Kay Carlson Realtor - Remax Mountain Properties discusses how to choose a vacation rental property in Prescott

A vacation rental is typically property that is purchased as a second home and investment property. The rental income that is generated is helpful to offset some of the costs of owning the home. Kay Carlson Realtor - Remax Mountain Properties offers some suggestions on choosing a vacation rental home in Prescott.

Location, Location, Location
An important factor in choosing a vacation rental property is where it is located. Choosing an area that is a desirable vacation destination means the home will likely have a steady stream of renters. Prescott is ideal because it:

• Is visited often by tourists
• Offers outdoor activities such as lakes and hiking trails
• Has a bustling downtown area with restaurants and galleries
• Boasts great golf courses
• Enjoys temperate seasons

Enlist a Real Estate Agent
While there are a number of online sources you can search, you are best served by working with a local real estate agent who has knowledge of the area and the expertise to help you through every facet of your property purchase. An experienced agent will also be able to check comparable properties and ensure you are receiving the best value for your investment dollars.

Management
If you intend to use your property as a short-term vacation rental, your agent will be able to refer you to vendors who can provide needed services such as cleaning, landscaping, maintenance, insurance, and security. Consider doing some research on vacation rental companies like Airbnb and VRBO (Vacation Rentals by Owner) to set appropriate rental rates and fees.

Buying a vacation rental property can be a great way to invest in real estate, offset some expenses of home ownership, and still enjoy your favorite vacation spot right in your own second home. Whether you are looking for a cabin, a condo or a single-family home in Prescott, Kay Carlson Realtor - Remax Mountain Properties wants to help you choose the vacation rental property that is right for you. To schedule an appointment, call Kay at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Prescott Investment Homes
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Kay Carlson Realtor - Remax Mountain Properties shares reasons to buy a vacation home in Prescott

The purchase of a vacation home is one of the few investments that offers the buyer both personal and financial rewards. Kay Carlson Realtor - Remax Mountain Properties suggests reasons to buy a vacation home in Prescott.

• Plan for your retirement

Retirement may be a few years (or decades) off, but buying a vacation home now opens up some very versatile options for you. Where do you want to retire? Near a lake, in the mountains, or even in your favorite small-town oasis? Would you love to have your children and grandchildren visit your vacation home for holidays and other special occasions?

• Diversify your investments

When you buy a vacation home and rent it out while you are not vacationing, you can create a new stream of income. This revenue can supplement your salary and any other interest-bearing income you earn. If you choose this route, you will want to work with an agent who has the local experience and vacation rental understanding to help you buy a vacation property that is a good income generator in a great market.

• Build wealth by building equity 

When you buy a vacation home, you become part of a community of investors who understand the value of purchasing and holding real estate. Your property can be a great personal investment or a significant part of the estate you leave for your family. Don’t feel compelled to try to pay cash for your vacation home or even cash in your savings. Nearly 75% of people who buy a vacation home invest through some form of financing, while still building wealth for the future through equity.

Kay Carlson Realtor - Remax Mountain Properties hopes these reasons to buy a vacation home in Prescott are an inspiration you. If you are thinking of purchasing Prescott vacation property, find the perfect investment for you and your family! Begin your home search by calling Kay Carlson Realtor - Remax Mountain Properties today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties shares benefits of buying vacation rental property in Prescott

Thinking of buying a vacation rental property in Prescott? There are a number of benefits to doing so, and Kay Carlson Realtor - Remax Mountain Properties shares some of the best reasons for choosing to buy in Prescott.

Dual purpose
Buying a Prescott vacation rental home has one distinct advantage: providing owners with a dual-purpose property. Homeowners can use it seasonally for family vacations, and then rent it out to guests during the rest of the year.

Generating Income
A vacation home is a potential source of additional steady income, offering you the luxury of enjoying your own personal property that happens to make money on the side. If you buy a vacation home and also use it as a short-term rental, the resulting income can aid you in paying the mortgage as well as other predictable expenses (insurance, maintenance, repairs and property tax).

Appreciation
In addition to earning money in the short run through rental bookings, a vacation rental, like most real estate, also makes money through long-term appreciation and naturally rising values. When you're ready to sell your vacation rental home, you can typically sell it for a much higher price, especially if your property is located in a high-demand area.

Tax Deductions
Similar to your primary residence, a second home also has its tax advantages in the form of tax deductions. However, unlike your primary residence, the tax advantages for your vacation rental can get somewhat tricky depending on the number of days you rent it out and the number of days you live in it. Working with a professional real estate attorney or tax accountant will ensure that you are getting the maximum tax benefits from your property.

