A Resource Guide to Renting Out Property in Fort Lauderdale Photo via Pixabay
If you own property in Fort Lauderdale that isn’t being used or if you’ve always dreamed of renting out a vacation home in order to earn money throughout the year, there’s no time like the present! Many Americans are ready to invest in their futures, and a great way to do that is to turn a house into a moneymaker. After you’ve found your perfect Fort Lauderdale property with the help of Eileen Kedersha with Sotheby’s International Realty, there are a few things you’ll need to get started, such as resources for finding renters or for getting the property into shape. This guide will allow you to do the job right the first time.
Resources to get started
Prep an existing house for renters
Top 16 Internet Providers in Fort Lauderdale
Photo Credit: Pexels Article written by Brittany Fisher: Financiallywell.info
When is it Time to Sell Your Home and Move to Assisted Living?
No caregiver wants to admit they’re in over their head. However, for many of us there comes a time when we can no longer give our loved ones the care they need. Whether they’ve been living on their own and it’s becoming dangerous, or they’ve been living with you and their needs are too much, assisted living can be a loving solution. This is a big and often difficult choice. Here are a few solid signs that your loved one needs the kind of full-time, professional care they’ll get in an assisted living facility:
If your loved one needs daily medications, it’s important that they take their prescribed dose at the right time every day. However, memory problems can lead to missed doses, or even accidentally taking meds twice, which can quickly become very dangerous and even lead to hospitalization. In assisted living, the medical staff manage medications for the seniors they serve, eliminating the risk of missing vital doses or accidentally taking too much.
Becoming Accident-Prone Continue reading “When is it Time to Sell Your Home and Move to Assisted Living?”
The Ins and Outs of Investing in a Vacation Rental
Investing in a vacation rental home has gained a lot of popularity over the last few years. Vacation rentals are an alternative to hotels that are generally rented out between a couple of days to a month. Due to increased activity of using the internet and social media to find vacation lodging, opportunities have opened for real estate investors. If you are interested in investing in a vacation property, get in touch with broker associate Eileen Kedersha of ONE Sotheby’s International Realty, and look to the below information to help get you started.
When considering where to buy a second home, you’ll want to find a place that will attract guests more than a couple of months out of the year. For instance, vacationers are drawn to Fort Lauderdale for a variety of reasons, according to Turnkey, including easy access to the beach or inland waterways. A waterfront condo or townhouse are a hot commodity and should be relatively easy to rent out.
Find a vacation rental that can start out as a dual-use property. This means a vacation rental where you can stay for a portion of the year and rent to guests for the rest. Not only will you get the tax benefits for the time you’re using it, but the house will be continuously occupied. Continue reading “The Ins and Outs of Investing in a Vacation Rental”
Cheaper home prices and lower mortgage rates are luring more Floridians back into the housing market, but the same story isn’t playing out nationally.
Florida’s existing home sales rose 24 percent last month, the fifth consecutive month to show an increase in activity, according to the Florida Association of Realtors.
Nationwide, however, sales of existing homes fell 5.3 percent in January to their lowest levels in nearly 12 years.
In Florida 8,450 existing homes sold, up 24 percent from the 6,810 homes sold in January 2008, according to FAR.
“Many people are looking at today’s market and seeing opportunities to find the home or business they’ve always wanted,” FAR President Cynthia Shelton said.
What’s good news for buyers is bad for sellers, as foreclosures continue to depress home values.
The statewide median sales price for existing homes last month was $139,500, down 33 percent from last year, when the median sales price was $206,900.
Condos also are selling, with FAR reporting a 13 percent statewide gain to 2,556 units sold, up nearly 13 percent from 2,266 sold in January 2008. The existing condo median sales price last month was $113,400, down 40 percent from last January, when it was $190,200.
Fort Lauderdale saw home sales soar 52 percent in January, to 467 from 307 a year ago. Values continue their downward spiral, with the median price at $191,000, down 39 percent from last January’s median price of $314,200.
Condo sales in Fort Lauderdale were up 29 percent, to 531 units from 411, but median prices were nearly halved to $85,000 from $153,000 a year ago.
Miami reported a 47 percent hike in the number of existing home sales, to 407 from 276. The median price, however, fell 38 percent, to $208,100 from $336,800.
Miami condo sales were up 27 percent, to 379 units from 298. The median price fell 48 percent, to $149,100 from $284,000.
Activity wasn’t as upbeat in West Palm Beach, where January sales were up just 11 percent to 408 homes sold from 369 a year ago. Median prices were down 32 percent, to $232,100 from $343,200.
Condo sales were up 24 percent, to 375 units from 303. The median sales price was down 31 percent, to $108,900 from $157,700.
The national median sales price for existing single-family homes in December 2008 was $174,700, down 14.8 percent from a year earlier, according to National Association of Realtors.
“It appears some buyers are taking advantage of much lower home prices,” NAR Chief Economist Lawrence Yun said. “The higher monthly sales gain and falling inventory are steps in the right direction, but buyers will continue to have an edge over sellers for the foreseeable future.”