Making a Rental Property Profitable

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Two of our clients outside of their brand new condo that they decided to use as a rental property.

Are you thinking of taking the plunge into owning an income property?  We’ve helped clients buy and sell income properties that have turned out to be very profitable for them and we can offer our insights, tips and professional advice on steps to take to make the transaction a positive, profitable one.  Take a look at this post for some initial tips.   There are definitely costs that could tank your investment on a rental property and that’s what we want to avoid.  Check out this post for the 3 hidden costs that can tank rental property profits.    Then, come find out about what investment properties are currently on the market and talk to us because we may give you out of the box ideas as to how your purchase could become a rental property.

Hump Day Love: The Wharf at Madison Beach Hotel

With this snowy Spring, it’s likely that you’re looking for a little fresh air and something that reminds you that it truly is Spring and Summer is just around the corner.  Well, we’ve got the perfect spot for you.  The Wharf Restaurant at the Madison Beach Hotel is the perfect getaway.  If you’re looking for a relaxing lunch getaway with friends, a romantic dinner with a significant other, a spot for a drink with clients, or just want to try a new restaurant then The Wharf at Madison Beach Hotel is for you!  Located in Madison, CT, your meals and drinks will be complimented with views of the Long Island Sound as is it

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My Family and I enjoying our lunch at The Wharf at Madison Beach Hotel

right on the beach.  Whether you’re sitting in the dining room, enjoying the fresh air on the porch, or sitting at the bar, your view is stunning!  My Mother, Sister, Aunt, Cousin and I topped off a very fun girls day with lunch at The Wharf.  We had meals ranging from a classic burger to salmon nicoise salad to a beautiful tuscan chicken sandwich.  All delicious!  Service was exceptional.  Wine was oh-so-satisfying and in case we haven’t mentioned it enough…the view was stunning!  This was my second time at The Wharf and it won’t be my last.  Next time, I’d like to try a romantic evening dinner and maybe even top it off with a stay at the hotel for a perfect “staycation” weekend getaway.

Interested in finding a property in Madison?  Maybe a beach house?  Search here! 

Tip Tuesday: Spring has Sprung and So Have Home Sales!

Real Estate.Happy Spring everyone!  The Spring CT Real Estate Market is gearing up, but are you ready?!  According to the Connecticut Association of Realtors, the past 3 published months of sales (January, December and November) have all reported an increase from the previous year in median sales prices and amount of homes sold for both residential single-family homes and townhouses/condos.  This represents a fantastic trend and as soon as February is published in the next few days, we’ll report it to you.  But, the question remains….what does this mean for you?

As a seller, this means….

  1. Now is a great time to sell!  
  2. Your home may sell for more than it would have a year ago.
  3. You need to get your home ready to impress buyers as they begin to pick up their buying process.

So, what should you do?  

  1. Use a price setting tool to see what your neighborhood’s market value currently is.
  2. Begin getting your home ready to sell!
  3. Contact us for a professional market analysis and assistance with getting your home show ready!

As a buyer, these statistic mean…..

  1. That there a large amount of buyers right now who are placing competitive offers so you need to be ready to put forth a strong offer.  
  2. Your offer not only needs to be competitive in terms of number but also contingencies and financing.  

So, what should you do?

  1. Get your credit ready and your pre-approval ready.  
  2. Determine what you’re searching for.  What are your must-haves and what neighborhoods are you interested in?
  3. Discuss strategy with us.  Our goal is to find your family your dream home, at a great deal and in the right location.  We want to be sure you win your home with an offer that’s competitive but also comfortable and confident for you.  So we’ll help you with referral to a lender, give you tools on finding a neighborhood, show you what your price point can get you in that neighborhood and help you to craft an offer that is strong.

 

 

 

 

Thinking of a Reno?

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Photo Credit: behance.net

Whether you’re thinking about renovating your current home or want to channel your inner Chip and Johanna Gaines to buy and renovate a fixer-upper, you’ll need the funds to do it.  There are multiple types of renovation/construction loans for you to access and every one has its pros and cons.  Read more about them here.  Then, begin searching for your fixer-upper or price compare other homes in your neighborhood to see if your neighborhood supports a renovation.  As always, we’re here to help guide you in the right direction, find your home and give you the appropriate contact for renovation loans!

Hump Day Love: Bakery at Best Market

Who doesn’t love a good, classic cake? I think its a hard thing to accomplish…a cake that please the masses.  Our kids birthday parties have ages ranging from 1-81 so getting a cake that the majority likes and that our children are excited about in terms of the design can be a challenge.  Not to mention, we’d like it to be affordable and easy to order and pick-up.  The Bakery at Best Market in Newington always accomplishes this for us.  It’s become the

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A Best Market Cake!

place we turn to for cakes.  We’ve gotten birthday cakes there for large birthday parties and a small cupcake tray for an intimate gathering.  While you’re there picking up your cake, be sure to check out their bagel cart, delicious and extensive array of pastries and have a small, complimentary coffee.  The experience is always enjoyable and the results always delicious.  For your next cake needs, head over to Best Market in Newington!

Tip Tuesday: Finding a Neighborhood You Love

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If you’re looking to branch out and buy outside of a town you’re not familiar with or moving to CT and don’t know the towns yet, it can be difficult to determine which neighborhood is right for you.  But, it is possible and we’re here to help.
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Photo credit: Mycom.net

We have 5 easy steps to choose the right neighborhood for you.

1) Talk to us:  If you let us know what kind of neighborhood qualities you’re looking for, we’d be happy to make recommendations and give you our insights.  Use the contact agent form on our website and we’ll contact you within 24 hours!
2) Website: You can also use our website or mobile web to get a sense of the area fairly quickly. By switching your search results to the interactive map view, can opt to see restaurants, shops, schools, public transportation lines, as well as neighborhood and school district boundaries; and of course, you’ll always see every available home for sale.
Once you click on a home, you’ll see information regarding how each school in that district ranks.
3) Drive and Walk: One of the greatest pieces of advice we can give clients is to drive around potential neighborhoods and do it at different times.  For example, drive to the neighborhood after getting out of work at rush hour and see how your commute would be.  Then drive by the area on a Saturday at 3pm to see how active it is or if its quiet.
4) Talk to the Neighbors: There have been times clients have seen homes they love but are uncertain because there’s a home on the street that’s run down.  We always recommend knocking on neighbors doors and asking them how they like the neighborhood.  What are their pros and cons are and if anyone is troubling on the street? It will also let you know how much people love their neighborhood. Do they stay there for years or are there high turn-overs?
5) Call the Police:  The police station will provide you with public crime records for certain neighborhoods if this is an aspect you’re concerned about.  We once had a client fall in love with a property but had concerns because they simply didn’t know the area at all.  They called the Police Station to find out how many or if any crimes had been reported in the past year in that area.  The Police were able to calm their nerves and give them honest information about the neighborhood.
A new area can be nerve-wrenching for so many reasons, but there’s no reason to go into a decision blindly.  There are many resources to help ensure that you’re finding the home of your dreams in the neighborhood of your dreams.