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        <title>Real Estate News, Information, and Ideas </title>
        <link>https://www.lockardrealty.com/blog/</link>
        <description>Residential and Commercial Real Estate News and Information.  Homes for sale in Waterloo, Cedar Falls, Cedar Valley, and Northeast Iowa.</description>
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    <guid>https://www.lockardrealty.com/blog/kitchen-renovation-high-end-looks-on-a-budget/</guid>
    <link>https://www.lockardrealty.com/blog/kitchen-renovation-high-end-looks-on-a-budget/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>Kitchen Renovation: High-End Looks on a Budget</title>
    <description> <![CDATA[ 
Tight on your budget and still want to have a high-end kitchen look? Here are suggestions by industry experts on how to get the high-end look without breaking the bank. 


Simply updating your appliances is one way to achieve that high-end kitchen look.  Keep an eye out for sales while checking out appliances from reputable brands. With proper consideration, you can go about finding what you are looking for at the price that will meet your budget. 


Interior designer Nate Berkus, who also happens to be the artistic advisor of LG Studio’s high-end appliances range indicates, &quot;The right appliance can make the space feel much more finished and expensive. Plus, they involve almost no construction, but change the functionality 100-fold.&quot; If you're forced to choose just one appliance, &quot;do not skimp on the dishwasher,&quot; says Sandra Miller, president of real estate agency Engel &amp; Volkers. &quot;It's often the most overlooked appliance in the kitchen.&quot;


A dramatic yet cost effective way to change the look of your kitchen is the inclusion of a neutral color palette for surfaces like the countertops and flooring.  This provides a universal appeal and inviting atmosphere. Michelle Miller, realtor at Lockard Realty says, “It is amazing what a new ceramic floor or granite countertops can do to your dreary old boring kitchen.  These simple changes will bring a timeless warmth along with aesthetic sophistication that never feels boring.”


Avoid unnecessary investments such as statement light fixtures that can be a potential waste of money. &quot;Anything with personality, like a chandelier, is a potential waste of money. Such changes reflect personal taste and can be a major turn-off to a prospective buyer who doesn't share your sense of style,” says Michelle Miller.


A contractor once said that he could make any home look more expensive simply by adding better-quality trim, such as baseboards, crown molding, and door and window casings. This is true for almost all homes. “If you're a novice, pass on this upgrade until you can hire a pro: your home is likely not perfectly square and it can require some expertise to make sure everything lines up,&quot; suggests certified interior designer Kelly Morisseau.


Everyone loves the kitchens that they see on the television cooking shows. However, home buyers are looking for a larger kitchen when shopping for a house. The best renovation for your kitchen is to create an illusion of space. People today gather in the living room adjoining the kitchen. Hence, it makes sense to encompass space to create a lively and relaxing atmosphere is this part of your house.


According to Homeadvisor.com, an average a kitchen remodel costs between $20,000 and $30,000. For high-end kitchen redesigning with eco-friendly options you can spend upwards of $50,000. 


The best advice is to know what you want before starting the renovation, then plan on achieving that look in a manner that fits your budget. “Timing is everything.  Be patient, find the deals, and be willing to put in some sweat equity,” says Michelle Miller. “You would be amazed what a few thousand can get you when you plan it just right.”
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    <pubDate>Tue, 22 May 2018 10:16:00 -0500</pubDate>
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    <guid>https://www.lockardrealty.com/blog/3-standard-mortgage-types-and-how-they-work/</guid>
    <link>https://www.lockardrealty.com/blog/3-standard-mortgage-types-and-how-they-work/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>3 Standard Mortgage Types and How They Work</title>
    <description> <![CDATA[ 
For many, their home is the single-most important purchase they have ever made. A lot of time and effort goes into locating the right property. But, when it comes to finding the best mortgage, why do most people take what is being offered rather than research and secure the best mortgage available for their situation?


Considering that you will pay the bank more in interest over the life of the loan than the home is worth, why wouldn’t you invest the same time and effort in finding a mortgage that will reduce the amount of interest you are  paying, potentially saving you tens of thousands of dollars?


