donald payne: Does your Retirement Portfolio Include Real Estate by Donald Payne CRS
- 08/17/12 10:35 PM
Investors are still shaking off the memory of watching what happened to their IRA stock portfolios during the nightmarish global financial crisis. Even the groggy recovery that’s been under way ever since has featured the kind of stomach-churning drops that drive investors to the Pepto-Bismol.
So it’s not surprising that some have been searching for alternative assets that could grow tax-free within their retirement accounts. And lately I’ve been hearing from more clients who are asking about the possibilities in real estate, including investment property, second homes and even vacant acreage.
You read that right: … (5 comments)
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donald payne: Foreclosures Go To Prepared Buyers by DONALD PAYNE, CRS,CDPE
- 08/03/12 08:00 PM
If you are organized and willing to put in some serious spadework, buying a foreclosure can save you thousands of dollars. A new wave of foreclosures could be heading our way later this year. According to RealtyTrac, the leading source of foreclosure statistics, one in every 665 national housing units received a foreclosure filing in July. More foreclosures mean more opportunities; but it also means that more buyers will begin to think seriously about going after them. In other words – more competition.
If you have never looked into what is involved in snagging one of … (3 comments)
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donald payne: Before You Sign That Lease… by DONALD PAYNE CRS, CDPE
- 07/30/12 02:33 PM
It’s a familiar moment: you are about to enter into an important agreement, and as you lift the pen to sign your name, you pause. Your pen hovers over the Signature line for an extra moment as you register how important this will be in shaping your future…
When it comes to home rentals in Columbus Ohio, just such a moment occurs when you are about to sign the next year’s lease agreement. Rentals largely echoed the national trend to higher prices and tightening supply, so the number of dollars on the bottom line can make that … (3 comments)
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donald payne: Short Sale Strategies Take Vigilance by Donald Payne CRS,CDPE
- 07/24/12 07:10 PM
Following some legislative changes, successfully navigating a short sale has become a little easier, but is still a transaction that takes care and vigilance. A short sale -- the arrangement between seller and mortgage lender that allows the seller to sell the property for less than what is owed – can be quite involved. It requires negotiation directly with the lender, and contractual arrangements that can carry over into the future. If you are considering short selling your house, or simply want to know more about what it would entail, these are a few pointers to bear in … (5 comments)
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donald payne: Importance of a Mobile Presence by Donald Payne, CRS,CDPE
- 07/20/12 08:41 PM
Mobile technology has finally caught up to the increasingly mobile consumer. Nearly 35-40% of all web traffic originates from a mobile device - Smart Phones, Tablets and/or E-Book Readers. Google has estimated that by the end of 2012 over 50% of all web traffic will be mobile and by 2015 this could be as high as 70%. Consumer behavior is changing and the tools we use to connect with our potential clients must adapt in tandem.
In sailing, the first skipper to notice a wind change and adjust accordingly, usually wins the race. Similarly, … (10 comments)
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donald payne: Selling a Home Through Targeted Remodeling by DONALD PAYNE CRS,CDPE
- 07/13/12 08:14 PM
Though things are looking up in real estate these days, selling a home is as demanding as ever. As in any serious business proposition, looking for ways to increase the value of your offering will always pay dividends.
One of the major ways you can make your own home more marketable is to do a bathroom remodel. It’s always a key focus for prospective buyers…and yes, it does sound like a lot of work (and a lot of money) -- but there are a number of ways you can cut down on both.
First, step back and … (2 comments)
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donald payne: Remodel Alternative: Look to the Walls! by DONALD PAYNE,CRE,CDPE
- 07/12/12 06:01 PM
Look to the walls! Homeowners preparing houses for sale can hesitate when they suspect the overall look and feel of the interior has grown dated. With good reason, they may fear that prospective buyers will be drawn to newer, fresher-looking competitors…yet the cost and delay of all-out remodel is unattractive.
