Hear how to convert more contacts into clients on today’s Real Estate Rockstars with Eric Perez! Eric is the COO of a top real estate team and has identified what matters most when it comes to boosting conversion rate. In addition to sharing these metrics with listeners, Eric outlines strategies for improving each and every one of them. Plus, he offers recommendations for CRMs, content-creation tools, and more. Don’t miss it!
Listen to today’s show and learn:
“Big ticket syndrome” and measuring agent efficiency [3:08]
Focusing on the metric that matters most: conversion [5:16]
How to start tracking your conversion rate [7:11]
The best time to connect with potential clients [9:50]
Tips for increasing your talk time with prospects [12:23]
Leading with value [16:52]
Average contacts per closed deal in 2023 [18:38]
CRM recommendations [22:00]
The consumer journey [23:28]
AI tools for help with content creation [29:58]
Where to find virtual assistants [31:43]
What you must do as a team leader [36:07]
The type of person best suited for a real estate career [40:22]
Where to find and follow Eric Perez [44:58]
Eric Perez
Eric Perez is a seasoned professional in the realm of business operations, currently holding the position of Chief Operations Officer for the Figueroa Team. His academic journey took root in the field of computer science at the University of Central Florida, where he honed his expertise in understanding the intricate interplay between data analytics and agent behavior within the dynamic landscape of hospitality enterprises.
Eric’s academic pursuits culminated in a specialized focus on the impact of agent behavior on sales performance, shedding light on the pivotal role that finely tuned operational strategies play in achieving sustained success.
Beyond the office setting, Eric’s dedication to excellence finds expression in his passion for jiu jitsu. In his leisure moments, he invests his time in mastering this intricate martial art, showcasing a commitment to discipline and continuous improvement that seamlessly aligns with his professional ethos.
In addition to his professional and athletic pursuits, Eric finds solace and joy in the companionship of his Siberian companion, Leonidas. This bond symbolizes his appreciation for loyalty, companionship, and the balance that life’s multifaceted journey demands.
With a blend of strategic acumen, a thirst for mastery, and a penchant for cultivating meaningful connections, Eric Perez exemplifies the convergence of dedication and proficiency in both the corporate and personal spheres of life.
Related Links and Resources:
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Building your dream home in Oregon is an exciting journey, shaped by the state’s diverse landscapes – from Portland’s urban scenes to the serene Willamette Valley.
This Redfin article is curated with insights from seasoned Oregon builders, and navigates you through essential steps. From local building codes to sustainable practices, these practical tips empower effective project management, bringing your vision of an Oregon home to life.
7 essential pre-build tips for your Oregon home
1. Set a realistic budget for your Oregon build
Building your dream home in Oregon requires careful budgeting due to the state’s cost variations. Researching current prices for land purchase, design, permits, construction, and interior finishes is crucial. For land, costs range from $10,000 to $150,000+ per acre based on location. Design and permitting fees can be $5,000 to $20,000 and $1,000 to $5,000, respectively. Construction costs vary from $150 to $350+ per square foot. Interior finishes, including basic ($20,000 – $50,000), mid-range ($50,000 – $100,000), and high-end ($100,000+), add to the budget.
These estimates are general, so consulting local professionals is essential. Be mindful of unforeseen expenses and market fluctuations, ensuring a well-prepared budget for your Oregon home construction.
2. Make sure you account for Oregon’s climate
Building in Oregon requires meticulous consideration of its diverse climate, ranging from coastal to mountainous regions. Collaborate closely with your builder to create a weather-conscious construction schedule, accounting for variations in rainfall and snowfall. Coastal areas like Astoria experience higher precipitation, while desert regions like Bend are drier. Plan construction activities during the drier seasons, typically summer and early fall, to avoid weather-related delays.
Be proactive in protecting materials from rain and snow, and maintain flexibility in your schedule due to Oregon’s unpredictable climate. Regular communication with your builder is crucial for a successful and adaptable construction process.
3. Be informed about Oregon’s building codes and regulations
Understanding Oregon’s diverse regions involves navigating specific building codes tailored to each area. In coastal regions like Newport, emphasis on structural resilience against storms may require reinforced roofing and foundations. Wildfire-prone areas, such as parts of Southern Oregon like Medford, demand adherence to fire-resistant building standards, influencing material choices and landscaping practices. Cities like Portland, located near fault lines, necessitate compliance with seismic design codes for earthquake resilience.
Stay informed about local regulations. Tailoring your understanding of building codes ensures compliance with local regulations and addresses the unique environmental challenges of your chosen Oregon location. Regular consultations with local authorities and experienced builders provide valuable insights into region-specific codes for a successful construction process.
4. Conduct thorough contractor research and get local expertise
Building in Oregon’s competitive construction industry requires meticulous contractor research. Verify track records, experience, and reputation to ensure the selected contractors are licensed and bonded, providing a safety net for homeowners. For example, when building in regions like Eugene or Bend, leverage local expertise. Local builders possess insights into environmental challenges, permitting nuances, and regional hazards, contributing to a smoother construction process.
This regional knowledge ensures contractors are well-prepared to navigate the specific demands of each area, from eco-friendly considerations in Eugene to high desert challenges in Bend. Regular consultations with local builders and authorities enhance your understanding and facilitate informed decisions throughout the construction journey.
5. Look into builder associations and certifications in Oregon
While general contractor licensing isn’t mandatory, affiliations with associations like the Oregon Home Builders Association can signify commitment to quality. Certifications, such as Earth Advantage, highlight a builder’s dedication to sustainable practices.
6. Choose the right location
Oregon’s diverse landscapes demand thoughtful location selection. Whether it’s the urban vibrancy of Portland or the tranquility of Bend, factor in climate, terrain, and local regulations to align your choice with your lifestyle.
“Constructing a home in Central Oregon comes with unique challenges, notably the region’s unpredictable daily weather,” insists website design company Mooney Marketing. “The weather can swiftly transition from sunny skies to snowfall within minutes. To navigate this, we strategically oriented our house to face South, maximizing sunlight in winter, and adjusted our roof pitch to direct snow away from the driveway. This thoughtful planning is essential, especially considering that snow can persist in our yard until May. If you appreciate cold weather and snow, Central Oregon is an ideal location for your home.”
7. Employ sustainable building practices
Embrace Oregon’s commitment to sustainability with eco-friendly options. Explore features like solar panels, rainwater harvesting, and native landscaping to create an environmentally conscious and efficient home.
“Sustainability in Central Oregon goes beyond trend – it’s a commitment to environmental consciousness and energy efficiency,” asserts Oregon tiny house builders Spindrift Homes. “We embrace eco-friendly construction by using materials with minimal ecological impact, including locally sourced and reclaimed options. We integrate energy-efficient technologies, such as solar panels and advanced insulation, to reduce long-term energy consumption. This reflects Central Oregon’s dedication to a resilient and eco-conscious built environment, harmonizing modern development with environmental preservation in this picturesque region of the United States.”
