Prince edward island realty
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Investing in Real Estate
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As value raises beyond bounds, you will be able to shed the load off from your shoulders and live comfortably.
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How the Real Estate Industry
Construction of new buildings
The first step begins with a plan to create and construct a property that is going to cater to a specific set of interests and choices. With that in place, everything will head into the next scope of action.
Real Estate Agents
Agents and other officials tend to enter the picture and smoothen the entire process, which is bound to help you receive a number of benefits. As a result, you will be closed to accomplish your objectives.
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Experience the 𝗟𝗢𝗚𝗜𝗖 of Home ECHOnomics…
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Courtesy of David Huberman and Tina Wiley of Gustave White Sotheby’s International Realty
NEWPORT, RI – Gustave White Sotheby’s International Realty announced the listing of ‘Ocean View’ at 662 Bellevue Avenue in Newport, Rhode Island, a spectacular oceanfront estate located at the south end of Bellevue Avenue, one of Newport’s most desirable locations. This historic property has been owned by one family for almost a century, making it a very rare opportunity. The oversized floor to ceiling windows provide unparalleled light and 270-degree views of the Atlantic Ocean. The everchanging scenery between sea and sky offers everything from heroic sunrises to crashing waves during ocean storms. Currently configured as a family compound, the main residence is comprised of three separate living quarters. Each unit offers its own living space including a kitchen and primary suite. Separate outdoor living spaces include a patio and deck with southern exposure overlooking a sprawling lawn to the water’s edge. A variety of mature specimen trees, beautiful shrubs, plantings, and flower gardens create a very stately feel. A charming carriage house cited near the entry offers ample guest living space, a private garden and a six-car garage.
‘Ocean View’ was originally built in 1866 for William H. Reynolds in the Second Empire French style, which was most popular in Newport cottage architecture during this era. The house was considered one of the most distinguished of the mansard-roofed homes built in the 1860s. The architect, William Russell Walker, designed this seaside cottage to capture the dramatic views of the coastline, Newport’s famed Cliff Walk and the sea beyond.
662 Bellevue Avenue is listed at $18,850,000 by David Huberman and Tina Wiley of Gustave White Sotheby’s International Realty.
About Gustave White Sotheby’s International Realty
Gustave White Sotheby’s International Realty is a full-service agency specializing in waterfront and luxury real estate and serving all of Rhode Island as well as southeast Connecticut and coastal Massachusetts. Gustave White has been in business for over 90 years as a leader in the luxury market and became Sotheby’s first affiliate in 1976. Gustave White is also the Rhode Island Regent member of Who’s Who in Luxury Real Estate. Listing sales agent David Huberman may be reached at 401-316-6051 or firstname.lastname@example.org for more information.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational, and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.
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A Beginners Guide to Wholesaling Real Estate
Are you looking to buy wholesale real estate but don’t know where to start? The first thing you should consider is whether or not you want to flip houses. Flipping houses is a wholesale activity and requires the same wholesale prices that are found in retail properties. There are a few things to keep in mind when entering this business. If you are serious about making money flipping houses, there are a few things you should know about before you get started.
There is no real easy way to explain what a wholesaler is. A wholesaler is a company or individual who buys low and sells high. For example, let’s say you bought a piece of property with the intention of turning it into a rental property. The property has a great roof, was fixed up fairly well, and now you are thinking you would like to sell it for profit instead of renting it out. This is where the difference between a wholesaler and a property dealer comes into play.
Property dealers are much more interested in getting a property to rent out. They will spend a lot of time and money fixing up the property and making it ready to sell, rather than fixing up the roof and putting in the proper plumbing. A wholesaler on the other hand wants to get their first wholesale real estate deal out the door as fast as possible. The difference in the two techniques comes down to time and money. Property dealers can spend weeks or months on just one property, whereas a wholesaler will make multiple deals with different properties in different locations and may even have bought or closed deals with multiple owners at one point in their life. Because of the sheer number of deals these individuals will have had, they have lots of money and time to put into each of their first wholesale real estate deals.
So which one should you choose? Honestly, it really depends on what you are looking to accomplish with your investment. If you are looking to make money quickly and easily then go with wholesaling. But if you want to slowly build an investment portfolio then you will probably do better with a property investment company. There are also some investors who think that you can get a better return by going with the wholesaler route because of the lower overhead.