If you are thinking of purchasing Prescott vacation property, there's still time before tax season to find the perfect property for you and your family. Begin your home search by calling Kay Carlson Realtor - Remax Mountain Properties today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties has tips for your vacation rental in Prescott

If you are considering investing in a vacation home in Prescott, and part of your plan is offering the vacation home as a rental when you’re not using it, there are a few things Kay Carlson Realtor - Remax Mountain Properties recommends you do to secure the safety and security of your rental property between occupancies.

Exterior Maintenance
Arrange to have the yard regularly maintained including mowing, weeding and watering during the summer months and snow and ice removal during the winter. Also arrange to have any advertisements, flyers and mailers tossed in the driveway or left at your door picked up daily.

Turn on the Lights
Always set the lights in your home on a timer. Make sure you are using timers that allow you to set each room's lights to turn on or off at a variety of times during the day/evening. Exterior motion sensor lights are a must and can be easily and affordably added to your property if you don't already have them.

Eight Eyes Are Better Than Four
Make friends with your neighbors on both sides of your street. Give them your phone/text and email and ask them to let you know right away if they see anything suspicious. They can also let you know if they notice a problem like damage after a monsoon or a broken sprinkler or other kinds of incidents which might cause concern.

Invest in Good Locks
Invest in a Bluetooth keypad. They are very easy to install and you can assign private codes to your friends and family, or even a trusted neighbor. A Bluetooth keypad lock will notify you anytime someone enters your home. But good locks don't matter if you don't make absolutely sure all the doors and windows are locked each and every time you leave the property. Whatever you do, do not leave a spare key under the doormat, a fake rock or in a potted plant.

Investing in a Prescott area rental property means having property in a city that is a tourist favorite. Real estate is the perfect investment to enjoy while its value is increasing. If you’re considering buying a second home in Prescott, begin your search by calling Kay Carlson Realtor - Remax Mountain Properties today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties shares tips for buying a vacation home in Prescott

Are you thinking about buying a vacation home in Prescott? Good choice! Kay Carlson - Realtor with Remax Mountain Properties offers these tips for buying your vacation getaway.

Get to know the area.
Consider renting a place in the area you’re considering, as you are looking for your home to purchase. Stay for at least a couple of weeks to make sure you learn how much there is to do in the Prescott area. Visit in different seasons so you will experience weather patterns. Learn what parts of town you prefer.

Carefully choose the location.
Before you start shopping, give a lot of thought as to exactly why you want this second home. The answer will determine just where you look to buy. If the main reason is for you and your loved ones to gather together as a family, you’ll want your vacation home to be in an area that is easily accessible to everyone.

Be realistic about much time you will spend in your vacation home. 
You may use it often at the beginning, but as the kids grow older, you may use your vacation house less and less. This should not necessarily be a deterrent, as the value of your investment may increase considerably.

Buy what your budget can afford. 
Don’t purchase a property that will be a stretch to pay for. You don’t want additional stress - you go on vacation to get away from stress! Also consider whether you want to hire someone to manage the place or care for the yard. Calculate all the financial aspects into a plan that you can afford. You can always upgrade to a bigger house in future years.

Kay Carlson Realtor - Remax Mountain Properties offers these suggestions to consider when buying a vacation home in Prescott. Kay Carlson has a wealth of experience and can help you with all aspects of buying your vacation home. Whatever your real estate needs, call Prescott Realtor Kay Carlson today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties shares the best time to sell your Prescott home

If you are selling your home, you surely want to get the highest selling price you can. It is important to know the best time to sell. While each situation is different, getting the best price for your property always depends on matching a good selling situation with the right market conditions. Kay Carlson Realtor - Remax Mountain Properties discusses the best time to sell your Prescott home.

Here are some signals that will tell you the time is right for selling:

• You can afford to move out of your home. When you sell and move, there are going to be costs involved. Moving expenses can very easily exceed $1,500.00. If you plan to buy your next home and apply for a mortgage, you’ll also need to have enough cash after you sell the house to not only move, but to make a down payment, too.

• You have enough equity in your home. Your equity is the value of your home minus any attached loans. For example, if your property is worth $250,000, and the mortgage balance is $150,000, you’d have $100,000 in equity. If the proceeds from the sale of your home would be enough to pay off your mortgage and selling costs, it may be a great time to put your home on the market. If not, it may be better for you to wait until the equity in your home increases.

