Bradenton Real Estate Podcast with Marcus Vanzant

6 Summer Maintenance Tips to Follow Before You List

Marcus@SoldByMarcus.com (Marcus Vanzant) — Wed, 11 Jul 2018 13:04:00 -0700

Which six home maintenance items should all homeowners take on this summer? Today we’ll go over this crucial list.

Staying on top of home maintenance is very important, especially if you plan on selling.

Today I’d like to go over six key maintenance tips that are specific to the summer months. Following these tips will make sure your home stays safe and in great shape.

Check your smoke detectors and change their batteries. Keeping your smoke detectors in working order is crucial, so be sure to test and replace their batteries regularly. If you don’t want to be woken up in the middle of the night by a dying alarm, or find yourself faced with a far more serious situation, you must stay on top of this critical maintenance task.
Have your air conditioning inspected. Our A/C units are most active during the summer, so this time of year is an especially important time for these systems to be functioning at maximum efficiency.
Get your grill serviced. Our climate tends to cause grills to rust, so having your grill serviced can be a worthwhile investment.
Maintain your windows. Checking for wood rot, cleaning your screens, and wiping down the glass are all important maintenance tasks.
Make any necessary repairs to your deck. Things like changing out loose boards, replacing screws, and adding a new finish will keep your deck safe and looking great.
Check your faucets. With as much water as people use in the summer months, it’s essential for homeowners to keep their propertys’ faucets and plumbing in working order.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How Will the Fed's Recent Decision Influence the Market?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 31 Oct 2017 12:56:00 -0700

The Fed’s recent decision is going to have a big impact on our economy and real estate market. Here is everything you need to know.

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The Fed just announced a move that will have a big impact on sellers and buyers.

At the recent meeting on September 20th, the Fed decided to cut back their balance sheet. While this might sound boring compared to the usual news of Fed rate hikes, it’s actually a big deal.

The financial crisis we saw a decade ago caused the Fed to take emergency measures. So, they injected a huge amount of money into the economy by buying up various financial assets in an enormous sum.

These financial assets amounted to a sum of about 25% of the United States economy at that time. But now, the economy has recovered to the point where the Fed feels comfortable taking some of this money back.

As you can imagine, this is going to have a huge impact on our economy and real estate market. This change is going to put upward pressure on consumer borrowing costs such as mortgage rates.

This change is going to put upward pressure on consumer borrowing costs such as mortgage rates.

In other words, if you are thinking of buying a home you should know that the Fed’s most recent move will eventually make it more expensive to do so.

Also, sellers must be aware that this change could result in fewer interested buyers. This might lead to a decrease in prices, making it harder to sell.

However, this is not an immediate change. The rollback will be gradual, with the Fed taking back just $10 billion per month. Compared to the $4.5 trillion total that was borrowed originally, this is not a significant amount.

While the Fed’s move will not take effect immediately, you should act quickly if you have been thinking of buying or selling. Now is the time to make your move before the process of this change starts to escalate.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

A Few Things to Remember Before the Next Hurricane

Marcus@SoldByMarcus.com (Marcus Vanzant) — Mon, 25 Sep 2017 11:02:00 -0700

As we continue to recover from Hurricane Irma, we’re making sure that next time a storm like this comes along we are prepared.

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We had a close call with Hurricane Irma. Although many of us lost power, we faired pretty well considering the scope of things. However, we realized that after this storm we need to be better prepared. There will be another storm like this someday. Maybe it will be in one year, maybe it will be in 10. Either way, we’ve got to be prepared. Here’s what we’ve got on our list:

1. Storm shutters. If you don’t already have impact windows, you need to get them.

2. Generators. Pick those up now while the lines are short. There are over 50,000 people without power right now, including some of us. A generator can help keep your food and your family cool at the very least.

3. Flood insurance. There are a lot of places where it’s optional, but for just a few hundred bucks it’s a worthwhile investment for anyone near flood zones.

4. A crank radio or solar-powered radio.

It’s time to get rid of any tree that could reach your home.

5. Trees. If you’ve got any kind of tree that can reach your house, it’s time to get rid of it if the storm didn’t do it for you already. These knocked over trees are the reason a lot of people lost power.

We were lucky to avoid the brunt of the damage, but we won’t be taking any chances next time. If you have any questions for us in the meantime or any real estate needs we can help fulfill, give us a call or send us an email. We look forward to hearing from you.

5 Reasons to Stop Renting

Marcus@SoldByMarcus.com (Marcus Vanzant) — Fri, 25 Aug 2017 11:13:00 -0700

Why should you buy instead of rent? Today, I’ve got five key reasons why you should stop renting and start on the path of homeownership instead.

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Why should you buy instead of renting? Even if you think today’s market prices are a little too high, buying is still preferable over renting. There are five key reasons why this is the case.