There are various types of mortgages available to home buyers.  Each type has their advantages and disadvantages.  Lenders will offer specific mortgage types for you to choose from that favor their bottom line. But when you are armed with the proper information, you can sort through the various available choices to make a deal that is advantageous for you.  


Fixed Rate Mortgage


A Fixed Rate Mortgage is the loan with a fixed rate of interest that stays the same for the entire term of repayment. They usually come in 15 and 30 year repayment lengths.  Mortgages of this type are predictable and allow you to set a fixed budget for repayment.  They are considered stable, but you pay a higher price in interest over the length of the loan.


Adjustable Rate Mortgage 


Adjustable Rate Mortgage (ARMs) involve an interest rate that adjusts according to the changes in the rate paid on bank certificates. Unlike a fixed rate mortgage, variable rate mortgage payments are typically fixed for a certain time frame and then adjust to the current rate after the initial time frame is over.  This type of loan carries a lower interest rate initially vs a fixed rate loan, however, because the rate adjusts over time, it can eventually adjust to a higher rate, thus causing you to pay more interest over the life of the loan over a fixed rate loan.   


 


Balloon Mortgage


With a Balloon loan, the borrower has to pays a fixed rate, similar to that of a fixed rate mortgage for a specific time frame.  The rate is usually comparable to that of a fixed loan.  However, once the initial term time period is up, usually 5 to 7 years, the remainder of the balance of the mortgage is due in full.  This can be a risky proposition.  In most cases, homeowners refinance their loans, but unless you are hiding a crystal ball in the attic, you don’t know what loan rates will look like 5 to 7 years from now and you may end up with a higher rate than when you started.


Each mortgage has their pros and cons.  As a home buyer, you need to decide which mortgage fits your budget, your lifestyle, and the level of risk you are willing to assume.  But now that you are armed with the proper information, you are able to secure a mortgage that is right for you.
 ]]> </description>
    <pubDate>Mon, 23 Apr 2018 08:32:00 -0500</pubDate>
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    <guid>https://www.lockardrealty.com/blog/the-evolution-of-marketing-real-estate-then-vs-now/</guid>
    <link>https://www.lockardrealty.com/blog/the-evolution-of-marketing-real-estate-then-vs-now/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>The Evolution of Marketing Real Estate; Then vs Now</title>
    <description> <![CDATA[ 
Customers are the lifeblood of any business.  Advertising is the lifeblood to attracting customers.  Real estate agents, just as with any other business out there, need to continuously find new buyers, sellers, and properties.  To do this, the real estate agent deploys a variety of marketing strategies in order to keep a steady flow of business coming their way.


Gone are the days of the “spray and pray” technique of newspapers, bus stops, and direct mailers.  The market has changed. There is more competition for everyone’s attention, and the age of being the “knowledge bearer” given way to the information age. Below are some comparisons of how the real estate business has evolved over the years.


Ease of selling properties


Selling real estate in the “good old days” was a fast and easy process. All that was needed for marketing was a real estate professional, a Multiple Listing Service (MLS), run a few newspaper ads, and then close the deal. Today, marketing is much more planned and the property is listed in as many as 15 to 20 platforms. Websites, apps, social channels, videos, listing services, all on top of the still popular print ads helps agents compete in a crowded marketplace for prospective and knowledgeable clients. 


“Among nearly all generations of home buyers, the first step taken was to look online for properties, except for buyers 71 years and older who contacted a real estate agent first.”[1]


Geo-specific marketing, with a twist


Real estate agents used to “own” areas.  There always was on agent or office that handled the majority of the market in a specific geography.  These local agents where located in those towns and were the subject matter experts for that area. 


Today, with websites, social media and knowledgeable consumers, agents need to know about larger markets and Have an understanding of how these markets work. Website traffic will attract buyers and sellers from a larger geographical region, and increase the amount of competition for consumers. In order to satisfy the larger market, real estate agents deploy geo-specific marketing campaigns that allow them to appear in specific regions of a market, pinpointing a custom tailored message to potential buyers and sellers.  They look local, with a regional grasp oN the market. These tactics help with getting their client the attention desired.


