Finding Your Dream Home
Your dream home is located in a good neighborhood where there are parks and recreation and where there are restaurants and places for shopping nearby. If you have school age children, then the school district is important. You want to live in a place where you can feel safe and where there is a sense of community. You want to know how to go about getting a loan and if you can afford your dream home. What will the down payment be? And what about the monthly mortgage, interest rate, taxes and other expenses? Sun Realty Solutions illuminates the path of homeownership for buyers like you every day. Contact us today and let us help guide you to the home of your dreams.
Price it Just Right
Now is a great time to sell a home. In a lot of areas home prices are higher than they have been in years. However, a Seller’s Market doesn’t necessarily mean that you will get top dollar for your home. There are things to consider such as your home’s condition and how it compares to other homes in its market that are similar in square footage, number of beds & baths, lot size and age. Sellers that initially price their homes unrealistically too high usually take longer to sell their property and end up accepting lower offers. To get the most for your home it is important to price the property correctly in the beginning. You may consider updates depending on your finances and the amount of value that will be added after improvements. A Sun Realty Solutions Realtor can assist you with properly valuing your home through the use of CMA’s and other professional data sources. We understand that most sellers want to get the highest value for their home while selling it in the shortest time. Contact us for assistance with pricing your home just right.
Own Your City (O.Y.C.)
Hello everyone. My name is Barry Wilson. I’m the Broker of Sun Realty Solutions. Today I am going to tell you about OYC, our Real Estate Investment Boot Camp created to teach people, especially, black people, how to take advantage of real estate opportunities around them. According to the U.S. Census Bureau in 2020 73.7% of White Americans owned their homes while only 44% of Black Americans did. According to USA Facts, real estate is the largest segment of household wealth at 24% and last year real estate transactions were projected to be over $486 billion dollars. O.Y.C. is an acronym for Own Your City, but when we examine the stats just mentioned it’s immediately obvious that blacks have not only been locked out of the American Dream of home ownership, but they have also been locked out of opportunities to create and grow wealth through smart and responsible real estate investing. O.Y.C provides some of the keys necessary to opening the doors to real estate prosperity. In the O.YC. Boot Camp you will learn how to grow and leverage your credit, how to flip homes even with little or no money and you will also learn some of the pros & cons of being a landlord. It is important to keep in mind that there are many philosophies and approaches as it pertains to real estate and investing. O.Y.C. is merely a personal perspective based on my experience as a Licensed Real Estate Broker Investor and Contractor. The O.Y.C Boot Camp was created to help the people living in the community become homeowners, shopkeepers, landlords and investors in the community in order to benefit from the real estate opportunities around them. Sign up today and start learning how to “Own Your City”. The O.Y.C Boot Camp is free, but donations are appreciated.
Amazing rehabs are something else Sun Realty Solutions is known for. Our realtors sometimes offer deals to investors who are not properly positioned to take the deal, or who do not believe in the properties potential for profit and choose to decline. If the realtor isn’t working with another investor that is positioned properly or realizes the potential in the investment the said realtor will sometimes invest in the property himself or herself. The property showcased in this post was presented to several investors that turned it down because they believed the repair cost and the time it would take to finish the rehab would be too extensive to make a decent profit. The project took 6 months to finish, and the profit was over $85,000.00. Note to the investor: you should work with an experienced realtor whose opinion you feel you can trust. For new investors an experienced realtor is one who has been in the business at least 10 years and has worn other caps in the real estate profession such as investor, landlord, contractor, loan officer, etc. Your level of trust in a realtor will most likely increase after he or she has proven themselves by performing transaction after transaction with you. An experienced realtor will know how to work with traditional loan types as well as hard money lenders and other private lending types to comfortably fund the project to the completion of the rehab and through the closing. The experienced realtor will have a network of competent contractors who display impeccable craftsmanship. The experienced realtor will have suggestions on the improvements needed to get the most return in value. An experienced realtor will be able to give an investor and indication of the price a property will most likely sell for within in 30 days (quick sale value) 90 days and 120 days. We are currently experiencing a sellers’ market and property that is priced correctly often have offers on the first day of listing. At Sun Realty Solutions we enjoy helping investors grow in the business. However, we understand that not every deal is right for every investor and sometimes this leads to an opportunity for one of our realtors to put on their investors hat to perform an amazing rehab.
Starter homes are usually smaller less expensive homes that buyers only intend to live in for a few years. There’s no set number of bedrooms or square footage. A starter home might have one bedroom, or it might have two or three. It might be 800 square feet or 1,500. Starter homes also tend to be less updated than forever homes, though this isn’t always the case — you may find a starter home with plenty of upgrades. A starter home is generally smaller than a forever home. As such, it’s a good choice for a first-time home buyer. A starter home makes for a smoother transition into homeownership. If you’re not used to making a mortgage payment, covering property taxes, or maintaining a property, then you may be better off with a smaller home rather than a larger home. Generally, you’ll know you’re buying a starter house when you can picture yourself outgrowing it in time. It is important for buyers to evaluate their induvial situations to determine if a starter home is the correct investment and step needed before purchasing a forever home.
Buying a starter home pros & cons
There are benefits to buying starter homes you should know about:
- A lower purchase price: You’ll generally spend less on a starter house than on a forever home, and that translates into a lower mortgage payment.
- Lower property taxes: The less your house is worth, the less property tax you’ll be charged.
- Less maintenance: If you’ve always been a renter and have no idea what it means to have to maintain a home, a starter home may be less overwhelming for you. And it’s apt to take up less of your time.
- Easy resale: Starter homes tend to be high in demand because they’re more affordable than forever homes. So if you decide to move after a few years or you need to move because your circumstances change, you may have a fairly easy time finding a buyer.
On the other hand, buying a starter homes has its disadvantages:
- Less room to grow: If you expand your family after buying a starter home, you may find that you’re instantly starved for space.
- More work to be done: Depending on your local housing market, you may find that the typical starter home isn’t in as good shape as the average forever home, which could translate into more work for you and costly repairs.
- It may not be your dream home: Your picture of the perfect home may not be a smaller condo or townhouse, or standalone home with limited space. And dealing with that disappointment can be challenging, even if you recognize that a starter home is a smarter financial decision.
Attention Mortgage Lenders/Asset Mangers:
We want to be your shining star. Sun Realty Solutions offers a variety of services that will brighten the prospects of your REO Assests. We have NABPOP certified realtors who specialize in BPO’s, Data Collection Reports, Evictions, Site Inspections, and of course, REO Listings. Through Sun Contracting LLC we provide lawn service, cleanouts and property rehabilitation. We know how important detailed updates and fast response times are to you as well as quality craftsmanship as it pertains to property preservation. We work with a network of resourceful real estate professionals who know the lay of the land and operate with the highest degree of integrity. Contact us today if you wish to brighten the prospects of your REO assets. We want to be your shining star.