Oh Sandy!!! Learning to be thankful....

Sandy Making History

So I'm stuck in doors like everyone else on this bleary day...waiting for the storm to pass us by. Oh Sandy!!! During which time I am staying positive and thinking about how grateful that I am, because although we may suffer some damage nothing can be said for the damage from victims in the past Hurricanes like Katrina or the magnitude earthquake that struck Japan in 2011 and not to forget the damage that happened in Haiti from the earthquake in 2010. Many of these places, with people just like you and me, are still suffering from these devastating natural disasters. Meanwhile we get extra "goodies" and videos to ride out the storm. Almost feels like fun in amidst a bit of trepidation.

Not at all to minimize real concerns and fears of many on the East Coast. Especially as Sandy really makes it way in here beginning this evening on into Tuesday, we truly don't know what lies ahead. It makes you stop and think how important it is to be a good neighbor and look out for the interest of others.  When you get a moment take a look at these staggering statistics comparing some of the most devastating hurricanes to one another. Hurricanes that made their Mark!! Makes you take a second glance and have real respect for the laws of nature. So keep safe through it all and hopefully the damage will be minimum to none at all.

Few rules of thumb for property homeowners who have sustained some damage from the storm:
1. Take Photos of all damage
2. Save receipts if you repair or replace anything on your own
3. Do your best to try to prevent the spread of water. Check your SUMP PUMP every few hours
4. Seal off broken glass 

If you do sustain damage to your property, there COULD be substantial delays in getting workers out to fix the problem. Please don't hesitate to call a contractor before your claims adjuster is assigned to you from your respective insurance company. This can speed up the process of having your property taken care of. If you're not sure if you're covered, call your local insurance agent and ask about your coverage. 

The MRE Group is riding out 2012 with you! Be safe!!!

We're Happy Because OUR CLIENTS are Happy!

HA! So this year we made it our aim to bring together a fabulous short sale team so that we could provide the A List service our clients deserve. We are proud to announce that our goal set is working! We have added numerous clients to our short sale fold and through the top notch attorney, incredible title company and fantastic short sale negotiators our clients have walked with no deficiency judgments and have escaped FORECLOSURE. Now that's a good day at the office!

Are you laboring as to whether you should do a short sale? Worried about tax implications? Deficiency judgments a major heartache? Just need an education without feeling ANY pressure? No worries....that's my favorite line because its true. You've dropped by the right place and we are here to help. This and any of your other real estate question can be answered at Real Estate Renew.

Want to see some of the properties that we have been successful with selling as Short Sales click on MRE Group's Sold Listings.

Short Sweet and Easy....that's the MRE Group way!

Urban Trendy Entrepreneurial and Smart

Working from Home Can Be a Joy

Acquiring an Workplace Condo: 
A Excellent Option for Many

Financing

Even though getting a workplace apartment can be expensive, it is usually a better option economically than renting an office space and assuming additional overhead. Financing a your principal residence and using it as a home office is a win win because of tax advantages. With the rise in short sales and foreclosures we have seen the return of 203k Loans. These loans allow for financing to be used to cover improvement expenses and settlement expenses.   In an earlier post we have referenced the benefits of these type of loans. Read….

This type of financing makes it possible to receive monies to help with some closing cost as well as get financing to renovate and upgrade the property you are purchasing. Essentially when you set up a home office you get your business to pay you rent and thereby increase your financial position in the positive month after month and year after year.

Monthly Costs

Purchasing really is advantageous in these instances because the per month home mortgage ends up less expensive than the price of renting. As well, if you have a fixed-rate mortgage, your per month mortgage outlay is consistent, whereas with renting there is always the possibility of rental increases over a 6 month or annual basis.

When renting, you are subject to market changes, cost of living increases and the management company passing on their ever increasing cost in maintaining the rental property. All these expenses are passed on to the renter and are deemed as justifiable rental increases. Many rent with the idea that it excuses them from any responsibilities to the home. Always free to call the landlord and/or rental management company. Check the fine print. In many cases the renter is responsible for some plumbing issues, lawn and shrub maintenance and minor mechanical issues that arise.

How can one avoid these SURPRISE FEES?  A fixed-rate mortgage, amortized over thirty years which will be lower than most rents and has numerous tax advantages. What are the advantages?