You can do anything you want with the property. Renting a property makes it a lot more difficult to add personal touches or have much pride of ownership. Painting rooms, putting in flooring, or making other updates you would like are all things you won’t be able to do in a rental property. In a property that you own, however, all of these things and more are possible. When you buy a home instead of renting one, you are not only putting a personal touch into your living space, you’re also adding value.
The appreciation benefit. First-time homebuyers are typically going to be purchasing their home by using the FHA loan, which requires only a 3.5% down payment. Let’s say you’re buying your first home for $200,000. 3.5% of that is actually just $7,000. With that being the case, you’re really only paying $7,000 up front for a $200,000 investment. This works well to your advantage because of the leverage you have in terms of appreciation. You simply don’t get this kind of investment out of renting.
The mortgage stays the same. In even the past few years, rent has risen dramatically. However, if you get into a fixed-rate mortgage, you can be certain that your payment will stay the same. This will make it easier for you to budget on a monthly basis without worrying about uncertainties.
Forced savings. A large portion of your mortgage payment goes toward interest, but some does go towards the actual principal of the mortgage. As you pay down this interest, more money will be able to go towards principal in years to come. A way to help achieve this is by making just one extra payment a month. If we assume your payment is $1,000 a month, paying just an extra $1,000 per year will knock off approximately nine years from your mortgage.
The tax benefits. While this one isn’t as large a benefit as the others, it certainly acts as an added bonus on top of the other, additional factors we’ve discussed.

Now is the time to make the switch from renting to buying.

Prices may be up, but interest rates are down. Now is the time to make the switch from renting to buying.

If you have any other questions or would like more information, feel free to give me a call or send me an email.

3 Ways to Attract Higher Offers From Buyers

Marcus@SoldByMarcus.com (Marcus Vanzant) — Thu, 3 Aug 2017 14:10:00 -0700

There are certain things that all buyers want to see in a home. Here are three of them.

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Home sellers have a lot more control over the home buying process than they think. There are certain things buyers typically want in a home which the sellers have control over. Here are three things that most of today’s buyers want:

1. Curb appeal. They want to be able to pull into the driveway with a sense of pride, and they want the first impressions of others to be the same. Good landscaping and groundskeeping are important. Planting grass right now is a good idea if you have any bare spots. It’s been raining so much you probably won’t have to water a lot.

2. Space. We have very few people who are looking for a smaller home. Most buyers, especially move-up buyers, are looking for extra space. Therefore, we need to maximize the space you already have. We do this by getting rid of all the knick knacks and extra furniture.

Very few people are looking for a smaller home.

3. Updates. This is probably the No.1 thing buyers are looking for. They aren’t necessarily looking for a brand-new home, but they are looking for pride of ownership. If you’ve updated the home consistently over the years, it will stand out in the buyer’s mind. Fixtures, counters, and flooring are all things you can replace that won’t break the bank, but will increase your final sale price.

If you have any questions for me about what else buyers in this market are looking for or if you’re interested in buying or selling a home, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

How to Sell Your Home as a Pet Owner

Marcus@SoldByMarcus.com (Marcus Vanzant) — Wed, 19 Jul 2017 11:56:00 -0700

There are a few things you need to do to best prepare a pet-occupied home for sale.

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A large number of homebuyers won't purchase a home unless it's a good fit for a pet. However, if you are selling a home and you have a pet of your own, it does still take a little extra care and effort to sell your home.

After all, pets are highly personal things. You may love your own pet, but the odor and damage they can cause to your home may be off-putting to someone else.

We love our pets, but the odor and damage they cause might be off-putting to someone else.

When selling a home, it’s important to remember just that. Many Realtors will agree that the presence of a pet can cause a deal to fall through.

Thankfully, I’ve got three easy steps that can help prepare your pet-occupied home for sale.

Repair any damage caused by the pet. Things like scratched up carpet, tarnished floors, and yard damage can all lower a home’s appeal to buyers. By going through your property and taking care of these issues, you’ll be making a great improvement to its chance of selling. Any costs associated with the repairs will be made up in the returns you’ll get from having made them.
Eliminate pet odors. It’s easy to become desensitized to the smell of our own pets, but buyers won’t be. Consider hiring a professional to lift the scent out of carpets, rugs, furniture, and anything else that could be harboring foul odors. After that, bring in a trusted person to give you their completely honest opinion about whether or not the smell has persisted.
Remove the pet and all traces of it during showings. Having a pet or evidence of one can be a deterrent for some buyers. Some buyers may not be a fan of pets in general, and some could even be allergic. So, while it is hard to imagine someone not loving your pet as much as you do, what ultimately matters is getting your home sold.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Has Real Estate Gone Global?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Thu, 29 Jun 2017 08:07:00 -0700

In days past, real estate was a local business. However, with today’s resources and technology this has changed.

