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Valuation

Throughout time, the real estate valuation model has been challenged for many reasons. A valuation which is often indicated by an individual that holds an appraisal license collects recent market data on market trends and comparable sales which gives them enough ammunition to give their opinion a value. The legal definition of an appraisal is an individual's opinion of value. There are many different methods depending on the type of real estate how to back into the actual valuation or price of a property. Here are some important factors that weigh in on an accurate valuation.

  • Condition of property
  • Location of property
  • Bedroom count
  • Bathroom count
  • Proposed rent roll
  • Proposed expenses
  • Zoning Comparable Sale
  • Comparable Market Analysis

At the end of the day it is only the valuation that matters.

Your opinion does not matter. Zestimates do not matter. Facts matter. Recent Market data matters.

It is key to have local market experts in the appraisal field doing the final valuation of your piece of real estate.

Click here to request your home valuation (sends them to contact form to order appraisal and pay).

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Will and Estate Planning

Often times people find out about needing a will or estate planning when it is too late to matter. Wills should be done anytime you are getting married, accumulating assets, having children, making partnerships, or simply aging. A will is to clearly define what happens in the event something goes wrong in your life, inevitably death.

Estate planning is not for everyone. It is recommended to have this discussion once you've accumulated a net worth of over $1,000,000 which consists of cash, valuables, real estate, or securities.

This is the best planning you can do to avoid paying estate tax. Massive wealth usually is not something that happens overnight or is planned. However, knowing the process, system and requirements will help you set goals and give you the peace of mind to know what to expect as you are accomplishing your life tasks.

It is crucial to engage a certified financial planner and will trust and estate attorney that have worked together in the past to help individuals like yourself succeed in the above mentioned information.

It is strongly advised to find people who have worked together in the past who have your goals, visions, and best interests in mind.

Real Estate Accounting and Tax services

It is very important to hire a CPA or up to date tax preparer the second you plan on owning a home or already own a home. Many companies such as Liberty Tax, H&R Block, and Jackson-Hewitt hire individuals that do not fully understand full tax codes and benefits, along with deductions for their clients that own real estate. Many individuals stick with the same person who does their taxes, and more often than not the person who does their immediate friends and families taxes. Because every single person has different levels of complexity when it comes to taxes, (such as income variations, dependents variation, expenses and or write-offs, interest and dividends, along with assets and charitable donations,) you need to have someone who knows what they are doing for you.

Contractor Consulting

Never go to friends and family when you are looking for your contractor needs. It is definitely important to get an average overall quote from at least two to three contractors.

It is important to do your research when selecting a contractor. A great way to research a contractor is to look at past projects and online reviews. Getting quotes from several different contractors will help you determine fair pricing. To protect yourself, never pay your contractor the total up front for work. Be sure to follow The Rule of Three’s: One third payment as a deposit, one third payment half-way through the job, and the final third upon completion.

Full Mortgage Options

It is important to find a lender with a proven track record and a wealth of knowledge of the industry, in order to properly educate you in finding the perfect product for your needs.

Real Estate Tax Reconsideration and Rebuttals

Interest rate is not the most important factor in choosing your lender. The majority of time lenders advertise the lowest interest rate because they are desperate and have no business coming into their lending institution. There are many factors that go into mortgage financing, such as credit score, income parameters, debt ratios, housing expense ratios, assets, and liabilities. Depending on your personal financial and credit profile, your rate may be positively or negatively impacted by all of the items above. Asking for an accurate rate quote would only be recommended if your lender or loan officer was given the information above, plus more.

Notification of Flood Zone

With current climate trends and the unpredictability of devastation as demonstrated by Hurricanes Katrina, Super-Storm Sandy, and most recently Hurricane Harvey, it shows it's imperative that you know where your property stands in terms of flood zones.

Click here to find out whether or not your real estate owned is in a flood zone, but uninsured.

Here are some other important facts to research:

  • Hurricane Insurance
  • Wind Insurance

Although these items can be found under our insurance section, we feel the need to emphasize these two overlooked items that have devastated families that the news will never tell you about.

If you know someone or have a loved one that is elderly or does not have a mortgage on their property, we highly recommend you research if they are in a flood zone. It is always better to be better safe than sorry.

Anyone with a mortgage on property located within a flood zone is required to maintain flood-zone insurance. What some people may not realize is that even though their property may be payed off, without flood insurance they could lose everything.

Proper Insurance: Life, Property and Casualty

Over 80% of Americans are under insured on their assets. While many believe insurance is a rip-off or waste of money, we believe insurance protects your family and loved ones in the event something goes wrong. For as little as $20 per month, you can take out a basic life insurance policy that can pay as little as the cost of your funeral, up towards delivering your family hundreds of thousands of dollars in the event of an accident, or you become physically unable to work and maintain your income levels. We highly suggest you contact a life insurance adviser with a proven track record, and also a property and casualty adviser who has a proven track record. Although many insurance providers do both life and property and casualty insurances, usually they specialize in one or the other. We recommend getting independent opinions from each individual consultant.

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