Great location
• 2,470 sq. ft., 3 bath, 3 bdrm single story - $1,200,000
Garden Hills, Guaynabo - Extraordinary house for sale in Garden Hills, San Juan, PR. It has everything you could need in a home: Three bedrooms, three bathrooms, ofiice room, huge, bright family room, maid's room, outdoor large terrace with outdoor bathroom, BBQ area, outdoor bar, swimming pool (17x25), two car garages (Fit four to five cars), water cistern, power generator. Close to small commercial center (Garden Hills Plaza) with grocery store, restaurants, pharmacy, etc. Also close to American Military Academy, close to Torrimar Park with Tennis courts, walking/jogging track, soccker field, basketball courts, parking. Close to "Tren Urbano" (subway/train). Period, a wonder place to live! Call now for an appointment.
Property information
Cond. Costamar, Isla Verde
-
Announcing a rent/lease of a 605 sq. ft., 1 bath, 1 bdrm, 1 parking space apartment. Now
$1,000
Monthly
- .
Property information
• 2,250 sq. ft., 3 bath, 3 bdrm apartment - $5,000 USD Monthly
Condado, San Juan - Ellegant, bright three bedroom, three bathroom with two parking spaces apartment for rent at Plaza Setlla in Condado, Puerto Rico. Partially furnished, this apartment enjoys an excellent location in Condado, a few blocks away from Hospital, pharmacies, restaurants, fast food and beach. The Condominium itself shates a larhe swimming pool, and a large size gymnasium. A great plaxe to live! Call now for an apponint ment.
Property information
There
are always appropriate steps to investing in real estate and hopefully,
you've garnered many of them right on these pages. However, there are
also inappropriate steps sellers can walk down when it comes time to
put their house on the market.
For
instance, the seller in Virginia, who thought the half bath the builder
had located at the front of the house would really be better situated
toward the back of the main level (though all the other similar models
had the powder room in the same place for the previous 20 years). He
got hung up on this detail so much, that he just had to move it -- and
did -- for thousands of dollars, just so he could get it on the market
the "right way." His hang-up may have settled some deep-seated
emotional need for him, but it didn't draw any more buyers, and it
drained his bottom line. You might say, that was a costly mistake.
Real estate broker and
author Sid Davis has identified in his book "A Survival Guide to
Selling a Home," another seven costly mistakes that many sellers make
when it comes time to put their home on the market. In my business,
I've seen each one of these mistakes played out and it just makes me
shake my head as to why, sellers forge ahead with unwise strategies,
instead of listening to the voice of an experienced professional.
The seven costly mistakes
Mistake 1:
Putting the home on the market before it's ready. Most times this
happens because the seller gets impatient or is a procrastinator and
has pushed himself up against a moving deadline without getting the
pre-sale work done. So it comes on the market with the horrible carpet
(that gets replaced during the marketing of the home); or they are
painting it while it goes on the market. Presentation is everything --
so get the work done before marketing the property.
Mistake 2:
Over improving the home for the neighborhood. This happens with
additions, bump outs, and upgrades that make the home stick out from
among its competitors so much that it's an anomaly, instead of a nice
addition to the community.
Mistake 3:
Pricing the home based on what the seller wants to net. This pricing
strategy always ends in failure. Sellers can control the "asking"
price, but they don't control the "sales" price. The market does. It
doesn't matter what the seller wants, the price is determined by the
black-and-white, matter-of-fact reality of the market.
Mistake 4:
Hiring an agent based on non-business factors. Make sure you're hiring
a professional with a proven track record. It might be nice to hand
over your largest asset to your nephew who just got his license -- but
make sure he has a mentor to keep your deal from going south.
Mistake 5:
Getting emotionally involved in the sale of the home. This is one of
the biggest challenges home sellers face when putting their house on
the market. Once you decide to sell your house, it's no longer a home,
but a commodity. It needs to be prepared as a commodity, marketed as a
commodity, and priced as a commodity. It doesn't matter what you
"want," only what the market can bear on pricing. People are going to
come in to kick the tires, so to speak, and you can't get emotional
about how they may or may not appreciate the nuances of your home of
seven years.
Mistake 6:
Trying to cover up problems, or not disclosing them. Most states have a
property disclosure/disclaimer form -- use it wisely. Just because you
disclaim doesn't mean you cannot be sued later for the leaky basement,
or dilapidated heating/air system that's discovered 30 days after
settlement.