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Is real estate still a local business?

This question first occurred to me because of this great new listing I have in St. Pete. As many of you know, my office is primarily based out of Bradenton, but was brought to this listing for a number of different reasons. This got me thinking about that question I mentioned earlier.

In certain ways, real estate is still a local business. If you’re trying to buy a property, oftentimes you’ll want to go with a local agent who knows the area. But with today’s resources and technology, including the Internet, people can now look up the information that agents used to have to find. Things like the state of local schools, crime rates, and other aspects, are all within your reach.

When my own father was a broker back in the 70s and 80s, Realtors acted as gatekeepers for that sort of information. However, this is no longer the case.

This is why, personally, I don’t believe that selling a property is really a local business anymore. For example, my team recently had great success when a listing sold in just three hours to a couple living in Germany.

3-D videos and photography, as well as virtual walkthroughs like the one below, make it so that even buyers as far away as Germany are able to get a complete view of a property.

You may even have done online shopping yourself when it comes to searching for a home. Many websites, including our own, can help you do just that. That being said, when it comes to selling, professional teams like mine are more like marketing firms that happen to sell property. And getting your home shown to as many people as possible means going beyond local.

The client’s first agent, who had been a neighbor of theirs, simply wasn’t successful.

To illustrate this I’ve visited the property in St. Pete that first got me thinking about today’s question. Frankly, I’m not the first agent on this property. I’m the second agent, after the client’s first agent, who had been a neighbor of theirs, simply wasn’t successful.

The agent likely had too much investment in the property, because who moved in would directly impact their personal life. They were aware that whoever moved in would become their neighbor. Contrary to what many might expect, this agent’s local attachment prevented them from being successful with this property.

While it has a fabulous view of it, the property is not actually on the bay. This is great because it means that storms, winds, and tides won’t be an issue for the home’s deck. In addition, the home is over 4,000 square feet with five bedrooms and five bathrooms.

To take a look at this amazing property check out the 3-D tour here or view below so you can see for yourself that real estate is no longer necessarily a local business. It’s got global reach, meaning that it’s more important to hire a marketing team that can present a property well as opposed to hiring one just because it’s local.

If you’re interested in this property, want any more information, or have any other questions, feel free to give us a call or send us an email. We look forward to talking to you soon.

Should You Consider Building a New Home or Remodeling One?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 30 May 2017 08:11:00 -0700

When you can’t find your dream home on the market, you have two options: find a remodel property, or launch a new construction project.

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Today I’m standing on the banks of the Manatee River. Behind me, there is a new construction project going on. I sold that property last year, and this project has got me wondering, “Should you consider building or a remodel if you can’t find the home of your dreams?

There are a lot of existing homes out there that just aren’t the right fit for buyers. If you haven’t been able to find the right home, there are a few things to consider before deciding on a new construction home or a remodel:

Which process would you enjoy the most: building a new home or remodeling one?

1. The buying process. If you decide to build your own home, that transaction involves a construction loan, which can take some time. On the other hand, you could buy an existing home and pay as you go while you remodel. Sometimes, that’s just a better fit financially.

2. Time. Can you wait around for a new build? I sold the property in the video over a year ago, and you can see that they still have some work to do. Sometimes, you just don’t have the time to wait for a new construction project.

3. Floor plan. Can you find the type of floor plan that you are looking for in a remodel project? Sometimes, you just can’t move that wall or create that open concept you’re hoping for. When I sold the property in the video, the buyers could not find what they wanted and decided that they had a perfect home in mind; they just needed to put it on the perfect lot.

4. Location. There are a lot of empty lots available to build a new home on, but you need to find a lot where you want to live. If you are set on a certain location, can you find a remodel property in that area?

5. Fun. What do you enjoy doing? Do you have fun building a new home, or are you an HGTV nut who loves the remodel process?

Whether you are looking for a remodel or a new construction project, I would love to help you. Just give me a call or send me an email if you have any questions!

A Smart Way to Minimize Your Child’s Clutter While Selling

Marcus@SoldByMarcus.com (Marcus Vanzant) — Thu, 16 Mar 2017 14:08:00 -0700

Selling a home with kids can be difficult. Here’s a quick tip to make things a bit easier for everyone.

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One of the most stressful parts of selling your home can be getting your kids prepared. Having kids of my own, I know the struggle of trying to keep all of their things tidy when a showing could happen in a moment’s notice.

Decluttering your child’s room or play area can be hard, especially when they are young. It’s not until you start putting their toys away into storage that they mention the toy they haven’t played with in a year is their “favorite.”

Give them the choice to keep the things they really want.

Here’s what I suggest you do. Give them the choice to keep the things they want. Get a big storage bin, but not too big that it doesn’t fit under your child’s bed. Tell them that they can keep the box full as long as you are in the house. If it fits in there, it stays until you move. Anything that doesn’t fit in the box, however, has to be put away until you can unpack in your new home.

