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30Jan/110

Does Betty White Own a Condo?

We'll bet she does. Not that it's that much of a leap. After all, lots of people own condominiums. But we like Betty White, and she's been quite the media butterfly again recently, which led us to wonder "does Betty White own a condo?"

You don't have to be glued to the TV or have your head buried in supermarket checkout aisle magazines to know about Betty White. The charming and tough 89 year-old comedien and actress has experienced a sort of career rebirth recently, dropping salty language as host of  Saturday Night Live and being tackled in the mud by a football player for a TV commercial. She's also a star, along with Valerie Bertinelli, in the current series Hot in Cleveland. It's a long way from her appearances on television game shows and talk shows in the 1950s and '60s, her role as Sue Ann in the 1970s on the Mary Tyler Moore Show and--most famously--her long-running character Rose on the TV sitcom Golden Girls in the 1980s. In fact, Betty, who married for the third time at age 41, recently told a writer at AARP Magazine that sex got better with age.  Go, Betty!

Does Betty White own a condo? No doubt she has a sprawling home befitting a successful Hollywood personality, but somewhere in the world, we think she enjoys condo living, too. Choosing a condo has nothing to do with wealth. Rather, it's about independence, maintenance-free living and lifestyle. It's about having something of your own, be it penthouse or garden-level, luxury to affordable.

We like the possibility that Betty White owns a condo. We'll help you find your condominium, no matter where it may be.  

16Jan/110

Buyers

Prospective buyers have an edge in a down market but that does not always mean they will make money on the properties they buy or will find the best deal available.  In a buyer’s market, buyers will have the advantage but homework needs to be done before you make that all important purchase.  Today there are so many places to look that it can be confusing.  Prospective buyers need to know where they can get the best information which often times is the internet.  Internet searches can provide you with a lot of information but to really know the area in which you want to purchase you will want to contact a local Realtor.  Not just any Realtor, but a seasoned professional who has seen the ups and downs for the market area.  They can provide you some insight about the market and all the factors that may affect your purchase decision. Tips on buying come from many sources so do your research and heed the advice of the professionals. 

Now that you have done your research and found that seasoned professional listen to what they have to offer.  The information they provide can make all the difference in the world between success and failure.  They will most likely be the first to tell you to get your financing secured since they know the best deals go fast and you will need to act quickly with a strong contract.  They can find motivated sellers and will negotiate the best price with only your interests in mind.  They can provide comparative market analysis which will tell you as the buyer what the true value of the property in which you are interested as well as many other bits of information critical to your decision.

Many buyers enter the market when sales are slow and there is a glut of homes.  Many times buyers will want to jump into the market and there is nothing wrong with that but you may need to show some restraint. Since most buyers are buying for themselves there can be a great deal of emotion involved.  Sometimes knowing just when to jump in to the real estate market can save you thousands of dollars and make you feel really good about yourself for making not only a sound business decision but finding that home you desire.  Do your research and find that trustworthy real estate professional.

13Jan/110

Chicago Weather Forecast: Condos Galore!

There are not many things more beautiful than lightly falling snow. We just peered outside to predict the Chicago weather forecast: condos galore!

Yes, it's a classic winter day at OwnACondo.com World Headquarters, and even from the sliver of a basement window that we have access to here in the blogging department, we can't help but feel happy. Each flake so unique, so numerous...kind of reminds us of the current condo market. There is really so much to choose among.

The temperature is cold, but not oppressively so as winters go. We'll take 28 degrees F and some pretty snow over those paralyzing single-digit temps any day. It's hard to even function in such weather. No wonder people head south for the winter. But with the extreme weather in Atlanta these past few days, you might want to set your sights even further south if a winter getaway is your goal.

But while the snow is falling and people are bracing for the weather, the shoveling and the long commutes, consider what a great time it is to do your condo search. Use the advanced technology offered by OwnACondo.com to learn about and find condos that match your specific criteria from the comfort of your office and home. Then, with the help of one of our caring, dedicated real estate agents, you can continue your search by actually visiting condos that interest you.

A key component of your search is condo financing, so don't forget that important step. We can help there, too. Condo owners are going to want to see that you have a green light from a lender before throwing open their doors.

Take advantage of the Chicago weather forecast: condos galore! Get started today.

