RE/MAX Real Estate Guide and FAQ - Questions and Answers for Real Estate Investment
RE/MAX Valley Real Estate, Boardman, Ohio

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RE/MAX Valley Real Estate

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Valley  Real Estate
1006 Boardman - Canfield Rd.
Boardman. Ohio
(330) 629-9200

RE/MAX Real Estate FAQ - Buying Your Home, Working With A Real Estate Agent

Investing In Real Estate - Questions and Answers
'Real Estate Value'


What is the difference between market value, appraised value, and assessed value?
See  Pricing Your Home To Sell

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How do you know how much your home is worth?
See  Your Mortgage - Appraisals & Market Value

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How can I improve the value of my property?
See Real Estate Guide: Owning Your Property - Improvements, How can I improve the value of my property?

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What kind of return is there on remodeling jobs?
See Real Estate Guide: Owning Your Property - Improvements, What kind of return is there on remodeling jobs?

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How do you determine the value of a troubled property?
Buyers considering a foreclosure or REO property should obtain as much information as possible from the lender, including the range of bids expected. It's also important to examine the property. If you are unable to get into a foreclosure property, check with surrounding neighbors about the property's condition.

It also is possible to do your own cost comparison through researching comparable properties recorded at local county recorder's and assessor's offices, or through Internet sites specializing in property records.

See Comparative Market Analysis

(Beware: internet or "online evaluations" as they're called, can be as much as 20% off both high and low because there is is no one there adding or subtracting value for missing amenities, property condition, and improvements. This is the type of subjective analysis that only a REALTOR can do.)

See Real Estate Guide: Selling Your Home - Appraisals and Market Value, Online Value

Book Title "What Every Real Estate Investor Needs to Know About Cash Flow ... And 36 Other Key Financial Measures"

Author: Frank Gallinelli

Publisher: McGraw-Hill (revised and expanded, 2009); 312 pages;

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Can you buy homes below market?
While a typical buyer may look at five to 10 homes before making an offer, an investor who makes bargain buys usually goes through many more. Most experts agree it takes a lot of determination to find a real "bargain." There are a number of ways to buy a bargain property:
  • Buy a fixer-upper in a transitional neighborhood, improve it and keep it or resell at a higher price   You should carefully evaluate the neighborhood by talking with your REALTOR about important factors such as infrastructure improvements, property values and safety issues.
  • Buy a foreclosure property (after doing your research carefully).
  • Because of the foreclosure crisis a relatively new phenomenon is becoming more and more common in the real estate landscape and presents yet another below market buying opportunity, the "short sale." The short sale isn't for every investor, however. For a full discussion see Real Estate Guide: Buying Your Home - The Short Sell.
  •  Buy a partial interest in a piece of real estate, such as part of a tenants-in-common partnership.
  • You plan to stay in the house long enough for the appreciation to cover your transaction costs. The costs of buying and selling a home include real estate commissions, lender fees and closing costs that can amount to more than 10 percent of the sales price.
  • Buy a leftover house in a new-home development.

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Where do I get information on housing market stats and trends?
See  "Market Data For Investors"

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