• You are confident there are potential home buyers. List your home when buyers in your area are looking for homes. Ensuring that there are potential buyers is what makes Kay Carlson Realtor of Remax Mountain Properties stand apart from the rest. Kay will actively market your home.

Kay Carlson Realtor - Remax Mountain Properties hopes these suggestions about determining the best time to sell your Prescott home are helpful to you. Kay Carlson has a wealth of experience, and can help you with all aspects of selling your property quickly and for a great price. Whether you are thinking of selling your current home, or interested in buying a second home or investment property, call Prescott Realtor Kay Carlson today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties can help turn your Prescott vacation home dream into reality

If you dream of owning a Prescott vacation home but find yourself a little intimidated by the prospect, it might actually be easier than you think. Kay Carlson Realtor - Remax Mountain Properties can help make your dream into a reality.

Here’s a guide to help you consider your options:

Focus on your lifestyle
Tradition dictates that you should own your primary residence before owning your vacation home, but why? Instead, buck the system by using your lifestyle to match your primary residence and vacation choices. Think about your lifestyle. If you dwell on the thought of clean air, beautiful days, vast forests and outdoor fun why not rent a modest condo in the city and spend your money on a beautiful vacation home?

Understand the total cost of owning it
Determining what you can afford can be done in seconds by any lender. Consider the cash you have available for the down payment, closing costs and reserves. If you plan on owning two homes, your lender will expect you to be able to afford the total debt and monthly payments for both properties. To avoid risk, you should also plan for the things that lenders don’t consider in their qualifying calculations including:

• Insurance
• All utilities
• Furnishing a new residence
• Costs to travel between residences
• Maintenance costs: cleaning, landscaping, repairs and spa/pool upkeep

Make an offer using a local real estate agent
Your real estate agent will be familiar with and able to clarify local taxes, commissions, and transaction fees as well as advise you on the particulars unique to your location. It takes someone local to be able to give you expert advice.

By following these steps, your closing will be a breeze and you'll be relaxing in your Prescott vacation home before you know it. If you don't want to wait any longer to enjoy the rest of your life, call Kay Carlson Realtor - Remax Mountain Properties today at 928-778-1010. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties asks: Are you looking for a smaller home in Prescott?

Retirement is an exciting time in life that comes with a significant amount of change. As you go into retirement you may find that your current Prescott home is more than you need. This could be because all of the kids have moved out, taking care of a large property is troublesome, or maybe you need a single-level home for health reasons. No matter the reason, it may be time for you to ask the hard question: is it time to look for a smaller home? This is a question that Kay Carlson Realtor - Remax Mountain Properties helps retirees answer all the time. Here a just a few benefits that come with downsizing.

Mortgage
If you still owe on your home, you may have enough equity to pay off a smaller home or significantly reduce your mortgage. Lower payments on your home may mean you have to pull less from investments and you will create room in your budget.

Home Upkeep
Mortgages are not the only thing that makes large homes expensive. Downsizing to a smaller home means you can save on property taxes and utilities. The average increase in Social Security benefits does not keep up with the increase in sales tax, so keeping your property taxes low is vital to making your money last.

Location
Where you live can have a serious impact on your finances. In some states, Social Security benefits are taxed. Moving to a state where these benefits are not taxed will save you a lot in the long run. A better location means you can walk more, so you are saving on gas and car repairs. It will also help keep you fit well into retirement.

Having a long-term plan and lowering expenses is the key to a comfortable retirement. If you are considering downsizing your home, Kay Carlson Realtor - Remax Mountain Properties can help get you on the right path. For more information, call us today at 928-710-4193. Learn more at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties talks about purchasing a vacation home in Prescott

Real estate investing is a great way to create passive income for your family. However, when it comes to real estate, there are many different options for investors. So where should you start? One option that is becoming increasingly popular is vacation rentals, but what makes vacation rentals a good idea? Kay Carlson Realtor - Remax Mountain Properties shares her expertise for anyone looking to start investing in Prescott real estate.

Extra Income
If you already have a second home, it can easily be utilized as a vacation rental when you are not there. This could provide enough income to not only cover the costs of the second home, but it could become a steady source of passive income to help fund your family vacations.

Personal Vacations
Owning a vacation rental can provide two benefits for you. When you are not renting it to out-of-towners, you can use it as your personal vacation rental. This flexibility is especially useful when you have family members who visit on a regular basis.

