Seeking financial stability? Maybe it's time to explore the untapped potential of long-term rentals and pave your way to a prosperous future.   With nearly *35% of households in the U.S. renting their homes, there's a strong demand for rental properties - and that's great news for homeowners like you!   Armed with this insight, here’s what I tell aspiring landlords as they start out on their long-term rental journey:   Location, location, location. If purchasing, choose a neighborhood with high rental demand and desirable amenities to wow quality tenants. Think about proximity to schools, parks, public transportation, and popular attractions. If you’re renting a home you already own, a high-demand location will help you raise the rent.   Set the stage for success with smart upgrades. Make cost-effective improvements that enhance your property's appeal. Fresh paint, updated fixtures, and modern appliances go a long way in pleasing tenants and driving up rental income.   Protect yourself with a rock-solid lease agreement. Clearly outline tenant responsibilities, rent payment terms, maintenance procedures, and any rules or restrictions in a comprehensive lease agreement. Consider seeking legal advice to ensure its effectiveness.   Do you have firsthand landlord experience? What top advice do you have for an aspiring landlord? Share your wisdom in the comments below!   #homeinvesting #realestatetips #investing #intheknow #homeownertips   *Source: https://www.nerdwallet.com/.../finance/rental-market-trends

Read More

Are you curious how we suss out a home's price here in sunny South Florida? Grab your sunglasses and your iced tea, 'cause we're about to dive into some really cool real estate magic! Here's how it's done, my friend:   Research and Comparative Market Analysis (CMA): This is like when you're at a BBQ, trying to figure out who makes the best ribs, right? You can't just decide that without comparing! So we look at similar homes (the comps), in the same neighborhood, that have sold recently. We check out their selling price, size, condition, features and more, and this gives us a ballpark figure.   Cost Approach: This method is a bit like cooking. You gotta know the cost of all your ingredients before you start. In real estate, we add up the value of the land, plus the cost to build a new home, and then subtract depreciation (that's like when your grill gets old and rusty). This method is especially useful for new or substantially renovated houses.   Income Approach: This one's for rental properties. Think about it like a fruit tree in your backyard. If it's producing a bunch of juicy mangoes, it's more valuable, right? If a house can generate solid rental income, it's worth more. We look at the income it could generate and compare that to similar properties.   Appraisal: This is when we call in a professional appraiser, sort of like a judge extraordinaire in a BBQ cook-off. They use their expertise, education and a mix of the methods above to give an official value of the property.   Market Trends: Just like flamingo lawn ornaments might be more popular some years than others, the real estate market has its trends. We look at whether home prices in the area are generally rising or falling and how fast. Are we in a buyer's market (more houses than buyers) or a seller's market (more buyers than houses)?   Special Features and Adjustments: Just like a swimming pool or a state-of-the-art outdoor kitchen can be the star of a summer party, special features of a home can affect its price. Unique architectural details, upgrades, a great view - these can all add to a home's value.   Ask the Neighbors: Okay, we're not really going door-to-door here, but part of a seasoned agent's secret sauce is their network. Getting insight from other realtors and locals can help gauge a property's value. It's like getting the inside scoop at a neighborhood block party.   And there you have it - a fun and flavorful guide to home pricing in South Florida! Remember, determining a home's value isn't as simple as price-per-square-foot. It's a blend of science, art, and a little bit of that Southern Florida sizzle. Happy home hunting!