Either way you will learn how to wholesale real estate and to make quick and easy profits, but in order to do this you will need to learn how to close a wholesale contract. You can find a wholesale contract in three different forms: paper, electronic and verbally given. Whichever way you chose to go with, you will need to know exactly what a contract is and how to properly close a contract. While there are tons of great books and websites out there that will teach you how to do this, I would highly recommend investing in a course or two before you dive in.
There are no real secrets to making quick and easy money. The only secret is getting out there and finding your niche. As I mentioned before, I recommend taking advantage of a course or two before you start flipping houses. There is a lot of information out there, but it is all very basic and could take you months to master. By doing a wholesale real estate business and learning how to close a contract, you will be able to make money in no time flat.
Successful Historic Home Inspection
Home inspections are the best defense against buying a historic property that’ll cost you a fortune in repairs.
Property inspections are often deal killers. During real estate transactions, according to the National Association of Realtors, one in every 20 deals hit a dead end. And, a third of homes that don’t make it to a closing fall apart due to inspection-related issues.
Real estate appreciates in value. However, the physical structure of a home deteriorates naturally over time. This explains the need for proper home maintenance to keep your property in a good condition.
The wear and tear on the inner workings of your home, unlike issues such as a deep crack in the exterior walls or pipe bursts, aren’t visible to the naked eye. This explains why a home inspection could reveal nasty surprises even in a property that looks good due to routine maintenance.
The layout, ambiance and colors of a home can easily appeal to buyers. But, a home inspection is the key to doing a reality check on the property before paying for it.
Why get an inspection on a historic property?
A home inspection involves physical and visual evaluation of a property for sale, from the roof to its foundation. Buying a home is a costly affair, probably the most expensive purchase you’ll ever make in your lifetime.
Inspection ensures that you invest in a property that won’t cost you a fortune in extensive repairs. It helps identify hidden issues for correction before they become costly repairs. You can save thousands of dollars through simple and timely repairs.
Apart from discovering problems before they deteriorate, inspection also helps plan and budget for any building or remodeling projects you may need. You can also renegotiate contract terms or back out without losing your money based on home inspection findings.
Whether you’re a first-time home buyer or want to buy your second, third, or fourth property, here are tips to help you conduct a successful historic home inspection:
1. Prepare for home inspection and negotiations
Home buyers schedule home inspection within 10 days after sending an offer to the home seller, and it’s been accepted. Your real estate pro can help you find a reliable and trustworthy home inspector.
A trustworthy realtor has lots of experience with home inspections and thus can help you prepare. The preparation process would include:
- Understanding the most common home issues for maintenance in the area such as poor electrical wiring in historic homes, water leakage in basements or pet-related problems in warm climates.
- Creating a plan for repair requests; it indicates whether you’ll do DIY repairs, hire contractors or provide repair credits to fix identified issues.
- Determining how much you can leverage in the local real estate market either as a seller or buyer, and how fast buyers will want to buy your home.
- Knowing how to differentiate major and minor home inspection findings, including the basis for negotiations (consider safety or heath threat issues vs. cosmetic repairs).
The best home listing agents don’t just sell properties, but also provide buyers with all the information they’ll need every step of the way. As a buyer, you learn more about the local housing market and how to target an-out-of-market property.
2. Create a historic home inspection checklist
A home inspection checklist can help you evaluate and plan for a good maintenance service to protect your historic home. With the right checklist, your inspector can identify potential issues with the property.
You can also use it to schedule work, set priorities and control maintenance costs of your new home. Unlike buying a new home, repairing, restoring and maintaining a historic home is cheaper in the long-term.
The things an inspector is likely to include in the home inspection report may impact health, safety or even violate a building code. So, what do home inspectors look for during an inspection? They include:
- Structural integrity
- Roof and roofing materials
- Water damage
- Exterior walls and interior spaces
- Faulty wiring
- Leaking or corroded plumbing issues
- Functionality and age of the HVAC
- Foundation stability
- Flooring quality
- Asbestos (visual inspection of asbestos fibers on exterior shingles and heating pipes), lead paint (lead paint testing and replacement of old windows) and noxious gases for safety from hazardous materials to human health.
- Presence of oil tanks
- Checking collapsed septic systems and damaged sewer pipes in waste systems.
3. Hire a reputable inspector with specialization in historic homes
When planning to buy a historic home or property, opt for an inspector who focuses on assessing historic homes. Although a standard inspector is experienced in general home inspections, they may lack the specialty you need when assessing historic homes.
The standards and architecture used when building old homes were totally different from what you’ll find in modern homes. Therefore, an average inspector may not offer the experience your historic home needs.