Business is about reviews


Not much has changed with word of mouth marketing.  Instead of someone tell one friend at a time  about your services, you are able to tell all your friends at one time about your services. Word of mouth advertising can give your business that edge over the competition. Today, more people base their realtor selection from word of recommendation than any other form of advertising.


&quot;Eighty-eight percent of buyers would use their agent again or recommend their agent to others, also consistent across all generations.&quot;   


 [1] https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf
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    <pubDate>Wed, 04 Apr 2018 09:13:00 -0500</pubDate>
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    <guid>https://www.lockardrealty.com/blog/top-5-fastest-growing-companies-in-iowa/</guid>
    <link>https://www.lockardrealty.com/blog/top-5-fastest-growing-companies-in-iowa/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>Top 5 Fastest Growing Companies in Iowa</title>
    <description> <![CDATA[ 
Why is the Cedar Valley is the Future Business Center in the U.S?


The Cedar Valley region in Iowa recorded the second-highest percentage of GDP gain in the region. According to a Forbes Magazine report of 2015 the Cedar Valley ranked at the 49th position out of the 201 metros battling it out to become The Best Small Cities for Business and Careers. In fact, the State of Iowa ranked as America’s Top State for Business in 2015 by CNBC.


The Cedar Valley is a few hours from some of the major markets around Chicago, Kansas City, St. Louis and the Twin Cities. Having said that, there are over 5000+ companies located in the Cedar Valley region, including Fortune 100 companies, as well as startups across various industries including, but not limited to, Information Technology, Logistics, Manufacturing, Bioscience, Insurance and Mortgage.


Business Journal Inc.5000 [1]has listed these popular companies in Iowa that are fast evolving as major service providers across a number of sectors:


Converge Consulting


With an exponential growth of 1009.37, the company ranks at the top spot in the education industry of Iowa with a focus on content strategy, inbound marketing, search engine optimization and web analytics helping universities recruit students and engage alumni.


Heritage Group


Featuring at the second highest ranking with a growth rate of 682.71, Environmental Services provider, Heritage Group, provides microbial protection to employees, tenants and building owners.


GrapeTree Medical Staffing


Provides medical emergency services and healthcare facilities at a 324.73 growth rate in the health sector, GrapeTree provides medical staffing solutions to people in the region.


Happy Medium


Delivers the best advertising services with website development, SEO and social media assistance. Recording just under 300 rise in business in the advertising and marketing sector.


Itasca Retail Information Systems


The software service provider manages inventory, forecasting, and direct store delivery from smartphones in the retail industry. The company has witnessed a business growth rate of 294.79 last year.


[1] https://www.inc.com/inc5000/list/2016/state/ia
 ]]> </description>
    <pubDate>Wed, 21 Mar 2018 10:05:00 -0500</pubDate>
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    <guid>https://www.lockardrealty.com/blog/support-your-local-charities/</guid>
    <link>https://www.lockardrealty.com/blog/support-your-local-charities/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>Support Your Local Charities</title>
    <description> <![CDATA[ 
Money is not the only thing that helps keep charities afloat, volunteer hours pay big dividends and  provide the much needed support to many. If you are looking to contribute to a local charity, ask what is needed more at that time; money, volunteer hours or both?


Supporting your favorite charitable organization takes many forms.  Some groups require financial assistance, other volunteer hours.  Some, like Iowa Habitat for Humanity require sweat equity for their volunteers through help with painting, landscaping, or restoration of living spaces, and building homes for the community.  Iowa Habitat for Humanity advocates for fair and just housing policies by providing the training and improved shelter to help families.


“No matter who we are or where we come from, we all deserve to have a decent life. We deserve to feel strength and stability day after day. We deserve to know we have the power to take care of ourselves and build our own futures. Through shelter, we empower.  Because you, me, we - are all humans.  And every one of us deserves a fair chance,” – Iowa Habitat for Humanity.


