What's on your Mind

There is never a dull moment in real estate. Every buyer and seller that I meet has different problems and needs that an agent must be able to solve to the best of his ability. This is why it is important that you communicate with your agent when you are planning on buying or selling a home. It's probably a good idea to tell your agent that you are in debt and have a poor credit score before you make him spend gas money and show you homes that you cannot afford. Also, if you are selling your home, tell him what kind of mortgage you have and if you are current on your payments. Don't neglect to tell him you are behind on your payments on your adjustable rate mortgage when he's trying to sell your home. In that case you would be a short sell candidate and would require the agent to change the entire process making things more difficult for you and the agent. Communication is key when working with an agent because it prevents both of you from wasting each other's time and makes the process of buying or selling a home much easier.

Make up your Mind Already!

The Internet has become one of the most influential forms of technology in human history. It has changed the way we live our lives and also the way we think. We can buy anything from shoes to even houses on the Internet. More importantly, we get an endless stream of information 24 hours a day seven days a week. We can get news events that have happened from around the world in a matter of seconds. But with all the good that the Internet brings, there is also a big problem that comes with it. It's good to have a wealth of information at your fingertips, the problem is that it can be too much to decipher. And not all the information we receive can be accurate or even true at all. This leads to something I like to call, "information paralysis." This term relates to how people's decision making is affected by the amount of information they receive. The Internet for example, provides an almost infinite amount of information. So if one were to do some research on a particular purchase they want to make, say for example, a home. They would be bombarded with some much information that they won't know what to do with it. The effect of this is there inability to make a decision on there purchase. This paralysis can apply to other circumstances like researching news, history, people searches, school related information, etc. With all the information available how can we decipher it all? The best thing to do is don't spend to much time researching on the Internet. You can usually find what your looking for in a matter of seconds by just typing in the right words in a search engine. Also, use reputable sources as a means to get information. The Wall Street Journal and the New York Times online offer great sources of news information and provide various political points of view that Republicans and Democrats can appreciate. Consumer Reports is another great website for shoppers if your looking to find the best quality products at the best price. And if you can, do it the old fashion way and go to the library to do some research. You'll be surprised at what you might find. All in all the Internet is great, but make sure you don't get overwhelmed and don't always rely on the net as your only source of information

To Rent or not to Rent

With the current real estate market, many consumers are deciding to rent instead of buying due to the difficulty of getting a loan. Many banks are having cash problems and are putting new tougher restrictions in acquiring a loan. Besides a great credit score, banks want liquidity equal to six months worth of living expenses. These new standards are forcing many would have buyers, especially young professionals, to rent instead of buy. Renting is a good option for the short term but it is not something that should be used in the long term. When you rent, you are paying a monthly payment to the owner, that money is not going towards the home itself. You can rent for three years and never miss payment, and you will not be any closer to owning the home. Buying your own home builds wealth in the long term through the build up of equity. I never heard of anyone ever creating wealth through renting. However if you must rent, make sure it's only for the short term. During this time you want to wipe away your debt and improve you credit score in combination with putting some money aside every month. This should improve your odds in getting a loan. Also, if in the process of renting the owner gives you an option to buy. Do your homework before making any decision. You don't want to purchase the property without knowing that the property taxes are astronomical. When it comes to getting a loan, stick with a simple 30-year fixed rate. Anything with an ARM(adjustable rate mortgage) should be avoided.

Renovation

There is nothing that can drain your wallet more then doing renovations on your home. If you have an estimate in your mind about how much it would cost to put in that new swimming pool, take that number and double it. The misconception about renovations is sellers think that if you put $20,000 in renovations in your home, that it will add $20,000 in value. This could not be further from the truth. The reason is the renovations you put into the home may satisfy your needs, but may not appeal to the buyer. Putting in that new swimming pool may bring much enjoyment to your family, but the buyer may not even know how to swim! If you decide to do renovations on your home, make sure it is simply for your own personal enjoyment. Don't do renovations based on your motivation to sell. Because different buyers and have different tastes, and you better believe those tastes will not reflect your own.

Have a Great Weekend

I would just like to wish everyone a happy and safe weekend. If you get a chance, please check out "Step Brothers" if your looking for a laugh this weekend. www.fnunezrealestate.com

Fear

President Franklin Delanor Roosevelt once said that the only thing you have to fear is fear itself. These immortal words stand just as true today as they did all those years ago. Fear is a very powerful human emotion. Everyone no matter how strong or bold have this emotion within them. Fear is such a powerful emotion that it can prevent many people from accomplisihing there dreams or there goals. I like to call it fear of failure. Ironically some people even have a fear of success. As powerful an emotion that fear is, it is something that can be controlled. You should not let fear prevent you from doing the things that you want to do in life. Many of the fears that we have is simply our imaginations running amok painting the worst case scenario for any choice we have to make or moment that we live. Do not let your imagination run wild. Do not let fear get the best of you. In this current real estate market, many people are afraid to make any decision when it comes to buying or selling a home. Do not let fear determine your financial decisions. Instead use, reason, common sense, and a good realtor to help you through the storm. If you push fear aside, you can accomplish many more of your goals and live a better life.

You have to lose before you Win

I was reading the newspaper several days ago and I came across an article that caught my attention. The article pointed out that Forbes magazine named Tampa as one of the worst cities in the country for young proffesionals. Not something a college grad wants to hear fresh out of graduation. And with all the negative press coming out of the woodwork regarding the economy, how can one remain upbeat? Having graduated from college not to long ago, I can understand how frustrating it can be to find a job. Even with sending out countless resumes to different employers, it can take months before someone even notices you. But that doesn't mean there aren't any opportunities available for the college grad. What's important is that you find something that you are passionate about and do it well. Eventually the money will come. The problem that many college grads have is that they think once they graduate they are going to get that dream job earning one hundred thousand dollars a year and retire at thirty. You need to be realistic with what your goals are and understand that you are going to have to start at the bottom no matter where you go. But if you love your job then starting at the bottom won't be so bad. And rememeber this, sometimes you have lose before you win.