Archive for the 'Renting' Category
Free Property Management, Especially Valuable for People Stuck with Double Mortgage Payments
November 18th, 2009
Categories: Home Selling, Investing, Renting
In today’s real estate market, more and more “accidental landlords” are emerging, as people end up with vacant homes that they can’t sell for the prices they want. Sometimes people try for months and months to get the homes sold, leaving them vacant and often with insurance lapsing, and other times they choose to rent them out.
Always looking to learn more about property management, and also looking for books to recommend to friends and clients, I just picked up a copy of The ABC’s of Property Management, by Ken McElroy.
If there were ever a book to convince you not to try to manage an extra home yourself, this is it! Full of stories of things that happen to people when they haven’t mastered the business of property management.
I discovered long ago that property management works fine if you treat it like the business that it is, but not so well if you treat it like a hobby or an afterthought. (Yes, I learned that the hard way.) Here are some handy references for those who choose to do it themselves.
And if you do it yourself, be sure to learn the Maryland state laws, as well as those of the county and city where your property is located.
Of course, it often pays to bring on a specialist. For those who’d like to team up with a professional property manager, I can make some recommendations in the Annapolis area. You need to be prepared to compensate them somehow, typically by paying a percentage of the rent. Sometimes you can negotiate a guaranteed rental payment, regardless of vacancy.
Oh, you want to know how to get it free? Some will do it for a portion of the future increase in your property’s value. Let me know if you’d like further details.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Annapolis Real Estate News Available on Facebook
November 4th, 2009
Categories: Home Buying, Home Selling, Investing, Living in Annapolis, Market Statistics, Renting
If you like Facebook, you might enjoy reading these posts there (or maybe you already are!). To get these posts and other news on Facebook, become a fan of the Carlyn Lowery Real Estate Team
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Some folks read these blog posts with their favorite RSS reader such as iGoogle, some subscribe by email, some follow me on Twitter, and some find it most convenient to discover the latest news when checking in with friends on Facebook. The formatting seems nicest here, yet some of the other delivery methods are more convenient.
I’m still experimenting with Facebook and Twitter, and would love to hear how you like to use them for both work and play.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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RENTED! 111B Academy Street, Annapolis, Maryland 21401 – Home for Rent
September 4th, 2009
Categories: Renting
Live Where It’s At – Sought-After Murray Hill!!
Featured in the Washington Post “Where We Live” series – Indeed a superb location – just steps to historic Annapolis, Spa Creek, Amos Garrett Park, Maryland Hall for the Creative Arts, and more – and also convenient to Washington, Baltimore, and BWI.
This charming home for rent at 111B Academy Street is just two blocks from the Amos Garrett Park on Spa Creek with a dock and small boat ramp ideal for kayaks. And it’s just one mile to Annapolis Main Street and Church Circle.
111 Academy Street, Annapolis, Maryland 21401
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Annapolis Real Estate Investors Cash Flow Secrets
August 30th, 2009
Categories: Home Buying, Investing, Renting
A lot of folks would like to invest in real estate in Annapolis and Anne Arundel County, and get stuck when they can’t figure out how to make the properties cash flow. The median sales price in the county year to date is $299,999, a reduction from the $325,950 that it was last year. That nearly 10% reduction sounds pretty good. But when a house typically rents for $1400-1600, it doesn’t make much difference that the prices have come down 10%, does it?
A local real estate wholesaler called me the other day. He has a couple townhomes in Brooklyn (just north of Annapolis, between Annapolis and Baltimore) available for $75,000 and $82,000. He said the need less than $20,000 in work each, and would rent for around $1150. Those numbers are a little nicer. With 20% down, he forecasts a cash-on-cash return of 31%.
Do you know someone who invests in Brooklyn Park or Brooklyn? How do they like it? I’d love to know. And if you’d like to acquire some property like this, let me know, as these kinds of deals are being made all the time right now.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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Time is Running Out for $8000 Gift from the Federal Government
July 17th, 2009
Categories: Home Buying, Renting
As you know, home buyers can claim a special tax credit worth up to $8,000. The American Recovery and Reinvestment Act offers qualifying home buyers a tax credit equal to 10 percent of a home’s purchase price, up to a maximum of $8,000. The tax credit is offered to first time buyers, and those who have not owned a principal residence in the past three years. To be eligible for the tax credit, buyers must meet general income requirements and close on their purchase before December 1, 2009.
Given that it often takes a first-time homebuyer 30-60 days to line up financing, learn about the homebuying process, and find a home, then 30-60 days for closing, time is running out!
Clients of ours are excited to be buying their first home in Galesville, Maryland, enjoying not only this $8000 tax credit but also 100% financing, including closing costs, due to a special program supported by Anne Arundel County, taking advantage of federal, State and County dollars for affordable housing.
Please contact me today for more details on these valuable programs. I look forward to helping you and your friends build your real estate portfolio.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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RENTED! 213D Victor Parkway, Annapolis, Maryland 21403 – A Wonderful Home for Sale or Rent
February 19th, 2009
Categories: Home Buying, Investing, Renting
213D Victor Parkway in popular Fairwinds, in Annapolis, Maryland, is a wonderful home with a perfect price. Just listed, and a great buy particularly for a first-time homebuyer or investor. It’s always a good time to buy a good piece of real estate, so if you know someone who is may be interested – perhaps someone who is renting and would like to own their own home, or an investor who would like to expand their portfolio, please let them know about this opportunity.
PLUS, did you hear about the BAILOUT for first-time homebuyers? If you know anyone who hasn’t owned real estate in the last three years, they can get $8,000 FREE from the US government. Yes, it is our taxpayer dollars. Let’s help our friends get some of them. Please introduce me to any friends who are RENTERS and may be eligible for this giveaway.
And please join us for the open house Sunday between 1 and 3 pm. Let me know if you can make it!
Click here for further details.
213D Victor Parkway, Annapolis, MD 21403
Fairwinds Community, Common Area, Annapolis, Maryland
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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RENTED! 3891 Greenmeadow Lane, Davidsonville, Maryland 21035 – Gorgeous Home for Rent
December 3rd, 2008
Categories: Renting
3891 Greenmeadow Lane, Davidsonville, Maryland 21035 is a gorgeous home for rent in sought-after Davidsonville, sited on a four-acre lot in Merrywood Manor.
This is a rare and wonderful opportunity to live in an established and prestigious neighborhood for a fraction of what it would cost to own! It’s a great location for commuting to Washington, DC, Fort Meade, NSA, Baltimore, Annapolis, or nearby. So if you know of someone relocating to the DC area, or looking for a rental home in the area, please get in touch.
P.S. Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland
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