Resell a Miami Real Estate Home in Just a Few Steps

As soon as prices go up in Miami, more and more investors and even home owners decide on selling their property for a fortune so they could get yet another quality home from one of Miami?s real estates. But this is never easy. Often times, sellers want to receive lots of cash for their property, but not all of them would do anything to make sure they would get what they planned for. The market today especially in Miami real estate business, is so aggressive that?s why it is so important to have the place in proper order and in a competitive status.

Realtors classify second houses into a stated house and a on-staged house. The main difference between the two classifications in Miami is the price the buyer is willing to shell out for the property.

If the property is sold ?as is,? then the seller can name a price that maybe preferred. However, if the buyer does not see the cleanliness then money to be paid is also trimmed down from the original asking price. This is true for every blemish they see. That is why it is important to prepare the home and really clean the house to get the full price.

Better begin with cleaning the exterior part of the house. The outside of the house often gives the first impression and believe it or not, there are more than a hundred things that fail to be noticed. Keep all the tools and other equipment in the outside, especially the toys and the sweeping materials in the sidewalk organized by putting them in a storage box or the toolkits.

Show the beauty of the Miami house and take away the trashcans out of the visible areas during the tour. Make sure that the porch light are working bright for the house lighting plays a major role in making a person feel special or uneasy in a house and don?t hesitate to buy new door mats if it?s really needed.

Check the doors and the glass windows. They should be spotless. The frames should also be cleaned including the switches of lights and outlet covers. Put all the dirt and garbage away but never damp the clutter inside the closets.

Also polish the kitchen counters and see to it that there are not clutters on top as well. Hide the other appliances in an organized way especially the papers and other stuff not really meant for the kitchen.

Most importantly, make sure that all doors and windows especially the sliding ones are working smoothly. Vacuum the carpet and remove the visible stains. Replace all dirty curtains to show the view of Miami. In taking these simple steps, it is safe to assume that reselling a Miami home in one of Miami?s Real Estates will be next to a hundred per cent. Keep in mind that the property to be sold must look like it was really cared for and will need the same care from the new homeowners.

Cleo Capili

http://www.miamirealestateinc.com

Florida Real Estate Expert Cleo Capili specializes providing assistance to buyers in Florida. She guides families who would like to invest and purchase their dream home in the exciting warm paradise of the Real Estates in Florida. Her skills in negotiating and inventory to make sure that sales and experience bring out the best for each purchase sets her apart from the different common realtors in her location.

Cleo have good background in marketing, business, real estate financing, and advertising to give clients the best options when buying a Florida property. No matter what your needs are, Cleo could share her professional and interpersonal skills for outstanding results on each of your property purchase in Florida.

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Thinking of Buying a Condo Hotel? Here Are 20 Things You Need to Know!

1. What is a condo hotel or condotel?
Think of a condo hotel (also sometimes called a condotel or hotel condo) as buying a condominium, although one that is part of a four-star caliber hotel. Therefore, as an owner, when you are on vacation, you?ll get the benefit of more four-star services and amenities than you'd get in a typical condominium.

2. What types of services and amenities are found in condo hotels?
If you can imagine the niceties you?d find in an upscale hotel, then you can picture a condo hotel. Among the features are often resort-style pools, full-service spas, state-of-the-art fitness centers, fine dining restaurants, concierge services and room service.

In some locations, like Las Vegas, you?ll find condo hotels with their own casinos, retail areas, and entertainment venues. In places like Orlando, you?ll find condo hotels with their own water parks and convention facilities.

3. What is the difference between a condo hotel and a traditional condominium?
The big difference between a hotel and a condo hotel is that a hotel typically has one owner, either individual or corporate, but a condo hotel is sold off unit by unit. Therefore, a 300-room condo hotel could have as many as 300 unit owners.

4. Is it evident to hotel guests whether they?re staying in a condo hotel or a traditional hotel?
A hotel guest will likely never know that the hotel has multiple owners because the property is operated just like a traditional hotel and often under the management of a well-known hotel company like Hilton, Hyatt, Starwood, Trump or W. Also, each of the individual condo hotel units will look identical in design and d?cor to every other, just as they would in a traditional hotel.

5. Who typically buys condo hotels?
They?re primarily sold to people who want a vacation home but do not want to deal with the hassles typically associated with second home ownership such as maintaining the property or finding renters in the off season.

6. What is the demographic of the typical condo hotel buyer?
The spectrum of condo hotel buyers is pretty broad. There are families that want a second home in a vacation destination. There are baby boomers who are at or nearing retirement and want somewhere they can ?winter.? There are also plenty of investors who purchase a condo hotel unit with little intention of ever using it; they?re in it for the potential appreciation of the real estate.