Appreciation
Over time, most homes appreciate in value. By simply having a second home, you are making a long-term investment. By using the extra income of the vacation rental for renovations and improvements, you can raise the value of the home significantly without spending any out-of-pocket cash.

Tax Deductions
Having a second home can provide several tax deductions. In combination with the revenue from the vacationers, you could net a significant amount at the end of every year. There are, however, certain requirements regarding the number of days that the property can be rented out versus how many days you live in it. You should speak to an accountant and real estate attorney to make sure you are claiming all available tax benefits.

Vacation rentals have many great benefits. If having a vacation rental in Prescott is the right investment for you, contact Kay Carlson Realtor - Remax Mountain Properties today at 928-710-4193 to learn how we can help you grow your vacation rental investment. To learn more, visit us online at http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties shares what to consider when choosing your Prescott retirement home community

Whether your retirement is a dim glow on the horizon or you're already shopping for retirement party favors and invitations, Kay Carlson Realtor - Remax Mountain Properties invites you to consider these tips as you plan on the best place to enjoy your retirement in Prescott.

Recreation
If you've stopped working but haven't stopped having fun, popular retirement communities offer an abundance of diverse social, cultural, and recreational activities to enhance your retirement lifestyle.

Medical care
Regardless of your present health status, look for a retirement community that can provide you with detailed information about both on-site and nearby medical care providers, specialists, and hospitals.

Lifestyle
Choose a retirement community whose rules and regulations afford you the lifestyle you want and don't impede it. Make sure your favorite pet is welcome and that age requirements of visitors and vacationing guests don't exclude your grandchildren. It's crucial to thoroughly investigate what’s expected of owners and guests.

Maintenance
Most retirement communities include common property and landscape repairs and maintenance. Be sure you know who is responsible for upkeep when you're away, as well as what expenses are included in your monthly fees and what are not.

Weather
It’s a good idea to research the weather or better yet, spend some time visiting your potential new location during the off season.

Budget
Few things drive a decision like money. While you're probably prepared for the purchase price and taxes, don't forget to factor in fees that may be charged in your community.

The community retirement lifestyle means different things to different people, but ultimately it should be the first day of the well-deserved reward for your hard work. Kay Carlson Realtor - Remax Mountain Properties can help you find your Prescott dream community as soon as you're ready. To schedule an appointment, call Kay Carlson at 928-710-4193. For more information visit http://www.prescottinvestmenthomes.com.

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Kay Carlson Realtor - Remax Mountain Properties discusses buying a second home in Prescott

As retirement grows closer and closer, many Americans begin to think in earnest about their financial portfolio. For some retirees the acquisition of another home is an integral part of preparing for a life of leisure. If you're considering a second home in Prescott, Realtor Kay Carlson - Remax Mountain Properties recommends the following:

The purchase of a second home should be done only after first taking stock of your current financial position and anticipated future income and expenses. After seriously undertaking this evaluation, you will have a better sense of what you can wisely afford. But before you actually begin to look at properties, think about the same factors you considered when buying your primary residence, including the:

• Cost
• Taxes
• Location

Decide whether or not you are looking for a:

• Part-time vacation home
• Year-round home
• Condominium
• Retirement community

A part-time vacation home could be used as a vacation property, a rental property, and a home for you to eventually move into full time when you're ready to retire. A condominium or a home in a retirement community can provide some fabulous benefits like a variety of on-site activities including pools, gyms, classes, and golf courses. These can be a perfect venue for making new friends. Depending on the community, some offer meal services and various forms of medical care including long-term facilities.

The type of home you buy or where it's located may mean there are HOA or community association costs to cover these extra services, activities, classes, or care as well as restrictions with respect to the appearance of your home's exterior, landscape and other more specific rules.

A second home can prove to be an important source of additional income or security and offers retiring homeowners more options. If you are retired or approaching retirement, and considering a second home in Prescott, Kay Carlson Realtor - Remax Mountain Properties would love to help you realize your dreams. For a smooth real estate transaction with masterful attention to detail and excellent customer service, call Kay Carlson at 928-710-4193. Visit http://www.prescottinvestmenthomes.com for more information.

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Prescott Rental Investments
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Kay Carlson Realtor - Remax Mountain Properties talks about purchasing your second home in Prescott

When you are purchasing your second home, it is all about finding your dream home. This search is not about looking for a house that is a “fixer-upper” or  “close enough.” You want to find the home that is going to make you happy. Kay Carlson Realtor - Remax Mountain Properties shares a couple of tips on purchasing your second home in Prescott.