One alternative is to ‘look to the walls’ for an easy and budget-friendly alternative to a complete remodel. Few things can date a home the way old wallpaper does. Unfortunately, just painting over it is not a solution that usually works very well. Let’s face it: the old … (1 comments)
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donald payne: Sophisticated Foreclosure Funding Strategies by Donald Payne CRS,CDPE
- 06/28/12 09:29 AM
The mortgage industry has changed substantially since 2007, when the opportunities for “house flipping” as an investment strategy were widespread. Today, for investors seeking to take advantage of short sales and foreclosures in Columbus, Ohio, those changes are especially meaningful. One of the aftereffects of the subprime mortgage meltdown is the way banks now treat mortgage lending. Every banking organization has developed new approaches for handling foreclosures and short sales, but in the non-distressed portions of their loan portfolios, other changes have become evident, too.
Banks have grown increasingly reticent to lend to investors with … (2 comments)
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donald payne: Single-Family Home sales Stabilize by DONALD PAYNE, CRS,CDPE
- 06/12/12 10:09 AM
According to the National Association of Realtors®, first quarter statistics again point to better home sales figures. This time it was the prices of single family homes that rose in half of the major cities in the United States. Because of the wide differences between regional and state conditions, these figures are never in 100% lockstep, but Central Ohio homeowners should be encouraged by the report’s breadth: prices rose in more than twice as many cities as fell.
Of course, rising prices are always good news for homeowners who want to sell their homes; but beyond … (1 comments)
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donald payne: Short Sales Rising, Foreclosures Falling by Donald Payne CRS,CDPE
- 06/01/12 09:38 PM
For quite a while now, bargain hunters have been able to take their time combing through foreclosure listings. They’ve been looking for the kind of terrific real estate bargains that the last few years have provided -- and there have been plenty. But recent signs show that it may be time for them to step up their efforts.
According to RealtyTrac, the outfit that reports on current real estate activity of all kinds, banks are increasingly leaning toward short sales as a way to handle defaulted properties. There are good reasons why they would prefer short sales … (6 comments)
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donald payne: Curb Appeal Will “Git ‘er Done!” by Donald Payne CRS, CDPE
- 04/27/12 11:42 AM
As a whole, we Americans are an interesting group. We are smart, educated, involved in our community…and, not unlike the rest of America, our attention span about 5 or 10 seconds. It follows that when you put your home on the market and your agent places it among the local real estate listings, your home has about that long to grab potential buyers’ attention.
Time and time again, studies show that real estate listings with superior curb appeal get markedly more attention than those with run-of-the-mill photos. First impressions count. It’s how advertising agencies can charge … (5 comments)
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donald payne: Slip-Ups That Can Damage Your Credit Report by Donald Payne CRS, CDPE
- 04/26/12 10:12 AM
For credit-worthy homebuyers, getting a mortgage can be a walk in the park…or a nerve-wracking nightmare. The difference usually has to do with those ubiquitous Credit Reports – the ones TV commercials want to send you for free (at which point they will try to sell you not-so-free monthly services).
Anyone who has ever been stalled just as they reached the final stages of getting a mortgage or refinancing knows that getting mad doesn’t solve anything. But avoiding a last-minute problem is easy to do if you plan ahead. At least six months ahead. We … (8 comments)
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donald payne: Will Local Rental Home Rates Rise in 2012? Donald Payne CRS,CDPE
- 01/18/12 12:20 AM
Financial experts insist that they don’t have a crystal ball, but they still have to predict the future anyway. That’s why they watch a number of different economic indicators to determine the direction they expect different segments of the economy to head. For the owners of rental homes and their tenants, one of the most important segments is the one dealing with rents – will they continue to rise in 2012? If, as many experts predict, rents do continue on an upward path, it will mark the third straight year that they have done so. … (3 comments)
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donald payne: Buying a Gahanna REO—Easy as Pie?