If you’re planning to remodel or renovate the property, you’ll need a structural engineer or contractor to embark on the project.
Do your research well to find a trustworthy and reliable inspector with the right skills, experience and knowledge in assessing old properties.
Although your realtor can recommend an inspector, find one on your own to access unbiased services concerning discovered issues. However, home inspection services don’t come cheap. Expect to pay extra for quality home inspection services.
A good inspector, according to the Historic Building Inspectors Association, has inspected a minimum of two old homes built prior to 1925 and has passed all modern buildings inspector exams.
The professional can also discuss the type of construction the historic home was subjected to and its potential for maintenance. A good inspector can also create a checklist for the home inspection and share with you tips on how to care for your new home.
Nachi.org and homeinspector.org are two good places to begin your search for a reputable home inspector.
With the right tips and a reputable home inspector experienced in evaluating historic homes, you’re on your way to a successful inspection of your old property. Prepare and plan well to make the most of a scheduled home inspection service.
How Much Money do Real Estate Agents Make?
Many people believe that all real estate agents make a lot of money, but in some cases that isn’t true. In others it is. Here we will take a look at how commissions work and how much money a real estate agent makes.
Most Income is Commission-Based
Most licensed real estate agents work on a commission basis. They earn a commission based on the sales prices of the homes they help people buy, sell, or rent. Some real estate agents have other jobs and only work in their real estate businesses part-time. It’s very likely that these agents don’t earn very much money at all. The majority of successful agents are full-time real estate agents. These agents depend on their income to pay for their housing, food, clothing, and other bills. Full-time real estate agents can make somewhere in the six-figure range or even millions of dollars a year. It all depends on how hard they work and what they do to get business. The most successful real estate agents have real estate coaches.
Real estate brokerage companies actually receive the commissions their agents earn. Real estate agents cannot receive their commissions directly. A real estate commission is typically a percentage of a sale. Sometimes the commission is a set dollar amount. This is more typical with rentals. Commissions can be earned from a seller’s sale, a buyer’s sale, or a rental. There is no set commission percentage or amount. Commissions are not set by law and are always negotiable. Real estate brokerage companies usually get somewhere between two to three percent commission for a buyer’s sale and between one percent to three percent for a seller’s sale. For rentals, the total commission charged to a landlord is usually approximately one month’s rent. Real estate agents have to split their commissions earned with their brokerage companies. New agents might split their earned commissions on a 50/50 basis with their company. This is because they need more help and training with their transactions. More experienced agents might be able to negotiate that they keep 80% of their earned commissions or more.
Let’s say a real estate agent sells a house for $300,000. If the agent makes three percent in commission, he will make nine thousand dollars for that sale. If the agent is able to sell a home like this every month, he will make $108,000 in commissions that year. That’s nine thousand dollars times twelve months. Many real estate agents don’t have systems in place to help increase their leads, their lead conversion rate, and their sales. It is proven that agents will earn more money if they have systems in place. If a real estate agent hires a coach who teaches the agent systems to put into place, he may be able to double or triple his earnings. This means the agent will now be making $216,000 or $324,000.
Hiring a Real Estate Coach
Real estate coaches have proven systems. If a real estate agent hires a coach, he will be able to maximize his leads, increase his leads conversion rates, and increase his sales. In turn, this agent will make more money. Real estate coaches have time management systems in place to help agents do their work on a schedule so they have more time for themselves or for their families. Some real estate coaches claim they can help agents earn up to twice or three times what they are currently making. Some claim they can help agents earn up to ten times the real estate industry average.
Systems That Work
Once an agent has his daily systems in place, he will be able to generate and capture more leads and nurture his relationships better. When an agent works on a system basis, the typical workday might begin at 5 am. The agent may start his day by taking care of himself and his family. This might include praying and meditating, exercising, showering, having a healthy breakfast with his family, and doing a couple of things around the house.
If he does these activities all before 8 am, he’s set up for a very productive workday. At 8 am the agent should work on lead generation by emailing the number of people his coach has him scheduled to email, call people, get mailings ready for the day, and so on. Then, he will work on nurturing the relationships he already has with phone calls, texts, and emails. The agent will work with his current clients on their purchases and sales. It’s important to set up a time block during the day to go on out-of-office appointments such as listing appointments, showing buyers homes, inspections, and so forth. At the end of the day, the agent is able to go home, have a nice dinner with his family and enjoy the evening. Some evenings might have to include working if some clients cannot meet during the day. Working nights and weekends on occasion is typical in the real estate business.