Before you begin your search, sit down and think about what would make the perfect home for you. Do you want to live in a Victorian-style house with a big backyard? Maybe you are looking for a vacation home that will require minimum upkeep. Or maybe you just want something simple and an “attached home” like a condo or townhouse is what will fit you best.

Once you have a vision for the lifestyle you want, sit down and make a list. This list will become your guideline for your perfect home. Remember, this is your dream home, so feel free to go a little overboard. Here are a few ideas to get you started:

• Style and size of the home
• Floor plan
• Layout of the master bedroom
• The number of beds and baths
• Neighborhood
• Built-in amenities (i.e. pool, hot tub, tennis court, etc.)
• Number of cars in your garage
• HOA requirements

In many situations, home shopping is not the right option for you. You may realize that your wish list is a little too specific for the current housing market. In this case, you may want to consider purchasing land and building a custom home that will be precisely what you want. You can also rest easy knowing you will not have to deal with major home repairs anytime soon.

Now that you have decided on your dream home, it’s time to go out and make it happen. Kay Carlson Realtor - Remax Mountain Properties can help you find the right fit for your second home in Prescott. Call us today at 928-710-4193 or visit us online at http://www.prescottinvestmenthomes.com. Your perfect home is waiting for you.

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Prescott Second Home Purchase
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Kay Carlson Realtor offers helpful habits to start before you begin house hunting in Prescott

If this is the year you are determined to buy a home, there are some items that will help you reach your goal. Kay Carlson Realtor suggests a few helpful habits to start before you begin house hunting in Prescott.

Immediately and then annually -
Check your credit report. Do you even know what your credit score is? If not, or if you haven't done so recently, now's the time to check.

Daily - 
Deny yourself some of those unnecessary extras, like that afternoon coffee beverage, your cable TV subscription, going out for dinner, or buying impulse items.

Weekly -
Open a special “new home savings account,” and make weekly deposits of the money you are saving daily. Watch the money grow. By doing this you can come up with a 20% down payment for your mortgage. The larger your down payment, the smaller your mortgage, meaning you will pay smaller monthly payments and avoid paying mortgage insurance.

Monthly -
Pay all your bills on time. To qualify for a mortgage at a decent interest rate, you'll need a credit score that is at least in the 600s. The best way to keep your score high is to be in the habit of paying every single bill on time. Timely payments are especially important for auto loans, leases, and credit cards, since mortgage lenders look there first when checking reliability. If you are renting, bills include your rent, too. In fact, when you’re going into a home purchase, you sometimes need a referral from your landlord.

The New Year is always a good time to begin new habits, especially those that will help you with a home purchase. When you are ready to begin house hunting in Prescott, and want the benefits of hiring an agent devoted to your goals and committed to your best interests, call Kay Carlson Realtor at 928-710-4193. Visit http://www.prescottinvestmenthomes.com for more information.

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Prescott Second Home
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Kay Carlson Realtor in Prescott discusses what a buyer's agent does

While looking for your new home, you may have heard of seller's agents, listing agents, and buyer's agents. If you're a buyer, it's helpful to know what a buyer's agent is. Essentially, a buyer's agent has your objective as their sole priority. Kay Carlson Realtor wants you to know how a buyer's agent can help you in finding and negotiating the purchase of your new Prescott home.

Here are some of the things a buyer's agent can do:

• Find the right property         
• Negotiate the offer
• Recommend other professionals         
• Help overcome setbacks

But a seller's agent can do all those things, too. So what's the difference between the listing agent (seller's agent) and the buyer's agent?

• Buyer's agents are legally bound to help buyers. That’s it. The seller's agent (aka listing agent) has a legal obligation, a fiduciary responsibility, to the seller - but not to the buyer. Think in terms of hiring an attorney. Would you want the attorney representing the person suing you to be your attorney, too? No! You need someone whose sole commitment is to act in your best interest and protect your rights.

• Any opinion you have about a prospective property that might affect the sale, or any advantage you might have in the negotiations that you disclose to the seller's agent in confidence is not protected. But your exclusive buyer's agent is obligated to keep your comments confidential so that they can't be used against you. “We love this house and just have to have it” is something you wouldn’t want the seller’s agent to know. If you have a buyer’s agent representing you, you can expect that information to be kept confidential.

If you're ready to search for your new Prescott home and want the benefits of hiring an agent devoted to your goals and committed to your best interests, pick up the phone today and call Kay Carlson Realtor at 928-710-4193. Visit http://www.prescottinvestmenthomes.com for more information.

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