few years ago, and are now in a position to do so by purchasing for example, improved commercial buildings from corporations that filed for Chapter 11’s and were forced to close. Back during the peak of the recession, it was virtually impossible for companies that were struggling to purchase as price per square footage for these commercial pieces was ridiculous and completely impractical. Now what is being seen is a positive recovery with colleges and small businesses seeing once-in-a-lifetime real estate opportunities and they are taking advantage of these great opportunities.

Simply put, now is the perfect time to consider purchasing if one is in a position to do so. All buyers need to remember that they are indeed in a most negotiative and enviable position as well, because these days, a seller knows if they don’t accept a buyers offer it may be the last one for quite some time. Once a purchase is made, be smart and hang on to that investment. No need to rush and flip the property in a year or two; remember the rapid gains we experienced aren’t coming back for a long time, if ever.

Now that our economy’s growth appears to be on the rise, the focus needs to be shifted and concentrated on rebuilding, renewing, and embracing the realities of our financial system and its future.

About the Author: Tim Ryan is a real estate agent with Amerivest Realty in Naples, Florida. Tim specializes in helping buyers and sellers in Naples Park. Check out his site where you can details on Naples Park real estate.

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Having Trouble Closing? Ask Yourself, ‘How Would Buyers Rate my Home Staging?’ (Part Two)

Welcome back!  In my second part of my four part home staging post I want to talk about the exterior of the home.

Sit down with your client or agent and go through this list of home staging tips:
Tips on staging the exterior of your house/listing:

1. First you need to step outside with a pen and paper and jot down anything that jumps out at you – then have a friend do the same
2. Give your home a new paint job is the existing color is chipping or faded
3. Are your shutters and door the same color? Think about a more neutral color to appeal to the majority of home buyers
4. Always keep a neatly mowed lawn to enhance curb appeal, granted the season permits!
5. You can never go wrong with laying mulch. Creating new flower/plant beds can make a huge difference in the appearance of your home.
6. Again, weather permitting, plant some flowers – particularly outside the front door.
7. Make sure all the windows are spotless, inside and out!
8. If possible power wash walk ways and drive ways of debris and weeds.
9. If you have railings leading to the front door make sure they are rust free or have a fresh coat of paint.
10. Lastly, if you have a nice front porch to make it welcoming! Position a nice bench or a pair of chairs in a way that in inviting.

Tips on staging the entryway of your house/listing:

1. The entryway of any home will always be one of the most critical areas to stage, because it represents the home buys first impression of that home.
2. Always keep the entryway open and free of clutter, this is a trick in making the home seems larger right from the get go.
3. Make sure the entryway has plenty of light; this creates a warm and inviting feeling.
4. Purchase a new welcome mat. Your $20 investment will be well worth it – trust me!

In a buyer’s market, you will need every advantage you can get in order to sell your home for a decent sale price, so it is very important to stage your home effectively. But even in a seller’s market home staging can help you achieve a quick sale for the maximum sale price.
Next I will be writing about staging the family or living room and kitchen. Please follow our blog for more Real Estate tips and tricks from RE/Advantage.

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RE/Advantage specializes in Real Estate Website Design, IDX Solutions, and Internet Technology. We have been working with the Real Estate Industry for over 10 years so we understand what makes a site work for you and your buyers and sellers. After all we have been developing real estate web sites, Internet tools and marketing strategies since 1997. No one provides a more comprehensive, well-thought-out site and tool set for your Internet presence. We provide you with not only the tools to manage and customize your site, but the peace of mind that comes from knowing we are here to help if you need us.

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