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How an Agent Can Help You Purchase a FSBO

How an Agent Can Help You Purchase a FSBO in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

For sale by owner homes are very a very attractive deal for buyers who are on a tight budget and want to save some money. However an FSBO transaction can present many complications for the buyer and hence it becomes imperative that the buyer employ a real estate professional who understands the nuances and handles them well. Here is a brief overview on how a real estate agent in Des Moines can help you with an FSBO purchase in Des Moines.

Detecting overpricing in FSBO transactions

FSBO homes in Des Moines are often overpriced. If you as a buyer are not represented by a real estate agent specializing in Des Moines you will end up paying much more that the home and its location justifies. A real estate agent specializing in Des Moines will be able to detect overpricing quickly as he is in touch with local market conditions and average prices prevailing in different neighborhoods.

Price Negotiations

In case of FSBO homes the sellers’ main aim is to save money on real estate agent’s costs and so they don’t employ one. These sellers also never show any flexibility about the price. If you have a seasoned real estate professional specializing in Des Moines by your side when you set out to buy an FSBO home in Des Moines the agent will help conduct price negotiations and land you with some savings.

Assisting in finding property details and document work

A buyer should employ a real estate agent specializing in Des Moines so that he can know about all property details including precise information on area of the house, property boundaries and any blips in the property and home. These may not be revealed by the seller accurately either out of ignorance or intentionally.

The seller and buyer may not know about all the documents that need to be prepared and signed to complete the sale transaction. By employing a real estate professional the buyer actually ensures that all FSBO home purchase paperwork is done accurately and correctly.

This will save the buyer from legal issues and law suits later on. It also saves the time of the buyer and the seller. Most agents are willing to work with the buyer at low flat rates decided in advance or for a low commission of 3% which can be structured into the mortgage. This compensation motivates them to do the best research and negotiation for the buyer. The agents’ compensation at the same time remains affordable for the buyer.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to  everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

House Flipping Boot Camp – Learn the In’s and Out’s of Flipping Houses

Des Moines House Flipping Boot Camp – Learn the In’s and Out’s of Flipping Houses in Des Moines with Des Moines Real Estate Experts RE/MAX Real Estate Concepts

If you are anything like millions of Americans you have probably caught countless shows on cable television that boast the serious profits that can be made by flipping houses. This is a very true statement, serious money can be made when one goes about flipping houses in Des Moines the correct way, however, serious money can be much more easily lost when a house flip in Des Moines goes wrong. If you are hoping to find your way to fortune through real estate investing you need to pull yourself up by the bootstraps and understand a few Des Moines house flip basics.

The first thing you need to understand is that the ultimate goal in a Des Moines house flipping venture such as this is to make as much money as possible in as little time as possible. This means several things to the wise investor not the least of which is that you must always have a complete inspection performed before you make any sort of financial commitment to the house. A good inspection can help you identify work that must be done, whether or not there is any structural damage, or whether there are any unexpected problems such as signs of termites or water damage behind the walls.

These are very important things to know and should have a significant impact on your offer on the Des Moines property as they will have a direct effect on how much you will need to invest in making the property sellable and whether or not the property will even be profitable when you consider how much money will be needed to get it in minimal selling condition and how much you can reasonably expect to sell the house for after that.

Once you have the inspection done it is a good idea to take into account all the things that will need to be done to improve the property and the things that must be done in order to get the property in sellable condition along with permits that are needed, inspections that are needed, and jobs that require licensed contractors in order to meet local Des Moines code requirements. Each of these will take a significant amount of investment in order to accomplish and that should also reflect in your offering price.

Far too few would be house flippers in Des Moines manage to take in the big picture when making plans and this is where they end up missing out on the bigger profits that can be made by successfully flipping houses for the lowest possible investment with the highest possible return on their investments. When making your plans you will want to go with changes that are cost effective.

Avoid making significant structural changes to the house in Des Moines unless you have a licensed contractor sign off on the wisdom and safety of those changes, as they can be very costly as well as dangerous to the stability of the property. At the same time you should salvage as much as possible within the existing structure. Flooring and paint are almost always required in a house flip but you do not always need new cabinets in the kitchen or bathroom fixtures. Chances are new doors and hardware in the kitchen would be a great fix for drab and tired cabinetry while greatly impacting the overall look of the kitchen without robbing you of some serious profits (doors cost significantly less than making new cabinets and can add the appearance of custom cabinetry).