Tax advantage

Let us enumerate them and then allow you to do some additional research.

1. Mortgage Interest can be deducted. Check with your financial adviser as to the extent to which you can do this, in most instances it is a 100% write off.
2. Maintenance can be deducted. The amount of space that is written off in the home is a match to the amount you can claim in deductions of various fees, such as but not limited to maintenance, lawn care,  electrical usage and the list goes on. Your financial adviser will give you additional details that match your particular portfolio.
3. Renovations  can be deducted. How do the renovations affect your office space, the ability for you to do business and your clienteles greater use of the office are all items that are taken into consideration.
4. Tax Depreciation. Again consult your financial adviser and/or tax accountant.

Long Term Benefits

Luxury Condos allow you to Work Live and Be Happy

Thus far in this post we have discussed the immediate benefits that come with having a mortgage. Not to mention the additional write offs that come with running your business out of your principal place of residence. But there are long term advantages that have not yet been discussed and/or considered. What are they and are these immediate or do they take additional work? The answers are YES and NO. How so you ask?

1. Increase in equity. The market today is stable. Not a word that we have heard frequently in concert with real estate over the last 5 years. However it now exists in our market. Homes are not realizing unrealistic 30% to 50% increases month over month. The increases now make sense, the normal 3% to 5% over 4 to 6 month period. Incremental and steady. Homes that are purchased under market that need work offer a larger potential for gain. Again consider a 203k loan a fantastic choice for today.
2. Your property could ultimately be a better pension/401k/retirement plan than any that are offered by your existing employer. If you are banking on Social Security and under the age of 55, forget about it! Call us today if that is your retirement plan.
3. The opportunity to create a wealth portfolio of rental properties. The pathway to rental properties is start with the first purchase of your principal place of residence. Buy what you can afford and make improvements. As your needs grow move on and make your home a rental. Ask any real estate millionaires, nine times out of ten this is how they began. What are you waiting for?

Get Educated

What type of business are you going to run? Will you have clients coming and going? How much space will you need? Is the area conducive to your conducting this type of business? Will there be local clientele that you can pull from? These are important questions that need to be explored as you begin your journey in finding a home that is suitable to run your business. If you are considering a condo, since that is what is being discussed, it might be best to look at the By Laws that govern the association you would ultimately become a part of. 

So many person say "Give Me an Example of this type of Property". We are exploring Urban Trendy Upscale Condos. Often these attract a community that has a strong appreciation for art. This might a perfect venue for someone looking to run an art studio of gorgeous originals. Many times it may be highly acceptable to the Condo Association because of the audience they seek in potential home buyers and/or renters. Asking if there is a possibility to purchase joint condos with the idea of expansion is a great question and makes perfect sense. The need for versatility when running an in home business is huge and designing according to your needs and specifications a must. But I can't stress how important it is to work with an agent who has this expertise and is not afraid to go the extra mile for their client. Don’t be afraid to ASK and work with a Realtor who understands your needs and respects your wishes. ASK ASK ASK!!!

Buying is the BEST option for entrepreneurs who are dedicated to seeing their businesses be successful and turn profits back into building their business. Want to discuss this option further or better yet see some properties that can allow for an in home business?

Click on Urban Upscale Condos.

*PS these pics in today's post are from a work live condo I am about to list....if your interested in getting in early let me know!

Inviting Bistro Areas--Double As A Client Waiting Area

Plants make you Smile but they also Improve House Values

Growing Flourishing Plants To Improve Your Property or home Value

With property values at an all-time low, you may want to learn some ways in which you can boost the value in your home with very little investment to help it sell quickly. Flourishing trees that flower year after, help homes to have stronger curb appeal and the would be home-buyer to see your property as more than just another house. 

Create Fantastic Curb Side Appeal!!!
There are a variety of flowering trees to plant throughout your landscape, these are fast-growing and mature quickly.  The more mature the trees you buy, the more you will pay upfront. It is always nice when a homeowner has a mixture of mature budding shrubs and flowers. As well as those that are seedlings that take time and patience to help grow. But with the proper nurturing and love they will definitely bring smiles to the faces of all that gaze at your creation. Growing trees, shrubs and plants is therapeutic and great conversation starter. It adds warm appeal to any home and makes it feel loved. Potential home-buyers see your property as not just another home, but a home where they might one day want to raise a family.