7. Can you live in a condo hotel?
Condo hotels are not typically offered as primary residences. In fact, many of them limit the unit owner's usage of the condo hotel unit (typically 30-60 days per year) because the unit is expected and needed in the hotel's nightly rental program where it can be offered to guests and generate revenue.

8. Who gets the money when your condo hotel is rented out?
The hotel management company splits the rental revenue with the individual condo hotel owner. While the exact percentages vary from property to property, the typical rental split is in the 50%-50% range.

9. Who finds hotel guests and then cleans and maintains the condo hotel units?
The hotel management company markets the property and books hotel guests. It also maintains the unit and ensures the smooth operation of all of the hotel?s services and amenities.

10. What are the advantages / disadvantages of purchasing a condotel over purchasing typical rental properties?
Advantages include:
? Hassle-free ownership; no landlord issues
? Rental revenue to offset some or maybe all ownership expenses
? A fantastic vacation home available for use whenever you want
? A real estate investment at a time when other investments may seem less attractive
? Strong likelihood of appreciation
? Pride of ownership --I own a piece of a Trump

Disadvantages include:
? Annual cash flow could be equal to or less than annual ownership costs
? Pets are usually not welcome.
? An owner?s condo hotel unit may be rented when the owner wants to it, so advance reservations are required to guarantee availability.
? The condo hotel unit is subject to the same dips in the market that affect all hotels in the competitive market set: hurricanes, terrorist threats, warm winters up north, price of gas, etc., all of which can affect a unit's occupancy rate and the amount of revenue it generates.

11. Are condo hotel units difficult to finance?
Not at all, but they do take 20% down typically, whereas condos can be purchased with less cash down. It's also important to make sure you use a mortgage broker who has had success in getting condo hotel financing deals done. Many banks still do not do them, but more and more are getting involved as condo hotels become more widely available.

12. How long have condo hotels been around and where are they located?
Condo hotels have been around for several decades, but the huge surge of four-star and five-star condo hotels that have been making their way across the country, started around year 2000 in the Miami area. The Miami-Fort Lauderdale area still has the most condo hotels, but areas like Orlando and Las Vegas are developing condo hotel properties at an even faster rate and will likely surpass South Florida soon. Other up-and-coming areas are places like the Bahamas, Panama, Dominican Republic, Mexico, Canada and Dubai.

13. How much do condo hotel units cost?
That?s like asking how much a car costs. There are different quality condo hotels. Some require greater amounts of money than others, obviously.

There are inexpensive condo hotels out there for as little as $100,000. These are typically found in properties that have converted their use from an existing hotel. They are hotel room-sized, lack kitchen facilities, luxury franchises, and other first-class amenities.

Then there are the four-star or greater properties that may start in the $300,000 to $400,000 range, but can go all the way up to $800,000 just for a studio unit. One- and two-bedroom units cost substantially more than a studio. Of course, the studios do come fully furnished and finished, and will be significantly larger in size than a typical hotel room, and may attract guests because of its name like St. Regis, Ritz or W.

14. What are typical maintenance costs?
On average about $1.00 to $1.50 per sq. ft., but the range can exceed $2.00 sq. ft. in the most luxurious properties.

15. Do you buy condo hotel units after they have been built, or can you purchase condo hotels in pre-construction?
Unless you are in a hurry to get started vacationing or you need to complete a 1031 exchange, it's best to buy condo hotels in pre-construction as early as possible. That?s when prices are lowest and unit selection is greatest. You will likely wait two years or longer before closing on and taking possession of your condo hotel unit, but you will have locked in the price and will get the benefit of maximum appreciation.

16. Is there anything else investors should want to know about condotels?
There is more to buying this type of real estate than the old phrase, location, location, location. While most condo hotels are located in desirable resort and business area locations, what is most important is a good franchise with a strong reservation system.

Also, do not be fooled by an aggressive rental split. One way or the other, the developer of the property will have to staff, maintain and operate the hotel and its services like the restaurants, bars, spas and pools from his share of the proceeds. If he's giving you a very favorable share of the rental, he's also more likely to be charging you a higher monthly maintenance fee. Of course, this goes both ways. If the maintenance split that is offered is closer to 50-50, then your maintenance should be more reasonable too.

17. Any suggestions to investors in choosing which condo hotel to buy?
Get good advice. That means you don?t want to rely only on the pitch provided by an onsite salesperson at a condo hotel. You want to talk with a broker who specializes in condo hotels and who knows and understands the entire condo hotel market, not just the facts pertaining to a single property. He or she will listen to your wants and needs and then offer recommendations as to which properties best match your requirements. You?ll have an opportunity to comparison shop and consider the pros and cons of each available property.

A good broker can be the difference between your buying a condo hotel that will be problematic and not live up to your expectations or one that will provide you with years of great vacations, good annual revenue and a substantial profit when you sell.