The biggest idea to walk away from my Des Moines house flipping boot camp with is the idea that the most visual impact you can have on the home for the least amount of money the better. In other words you don’t want to purchase a home in Des Moines that needs new heating or air conditioning as they are not visual changes and are quite expensive. Find a house to flip that needs minor cosmetic repairs and a little dose of style and imagination and you will be able to maximize your profit. That is what real estate investing in Des Moines is all about after all.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Getting a Home: Advantages and Disadvantages of Adjustable Rate Mortgages.

Getting a Home in Des Moines: Advantages and Disadvantages of Adjustable Rate Mortgages, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

When any one talks about getting a home, they talk about interest rates. Getting a home in Des Moines is definitely no exception to this rule. Most people want the lowest interest rate they can find when getting a mortgage, and if they find one that is very low, that’s all they will be able to talk about for months. Over the dinner table, the main conversation will usually be about how low the interest rate is on the house. Lenders know that the interest rate is a hot topic amongst consumers. That’s why there are adjustable rate mortgages and fixed rate mortgages. Both types of mortgages are very attractive for borrowers, but here is more of an explanation on adjustable rate mortgages.

Early on, adjustable rate mortgages feature lower rates and payments for the term of the loan. Because lenders use this lower rate when seeing if borrowers qualify for a loan, borrowers are typically able to buy larger homes that they normally would not qualify for.

Also, if the borrower does not plan on staying in a particular home for a very long time, getting an adjustable rate loan is a cheap and flexible option. Furthermore, people who take out adjustable rate loans don’t have to refinance the loan to get a lower rate. They don’t have to pay an entirely new set of fees or closing costs to get a rate that is lower. Instead, borrowers simply watch their rates fall. As the rates fall, so do their monthly payments. One can see why getting a home in Des Moines might be very affordable with an adjustable rate loan.

However there are some disadvantages to getting this type of loan that cannot be ignored. For instance, with an adjustable rate mortgage, rates can increase dramatically over the life of the loan. If rates rise sharply, the borrower may be quite surprised at how high the interest jumps. This may not be good because often times when the economy begins to go sour, home interest rates are the first things that start to go up.

Adjustable rate mortgages sometimes are not always that easy to understand. This means it’s can be easy for borrowers to be mislead or get trapped by lenders who are a little on the shady side. Sometimes the borrower will end up owing even more money than they did at the time of closing. This can happen with what is called a negative amortization loan. In this type of set up, the payments are set to be so low that they only cover a part of the interest. Whatever is unpaid is then just rolled over to the principal amount.

Even though there are some disadvantages when it comes to getting an adjustable rate mortgage, you shouldn’t let that discourage you from looking at this option. Choosing a home in the Des Moines real estate market will most likely require that you consider all your options very carefully. Also, just like there are disadvantages to getting an adjustable rate mortgage, there are disadvantages to getting a fixed rate mortgage as well. Actually your best bet in either case is to enlist the help of a professional.

 For  everything Des Moines real estate visit us at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Buying a home: Advantages and Disadvantages of Fixed Rate Mortgages

Buying a home in Des Moines: Advantages and Disadvantages of Fixed Rate Mortgages, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

Most people will tell you that when they consider buying a home, it’ll be all about the interest rate, and that’s very understandable. Over the life of the loan, the interest rate can have a big impact on how much money the borrower ends up paying. Home loans should definitely be looked at over the long term, and if you are considering buying a home in Des Moines, you are probably thinking very hard about what interest rate you’ll end up paying. Homes in the Des Moines real estate market are simply wonderful, and most people want a home in Des Moines at a price they can afford in the long fun. Thinking about interest rates means thinking about both fixed and adjustable rate mortgages. These are the two most common types of mortgages lenders give to people. For now, let’s discuss the advantages and disadvantages of fixed rate mortgages.

In a fixed rated mortgage, rates and payments remain the same. They stay constant in times of both economic thriving and downfall. The rates or payments will not even be affected by inflation. There are no surprises with these types of mortgages.

Furthermore, a fixed rate mortgage will probably make it much easier for you to handle your finances over all. Budgeting will simply be a breeze, and that’s because payments on your house will always be the same.

These types of loans are great for first time homebuyers who may otherwise get easily confused by mortgage lenders trying to sell them another type of loan. There’s all types of confusing jargon that comes along with adjustable rate mortgages. However, a fixed rate mortgage is very easy to understand. Borrowers can’t really be easily fooled or tricked by any unscrupulous lenders. And since payments and rates remain the same, a fixed rate mortgage will always be easier to understand.