Founded in Americus, Georgia, USA, Habitat for Humanity has helped repair over 8,00,000 affordable homes to shelter more than 4 million people worldwide. The organization currently operates in more than 70 countries around the world.


“In fiscal year 2016, over $27,000 was tithed to help 6 families with affordable housing. U.S. Habitats collectively tithed $13.8 million, which allowed Habitat national organizations to serve an additional 3,000+ families.”[1]


In the quest to serve communities, irrespective of race, caste and culture, the Northeast Iowa Food Bank is driven by the core belief that no one should suffer from hunger and that everyone deserves quality food to sustain life and nourish health. Since their journey way back in 1981, the group has expanded and now distributes millions of pounds of food to over 200 agencies through 16 Northeast Iowa counties.


Today, they provide food to 5,800 people through a far-reaching pantry for those who are hungry in Iowa. Here is a fact sheet that provides an insight about their current programs through which you and I can work together to help solve hunger.


Another Cedar Valley charity we find helpful is Love Inc, a Christian organization in the Cedar Valley with a holistic approach that helps people in the community get the training they need to live a self-sufficient and sustaining lifestyle. Clients can request for help from Love Inc. and the need is referred to the most appropriate partner church or other faith-based organization that can address the need. Some of their support work includes providing bus passes, gas cards, furniture, food boxes, medical supplies, shoes and transportation. They also assist with home repair, home support, kitchen essentials, moving assistance, and more.


So do yourself a favor and get involved.  Find out about your local charites and see which ones align with your belief systems and make an effort to make a change. 


 


[1] http://www.webuildhabitat.org/about/global-impact
 ]]> </description>
    <pubDate>Thu, 22 Feb 2018 09:36:00 -0600</pubDate>
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    <guid>https://www.lockardrealty.com/blog/an-ideal-buying-or-selling-experience-in-real-estate/</guid>
    <link>https://www.lockardrealty.com/blog/an-ideal-buying-or-selling-experience-in-real-estate/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>An Ideal Buying or Selling Experience in Real Estate </title>
    <description> <![CDATA[ 
The single most important and perhaps significant factor that every residential or commercial real estate buyer or seller has in mind is to have a smooth and trouble-free experience during the process.


Consider a perfect scenario: To sell your property at the best price, you will need to have it listed in as many outlets as possible. So, you do that and potential buyers keep pouring in to check out your property. There is no binding contract, hidden charges and commission fees involved. The real estate professional that you’ve hired is extremely cooperative and takes care to connect you with the right experts – marketers, architects, photographers, and lawyers, which speeds up the selling. Buyers are satisfied dealing with professionals knowing that there are no added fees involved and everything is just as described-perfect. 


In fact, you quickly find the perfect buyer in just a few weeks. The buyer pays the full value of your property and you hand over the keys to the new owner. That is indeed a nice experience and every buyer-seller would prefer such a process. But, reality is far different from this fantasy. 


Agents come and agents go.  Real estate offices are in bidding wars for homes to make a profit.  If you don’t do your homework you might be stuck with an agent who over-promises and under-delivers. These type of mistakes can cost you thousands.  


So, how do you create an ideal buying or selling experience in real estate?  Do your homework.  Ask trusted friends and family members who they have used for their real estate transactions.  Were they happy?  Research the real estate office and potential agents you may be dealing with.  Go to their website and find out how long they have been licensed?  How many homes are they listing? What are the average days on market?  Do they get what they ask for when selling?  


Start with the realtor’s website and then expand your search to social media channels and even Chamber services.  Once you have researched and found the right agent, contact them for an interview.  Real estate professionals are able to understand what buyers/sellers need and can provide details of properties in their price range or expectations in an area. “Buyers are doing their research online prior to finding an agent, and it really helps them weed out agents who may not help create a positive buying or selling experience, ” says realtor Jim Benda of Lockard Realty. “To create a comfortable, relaxed and trusting relationship with my buyers and sellers, I am committed to work relentlessly to obtain the results that my clients expect. It is my goal to represent all of my clients with professionalism, integrity, commitment and unsurpassed enthusiasm.”


