Wednesday, July 28, 2010

A Little Information About Us!

Summit Executive Realty is committed to working with the Shreveport and Bossier City, Louisiana community! We believe that our level of service in the Northwest Louisiana real estate market is superior because we know and love this area!

Our commitment to the idea that anytime is convenient to ask us questions and that we are here for you no matter what time of day, we feel that the home buying and home selling process can be a much more fun and exciting journey in your life. Instead of all the headaches that sometime come with buying or selling a home, we strive to make it as easy for you as possible. If we did not have to endure the hardships of the process, why would you want our services? With continuing educational seminars provided monthly and in-house to each and every agent, our REALTORS ® are among the top in the industry!

Our motto is to Go The Extra Mile and that is what we have made our mission from day one. Shreveport and Bossier City has so much to offer people, and our agents have that knowledge and expertise to show it. The real estate industry in Shreveport and Bossier City is a great privilege to be a part of. The area is beautiful and many of the homes coincide perfectly with that.

Our real estate agents love to have a good time and enjoy life, but they know how to take care of business as well. Because our agents are people centric, they are very passionate about the formation of friendships and bonds. We strive to get to know our clients and to form relationships with them so that we can make the process as pleasant as possible as well as to serve them best.

So, if you are looking for a Shreveport Home or a Bossier City home, and you would like to find an agent that will make the process fun and enjoyable, give Summit Executive Realty a call today! (318)747-3117. We will strive to go to New Heights where all of your real estate needs count - in the Shreveport, Bossier City area of Northwest Louisiana!

Little bit more information about Summit Executive Realty:

· Equal Housing Opportunity

· Member Better Business Bureau

· Member National Association of REALTORS®

· Member Bossier Chamber of Commerce

· Member Shreveport Chamber of Commerce

· Bilingual Speaking Agent(s)

· At Home with Diversity Certificate

· 24/7 Phone Answering

· Dedicated Servers

· Dedicated Property Websites

· Member Better Business Online Reliability Service

· Extensive Community Involvement

· In-house Marketing Personnel

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About the Author:

Brad Troedel is currently a Senior at Louisiana State University Shreveport. He is completing his bachelor's of Marketing in May. In January he started a marketing internship at Summit Executive Realty. Brad Specialized in the advertising and promotion aspect of marketing. Brad can be contacted at (318)747-3117.

Thursday, May 20, 2010

How to Flip Houses

"Flipping" a house consists of buying a property under market value, increasing its value in some way or another, and then selling it quickly. If done correctly, $50,000 or more can be profited in under 90 days!

1. First and foremost, you will want to get yourself familiarized with the buying process. Because the price you buy the property for determines how much profit you will make, making the right offer can make or break the deal. You can determine how much you wish to make an offer for on the property by using some simple math. Get a decent estimate of the ARV (After Repair Value) of the home then subtract all possible costs such as holding cost, buying cost, repair cost, etc. Factor in how much money you wish to profit on the property and then make the offer. Of course you want to offer a little bit less than that at first. If you are not familiar with the process, then you may want to contact a real estate agent to assist you. The process can be very tedious and complicated if you do not know the process.

You can find an expert real estate agent in the Shreveport or Bossier City area at Summit Executive Realty.

2. Use Schedules to make sure you stay on time with the property and repairs. You need to check before you finalize offers to see how long things like window installs and drywall repairs take to complete. Make completion dates part of the contract when dealing with contractors. Because holding costs (loan payments, utilities, and insurances costs) can rack up, it is best to have a general time frame scheduled that you stick with!

3. Fix things in order of importance is extremely important when it comes to "flipping" houses. Repair costs rarely cost what you expect which means going over budget can happen very quickly. By fixing the things that potential buyers will most likely see first, running out of money for the other repairs will not be as devastating because the "eye sores" will already have been fixed. A hypothetical situation of this could be going $5,000 over budget on the first repair leads to the owners having to put the home up for sale with a less than appealing looking front yard and stains still on the front wall; the things buyers will see first.

4. Determine best ROI (return on investment) repairs. The idea of "flipping" houses is to generate a large profit in a short period of time. To do this, you must fix the things that bring the greatest profit back. Of course, certain ROI - Repairs vary by area, but the common ones are things such as painting, carpeting, landscaping, and the other typical cosmetic repairs.