As far as disadvantages go, there are a few for fixed rate mortgages. However, buying a home in Des Moines is well worth considering all loan options, no matter what the disadvantages are. Should rates fall, with a fixed rate mortgage, borrowers must refinance in order to take advantage of the lower rates. They will have to pay some thousands of dollars in closing costs again. They will have to go the title company’s office again, and they will have to get out all of the documentation again.

Oftentimes fixed rate mortgages are so expensive that borrowers cannot afford them. This is especially true when rates on average are very high. Furthermore, it is very difficult if not nearly impossible to personalize these loans for an individual. Fixed rate mortgages are typically identical across the board for each lender.

However, even with some of these disadvantages, many people find that getting a fixed rate mortgage is the right choice for them. If you really have your heart set on getting a home in Des Moines, you won’t let any disadvantages deter you.

Generally, your best bet is to get advice from a professional agent who can walk you through the home buying process. For more help about the Des Moines real estate market and everything Des Moines real estate visit us at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Best Way to Start Searching for a Home

Best Way to Start Searching for a Home in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

Searching for your dream home can be a daunting task because you may not find one that meets your unique and specific requirements. Adequate efforts must be invested in searching for a house so that you do not make disastrous and costly mistakes. Here are some of the best ways to start searching for a home in Des Moines.

Tip # 1- It is highly improbable that you will get a home that meets all your requirements at a price that fits your budget. Your home should meet your current and future necessities. So if you narrow down your most vital wants from your home, your Des Moines real estate agent would find it easier to find the appropriate home at an affordable price range more quickly. Always stick to your budget.

Tip# 2- Make your home financing arrangements ready before you start your search for a home. You must obtain a pre-approval of mortgage from the bank. This will save you a lot of time and hassle that will be involved in hunting for funds when you find your home. Understand and orient yourself to the mortgage process.

Tip # 3- Don’t ever buy a home without visiting its site. You must pick a home that has a convenient location with schools, collages, shops and hospitals nearby. Inspecting the location of the home before buying it is important as location decides the price of the home. Often the home in itself may be attractive but its neighborhood may not be up to the mark.

Tip # 4- Opting for the services of a real estate agent specializing in [Profile.market] is ideal as he can help you stay updated on the newest home listings on the market each day. This will prevent you from missing out on great homes priced affordably, which usually get sold out within hours of listing.

A real estate agent specializing in Des Moines area will be of great help in determining if the prices quoted for a home in a particular location are reasonable. A real estate agent will also help you greatly in transactions where you are buying a home from a previous owner. These homes sold by the owner may not be a good deal and a lot of care and caution has to be exercised while purchasing them. A real estate professional can save you from making great follies in these transactions.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Marquis Builders

To find out more information about Marquis Builders call 515.276.2872

Welcome Home to Marquis Builders. The owner and general contractor Nate Miller has been involved in construction since he was a Legos contractor. His passion for detail and quality construction is evident as soon as you walk in to a Marquis Home. More important is his love of people and pride he takes in building lasting, meaningful relationships with his homeowners and clients by focusing on core values that are the building blocks for his company.

A person’s character is defined by their actions and Marquis Builders only work with vendors of high character and integrity to assure you a positive long term commitment and relationship.  It is his goal to help you achieve your dreams by putting them on paper and walking together through the process of making them a reality.

The most important thing to Nate is his family and he knows that you share that same value. It is this core value that helps him focus on building only quality homes with amenities that ensure you and your family a lifetime of fulfillment in your home. The Marquis family ensures only quality that they would expect for their own families.

A man of faith, Nate understands that you put your faith in him to provide a finished product that you have dreamed about. His aim is to gain and keep your confidence throughout the process and beyond.

A quality that Nate has always and will always strive for in every Marquis project as is evident in all of the projects Marquis has been associated with.

When choosing a name for his company Nate wanted something that would be synonymous with the above core values. An award winning company, Marquis Builders continues to live up to that name.

Read the full article

Where to Get Money for Investing in Property

Where to Get Money for Investing in Des Moines Property – By Des Moines Real Estate Experts RE/MAX Real Estate Concepts

Beginning investors often times don’t have the money or expertise to find the money they need to invest in properties they find. Fortunately, there are many sources of money for good investment deals. Where can you find these sources? Here we’ll cover some of the more popular sources of funding for real estate deals in Des Moines.