10Jan/110

An Investor’s Perspective

This is the last in a series of blogs regarding the purchase of real estate and is taken from the investor’s perspective.  Investors are a whole different breed of real estate purchaser,  motivated solely by the potential income that may be realized.  Investors ask themselves two major questions.  Is now the right time to buy, and will the property generate income now or sometime in the near future?  This is what drives investors to enter the market and make their move, but before they do that they perform a lot of research and look at the many factors that will influence their decision to invest and at what prices.

  • Are values going up or down? 
  • Are interest rates at a level that will make the payments affordable? 
  • Will my expenses continue to increase and can I increase rates to cover those expenses? 
  • What is the condition of the property and can I afford to make improvements initially? 
  • Does the area support increased rates or will they stagnate? 
  • Do I intend to sell the property relatively quickly or am I in for the long term? 
  • Does the market area show signs of overbuilding or over investing?

As you can see from the investor’s perspective it can be a complicated process and the need for information is critical.  Investors look at when they should enter the market and the short answer is it is always a good time to invest.  Always being a good time to invest and needing up to date information is where hiring a real estate agent as a buyer’s agent is critical.  A buyer’s agent's number one responsibility is to you, the investor.  They can tell you where the hot and cold areas are in which to invest.  They are able to present you with comparable market analysis which can help you make an informed decision regarding price.  They have the skills needed to negotiate the most optimal priced base on your research.  From the investor's perspective they need to know at what price and condition a property can be income producing and have no emotional tie like many purchasers of owner-occupied properties.  They are in for the return of their investment and will move on to other properties when they cannot get their price and terms.  Investors are making business decisions and, as with all business owners, they are in it for the money.  As mentioned before it is always a good time to invest and no matter if you are just starting out or are a seasoned investor, information is critical.

27Dec/100

Maureen Nesbitt

Fan mail...we get fan mail. Maureen Nesbitt, one of our many condo buyer specialists, is the latest recipient.

Our fan mail comes in the form of  letters, emails, phone calls and sometimes even a floral bouquet or a box of sweets with a pretty bow attached. And, truth be told, we ocassionally...but only very ocassionally...get complaint mail. How often? Oh, about once per occurence of Halley's Comet, which means the next complaint letter will arriving in...let's see... the year 2061. We can only imagine what postage will cost in 2061, although by that time, you're likely to hear  "Letters? Postage? What are these strange concepts you speak of?"

The latest letter of thanks  comes from Ninia S., who recently relocated to a condo in Oak Park, Illinois. The letter was completely unsolicted and it surprised us by its arrival. But knowing Maureen, we're actually not surprised at all.

Earlier in December, 2010, Ninia wrote:

"I am sending this letter to express my sincere appreciation for the hard work and dedication of Maureen Nesbitt. In my opinion, Maureen has gone above and beyond her call of duty.

About two weeks ago, I called the OwnACondo.com office...I was under the gun and needed to see properties right away. Once Maureen knew what I was looking for she began to send me listings right away. She has always been prompt at setting up the appointments and with getting back to me. She literally went through rain, sleet and snow to show me units that she thought would fit my needs.

She never pressured me into deciding on a unit that I really didn't want. She even gave me helpful hints and tips about the area and about being at my desired price point. From the day we met, I felt Maureen had my best interest at heart.

I believe Maureen is a great asset to your company and I wish her continued success."

Her colleagues at OwnACondo.com know that Maureen Nesbitt gets more compliments and thanks than we can shake a copy of a condo decs and bylaws at. But, like customer experiences everywhere, few people are actually motivated enough to compose a letter or an email when they are happy with the service they receive. That's just the way things are in this busy world, which makes Ninia S's letter all the more appreciated.  

Maureen is the company's senior condo buyer specialist. She's been with OwnACondo.com since day one, which doesn't go back quite as far as the last appearance of Halley's Comet in 1986,  but close  (she joined the company in 1997 as its first sales associate). Maureen singlehandedly sold out the first several entire condo projects the company undertook in those days, and she continues helping people buy real estate to this very day.  

Maureen points out she simply serviced Ninia the way she deserved to be serviced. "I didn't do anything more than give her my time, my knowledge and my attention, to the best of my ability," says Maureen. We have a feeling Maureen is being far too modest. 

OwnACondo.com serves condo buyers with an entire team great condo specialist Realtors. Maureen Nesbitt is the latest to receive praise from one of our many satisfied consumers thanks and she definitely won't be the last. Keep watching this space for more news about our specialists and how they can help you find your dream condo.

