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.

What a Movie!

Like many of you, I saw the new Batman movie over the weekend, and again like most of you, I was blown away the by film. Even for a two and a half hour film the story seemed to flow smoothly leaving you at the edge of your seat. The performance by the late Heath Ledger playing the Joker was probably one of the best acting performances I have ever seen. I'm sure many of you are wondering what this has to do with Real Estate? Nothing at all, but I thought it would be right talk about the film considering it's apart of pop culture.

Money under the Bed

One day I was at work at one of the many retail jobs I had while I was in college. It was just me and my boss that was working that night. It was slow so my boss and I started shooting the breeze about a number of different topics, one of them being finance. I started to get into the conversation being a finance major and all. My boss starting talking about her distrust of banks and that she put money from every paycheck she had in a box under her bed. You can start to see where the conversation was headed. The crazy thing is there are alot more people like her then you might think. Maybe they don't stuff there money in some box under there bed, but many Americans don't invest any of there money. Let's get back to the money under the bed thing. Let's say my old boss forgot all about that box. It's been five years. One day she is cleaning to find that box. She get's all excited thinking she hit the jackpot. She finds there is $500. Not to bad. But here's a question? Do you think that money is worth more then it was five years earlier? I rest my case. Because of something called "inflation" those $500 are worth less then what they were five years ago giving her less purchasing power. But if that money was put in some sort of investment i.e. CD's, stocks, bonds, then that money would have kept up with inflation. Investing your money can go a long away, especially if your looking to purchase a home. So next time you get that paycheck, put some of it in an investment and not in some old shoebox.

Key to a profitable Business

Since the real estate market has shifted to a buyers market and with the current economic environment, many real estate agents have decided to leave the industry. In the Tampa Bay area, the number of real estate agents fell from 9,000 to just 4,000 agents. That is a huge drop! Why did this happen? The reason is simple, the lack prospecting. The agents who left relied just on marketing thinking that clients were magically going to knock on there door. Sadly those days are gone and agents need to go out and get there buisiness by prospecting every single day. It can be from making cold calls to for sale by owners and expireds to contacting previous clients. These habits can bring in business even in a changed market. Marketing simply reinforces prospecting, relying just on one strategy won't bring in the business needed to be profitable.

Need a New Career ?

I can remember the day that I graduated from college. It was one of the most exciting days of my life. I thought that I was going to rule the world with my Finance degree only to find out that I couldn't find a job for the life of me. I applied to almost every business related job you can think of without any luck. Needless to say I became frustrated with the lack of progress I was making. It wasn't until I was at a job interview that I came to a realization. I was in the waiting room waiting to be called. Along side me was a much older gentlmen who was sporting a Sears suit that looked older then me. I could tell he was just as nervous as I was. He was clutching his resume like as if his life depended on it. It was at that point that I realized I didn't want to be in my fifties still trying to find a job and barely making it in life. One day my sister told me about a real estate office that opened up in her building called Keller Williams Realty. I decided to stop by and see what they were about. After only an hour I realized what I wanted to do. I wanted to be a real estate agent with Keller Williams. The experience since joining with Keller Williams has been amazing. As a real estate agent, you need constant training in order to survive in this business, and I constantly get it with the University style setting at Keller Williams that offers classroom training everyday on a variety of topics from short sales to price reductions. Being a real estate agent can give you the financial freedom to live the life that you want on your own terms, and this is all possible with Keller Williams at Tampa Central.

Bad Debt

How many of you reading this are in credit card debt, just raise your hands. Good God that's alot of you! Well like many across the country many Americans are in some form of debt. The culprit for this debt is that shiny plastic thing in our wallet or purse called American Express that seems to always get us into trouble when we see something we want. Why is it that we seem to just keep spending without thinking of the consequences? The reason is because we our a generation of instant gratification. We need to have things right now even if we can't afford it. This is a good way to explain the large number of foreclosures and bad loans that are hurting the real estate market. Consumers tried to purchase homes they could not afford and banks caved in by giving out sub prime loans to buyers that should not have even gotten loans in the first place. There is plenty of blame to go around, but it's important that we learn a valuable lesson from this. That we need to think rationally about our financial decisions. When buying a home, have realistic expectations about what you can afford while also focusing on what's important to you in a new home. Better yet, if you can't afford a home then just wait tell you can! If you are in debt, make sure you make paying off your debt a number one priority before making a large purchase like buying a home. If Americans try to be rational about there expenditures instead of giving into there retail desires, then our economy will be better off. If you have any questions please contact me through my website at www.fnunezrealestate.com

A Need for an Agent

Last night I was driving home in a terrential down pour. I mean I could barely see the road in front of me. The street light at several intersections went out making my trip home all the more dangerous. The experience I went through is similar to someone jumping into the real estate market without an agent. When it comes to selling your home, having an agent represent you is essential. Between the marketing and a paperwork involved, it can be exhausting, especially when you work a full time job. Having an agent list your home not only makes your life easier, but having an agent with increase the chances of havving your home sold. When there are eighteen homes for every one buyer. A seller needs all the help they can get. If you have any questions please go to my website at www.fnunezrealestate.com.

