All Blog Entries by Veronica Hicks 
Veronica Hicks is the expert in Orange Countys condominium market. By focusing her business exclusively on these unique communities, she has a thorough understanding of the appeal and benefits of this modern, metropolitan lifestyle.
There are currently 52 blog entries published by Veronica Hicks.
Real Estate Review, Cash Vs. Mortgage
Monday, March 14th, 2011 at 1:29pm. 93 Views, 0 Comments.
Often people considering investing in real estate weigh the option of cash vs. mortgage. There are some great deals in today’s market and often offering a cash deal can make a deal even sweeter. When cash is involved there is no mortgage, therefore no chance of a financial contingency getting in the way of closing. Cash is king, but is cash the best avenue for you and your real estate transaction?
Cash is great for:
- negotiating power
- negating a financing contingency speeding up a closing date
- eliminating a monthly loan payment
BUT cash has its downside as well, a cash deal:
- ties up assets
- eliminates a mortgage interest tax deduction
Buying a property with cash to get the best deal possible could be…
High End Real Estate Pulling in Wealthy
Thursday, March 10th, 2011 at 4:59pm. 71 Views, 0 Comments.
High end real estate is pulling in the wealthy, otherwise known as the people who have the money to buy expensive properties at hugely discounted prices. While the recessional economy has taken its toll on many, there are people who survived with plenty of cash still left in their bank accounts, as well as those who have made a great deal of money from these tough times.
The recession proved to be a great platform for investors who had money to invest, and now that there is a light at the end of the tunnel these investors see great opportunity in buying luxury real estate at a tremendous savings.
Sales for condos valued at less than a million dollars fell in 2010, whereas sales for condos valued at over a million dollars increased quite…
Combating High Property Taxes
Friday, March 4th, 2011 at 1:55pm. 54 Views, 0 Comments.
Combating high property taxes is something people should be aware of in a time when condo values have dropped significantly. It can be a puzzling question to many homeowners, if my condo’s value has dropped 25% why have my property taxes not decreased by the same amount? Your property tax bill can be adjusted if you make an effort to challenge it.
The first step is to take a good look at your property tax bill. This year’s assessment and last year’s assessment should be listed, as well as a breakdown of how your taxes are allocated and added up. You should have a good idea of the value of your property and whether or not you have been assessed properly. A good next step is to approach your Assessor’s Office.
What to…
Pros and Cons of Sellers Conducting Inspections
Tuesday, March 1st, 2011 at 2:25pm. 56 Views, 0 Comments.
There are pros and cons to sellers conducting home inspections before listing and selling a condo. Many people in the real estate business see the merit of an inspection before listing a condo because it enables problems that could become deal breakers to be resolved before they ever become known to a potential buyer. Of course a pre-listing home inspection can also unveil a laundry list of issues that a condo owner may not be prepared to deal with or pay for.
If a seller decides to do an inspection before putting his condo on the market he has a choice of fixing the issues that present themselves, or opting not to. A condo owner has to disclose the inspection items when under contract and therefore must be prepared to fix problems,…
Real Estate Recovery Picking Up Speed
Monday, February 28th, 2011 at 1:38pm. 59 Views, 0 Comments.
The real estate recovery appears to be picking up speed. Helping to accelerate the sales of condos is the extremely low cost involved. While condo values may still drop in many areas, it appears that volume may start accelerating. The high number of foreclosed condos has pushed the prices of condos very low in many parts of the country, helping to create extremely reasonable affordability.
An interesting examination of real estate sales data uncovers the fact that cash buyers are representing a large percentage (roughly one third) of the nation’s condo sales. Today’s buyers market is a boon for real estate investors who are clearly seeing that the bottom is here, whether it has already hit or is close to being hit. January showed…
Update Your Kitchen on a Budget
Thursday, February 24th, 2011 at 2:42pm. 69 Views, 0 Comments.
It is possible to update your kitchen on a budget. Remodeling a kitchen can turn out to be one of the most expensive projects in a condo, as the price of new cabinets, new appliances, new counters, and installation can all add up to a hefty price tag. Of course often a kitchen is what sells a condo, and considering the kitchen is one of the most lived in rooms in a condo this makes sense.
If you are considering selling your condo and don’t have a lot of money to pour into it to prepare it for sale, consider some low-cost improvements that will update your kitchen without breaking the bank.
The kitchen sink is a great place to start. Faucets are in and come in a wide variety of modern forms these days. A simple faucet replacement can…
Good Credit Goes Hand in Hand with Acquiring a Mortgage
Wednesday, February 23rd, 2011 at 2:28pm. 64 Views, 0 Comments.
Good credit goes hand in hand with acquiring a mortgage these days, especially a loan with a reasonable interest rate. That being said, examining your credit rating should be the first step you take before applying for a home loan.
A free credit report is accessible from AnnualCreditReport.com, which will give you access to your credit rating from the three main credit reporting agencies, Experian, Equifax and Trans Union. What these reports will not give you is your FICO score, something that can be purchased for roughly $15.
The FICO score is what lenders go on when determining whether to lend money and under what terms. The FICO score is achieved by weighing out your payment history (whether you pay your creditors on time) and your…
Buying Your First Place, Must Be Prepared
Tuesday, February 22nd, 2011 at 1:25pm. 59 Views, 0 Comments.
Buying a first condo is both an exciting and humbling time for many people, made easier by being armed with knowledge and being prepared. The decision to buy a first condo is a big step. What can often be forgotten in the excitement of the first time buying process is that often what a condo buyer wants in a condo and what a condo buyer can afford are two different things. In other words, your first condo will likely not be your dream home, often a humbling fact to come to terms with.
Getting pre-qualified for a home loan before starting your search is a key element in buying. Having all of your ducks in a row, knowing your monthly budget and having the necessary paperwork and tax returns is important to ease the process. To fit into…
Selling Real Estate, A Little Elbow Grease Goes a Long Way
Friday, February 18th, 2011 at 3:48pm. 58 Views, 0 Comments.
A little elbow grease goes a long way when selling real estate, especially if you are trying to cut back on expenses. Many people stage their condo to sell, a sometime’s costly venture in a time when profits from home sales are at low levels. There are many things that a homeowner can do himself to save money and reel in a buyer.
Research shows that today’s condo buyer is more interested in buying a condo that is in move-in condition, as opposed to a condo that needs some major work and updating to be acceptable. This fact makes a condo’s appearance a key factor in attracting buyers. Aside from the standard cleaning, organizing, and de-cluttering there are many steps that can be taken to improve a condo’s appearance. From…
Real Estate Update, Affordability Driving Buyers Market
Tuesday, February 15th, 2011 at 4:32pm. 66 Views, 0 Comments.
Examining the nation’s real estate uncovers that people buying real estate are doing so because of the incredibly high affordability levels. While mortgage rates have been dipping and rising in recent weeks, housing prices have continued to drop, if ever so slightly in comparison to a year or two ago. The high inventories in most markets are keeping prices from rising and sellers are forced to swallow the fact that if they want to sell they have to do so for less than originally thought.
Low home values, low mortgage rates and high inventories have created an ideal time to buy real estate. These are the best affordability levels with respect to real estate that have been seen in years and those buying are the people who do not want to…