Mistake 7:
Not getting your ducks lined up before trying to sell. This would
involve financing, reading the fine print on your current mortgage to
ensure no pre-payment penalties, not listening to the particulars of
your local market, etc. If your local market is dictating lower home
prices, then lower it early, not later -- it will cost you more. If the
local market dictates selling your home first, then buying second, do
it in that order, or vice versa.
Avoiding these mistakes is
not that difficult. There are plenty of resources (like this
publication) and professionals, who are there to help you step over the
pitfalls. Do the research early, and listen to that voice in your head
(it's probably the whispers of the finance, real estate, insurance
person who's warning you of a hole you're about to step into). Sell
well.
• 3,300 sq. ft. apartment - $7,000 USD Monthly
St. Mary's Condo, Condado - Spacious and bright ocean view penthouse for rent at Cond. Saint Mary's in Condado, San Juan, Puerto Rico (click on "satelive view on lower right side of pictures) for a geographic location. This ocean view, ocean front condominium has gymnasium, swimming pool. This locaation is close to the Presbytarian Hospital, Restaurants, Pharmacies, etc. Call for an appointment.
Property information
Closing costs are the actual expenses that the lender incurs in the origination of a new home loan.
I want to review some of the
costs you can expect to pay associated with any new home loan. With any
luck, the builder or seller will agree to pay at least some of these
expenses for you. But regardless of who pays them, these costs are part
of the price of buying your next home, so let's take a look. They are
closing costs, loan discount points and prepaid items.
Closing costs are the actual
expenses that the lender incurs in the origination of a new home loan.
Some of the costs are related to your loan application, such as the
expense of newly updated credit reports on all applicants. Other fees
are related to the house itself, such as the appraisal of the property.
Others are payment to the lender for processing your application, such
as the loan origination fee. All these costs are lumped into a broad
category called "closing costs." Unless the seller offers to pay them
for you, this area of expenses is charged to the buyer, and often runs
between 2 and 3 percent of the amount being borrowed. Because different
states have different fees and taxes that are a part of these costs,
it's impossible to generalize nationwide. So it's important that you
talk with a reputable lender ahead of time about what costs you can
expect to pay in your part of the country.
Loan discount points are, in
essence, a form of prepaid interest. One discount point is exactly
equal to one percent of the amount being borrowed. It is paid in cash
at closing to the lender as a form of interest. Discount points have
the effect of lowering the stated interest rate you will pay on the
loan you obtain. For example, a lender might offer you a 30 year fixed
rate loan at 8% with zero points or the same loan at 7.5% with 2
discount points. Because the points are considered interest, the yield
to the lender is approximately the same. So why, you are asking, would
I want to pay points? You probably won't, but sometimes new home
builders or employers will offer to pay up to a certain number of
points as an incentive, and I want to make sure you get everything
that's coming to you.
Last, there is the issue of
prepaid items. Most home lenders want you to set up what is called an
"escrow" account. This is nothing more than a savings account that the
lender holds. Every month you will, in addition to your regular loan
payment, deposit a sum for property taxes and for homeowner's insurance
into this account. And when the next bill comes due for taxes or
insurance, your lender will make the payment for you. The reason that
all this matters today is that, on the day of your purchase, you will
be required to set up an escrow account with about 9 months worth of
taxes and about 2 months worth of insurance payments. In addition, you
will have to pay for the first year's insurance policy in full. These
costs are called prepaid items, and you must pay for them yourself.
Because regulations and
customs vary from state to state, the amount you need at settlement may
be more or less than the amounts I have discussed here. Talk to a
reputable lender to get an accurate estimate of how much you will need
to buy your next home.
By John Adams
Realtor.Org
Ocean Park South, San Juan - Four bath, 4 bdrm other. Now $386,000 - Make your offer.
Property information
If
you're selling your house, one of the first steps you'll take is
setting an asking price, a maneuver that requires the ability to find
the perfect balance between attracting solid offers and ultimately
receiving top dollar.
If
you're working with a Realtor or other industry professional, you'll
probably hear talk of fair market value, which typically means the
highest value an educated buyer will pay. Fair market value is usually
not the asking price.
Many agents will begin by
conducting a competitive market analysis of your house and give you an
estimate of the fair market value of your home, which is a range that
will fluctuate depending on the housing market in your area and how
much similar homes in your neighborhood are selling for.
If you're in a hot seller's market, like many communities throughout California and much of the West, you'll have the advantage.