9 construction and design tips to consider
1. Embrace sustainability and resilience
“Oregonians prioritize sustainable construction, drawing inspiration from lush landscapes and a commitment to environmental stewardship,” shares construction company Kimball Construction. “The diverse climate necessitates careful material consideration for resilience against rain and heat. Homes often embody the Pacific Northwest aesthetic, featuring local wood and expansive windows for abundant natural light. Navigating stringent building codes, particularly in earthquake-prone areas, underscores the emphasis on safety and durability. Building in Oregon is a harmonious blend of innovation, nature, and community values.”
2. Blend indoor comfort with outdoor beauty
When integrating indoor and outdoor spaces in Oregon, a key tip is to focus on creating a seamless transition between the two. This can be achieved through the use of large glass doors or retractable walls that open up to an outdoor living area. Incorporating similar flooring materials both inside and outside can also enhance this sense of continuity. Additionally, consider the use of covered patios or decks that provide protection from Oregon’s rainy weather, while still allowing for an outdoor experience.
“Our focus on timeless design, natural light, and smart technology ensures seamless integration of indoor and outdoor spaces,” states Woodland Construction Group.
3. Invest in energy-efficient features
To address Oregon’s diverse weather, prioritize energy-efficient features tailored to specific regions. In rainy cities like Portland, focus on well-insulated walls to combat moisture. Optimize natural light and insulation with energy-efficient windows. In colder areas like Bend, invest in a high-efficiency HVAC system for effective heating. Enhance sustainability by incorporating solar panels, particularly in eco-conscious regions like Eugene.
Consulting with local energy experts ensures a region-specific approach, contributing to both your home’s resilience and Oregon’s environmental goals.
4. Use durable construction materials for Oregon’s varied climate
Given Oregon’s weather conditions, characterized by frequent rain and occasional storms, prioritize durable building materials that can withstand these elements. In coastal areas like Cannon Beach, where exposure to salt air is a factor, consider materials like cedar siding known for its resilience against moisture and pests. Additionally, in Bend, where snowfall is common, metal roofs provide durability and effective snow shedding.
These materials not only ensure longevity but also demand minimal maintenance, making them ideal choices for Oregon’s varied climates.
5. Prepare for rainy seasons
During Oregon’s rainy seasons, proactive measures are essential to mitigate water-related risks and fortify your home against potential issues. Implement strategic landscaping solutions, such as graded slopes away from the foundation, to facilitate proper water drainage. Consider integrating rain gardens, especially in regions like Salem, to absorb excess water and prevent soil erosion. Well-placed drains, particularly in cities like Astoria with higher rainfall, further contribute to effective water management around your property.
By incorporating these measures, you enhance your home’s resilience, ensuring it remains safeguarded during Oregon’s periods of increased rainfall.
6. Employ fire resilient building strategies
Bend’s new west-side neighborhood Discovery West shares “we employ cutting-edge building practices to fortify the resilience of homes located near the wildland-urban interface, particularly in response to the escalating threat of wildfires driven by climate change. Striking a balance between aesthetics and safety, our community employs key fire mitigation techniques, including meticulous material choices in landscaping and construction, incorporation of fire-resistant plants, strategic tree spacing, and the implementation of small vent screen openings to reduce the risk of embers infiltrating homes.”
7. Add native plants to your landscaping
Elevate your property’s aesthetics while contributing to conservation efforts by integrating native Oregon plants into your landscaping. In regions like Medford, consider drought-tolerant choices such as manzanita and yarrow. These plants not only enhance visual appeal but also adapt well to Oregon’s varying climates, ensuring a sustainable and low-maintenance landscape. Consulting with local horticulturists provides insights into additional native species that thrive in your specific Oregon location.
8. Design a home that is in tune with Oregon’s environment
“Harmonize your home with its natural surroundings by incorporating native landscaping, embracing natural color palettes, and aligning with the neighborhood’s aesthetic,” shares custom home builders Rogue Brothers Construction. “The key lies in choosing an architect and builder with the expertise to bring your dream to life. Collaborating as a team with your architect and builder ensures your home not only withstands the elements but also enhances the beauty of its environment.”
9. Ensure your home is properly insured
Safeguard your Oregon home by considering insurance beyond the standard coverage. Additional protection against natural disasters like landslides or heavy rains is crucial in this region.
Ready to build your Oregon dream home?
Building a home in Oregon is a rewarding journey, requiring strategic planning and collaboration with local experts. These insights from Oregon builders equip you to navigate the unique challenges of the state, ensuring a successful home construction journey in the heart of the Pacific Northwest.
Indianapolis, IN, is filled with an array of museums that capture this city’s rich history. From the iconic Indianapolis Museum of Art, where nature intertwines with art, to the adrenaline-pumping displays at the Indianapolis Motor Speedway Museum, the city offers a handful of experiences for locals, newcomers, and visitors alike. Whether you’re looking to rent an apartment in Indianapolis or purchase a home in the area, these museums collectively bring knowledge, creativity, and inspiration to a city that’s truly one of a kind. Keep reading below to learn more about 7 fascinating museums in Indianapolis that are worth checking out.
1. The Children’s Museum
Renowned as the world’s largest children’s museum, the Children’s Museum of Indianapolis offers an immersive and interactive experience that blends education with entertainment. Boasting five floors, there are many different exhibits that cater to a diverse range of interests, from science and technology to arts and culture. Visitors can learn more about dinosaurs in the Dinosphere exhibit or explore the cosmos in the SpaceQuest Planetarium.
2. Indiana State Museum and Historical Sites
The Indiana State Museum and Historical Sites pays tribute to the rich history, culture, and natural wonders of the Hoosier State. This institution explores Indiana’s past and present through a range of exhibits and programs. Visitors can delve into the state’s geological evolution, discover the impact of Native American cultures, and trace Indiana’s role in shaping the nation’s history.
3. Indianapolis Motor Speedway Museum
Nestled within the iconic Indianapolis Motor Speedway, the Indianapolis Motor Speedway Museum is a shrine to the world of motorsports. This museum is perfect for racing enthusiasts, offering the history of the famed speedway and the evolution of auto racing. Visitors can learn more about the legendary Indianapolis 500 winners, explore the innovations in race car design, and gain insights into the dramatic moments that have defined the Speedway’s legacy.
4. Indianapolis Museum of Art at Newfields
Nestled on 152 acres of picturesque grounds, the Indianapolis Museum of Art (IMA) at Newfields seamlessly blends art, nature, and architecture to create an immersive experience for visitors. The museum’s collection spans over 5,000 years of artistic expression, featuring pieces from various cultures and time periods. From classical sculptures to contemporary masterpieces, the museum provides a comprehensive journey through the world of visual arts. Beyond its galleries, the IMA boasts stunning outdoor spaces, including the Virginia B. Fairbanks Art & Nature Park, where visitors can check out installations and sculptures.
5. NCAA Hall of Champions
The NCAA Hall of Champions shares the rich history of collegiate athletics. This immersive museum features the stories of student-athletes who have exemplified excellence in their sports and academics. As visitors step into the Hall, they are greeted by interactive exhibits, multimedia displays, and memorabilia that highlight the achievements and dedication of athletes across various NCAA sports. From iconic moments on the field to the triumphs in the classroom, the museum celebrates the holistic journey of student-athletes. A central feature of the Hall is the Hall of Honor, where the accomplishments of outstanding athletes are enshrined.