26Nov/100

Foreclosed Condos

As the number of foreclosures steadily increases, so do the opportunities to take advantage of the slumping housing market and to take the leap from renting to owning. Foreclosed condos are affordable investments that can provide you with the potential for return in your future. Now is the perfect time to purchase your own property instead of throwing all of your money away paying monthly rent. 

If you have been stuck in the viscous cycle of renting for a number of years now is the time to break the cycle. Monthly rents are on the rise in order to accommodate a number of rising costs. Energy prices are steadily increasing and so are property taxes as cash strapped cities and villages that are running out of other options. With monthly rents on the rise, how much longer will you be able to afford the cost of living? 

Instead of throwing your money away every month you could be applying your monthly payments towards your own property. The money that you spend every month will be recouped when you sell your property. Instead of merely paying a price to live somewhere, you will be investing in property that you will be able to sell for a profit in the future. If you purchase a foreclosed property that is selling below market value and you hang on to the condo for a couple of years until the real estate market improves, you will see a significant increase in value. 

Foreclosed condos are selling well below market value. Banks are requiring low down payments in order to get rid of the properties. There are many incentives currently available for buyers. You may find that the monthly payments on foreclosed condos may be even cheaper than the monthly rent payments that you were making. There are also a number of tax incentives that are being offered to first time buyers and anyone that purchases a personal residence. 

With the high number of these condos available you can even be selective in which unit that you choose. Many complexes have several condo units that are being foreclosed on and you will be able to find a condo that has the number of baths and bedrooms that you would like. Many of the condos are new construction or have recently been remodeled. It is a complete fallacy that foreclosed condos are in a state of disrepair or are old and dilapidated.

15Nov/100

Internships

Internships can be a great way for students to get an idea of what truly goes on within industries and companies.  The internship experience can be a win-win for both students and companies where students gain experience, network with employees and managers who later could assist with career choices.  Internship programs are a start in the decision-making process regarding lifelong career options and their importance should not be taken lightly.  A positive for the company is to have the added assistance of young employees, meeting and reviewing possible full-time hires which contributes to the educational experience of the students who participate.  These are just a few of the benefits of starting an internship progam.

Many different industries offer internship programs and students do not always need to major in the exact business type to gain experience and knowledge that will be valuable to whatever career choice they make.  A good example is that most real estate companies offer no internship programs due to the traditional model of that industry.  The industry is changing with new technologies and more and more companies establishing their niche markets enabling a variety of programs never before offered.  Many of these real estate brokerages are entering into these markets with not only cutting edge technologies but non-traditional programs designed to segment the market to represent only one aspect of the transaction, specifically  Buyer's Agency and Condomium properties exclusively .  Today many real estate companies have embraced the buyer's agency concept and find that the general public is very accepting of this type of representation.

How does all this relate to internships?  As stated earlier, you do not have to major in real estate or finance or other related fields to see the benefit of an internship with a real estate company.  The technology available to real estate agents today rivals any type of sales industry anywhere.  Interns can be part of the information technology field and be challenged far beyond what they imagined with customer relationship management, pipeline management and telephony technologies common now with most successful real estate companies.  Communication and media majors can contribute to companies by helping in designing websites, analyzing sites for search engine optimization improving rankings and assisting less tech savvy agents the use of social media to improve their business.  Many  potential interns may think of a real estate company as sales-only but there may be more opportunities than expected.

Students interested in internship opportunities with OwnACondo.com are invited to call 1-866-696-2266 for more information.

8Nov/100

Condo Sales

The American dream of owning your own home has changed over the last couple of decades.  The dream is still alive but the options have changed dramatically.  One of the fastest growing segments of property sales today is condo sales. Owning a condo has many things in common with owning a traditional home, but it is the differences that count.  It is important before you make that jump into home ownership that you know whether a traditional home or condo is right for you.

First of all, what is a condo?  Condos resemble apartments in many ways.  They can consist of several units in the same building or complex, with common areas like courtyards, lobbies, pools, etc. that are shared by everyone.  But condos, as opposed to apartments are owned by the individual tenants and not just rented.  When you purchase a condo you may be giving up some privileges but gaining in others.  It is this balance of benefits that will be most helpful when deciding what type of property to buy.

One area that you need to investigate before you buy a condo is the prices of similar properties that have sold in the complex or complexes in the immediate area.   Condo sales in the area can tell you if the price you are offering is too high or too low.  A comparative analysis will also tell you how long units in that complex have been on the market, if prices have been reduced, how many units are for sale, and the prices in which they sold.  With the ever changing real estate market it is important to be aware of all of these things to get the best value for your money.