"The market has been gaining
steam, and the seller is taking control," said Nashat Benyamein, a
broker in Long Beach, Calif. "Our average number of days on the market
went from 30 days to 7 days or less."
While overpricing to some
degree can be beneficial, you'll still want to be careful and avoid
pricing your home too high, which almost always is nonproductive.
As you work with your agent
and set your price, you'll want to recognize the factors that may
prompt you to raise your asking price too much when it isn't warranted.
Some of those factors include:
- Upgrades have been added. While many home improvements will help
you recoup a good chunk of your investment, it won't give you 100
percent of what you paid. Also, the more personal the improvement—a
swimming pool, a sunroom, purple floors—the less likely it will be
viewed favorably by potential buyers.
- The need for money.
- You're moving to a higher-priced area.
- The original purchase price was too high.
- The seller lacks factual comparable sales to prove what the market value is.
- The seller wants bargaining room (listing more than 1-3 percent above market value actually reduces bargaining power).
- An unnecessary move, so you're not motivated.
On the other hand, if you're
in a neutral or buyer's market, like in Minneapolis, you'll really need
to be cautious in setting your price.
"While a few select
neighborhoods are experiencing good activity, the market generally is
favoring buyers," said Mary Jo Oren, a Realtor in Minneapolis, Minn.
"Price reductions are becoming more common and sellers are having a
tough time adjusting to fewer offers, fewer multiple offers and
increased market time to sell. Buyers are less emotional and not afraid
to offer significantly less than list price plus ask for additional
seller participation."
Generally, the asking
price—the price advertised when it goes on the market—is set slightly
higher than market value, usually 1 to 3 percent above market value.
You should assume that
negotiation will be necessary to reach an agreement with the buyer. If
you price your home too much above market value, you'll get fewer
showings and offers in which the potential buyer is fishing to
determine how low you'll go.
You'll want to establish
your priority list: Are you more concerned with selling quickly or
getting the most money possible? You'll also want to contemplate
whether you think the agent's suggested price is reasonable and whether
you'd pay that amount if you were a buyer.
Your agent, as well as
friends, relatives, and neighbors, will help you point out your house's
advantages and disadvantages that you may not have thought about
because you're too close to the house and not as objective as others.
A third party will help you
think of your house as a commodity—something with positive and negative
selling points. At that point you can decide on a price that you deem
competitive and in line what other houses in your area have sold for.
By Michele Dawson
The best advice: Don't ignore your situation
Most people who sign a
mortgage don't intend to walk away from it. Still, unforeseen
circumstances -- huge medical bills, lost jobs, divorce or eroding
property values -- can overwhelm even the best-intentioned borrower. A
simple twist of fate can leave you facing a homeowner's worst
nightmare: foreclosure.
Communicate with your lender
Rest
assured, where foreclosure is concerned, you and your lender are on the
same side. Lenders want your money and the interest that comes with it,
not your house. If you seem to be a good risk, the lender will offer to
help keep your mortgage afloat. But be forewarned: If you seem like a
bad risk, the lender may cut its losses by taking steps to foreclose
and evict you as quickly as possible. The key is to contact the
lender before your debt gets the better of you. The sooner your lender
knows of your problem, the more help it can provide.
The foreclosure spiral
The foreclosure spiral begins when your loan payment becomes 16 days
overdue. At that point, your mortgage servicer will try to contact you
to work out a repayment schedule to bring your loan current.
If your first payment
becomes 30 days delinquent and the next month's payment looks doubtful,
collection attempts begin in earnest. If your payments fall 90 days
behind, the servicer will likely refer your mortgage to an attorney or
other entity that will initiate formal foreclosure proceedings.
Here's a timeline of the foreclosure spiral:
Foreclosure timeline
Day 1
Mortgage payment due today, the first of the month. Borrower misses it.
Day 16-30
Late charge assessed on payment. Mortgage servicer starts attempting to make contact to find out what happened.
Day 45-60
Servicer sends "demand" or "breach" letter to the borrower pointing out that terms of the mortgage have been violated. Borrower given 30 days to resolve the situation by paying the delinquent amount.
Day 90-105
Servicer refers loan to foreclosure department. Hires local attorney or other firm to initiate foreclosure proceedings. Depending on the state where
the home is located, the servicer's representative may record a formal
notice of foreclosure at the local courthouse, publish details of the
debt in the local newspaper, attend hearings on the case and make
appropriate court filings.