6. Indianapolis Medical History Museum
Housed within the historic Old Pathology Building on the grounds of the former Central State Hospital, the Indianapolis Medical History Museum offers a glimpse into the evolution of medical science and psychiatric care. Housed in a beautifully preserved late 19th-century facility, the museum showcases medicine, history, and mental health. Visitors can wander through laboratories, pathology classrooms, and anatomical pathology museum, gaining insight into the medical practices of the past. The museum’s collection includes medical artifacts, equipment, and specimens, shedding light on the progress and challenges faced by healthcare professionals throughout history.
7. The Eiteljorg Museum
Named in honor of businessman and philanthropist Harrison Eiteljorg, The Eiteljorg Museum celebrates the diverse stories of Native American people and the art of Western and Native contemporary artists. Boasting an impressive collection of Western and Native American art, artifacts, and contemporary works, visitors can explore exhibits that delve into the intricacies of Native American cultures, the beauty of Western landscapes, and the dynamic fusion of traditional and contemporary artistic expressions.
If you’re learning about the investing world, you might come across the term ‘index fund’ as they are a trendy way to invest these days.
Investing powerhouses like Warren Buffett and Tony Robbins wholeheartedly recommend investing in index funds. In fact, LeBron James recently asked Buffet for investing advice on CNBC, and Buffett said James couldn’t go wrong with investing in them for 30 or 40 years.
What is an index fund?
An index fund is a type of investment vehicle, available as either a mutual fund or an exchange-traded fund (ETF), that is designed to track a specific financial market index. Its goal is to replicate the performance of indices like the S&P 500 or Dow Jones Industrial Average.
How do index funds work?
Index funds achieve their goal by mirroring the composition of the index they track. This involves including a range of stocks or bonds in their portfolio that match those in the index, providing investors with diversified market exposure. The fund’s performance is directly tied to the performance of the tracked index, offering a balance of risk and return influenced by the overall market segment.
Index Funds vs. Mutual Funds vs. ETFs: Understanding the Differences
Index Funds: The Basics
Index funds are passively managed and aim to mirror the performance of a specific market index. They offer a diversified portfolio at a low cost, aligning closely with market returns.
Mutual Funds: Active Management
In contrast, mutual funds are often actively managed. Fund managers actively buy and sell stocks or bonds, attempting to outperform the market. This strategy incurs higher fees and presents a greater risk, but also the potential for higher returns.
Exchange-Traded Funds (ETFs): A Hybrid Approach
ETFs combine features of both index funds and mutual funds. Most ETFs are passively managed, like index funds, but they trade on stock exchanges, similar to individual stocks. This provides greater liquidity and trading flexibility. ETFs generally have a lower expense ratio than mutual funds and offer tax efficiency due to their unique trading structure.
Key Differences in Trading
A significant difference between index funds and ETFs is their trading mechanism. Index funds are traded at the end of the day based on their net asset value (NAV), while ETFs are traded throughout the day at market prices, offering more flexibility for investors.
Understanding Key Stock Market Indexes
Before delving into the world of index funds, it’s crucial to understand the benchmarks they often aim to replicate. Stock market indexes like the Dow Jones Industrial Average, S&P 500, Nasdaq Composite, and Russell 3000 serve as key barometers for the overall health and trends of the financial markets.
These indexes, each with their unique characteristics and components, are essential in assessing market performance and guiding investment strategies. In the following section, we will explore each of these prominent indexes in detail, shedding light on their significance and how they influence the composition and performance of various index funds.
Dow Jones Industrial Average
The Dow Jones, often simply called the Dow, is one of the oldest and most well-known stock market indices in the United States. It tracks the performance of 30 large, publicly-owned companies listed on the New York Stock Exchange (NYSE) and the NASDAQ.
The Dow serves as a barometer for the overall health of the U.S. stock market and includes leading companies across various industries, such as technology, finance, and consumer goods.
S&P 500
The Standard & Poor’s 500, commonly known as the S&P 500, is a broader stock market index compared to the Dow. It includes 500 of the largest companies listed on U.S. stock exchanges.
The S&P 500 is widely regarded as the best single gauge of large-cap U.S. equities and is used by investors as a benchmark for the overall performance of the U.S. stock market. The index is diverse, covering multiple sectors, which makes it a popular choice.
Nasdaq Composite Index
The Nasdaq Composite Index represents over 3,300 companies listed on the NASDAQ stock exchange, a global electronic marketplace for buying and selling securities.
This index is heavily weighted towards technology companies, making it a popular measure of the performance of the tech sector. It includes not only large-cap companies but also smaller, innovative firms, reflecting a broad spectrum of the tech industry.
Russell 3000
The Russell 3000 Index is a market-capitalization-weighted stock market index that aims to be a benchmark of the entire U.S. stock market. It tracks the performance of the 3,000 largest publicly-traded companies in the United States, which represent about 98% of the investable U.S. equity market.
The index is comprehensive and includes both large-cap and small-cap companies, offering a broad view of the U.S. stock market. The Russell 3000 is further divided into the Russell 1000 (large-cap companies) and the Russell 2000 (small-cap companies).
Pros and Cons of Investing in Index Funds
Pros:
Diversification: By investing in an index fund, you gain exposure to a broad array of securities, which mitigates the risk of focusing too heavily on individual stocks or sectors. This diversification is a key advantage, especially for risk-averse investors.
Cost-effectiveness: Index funds are known for their lower management fees, as their passive strategy requires less intervention and research, making them a cost-efficient choice for long-term investment.
Ease of use: These funds are straightforward, ideal for both novice and experienced investors. They eliminate the complexity of selecting individual stocks, providing a simple yet effective investment option.
Consistent returns: Historically, they have demonstrated a consistent performance, often rivaling or surpassing actively managed funds, especially when considering the impact of lower fees over time.
Cons:
Capped growth potential: While index funds aim for market-matching returns, this approach limits the potential for significantly outperforming the market, a possibility in more aggressive investment strategies.
Vulnerability to market shifts: Being tied to market indices, index funds are subject to the ups and downs of the market. During market downturns, these funds will also experience declines.
Static strategy: The passive nature of index funds means they don’t capitalize on short-term market opportunities that active managers might exploit, leading to potential missed gains.
Performance deviation: Some tracking error is possible in index funds, where the fund’s performance might slightly differ from that of its benchmark index, due to various factors like fund expenses or timing issues.
Overconcentration risk: Certain index funds, especially those weighted by market capitalization, may have significant exposure to larger companies, potentially overlooking smaller, yet promising, market segments.
How to Invest in Index Funds
Investing in index funds can be a straightforward process if you follow these steps:
1. Define Your Investment Goals
Consider what you aim to achieve with your investment in index funds. Are you seeking long-term growth for retirement, or are you interested in short-term gains? Understanding your financial goals will guide your choice of index funds.
2. Conduct Thorough Research
Research various index funds to find the one that best matches your investment goals. Look at factors like company size, geographic focus, industry sectors, and asset types. Remember, even a broad market index fund can offer ample diversification, as suggested by investment experts.