Every time you have a showing, all you or your child needs to focus on is making sure the box gets filled back up and put underneath the bed. This really simplifies the decluttering process and still allows for your kids to have their favorite toys on hand. The clients of mine who have followed this advice have had significantly less stress during their home sale than those who haven’t.

If you have any questions for me or you’re thinking about selling your home, give me a call or send me an email. I’d be happy to help out in any way possible.

Don’t Believe This Myth About the 2017 Market

Marcus@SoldByMarcus.com (Marcus Vanzant) — Wed, 1 Mar 2017 14:37:00 -0800

Since the number of home sales dropped significantly from December to January, should you be worried about the 2017 real estate market?

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There is a myth out there about the 2017 market that has incited some unnecessary panic in our area.

Recently, an article came out of Orlando stating that from December of 2016 to January 2017, there was a 25% decline in home sales. This article went on to say that the entire market is declining and that this is the beginning of the end.

Don’t worry, though— there’s nothing to panic about. That decrease in single-family home sales is a normal trend in our market. For example:

From December 2014 to January 2015, sales dropped by 26%
From December 2015 to January 2016, sales dropped by 28%
From December 2016 to January 2017, sales dropped by 28%

The number of sales drops every year from December to January and soon, we will see an increase in inventory.

Every year, the number of home sales drops from December to January.

Ultimately, the month-to-month number of sales is not a reliable indicator of how our market is doing. You are not comparing apples to apples.

However, if you look at the yearly numbers, you’ll see that from January 2015 to January 2017, the number of home sales went down by 13.5%. The market is declining by about 7.5% each year, so that is the more concerning issue.

Our market has been in a strong seller’s market, though, so this slowdown is more of a leveling off. Our market has had three to four months of inventory and we’re starting to see five to six months of inventory. The market is not going to implode in 2017; we will simply see more of a balanced market than we have the last couple of years.

Going forward, 2017 will be a great, prosperous year. If you have any other questions about our current market or about real estate in general, give me a call or send me an email. I would be happy to help you!

What Will the Bradenton Market Look Like in 2017?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Wed, 4 Jan 2017 11:17:00 -0800

Today I’m giving you a quick look at what the real estate market will bring for Bradenton in 2017.

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Now that 2016 has ended, I wanted to give you my predictions for what the real estate market will look like in 2017 in Bradenton.

At the end of last year’s quarter, the Fed met and raised the interest rate a quarter of a percent, and they are expected to raise rates at least three more times in 2017. If they continue to raise the rate by a quarter of a percent each time, the rate will increase by a full point.

I think 2017 will still boast a strong market, but it’s important to keep in mind that every 1% increase in interest rates eliminates 11% of buyers from your potential buyer pool. This could cause prices in home sales to drop.

2017 will end with a buyer’s market, so get your home listed now.

We should also see a stabilization of the market in all areas, including all price points, types of homes, and types of locations. Instead of ending the year with a seller’s market like we did in 2016, the end of 2017 should bring about a buyer’s market. So, if you are thinking about selling your home, now is the perfect time to get it on the market.

I hope you have a great new year, and if you have any questions, feel free to give me a call or send me an email. I look forward to hearing from you!

The Future Is Now in Home Searching

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 6 Dec 2016 13:13:00 -0800

We have a special home tour we want to show you today. Get ready to go 3-D.

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Today we’re doing a virtual tour on one of our new construction properties in West Bradenton with a new technology called Matterport. Matterport is a specialized 3-D camera that allows you to do virtual tours or walkthroughs of properties prior to actually seeing them in person.

We feel strongly that it’s our duty to provide a better service than our competitors. That’s why we have invested heavily in this technology—so we can bring it to more of our clients than other Realtors.

For our customers’ sake, we’ve invested heavily in this technology.

In the video above, you can see what the camera looks like. To see the virtual tour of this wonderful new property and immerse yourself in it, click here.

Needless to say, this technology is a godsend for our international or out-of-state clients looking to buy a home in our Sarasota/Bradenton market. In fact, we recently got an offer on a house just three hours after it was listed from a couple all the way in Germany!

If you have any questions about how this technology can help you, whether you’re a buyer or seller, don’t hesitate to call us, email us, or visit our website. We look forward to hearing from you!

6 Things Buyers Should Never Say During a Home Tour

Marcus@SoldByMarcus.com (Marcus Vanzant) — Mon, 21 Nov 2016 12:59:00 -0800

More and more listing agents are attending home showings these days. As a buyer, there are six things you should never say during showings if you want to get the house.

