Realty Executives of South Florida

Ricardo Pires

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Realty Executives of South Florida

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Beautiful Fully Renovated Condo!

(Published on - 6/10/2024 4:37:35 PM)


RE Investment

(Published on - 10/30/2020 3:28:17 PM)

THE RIGHT REAL ESTATE INVESTMENT FOR YOU

 
 

What is an investment? For most people, it’s buying stocks and shares. However, it’s quite intimidating, given the turbulent nature of current circumstances. So if you are looking to invest, real estate is always a smart choice. It’s a physical asset, a great passive income generator – overall, a reliable revenue source. You might not have known that there are several types of real estate investments, and you should think long and hard before you decide which is the best for you.

Passive real estate investments

As the word implies, this is the type of investment where you take a more passive role. There is no driving around in search of a suitable property. Instead, there are real estate investment platforms where you can browse through the options. These platforms often function as crowdfunding websites. You will find a specific project you want to invest in. The amount of money you will put in will depend on the project and the platform of your choice. Then, your money will be put together with other investors’ money, and you will receive dividends from the projects you have invested in. Dividends will, of course, be proportionate to the amount of money you have put in. 

Moreover, passive investment means that you will not be responsible for the maintenance, repairs, rent collection or other property manager duties. You are just an investor.

Active real estate investments

If you would rather take a more proactive road, active real estate investment is your option. Beware, however, that it can be much harder than it seems. You will have to spend more time searching for the right rental property to invest in. This type of investment implies purchasing the property of choice and being responsible for all managerial duties like finding tenants. It will mean that you are the landlord, and you will be collecting rent in exchange for housing and maintenance. 

If this sounds like a suitable option for you, it’s worth considering the following points:

  • rental affordability – if it’s high, it means you will have no difficulty finding tenants, but the rent will not be as high as you’d probably like. Alternatively, if it’s low, there will be fewer potential tenants, but the charge for the rent will be much higher.
  • housing starts – this is the number of other housing facilities under construction in a particular area. If there are many constructions in development, it may increase the value of your property.
  • average house prices – look only at areas where property prices are increasing because you will ensure positive returns and charge higher rent.

Something in-between

If being a landlord is too much for you, but you do want some direct control over the management of a property, there are semi-passive options for you. One such option is hiring a property manager who will do all the heavy lifting for a fee. Another one is finding an alternative real estate investment, such as a parking lot or a garage. And finally, if you have space in your home you don’t use, you can rent it via Airbnb or Homestay websites. 

Flipping homes

Buy, renovate, sell for more – sounds pretty straightforward. However, this is the most costly, time-consuming, and energy-draining of all real estate investments. The way to make it work is to have a network of trustworthy and reliable contractors. Also, it’s vital to keep in mind that this is a risky business – the real estate market, economy, and location play an important role. So, there are no guarantees that the house will sell for more.

Nevertheless, it still has a lot of potentials. In 2020, many families who live in apartments dreamed of a house with a garden during lockdowns due to Covid-19. If you’re into making dreams come true, flipping houses is the right choice for you. All these people will have to do is hire the guys from a moving company, such as Zippy Shell Columbus or similar places, to help them relocate safely and efficiently. 

Real estate investments are always a good idea, whichever way you choose. However, you do need to do your homework before investing, for you can easily lose your shirt if you don’t play your cards carefully. But if you do, not only will you make your money back, but you will make some, and more. 

 

‘New York’s Loss Is Florida’s Gain’

(Published on - 10/29/2020 10:22:12 AM)
NEWS & MEDIA
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In Home Searches, ‘New York’s Loss Is Florida’s Gain’

By Kerry Smith

An analysis of 3Q buyer searches on Redfin’s website found 22K more people from other states looked for a Fla. home than the number of Floridians who looked elsewhere.

SEATTLE – An analysis of online state-to-state home searches provides some insight on U.S. migration patterns, and Florida appears to be attracting a lot more new residents than it could lose to out-migration.

Redfin economists looked at the viewing habits of 53,000 visitors to its website in the third quarter of 2020 and found a lot of California and New York residents ready to transition to other states. And at least for New York, a lot of residents have their eye on a new Florida home.