3. Choose the Right Index Funds
When selecting an index fund, prioritize low costs. Even small differences in fees can significantly impact long-term returns. Compare funds with similar objectives, and pay attention to their management costs.
4. Select a Purchase Platform
Decide whether to buy index funds directly from a mutual fund company or through a brokerage. Also, consider ETFs, which are similar to mutual funds but trade like stocks. Assess factors like fund selection, convenience, trading costs, and availability of commission-free options.
5. Make Your Purchase
Open an investment account (such as a brokerage account, IRA, or Roth IRA) to buy shares of the index fund. Determine the amount you want to invest based on your budget and the fund’s share price.
6. Monitor Your Investments
Regularly review your index funds to ensure they are performing as expected and align with your investment goals. Keep an eye on the fund’s fees and performance compared to its benchmark index. Adjust your investments if necessary.
Final Thoughts
Many financial experts, like Warren Buffett, highly recommend index funds as a way to invest. They offer the advantage of being liquid assets, and it may not require a significant amount of money to begin investing in them. Furthermore, as mentioned previously, they typically have low fees.
Index funds are also a conservative way to invest. Because they follow indices made up of many companies, you spread out the risk. If one company in the index has a terrible week, chances are there’s another company doing well enough to balance it out. When you invest in individual stocks with just one company, you don’t have that cushion if a company starts to do poorly.
Of course, as with any investment decision, do your research. Learn as much as you can about them and the costs associated with buying them before investing.
Frequently Asked Questions
Are index funds a safe investment option?
Yes, they are generally considered a safe investment choice. They offer diversification by tracking a broad market index like the S&P 500, which spreads risk across various stocks. This means if one stock underperforms, others may balance it out.
Additionally, their low expense ratios make them a cost-effective option. While no investment is risk-free, index funds tend to provide stable, consistent returns over the long term, making them a favored choice for many investors.
What is the average rate of return on index funds?
There are many index funds, so it’s impossible to list the rate of return as a whole. You can research the history of a particular index fund to see the returns in a specific year. However, it’s more beneficial to look at returns over the long term.
Historically, the market as a whole averages from 7-10% in returns. Some years, like during the 2008-2009 recession, show terrible returns, while others show spectacular returns.
Can you lose money with an index fund?
Yes. When you buy an index fund, you’re investing in the stock market. The market is unpredictable. You could lose money one day and earn money the next. Either way, financial experts still point to index funds as a good investment option, as they usually have substantial long-term returns and low expense ratios.
What is the best index fund?
There are many top-rated index funds. Of course, the best one depends on the timeframe in which one measures it. However, there are some that have shown a strong rate of return with low fees. Here are some examples:
Schwab S&P 500 Index Fund
Fidelity Spartan 500 Index Investor Shares
Vanguard 500 Index Fund Investor Shares
Vanguard Total Stock Market Index
Fidelity Total Stock Market Index
Again, no one knows which funds will perform the best in any given year. However, some of the companies listed above are known for low fees and solid financial products. Take your time to research the best brokerage company for you. Some require very little money to start investing, while others might require a lot more.
How do you make money with an index fund?
You earn money from an index fund primarily through capital gains and dividends. As the fund’s underlying stocks or bonds increase in value, the value of the fund rises, leading to capital gains.
When you sell your fund shares at a higher price than you bought them, you realize these gains. Additionally, many index funds distribute dividends received from the stocks within the fund to shareholders, which can be reinvested or taken as cash payouts.
Can I invest in index funds with a small amount of money?
Yes, you can invest in index funds with a small amount of money. Many of them have low minimum investment requirements, making them accessible to investors with limited capital.
Home appraisals play a crucial role in the real estate process, influencing everything from property financing to sales transactions. Whether you’re a first-time homebuyer or a seasoned real estate investor, understanding the basics of home appraisals is essential. In this guide, we’ll delve into the fundamentals of property valuation, demystifying the appraisal process and shedding light on its significance.
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A home appraisal is an unbiased assessment of a property’s market value conducted by a certified appraiser. The goal is to determine the fair market value—the price a willing buyer would pay and a willing seller would accept in a competitive market. Home appraisals cost anywhere between $300 to $500 and can take as long as a few hours to a few days depending on the condition of your home and the appraiser’s schedule.
Property Inspection:
The appraiser visits the property to assess its condition, size, layout, and overall appeal. They consider both the interior and exterior features, noting any upgrades or repairs.
Comparable Sales Analysis:
Appraisers research recent sales of comparable properties in the neighborhood. They compare factors such as size, age, condition, and location to determine the property’s value.
Market Trends and Conditions:
Appraisers analyze current market trends, considering factors like supply and demand, interest rates, and economic conditions.
Property Condition:
Well-maintained homes generally receive higher appraisals. In other words, if your home has nice curb appeal, updated features, and modern amenities then it’s likely it will get a higher appraisal. On the other side, structural issues or deferred maintenance can negatively impact the valuation.
Location:
Proximity to amenities, schools, and public services can influence and increase your property value. If your home is located in a desirable neighbourhood, within walking distance to shopping and parks then it will generally receiver a higher appraisal.
Comparable Sales:
Recent sales of similar properties in the area are a key factor. Appraisers consider the selling prices, conditions, and features of these comparable homes. The age of your home will also factor into its value.
Upgrades and Renovations:
Upgrades that enhance a property’s functionality and appeal can positively impact its appraisal value. Recent renovations should be accurately documented and communicated to the appraiser such as a finished basement, replaced doors and windows, the addition of a fire pit or outdoor fireplace, and a kitchen or bathroom remodel.
Mortgage Approval: Lenders use appraisals to ensure the property’s value aligns with the loan amount requested by the buyer.
Selling a Home: Sellers benefit from appraisals to set a realistic listing price. An accurate appraisal can facilitate a smoother selling process.
Estate Planning: Homeowners may need appraisals for estate planning, tax purposes, or division of assets.
Real Estate Investments: Investors rely on appraisals to assess the potential return on investment and make informed decisions.
Home appraisals are a critical component of the real estate landscape, providing a fair and impartial evaluation of a property’s value. Whether you’re buying, selling, or investing, understanding the appraisal process empowers you to make informed decisions and navigate the real estate market with confidence.
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HONG KONG, Sept 11 (Reuters) – HSBC Holdings will raise its mortgage rates in Hong Kong by a maximum of 50 basis points, a spokesperson for the bank said on Monday, as it tries to maintain its profit margin amid higher interest rates.
New mortgage loans linked to the Hong Kong Interbank Offered Rate (HIBOR) from HSBC will be increased to as much as 4.125% from 3.625%, effective Sept. 18, according to the spokesperson.
“We have decided to revise our mortgage rate following a recent review, which takes into account a range of factors, including HIBOR, our competitiveness and market pricing,” the spokesperson said in a statement.
The move by the territory’s largest lender weighed on Hong Kong property developers’ stocks on Monday, with the market’s real estate gauge (.HSNP) shedding 3.28%, compared with a 0.58% dip in the benchmark Hang Seng Index (.HIS).
Sun Hung Kai Properties (0016.HK) slumped 9.5% after the Hong Kong property giant reported a 17% decline in underlying profit for the year ended June.