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One mistake all of us make during open houses or home showings is talking too much. You need to look at the home buying process as a poker game; you don’t want to show all of your cards. Many listing agents offer accompanied showings, which means the listing agent is present during an open house or showing. So, while you’re looking at a house, here are six things you should never say:

1. I love it! Again, do not show them all of your cards. You may say “I love it,” but they hear, “I’m going to pay more than the asking price to get this home.”

‘I love it’ means you will pay more than asking price.

2. That is hideous! Whether it’s a piece of furniture, a picture, or wallpaper, don’t express your negative opinions about the seller’s decor. The seller will hear your feedback and they may be so offended that they decide not to negotiate with you. Don’t worry if you don’t like their velour couch from 1980. The couch is not going to be left in the home, and even if it is, you can always put it out on the curb.

3. The house is overpriced. If you say the house is overpriced but then you make an offer, who holds the cards in that situation? The seller. If you make an offer, they know that you love the home, and they will negotiate your price up.

4. Why are the sellers moving? Don’t worry about asking the listing agent why the sellers are moving. Let us negotiate that with the listing agent later. If you ask that question, you are putting yourself in a poor position to negotiate.

5. How are the neighbors? We can do that background work on our own. If you ask the listing agent, they will just tell you what you want to hear, not what you need to hear.

6. Will the seller take X amount? Again, don’t throw your cards on the table. Walk away and leave a neutral impression behind. Then, we can see what we think the home is worth in the market and strategize about what kind of offer we can make later.

Overall, the important thing to remember is to not reveal your hand. Play your cards wisely when walking through an open house or going to a home showing. Talk to your agent after the fact to figure out the best strategy to purchase the home.

If you have any other questions about buying a home or about the real estate market in general, give us a call or send us an email. We would be happy to help you!

Don't Buy the Boat, Buy a Duplex

Marcus@SoldByMarcus.com (Marcus Vanzant) — Thu, 3 Nov 2016 10:58:00 -0700

Should you buy a boat or invest in a duplex? Here’s how you can do both and still have enough money to finance your lifestyle.

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We all know that the Sun Coast area is a great boating community, but before you go out and buy a boat, I’d like to ask you one question: have you considered investing in a duplex instead?

This may sound like a strange comparison, especially when you see all of the pictures of your friends and family on Facebook showing off their updated boats and boat accessories, but let’s break the cost of a boat down.

Believe it or not, the average cost of a nice boat is probably close to $50,000. If you have $50,000 cash to buy a boat, that’s great! You can slap that $50,000 down and sail away with no payments or taxes, right? Wrong. This is the worst thing you can possibly do in my estimation.

What if you took that same $50,000 and put it toward a $150,000 duplex? There are duplexes in our area available for this exact price. If you were to do this, you would have a $100,000 mortgage. At 4.5% or 5% interest, plus taxes and homeowners insurance, your monthly payment would be about $800 on that duplex.

Why does it make more sense to pay $800 a month for a duplex than it does to buy a boat straight up? Rental rates right now are about $800 to $850 anywhere in town. If you were to rent out both units of that duplex, that property would be bringing in $1,700 every month with only an $800 payment on your end. That’s $900 of income in your pocket each month!

Owning a duplex can net you an extra $900 each month!

Let’s revisit the boat scenario. If, instead of buying the boat in cash, you were to finance the boat at the going interest rate of about 4.5% with a 20-year payment plan, your boat payment would be about $350 per month. If you financed the boat at the same time you rented out the duplex, you could potentially use that extra $900 per month to make your $350 boat payment and still have $550 left over each month. Now you own a boat and a duplex!

Think about other things that your duplex income would allow you to afford: college, a new car, land, or maybe a second home? Which other investments can you think of that would generate you this kind of income while allowing you a tax write-off at the end of the year?

Investment properties can not only pay for your new toys, but will set you up to be in good financial standing in the future.

If you think that investing in a duplex is a great idea too, or you have any other questions about buying or selling real estate in our area, give me a call or send me an email anytime. I’d be happy to point you in the right direction!

Should You Be Buying or Selling in Bradenton?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Fri, 19 Aug 2016 12:56:00 -0700

Is it a buyer’s market or a seller’s market in the Bradenton area? The answer is both.

Overall, when you look at the larger numbers, the inventory levels are favoring buyers. In breaking down each individual house in each individual neighborhood, however, the market is favoring sellers.

If you’re in the lower price point (under $350,000) anywhere in the Manatee-Sarasota area, for instance, you’re very much going to be in a seller’s market. If your home is priced effectively and accordingly, it will sell very quickly. If you’re in a higher price point ($500,000 to $700,000) anywhere in Northwest Bradenton, you’re looking at about nine to 12 months of inventory, which makes it a buyer’s market.

Is it a buyer’s or seller’s market? The answer is both.

