tips

How To Hire A Great Home Inspector

June 8, 2018 by Lance Mohr

One of the biggest mistakes home buyers makes when they hire a home inspection to inspect their home is thinking all inspectors are the same. This is a HUGE mistake that can cost your thousands of dollars. Watch this video to get some great home inspection tips so your hire a GREAT home inspector. Not all inspectors are the same. You have to do your due diligence to make sure you are hiring the right inspector for the task. This video will help you.

Transcription

Hi everyone. It’s your Tampa Bay Realtor Lance Mohr and in this videos, I want to talk about how to hire a great home inspector. I know this is really hard looking at buying a new home or a pre-owned home if you don’t know a home inspector but I’m going to talk about what you need to do to make sure you get a really good home inspector. That’s going to rip the home apart. That’s what I’m going to talk about in this short video.

I think when you’re buying a home, whether you’re buying a pre-owned home, whether you're buying a new home you need to get the home inspected. It doesn’t make any difference. A lot of people think while I’m buying a brand new home why do I need to get the home inspection before? Why do I need a home inspector? Well as I always say it’s a new home, it’s not a perfect home. So get a home inspector but don’t go out there and just get anybody and let me give you an example.

A while back, I had one of my clients and they hired their own home inspector and it was a 3,000 square foot home. Is about 10 years old. The inspector went out there and did the inspection in 55 minutes on a 3000 square foot home. I was shocked. I couldn’t believe it would take him a nap short of a time to do an inspection. So I was curious I asked the buyer I saw how much did you for the home inspection and he said $250 and they’re like oh well there you go.

See there are two types of inspectors in my opinion. Number one is you have the inspector that just goes out there. Tries to cram as many appointments in a day as they can. Maybe they do hour inspections or an hour and a half inspections they charge $250 or $200. They can knock out three or four of them a day and a lot of them do that. There’s a lot of those out there. That’s not what you want. You want someone you might have to pay him a little bit more money or at least fair market rate but if you want someone’ who’s going to be in there a while.

If my inspector went out to that 3000 square foot home he’d probably be there a good three and a half hours. Maybe four hours just depending. You want someone to go in to check the irrigation system. You want them up on the roof. Crawling through the attic. You want them looking at everything. The home inspector is pretty much at least in Florida they’re licensed, they’re insured, they’re bonded but you get what you what you pay for.

So I would say like my inspector he’s four hundred dollars. He would approximate let’s say $400 to $450 on a 3,000 square foot home. He would probably have been out there three and a half to four hours maybe more. I’ve talked to mine 2,500 square foot home where he’s been out there five hours before. He only does on to two inspections a day. Where this one was out there 55 minutes and it was $250.

So first off on how to hire an inspector, you get what you pay for. If the going rates about 400 dollars and you’re going to pay 300 or 200 or something like that. You got a figure you’re not going to get the most detailed inspector out there. Now the other thing I would highly recommend doing. Now but of course you might get the inspector from your real estate agent. You might get them from a family member, from a friend, from a co-worker but you want to do is ask them for an inspection report. So they should have an example inspection report that they could give you. So you could hoe detailed it is. Do they go over and above? Do they not only go through what’s on the state form but that they go through their own form? Do they take a lot of pictures that they give detailed explanations? What about the inspectors done can the selling agent call him or can you call him back.

I’m sure you can, you should be able to. Can the seller of the home call him or is it just like hey we’re one and done sorry I’m on to my next inspection unit pay for a bunch of people to be calling me. So you got to really look at it like you get what you pay for but always do your due diligence. Talk to people get an idea how long the inspector will generally be there for the inspection and get a copy of one of their inspections so you could see how detailed they are. You can see what the inspection report looks like.

I hope this video helps you. If it does and you like this video please do me a favor. Give me a thumbs up so I know that. If you have any questions. There you have anything you want to say leave them in the comments below. I’d love to hear from you. I’d do this videos for you. The home buyer and the home seller. So I hope this helps. I hope you have a wonderful day. If you are in the Tampa area and you’re looking a great aggressive agent don’t hesitate to reach out. Give me a call (813-317-4009) I would love to help you. Have a great day. For more educational real estate videos please visit my YouTube Channel.