It is proven that real estate agents who work full-time, have systems in place, and work with a real estate coach will make more money. Real estate can be a very lucrative business to be in. Hard work and determination is the key to success.
Buying a Home
Buying a home is one of the most important purchases that you will make in your life. It is a big decision, so you want to make sure that you are taking all the right steps to ensure that you are getting the best deal possible. A Realtor can walk you through the entire process of buying a home, giving you a bird’s eye view of what it will entail. This person can also help you find the right home for your needs, whether you are a first-time buyer or if you have had experience buying homes before.
A Good Realtor
A good realtor will work with you from start to finish to make sure you know what you want. They should take time to go over everything from the amenities on your property to the listing price and the financing options that are best for you. A good realtor is also a great resource for other services like pest control, financing, inspections, upgrades, repairs, etc. They can make finding and keeping a buyer easy and hassle-free.
Whether you are buying a house, a condominium, a mobile home, or an apartment building, a real estate agent will be able to point you in the direction of everything that you need to know to get started. This is because a Realtor has relationships and contacts that other people do not.
When it comes to real estate transactions, a realtor is the one who helps you find the home that is right for you and your family. They will often have already narrowed the number of homes that are available through their listing services and will be able to tell you how much each home is worth based on its location, neighborhood, age, condition, and many other aspects.
Don’t Forget the Inspection
Home inspections are not something that most people consider until they need to buy a home, but when they are done, they are often looking for the same thing – In accordance with the state’s standards, the home inspector identifies health, safety, or major mechanical issues. After the home inspection, the buyer and seller can either negotiate the contract or part ways completely.
Ever Since Covid-19 Gripped The World, It Has Impacted Not Just Our Lives But Also Our Economy. Even Though Many Of The Restrictions Are Being Lifted, The Pandemic Has Not Ended Yet. This Is Because The Devastating Pandemic Has Caused Huge Losses And Changed The Whole Working Of The Business. As Far As Demand Is Concerned, It Is No Doubt That It Is Going Up But It Also Depends On The Place And The Overall Economy.
In Matters Of Sales, They Are Sinking. The Jobs Will Suffer a Lot As Due To The Unprecedented Lockdown, Much Of The Work Has Been Affected. However, There Will Also Need To Be Taken Strong Steps By The Financial Institution s And The Government To Make Sure That The Economy Doesn’t Suffer a Lot. Jobs Are Scarce And The Future Remains To Be Uncertain. This Will Increase The Material Cost As The Labor Will Be Less Because Most Of The Work That Is Carried Will Find It Hard To Get The Laborers. Due To The Absence Of Labor, The Cost Of The Construction Will Go Up.
Real Estate Sector:
The Changes In The Real Estate Sector Were Predicted In The Early March Of 2020. The Experts Suggested That The Prices In The Market Can Rise As People Are More Interested In Buying Land. With Residential Businesses And Startups Collapsing, Real Estate Has Proven To Be The Safest Investment. Stock Market Is Not Doing Well And In That Case, Investment In Real Estate Will Be a Wise Decision. As The Sector Is Becoming The Dominant And Preferred Investment, The Prices Are Increasing And In a Post-Covid-19 World, Real Estate Will Be a Productive Investment.
When Investing, This Is The Major Concern Of Every Investor. How Safe An Investment Is? Covid-19 Has Affected Almost Every Industry But It Has Left Real Estate Untouched. You Could Keep The Investment And The Prices Won’t Drop. Predicting The Future Is Impossible, But Real Estate Has Proven To Be a Safer Choice As Compared To Other Sectors. To Take An Example Is The Instance That Happened In China After The Outbreak Of The Virus. The Real Estate Prices Became Favorable Choices As More People Started To Work From Home. Compared To Other Sectors, It Performed Well, And As The World Heads To a New Order, Real Estate Will Be One Such Sector That Will Bring In a Lot Of Investment.
The Post-Covid-19 World Will Have Its Demands That Will Need To Be Met. The Gated Community Will Be One Such Thing That Will Be More Seen And People Will Prefer To Shop In Areas That Are More Sanitized And This Will Change The Whole Commercial Set Up.
As Most Of The People Are Working From Home, This Has Led To a Positive Change In The Real Estate Market. Even Though The Restrictions Have Not Been Lifted, It Is Expected That In The Post-Covid-19 World, Real Estate Is One Such Sector That Will Attract More People Than It Does Now.