Whether you’re buying or selling, it’s important that you look at your price point and your neighborhood to find out which market applies to you. If you’re a seller, you need to do the updates and upgrades and price effectively and accordingly. If you’re a buyer, you need to do your homework regarding inventory. The good news for buyers is that there is more inventory coming up, so you will have more choices and more opportunities to make a better deal.

With that being said, the market is slowly starting to favor buyers. Houses will still sell, but you have to provide the best value if you want yours sold in a timely manner. If you have any other questions about our real estate market, give us a call or send us an email. We look forward to hearing from you!

What Should You Expect From Your Home Inspection?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Thu, 4 Aug 2016 11:33:00 -0700

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I think it is important to have a home inspection on every single property you buy. If you’ve bought or sold homes in the past, you’re probably wavering on the necessity of a home inspection, but you need to know as much information about the home as you can.

There are several types of home inspections, but the one you want to start with is the general overall home inspection. Expect the general inspection to last from two to four hours. You don’t necessarily need to be there for the whole process, but it is important that you show up sometime near the end. The inspector is going to take photos and notes on anything they find along the way so that they can go through the information with you point-by-point and advise you on how to resolve any problems. Houses are built with time, money, and effort, and keeping up with repairs is no different.

Let’s say the inspection does bring an unexpected issue to light. What we would do in that case is approach the seller and, depending on what kind of contract you’ve agreed to, negotiate with them on how to fix it. This is why it’s very important to have an expert Realtor handling the process. Along the way, you want to feel comfortable that you’re getting a good deal.

“

You want to feel comfortable that
you’re getting a good deal.

”

A home inspection isn’t 100% failsafe. It’s possible that the AC unit will wait to go haywire until after you buy the home. What I recommend, then, is that you buy a home warranty after the inspection to protect yourself against any major setbacks. You always have the option of extending it past that time period.

If you have any questions, please feel free to give us a call or shoot us an email. If you’re looking to buy or sell a home, then we would love to help. Have a great day.

Is Seller Financing Right for You?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 28 Jun 2016 11:10:00 -0700

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Just the other day I had to assist a seller with some seller financing. It’s not all that common, and that’s why I think it’s important for you to know about. Seller financing can be a useful tool because it allows sellers to move a home faster and get a sizable return on the investment. Buyers may benefit from less stringent qualifying and down payment requirements, more flexible rates, and better loan terms on a home that otherwise might be out of reach.

Before I begin, I’d like to preface this information by telling you that you’ll likely need a lawyer if you wish to obtain seller financing. This is not something that I can do, and it’s not something you want to do on your own.

From a seller’s perspective, you need the buyer to put enough money down to protect yourself. You don’t want 100% financing, but you do need enough skin in the game so that the buyer doesn’t walk away. If the buyer does walk away and you have to foreclose, then you do have some reserves to fix the property if you need to. Most of the time you’ll be looking at 30% to 60% down.

One caveat to this strategy is that you cannot have a mortgage and do seller financing. However, if you agree to a 6% rate on a $200,000 home, you would end up pocketing roughly $12,000 per year. That’s nothing to shake your head at.

“

You’ll need the help of an
attorney to pursue owner financing.

”

But on the flip side, how should buyers walk into a situation like this? You should prepare to put a very sizable down payment on the home. Sellers are put in an awkward position if you cannot put at least 20% to 50% down. Using owner financing also narrows the amount of homes you can look to purchase, because you’ll need a home without a mortgage on it.

If you’re looking to do down this route, please don’t hesitate to contact me. You’ll need the help of a professional.

I look forward to hearing from you!

The Luxury Home Market in Manatee County

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 7 Jun 2016 09:30:00 -0700

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I’ve been seeing an increasing number of luxury properties come on the market and not sell as fast or for as much money as sellers had hoped for. In fact, in the past six months, only 28 properties have sold in Manatee County over $2 million. Nearly 23 out of those 28 properties were in Longboat Key.

In our area, anything from $750,000 on up is considered a luxury property. I’ve been seeing a lot of homes ask for luxury prices, but I’ve seen few actually get them.

Here’s a quick breakdown of the surrounding area. Lakewood Ranch has the highest concentration of luxury homes, with 60 sold properties over $750,000. Holmes Beach and Anna Maria Island also combined for 60 sold luxury properties. Longboat Key had 33, but the rest of the surrounding zip codes had less than 10 a piece.

There are about 248 luxury properties in the surrounding areas, but most of them are concentrated in a few different areas.

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Your luxury property should
match the luxury price.

”

When buying or selling luxury property, keep in mind that you’re not always going to get the price you expect right off the bat. You’ve got to do your due diligence, especially when selling, to make sure you have a luxury product to fetch that luxury price. People want high ceilings, new appliances, and more.

If you have any questions about our luxury market or if you’re looking to buy or sell in the area, give us a call or send us an email. We look forward to hearing from you!