Some excellent illustrations of flowering trees that boosts the value in the home are listed below along with some of their features that will help you choose whether to purchase them for your home or not.

Dogwood trees - Many remember these trees from their childhood and the trees usually ignite a personal connection that could help make the home appealing. Dogwood trees mature quickly with buds quickly becoming apparent. Typical colors of dogwood flowers include white, white and red. They normally need very little annual maintenance and unlike other shrubs don't get overrun by unwanted garden pest.

Magnolia Plants - Magnolia trees are some of the most beautiful flowering trees available. The deciduous trees put on a show every springtime that will have many potential home-buyers asking for such a unique shrub in their entry. Deciduous magnolias are usually not worried by unwanted pests or disease. And with proper nurturing and fertilizer you will  quickly realize the blooms you long for. Most deciduous magnolias are basically covered in flowers every springtime. So much so that the divisions are hardly seen through all of the flowers.

Eastern Redbud Tree - The Southeast Redbud shrub sports flowers every springtime making the whole shrub shine in a purplish-red hue. They will blossom consistently every year, but also provide an large quantity of color in your flower garden. Even providing a hint of shade to help hide from the heat of summer or provide a bit of cool when hosting a evening BBQ before the sun has set. 

Planting flowering trees to boost the assessment in your home is practical, fun and adds beauty. Your investment of time and money will continue to boost the value in your home. Making your house feel homey no matter the season!! 

To see pictures of beautiful homes with incredible landscapes: Gorgeous Landscaping

Peering in the BENEFITS of Foreclosure

FORECLOSURE FOR SALE???

Are you a smart buyer? Your looking for great house, in the perfect location, good school district and the opportunity to purchase at a Steal! Then you are looking for a foreclosure and possibly even a short sale, but we will discuss that in a different post.

Its no secret that over the past 5 years we have seen a substantial rise in foreclosure activity. What is a secret is how good the gravy train has become. The days where every foreclosure was rife with mold, feces, rodents, banged up walls and stolen appliances is no longer. Sounds creepy right...and at one time it really was a, "go at your own risk" game, but the game has changed. The question is, Have You? Good quality homes which have been fixed and repainted are abundant as Foreclosures in the marketplace. Banks have realized they are competing and they want to introduce the property with the most appeal when it is initially listed. They no longer are looking to waste days on market with cruddy properties that get passed over because Mr. and Mrs. Homeowner just aren't out for that much of a challenge. These properties are still offered at bargain pricing over Fair Market Value homes. The best part is that they are ready for occupancy.

This doesn't eliminate the possibility for further negotiation regarding price. The bank is not sentimental nor are they emotional, they simply want to move inventory as quickly as possible. So does the idea of paying less money for a home in a desired location with the amenities you are looking for appeal to you? It should and it is possible in our current market trend. The time is now to jump in and get your feet wet. 

FORECLOSURES EXIST IN ANY TYPE OF NEIGHBORHOOD

Investors and luxury home buyers a like have an advantage in this market. The probability of purchasing higher end homes at a value half of the original price is in demand and is happening now. One subdivision that this is taking place in frequently is Westwood of Bowie. Better known as Woodmore North. These properties retailed 5 to 7 years ago for a million or more. Now they are selling for 599,900. Many of these gorgeous properties sit on over an acre of land.



Looking in Potomac, Chevy Chase, Bethesda? The value is not as extreme however we have seen a 30% to 40% decrease in value up over the last 5 years.

Smart business people are seeing the real estate market for what it is, a quality investment strategy. The speculation that drove us to outrageous marketing trends of 30% increases or greater month after month in the economic boom doesn't exist any longer. Now we have a stable market with incremental increase that make sense and home prices that are historically low. Not to mention the incredible low interest rates that ride along side this market, making for a win win situation.

We don't know when the market will rise again but those who take advantage of this foreclosure market will be in the position to cash in on wealth when it does.

Looking for Foreclosures? Go to our website and sign up a free list in the area of your choosing.  Foreclosure List Now

The Benefits of Foreclosures are abundant the opportunity is now. Will you take advantage of it or sit on the sidelines? The choice is yours. Inbox us for questions. nataliedean@mris.com