Hong Kong banks, including HSBC, last raised mortgage rates by 25 basis points in December, after Hong Kong’s central bank hiked rates following the U.S. Federal Reserve.
Interest rates in Hong Kong have been on the rise as its monetary policy moves in lock-step with the U.S., as its currency is pegged to the U.S. dollar.
Hong Kong interbank rates also spiked this year. One-month HIBOR , which is the benchmark banks take as a reference for residential mortgages in the city, hit 5.42988% on Aug. 2, the highest since mid-October, 2007.
Private home prices in the city had been declining for three consecutive months by July, official data showed, as high rates and a weak economic outlook weigh on sentiment.
Reporting by Xie Yu,Donny Kwok and Selena Li; Editing by Himani Sarkar and Sharon Singleton
Our Standards: The Thomson Reuters Trust Principles.
Looking to turn your home into a cozy and stylish haven? We’ve got a delightful surprise for you! Prepare to be amazed as we unveil a curated collection of 30 home decor treasures that will elevate your space. From incredibly lifelike artificial plants that bring nature indoors with zero maintenance, to luxurious blankets that add a touch of elegance to your living room, and oh-so-comfortable chairs that beckon you to relax after a long day—this incredible assortment is like investing in a beautiful and comfortable future. With these unique finds from Amazon, you can create an inviting atmosphere that will make your guests wonder how you managed to find such amazing pieces.
Review: “This set was pretty quick to throw together with an extra pair of hands. Everything came securely wrapped and well protected. Perfect budget friendly set!” – jrenken88
amazon.com , jrenken88 Report
Review: “I did not expect the sturdiness that this stand has. It is absolutely beautiful once it’s finished. The wood is thick, there’s nothing flimsy on this thing. The actual fireplace has kept my living room toasty. And this weekend our heat just isn’t keeping up, so I’m so glad it came when it did. We’ve kept the heat on for the whole day and all night before heading to bed and it seems like this thing is quality. The shelves are so deep, I can fit multiple game units and our surround sound w out it looking cluttered. And of course my 4 year old enjoys the different color light show lol. Honestly it upgraded our living room. The tv shown is a 65”, and there’s a lot more space around it and in front of it. Our old stand was half the size holding this tv so really this is an amazing upgrade for us. I’m really in love w the quality and how modern this is. Probably the best thing I’ve bought on amazon. Now my only con. Took me forever to put it together… I had a 4 year old distracting me tho. But there’s ALOT of boxes within boxes and ALOT of styrofoam. I mean a lot lol. So be ready to have a major clean up. Otherwise I would totally recommend this stand. Absolutely gorgeous” – Jujubean
amazon.com , Jujubean Report
Review: “This is a beautiful bust. I have been buying a lot of things to decorate my Latin classroom with and, normally, when the items are this intricate, they are also small, but this busy is both intricately detailed and large. It was actually quite a bit bigger than I expected, but fits beautifully with the rest of my classroom decor. This is, perhaps, the center piece of my classroom.” – Tad
amazon.com , Tad Report
Review: “Ordered it after looking at many more expensive options in the furniture stores, ready to return it if we felt it was lower quality and cheap looking. Arrived today and after a simple assembly we feel it is perfect…very elegant and very sturdy. Replaced the supplied bulb with a smart led and we can now control brightness and color with voice commands. A+” – Flamethrower
amazon.com , Flamethrower Report
Review: “These shelves were perfect for my accent wall in my dining room. They are super easy to hang. I was able to hit the studs for both hooks because they placed them in the right location on the shelf. They are truly authentic with nail holes and even a nail. So cool. 7” is plenty of depth to put accessories on. Worth the money.” – K.Ryan
amazon.com , K.Ryan Report
Review: “This lamp was a great complementary piece for our boho style living room. The natural shade added the perfect touch. It fit well next to our sofa . Great looking lamp for an affordable price . Totally on trend . Good vibe . ” – Amazon Customer
amazon.com , Amazon Customer Report
Review: “This was a great buy. Just what I had been looking for, it’s very sturdy with a slight bit of weight but, not heavy by no means to handle. I’m glad I got it. You won’t be disappointed. The seller definitely did an awesome job on this one and it was packaged very very well and delivered with care. Now to decide where to put put because I want to hang it up on my wall.” – BB
amazon.com , BB Report
Review: “I have bought so many things on Amazon and I do get let down often. This tree exceeded anything I thought I would be getting. The details are perfection. The material is perfection. It came in perfect condition. I simply took it out of the box and placed it in the planter I bought for it then fluffed out the leaves. It was so easy to do by myself. The leaves look so green and real like trees I’m used to in Florida but they don’t grow where I live now. Plus it smelled good. Not like a perfume or anything just clean. – Ciscojrmpswife
amazon.com , Ciscojrmpswife Report
Review: “I am shocked by the value and quality! The Amethyst has a rich purple color and is more than a value, more than! I highly reccomend it!” – Odalisque
amazon.com/ , Odalisque Report
Review: “This rug is perfect for my closet. Stylish, cozy and soft on bare feet yet thin enough for my chair to roll over. Does not slide or shed (as stated in other reviews) and vacuums up well. Have not washed it yet but definitely a great buy!” – Tina
amazon.com , Tina Report
Review: “I wanted something to accompany the 50th Wedding Anniversary Card that I got for my wife. There would be plenty of real flowers, a family celebration and many gifts. I wanted something simple yet permanent that would stand out in our already filled China Cabinet. This is perfect. It doesn’t take much space. It is very well done, solid yet delicate. Attractive well made box for storage if need be. It will soon be added to our life-long precious collectibles and will hold its own.” – WallyH
amazon.com , WallyH Report
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Review: “I ordered this rug in the Grey/Brown color option. It is perfect for tying my brown wood furniture and dark grey floors together. It is also a great color/pattern combo for hiding any little spills my toddler or dog might have. The thickness is enough that it is comfortable and padded underfoot, but not thick enough for a lot of crumbs, dirt, hair, etc. to get stuck in the fibers. It definitely can be vacuumed easily. Overall I am very happy with this purchase and buy this rug again for other rooms! The picture shows the rug right out of the bag, so the side is still a little curled. After an hour or so it is already flattening out.” – Scott Hammock
amazon.com , Scott Hammock Report
Review: “Loved that they came in a set, so you know they’re going to be identical. Wonderful size. Tall. Perfect. Note. In order to get the leaves to look like the ad picture: when installing, the leaves are in various sizes and you can put them wherever you’d like. Smaller on the bottom, larger on top, works best. Alternating colors. Initially, they stick straight up. To get the curved look, roll the “leaves” by hand. Do not try to bend the wire between the leaf and the stem. They really do look quite real” – Good
amazon.com , Good Report
Review: “I love this screen. We placed it on our deck for a privacy screen and love it. It is a very versatile screen and I have used it in several places in the house as well. It looks great on the deck as you can see. I ordered 30″ zip ties when I ordered the screen and have used the zip ties to gently secure the screen to the deck posts for windy days. I want to order another!” – Buckleysangel
amazon.com , Buckleysangel Report
