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John Murdock -- CityScapeMetroGroup | CityScape News Blog

Tuesday, June 6, 2017   /   by John Murdock -- CityScapeMetroGroup

How To Tell If a Home Is Flip Worthy

It seems like just about everyone these days fantasizes about how to flip a house. The reality? Doing it successfully largely hinges on picking the right place at the right time—which is why veteran flippers keep a mental checklist to help steer them toward homes that are primed to gush cash.
Curious about those signs that indicate all systems go? Let's check out those qualities deemed by real estate investors as signs a house flip will pay off big-time.

Sign No. 1: It's in a neighborhood where homes sell fast

One of the first clues that a house is flip-worthy is that it's in an area where homes sell quickly, says Larry Friedman of SDF Capital in New York and Connecticut. After all, in this game time is money—every extra month you own the house means you're on the hook for more mortgage payments and maintenance costs. Fast-moving markets generally mean these overheads won't last long.
Realtor.com data show tha ...

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Monday, June 5, 2017   /   by John Murdock -- CityScapeMetroGroup

What is a Lien???

One of the most common conditions that can slow down a real estate transaction is known as a lien. So what exactly is a lien? In general, it's a legal notice that's put on file as a consequence of an unpaid debt. When creditors want you to know they mean business, they may choose to take legal action by placing a lien on your biggest asset, your home.
A lien, or debt, can feel like a huge black spot on your record, but there's no need to panic. In the real estate world, they're much more common than most buyers and sellers realize. Read on for your must-know guide to resolving the issue and moving forward with the sale.

What is a lien?

"A lien usually comes from either unpaid taxes, a judgment made in court, or from unpaid bills," explains Jocelyn Nager, a lawyer who specializes in debt collection.
Liens filed against a property could include things like missed mortgage payments or any payments owed to contractors for work done on the home.

Types of ...

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Monday, June 5, 2017   /   by John Murdock -- CityScapeMetroGroup

I Submitted an Offer on a Home...Now what?!

Making an offer on a house—much like a marriage proposal—is equally exciting and anxiety-inducing. After spending quality time browsing listings, hitting up open houses, and obsessively fiddling with mortgage payment calculators, you've finally found the house you want to spend the rest of your life with. You and your real estate agent put together your offer, aiming for the perfect dollar amount and closing terms. Maybe you even included an offer letter to show you're really committed. Your agent submits the offer, but what can you expect next?

"Once you submit an offer, one of three things can happen," says Kevin Kieffer, a real estate agent in Danville, CA. "Your offer is accepted, your offer is rejected, or the seller counters your offer." OK, so then what?

If your offer is flat-out rejected

The seller might decide the amount you're willing to pay is lower than what she's willing to accept. If this happens 7 ...

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Thursday, June 1, 2017   /   by John Murdock -- CityScapeMetroGroup

What to Look for When Finding a Contractor

A successful home renovation is contingent upon many factors, but none is more important than finding a reliable contractor. The person you hire should be able to do a stellar job without running way over your budget or delaying the project. So what's the best way to locate someone to tackle your remodel the right way? We went straight to the source(s) and spoke with contractors, builders, and other real estate pros to get their unbiased opinion on how to find a contractor that's perfect for you. Here are some basic steps they recommend for all homeowners.
Step No. 1: Get a referral from people (and websites) you trust

It's not uncommon to ask a friend or relative for the name of a good contractor, but you should also look to a trusted professional for their honest referral.
"If your real estate agent, attorney, or CPA recommends a contractor to you, they're putting their own reputation on the line," says Jesse Johnston&n7 ...

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Wednesday, May 10, 2017   /   by John Murdock -- CityScapeMetroGroup

6 Apartment Upgrades to Avoid!

When you move into a place, it's normal to want to make it your own, by hanging pictures or even painting an accent wall cherry red. But when you're renting, you'd best remember: Any changes you make may be reversed by your landlord once you move out and with your money. That's why renters have to walk a fine line between making themselves feel at home and making changes that will cost them their security deposit.
"If you decide to paint the walls while you are there, you must return them to their original color or the landlord is within their rights to use the deposit to pay for it themselves," says Trent Zachmann of Renters Warehouse. He explains that many landlords treat modifications or improvements and accidental damages the same when it comes to taking money from your security deposit. "An owner can withhold all or part of the deposit to correct either type of issue," he says.
But all is not lost: Sometimes modifications can be made with the owner'7 ...

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