“New York’s loss is Florida’s gain,” says Redfin economist Taylor Marr. “When the pandemic hit the U.S. in March, remote workers started leaving New York City and its ultra-expensive housing in search of wide-open spaces, sunshine and affordable homes – all of which you can find in Florida, with the bonus of no state income tax.”

Marr says the “trend has only intensified as the pandemic continues and people feel more certain of their remote work and school plans.”

According to the analysis, nearly 53,000 more website users wanted to move out of California rather than into it in the third quarter, a 62% increase since the third quarter of 2019 and the highest rate since Redfin started tracking migration in the beginning of 2017.

The story is similar in New York, where almost 47,000 more people searched for homes outside the state than the number who wanted to move in during the third quarter – about 35% more than the 35,000 home searchers looking to leave during the same time period last year.

California and New York had the biggest upticks in people looking to move out of state – minus people looking to move in – since last year, followed by Massachusetts, Washington, D.C. and Illinois.

Nearly 22,000 more website users looked to move into Florida than the number of Floridians who searched for a home outside the state in the third quarter, which is almost double the number in 3Q 2019 and the highest net inflow migration potential for the state since economists started tracking migration.

According to economists, movement into Florida has accelerated since the beginning of the year.

© 2020 Florida Realtors®

 


Nation’s Top State for Wire Fraud? Florida

(Published on - 10/26/2020 10:56:14 AM)

Nation’s Top State for Wire Fraud? Florida

 

By Kerry Smith

Fla. has over two times more wire-fraud incidents than No. 2 Georgia. In real estate, scammers entice buyers to wire closing money to a fake address, dashing buyers’ dreams and robbing Realtors of commissions. The FTC now has a dedicated website for reporting wire fraud.

WASHINGTON – Florida has more reported cases of wire fraud than any other U.S. state, and the real estate version of wire fraud can rob buyers of their dream home and Realtors of their commission. And, in most cases, the crime is discovered on the day of closing.

To help fight wire fraud, the Federal Trade Commission (FTC) created a dedicated website to report crimes. The website, ReportFraud.ftc.gov, gives consumers an easy way to report fraud and other consumer issues directly to the FTC. The agency hopes that the website will lead to faster and more comprehensive reporting that will, in turn, help it fight wire fraud.

FTC doesn’t want to hear just about successful crimes – it also wants to hear about crimes caught early enough that the scammers didn’t get any money. It says the ReportFraud.ftc.gov website gives consumers a streamlined, user-friendly way to submit reports about scams, frauds and bad business practices.

Reporting wire fraud doesn’t just help the consumer, the FTC says. It also helps all Americans if the U.S. can better fight cybercrime.

“Every time you report scams or bad business practices to the FTC, you’re helping to protect your community,” says Andrew Smith, director of the FTC’s Bureau of Consumer Protection. “With ReportFraud.ftc.gov, it’s quicker and easier than ever to share your story, and each report helps the FTC, and other federal, state and local law enforcement agencies, fight fraud.”

One new feature of the site: Consumers who file a report will receive “next steps” from the FTC with advice on what to do based on their particular report. In addition, the FTC has general consumer information on the website, including a new video explaining how the site works.

The site takes the place of the FTC Complaint Assistant, though consumers who visit the old Complaint Assistant will now be redirected to ReportFraud.ftc.gov. To read or submit a report in Spanish, consumers should go to ReporteFraude.ftc.gov.


HOW IS COVID-19 AFFECTING URBAN BUYERS

(Published on - 10/24/2020 1:29:41 PM)
HOW IS COVID-19 AFFECTING URBAN BUYERS

HOW IS COVID-19 AFFECTING URBAN BUYERS

 

The COVID-19 pandemic took the world by storm this year, and it shows no signs of going away soon. It seems that, for the time being, we’ll have to get used to “the new normal”. But what does that look like for the real estate market? The virus and all attempts to stop it have already changed how we work, travel, even shop for groceries. Indeed, buying a house is going to look different in this new world too. It’s still hard to say precisely which changes are here to stay for good and which are just temporary. But one thing is for sure: the health crisis is affecting buyers in urban areas at the moment. In some ways, city dwellers looking for a real estate investment have an advantage because of this. In other ways, however, buying a home in the city right now is more challenging than ever.