Review: “I had a great TV stand that I really liked because it was open. I decided to order this one because the top was going to raise the height of the tv. At the last minute I decided NOT to add the back & the doors so that it would be exactly like the previous one, so I wanted a buyer to know you can leave off the back & doors if you choose & it looks great. When I get bored I change things often, so if I decide to add the back & doors it will be like a different piece of furniture. I am so pleased with this purchase.” – Robinette Fields
amazon.com , Robinette Fields Report
Review: “I was very apprehensive because it was only a two ounce candle pretty small but wow it’s mighty. I understand the price now. I’m going to say buying the 8oz version is going to be totally worth it because this candle lasts a while and you don’t need to leave it on for long and the smell will Permeate the entire area and it’s very strong. I would also say this is a great gift for anyone and especially for a masculine man.” – That One Girl
amazon.com , That One Girl Report
Review: “The quality of these shelves is awesome. And, they are so easy to put together! I chose to get the adjustable option so I could customize my shelves. I chose to leave one shelf out to have a bit more room. And, the price point is right in line with the quality in my opinion.” – Heather Lowery
amazon.com , Heather Lowery Report
Review: “Very realistic. Soft. Very lux looking. True to color. Great size for the sofa. I have yet to clean this but my hunch would be to avoid tumble drying. I purchased primarily for the look. Not to actually use as a blanket. So far no shedding. I’m in love with this throw. Excellent accessory to mark the cold season. BUY IT! – Markita
amazon.com , Markita Report
Review: “These three coffee tables are so beautiful and came in much larger than I expected. It really fits in a large living room. The install was straightforward but due to the arch we had to spend sometime lining the holes up. I love these coffee tables in the living room!” – Janice
amazon.com , Janice Report
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Review: “Got two of these for dorm room and was pleasantly surprised by the weightiness of the mirrors. It is a solid, sturdy piece and I feel confident it will still be standing at the end of this school year. They look great in the room!!” – Kat
amazon.com , Kat Report
Review: “I bought the 30” and 40” bottle to fill in space next to my entertainment center in the living room. I was pleasantly surprised when they arrived. They were very well packed and when I unpacked them , they were very sturdy and heavy. I loved the look of the recycled glass. – Terry A Stiles
Inside: Are you wondering is Spirit Airlines safe? While Spirit is a low cost option, are their safety measures up to par? This guide dives into their safety procedures and fleet.
When it comes to flying, safety is paramount.
Meet Spirit Airlines, your go-to American low-cost airline.
This leaves everyone wondering is Spirit Airlines safe.
In this post, we will shed light on a question that might have crossed your mind – Is Spirit Airlines safe?
Spirit Airlines, ranked among the world’s top 20 safest airlines, has been a familiar name in the US aviation industry.
Despite its popularity, misconceptions have led some to doubt its safety quotient due to its low-cost airline status.
Rest assured, in this guide, we will delve deep into Spirit Airlines’ safety records and measures, providing you with comprehensive insights on everything you need to know before choosing them for your journey.
Be it their passenger safety awareness initiatives, effective communication strategies, or impressive safety accreditations, we’re aiming to equip you with data-backed information to help you make an informed decision, allaying any concerns you might have about flying with Spirit Airlines.
Is Spirit Airlines Safe?
Yes, Spirit Airlines is generally safe. It’s just as reliable as any other major US airline, and it has never had a fatal accident since it was founded in 1980.
Spirit Airlines ensures rigorous training for its crew members and pilots to handle various situations efficiently.
Remember, while no airline can guarantee a 100% incident-free flight, Spirit Airlines maintains high safety standards.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Spirit Airlines Safety Record
Maintaining an exceptional safety record is vital to any airline, and Spirit Airlines is no exception. Their commitment to passenger safety is reflected in their pre-flight safety briefings, proactive lines of communication, and strategic safety initiatives. IATA’s assertion that ranking an airline’s safety based on customer reviews is flawed reinforces the credibility of Spirit Airlines.
We delve deep into the safety record of Spirit Airlines, shedding light on their dedication to passenger safety, and the successful strategies they have implemented. A key point here is the absence of significant safety incidents within the past decade.
1. Airline Safety Rating
Safety ratings reflect an airline’s safety record and compliance with aviation standards – they’re pretty crucial when choosing who to fly with.
For Spirit Airlines, the rating is impressively high!
Certification: Spirit holds an Air Operator Certificate from the FAA (source).
Safety record: Even though they’ve had a few emergency landings, Spirit has had no fatal accidents in its history (source).
Remember, though, safety isn’t the entire story. Where Spirit excels in safety, the experience is defined by customer satisfaction and services.
2. Safety of the Spirit Airlines Fleet
The Spirit Airlines fleet is composed completely of Airbus aircraft, with the Airbus A319, A320, and A321 among them.
Modern and reliable, the average age of the aircraft Spirit utilizes is merely six years old with their 200th plane just delivered. This relatively youthful fleet is one reason why Spirit is counted among the top 20 safest low cost airlines worldwide.
Additionally, Spirit Airlines is constantly investing in new technology to augment the safety and efficiency of its aircraft. This commitment to safety and innovation is proven through regular inspections, diligent maintenance, and strict adherence to the manufacturer-recommended service schedules.
3. Flight Safety Protocols
Spirit Airlines, a certified member of IATA, takes passenger safety quite seriously despite its low-cost status.
Here are some of the key safety protocols they follow:
The Spirit team is trained for various emergency situations, including necessary medical measures.
For urgent support, passengers can reach out to an agent using the free mobile app developed by Spirit Airlines. This assures on-the-go assistance.
In adherence to FAA rules, Spirit Airlines provides each passenger with a life vest stowed under the seat or between armrests.
Prior to each flight, passengers are made aware of vital safety instructions through pre-flight briefings such as proper usage of safety equipment and emergency actions.
In-flight safety cards are utilized as visual aids to facilitate a better understanding of these safety guidelines.
Spirit Airlines encourages passengers to report potential safety issues for a quick resolution.
Thus, flying with Spirit Airlines is indeed quite safe.
Note that Spirit Airlines operates under stringent rules set by leading regulatory bodies such as the International Civil Aviation Organization (ICAO) and the Federal Aviation Administration (FAA).
4. Safety Training of the Crew
When it comes to air travel, safety is king! One crucial aspect is the training of flight crews.
As such, Spirit has a rigorous training program for pilots and cabin crew. Their focus? Emergency procedures, handling tricky weather, and managing complex flight situations.
Let’s see how Spirit Airlines ensures its crew is well-prepared for any scenario:
Regular simulator training keeps the pilot’s skills sharp. Flying virtual skies means quicker, smarter decisions in the real world.
Spirit doesn’t just hire anyone. They’ve got strict criteria, ensuring only qualified, experienced folks join the team.
Continuous evaluations keep the crew’s performance top-notch. Spirit never stops improving its safety standards.
Onboard safety protocols. Crew members undergo safety classes, learning how to respond during emergencies.
Real-life simulated scenarios are part of the training. Fires, water landings, you name it. Spirit’s crew is ready for action!
That’s Spirit Airlines – keeping you secure, one flight at a time!
5. Pilot Qualifications
Pilot qualifications at Spirit Airlines are stringent to ensure safety and operational efficiency.