Day 150-415
House sold at foreclosure sale or auction. Wide time range due to different state requirements. Borrowers in states with
judicial foreclosures, or those in which lenders have to retake
property titles via the court system, can get almost a year to
straighten out their affairs before the sale. Those in nonjudicial
states have as little as two months.
Day 150-415+
After the sale, some states
grant borrowers a "redemption period" in which they can still rebuy the
property if they have the money. Others force consumers out immediately
following the auction.
Ways to avoid foreclosure
Here are some options your lender may offer you if you miss a payment and want to avoid foreclosure:
Repayment plan: If you suffer a
short-term financial setback (expensive car repairs, a medical
emergency), your lender may provide some breathing room by agreeing to
let you pay off your missed payment in two installments over the next
two months.
Loan modification: Mortgage servicers
can adjust the terms of your loan -- most often by lengthening the
amortization schedule, lowering the interest rate or rolling the
delinquent amount into the loan and reamortizing the new balance -- to
help you bring the loan current.
Short sale: The lender allows you to
sell the house for less than the outstanding loan amount, takes the
proceeds and forgives any remaining debt.
Short refinance: The lender forgives some of your debt and refinances the rest into a new loan.
Refinance with a "hard money" loan: You won't like the high rates
and fees of a hard money loan -- one from a private lender -- but it
may buy you time to sell your home and avoid foreclosure.
Not all real estate agents are Realtors®?
All real estate licensees are not the
same. Only real estate licensees who are members of the NATIONAL ASSOCIATION
OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR
"®" logo on the business card or other marketing and sales literature. REALTORS®
are committed to treat all parties to a transaction honestly. REALTORS® subscribe
to a strict code of
ethics
and are expected to maintain a higher level of knowledge
of the process of buying and selling real estate. An independent survey reports
that 84% of home buyers would use the same REALTOR® again.
Real estate transactions involve one
of the biggest financial investments most people experience in their lifetime.
Transactions today usually exceed $100,000. If you had a $100,000 income tax
problem, would you attempt to deal with it without the help of a CPA? If you
had a $100,000 legal question, would you deal with it without the help of an
attorney? Considering the small upside cost and the large downside risk, it
would be foolish to consider a deal in real estate without the professional
assistance of a REALTOR®.
But if you're still not convinced of
the value of a REALTOR®, here are a dozen more reasons to use one:
1. Your REALTOR® can help you determine
your buying power -- that is, your financial reserves plus your borrowing
capacity. If you give a REALTOR®
some basic information about your available savings, income and current debt,
he or she can refer you to lenders best qualified to help you. Most lenders
-- banks and mortgage companies -- offer limited choices.
2. Your REALTOR® has many resources
to assist you in your home search. Sometimes the property you are seeking
is available but not actively advertised in the market, and it will take some
investigation by your agent to find all available properties.
3. Your REALTOR® can assist you
in the selection process by providing objective information about each property.
Agents who are REALTORS® have access to a variety of informational resources.
REALTORS® can provide local community information on utilities, zoning. schools,
etc. There are two things you'll want to know. First, will the property provide
the environment I want for a home or investment? Second, will the property have
resale value when I am ready to sell?
4. Your REALTOR® can help you negotiate.
There are myriad negotiating factors, including but not limited to price,
financing, terms, date of possession and often the inclusion or exclusion of
repairs and furnishings or equipment. The purchase agreement should provide
a period of time for you to complete appropriate inspections and investigations
of the property before you are bound to complete the purchase. Your agent can
advise you as to which investigations and inspections are recommended or required.
5. Your REALTOR® provides due diligence
during the evaluation of the property. Depending on the area and property,
this could include inspections for termites, dry rot, asbestos, faulty structure,
roof condition, septic tank and well tests, just to name a few. Your REALTOR®
can assist you in finding qualified responsible professionals to do most of
these investigations and provide you with written reports. You will also want
to see a preliminary report on the title of the property. Title indicates ownership
of property and can be mired in confusing status of past owners or rights of
access. The title to most properties will have some limitations; for example,
easements (access rights) for utilities. Your REALTOR®, title company or attorney
can help you resolve issues that might cause problems at a later date.
6. Your REALTOR® can help you in
understanding different financing options and in identifying qualified lenders.
7. Your REALTOR® can guide you through
the closing process and make sure everything flows together smoothly.
8. When selling your home, your REALTOR®
can give you up-to-date information on what is happening in the marketplace
and the price, financing, terms and condition of competing properties. These
are key factors in getting your property sold at the best price, quickly and
with minimum hassle.