18. Does it cost more to use a real estate broker to purchase a condo hotel than buying a unit on one?s own?
No. With new condo hotel properties, the prices are always set by the developer and are exactly the same whether you buy directly from an onsite salesperson at the property or using a broker.

The broker?s commission is always paid by the developer and is already built into the price regardless of whether an outside broker participates in the sale or not. Since a broker?s representation is free to buyers, it does make sense to enlist their aid and get the benefit of their advice before making a purchase.

19. How can prospective buyers find a good condo hotel broker?
Ask friends for broker recommendations or search online for ?condo hotel broker.? Visit condo hotel broker websites and see if the information they provide seems comprehensive and unbiased. If their website seems to focus on selling homes or office space, and the condo hotel information appears to be an afterthought, steer clear. Your best bet is to work with a condo hotel broker who specializes.

20. How can buyers learn about new condo hotel properties coming on the market?
Condo hotel brokers can be good information sources as they often learn about properties prior to their release to the general public. Another option is for them to subscribe to a condo hotel newsletter such as the one we publish called Condo Hotel Property Alert. We offer it for free on our website www.CondoHotelCenter.com and it features a different condo hotel property coming on the market each edition.

Joel Greene is president of Condo Hotel Center which specializes in the sale of condo hotels around the U.S. and the world. His detailed website contains condo hotel property listings, photos and detailed information. Visit http://www.CondoHotelCenter.com and http://www.CondoHotelsDubai.com. Be sure to sign up for his Condo Hotel Property Alert newsletter to be notified when new condo hotels come on the market.

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What Are The Benefits Of Hiring A Commercial Real Estate Broker?

A commercial real estate broker is a person who acts as a link between a buyers and a sellers real estate. This relationship is one of fiduciary responsibility, meaning that it is a relationship based on trust.

The person appointed as the broker, has the responsibility of ensuring that his salespeople handle the transactions according to law. The sales people are known as real estate agents and their responsibilities include representing the seller or the buyer in the transactions and making sure that they get the best possible treatment. The agent representing the seller ensures that the seller receives the highest possible price for the property they are selling, while the agent of the buyer will negotiate for the lowest possible price. The buyer's agent will also try to find properties in the best structural shape that fits within their estimated price range.

In many places, such as the United States, it is mandatory for the broker to have a license to negotiate the sale and purchase of property. The broker can act as either the proprietor of a company or as an agent for another company. There are various ways to get the certification as a broker. One way is by going to school and passing a state test. Another way is to hold a position that automatically allows you to apply for and receive the certification, such being an attorney.

Following 1992, there were brokers from Florida and Colorado that recommended that the professional relationship between the agent and the client should be broken. Instead, they felt that the dealings between the two should be strictly limited to the actual sale and purchase of real estate, without taking the personal interest of the client into consideration. In Florida, the Broward Board of Realtors went so far as suggesting that the brokers and agents merely help the selling and purchasing parties with finalizing the sale, without the bond of trust. The only requirement being that they adhere to both legal and moral standards.

The result was that in 2003, Florida amended the law and made all real estate licensees have only a transaction relationship unless there is only one person acting as the representative for both parties. This will not apply if there is a business link between the two parties.

The change in the law also made it mandatory that the aspects of the transactions be made in writing and removed the dual and sub agency designations. A dual agency results when a broker handles the transactions of both the purchasing and the selling parties. Both parties would have agreed to this arrangement in writing. The sub agency agreement meant that two agents from the same brokerage would represent the selling and purchasing parties. Like a dual agency transaction, it would have to be agreed upon in writing by both parties to the transaction.

Gregg Hall is an author living in Navarre Florida. Find more about this as well as commercial real estate loans at http://www.commercial-loans-now.com

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Where The Under Valued Real Estate Markets Are

Real estate bargains? With all the talk about a bubble, come on. Yes, there are areas in the country that haven't experienced the large run-up in home prices the last couple of years. According to the real estate research service, Local Market Monitor, six towns qualify as under-valued according to their most recent survey. An interesting note is that two are in Texas and all in more southern areas of the U.S.

Under-valued U.S. residential real estate markets:

Augusta, Georgia
El Paso, Texas
Fayetteville, North Carolina
Little Rock, Arkansas
Mc Allen-Edinburg, Texas
Memphis, Tennessee

It will be difficult to determine if these statistics will drive a boom in these communities. But savvy investors are looking for new investments for side-lined liquidity pulled from frothy real estate markets in the past two years. And with the over-valued markets taking long to adjust to market realities, many investors are ready now to find exciting growth opportunities in valued markets.

While under-valued markets look promising, you should conduct a careful analysis to determine if demand will or can be created to support higher resale prices. Look at closed sold comparables from the each of the last three years, to see if consistent appreciation and demand will work in your favor.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. He contributes residential real estate analysis to Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. View his books at http://www.1001RealEstateTips.com .

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