There is less competition for urban properties at the moment

Before the coronavirus pandemic struck, experts predicted 2020 would be one of the best years for real estate in decades. While those predictions never quite came true, they also weren’t that far off: most real estate agents are reporting postponements rather than cancellations from potential buyers. This proves that people are still very much interested in investing in real estate even now.

But what exactly people look for in a home is changing. At least temporarily, the focus has shifted away from urban properties with suburban and rural properties showing a significantly higher increase in views-per-property (13% and 16% respectively, compared to a 7% increase for urban properties). However, if you’re looking for a home in a metropolitan area, that works in your favor. With fewer people showing interest in such properties, it’ll be easier to find and purchase the perfect home in the city, because you won’t have as much competition.

New and better real estate is being built right now.

Just like with suburban and rural properties, more people are showing interest in new construction. As people spend more time at home during the pandemic, they realize what exactly makes a perfect home – open plans are becoming less popular, buyers are looking for bigger houses, and home offices are increasingly important. Thus, we can expect COVID-19 to affect home design as well. So if you’re looking to invest in the future, you can expect even better homes on the market soon.

How is the health crisis affecting buyers in urban areas negatively?

Unfortunately, buyers in urban areas will also see some negative impacts of the pandemic on the real estate market. Despite less competition and better offers, looking for a home may seem more difficult in many ways now than it was a year ago. However, this shouldn’t discourage you from looking for the perfect new property because agents have adapted and can show you homes in a safe and socially distanced manner.

People are less likely to sell and more likely to rent out.

If there’s anything we’ve learned from the COVID-19 pandemic with regards to real estate, it’s the importance of owning your home. Many renters who lost their jobs due to the crisis have found themselves struggling to pay rent and facing eviction. On the other hand, landlords have mainly maintained a steady income even in states that passed temporary rent collection restrictions. This may incentivize more people to purchase a property. However, it is also a reason why fewer people will want to sell their homes now – owning property (and especially multiple properties) has proven to be quite an asset that most won’t want to part with.

It is harder to find the perfect home through virtual viewings only

Due to the coronavirus safety measures, viewing homes in person is not always an option these days. Instead, most people get a virtual viewing through photos or videos. This may seem like one of the less relevant ways in which the health crisis is affecting buyers in urban areas, but it may actually have serious consequences. Inspecting a home in person allows you to get a better impression of it with all your senses: you’ll know not just how it looks but how it sounds, smells and feels. You’ll lose some of that experience in virtual viewings. Additionally, it is easier to hide imperfections in staged photos and videos than in person. To avoid surprises, follow these steps:

  • work with a trusted real estate agent who knows the area and will only show you high-quality listings
  • ask to see places that typically hide imperfections – under the furniture, behind the radiators, corners
  • ask about the noise levels in the neighborhood
  • try to schedule a socially distanced in-person viewing at a later date

Is the health crisis affecting urban property prices?

One of the most important questions about the health crisis affecting buyers in urban areas relates to the prices. Unfortunately, it would appear at this time that the crisis has not significantly impacted home prices in urban areas. It is hard to say if this will change as the pandemic continues. At this time, however, experts do not expect to see drastic trends towards cheaper real estate. In fact, prices may go up after the pandemic as people return to the cities.

But which of the effects we see right now will stay with us in the future (and for how long), and whether the overall impact will be positive or negative for buyers- remains to be seen.

Author’s bio

Ashley Koh is a professional journalist and interior design enthusiast. After buying a smart home in 2016, she developed a keen interest in following modern real estate trends. These days, she combines her two passions by covering real estate news for losangelestransfer.com. Her dream for the future is to one day design and build her own home.


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  • Ricardo Pires
  • Realty Executives Agent
  • Realty Executives of South Florida
  • 643 East Atlantic Blvd
  • Pompano Beach, FL 33060

3318569

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