News About Properties

News about properties and real estate
August 18th, 2016

Only 1 in 8 EBR residents have flood insurance, meaning many will likely bear brunt of losses

Only about one in eight businesses and residences in East Baton Rouge Parish is covered by flood insurance, a reality that is sure to take a financial toll on those living in the vast swaths of neighborhoods that flooded during this weekend’s storms.

The figure is higher in Livingston Parish, where 22 percent of structures carried the flood policies expressly not provided by homeowner’s insurance, but is slightly lower in Tangipahoa Parish, where about 12 percent of property owners hold flood policies. In St. Helena Parish, just 1 percent of all property owners have flood insurance.

Romine-Ortega said the program is not intended to duplicate what a flood insurance policy would have provided, though the money can be used to help flood victims pay for temporary housing and replacement of household items and personal property, among other uses.

Anyone who thinks they may be eligible can register at disasterassistance.gov or (800) 621-3362.

via Only 1 in 8 EBR residents have flood insurance, meaning many will likely bear brunt of losses.

August 18th, 2016

These real estate agents cut their commissions

A new Jersey company said it’s expanding into South Florida with a service that allows home sellers to avoid “the hassle and awkwardness” of negotiating lower commissions with real estate agents.Less Percent Real Estate pairs sellers with local agents who already have agreed to accept less than the typical 6 percent commission.

Sellers can use LessPercent.com to compare multiple offers from agents bidding to sell their homes. It’s free for sellers, who remain anonymous until they select an agent.”We totally stay out of the transaction,” CEO Michael Huegel said. “It’s almost like a dating service.”

via These real estate agents cut their commissions.

August 6th, 2016

5 Tips for Investors With Limited Cash to Purchase Their First Properties

At trillions of dollars, it’s no secret that the real estate market has been one of primary resources for the world’s wealthy to to pad their accounts. But contrary to popular opinion, real estate is still a desirable asset class for entrepreneurs with smaller bank accounts.

Individuals who budget wisely and do their research can find good values. It’s important to understand where to look and to time your investment right, as well. If you can find a property in an up-and-coming neighborhood before it peaks, you can make a healthy profit. In addition, don’t be fearful. Buyers without a lot of cash make wise real estate investments every day. There are a range of smart financing options. 

Below are five tips for funding your first real estate investment, and how you can turn that investment into more cash in the future.

via 5 Tips for Investors With Limited Cash to Purchase Their First Properties.

August 6th, 2016

Landlord Nation: Boomers’ New Retirement Plan Is Millennials Paying Rent

Pete Pollinger and his wife, Julie, are relocating from Boca Raton to Melbourne, a city of about 70,000 on Florida’s Space Coast, named for its proximity to NASA rocket sites at Cape Canaveral and the Kennedy Space Center.

They weren’t just hunting for a place to live. As they get ready to move this year, they’re also looking for single-family homes they can buy, fix, and rent out.  

“We want to be more in control of our financial destiny,” said Pollinger, 51, a computer systems consultant. “As far as traditional investments go, we have less control of what really happens to those.” 

He and Julie hope to build a portfolio of about 10 homes, buying when they see good value or selling a fixed-up home when the market presents the opportunity to take a profit.

via Landlord Nation: Boomers’ New Retirement Plan Is Millennials Paying Rent.

August 6th, 2016

Tampa’s historic Mirasol apartment building sells for $10.4 million

The historic Mirasol apartment building near the entrance to Davis Islands has been sold and will continue as a multifamily rental property.

The price for the 58-room building, built in the 1920s, was $10,375,000, according to Frank Carriera, an agent for Carriera Regan of Marcus & Millichap, which represented both the buyer and seller. Carriera declined to identify the buyer, but said it is a local resident who wants to keep the property as is.

There was speculation that the Mirasol could be returned to its original use as a hotel or converted to condominiums. It became apartments in the 1950s.

The buyer plans to revitalize the interiors, exterior and amenities, Carriera said.

via Tampa’s historic Mirasol apartment building sells for $10.4 million | Tampa Bay Times.

July 26th, 2016

Keyes Co., Illustrated Properties merger makes firm the largest independently owned real estate brokerage in Florida

The Keyes Co. and Illustrated Properties announced a merger on Wednesday, in a deal that makes the combined firm the largest independently owned real estate brokerage in Florida.

“It’s really two families coming together,” said Mike Pappas, CEO of Miami-based Keyes. “We will be maximizing each other’s strengths.”

The South Florida firms said they will continue selling homes under their existing names and will blend management teams and employees. Terms were not disclosed.

No job cuts or office closings are planned, Pappas said.

“That’s not our intention,” Pappas said. “It’s all about growth.”

via Keyes Co., Illustrated Properties merger makes firm the largest independently owned real estate brokerage in Florida.

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