Spam is not what people like. When people get mail that they do not like, they call it obviously JUNK MAIL. Everyone knows and hates junk mail. So when you ask someone what was in the mail and they say junk mail you already know that it was people just sending out advertisements and things you did not ask for.

When it comes to real estate there is also junk mail or what I call SPAM. Way to often I see real estate agents giving me their card or some postcard in the mail with their picture or something on it. The first thing I think of when I get this is “I did not ask for this”.

I often get this one real estate agents stuff in the mail on a consistent basis that I did not even ask for and it becomes really annoying. As I look at his advertising it just makes me think less of him as a business person because he is not following one the unsaid rules:

Only give things to people when they ask for it.

Please as a real estate agent do not go overboard with handing out what I call your advertisements. In other words you do not want to be a commercial on TV where people want to change the channel.

In email marketing, according to the CAN SPAM ACT of 2003, you can have one email that is an advertisement email that people did not ask for or sign up for. However you can not send more after that unless the person asks for more.

The same goes for business in general, however I see way to many real estate agents who are hungry for business and shove their services into many people’s faces. The goal is to have the people come to you not the other way around.

So do not send people who have not asked for your advertising cards, brochures, postcards, etc. People will get highly annoyed if you consistently throw stuff in their face.

You will become a much more effective real estate agent if you are on the good side of people, not the bad side. The best way to do this is to not SPAM them.

There have been many times people have driven around cities looking at homes that they have seen online or in other forms of marketing and have been dissappointed because what they saw online is not what they saw in person.

This is kind of like when you see a commercial online of a nice meal that is by some restaurant and then when you go there it does not even look the same or as good. Although it is good to advertise your products in a way that are appealing it is also important to advertise the truth.

The biggest killer in real estate is when customers do not trust you as a real estate agent because you have a reputation of leaving or advertising property better than they really are. If you have a listing that says it has beautiful views and then a potential buyer visits the property and the view is less than to be desired then you are losing their trust.

It is vital as well to do good in the real estate industry as word travels very fast. If other real estate agents know that you have a reputation for not telling the property the way it really is then they will not be as excited to show your homes to thier potential buyers.

So in order to gain the trust of the consumers and other real estate agents please tell the truth at all times. It will pay off in the long run. If you list a home that is a dump, then that is what it is and you should list it and explain it in the proper description.

The Bontadelli Team are always striving to tell the truth and to look out for our customers best interests. We pride ourselves in understanding the Cedar City Utah real estate market and will always find the best deals for our clients.

Banks do not want to be in the real estate industry they want to be in the lending industry. So when they get a bunch of homes that have loans in default they are not in a good mood. The result is they have no one paying them money back and not to mention they are losing money with a piece of real estate on their hands.

This is where the banks hold real estate auctions to get rid of their properties that they hold. And when I say they want to get rid of them I mean it. Recently there have many real estate auctions across the country and many in the state of Utah.

There have been homes going for 40 cents on the dollar. This means that if the home were valued at $100,000 then it would be sold for $40,000. That is a good deal to have 60% off on anything especially real estate.

If you are looking for a home you might want to consider looking into the bank real estate auctions. They are held all over. To find them you can look up your local real estate agent and they will be able to help you find where and when they are being held.

One thing to remember is that it will be easier to find homes that are in the bigger price range that are above a million dollars because the market for those are not high in demand. I recently heard about a million plus home that was bought for somewhere in the $500,000 dollar range.

Even though that is still a lot of money it is a steal off of what is was normally going for. So if you are in the market for this type of price range I would be on the lookout for these homes that people got in way over there head on. Their loss your gain.

The Bontadelli Team can help you find the perfect home like this in any area especially in the Cedar City real estate market. Good luck in finding your home at a great price.

Lending and your mortgage are a different scenario in the investment field.  Great credit history, a minimum of 10% down and count on 1 point above prime in interest rate, so today that would be 6.78% still a fabulous rate.  With 10% down also count on PMI or Principal Mortgage Insurance added to your monthly amount. This is a fee lender’s typically charge to insure a low down payment loan. It can be removed in most cases after the loan has diminished a certain amount.