What’s the Secret to a Successful Buying Process?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Mon, 9 May 2016 08:46:00 -0700

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It’s really an awkward feeling to go into someone’s home and look around while they’re not there. It almost feels like breaking and entering! However, it’s even more awkward to buy a house without doing your due diligence and finding out afterwards that there are some aspects about the house that you don’t like or that something is wrong with it! Don't let this happen to you!

Take time in the bathroom. It’s the hardest room to go into, but it’s one of the most important rooms you're going to have after you buy the house. Flush the toilet and make sure there are no plumbing problems, and try out the shower and sink as well.
Dig through the closets. I’m not saying you need to go check out all their stuff and all their things. The purpose of it is to see if the house has enough storage for you. The idea is to actually do an inventory of your personal items and check the house to ensure it has enough storage for you.
Poke around the attic. Disclaimer: Don’t just go poking around someone’s attic - it’s dangerous! However, there are a lot of indicators in an attic that will give you a good idea of the condition of the home. Have your inspector check the attic for termite damage, rodents, and water damage.
Be an amateur investigator. If something seems fishy, it just might be. Make sure to ask a bunch of questions before buying. For instance, go to the county building or city hall to ask whether there was an addition made to house and whether the proper permits were pulled. Once you buy the house, any shady things the previous owners might have done become your problem. A lot of these things you have to do yourself if you want to protect yourself against trouble down the road.
Meet the neighbors. They have no vested interest in the property you’re interested in, and some of the best information I’ve ever found out about a house in a neighborhood is from the neighbors. If you get in a conversation with them, they’ll likely start rattling off some useful information about the home, whether good or bad. Either way, you’ll probably find some good information from people who live in the area.
Ask questions. If it’s there and you don’t know why, just ask! You’re never going to get an answer to anything you don’t ask a question about.

If you’re uncomfortable doing these things, or if you want our help snooping around an interesting property, please don’t hesitate to ask! We pride ourselves on making the buying and selling process as easy as possible for our clients, and we would love to hear from you!

Why are Home Warranties so Important?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Fri, 22 Apr 2016 09:23:00 -0700

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Today, I want to talk about the importance of a home warranty.

Home warranties are protection. There are so many things that can go wrong on a home you’re unfamiliar with. Even after you have already bought a property, there are so many things that can go wrong from appliances, plumbing, and so much more.

Although an inspection can identify many problems, it will only address issues at that particular time. It doesn’t mean that things in good condition aren’t prone to failing later on. Ultimately, you don’t end up with the truth and that’s the way it works. For example, a seller can replace or fix something, but it might not have actually solved the problem.

That’s why home warranties are so important when negotiating in a transaction. Buyers should demand one, and sellers should offer one. Products eventually break and fail, so you can’t guarantee things like the air conditioner unit will last forever. This is an effective way to offset any concerns a buyer or seller might have.

If you’re thinking about buying or selling a home in the Sun Coast area, give me a call or send me an email! I’d be happy to answer any questions you have about home warranties or more.

How Do You Get the Best Deal in Sun Coast Real Estate?

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 29 Mar 2016 10:20:00 -0700

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Today, I’ll go over the number one step for the best real estate negotiation. This might seem obvious, but you need to hire a proven real estate agent. When I say proven, I mean experienced. Experience doesn’t necessarily have anything to do with how long someone has been in the real estate industry. Experience is directly related to how many transactions an agent has done.

The average agent only sells 6 to 8 properties per year. That means they are only doing one deal every two months. I don’t know anybody who can be an expert at anything they only do once every 2 months.

As you might know from some of our previous videos, my team has been doing some recruiting. Some of the newer agents from bigger companies that we’ve talked to say that they’re being trained in time management or organizational skills, but not on how to put together a winning offer. Inventory is tight in our area right now, and it’s not so easy to get a buyer into a property. The ability to put together a winning offer is crucial, and these agents don’t know how to do it.

Another thing you should keep in mind is that 87% of all real estate agents fail in the first five years. That means only 13% of new agents will be successful. If you’re hiring an agent from one of these big companies, how do you know that you’re not getting one of these agents who won’t be able to get the best deal for you? How do you know you’re not getting an agent who is struggling and will quit in the next couple years?

You need to Google real estate agents before hiring them. Find their Zillow or Trulia reviews. Past customer experiences will show you how experienced these agents are. You will also want to know what their list-to-sales price ratio is. As a buyer, you want this number to be lower, because the agent will be able to negotiate the price down. As a seller, you want it to be higher so that you will net more money.

Don’t let this discourage you into selling your home yourself. For Sale By Owner properties sell for 15% less than properties that sell with an agent. You might think you’re saving money by avoiding the commission, but you will actually lose more money. If you're a buyer, don’t just call the listing agent. The listing agent is there to protect the seller’s interest.