How To Get The Best Deal on a New Construction Home

July 23, 2017 by Lance Mohr

All of the homebuyers want the best deal they can possibly have when buying a new home. As an experienced real estate agent and a new home specialist. This is the best advice I can give to get the best deal when you are buying a new home. At the end of the day, slinging an offer at the builder isn’t going to get you the best deal. It doesn’t cost you anything to have a Realtor represent you because their commission is already built into the price of the new home. So if they are a mover and shaker that sells a lot of new homes and know the ins and outs of the builders and how to negotiate with new home builder than you can get the BEST Deal!

Transcription

Hi everyone. It’s Lance Mohr, your real estate expert, and new home specialist. In this video, I want to talk about how to get the best deal on a new home.

This actually the question I get quite often. How do I get the best deal when I'm buying a new house? I wish I had an easy answer for you but the only answer I could give you is to make sure you're working and being represented by a real estate agent that knows what they're doing when it comes to new homes. Someone who sold a lot of new homes before, who’s selling a lot of new homes before that understands how builders negotiate and what you need to do. The reason, a lot of buyers will say “well yeah but I’m going to negotiate by myself”. I mean, at the end of the day, two things.

Number one, whether you are using a real estate agent or whether you're not their commission or their money is already in the price of that home because the Builder put in the price of their home when they were doing the numbers the prior year. I go into this on a lot more detailed one new home videos and if you haven't watched that I would highly suggest you do that. It’s up above. The other reason is, as a home buyer you are one and done. You’re not going to probably buy another home through this builder. None of your friends, family members that you're going to talk to about are going to buy a home. It’s like one and done. What does the Builder really care it’ business? You bring an agent in there, they know the agents that are selling. They look in their database and know the names. I had builders that I've sold so many homes before, I knew the President of the company. It’s just they know that stuff, they know who’s doing what, who isn’t doing what an agent that knows what they're doing is going to know how to negotiate with the builder.

It’s not just slinging mud against the wall and hoping you get a good deal. This is business that isn’t how you do it. I wish I could give you another answer. I would say get an agent, hire an agent that knows what they're doing. If you're in the Tampa Bay area, give me a call. I would love to work with you. If you're in another state or in another area in Florida, let me know. I have tons of contact with agents that are a new home specialist out there. They can help you get a better deal on a home.

The other thing you need to know, it also depends on the market where are at. Even though right now, we are in a phenomenally good market, I'm still having a lot a luck negotiating with the majority of all builders. With that being said there are some builders right now that just do no negotiation but I noticed over the years to homebuyers. It isn't necessarily how good of a deal the home buyer gets, it's just a matter of what most people want. They don’t want anybody getting a better deal than them. That's what I always tell my buyers. I say “I can’t promise you get what you want but I'll tell you this, someone's not to get a better deal than you”. You're going to get a better deal or just a good of a deal as your neighbor. In most cases a better deal.

If you have any questions at all let me know. If you need help finding an agent just fill out the form below and I will go ahead and get back to you. Just put your contact information in there. Tell me a little bit about what you are looking for and where you are looking. I hope you have a wonderful day. I wish you the best of luck and check out the new home video that I did. It is a lengthy video but it's going to go through everything you need to know when buying a new home. Have a wonderful day.

For more informative real estate videos. Please visit our YouTube channel https://www.youtube.com/user/Tampa2Enjoy.

Save Money On A New Home – Design Center Savings Tips

May 8, 2017 by Lance Mohr

If you are like me you want to save money when you purchase a new home. Well, in this video I go over a few money-saving tips before you get to the design center. Check it out and let me know what you think.

Click here to visit our Tampa Bay real estate website.

Home Selling Tips – Pictures

December 2, 2014 by Lance Mohr

I did this “Home Selling Tips” video to tell home owners how important pictures are when selling a home. Of course it all starts with hiring the right Realtor. So I also go over a couple basic tips for making sure you hire a very good agent.

If you have any questions about selling a home please give me a call.