 


There are many different reasons why a homeowner might want to sell a home. A lot of mixed emotions are associated with the decision. Working with the right realtor can help provide a seamless transaction during the buying and selling process. Buyers, sellers, and professional real estate agents together are instrumental in providing the ideal buying or selling experience in real estate, no matter whether it is your first time or you are a seasoned investor.    
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    <pubDate>Tue, 06 Feb 2018 13:38:00 -0600</pubDate>
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    <guid>https://www.lockardrealty.com/blog/top-5-myths-about-real-estate-debunked/</guid>
    <link>https://www.lockardrealty.com/blog/top-5-myths-about-real-estate-debunked/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>Top 5 Myths About Real Estate Debunked</title>
    <description> <![CDATA[ 
Misinformation is the greatest hindrance for both buyers and sellers of residential and commercial real estate, especially when engaging the industry for the very first time. There is so much misinformation revolving around out there that first time buyers and sellers have a difficult time navigating truth from fiction.  Here are some myths debunked by industry experts Dave Kruse and Steve Knapp of Lockardrealty.com


Myth 1: The gift of foresight


“My experience in the market and gut tell me that XYZ opportunity is the way to go,” sasy a bad realtor, frequently.  Certainly, successful residential and commercial real estate professionals do have an industry knowledge that would help them predict future market conditions. But that alone won’t get you very far.  A true real estate professional takes his market experience and combines that with data points and industry specific information using the tools at his disposal to make fact based decisions in a market that often lacks certainty.   


Myth 2: Only the wealthy can invest


Many back off from investing in real estate projects thinking that you must be wealthy in order to do so. But real estate investments are not about investing expensive commercial or residential real estate.  Many investors start with small, affordable, and highly desirable real estate properties under 1500 square feet.  These “entry level” investments are a great way to minimize your financial exposure while working your way to real estate investment independence.


Myth 3: Real estate investments are too risky


When you hear people saying that investing in real estate is too risky, you must know that it is a result of fear and ignorance. Income generating prospects in industries such as the commercial and residential real estate can get risky if you lack knowledge in the field. Educating yourself about the opportunity and doing your homework reduce the unseen risks that keep many armchair investors out of the market.


Myth 4: Don’t Invest Until You Know Everything


Well, define everything?  While being prudent and understanding the real estate investment opportunity, you truly will not learn it all through books. Accumulating knowledge will only take you so far, eventually you have to roll up your sleeves and get your hands dirty. There will be times when deals throw you a curve ball and you will most likely strike out.  But when you see that curve ball coming the next time, you will be prepared to hit it.  


Myth 5: I Don’t Have Time Syndrome


If you want to be a successful real estate investor, you will have to set aside time to make it happen. Just as with anything, if you want to be successful at something, you just have to start doing it.  Simply dreaming about being a residential or commercial real estate investor will not make you the next big player in the industry. You have to set aside the time to give yourself the opportunity to do it.  What’s more important, bingeing on the latest streaming show or learning a new talent that has the potential to give your family financial freedom?


Top industry professionals with years of experience like Dave and Steve have debunked these common myths of several clients. If you truly want to become a real estate investor, then clear these doubts and fears. To consult the experts that have been there and done that, visit lockardrealty.com/   
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    <pubDate>Thu, 18 Jan 2018 10:12:00 -0600</pubDate>
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    <guid>https://www.lockardrealty.com/blog/5-reasons-to-use-a-real-estate-professional-vs-for-sale-by-owner-fsbo/</guid>
    <link>https://www.lockardrealty.com/blog/5-reasons-to-use-a-real-estate-professional-vs-for-sale-by-owner-fsbo/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>5 Reasons to Use a Real Estate Professional vs For Sale By Owner (FSBO) </title>
    <description> <![CDATA[ 
Buying and or selling real estate is one of those things that most of us will engage in at some point of time in our lives. Both the buyer and the seller are looking to maximize their value and often attempt to do this by avoiding the services of the real estate professional.  What looks like the easiest way to save a few thousand up-front sometimes turns into a sure-fire way to tens of thousands more than you expected in the long run.