Hard Money Lenders – Hard money loans are short term loans with very high interest rates and upfront points. You can expect to pay as much as 3%-10% in upfront costs to secure a hard money loan. However, for short term projects, these can be a great source of cash.

Angel Investors – If you truly have a winner deal on your hand, other experienced investors may be willing to lend you money in exchange for part of the profits. It helps to join real estate investing groups and make contacts so that you can find angel investors.

Non-Owner Occupied Loans – These are loans from traditional lending institutions that work similarly to residential loans. They look at your credit and debt to income ratio to determine if you qualify for the loan. NOO loans apply to investment properties of 4 units or less. Be aware that tax laws for NOOs differ from a standard mortgage loan.

Commercial Property Loan – These are loans from traditional lending institutions that work very differently than a mortgage. These loans are based completely on the property and your credit rating is not taken into consideration at all. The primary consideration is whether or not the property can pay for the loan, your character as an investor and the value and liquidity of the collateral.

Seller Financing – Seller financing is basically when you have the seller finance the property rather than have a bank finance the property. Seller financing is negotiated on a case by case basis.

As you can see, there are many different ways to finance an investment property. If the deal is truly a good deal, there should be no shortage of options for you. After all, investors are out to make money.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

What You Need to Know About Getting a Real Estate Investing Loan

What You Need to Know About Getting a Real Estate Investing Loan in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

Getting a real estate investing loan is quite different than getting a residential property loan. This is especially the case with commercial property loans. How can you apply for and qualify for an investing property loan? Read on to find out.

There are two types of investing loans. There are Non-Owner Occupied (NOO) loans which apply to real estate purchases of 4 units or less. With a NOO loan, the loan process is pretty similar to that of a residential loan. The most important factors are your credit score, Debt to Income ratio, etc.

The second type of loan is the commercial real estate investing loan. This type of loan applies to any loan for buildings with more than 4 units. The process for getting approved for these loans is completely different.

First off, your personal credit as an investor has very little bearing on a commercial property loan. Even someone with poor credit can qualify for a commercial property loan if the rest of the numbers look right. Often time’s lenders won’t even pull your credit report.

When considering a commercial property loan, lenders rely much more heavily on the “Three C’s of Credit.” These are:

Character – What is your investing history? How reliable are you to repay the loan?

Capacity – Rather than looking at your personal income, the primary factor will be the income of the commercial property. How does the income from the property look, can it pay for the loan and then some?

Collateral – Finally, if you should default on the loan, how difficult will it be for the lender to get their money back? What is your property worth on the open market or at auction? How easy or difficult is it to liquidate the property?

If you can prepare a good case for your loan with the Three C’s in mind, you’re very likely to get your commercial loan approved.

You now know about the two types of real estate investing loans, the difference between the two and how to qualify for each type of loan.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

What Repairs to Make, and What Repairs to Ignore Before Selling Your Property

What Repairs to Make, and What Repairs to Ignore Before Selling Your Property in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

Repairs can be a big question mark for sellers. On one hand, you’ve probably heard that you should make repairs before you sell your home. On the other hand, it may be unclear which repairs you need to make and which ones you shouldn’t make. Which repairs will give a positive ROI and which ones won’t? To learn what repairs you should make and what repairs you shouldn’t, read on.

The most important repairs are water repairs, heating repairs and electrical repairs. Not making these repairs will prevent your home from selling, period. If the water doesn’t run, if the electrical system isn’t safe or if the heating system is about to break, most buyers will simply stay away.

That said, what other repairs should you make on your Des Moines home?

First off, cosmetic repairs are cheap and have a big impact on the perceived value of your home. For example, is there a small hole in the wall? It’s easy to fill and repaint. Do the hinges in your cabinet squeak? It’s easy to spray a little bit of WD-40. Is there a gash in the window screen? It’s cheap to replace the screen and can have a big impact on your sale price.

Making cosmetic repairs arguably has the biggest impact on your bottom line.

One area you should pay special attention to is your front yard and your doorway. This is your buyer’s first impression of your house and should definitely be in good shape.

Before selling your home, it’s best to avoid large renovation projects. Renovating your kitchen completely may or may not be a profitable investment. More likely than not, you’ll end up spending thousands of dollars without much return on your investment.

If you focus on repairing the essentials and the cosmetics, you’ll be well on your way to a very profitable sale.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

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