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How Much is My Investment Property Worth?

How Much is My Investment Property Worth? Read the full blog post here: https://robrosarealestate.blogspot.com/ Let's talk about whether or not this is a good investment or what price should we sell it at. The income approach will help us determine the property's value. The income approach is used for valuation of income-producing properties such as apartment buildings, office buildings, retail stores and shopping centers and is based on anticipation. These are the 5 steps that are taken into consideration - G - I - V - E - N GROSS Income - estimate it depending upon market, also include sources such as vending machines, parking fees, and laundry machines. Vacancy - deduct for vacancy and rent loss. Expenses - items such as heat, hot water, utilities, real estate taxes, insurance, legal & accounting fees, advertising and property management are included. Mortgage payments (principal and interest) are debt service and are not considered operating expenses. Net...

Here are some incredible real estate stats! Don't just sit around and wait!

Here are some incredible real estate stats! Don't just sit around and wait! Read the full blog post here: https://robrosarealestate.blogspot.com/ This is uncharted territory, much different than housing crash of 2007. There were warnings in 2003 with mortgage derivatives, unregulated loans, interest only and adjusted rate loans. Hartford County - central CT single family home statistics - Sold by week were normal, nothing out of the ordinary. - Average price of homes sold per week, again, normal, nothing out of the ordinary BUT wait... - Pending transactions (under deposit, continue to show, contingency). Having much longer closing times. Need to work with experienced real estate agents and loan officers. For Buyers, now is the time: - Standards to get loan increasing - Work on credit repair and saving - Get longer rate lock For Sellers, now is the time: - Prepare to sign extension requests - Work with an agent to sell who knows the 4 Ps of marketing:...

ADU? How will that help my real estate value?

ADU? How will that help my real estate value? Read the full blog post at https://robrosarealestate.blogspot.com ADUs (Accessory Dwelling Units) are usually small units that are built in the back or side of a parcel's main home. In many cases a mother, father, family, loved one, caretaker lives in this 2nd unit. These are an opportunity to stay closer with loved ones and still having your own privacy. It is an opportunity for maybe the homeowner to even make extra revenue from the rental of the ADU. The ADU is usually about 500 square feet and will be built at land level with wider doors and handicap accessible features such as lower counters and handles in the shower. The cost to build a unit such as this might be about $40,000-$50,000 or even more. I have many tradespeople available to help: electricians, plumbers, roofers, framers. You know who you are! There can be many local community rules, restrictions and municipal ordinances and so you have to make sure y...

Real Estate Escrow? What is it?

Real Estate Escrow? What is it? Learn about tips for Buyers and Sellers when dealing with Deposit money - escrow accounts. What is best way to handle it? How much money should we offer? What happens to the money? Generally, the real estate sales contract provides that the listing broker will hold the deposit money deposited by the buyer. A separate account for the deposit of the money but be maintained. No comingling or conversion. These deposits must be made within three banking days from the date of obtaining all signatures from all parties to the transaction. Interest earned on real estate broker accounts is paid to the Connecticut Housing Finance Authority to benefit a program for first-time homebuyers. A few cents from each transaction will add up to quite a lot to help others. A buyer and seller may decide other arrangements in the Purchase & Sale Agreement. The amount of the deposit is dependant upon many factors. Is the buyer competing against multip...

DIY home prep while in quarantine

DIY home prep while in quarantine Here are 4 of my best tricks for getting a home ready to sell. All things you can do on your own while hanging out with the fam! #1 Declutter your entire house (top to bottom) Chances are, if you’ve lived in a space for an extended period of time, you’ve probably accumulated quite the collection of “stuff”. However, most buyers aren’t there to look at all your knick knacks you’ve collected over the years. They’re trying to picture themselves living in the space. And it’s hard for them to picture living there with all your personal things scattered around. Rooms that you should focus on include the kitchen cabinets, bedrooms, and living rooms. This also means tucking away your prized possessions and family pics. Trust me on this one! #2 Freshen up your paint If you’re like most of my sellers, you probably have some scratches on the walls, chipping paint on the baseboards, and normal wear and tear that comes with living in a home. There’s ...

Do you have a shadow?

Hello Friends, Not sure if you have a pet, we have a little dog (small in size, not bark or attitude) named Rolo. He is a nine year old Shorkie (half Shitzu and half Yorkie). He seems to be extra attentive these days while we are practicing social distancing. In fact, we joke about how he is now our shadow. He follows either my wife or I all around the house and when ever one of us sits down he lays right by our feet. I believe he actually knows something is going on and wants to help us feel better. His loving eyes, as he watches our every move, are amazing. He's been right there everyday with unconditional love. One thing has changed though, seems as though he only wants to eat if we feed him from our hand. In the past, we put his food in his bowl and give him the command it is ok to "go eat." Now he will just look at the food and walk back to our sides. If we put the food in our hand, he gets as close ...

Did you see who won the gift card this week?

If you shared or liked and commented on our live video showing virtual tours last week you were entered into our drawing for a $25 Amazon Gift Card! Watch who wins live and stay tuned for more contests! This week we will be live with virtual tours, discuss CT real estate market previews, review the real estate pre-licensing class and discuss terms you want to know in the real estate business.

Enter our drawing for $25 Gift Card!

We are on the road today! Not exactly, we are virtually viewing properties together and I am sharing many of the beautiful and unique features of these properties. Stop in, SHARE and LIKE - COMMENT to be put in a drawing, held on Saturday 4/11/2020, for a $25 Amazon Gift Card. See actual pictures of homes at 23:49 and after. Had technical issues beforehand. Rob Rosa, is a caring, full-time real estate broker in CT with Berkshire Hathaway HomeServices New England Properties. These homes, along with others on the market, can be viewed at http://ctrealestateselling.com. Let's enjoy some time together, sit back and see what's out there for sale. https://youtu.be/zBj4w7kK2vs #realestate #sellingrealestate #realtor #localexpert #sellers #bhhs #home #sold #bhhs #realestateagent #multipleoffers #multipleoffers #buyer #buyinghome #listreports #houseexpert #thehelpfulagent #foreverbrand #househunting #berkshirehathawayhomeservices #berkshirehath...

Real Talk and COVID-19

Hi there, This is a situation many of us never thought we would be in just a few weeks ago. Some of us have family members that are putting their lives in danger, now more than ever. Some even have family members that have passed away. My wife's aunt actually passed 3 days ago, alone in the hospital, from this terrible virus. This is hard and very real. We feel vulnerable, we feel angry, we feel upset, we feel afraid, we feel overwhelmed, we feel confusion and sometimes even sick and tired of this whole thing. Let's honor our feelings. Let's not just stuff them down. We can be gentle and patient with ourselves and others. Let's take one thing at a time, one day at a time. I want you to know I am here to talk, if you need me. We can get through this together. As we move through these challenging times, I want to reassure you of my commitment to continue to provide support to others; my family, my friends, my clients, customers and colleagues. T...

Well-kept Multi Family in Hartford For Sale

162-164 Standish Street, Hartford, CT Get Directions Click Here Description Photos Maps & Local Schools Print $ Click for current price 3 BEDROOMS | 3 Baths (3 full ) BATHROOMS | 2473 SqFt 3 Unit Property fully rented in good condition includes updated electric, tenants pay for own heat, hot water and electricity. Plenty of off-street parking and potential galore. Follow This Home Free Home Values Search All Homes For Sale Schedule a Showing/Request Info Presented By: Rob Rosa Berkshire Hathaway HomeServices New England Properties 860-558-2122 Licensed In: CT ...