Whether you’re buying or selling, you need a proven agent on your side. If you have any questions, give me a call or send me an email. I would be happy to help you!

The Secret to Getting Top Dollar for Your Rental Property

Marcus@SoldByMarcus.com (Marcus Vanzant) — Mon, 14 Mar 2016 10:56:00 -0700

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I sell a lot of rental property for a lot of investors, and a lot of these investors are people who didn't initially want to be investors -- they either got stuck with a home they ended renting out or they inherited a property and don't necessarily want to have a tenant.

If you have a single-family rental property that you've had for some time and are ready to get rid of, we have some advice. If you're looking to sell your single-family rental, there is no motivation for the tenant to help get the home sold, so it's best to get them out of the house before you list it.

Renters have zero skin in the game, so they likely won't cooperate the way you would need them to in order to have a successful sale. They will not stage the home the way it needs to be staged, they will not leave the home when buyers arrive for showings, and the tenants will often exaggerate about the issues they have with the home when buyers are present. There are also times where the closing process is delayed because tenants don't move out on time, which serves to add time and stress to the whole process. Bottom line: If you want to get the best results when selling your rental property, get the tenants out of the home!

Next, let's talk about multi-unit homes. If you find yourself in a situation where you have an empty unit, whether it's a duplex or a triplex, the best thing to do is not always to get it occupied right away. I like to allow another investor or buyer to see that particular unit so you don't have to disturb your other tenants. If the investor wants to pursue it further and can verify that they're well-qualified, we can then disturb the other tenants and show the empty unit.

If you have an occupied property, make sure you're maximizing the rents. So many people have tenants in every unit, but they aren't getting the most out of the rental. If you're setting rents below market value, it's going to lower the market value of your property! Investors are going to look at that and will pay you accordingly.

If you have any questions about selling your rental property, or if you would like some advice on how to maximize your rental profits, please don't hesitate to reach out to me. I would love to hear from you!

The Importance of Prequalifying for Your Mortgage on the Sun Coast

Marcus@SoldByMarcus.com (Marcus Vanzant) — Wed, 24 Feb 2016 10:06:00 -0800

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It’s very easy to stick out to home sellers in the Sun Coast. You just need to be pre-qualified for a mortgage. It makes you nearly as good as a cash buyer! If you’re not pre-qualified for a loan, most sellers won’t even look at your offer.

To explain some things today, I have Mike Tullio with Guaranteed Rate. Mike says that the first step in your home search process should be to get pre-qualified. The market is extremely competitive, so this is a necessity. You need a legitimate letter that proves a professional has studied your credit and finances, and can vouch for your ability to afford a home.

This will also help to determine what kind of home you can afford, and this makes the home search process much easier. This is one way to set yourself up for success. You don’t want to waste time looking at homes that you cannot afford. You will need to submit a lot of documentation to Mike, but this process is all worth it. You will be an attractive buyer, and you will also know exactly what kinds of homes to look for. This also speeds up the process for you!

Sellers on the Sun Coast should also be aware of this and only look for pre-qualified home buyers. This is the safest way to guarantee that a transaction will go through smoothly.

If you have any questions or concerns about this process, you can contact Mike here, or simply reach out to me.

I look forward to hearing from you!

Now Hiring at Marcus & Company Realty

Marcus@SoldByMarcus.com (Marcus Vanzant) — Mon, 8 Feb 2016 14:40:00 -0800

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Our office is looking for two new agents this year! We had an excellent year of business last year. We’re expecting more awesome success in 2016. Particularly, we’ve moved to accommodate more people. We also have more leads coming in. Thus, we need some new talent to help us pursue all these leads.

If you’re qualified, we have leads already lined up for you. You need to provide exceptional customer service. We can train you if you’re just getting into the industry. We anticipate each agent will earn a $60,000 to $100,000 salary by your second year. For information, please visit bradentonrealestatecareer.info. There, you will find a personality quiz and other ways to pursue the opportunity.

If you or someone you know is thinking about pursuing real estate as a career, give us a call today. We’d be happy to talk to you about joining our team!

Help Us Expand Our Referral Program

Marcus@SoldByMarcus.com (Marcus Vanzant) — Tue, 26 Jan 2016 09:34:00 -0800

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We have a referral program with lots of local businesses. It’s important to us. Clients often ask us about who else can help them through the selling and buying process. We contact and work with so many people in the industry, so we created a referral program with lenders, attorneys, private contractors, and just about everything else.

I’m asking for your help today! We’re looking to expand our referral program. Additionally, this year, I’d like to start interviewing local businesses through these video blogs. We’re looking for the best of the best businesses in the area. If you own a local business, and you can prove yourself competent, send me a request to be added to the list. There will be an interview process since we want the best for our clients.

Contact us if you own a local business! Respond to this blog, give us a call, or send us an email. We would love to hear from you!