9. Your REALTOR® markets your property
to other real estate agents and the public. Often, your REALTOR® can recommend
repairs or cosmetic work that will significantly enhance the salability of your
property. Your REALTOR® markets your property to other real estate agents and
the public. In many markets across the country, over 50% of real estate sales
are cooperative sales; that is, a real estate agent other than yours brings
in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information
about your property to other real estate agents through a Multiple Listing Service
or other cooperative marketing networks, open houses for agents, etc. The REALTOR®
Code of Ethics
requires REALTORS® to utilize these cooperative relationships
when they benefit their clients.
10. Your REALTOR® will know when,
where and how to advertise your property. There is a misconception that
advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies
show that 82% of real estate sales are the result of agent contacts through
previous clients, referrals, friends, family and personal contacts. When
a property is marketed with the help of your REALTOR®, you do not have to allow
strangers into your home. Your REALTOR® will generally prescreen and accompany
qualified prospects through your property.
11. Your REALTOR® can help you objectively
evaluate every buyer's proposal without compromising your marketing position.
This initial agreement is only the beginning of a process of appraisals,
inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help
you write a legally binding, win-win agreement that will be more likely to make
it through the process.
12. Your REALTOR® can help close
the sale of your home. Between the initial sales agreement and closing (or
settlement), questions may arise. For example, unexpected repairs are required
to obtain financing or a cloud in the title is discovered. The required paperwork
alone is overwhelming for most sellers. Your REALTOR® is the best person to
objectively help you resolve these issues and move the transaction to closing
(or settlement).
Finally, when working with a REALTORS®, let him or her know if your working with a second agent. You may end up duplicating your effords by seeing the same properties more than once. Remember, In general, most agents have access to most of the listings available. Also, like the fingers in your hand, not all agents are the same. Make sure that you have a competent agent, and ask if he or she is a REALTORS®, interview and evaluate competency, look at his or hers real estate website, and if satisfied, work with only him or her.
Ocean View
• 3,564 sq. ft., 5 bath, 4 bdrm 3 story
-
$950,000
- Foreclosed
Ocean Park North, San Juan
-
Spacious, corner house for sale in Ocean Park, San Juan, Puerto Rico. This foreclosed property consists of three stories, plus a terrace on roof. On the first floor we have Living room, Dinning room, Family room, kitchen, half bathroom, small swimming pool and deck. On second level, we have three large bedrooms, each with an ocean view terrace. On the third level (partially made in wood) we have the Master bedroom and bathroom with a huge walk-in closet and large ocean view terrace. Please click on "satelite view", located on the lower-right corner of pictures, to view geography (location). As most foreclosed homes, this listing would require some work. Call now for an appointment.
Property information
• 1,700 pies cuadrados., 2 banos, 4 habitaciones, un nivel
-
$100,000
- Una ganga
Villa Carolina, Carolina
-
Cómoda y amplia casa de 4 habitaciones y 2 banos, enorme cocina, familyroom, sala, comedor y estacionamiento para dos vehículos en la parte posterior. Estratégicamente localizada cerca de áreas comerciales, avenidas principales, escuelas, hospitales y aeropuerto. Excelente inversión. No dejes pasar esta oportunidad y llama para una cita.
Property information
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|
| 25 | 26 | 27 | 28 | 29 | 30 | 31 |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | 1 | 2 | 3 | 4 | 5 |
Bo. Nuevo, Bayamon $40,000.00 -
Invitamos a todos para que vean esta propiedad para la venta ubicada en Carr 816 Km 6 Sector El Coqui durante nuestro Open House el dia 15 de noviembre (domingo) 2009, de 10:00 AM to 2:00 PM.
Property information
Forclosed - Ocean View
• 500 sq. ft., 1 bath apartment - $210,000 - Make a reasonable offer!
Condado del Mar, San Juan - Forclosed ocean view studio for sale in Condado, Puerto Rico. Need TLC, and all appliances. Still a great opportunity. This unit will not las long in the market. Make an apponitment now.
Property information
Gorgeous ocean view
• 700 sq. ft., 1 bath, 1 bdrm apartment - $280,000
Condado Real, Condado - Fantastic OCEAN VIEW apartment for sale at Condado Real in Condado, San Juan, PR. One bedroom, one bathroom, one parking space and balcony. Call for an appointment now.
Property information