Not all real estate agents are familiar with the nuances of condo sales.  Real estate transactions are most likely the biggest financial investment most people will experience in their lifetime, so it is even more important to find the right person for the job.  But how do you choose the        right person for the job?  First of all with most any financial transactions you will want to make a thorough search which can be done quite easily by attending open houses to see how agents work and to meet them first hand. Ask the prospective agent how long they have been licensed, how long they have worked in the condo market and how many sales they have closed in recent months.  Ask for references and talk to your friends and family about who they would recommend and why.  Once you have found the right agent you are well on your way to realizing the American dream of home ownership.

27Sep/100

Green Condos

There are thousands of homeowners discovering the benefits of environmentally conscious construction and green condos. Building experts and local developers predict that, as the cost of energy rises, consumer demand for so-called “green buildings” will grow.  Also, as new building technologies come into wider use, the overhead cost of developing green buildings will drop and become the industry standard.  Because green building results in energy cost-saving, healthier surroundings and more durable construction, they’re the future of condo construction.   But there are two stumbling blocks.  For green condos to catch on, developers have to gain experience working with the new energy-efficient, cleaner technologies to break the cost barrier.  Second, realtors and developers have to educate consumers on what they are getting when they buy green.

Most consumers want what is considered today as a high-performance home.  In the context of green condos it means a home that is safe, healthy and durable using resources efficiently.  Green condos are actually greener than the greenest single family homes.  With their high residential densities, they take up less space and preserve open land.  In addition, urban condos are closer to metro stations, bus stops and bike trails which discourage people from relying on cars to go everywhere.  Additionally, multi-family buildings are inherently green because fewer resources per unit are used to construct and to operate.

The technology today has exploded to cover almost every aspect of construction, materials, landscaping and energy renewal.  Home and condo builders today boast many green features, including healthier paint and carpeting, recycling of construction waste, lots of natural light, high efficiency appliances and systems, water conserving fixtures, use of renewable materials, minimal water use landscaping and “green roofs” that help moderate temperature while reducing and filtering water runoff.  Architects, developers and builders are all looking at ways to reduce carbon emissions and waste with the long term goal of creating buildings and technologies that produce more energy than they consume.  Builders are aiming to offer condo buyers green buildings in the same price range as what they would expect to pay for an old fashioned, non-green condo in the area.   It is a bold step for the building trades but they are up to the task to produce a high quality product that is cost effective and the market will ultimately embrace green condos.

Today some buyers are questioning investing in green condos.  Green condos are not only fuel-efficient and environmentally friendly but save a lot of money.  Who knew that being green could be so economically rewarding?  So what’s the question!

20Sep/100

Miami Condos

If you are looking for a low-maintenance lifestyle, maybe in a popular downtown location or near the beach there is no better place to look than Miami Condos. Living in a condo in Miami can offer many benefits that you will not find in a home in the suburbs.  They can offer more plentiful amenities from beach access, pools, golf courses, lawn maintenance and much more.  All of these things offer a different lifestyle that many find appealing but there are a few things you might want to consider.

  1. Condos usually have an association that has guidelines, some may be casual but others can be strictly enforced.  Get a copy of the rules and guidelines and make sure they will fit in with your lifestyle.  Being at odds with the association and possibly your neighbors can make home a much less appealing place to live.
  2. Many Miami condos come with a variety of benefits but also a cost.  Most associations have fees that cover many of the amenities which convinced you to entertain the idea of condo living in the first place. Some associations charge a small maintenance fee to cover the basics but depending on the extravagance of what are offered in your complex they can run much higher.  Associations are anxious to provide you with their list of fees, what they cover, and what is expected of you as an owner.  One last thing to consider regarding fees is to find out if the association is planning on any improvements or upgrades that can raise costs.
  3. Before you jump at that Miami condo find out about the community you are buying into.  Does it fit the lifestyle you want?  What is the financial status of the condo association?  How many units are vacant?  How many units are rented?  If possible, talk to some of the owners and find out if they are happy living there, how well the complex is being run, or if they have had past problems and how those problems were resolved. You are buying into an entire community and it is important that you know all you can before making a decision.

There are many Miami condos in all types of locales from downtown Miami to Coconut Grove to Key Biscayne offering something no matter your taste or budget.  No matter if you are retiring to south Florida to sit on the beach or find a vacation property there can be no more exciting location than Miami.