Frequently Asked Questions
How long will it take to rent my property? It takes our team about about a month on average. However, it all depends on where the property is located, how it is priced, and what the competition is like in that immediate area. Email us the property address and we'll run a comprehensive report for you outlining the details and giving you our opinion of what to expect.
How long would it take to sell my property? These days, it isn't uncommon for properties to be on the market for more than a year and never sell. It completely depends on the area, the price - and competition. Email us the property address and we'll run a comprehensive report detailing what you can expect.
How do I know how much my property is really worth? We are able to give you a good estimate based on recent sales and competition in the immediation area, mixing in a few other factors that appraisers are typically using these days. Email us the property address and we will run a report giving you an excellent indication of the worth of your property today.
What should I look for in a good Property Management Company? They must have licensed Realtors available to you, as well as have extensive experience in the area, good bookkeeping, reasonable rates and accessibility.
What should I look for in a good Realtor? First, they should be FULL-TIME agents! Using someone that has a job as your realtor will almost never work. Experience is key: they should have LOTS of experience in rentals, if they are helping you rent out your property. Lots of experience in selling if selling. They should have a tried and true marketing/advertising campaign that they use successfully - and it should include ALOT of internet! These days, 90% of buyers and tenants start their search on the internet.
What's the difference in hiring one agent or a team, like yours? One agent can be successful. But what happens when they take vacation or get sick? What happens on their days off?? With a team, you get more than one agent working for you at all times, so even while your primary agent may be gone... you have other agents stepping in to show your property, field calls, and continue with all marketing efforts!
What's a 1031 Exchange? If you sell property and will have a large profit, you may want to roll that capital gains tax into another property - so you save that money. In this market, 1031's aren't as popular as they were before - as the general market value for most properties has gone down quite a bit. When you have a larger profit... you'll definitely want to consider!
Are there any tax implications in doing a "Short Sale"?
Is this REALLY a good time to buy??
If I'm a first time home buyer, what incentives can I get currently?
I belong to a condo association. The unit above has a leaking toilet, and it's now coming into my unit. They won't return my calls - what do I do? First step: Report the situation to your Condo Management Company and/or the Condo Board of Directors. If the leaks is coming from common plumbing, the COA Master Insurance policy may cover the repair.
My condo association isn't responding to requests to clean the pool. It's green and ugly, what can we do? Seek out members of your Condo Board, ask them what's going on. Communities with many foreclosures and units not paying their monthly dues are having to cut back on basic maintenance. We know of several condo communities that have hired residents to clean the pool - at a FRACTION of what the condo management company had been paying to oursource the job...
I want to rent out my property, since I can't sell it. Do I need to do anything about my current insurance policy?
I can't sell. I'm afraid to rent - any advice?
What's the going commission rate for selling property these days? Typically expect to pay 6%. In this market, if you are really motivated, offering an additional "bonus" can work. Many Realtors are charging 8% as well. Keep in mind... your agent (if good and experienced) incurs large marketing expenses to expose your property to the largest possible buyer pool. These expenses are only recouped with commission. Paying a healthy commission is incentive for your agent to spend more in adverting and marketing, and work harder to get your property sold as quick as possible!!