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Thursday, September 6, 2007
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   Thursday, September 6, 2007

Home Flipping In SC
With home flipping becoming as popular as it has, interested investors and DIY'ers are forever seeking the perfect location to flip homes in. Several markets around the nation have been tapped to great success. Buyers are going totally mental having so many beautiful choices when they start looking for homes. Many of these homes that have been reno'ed for flipping have been what is referred to as "cosmetically fixed." That is that the visual aspects of the home have been improved but the calling card of a truly well done home flip is the updating of the home's vital systems that carry water and electricity to all rooms.
In an area like Charleston SC this is crucial as many of the homes here are beautiful old historic homes that have a beauty that is rare in new construction homes. A home flipper in SC needs to know their game to restore one of Charleston's famous turn of the century homes. This style of home can command huge money on the local market as people are jumping at opportunities to have a historic home with all the modern conveniences.
Once the vitals of the home are updated, that is the plumbing and electrical systems; you can simply set about the "cosmetic improvements" we spoke of earlier. In considering these things the usual culprits are floors, fixtures, appliances and paint.
Remember to budget properly for this project as the whole point is to make the fixes and sell the home as quickly as possible for as much as possible. A proper home flip can be completed in approximately 3 months so keep a keen eye on the local real estate market for fluctuations and patterns. You will want to pick up the project home for as low a price as possible and then try to time it's listing with an upswing in the market when there is a high demand for quality homes. Constant communication with your real estate agent is a great way to keep on top of what is happening in your local market.
Lee Keadle is a professional Realtor serving the Charleston real estate market. For more information on Charleston homes and properties, contact Lee today or visit www.searchforcharlestonrealestate.com


Covering The Bases: Home Buying
Buying a home is an exhilarating feeling. It can be one of life's biggest rewards. It has the potential to serve not only as your home for many years, but as the basis of your financial portfolio. as such you should never jump into a home purchase. It simply makes sense to take your time and ensure that you are getting what you are paying for. A home is a complicated conglomeration of systems that are all subject to stress, wear, and deterioration and due to this fact there are a few things that should be examined closely before purchasing any property new or old.
Homes inspections are the best way to ensure that the home you are considering buying is sound. Be careful of sellers who want to have the inspection process skipped. In skipping this process you could be buying a huge problem. There are a few things in particular that you should have the home inspector check for.

Mold & Mildew - In previous years this never seemed to be a huge issue. However in recent times it has become a hot button issue with many due to the health concerns concerned with mold. Mold is fairly insidious and can thrive in the most unlikely of places. All mold really needs is organic material like wood and a source of moisture. This is usually attributed to a leak or a crack in the home.
Plumbing - With pipes and water running through almost every wall in a home it is essential to ensure the proper working of the home's plumbing. Faulty plumbing can be costly to fix and can lead to problems with rotting, mold and other unsafe living conditions. Leaky pipes can also lead to extensive home repairs and some sellers will try to cover up water damage with new paint so be sure to have the plumbing checked.
Electrical - This is a problem that has two different sides. Older homes can have wiring that is outdated, worn or is not sufficient to handle the high power draw of modern appliances. Conversely, new home sometimes have slipshod wiring that has shorts and faults. These can all be large fire hazards and quite detrimental to a home's safety.

Always be careful when purchasing a home. After all it is the safety of you and your family that is concerned here. Have a complete home inspection done on any property you are considering and have professionals check through the various systems if necessary.
Lee Keadle is a professional Realtor serving the Charleston real estate market. For more information on Charleston homes and properties, contact Lee today or visit www.searchforcharlestonrealestate.com


Flipping Homes In Utah
Home flipping is reaching epidemic proportions in the U.S. and why not? It has consistently showed itself to be one of the safest and most profitable forms of investment available. Utah is currently undergoing a period of huge prosperity and with that has come an increased need for quality homes and condos. The art of flipping homes is something that is attainable by the average investor as opposed to other veins of money making that require huge sums of money up front. The idea is fairly simple: buy a home at a price that is lower than it's worth. Perhaps a home that needs some TLC but is still in a good area. Do the old "fixer-upper," and then sell it for a higher price and pocket the difference.
One thing to keep in mind when planning a home flip is to factor all of the costs associated with the renovations and upkeep of the home into your budget. This includes the mortgage if necessary. It will likely take some time to do the renos especially if you are doing them yourself. Also, make sure that you don't overestimate your abilities when it comes to renovations. The last thing you want is to find yourself in the middle of the renos and having to find a contractor on short notice to rectify a mistake. This can cost valuable time and easily push you over budget on the project.
Usually in a home flipping situation you will be looking at redoing the floors, paint, kitchen, fixtures and bathroom. Essentially a complete cosmetic upgrade. However, do not forget to check all the important systems of the home for bugs or problems. The home may look fantastic but if its interior systems do not pass a home inspection you may have a problem on your hands.
Christian Jacobsen is a long-time Utah real estate agent and resident, who works state-wide bringing families and homes together. Christian's knowledge and experience make him the ideal choice when looking for a new home or property in Utah. Contact Christian today or visit the Jacobsen Team at www.utahpropertyfinder.com.