- 12/26/11 10:19 AM
Sometimes the initials in an acronym are helpful, but ‘REO’ (short for Real Estate Owned) isn’t one of them. After all, isn’t all real estate owned by somebody? What the headline writers are talking about is a property, usually a repossessed home, owned by a lender. That’s usually a bank, government agency, or government loan guarantor, which typically comes into possession after a failed sale at a foreclosure auction.
Now let’s assume you’ve watched the late-night infomercials (Rich Dad Poor Dad, anyone?) and you’re pumped to buy a Gahanna REO to begin your climb to real estate fame and fortune. “Easy … (2 comments)
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donald payne: “Marketing Your Home During the Holidays”
- 12/12/11 06:40 AM
Marketing homes for sale during the holiday season is challenging, yet for the serious seller prepared to put in some extra effort, having the only home that sells this time of year will be ample reward.
Here are some quick tips to help you outshine other Gahanna homes for sale during this holiday season:
Stage Your Home for the Holidays
Christmas time is the most colorful holiday of the year. When it comes to staging a home for sale, this particular season’s décor also has the power to evoke a unique emotional reaction from potential … (2 comments)
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donald payne: Buying Your First Home
- 11/30/11 08:10 PM
Last year saw first-time home buyers snapping up the highest market share ever recorded (according to the NAR). After years of being pushed out of the residential market by spiraling home prices, first-timers are now coming into the market in force. Yet navigating the waters of today’s Gahanna real estate market can be tricky, especially for the first time home buyer who is faced with determining when - and what - to buy.
Some of the uncertainty that goes with an unpredictable economic news can be relieved by considering time-tested real estate buying guidelines. When considering buying a … (7 comments)
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donald payne: Home buyers Are Out There and Looking!
- 11/29/11 07:39 AM
When it comes to potential home buyers doing their best to assess the local real estate market, “conventional wisdom” can be more than a little misleading.
Abrupt, headline-grabbing news or events can sway that conventional wisdom in a hurry. But when conditions undergo changes that are subtle, slow to materialize, or when published statistics report months-old information – conventional wisdom can miss the boat altogether (or at least for the next few sailings!)
For quite a while, conventional wisdom has been that economic and political uncertainty was drying up the supply of home buyers. The numbers ultimately confirmed the trend. But … (1 comments)
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donald payne: Even Cowgirls Get over The Gahanna Property Blues
- 11/24/11 11:54 PM
Back in the ‘90s, Tom Robbins’ imaginative novel was repurposed into a forgettable movie – but the ‘Cowgirls’ theme was revived a few years ago in articles about the glum side of skyrocketing property value appraisals: outsized tax bills whose rise was the source of much gloom and doom.
At least today’s property owners don’t need to complain about rising property values – but they can (and do) worry about the tumble in book value. Since no one who owns a Gahanna property bought it so that they could lose sleep over it, how do you (and the cowgirls) make … (1 comments)
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donald payne: Listing an Occupied Property – The Balancing Act!
- 11/23/11 02:43 AM
It’s a common situation, but one without a standard solution: how do you handle a Gahanna area property listing when it’s leased or rented to an occupant other than the owner.
Real estate brokers and salespeople are fairly unanimous in the opinion that, from their point of view, a vacant property makes the best listing. Because there is no tenant to inconvenience, this situation provides the listing agent with maximum flexibility in scheduling his and cooperating agents’ access. No matter how fervently they may wish to avoid last-minute showings, keeping that option open can occasionally prove decisive. … (1 comments)
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donald payne: Help Your Real Estate Agent Help You!
- 11/22/11 06:03 AM
“Good bosses make good workers!” It's one of those truisms you don't even have to think about. You don't need an MBA to know that it's just plain common sense, whether it’s Nov. 2011 or a year from now.
When you commit to buy or sell a home (or business property, because all this applies to Gahanna,Ohio commercial real estate, too) you are in effect going into a new business. It will be a single-transaction business – but that transaction is a huge one. As in most businesses, you are going to need skilled, reliable labor: in … (2 comments)
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