| How to Buy Your First Condo without Getting Burned |
|
Monday, January 7, 2008
First I learned to pick a real estate agent I know or at least one who has been recommended. There are so many behind the scenes deals going on, with some of these realtors, that you can't tell whether they actually care if you get a good deal or not. Some realtors only work with certain builders or certain properties. This means that there is a whole world of other condos out there in your price range that you may not be seeing. Next I learned to check the construction. Here in Florida you want a concrete based construction. Many of these new condos or apartment to condo conversions use what seems like pliewood. This is not a great idea in a state full of termites and humidity. The last thing you want is to find mold growing on your fabulous outfits, when you open your closets or see chunks of your wall missing. Also with the number of hurricanes we get down here, the concrete based buildings have a much better chance of surviving. Ask the realtor and the seller what the building is made out of. They are legally required to answer your questions. Also, ask if they have had any problems at all with the unit or the building. If you don't ask they don't have to tell you everything. That is where the saying buyer beware comes from. They have to answer your questions honestly but anything left unasked is your responsibility or for the courts and your lawyers to battle out. Talk to your future neighbors. If everyone living there looks depressed or pissed off there may be a darned good reason these units are for sale. Also look at the cars parked in the parking lot. Are they BMWs or beat up Chevy's with bullet holes? You don't have to live at the Ritz but you also don't want most of the units to be composed of drug dealers either. Check into the surrounding area. Are you close to a good school? This should help your property retain its value. Also check on the criminal statistics in that area. It may look pretty during the day but what happens at night? Research is your best tool. Selling prices of sorrounding units and properties are public record. See what the properties around you sold for in the last few months and compare it to the asking price. Are the seller's expectations too high? Negotiate. Never give full asking price. Here in Orlando, I have heard of houses going for more than the asking price. This is nuts! Everyone is acting as if there won't be another house for sale ever. This is ludicrous. Every time I drive down the street, I see new houses posted for sale and these signs are staying up for longer periods. There are motivated sellers out there. See if the owners are still in residence. If they are still living there, they may not be completely motivated to sell. After all they are only paying their mortgate, as usual. On the other hand if the apartment is vacant and the electricity is turned off, they may be alot more motivated to sell. They are now paying the mortgage for an empty condo plus rent or another mortgage on another property. These are just a few tips on making sure you get a first home that you can be proud of and happy in. Happy Hunting. About The Author: Caterina Christakos is a published author and a private real estate investor. To learn more tips on how to buy property and find investors go to: http://www.a1-real-estate-investing.com Georgia Real Estate – Southern Hospitality Known as the Peach State, Georgia is the state of southern hospitality. If you prefer the traditional southern culture, Georgia real estate is certainly worth a look. Georgia The largest state east of the Mississippi, Georgia has a long and glorious history. Civil war monuments are rife throughout the state as are small towns with turn of the century homes. Notwithstanding this culture, Georgia is also a very modern state with growing cities such as Atlanta. Atlanta The most populous city in Georgia, Atlanta is a growing metropolis. From a sports perspective, the city has Michael Vick and the Atlanta Falcons, the Braves, basketball, hockey and has even hosted the Olympics. Raised in 1865 by General Sherman, the city has a newish feel and has grown to a population of over 3.5 million people. The city can be classified more as a modern city than a traditional southern one. Savannah If you're looking for a true southern city in Georgia, Savannah is the place. Located on the border with South Carolina, Savannah is a step back into the past. With tree-lined streets, the city hosts a variety of architecture from the 18th and 19th century including Victorian homes and old manor. Streets are dwarfed by huge, ancient Oak Trees. To see Savannah, rent of buy "Midnight in the Garden of Good and Evil," which was filmed in the city. Athens Roughly an hour north of Atlanta, Athens is a mix of southern culture and college town. Home to the University of Georgia, the town has a population of 30,000 plus students. This influx of students gives the city a liberal feel, which is unique for the south. Georgia Real Estate Georgia real estate prices vary by location with the metropolis of Atlanta dwarfing smaller town real estate. A single family home in Atlanta will set you back $300,000 on average, while $250,000 will do the trick in Savannah and $230,000 in Athens. The appreciation rate for Oregon real estate depends entirely on the location, but averages a moderate six percent for 2005. If southern hospitality is your ideal, Georgia may be your destination. With reasonable real estate prices, you can pick up a good deal. Raynor James is with FSBOAmerica.org - a FSBO homes for sale by owner site. Visit our "Sell My Home" page to list your FSBO Home or visit our home buying page to see homes for sale. Hawaii Real Estate – Paying for Paradise Where does one even begin to start when discussing the island paradise of Hawaii. Perhaps with an inflated Hawaii real estate market for those considering relocating. Hawaii Formed by volcanoes, Hawaii is a collection of islands that feel like paradise. In fact, the islands continue to grow with active volcanoes consistently producing new lava flows and adding to the land mass. Loihi is going to be the newest island, but is still underwater at this point. If you have a long-term view, however, you can start saving money for a deposit now! Each island of Hawaii has unique features to satisfy the desires of anyone locating. You can get rain forest, soaring mountains, prairie like areas and, of course, beaches, beaches and more beaches. If you love the ocean, there is no better place to live than Hawaii. Maui Perhaps the most popular of the islands, Maui is a hot spot for travelers seeking fun in the sun. Ripe with beaches and golf courses, one can't help just looking around and admiring the view from practically anywhere on the island. Lahaina is the main resort area in the north and Wailea is a surf mecca on the south end of the island. Honolulu Located on Oahu, Honolulu is the biggest city in Hawaii with a population of roughly 400,000 residents. With the major airport in Hawaii and beaches of Waikiki, Honolulu is the first designation of most travelers. The city is situated up against mountains and is about the only place you'll find skyscrapers and traffic jams of freeways. With only 400,000 people, the city is not over populated. Still, it is a city and probably the least attractive location on the islands. In Hawaii, that is a very relative statement. Hawaii Real Estate Hawaii is a paradise and Hawaii real estate prices reflect it. Surprisingly, the prices are actually a little less than California. A single family home in Honolulu is going to set you back roughly $730,000, while the same home in Maui will average $20,000 more. On a positive note, real estate in Hawaii has appreciated at a rate of approximately 26 percent in 2005. Hawaii is truly paradise on earth. Unfortunately, the real estate prices reflect it. Raynor James is with FSBOAmerica.org - a FSBO homes for sale by owner site. Visit our "Sell My Home" page to list your FSBO Home or visit our home buying page to see homes for sale. |
|
||||