5. Fix it for Target Market. You want to figure out what type of buyer will be interested in you property. Once you figure out the type of buyer you will be targeting, you will want to fix the home with them in mind. Doing such things as marketing the home as "close to shopping malls" would not be ideal if the home is situated in the middle of a neighborhood with a majority of retirees. A better choice would be "Secluded Home".

6. Stage the Home just like you would if you were selling your own home. Dress it up so potential buyers will be interested. You may even think about bringing in some furniture because the home will look more appealing to buyers if they can actually visualize themselves living there. An empty space is not as aesthetically pleasing to people.

7. Price the Property Right is an extremely important part of "flipping" homes. Because you want to sell the property quickly, having a price that is too high can cause you to to pay more and more holding costs.

8. Profit the money and take a vacation! Also, make sure you report the profit to the IRS, because an unreported profit could really make for a painful audit later on!

To learn more about Real Estate in Shreveport, Bossier City and surrounding areas, please visit today! The road to profit from "flipping" houses can be achieved by you today!

These steps are provided only as tips, and are in no way subject to the only way of "flipping" homes. There is no single method to doing so, thus the statement above in whole is provided solely for viewing pleasure.

About the Author:

Brad Troedel is currently a Senior at Louisiana State University Shreveport. He is completing his bachelor's of Marketing in May. In January he started a marketing internship at Summit Executive Realty. Brad Specialized in the advertising and promotion aspect of marketing. Brad can be contacted at (318)747-3117.

Thursday, March 25, 2010

Do you Really Need a Realtor® when Building a Home?

So you are having a new home built. Maybe it is your first, maybe not. If you ask the question, "Do I really need an agent when having a new home built?", most will tell you "no". However, this can actually be a mistake. Many problems can arise without the help of a Realtor® there to assist you along the way.

For starters, a Realtor® can make sure that the price of the house is accurate. What do I mean by this? Well, a Realtor® will make sure to stay in constant contact with builders about special promotions and other deals that they are currently having. Now, if a buyer goes and negotiates with a builder and the builder quotes a high price, the agent knows about the promotion which would drastically lower the price. If the Realtor® is not there then the buyer would potentially overpay.

Contract Negotiation is another aspect of new home building that a Realtor® can help you with. It is important to understand that the sales agent is there to assist the builder, which means that they will possibly negotiate the contract in the interest of the builder. However, if you hire a Realtor®, they will negotiate the contract in the interest of you! There are several things that the Realtor® will negotiate. These include:
  • Sales Price
  • Earnest Money Deposit
  • Down Payment Assistance
  • Financing Option
  • Many others...
Mistakes are another aspect that a Realtor® can help with. Because we are all human, mistakes happen. Putting the wrong counter tops in for instance. A Realtor® is there to monitor the building progress and to make sure all the right options for your home are there.

Incorrect paperwork can be a big issue that a Realtor® can assist with. A Realtor® will know what paperwork is required at closing. Say for example, you had your final price lowered from what it started out being. At closing, the paperwork that was brought forth was the old documents with the higher price on it. However, no one could find the new paperwork. The only person that would have it, is your Realtor® because they are there to assist you in the process.

-The information above is summarized from the original article written by Hub Spot, "Building a Home - Do you Really Need a Realtor?".
The information herein is the rightful use of Hub Spot. The original article can be found here.

As you can see, there are many things that a Realtor® can do to help you in the process of having a new home built. Not only is it beneficial to you, but generally at no cost to you. Because the builder generally will recognize any compensation given to the Realtor® as a marketing fee, there will be no increase in the final home price or a cost to you. Builders also will encourage the use of a Realtor® when building a home.

For more information about what a Realtor® can do for you, visit Summit Executive Realty!

Licensed in Louisiana

by Brad Troedel - Marketing Intern

About the Author: Brad Troedel is currently a Senior at Louisiana State University Shreveport. He is completing his bachelor's of Marketing in May. In January he started a marketing internship at Summit Executive Realty. Brad Specialized in the advertising and promotion aspect of marketing.