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Should You rent or build your NEST EGG?

If you buy a home in Grants Pass this year it’s value in 20 years will be huge!  A modest $200,000 home today could be worth between $297,189 at 2% inflation and  $530,660 at 5%!

If you stay as a tenant, your $1221 a month rent plus renter’s insurance will go to $1814 (at 2%) to $3241 (at 5% inflation).  As a tenant your real estate NEST EGG will be zero, while as a homeowner, your equity could be as much as $437,975  as you pay down your mortgage and if vlaues go up 5%/year.

Meanwhile, the highest your mortgage, taxes and insurance payment could be $1693 if inflation is at 5%.  Why?  Your mortgage is fixed, and Oregon taxes go up no more than 3% a year, so its just the homeowner’s insurance that could see a big increase.

You not only get the satisfaction of owning your home, the financial benefit of increased equity, but an income tax benefit by being able to deduct your mortgage interest!

Why wait? Don’t buy ‘”stuff” that loses value, buy a home that grows in value!  Talk to a lender to see what loan you qualify for and what you might need to do to improve your credit score.

For more detail, click hereRent vs Buy 20 Year Projection 2016

Should you hire professional management or sell your units?

HIRE A MANAGER! If managing your property is too time consuming or causes you headaches, maybe you need professional management. I have been managing rentals for myself and our clients for nearly 40 years, and our property management department is highly regarded for keeping properties in good condition with quick turnarounds on vacancies. If you have a vacancy over two weeks, you are losing money!

Sue Clifton, Kristina Dodd and Bill Richardson make up our management team. They make sure the I’s are dotted and the T’s are crossed. I am always available as the final problem solver. Often our services end up making more money for owners than self-management; through higher rents, better collections, and quicker turnover of vacancies. If management is the way for you to go, call us.

SELL ‘EM! The market is stronger, interest rates are low, and prices for apartment units are improving as well. Is this a good time for you to sell and take profits? There are several buyers who want apartments. If it is time for you to sell, call us right away.

TAX DEFERRED EXCHANGE; you might be able sell your rentals, purchase others and defer any tax liability by using a 1031 tax deferred exchange. Your tax advisor can help you with the tax ramifications of an exchange; we’ll help you to sell your units and purchase/exchange into additional qualifying property. The law may seem complex, but the process is quite simple today. This is especially valuable if you want to “trade up” or purchase other, more valuable real estate. To learn more, call us.

IS IT TIME FOR ACTION? We’ll provide you an honest assessment of your property’s rental potential as well as a no-cost, no-obligation analysis of your property’s marketability in today’s real estate market. If you are ready, give us a call.

WHO ‘YA GONNA CALL? Naturally, we want to be your realtor, and the way for that to happen is for you to know us. You will hire us when you: A. you need a realtor, B. you feel comfortable with me and our team, and C. you know I can do the job for you. I am proud to have been named “MOST KNOWLEDGEABLE REALTOR” by the Sneak Preview (Sept. 2003), and proud of our real estate team here at CENTURY 21 J. C. Jones American Dream. I’m also proud to be part of the world’s largest, most admired real estate franchise organization, CENTURY 21! I personally have been working with buyers and sellers since 1975 and take special pride in the quality of our real estate services. One thing you’ll get from me is regular updates; I’ll tell you the truth and keep you informed! When you are ready, call me! 541 660 8598, 8 am to 10 pm

Factors affecting sale price, time on market

Factors affecting sale price, time on market

Here is an idea how you might rate the property you may be interested in buying or selling.

For sellers:

64 or above =Quick sale near full price 32 or less= Long market time,

List Price:

10% below market at Market price 5 % above market over10% above

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Motivation:

Behind in Payments Must leave area soon Will only sell if I get my price

­­­­­­­­­­­­­­­­­

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Property Condition:

Like new, immaculate Rough, needs repairs, paint, updating

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Showing condition:

clean, uncluttered Lots of clutter, off odors (pets, smoke)

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Location:

Very desireable area Bad neighborhood, surroundings

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Features:

Many desireable features Outdated, poor floor plan

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Competition:

None comparable at this price Many comparable at or below this price

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

Interest rates:

Low Moderate High, Unaffordable

10_______9_______8_______7_______6_______5_______4_______3_______2______1______0

64 + Gotta Have it! 32 – No offers, many price

Quick sale at or near (or even reductions, long time on

Above) full asking price Market, low ball offers, no sale!

Price Reductions, No sale

For Buyers

 

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Are you ready to sell your home this year?

If you’re considering selling your home in 2015, you should know that a lot has probably changed in the real estate market since you last sold. Knowing what works today will help you sell your home quickly and for top dollar.

1. Be on the Web!

If you want to get the right kind of buyer activity on your home, you need to have your listing and photos for the internet and mobile devices. A sign in the yard and ad in the paper doesn’t do the trick any more.

2. Be ready to separate your “home” from your “investment.”

Sellers commonly place a higher value on their own home because of their emotional connection. The result: no lookers, no offers, no sale. If you have no showings, the market is telling you something.

3. Don’t just test the market; list your home when you are ready for your move.

What is the market like where you will be going? Have you removed the clutter and tidied up the yard? Is everything fixed that needs it? Are you ready to price your property in line with today’s market conditions?

4. What agent/ firm will you use?

We all appreciate loyalty to past relationships, but when you are selling your most precious asset, you want the best! How is the firm’s web site? Will your agent give honest feedback and stay in touch? Does the office have connections with other firms in other communities? What kind of marketing and staging advice.

5. Make the best impression online.

Be sure to have lots and lots of photos, and satisfy yourself the a prospective buyer can find your property on the many, many web sites featuring real estate.

6. Hire the most respected and best connected real estate firm!

Naturally that’s us! Since 1975 founder John Jones has been helping our neighbors with their real estate dream. Honored as “most knowledgeable Realtor” some years ago in the local Sneak Preview Magazine, and the office honored many times for high productivity and excellence in customer service by Century 21, the most recognized and preferred name in real estate. Contact us c21jcjones@aol.com