Jason Robie: Don't flail when you flip

By Jason Robie

You might think the house flipping "window" has closed since we're long past that wild market from a few years ago. But you'd be wrong. I firmly believe, regardless of the market, flipping homes is always a possibility. There are always opportunities if you are willing to do the homework and sleuthing to find them.

Regardless of the market "temperature" house flipping can be a lucrative and, honestly, exciting project. I'm waiting for the right car (and a healthier budget) to restore my dream car, an early 70s beetle. You know, the "real" VW bug. Not one of those horrible new ones you see driving around today. With real estate, the same strategy should hold true. You'll want to wait for the right project, the right location (of course) and the right budget.

Getting renters off the fence

 


What it will take to turn renters into buyers

By Erik J. Martin
CTW Features

Despite rising rent prices nationwide, mortgage interest rates remaining at near historical lows and positive job growth numbers, many renters aren’t buying into the American dream of homeownership — at least for now.
A new survey by the National Association of Realtors suggests that elevated home-price growth and low housing supply are resulting in slightly weakened confidence among renters as to whether or not now is a good time to buy a home: among the respondents polled between July and September, 78 percent of homeowners and 60 percent of renters (down from 82 percent and 62 percent in March, respectively) indicated that now is a favorable time to purchase a home.
Experts say the aforementioned findings are understandable, considering current market conditions.
“Facing their own price inflation through rising rents, many renters are having a hard time saving for a down payment. For those ready to transition to homeownership, lack of supply and rising home prices are dimming their confidence,” says Adam DeSanctis, economic issues media manager for the National Association of Realtors. “And despite job creation picking up in recent years, homebuilding hasn’t kept pace. The lack of new construction means fewer homes available for sale and more buyers competing for shrinking existing inventory.”
Todd Huettner, president of Huettner Capitol in Denver, says the survey’s results don’t surprise him.
“Renters are worried that they will get caught buying a home at the top of the market, and many get slapped in the face by the reality of the home buying process – from trying to qualify for a loan, finding an agent and searching for a home,” Huettner says. “It seems easy in theory, but actually trying to buy a home involves far more effort and stress than many renters realize. The result is that renters started this year (2016) as excited and confident prospective buyers and became frustrated and lacking in confidence by the end of the summer. Plus, the election noise sowed uncertainty about the economy and jobs, which could also have an impact on their confidence.”
For renters to feel more positive about purchasing, “a much-needed boost in new home construction for both move-up buyers and first-time buyers is required to alleviate price growth and preserve affordability,” DeSanctis says.
Matt Murphy, CEO of Chime, a real estate marketing firm in Palo Alto, Calif., believes renters should get off the fence and strongly consider purchasing before the end of winter.
“The winter season is a great time to buy a home, as the amount of buyers decreases and sellers are usually under pressure to sell,” says Murphy, who adds that continued low interest rates may not remain this low for much longer.
“Now is as good a time to buy as any if the situation is right for the person’s specific situation,” Huettner says. “If a renter will be in their home for several years to cover the transaction costs, and they have a strong financial plan to put them in a position to succeed as a homeowner, they should look at buying. They should also look at their rent compared to the cost of buying.”
In many cases, owning a home is usually cheaper than renting, says Andrew Saltman, principal broker of Carbon Capitol in Jacksonville, Fla.
“For example, I was working with a client paying $5,000 a month in rent who had an opportunity to purchase what would be an even nicer residence and pay only $3,000 a month for a mortgage,” Saltman says.

 

© CTW Features

 

Stunning views on Granger Pond


This remarkable home located at 329 Bushrow Road in Denmark, Maine, lays in the land of open fields, stone walls, orchards, mountain views and groomed forested pathways along with 700 feet of Waterfront on Granger Pond, making it a rare find in today's market.

Built circa 1800, the home has been remodeled with well-thought-out design and craftsmanship. With a classic center chimney, the home provides multiple hearths, including a woodstove in the living room, pellet stove in the dining room and open fireplace in the den.

Sophisticated Madison colonial


On the border of Conway with low Madison taxes on a beautiful country road, who wouldn't love this location?

Located at 112 Allard Hill in Madison, this well-built colonial has large rooms and hardwood floors. The home offers a great master bedroom suite complete with its own fireplace, full bathroom and spacious walk-in closet.

Enjoy the fully equipped kitchen with breakfast bar, formal dining room, living room with fire place, plus a first floor family room/sitting room. There are two additional bedrooms and two more full baths offering plenty of space for everyone.

Lots of hand-painted detail reflect the sophisticated taste of the previous owner. Enjoy a deck, and great backyard that borders the acres of S.O.L.O woods. Beautiful Landscaping and that "curb appeal" capture your eye immediately.

In this cold and snowy weather an additional treat is being able to park your car in the garage and walk directly into the house. In the summer enjoy resident only beaches on Silver Lake. This home is a must see.

The cost is $209,000. The mls number is 4606682. Bonnie Hayes is the selling agent at Select Real Estate. She can be contacted at (603) 447-3813.