Do you need a special license to “sell” a business?

Selling a business is not the same as selling a property. There is a lot involved in pricing and how to handle all the other potential aspects of the transaction. The quick answer is you...http://www.realestateresource.tv

Mentor Ohio Trying To Create Its Own Downtown!

Mentor's Community and Economic Development Office is trying to transform the City's Old Village District into a pedestrian friendly downtown Mentor!
The center of this would be at the intersection of Center Street and Mentor Avenue.
Other cities such as Willoughby, Fairport Harbor, Painesville and Madison have Downtown Centers.
The Downtown areas in the cities have a proven record of attracting millenials (people born between 1980 and 2000) and empty nesters, typically baby boomers.
We all know the lure to these Downtown Centers and Mentor would like to be in position to offer these possibilities in order to keep more residents in the City. Read More, INVESTMENT OPPORTUNITY...http://www.realestateresource.tv

Determining The Value Of A Rental Property!

Many people are Investing in Real Estate and renting properties to get a better return on their money. The best way to evaluate a potential investment is by determining the Cap Rate. The Cap Rate is calculated by dividing the Net Operating Income which would be the income minus expenses (taxes, insurance, management, repairs, maintenance) by the asset cost. For example if you were to buy a rental home which had rental income of $2000 per month with $500 per month in expenses the NOI would be $1500 per month times 12 months would be $18,000. The NOI of $18,000 divided by the asset cost of $240,000 is .075 so rounding this number you would have a 7% rate. You as an investor have to decide if a 7% rate of return is what you are looking for. You also have to look at how risky the investment is. There is also a quick way to evaluate a potential investment before deciding to look at a property and that is the 1% rule. This is determined by...http://www.realestateresource.tv

REALTORS ramp up effort encouraging Congress to extend “Mortgage Forgiveness” legislation!

The National Association of Realtors needs all real estate professionals to contact their members of congress and extend the Mortgage Debt Forgiveness Tax Relief Act!

If the Act is not extended the homeowners may have to pay tax on the "phantom income" from forgiven debt. The forgiven debt is income that is not money in hand from a sale. The homeowner is upside down or under water on their mortgage. For example if you owe $200,000 on your mortgage and your home is only worth $150,000 and it sells for $150,000 there is $50,000 forgiven by Lien Holder that could be an addition to the homeowners 2014 annual tax. The homeowner did not realize the $50,000 in Income it was forgiven debt.

The Mortgage Debt Forgiveness Tax Relief Act ended in 2013 and if Congress does not work through the lame duck session and extend the Act homeowners could possibly have to...http://www.realestateresource.tv

Ohio Housing Market Comparison From September 2013 to October 2014!

In the recent findings of the Ohio Housing Market, we have found less homes on the market, list prices higher and days on market less between September 2013 and September 2014.
If you have been thinking about putting your property on the Market, why wait? We have found with my Team of Agents that ...http://www.realestateresource.tv

Become A Real Estate Agent And Start A New Career!

 Real Estate is an exciting career!

The purchase or sale of real estate is the single largest transaction that most individuals will make in their lifetime. Real estate is also one of the key factors in determining the state of an economy. As such, a real estate agent is a respected member of the community and is considered an expert on the current housing market due to their numerous activities involving the...http://www.realestateresource.tv

Generations and What They Are Doing Statistically In Regard To Real Estate!

Generations and What They Are Doing Statistically In Regard To Real Estate!Click here to read more...http://www.realestateresource.tv

Legally speaking: Can “team” members represent different sides to a transaction?

The answer to this depends on the Policy of the Broker. Many teams are set up where all team members represent all of the clients. This is reflected on the listing and other agency documents. The Consumer Guide to Agency is a good place to put the Team Policy. This document is given to both buyers and sellers to sign prior to viewing a home or listing. The Policy spells out how agency will be handled within the team.
When all team members represent all clients in the sale of a team listing, the team would be dual agents. As dual agents both team members remain neutral, cannot disclose confidential information, cannot negotiate or advocate for either party, etc.
Some Brokers allow for split agency within the team. This means that one agent on the team lists the property and represents the seller while another team member can bring in the buyer and represent the buyer. Each agent must fulfill his fiduciary duties to his respective client, which includes...http://www.realestateresource.tv

Does A Death In A Property Have To Be Disclosed?

A death in a property should be disclosed if it was a murder or suicide. This is the short answer. The Realtor must get the consent from the Seller to disclose. Murder or suicide would not be a latent defect but could be considered a material fact. For this reason it is wise to err on the side of caution and avoid a possible lawsuit.
Disclosing the issue of a murder or suicide should not be...http://www.realestateresource.tv

Living, Working and Playing at Quail Hollow a Golf Club Community!

I live in Quail Hollow and love where I live! I get up in the morning and head to the club for a work out. The Golf Club has a workout room, showers, and Pro Shop!  It is like living at a Hotel. They have everything for you right there. In the Summer months when the pool is open you do not even have to leave! You can work out, shower and then either golf or go to the pool! When you are finished you can eat something prepared by the Chef Robert Harris at the Pool or in the restaurant that is located in the same building as the Pro Shop and workout facility!  The bar area is great for watching sporting events and on gorgeous days has outdoor seating with beautiful views of the golf course!
If you want to golf talk to Ollie Karlstrom! The Clubs General Manager Karen Ruth does a great job in making sure your experience is pleasurable all the time! She also makes sure every function from golf outings to...http://www.realestateresource.tv

Don't let Divorcing Sellers Get You In Hot Water!

In the scenario you are about to read below, the Realtor needed to make sure that both Sellers going through the divorce signed the Listing Agreement. If there is a court order stating that one of the Sellers is responsible for selling the property, then the Realtor needs to receive the paperwork verifying that this is the case. The other thing that is important is that when dealing with people going through a divorce, your job is to be fair to both parties and sell the property. You are not there to take sides. The Realtor needs to be professional and handle the sale of the property. The Realtor should not get involved in talking about the divorce with either person.  This is the situation the Realtor encountered: I listed a property owned by a couple who are divorcing. I have been working with the wife exclusively, who is still living in the home. I’ve had the property in the MLS and a sign in the yard for about 10 days. I was just contacted by the husband who is demanding I take my For Sale sign down and remove the listing from the MLS because he wants to list with another brokerage. I don’t have the husband’s signature on my listing because the wife told me she had the sole authority to list the house. According to her husband that is not true. What should I do? Can he list the house with someone else without his wife’s consent? - See more at: http://ohiorealtors.org/2014/08/18/legally-speaking-dont-let-divorcing-sellers-get-you-in-hot-water/#sthash.fd9t8qgy.dpuf
Ritenour, P. (n.d.). Legally speaking: Don’t let divorcing sellers get you in hot water | Ohio Association of Realtors. Retrieved August 18, 2014.