The Real Estate Must-Haves No Buyer Should Overlook

September 11, 2014 by Lance Mohr

In the world of buying real estate, it is important to know what you are doing so that you don't get taken for a ride. That is where a lot of research on real estate buying protocol comes in handy. Follow these tips to help you get a good deal when purchasing real estate and to avoid scams.

Determine if your desired property is in an economically viable area. Find out if property values in the area are rising or declining. Check with your city's economic office about the recent history of income from the area. This can be a determining factor in whether or not the property will appreciate or not.

Take the time to investigate the inspector for your potential property. You should make sure that they are certified, work for a reputable company and if possible are with an inspector association that is non-profit. If not, their credentials may be supplied by a non-reputable organization that supplies them for nothing more than a fee.

If you've dreamed of having a vacation home, now is the time to buy. Home prices have gone down in popular vacation destinations like Florida, Las Vegas, and California, and so have interest rates. It sounds risky, sure, but as they say, you have to spend money to make money; and you can easily rent out your second house while you're not using it. It's definitely a good time to buy.

By searching for the best prices one can assure that they will be making the most of their money. Homes that have been foreclosed on can be found for attractive prices although more money may be needed to be invested in the home. Other homes can be bought for more but may require less money invested.

Potential buyers should be sure to get everything in writing. This is especially important when working with a builder, as options and upgrades which are verbally promised may not end up being honored. Make sure you have a knowledgeable Realtor that knows about new construction and a the local builders. This can help you to avoid frustration and confusion during and after your home closes.

One important tip when it comes to real estate is to make sure that you do your homework on what agent to choose. This is important because this may be the largest investment of your life and you need to make sure you are in good hands. Be sure to do background checks, read reviews, and try to find out their track record.

When you are moving, pack a suitcase full of things that you may need for a few days. Include things like clothing and toiletries. Keep this suitcase separate from everything else so that you can have easy access to things that you would need until you can get totally unpacked at your new home.

As you can see from the previous list of tips, buying real estate can be quite an undertaking even if you have done it before. It takes some work, research, and common sense to avoid making a poor purchase, but it is all worth it in the end to make a smart property purchase.

Please give me a call so I can help you with your real estate needs.

Tampa Real Estate Market Statistics For May 2014

June 23, 2014 by Lance Mohr

Check out the above video to view the Tampa real estate market statistics for May 2014. I do these real estate market statistics in Tampa to help educate home buyers and sellers. The data is taken directly from the MLS (MFRMLS). Please give me a call in you have any questions.

Transcript:

Hello everybody this is Lance Mohr I hope you are having a good day. I wanted to just go over the real estate statistics. I know for quite a few of you who follow us every month who want to see where the market is, where the market has been, and where the market is going I think that is great and I know it can get a little boring at times because you are not going to see some huge change from month to month but if you follow this over time and as just an example going back a year right here, look at last year where we were on inventory 3384 to last month in May over 5000 homes in the market and the same thing if we go to February to see where we were and of course 2013 was a little….I don’t want to say better it was a little different of a year because a lot more hedge funds were in the market sliding things a little bit but you can see where we’ve gone. You could see the monthly statistics; the home active listings went up slightly. You have the pending sales pretty much stayed the same. I think when you look right here short sales are continuing to drop as far as I think a lot of people are staying away from them. They are still about 9% or 10% of the entire inventory out there but here’s where the change is really occurring from last month to this month is short sales as you can see last month were 6% of all homes that closed and in April and May then went to 8%. Look at what bank owned did, they went from 23% to 19%. I’m not really sure why the short sales why this is happening right here. It could have just been a backlog and they were clearing out a little bit. I think with the bank owned you are starting to see, you’ve been seeing over time if you have been in the market or if you are a real estate agent in the market you have been seeing, the banks have just been over pricing their homes. I’m seeing a lot of that. Unfortunately banks and a lot of their agents, not that the agents really have any control over it because they are really…a bank agent is like a property manager, they are basically put there not to market, they are not put there for any form of customer service at all because it is some of the worst and they are some of the most unethical realtors…I hate to say that but it is true. They are pretty much like glorified property managers. They are there to appease the bank and do paper work for the bank; that’s basically what it is. What is happening is they really don’t have a lot into it and the banks’ ultimate decision to get educated but I’m seeing a lot of this where the bank might take a property and price it $185,000 or you will see some really ridiculous prices like $187, 650. Stuff like that and it will be over priced and in 30 days they will lower it and in another 30 days they will get it to where it should be but in the banking world on an REO property 30 days and 60 days in the market is quite a while and the home is already getting shop worn and people are starting to stay away from it. No different than if people are selling home the same thing tends to happen. Then the bank will eventually get a lower price than they probably would have if they had priced it right but they are really not following the market trends. This was a good thing last year and it was great because the banks did not quite have it figured out until probably the end of the summer how good the market really was but unfortunately right now banks think the market is better than it is. They think we are still in a 2013 market and we are not and so a lot of overpricing that way. You are seeing bank drops right here. I think this is the reason why. If you look this is comparison over time which is great to see what is going on. You can sort of even if I wanted to go back even further you can see right here going all the way back to 2013 and trailing into 2012 and 2011 it goes back quite a way. Anyhow you have this as statistics right here. You have May with a little further breakdown it is a good idea to have an idea where you are if you are looking at buying a home or if you are looking at selling a home. Where does your home lie? Is it 100 to 200? Is it 200 to 300? Where is it and what is the inventory like? Overall the inventory still under 4 months which is really good. You have to figure the average sales price of $180,000. You have right here you have inventory under 3 months for $100,000 to $200,000; even at $200,000 to $300,000 still very low inventory 300 to 500 very low inventory. I know this does not seem like low inventory right here but look at the price ranges. Check this out. If you have any questions on anything; real estate questions or any questions on the real estate market in general don’t hesitate to reach out and give me a call. I also have on my website tampatoenjoy.com a lot of great educational videos. I really wish people would start watching more of those because I get a lot of…yesterday I had someone contact me and she was very confused about how CDD fees work and home owner’s associations and a lot of people are still very unfamiliar with really how foreclosure/short sales work and how bank-owned properties work. I have all that information on my website tampatoenjoy.com. I also do this right here every week as you can see the home buyer webinars for buyers at TBbuyerwebinar.com and TBsellerwebinar.com. You are going to save tons of time just watching this because most people who are searching for a home if you like it great continue to do it but most people are not doing it right and they are just going to all these sites that are just more frustrating than good. I know visually Zillow and Trulia look good but you know it really, really hurts people I think in the long run because they are just a train wreck of a site, just completely outdated information. I know everybody is trying to find something that the next person doesn’t know about, but once you know the person or have an in on an investor that is just going to give you free money – because that is what an investor would be doing if they gave you a tip, giving you free money, I don’t think that is going to happen. Certainly not on websites like Trulia, Zillow or the MLS. Basically you have to be the first to the party so to speak. If you have any questions don’t hesitate to give me a call. Visit my website tampatoenjoy.com. Go to my Facebook page. Go to my Google Plus page. Like me. I appreciate it and I hope you have a great week. Have a great day as well. Goodbye.

The 93-7 Rule of Real Estate

March 24, 2014 by Lance Mohr

It sounds like a punch line, but it's the truth: it turns out 93% of real estate agents really are making the rest of us look bad.

Most people have heard of the 80-20 rule — that 80% of the work is usually done by 20% of the workers. In real estate, it's (amazingly) more like the 93-7 rule: 7% of all agents are doing 93% of the sales.

That means fewer than one in ten are real “producers” in the business; the rest are just coasting along.

Do you want one of the 93% as your agent?

It amazes me when I encounter some of the agents out there — they'll come in, tell the seller whatever they want to hear about things like asking price. They'll do hardly any marketing. And they don't even get back with other agents (like me) who call them and want help showing the house to a client. Then after the seller has been sitting … and sitting … and sitting … they'll eventually get a lowball offer and have to settle for it. And now we have statistics that tell us: this happens most of the time.