If you are fortunate to have 20% or more as a down payment, then you avoid the added PMI, and have a greater cash flow. 1031 exchanges are also a great way to move monies you may have in other properties by selling those, and “identifying” and purchasing other properties that may produce a better return for you in the future. 1031 there for have great benefits tax wise also, visit with your tax professional for further details.

Virtual staging is exactly what it sounds like, you take a home and stage it with furnishings. All real estate agents know that it is easier for a home to sell when a potential buyer walks into a home and sees some furniture.

Why is this such a big deal. Well vision has a big play on our senses and when you walk into a room with nothing in it then the eyes have a hard time to see what it could be like. There are some people who are fairly good at visioning what something would look like by not having furniture. Those in construction generally have to look at a drawing and visualize what it is supposed to look like.

Yet having a 3D model makes the process much more advanced in visualizing what something would look like. Now in the real estate industry virtual staging is starting to make an impact as more consumers use the internet to find homes. In the past virtual tours use to be the hot topic and then it went to video.

Virtual staging will take a home and then furnish it as though it is being lived in so consumers can see the home online the way they would if they were visiting the home that was staged by the real estate agents or homeowners or builders.

Some may say that virtual staging is a play on the imagination as the furniture does not really exist and is really not what the home looks like. This may be true yet virtual staging does seem to be the way that the real estate industry is going into.

We want to know your thoughts about virtual staging so go ahead and join the conversation and make a comment. Next time we might have what virtual staging looks like here on this site.

When you are selling something you want a good marketer to spread the word in a fast and effective manner. Real estate agents who understand marketing do far better then those who do not. Why? Because when trying to sell something it is the marketing that matters the most.

You can have the greatest home available in the whole city but if no one knows about it then who cares. This is why it is important as a seller to interview real estate agents that understand marketing. So as a seller you want to ask a real estate agent exactly how they market real estate.

The key to marketing is to get the word out to people who are looking for what you sell. This is why it is critical to ask them the questions in the beginning before all they do is put a sign up and leave. It is also very important to find an agent that is on the cutting edge of technology.

Why do I say this? Because the world is becoming more advanced everday and the internet is making big changes in the real estate industry. When people are looking for real estate now they use the internet. If your real estate agent is not placing your property online then you are missing the boat.

So make sure you get an agent that is very good at marketing real estate in many different ways.

Consider the Tax Advantages

Owning a rental property whose rentals truly cover out of pocket costs still affords you a potential profit from tax breaks and any appreciation. The tax advantages of owning a rental property may include:*

• Maintenance and repairs
• Depreciation
• Other expenses
• Losses (within specified limits)

* For illustration purposes only; consult your tax advisor for specific tax advantages.

Shop for Financing

Financing a rental property is typically more costly than for your primary residence, so it pays to shop around. Lenders typically require down payments ranging from 20% to as much as 40%, and rates may range from one to two points higher than for an owner-occupied home. Lenders usually consider a percentage of the total current rental income when calculating how much they’re willing to lend; if you’re buying a vacant property, you must qualify for financing without factoring in rental income.

Some alternatives to traditional lenders include lenders who specialize in financing rental properties and owner financing from the seller of the property. If you plan to purchase a multi-unit dwelling and plan to occupy one of the units, you may qualify for more favorable terms on your financing.

Regardless of the financing you choose, be sure to retain sufficient cash reserves or available line of credit to cover contingencies such as repairs and vacancies.

Shop for Tenants

This is serious advice; choose your tenants every bit as carefully as you chose your rental property. Delayed payments, non-payment and eviction proceedings will take a toll on your return, your peace of mind and on your good tenants.

When considering prospective tenants, ask questions, verify all references, and run a credit check and a search for previous evictions and other evidence of legal troubles. Follow up with the current and previous landlords, but do not take glowing recommendations from a current landlord (particularly within the immediate area) at face value.

As an additional check, put the Internet to work for you and ensure that all phone numbers listed by prospective tenants match the directory listings.

To succeed as a landlord, you must also educate yourself when it comes to applicable landlord-tenant laws and regulations. Seek the advice of a professional when it comes to drawing up rental agreements and at the first sign of a dispute with a tenant; it’s excellent insurance for avoiding a lengthy and much more expensive headache in the future.