Here are 5 reasons why you should utilize a real estate professional to help you buy, sell, or rent your next real estate transaction:




Real Estate Professionals Know the Market




Real estate professionals are able to price the property correctly. Current industry pricing for business and home sales in specific locations are understood by the real estate professional. By doing this, listings by real estate professionals sell quicker and often at higher prices.  Inaccurate pricing is the number one mistake made by the FSBO market.  Because of this, there is a greater chance that an FSBO listing will remain on the market longer than those listed by professional real estate agents. Gradually, with time, the listed value of your property will need to decrease to initiate a sales.


“There’s a reason nearly 90 of sellers use a listing agent as selling a home takes time, knowledge of neighborhood trends, and negotiating skills. While eliminating the agent’s commission sounds mighty tempting, try to resist.”[1]




 Real Estate Professionals Have Years of Experience 




The experience of an agent from years of selling similar properties allows them to quickly and decisively suggest improvements to your home’s appearance. These timely and accurate suggestions increase the chances of getting your listing sold quicker and at a higher price.




 Real Estate Professionals Find the Right Buyers so you Don’t Have To




Another dyed-in-wool reason why many people prefer to seek help from a real estate professional to sell their home is because they are able to find the right buyer for your home. It is the real estate professional’s job to take care of answering all the queries of a potential buyer, even if you have already moved on to your new home.  A real estate professional does all the work for you and gives prospective buyers the freedom to look at your property in your absence.




Real Estate Professionals Provide an Easy Sales and Negotiations Process




Let’s face it, buyers looking out for their best interests can be difficult to negotiate with. Unless you have relevant information about the current trends of the industry, you may not be able to apply your understanding when negotiating the price for your home or business. A real estate professional has expertise with the complicated landscape of the industry and knows how to negotiate with various buyers based on their experience.




Real Estate Professionals Reduce the Headache of Necessary Paperwork 




An average homeowner may not be familiar with the loads of paperwork and legal aspects of selling and buying homes or commercial properties. With the help of a real estate professional, the process of buying or selling your home or business just got a lot easier.  With just a few phone calls and a quick meeting, a real estate professional can have new deal signed, sealed and delivered hassle free.


[1] http://time.com/money/collection-post/2803544/should-hire-real-estate-agent-to-sell/
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    <pubDate>Mon, 08 Jan 2018 11:32:00 -0600</pubDate>
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    <guid>https://www.lockardrealty.com/blog/14-best-websites-and-apps-to-search-for-commercial-and-residential-real-estate/</guid>
    <link>https://www.lockardrealty.com/blog/14-best-websites-and-apps-to-search-for-commercial-and-residential-real-estate/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>14 Best Websites and Apps to Search for Commercial and Residential Real Estate</title>
    <description> <![CDATA[ 
Buy, sell, rent, or lease, LockardRealty.com has the Cedar Valley’s friendliest user interface and is a handy site for all your real estate needs.


Just a few taps and swipes on these real estate websites or apps and you could be well on your way to buying your next dream home or renting  that local commercial property, right from where you are sitting. Finding a home to live in or a rental property has never been easier thanks to these great tools:   


LockardRealty.com LockardRealty.com is the easiest search tool for commercial and residential real estate in the Cedar Valley.  With just one click you are on your way to searching for your dream home or commercial property. LockardRealty.com’s clean interface and always free search keeps your searches private and unobtrusive.  We let you decide when you want a real estate professional’s help with your search. So breathe easy and search easier, LockardRealty.com has what you are looking for. 


Zillow.com Zillow lets you search for your home using the custom filters along with the ability to search for foreclosures. In fact, Zillow goes a step further by listing schools nearby to your area with detailed information so families with kids or planning to have kids can make a home search based on the school quality.


Trulia Take video tours of homes and explore areas around the property. Save your preferred home listings to boards so you can keep them organized in one place.


Owners.com Search for homes or sell a property using the app. Users get 50 off on the commission purchasing a home through the service.