So how do you beat these long odds?

I tell my clients if they bring 10 real estate agents into their home, statistically only one of them will produce results — the other 9 will sit on their hands and hope to get lucky (spoiler: they won't). I also tell them that if I'm in that line-up, they can send the other 9 home.

Does it sound like I'm blowing my own horn? Possibly. But look at it this way: anyone can tell you they're that 1 agent in 10 who's going to produce results. But I can show you I really am — because I've got a track record that says so.

For every deal the next agent has done, I've done 10.

The average agent closes 4-6 deals every year; in my 20 years in the business I've closed over a thousand transactions. I'm in that “magic” 7% — we take on the work, we do the research, we stay active and we close almost all of the deals. And because we're closing almost all of the deals, we have a better marketing budget, we have better outreach — and we have better results going forward.

So make those statistics work for you: call me today, and I'll show you how having a good real estate agent makes all the difference in the world.

Please visit our Tampa Bay real estate website and see for yourself.

Here's some good tips about hiring a great real estate agent to list your home:

Six Tips When Selling Your Tampa Home

December 8, 2008 by Lance Mohr

Searching for creative ways to give your Tampa home a mini-makeover before placing it on the market? Here are a few time tested methods to make your home look its best without breaking the bank.

1. Yard Work. First impressions matter so make sure the first thing prospective buyers encounter is an attractive yet low maintenance yard. Clear away any clutter, position a few welcoming flowers or attractive garden objects and then take an inventory by asking the following questions:

Yes/No Is the yard low maintenance? If not, consider replacing high maintenance shrubs or grass with native plants that are easy to care for and attractive.

Yes/No Does the yard provide a focal point? If not, plant a fruit tree, flower bed or other attractive area.

Yes/No Is there a notable problem spot in the yard? Unsightly power lines, a nuisance object from a neighbor or other unattractive feature can ruin an otherwise beautiful backyard. Put up a divider, shrubs or other screen to minimize the impact so potential buyers have an opportunity to really look around.

2. Paint. Painting is one of the best investments you can make; keep the colors neutral and take time to paint every room for a fresh clean appearance. Pay special attention to doors, window frames and other areas that typically receive a great deal of use.

3. Brighten the Lights. Make sure your home is well lit and bright when shown; open the curtains and install higher wattage bulbs in each room. It makes your home look more spacious and fresh when shown.

4. Pressure Spray. It is surprising how dirty the outside of your home can get; rent a pressure sprayer to clean the driveway, roof, eaves, walkway and other areas of concrete such as a patio etc around the home. It’s an inexpensive way to brighten the area and make it look clean and fresh.

5. Accessorize. The same way accessories turn a plain outfit into a stunning and sophisticated look can work wonders for your home. Instead of replacing doors, windows, cabinets and sinks take time to update door knobs, faucets, plumbing fixtures, lights and other accessories throughout the home. Combined with a deep scrub or fresh coat of paint, new knobs or other accessories can transform a dull appearance into a more modern and up to date look at a fraction of the cost.

6. Clean the Closet! Ditto for the garage, garden shed and cabinets. Prospective buyers are likely to look everywhere so don’t neglect those out of the way places. Make sure they are clean and attractive as well as accessible.

If you are looking to sell your Tampa home please give us a call.

Tampa Foreclosures: Fixer-Upper Tips

October 28, 2008 by Lance Mohr

real estate & forclosure tips If you have been considering the purchase of a foreclosure or other Tampa Bay home in need of repairs then here are a few money saving tips and ideas to help you decide if the price is right.

1. Find Out if it qualifies for free money. Depending upon the property, your personal income status, the type of real estate involved and the repair or upgrade being performed there may be free money or rebates available to offset the cost. Common examples include special energy assistance grants or rebates for installing energy efficient air handlers, water heaters or other upgrades.

2. Always get three quotes first. Even if you intend to perform the work yourself it is a good idea to get at least three quotes before starting. Not only does it help manage costs in the event you are unable to perform the work but it provides a good idea of the average cost (including labor). Remember, the lowest estimate isn’t always the best – find out what is truly involved by comparing all quotes.