Each pilot is required to have a minimum total of 1500 hours in fixed-wing aircraft, however, they prefer 2500 hours. They must possess a current FAA First Class Medical Certificate, an unrestricted Airline Transport Pilot License, and an FCC Radio Telephone Operator Permit. This consolidates their hands-on expertise, their medical fitness for flight duties, and their understanding of complex flight communications.
This rigorous screening guarantees that passengers are in the hands of highly skilled professionals capable of managing various flight scenarios.
Also, the good news, they have increased their pilot pay, which attracts higher-quality candidates!
6. Emergency Landing Procedures
Emergency landing procedures are rigorously implemented and followed to ensure the safety and well-being of Spirit passengers.
In the event of an unforeseen complication or hazard, such as equipment failure, bird strikes, or detection of smoke or unknown odors on the aircraft, an emergency landing may be necessitated. Emergency landings can also happen due to severe weather turbulence that can potentially lead to risks during a flight.
Spirit Airlines has a commendable safety record, often resorting to these emergency landings as a safety measure to keep the passengers safe.
Despite having to make a few emergency landings over the past thirty years, it is noteworthy that Spirit has not faced any fatal accidents or crashes during this period.
7. Safety Checks of the Airplanes
Safety checks are the lifeline of any airline industry, making sure your travel from point A to B is as safe as can be.
When you’re traveling with Spirit Airlines, these safety measures are taken to a whole new level.
First and foremost, seasoned mechanics inspect the Spirit aircraft from top to bottom. They check every little component – inspecting engine performance to the seat pitch, ensuring everything functions as it is supposed to.
Moreover, they keep a keen eye on the boarding processes, ensuring the necessity and safety protocols are met to precision. These inspections are not just occasional but happen on-ground prior to every takeoff. This allows any issues spotted during preflight checks to be rectified before the plane leaves the ground.
No stone is left unturned when it comes to the training of Spirit’s staff. The staff undergoes intensive training sessions to equip them with the aptitude to handle unexpected in-flight situations promptly and efficiently. It’s the people behind the scenes who add to your safety during a flight after all.
Remember, when flying Spirit, your safety isn’t just a priority, it’s their mission.
My Experience Flying Spirit Airlines
Flying with Spirit Airlines may be a basic experience, but it’s honestly not all bad. It’s an unpretentious, no-frills airline that delivers exactly what you’re paying for–a cost-effective flight.
Personally, I don’t get why Spirit gets a bad rap because every flight I have taken with Spirit Airlines has always been a good experience.
The cleanliness and modern simplicity of the newly operated Airbus are clean, but the seats remind you of any lack of luxury. Punctuality was another impressive aspect, as both my flights arrived right on schedule, if not a bit earlier.
Many people complain about the absence of an in-flight entertainment system, but it doesn’t affect me as my kids and I were well-prepared with my personal entertainment on my phone and a book as a constant companion – one of my many travel essentials.
Most importantly, Spirit Airlines offers the advantage of budget travel, making it possible to explore more without a steep dent in the wallet.
Personally, I never pay for the extras like seat assignments and carry-on items, so being aware and planning ahead saves you from any surprises.
More often than not, I will purchase the Savers Club as the price to join lowers the airline ticket cost by more than the membership.
Also, I love that Spirit Airlines flies into the newer and much larger terminal at San Diego International Airport!
Pros And Cons of Flying Spirit Airlines
Looking for a cost-effective alternative for your air travel? Spirit Airlines might be the right choice.
Pros of Flying with Spirit Airlines:
Cons of Flying with Spirit Airlines:
– Budget-friendly fares – offers some of the lowest fares in the industry. – Booking is made easy through both Spirit.com and Spirit mobile app. – It owns one of the youngest, most fuel-efficient fleets in the U.S. – Has commendable safety ratings. – Offers the ability to choose your seat for a fee. – Spirit Airlines generally runs on time. In fact, sometimes you may find flights landing slightly early. – Plane hygiene is one area where Spirit does not compromise. They use mostly new Airbuses, ensuring clean and modern interiors. – Most travelers have spoken favorably about the ground and flight crews of Spirit Airlines. They seem to go above and beyond to make passengers comfortable.
– Extra charges apply for baggage. Remember, due to their low-cost model, Spirit encourages minimal luggage. – Upgrading your seat doesn’t offer any additional services. – No free meals or drinks are provided during the flight. You will need to purchase these. – Seats may be uncomfortable for some passengers. – Limited free flight cancellation or rescheduling options. – Lack of legroom could potentially hamper your comfort, especially if you’re tall or traveling long distances. – No inflight entertainment systems. – Overhead space may be limited, and you might have to pay extra for more significant carry-ons.
Finally, if budget is a priority, Spirit Airlines has you covered. The airline offers highly economical options for both domestic and international travel.
You may come across mixed customer reviews regarding Spirit’s customer service. Make sure you come with the right expectations for a budget airline.
Why is Spirit so cheap?
Why is Spirit Airlines so cheap, you ask? The answer lies in their unique business strategy.
Non-ticket revenue: They adopt a budget-friendly strategy by charging extra for add-ons like seat selection, carry-on bags, and in-flight food and beverages. According to their 2022 financial reports, over half of Spirit’s total revenue per passenger comes from these non-ticket avenues.
Streamlined fleet: Unlike other airlines operating different types of aircraft, Spirit keeps it simple with just one family of aircraft – the Airbus. This significantly cuts down on training and supply chain expenses.
Save on Baggage: You can easily skip checking a bag if you pack everything in your carry-on. Or invest in my favorite seven-pound luggage to save on checked baggage fees!
It’s this clever business model that helps Spirit offer those unbeatable low fares.
FAQ
Yes, it is safe to fly with Spirit Airlines. They have a solid safety record and have never had a fatal incident in their history.
They use modern, digitally enhanced aircraft which provide risk-free journeys.
Despite minor concerns, overall Spirit Airlines offers a safe and affordable travel option. Most people flying Spirit Airlines may not be concerned with how much cash can you fly with!
Both Spirit and Delta Airlines are reputed for their robust safety measures and procedures, each being FAA-certified and upholding the safety standards set by the Federal Aviation Administration.
Spirit ranks among the world’s top 20 safest airlines, while Delta, with its long-standing history of nearly 100 years, may be perceived as marginally safer due to its established stature.
However, it’s important to note that both airlines are committed to ensuring passenger safety and regularly maintain their fleets to guarantee this.
No, Spirit Airlines doesn’t have a bad safety record.
Spirit Airlines has never had a fatal accident in its history.
It was ranked as one of the safest low-cost airlines globally by JACDEC.
Conclusion: Is Spirit Airlines Safe?
In conclusion, your concerns about Spirit Airlines’ safety may be a bit exaggerated.
Spirit Airlines ranks among the top 20 low cost safest airlines.
Over the past decade, Spirit has demonstrated a strong safety record, showing its dedication to passenger safety.
Safety protocols and equipment are prioritized, with crew members undergoing rigorous training to handle diverse scenarios.
Spirit operates with newer aircraft, a move applauded by travel professionals as a cost-effective safety measure.
There have been some criticisms, like limited flight options and cancellations, which should be taken into account in travel planning.