In Summary: The Keys to Rental Success

Do your homework, seek sound advice from a real estate professional, select the right rental property at the right price, choose tenants carefully, plan to be in it for the long term, and you’re likely to find that all your hard work will produce a very satisfying result. Who knows, it may even set you off on a whole new career!

With Southern Utah University in Cedar City and all of the students coming in to live it has increased the population and the Cedar City real estate market as their are landlords and real estate investors who are going to make a killing as they have apartment complexes and homes available for students to live in.

This is a very good opportunity for individuals who are looking to purchase any type of duplex or fourplex as it will increase in value and the students pay for the mortgage. Some are hesitant because of the parties and so forth that do go in college as their property will get damaged.

Their are certain things a landlord should put into their contracts. One is to make the tenants responsible for as much as you can. For example you do not want to change a lightbulb every time it burns out or you will be doing that nonstop. It is important to put parameters in your lease agreements.

Although you cannot justify having a rental agreement look like a lease-option agreement it is vital to not want to be stuck with very minor repairs. This will ensure you have more responsible tenants. Incentives for keeping the property nice and in good shape could be a good way to get what you want.

For example if the property is in great shape with no calls or complaints then you could give a discount on that months rent. Always have the tenants on your side instead of the tear and destroy because it is not their property side. A tenant will want what every person wants, a good place to live.

They will want to know when they take care of the property, whats in it for me. That is human mentality of survival and so it is a good idea to let them know the benefits and the consequences. Having great tenants is a blessing.

Cedar City real estate is comprised a lot of landlords who own student housing complexes and is a very good city to own rental property.

Cities/Miles

Phoenix, AZ                       398

Los Angeles, CA                466

San Francisco, CA             780

San Diego, CA                   502

Las Vegas, NV                  180

Reno, NV                          524

Denver, CO                      575

Salt Lake City, UT            253

Albuquerque, NM            614

Attractions/Miles

Brian Head Ski Resort        32

Bryce Canyon                    78

Cedar Breaks                     21

Grand Canyon                   157

Kolob Canyon                   19

Bullfrog                            294

Waheap                            120

Elk Meadows                    68

Snow Canyon                   60

When people are looking to purchase real estate the best thing to start with is to get pre-qualified. This means meeting with a mortgage broker who will gather information and assess how much money you can afford. Here are some steps we call “Four to the Door.”

STEP 1: GET PRE-APPROVED

Guaranteed same-day loan decision. Most loan decisions are made within 20 minutes. When your customers speak to their loan consultant, they may choose Pre-Purchase Rate Protection, which safeguards their interest rate against market fluctuations and gives your customers the option of locking in a lower rate if rates drop.*

• Pre-approval letter. Once your customers are pre-approved, their letter will arrive immediately via fax or e-mail, so you can begin house hunting right away.

STEP 2: FIND A HOME

• Call us with a property address. The moment your customers notify us with the property address, we will order an appraisal (if needed) and send them a package containing important next steps. As soon as you and your customers have agreed on a price and signed the contract, have them call us.

STEP 3: RETURN DOCUMENTS

• Confirmation and Documentation. At this step, we will need your customers to verify the personal information supplied to us earlier, as well as any required documentation for closing.
• Loan application package. With this package, your customers will confirm the information they supplied for the pre-approval. There is nothing to fill out. They simply need to review the About You information and make any necessary changes. Then they sign and return the documents in the overnight envelope provided.

STEP 4: CLOSE ON TIME

• Guaranteed to meet closing date. Because you selected ERA Mortgage, you and your customers can rest easy: we’ll meet their requested closing date – guaranteed – or we’ll reduce your customers interest rate by 1/8 of one percent for the life of the loan.
• Closing Package. At closing, your customers will receive a Closing Package, containing all the documentation they need from ERA Mortgage.

ERA Mortgage also offers an easy mortgage experience for real estate agents.

• Agent Help Desk. Through our Agent Help Desk, you can receive information about loan program specifics and availability, current interest rates, down payment information, customer Good Faith Estimates, and more.
• Convenient hours. We work when you work. Our knowledgeable Mortgage Advisors are available 7 days a week.
• Flexible financing options. With over 150 mortgage programs, including a full host of specialty programs, ERA Mortgage has the options to fit your customers in the financing plans that best suit their needs.