22Oct

Home Equity

by Lee Seward real estate market, boost real estate earnings, building a house, buying a new home, Construction, construction companies, construction contractor, construction contractors, Contractors, Custom Homes, fix and flip, flipping florida, flipping homes, florida homes for sale, for sale by owner, general contractor services, Home Equity, Home For Sale, home mortgage, Home Remodeling, houses for sale, Housing Market, improve sales in real estate, investing in real estate, licensed contractors, local building contractor, local construction company, market trends in real estate, mortgage rates, new home construction, new home florida, new homes for sale florida, Property For Sale, Real Estate, real estate agent, real estate commission, real estate investing, real estate license, Rebuilding Homes, Remodeling, Renovation, Repairing Home, small construction companies

Create Equity and Wealth

Wealth Building

Challenging markets are when you seek ugly ducks in great neighborhoods. Renovate and create your equity and increase wealth.

Houses that have been on the market longer were overpriced and not as desirable. The location can be and at some point the seller will take reasonable offers or just remove the listing. These are the deals to seek out and create. Place an offer and see what happens.

Remodel

This home was flood damaged and the sellers want out. Remodeling this home regardless how cheap is not worth it because it can flood again. But you can raise the home for about $170,000 and create a sustainable environment and equity.

When you are looking to add money to improve a home you need to be able to sell the finished product for 2x+ or higher what your total costs are. We usually operate with 3x+ but we are also doing our own work.

Purchase is where you make the most gains. Know the market and what land costs are (reasonable costs). This helps you decide what your max purchase price will be. Know your improvement cost, this house at $300,000 and $170,000 in improvements = $470,000 total cost. The finished home elevated above FEMA floodplain will have lower insurance premiums saving a buyer $10,000+ every year. This home would sell easily finished at $940,000 in this neighborhood.

You created $470,000 in equity today. Many people will tell you that this is impossible, but it is possible. We do it and you can to.

Raise your Home

Spend money on sustainable remodeling. Elevating the home stops water damage from future flooding, it lowers your insurance rates by $10,000+ per year, the best thing is you just significantly increased your equity and wealth.

Contact Iridium Development and we can help you with raising your home.

info@iridiumdev.io

561-597-0021

Florida License #CGC1534948

23Aug

Mortgage Rates

by Lee Seward Remodeling

Lower Cost

Savings

Are you feeling trapped by high mortgage rates? Instead of considering the daunting task of purchasing a new home with even higher mortgage rates, why not explore the option of remodeling your current home? With Iridium Development, a trusted and experienced general contractor, you can transform your existing space into your dream home while still living there.

Imagine having a brand-new kitchen that perfectly suits your culinary needs or adding that much-needed extra room for your growing family. Our team of skilled professionals specializes in various aspects of home remodeling, including kitchen remodels, additions, window installations, roofing repairs, and more. We are committed to providing free estimates and delivering top-quality workmanship to ensure your satisfaction.

By choosing to remodel instead of moving, you not only save yourself from the stress and expenses associated with buying a new property but also have the opportunity to customize every aspect of your home according to your preferences. Whether it’s creating an accessory dwelling unit (ADU) for additional rental income or upgrading your bathrooms and flooring for enhanced comfort and aesthetics, our dedicated team will work closely with you to bring your vision to life.

Don’t let high mortgage rates hold you back from achieving the home of your dreams. Contact Iridium Development today and let us guide you through the exciting journey of transforming your current space into a place you’ll love coming home to.

28Jun

Mortgage Rates Decline Again

by Lee Seward Housing Market

Rates as low as 6.67%

Housing Market

We are in a Recession, Housing Bust, Foreclosures Rising

This is the click bait you see today. The prediction to where the economy and housing market is or going remains open and optimistic by most. Commercial property loans are in trouble, this will continue as office buildings remain partially occupied across the U.S. some say it will be troublesome through 2040.

Some economists are looking at the Treasury yield bond curve that inverted July 5, 2022 and remains inverted showing indication signs that we are going into a recession. Past history shows that when this happens approximately 15 months later the economy goes into recession.

The Federal Reserve is adamant of curbing inflation and bringing it down to 2% from the 4% metric this past May.

Foreclosures

So much unknown, yet there is a lot of known information. We are on the edge of a buyers market today however, well priced homes are still selling quickly. Inventory is down and has been for years now.

If you are ready to purchase a home or second home, be smart. Search out the A+ locations, you do not want to be the most expensive home in the area. You can also add equity or buffer your investment by purchasing a home then improving it.

Rather than spend up to purchase something someone else improved. Find that home (in an A+ location) that has potential, hire your General Contractor and build your dream.

By renovating or building you are creating your own equity buffer. With all of the click bait, housing goes up and some years it decreases but in the long run it appreciates. Be smart, buy right and you will create your own equity.

If you are looking for a home in Florida and want budgets for renovating give us a call. We can also connect you with one of our trusted realtors located all over the Gulf Coast.

Iridium Development