Read More

Welcome to Wilton Manors, FL, an idyllic jewel snuggly nestled in Broward County's heart. Often overlooked, this vibrant and welcoming city charms its residents and visitors with its unique character, rich architecture, and multi-cultural vibe. If you're contemplating moving to Florida, Wilton Manors should top your list for all the right reasons. So, let's set off on a delightful journey to explore this gem and unlock the secret to a happy life in Wilton Manors, FL. Unwind with the Wilton Manors' Lifestyle Residing in Wilton Manors invites you to bask in the quintessential Florida lifestyle. Imagine being surrounded by rustling palm trees, glistening sandy beaches, and the golden sunshine that Florida is famous for, every single day. The city's open arms and inclusive spirit make it effortlessly easy to connect with new people and make lasting friendships. Whether you're a fan of an exciting night out at a local pub or a tranquil day at the by the pool, Wilton Manors presents an array of experiences for all tastes. Embrace the Warmth of Wilton Manors Neighborhoods With just over 12,000 residents, Wilton Manors preserves the enchanting allure of small-town living. The cityscape is divided into captivating neighborhoods, each echoing its unique charm. At the heart of the city, you'll find the bustling Wilton Drive, a hotspot for gourmet restaurants, vibrant bars, and chic stores. Head east, and you'll be greeted with stunning waterfront houses, while the west side resonates with a distinctive residential appeal. Indulge in an Array of Activities in Wilton Manors For a city its size, Wilton Manors offers an astonishing range of things to do. If you're an outdoor enthusiast, the Richardson Historic Park and Nature Preserve will become your sanctuary. Revel in the beautiful park with numerous hiking trails, delightful picnic areas, and an enchanting butterfly garden. The adventure doesn't stop there; rent a bike and let the city's quaint streets lead you on a remarkable journey. The city also enjoys a vibrant nightlife scene. The pulsating heart of the night is Wilton Drive, home to a selection of bars, restaurants, and clubs. From a casual tipple to a night full of dancing, Wilton Drive has got you covered. If you fancy a quieter evening, Classic Gateway Theatre is the perfect spot to catch a timeless movie. Savor the Culinary Delights of Wilton Manors Food connoisseurs will find themselves at home in Wilton Manors, with a smorgasbord of dining choices. Craving some Mexican food? Head over to La Mexicana Taco Bar for delectable margaritas and authentic Mexican cuisine. For those preferring Italian, Bona Italian Restaurant is a must-visit. This upscale eatery serves classic Italian dishes complemented by an extensive wine list. On a more casual note, Rosie's Bar and Grill is the town's favorite watering hole. Famous for its juicy burgers, unique cocktails, tasty bowls, and a relaxed ambiance, it's the perfect spot for a fun evening with friends. Wrapping Up: A Happy Life in Wilton Manors, FL In conclusion, choosing Wilton Manors, FL, as your home equates to embracing an excellent, friendly, and inclusive lifestyle. The city's laid-back charm and year-round pleasant weather make it effortlessly welcoming. With a diverse range of adventures, relaxing spots, and delectable dining experiences, life in Wilton Manors promises never a dull moment. So, get ready to embark on a beautiful journey in Wilton Manors and cherish the happy life it offers.

Read More

APRIL 2023 | WILTON MANORS, FLORIDA MARKET REPORT In the latest market update for Wilton Manors, Florida, we are observing some intriguing trends in both single-family homes and townhouses/condos sector. Starting with single-family homes, we've noticed a decrease in the number of sales. Specifically, we saw a 42.1% drop in April 2023 compared to April 2022, with a slightly less dramatic 4.0% decrease year-to-date (YTD). Despite this slowdown, the prices are on the rise. The median sales price increased by 6.4% in April and by 14.9% YTD, while the average sales prices saw an even greater bump, rising by 15.3% in April and 18.8% YTD. Interestingly, the total dollar value of sales dipped in April by 33.2% compared to the previous year but jumped by 14.1% when viewed YTD. The changing market dynamic is reflected in the percentage of the original list price sellers received, which dipped by 8.5% in April and 6.2% YTD, suggesting buyers are gaining a bit more leverage in negotiations. Moreover, the inventory of homes for sale has increased significantly, showing a 227.3% rise from April 2022 to April 2023, indicating that potential buyers now have more options to choose from. Moving on to the townhouse and condos sector, we're seeing a similar trend. The number of closed sales dropped 16.7% in April 2023 from April 2022 and saw a 7.8% dip YTD. However, prices are also climbing here, with the median sales price increasing by 3.9% in April and by a substantial 34.0% YTD. The average sales price experienced a minor bump in April by 1.4% but made a significant leap by 26.9% YTD. The total dollar value of sales decreased by 15.5% in April from 2022 but went up by 17.0% YTD, pointing to a similar trend as seen in the single-family homes sector. The supply of townhouses/condos increased modestly from 1.1 months to 1.3 months from April 2022 to April 2023. In conclusion, even though sales are slowing, prices are on the upswing in Wilton Manors, making it a seller's market for now. However, with rising inventory levels, buyers might soon have more choices and bargaining power. Stay tuned as we continue to monitor these trends in future market updates! Let me know your thoughts and happy real-estating! -Cameron

Read More