Homesnap Custom search for homes by area according to your preference. Just click a picture of a home you pass by using the app and get to know all the information about the property.


Realtor.com With just a swipe on the app, perform custom searches for open properties, nearby amenities, local points of interest, and pictures of the listings. Save 3D maps of homes you like and access them from any of your devices.


Naked Apartments Find out all about open houses in New York (yes, the app is just for the New Yorker). Search about the neighborhood, schedule meetings with brokers and more. A handy checklist for those new to the apartment hunt is a great guide


Zumper Browse for rentals or new homes from over one million listings throughout the U.S. Explore new homes, connect with landlords or brokers directly through the app.


HotPads Search for an apartment in major cities and also get notified when a new listing that matches your preference is available. The advanced app finds rentals tailored to your needs.


Redfin Search for as many homes as you want through their multiple listing service. Filter to custom search for homes in your neighborhood to find out all nearby amenities. Also, get to know which homes around you are likely to sell out fast. In fact, sell your home with Redfin’s agents and pay 1.5 less fee than the industry average.


Mouseprice When it comes to staying informed about a property’s full sales history, Mouseprice is the place for you to look up. Instantly get access to the listing history of the space and get to know the real profit. So, you can either squeal with joy thinking of how much profit your current home is making or even get frustrated thinking about your neighbor paying much less taxes than you


Rent.com If you want to find rental properties and actually visit them, then Rent.com lets you know of the available visit times. A number of resident reviews help you narrow down the search.


Apartment Guide Take a closer look at spaces with the HD photos and floor map. This allows you to send interesting images to your friends and also receive photos of available spaces. The feature is great to search for property listings with pictures. If you are looking to buy a house, there are ample images for you to get inspired from.    


Lovely The app displays all available rental properties near you. A tap on the app page lets you discover photos, property and neighborhood information. Fill in your budget details in your profile and run a search for the desired property type. Also, you can set filters for the price, number of rooms, or even pet-friendly homes and in few seconds your search becomes much easier. Another benefit of using the app to locate home rentals is that you get notifications of when a certain property is available for you to ren
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    <pubDate>Thu, 30 Nov 2017 10:18:00 -0600</pubDate>
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    <guid>https://www.lockardrealty.com/blog/what-kind-of-property-makes-the-best-rental/</guid>
    <link>https://www.lockardrealty.com/blog/what-kind-of-property-makes-the-best-rental/</link>
        <author>tori@lockardrealty.com (Tori Lockard)</author>
        <title>What Kind of Property Makes the Best Rental?</title>
    <description> <![CDATA[ 



By: Brandon Turner Source: BiggerPockets.com


In 2006, NASA admitted they had accidentally taped over the original recording of the first lunar landing.


In 1962, Decca Records had a choice to sign one of two bands. They chose Brian Poole and the Tremeloes. The band they rejected? The Beatles.


In 1788 the Austrian army accidentally attacked itself and lost 10,000 men.


Clearly, mistakes happen. The same will be true for your real estate business, though hopefully to a lesser extent than the examples mentioned above.


However, one mistake that can be deadly to your real estate business is this: choosing the wrong property.


Making the mistake of picking the wrong property is a lot like picking the wrong spouse. It can be incredibly stressful, expensive to get rid of and detrimental to your well being


But how do you know what the right property is? After all, there are a lot of properties out there.




What should you buy?


What should you avoid?


Are four bedrooms better or worse than two bedrooms?


What about garages?


What about neighbors?


Color? Age? Size?




These are important questions you should be asking if you want to buy the right deal and have the most success as a landlord, so let’s dig in on several things that I look for when shopping for a rental property.


Keep in mind, all of this depends heavily on the trends in your location. Furthermore, the following list is not a bunch of rules you must follow, but rather pieces of wisdom that I’ve picked up on and have served me well. So let’s get to it.