Every Penny Counts

In a recent national study, the average savings rate for most Americans was zero percent. Let me say that again, zero percent. That means that Americans don't save. This is a pretty disturbing statistic but it explains the current economic woes plaguing the country right now. As Americans, we need to make a stronger effort in putting money aside for the future. A good rule of thumb is to put away about ten to fifteen percent of your paycheck away either in a high yield savings account as well as other investments like an IRA etc. If you have debt, it's important that you pay that off first before you even start to invest, but you should still at least put something aside no matter how much debt your in. By doing these simple tasks, you should be able to improve your financial health.

Pricing is Everything

Trying to sell a home can be difficult, especially in this market. But it really doesn't have to be. You really just need to keep it simple. If there is any one thing that you want to focus on in selling your home is the price. Pricing is everything no matter if it's a buyer or sellers market. If your home is priced correctly, then the home should sell within a reasonable amount of time. What do you mean when you say priced correctly you ask? We'll I'll tell you. Being priced right means it needs to be below market value or underpriced. The reason why is because for every eighteen homes that are for sale, there is one buyer. That's alot of competition. I know this must be hard for many of you because if you bought your home during the so called, "real estate boom," then you will most likely not get what you paid for. As I've said in my previous articles, cost does not equal value. If you keep that in mind when you are trying to sell your home. Then will begin to have a better grasp of how the real estate market works. If you have any more questions please visit my website at www.fnunezrealestate.com .

Morning Brew

When I wake up in the morning I usually follow a typical routine. Take a shower, shave, brush my teeth, change, then go and make my morning Juan Valdez. After that I flip on the business news to get my daily dose of panic from the business pundits telling me that the New York Stock exchange is going to get defecated on by the bald one that runs the Federal Reserve. Of course lets not get forget that Fannie Mae and Freddie Mac are going down the tubes. I heard Fannie was a sweat heart but Freddie was a vivacious a*&hole. Back to my morning routine. After I throw my remote control at my TV in an attempt to shut it off permanently,I hop on my donkey and head to work while my car gathers dust on the drive way since a gallon of gas costs more then a five dollar sandwich a subway. Thanks alot Jared!. Now I hope by now you have picked up my attempt at being sarcastic. But there is a larger point that I am trying to get across and that is things are not as bad as they seem. How do I know that you ask? Well I'll tell you. When I still see people go in droves to Starbucks to pay six bucks for a cup of coffee made of soy milk and caramel made by some guy who believes the world would be a better place if everyone ate beans and wore extremely tight pants that would make the Ramones proud. I just have a feeling that things will be ok. By the way, if you have any questions or you know anyone who is interested in by or selling a home, please feel free to go to my website at http://www.fnunezrealestate.com/.

P.S.

I just want to say that I am actually really proud of Jared. Keep losing weight by eating sandwiches made of grade z meat buddy! Go get em!. Also is Valdez spelled with a z or an s. Hmmmmmm???

Surf the Web for your Dream Home

I don't know about you but I absolutely love the internet. I can't get enough of it. I couldn't imagine my life without. I'm sure many of you who are reading this feel the same way. Our lives revolve around the internet because it makes our lives easier. So with that being the case, why can't the internet make our home search easier as well. With the explosion in technology one can can go online and with a couple clicks of a mouse can search for hundreds of homes listed in a given area. Not only can you search for homes, you can even find out the value of your current home by doing a free market analysis online which only takes a couple of minutes. How easy is that! Sadly however, many agents still don't utilize this technology. In fact many don't even have websites! This is certainly not the agent you want to represent you in the digital age. If you have any questions please go to my website at www.fnunezrealestate.com where you can perform your own free market analysis and search for listings in the Tampa Bay area.

It's Never a Down Market

If you have been watching the news or reading the paper, odds are you have come across an article talking about how the real estate market has gone down the tubes. Plus with high gas prices and a turbulent stock market it's hard not to get discouraged. But the truth is that the real estate market is not the horrible market that the media is depicting. The fact of the matter is that this is probably one of the best times to buy a home. With the prices of homes dropping to record lows. Buyers who have great credit and much liquidity are very powerful people in this market, considering the number of homes available to purchase. As a realtor I come across alot of sellers who complain about the "down market" since they aren't getting what they paid for there home. What most buyers and sellers don't realize is that cost has nothing to do with value. Zip, nada, nothing! A perfect example would be if someone inherited a home. That person didn't have any costs since he/she inherited the property. However if he wants to turn around and sell the home, he would want to find out its value. See what I mean. What you pay for the house isn't necessarily what its worth. It's what the buyer is willing to pay for the home. With that being said, if you have any questions on the market please feel free to log onto my website at http://www.fnunezrealestate.com/