3. Call insurance before starting. Don’t assume you can purchase insurance while performing major repairs. This is especially true if the home doesn’t have a current certificate of occupancy or if it will remain vacant for 30 days or more while repairs are taking place. You may need a different type of policy. Also, policies can be hard to come by until homes are brought up to date. Don’t risk your financial future by buying a home without proper insurance – especially if you intend to finance a portion of the price.

4. Understand building codes and update requirements. Major renovations to a Tampa home or property often result in the need to bring the home up to date on current building codes; common examples include updated wiring, plumbing or structural considerations.

5. Financing can be tricky. Make sure you have the cash reserves required to finish the job. It’s also a good idea to understand what is and isn’t possible when financing a fixer-upper; Tampa mortgage brokers are likely to require larger down payments on homes in need of extensive repairs.

6. Taxes, Taxes, Taxes. Capital Gains can take a big bite so understand your situation. Crunch the numbers to see what works best for your individual situation; some investors find holding a property for 1 year and 1 day makes more sense in the long run than selling right away while others find a 1031 exchange to be the best route. Each situation is different so do the math.

Whether you are looking for foreclosures or bank owned homes we can assist you with all your needs. Please give us a call today.

Tampa Foreclosures – Tips and Advice

July 8, 2008 by Lance Mohr

image of foreclosure sign When it comes to purchasing a foreclosure in Tampa Bay what you don’t know can hurt your investment portfolio. Learn how to evaluate profitable foreclosures with these simple steps.

1. Alternative Measures. Price alone isn’t always the best indicator of value when it comes to foreclosures. In fact, price is one of the least reliable indicators of value since the original cost of the home could have been inflated or may not represent the current value of the home. Instead, use an alternative measure of value. Some of the more common measures include:
• Rental Rates. What would the house rent for if it were placed on the market? If the cost of mortgage, taxes, insurance and other anticipated expenses is less than, or equal to, the current rental rate then it indicates a solid basis.
• Replacement Cost. Another common measure includes the replacement cost of the home if it were to be built new. Calculate the cost of land, impact fees, labor and materials to derive the estimated replacement cost of the home. Tampa foreclosures listed at, or below, the current replacement cost of the home and land indicate a solid purchase price.
• Return on Investment. Calculate a conservative return on investment by taking the combined levels of appreciation, depreciation (minus recapture) and tax deductions into account as compared to your total investment then compare against “safe” alternatives such as Treasury Bonds.

2. Future Profit Potential. The most desirable Tampa foreclosures are those which present a long term growth potential. Although many variables impact the viability of a neighborhood, the following represent a few “tried and true” measures every investor should take into account when evaluating a potential property:
• Owner Occupied versus Rental. When working with a real estate agent request information about the percentage of owner-occupied homes versus rentals in the immediate area. Typically, owner occupied neighborhoods tend to retain a higher value for a longer period of time than comparable neighborhoods with large numbers of vacancies or rental homes.
• Amenities. New schools, hospitals and shopping are always attractive options that help neighborhoods retain value over the long run.
• Durable Patterns. Affordable housing options located near major universities, public transportation, large employers and other high demand areas never go out of style.

3. Buy Right. Although buying a Tampa foreclosure might seem easy there is often more to it than meets the eye. Working with a qualified real estate agent with a proven track record of buying and selling Tampa foreclosures is the key to success.
• Experience. Intimate knowledge of the various types of foreclosure sales, bidding instructions, restrictions and other qualifications is necessary to participate in some of the best foreclosure sales opportunities. Take time to ask how many foreclosed Tampa homes the agent has sold in the past.
• Education. Every foreclosure program has unique rules, regulations and oversight governing the dispersion and sale of the foreclosed property; make sure your agent routinely works with foreclosures in Tampa in order to reduce the risk of losing a big sale due to a technical error or paperwork glitch.
• Expertise. A real estate agent should be a lot like a partner who is able to supply the information and resources required for you to make an informed decision. Take time to ask a few tough questions before selecting an agent to determine the level of expertise exercised by the agent.

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