Bedrooms


It’s hard to get long-term tenants in a one or two bedroom house. Tenants who are single tend to choose a one-bedroom, but quickly hook up with that cute guy/girl from work and now need a larger place. They move into a two-bedroom and soon start having kids and now need more space again. Therefore, in my experience, three or four bedroom houses tend to make the best rentals because they attract long-term tenants, cutting down on your vacancy expenses. Furthermore, three-bedroom houses are also generally the best kind of property to sell, which can be great when it comes time for that.


If you are looking for a multifamily property, two bedroom apartments are usually acceptable and incredibly common. Single bedroom and studio apartments are also common, but tend to attract a more transient tenant, so expect more turnover in that style.


Also, understand that having more bedrooms is not always better. Once you get into the five bedroom homes or higher, you’ll find the only tenants willing to rent them are families with a lot of kids. Now, I like kids as much as the next person, and I would never discriminate against them (that’s illegal), but the truth is: Having a lot of kids is hard on a property. Broken windows, stained carpet, etc. Keeping a house to three bedrooms (and maybe four) is the best way to keep the kid count low, legally.


Age


The older the property is that you buy, the more expensive it’s going to be to fix. I invest in a lot of older homes because they offer the best price in my market, but I definitely pay dearly for my choices.


Projects that seem to be fairly simple have a tendency to get out of hand quickly, as existing but unknown problems are discovered. You have to deal with the work others far less skilled have done over the years and live with the consequences of past shoddy work.


Older homes are also generally less energy efficient than newer homes, which can cause the utility bills to be much higher. You might not think that matters much if the tenant is going to pay for their own heating or cooling, but trust me, tenants know. If your property costs an extra $100 to heat or cool, your tenants will do the math, and you may have a more difficult time keeping a property rented long-term.


Again, I’m not telling you that you should not invest in older homes. Just understand that the newer the property is, generally the fewer issues you will need to deal with.


Garage


When investing in single family houses, it can be difficult to find a stable, long-term tenant in a house without a garage. Tenants tend to accumulate a lot of stuff, and they need a place to store it. Plus, in areas that get a fair amount of snow or rain, tenants like the luxury of being able to park in a garage.


I’ve generally found that the homes I own that have garages stay rented far longer than those homes that do not.


Utilities


Some properties, especially older ones, have all the utilities paid by the owner, which is NOT ideal.


I only buy these kinds of properties if the numbers truly make sense — because having so little control over this major expense will cause a major headache. When tenants don’t need to pay for their own heat, they tend to leave windows open in the winter or their air conditioner running 24-7 in the summer. If they don’t need to pay for water, they’ll never let you know about the constant drip in their bathroom costing you hundreds of dollars a year.


When looking for single family homes, look for ones where all utilities (including water, sewer, garbage, electricity and heat) can be paid directly by the tenant. When shopping for multifamily, at least look for ones where heat and electricity can be paid by the tenant, and if you can find properties that can be converted to a “master metered” system to allow tenants to pay for their own water, you’ve potentially struck gold


Lawn


Properties with large lawns, gardens and other outside features will never be taken care of by tenants the way that you or I would take care of them. Although there are exceptions to every rule, I look for properties that have smaller yards to keep the yard work for the tenant at a minimum. That said, recreational space IS very important in attracting a stable long-term tenant, so make sure there is somewhere the tenant (and their kids) can go to run around and have fun.


Parking


Stable tenants need a place to park their vehicles. Off street parking (a driveway, carport, or garage) is something nearly all great tenants prefer, so look for properties with this feature. And generally two parking spots are better than one, three are better than two, and so on. 


Location


When shopping for a property, keep an eye out on what’s nearby. A tenant is just like you: They want to eat out occasionally, they want to take a jog in a park, they need to pick up milk from the grocery store. They want to send their kids to a good school and have a minimal commute to their job.


They don’t want to be mugged, shot, stolen from or embarrassed. So buy in locations that tenants want to live in, and you’ll find a more stable rental.


These are just a few of the property characteristics I look for when buying a property. You don’t need to get each and every one perfect to get a great rental property, but these factors are important to consider when shopping for a property.
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    <pubDate>Mon, 10 Aug 2015 10:07:00 -0500</pubDate>
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