Thus, while no airline can promise absolute safety, Spirit certainly takes measures to ensure passenger well-being.
Don’t forget to get your Amazon travel must haves before your flight!
About Spirit Airlines
Originally established in 1980, Spirit is based out of Miramar, Florida, making the world a little smaller with 60+ destinations across the U.S., Central America, South America, and the Caribbean.
They have established themselves as the low-cost, no-frills airline.
What can you expect when flying with Spirit?
It offers a “Free Spirit” frequent flyer program where you can rack up reward points and exchange them for perks like seat selection and baggage check-ins.
Different seating options to suit your comfort; you can pick Economy Class, Big Front Seats, or Exit Row Seats.
They got your in-flight hunger covered with a variety of snacks and drinks for purchase.
Always stay connected with their Wi-Fi services on specific aircraft.
When flying with Spirit, you can expect strict adherence to their baggage weight and size policies. It’s crucial to be familiar with these restrictions and pack accordingly to prevent any airport hassles.
Got a problem? Their customer support is just a call or email away, round the clock.
So, grab your ticket today and experience a journey filled with comfort, convenience, and cost-efficiency.
Know someone else that needs this, too? Then, please share!!
Colorado’s breathtaking landscapes, from the soaring Rockies to the expansive plains, draw homebuyers seeking a piece of its natural beauty. Yet, diving into the real estate market here is not without its complexities. At the forefront of a successful home purchase is the crucial step of the home inspection. This process, pivotal in identifying potential issues and ensuring a sound investment, can often be daunting for prospective buyers.
In this comprehensive Redfin guide, we’ll help you navigate the ins and outs of Colorado home inspections, shedding light on the essential considerations for ensuring your Rocky Mountain property is a secure and wise investment. So whether you’re buying a house in Denver or exploring homes in Colorado Springs, keep reading to learn everything you need to know about getting a home inspection in Colorado.
Why should you get a home inspection in Colorado?
“Getting a home inspection in Colorado is crucial for both buyers and sellers,” says Bryan Persons of Brian Persons Front Range Home Inspections. “As a Certified Master Inspector serving Northern Colorado for over 20 years, I’ve observed that Colorado’s diverse climate and unique geological conditions can impact a property’s structural integrity, foundation, and systems. An inspection helps ensure transparency, uncover potential issues, and facilitates informed decisions in this dynamic real estate market.”
“A great reason for homebuyers in Colorado to get a home inspection is to gain leverage in the negotiation process,” says Mark Jones of Top Choice Inspectors. “When you understand what repairs might be needed currently or in the next few years, your real estate agent can use this information to improve the asking price and get you the best possible offer.”
Are there any specialized inspections that Colorado buyers should consider?
Given Colorado’s unique geography and climate, there are specialized inspections that homebuyers might consider in addition to the standard home inspection. The state’s diverse terrain, ranging from high-altitude mountains to semi-arid plains, can present specific challenges to structures. For instance, in mountainous regions, inspections for snow load capacity on roofs might be pertinent. In areas prone to wildfires, a thorough inspection for fire-resistant materials and landscaping could be beneficial.
Additionally, radon testing is recommended statewide due to the natural uranium breakdown in the ground. “Radon, commonly found in Colorado, poses a health risk due to its potential to cause lung cancer,” says Ruben Rojo of Villa Vista Inspection Services. “Similarly, the importance of sewer scopes as a hidden but vital house system inspection should not be overlooked, as detecting problems could save significant expenses. When purchasing a home, it’s crucial to consider both of these additional services.”
Are home inspections required in Colorado?
While not mandatory, they’re highly recommended. Assessing a property’s condition can prevent surprises post-purchase. Knowledge is power in real estate transactions.
“Home inspections are not required for buyers in the state of Colorado, and many buyers in the last few years have waived inspection objections due to competitive markets, says Doug Fast of Quality Building Inspections. “That said, it certainly is a wise choice to still have the property inspected as a trained home inspector can find functional or structural concerns that may not be apparent to the typical home buyer.”
How much does a home inspection cost in Colorado?
“The cost of a home inspection in Colorado can vary based on factors such as the square footage of the home, its age, location, and the specific services you can add to the inspection,” says Jeremiah Killebrew, owner of 5280 Property Inspections. “On average, you can expect to pay somewhere in the range of $300 to $600 for a standard home inspection. However, keep in mind that these figures are approximate and can vary.”
Can you sell a house in Colorado without an inspection?
While it’s not legally required to conduct a home inspection when selling a house in Washington, it’s strongly advisable for both sellers and buyers. A pre-listing inspection can help sellers identify and address potential issues upfront, increasing the property’s appeal and potentially leading to a smoother transaction. It can also help build trust with prospective buyers. Ultimately, while it’s not mandatory, a home inspection in Washington is a prudent and customary practice to ensure transparency and minimize surprises during the selling process.
Expert advice for buyers and sellers getting a home inspection in Colorado
“If a home inspector finds an issue with a home, they will recommend that you have a professional engineer look at the issue,” says Tony Evans of Encompass LLC. “Some professional engineers also provide home inspections.”
Michael Wiemals from Cottage 2 Castle and Ben Cobian of 5 Star Home Inspections recommend having your home inspected by a nationally licensed home inspector. Not all Colorado inspectors are licensed, but those that are, will be less likely to overlook major concerns during an inspection.
“Colorado does not require a license and getting through a 90-hour online certification course does not ensure your inspector is capable of properly inspecting a home,” adds Wede Hunsinger of Aspire Property Inspections. “It’s important to make sure your inspector has a background in construction with at least 5 years experience or engineering.”
“Never skip a home inspection, says Brent Fletcher of Fletcher’s Home Inspections. “The state of Colorado does not require any certifications to be a home inspector. When searching for a home inspector, ask if they are certified and remember, the cheapest inspection is not the best option.”
Getting a Colorado home inspection: the bottom line
In the picturesque landscape of Colorado, ensuring the integrity of a property is paramount for both buyers and sellers. Whether it’s for negotiation leverage, health concerns like radon, or cost-effective issue detection, home inspections are a key step in the homebuying process.
A key indicator of excess liquidity in the financial system has been falling since May, a development that holds promise for banks but raises questions for financial stability.
The Federal Reserve’s overnight reverse repurchase agreement, or ON RRP, facility has seen usage decline from nearly $2.3 trillion this spring to less than $1.7 trillion through the end of August, its lowest level since the central bank began raising interest rates in March 2022.
For banks, this was a desired outcome of the Fed’s effort to shrink its balance sheet. As the central bank allows assets — namely Treasuries and mortgage-backed securities — to roll off its books, its liabilities must decline commensurately. The more of that liability reduction that comes from ON RRP borrowing, the less has to come out of reserves, which banks use to settle transactions and meet regulatory obligations.
“What we’ve seen is the decline in the Fed holding has mostly come through on the liability side in terms of a decline in reverse repos, rather than reserves,” Derek Tang, co-founder of Monetary Policy Analytics, said. “This is, of course, welcome news to the Fed, because the Fed wants to make sure that there are enough reserve balances in the banking system to operate smoothly. So that’s good news.”
Yet, as participation in the ON RRP — through which nonbank financial firms buy assets from the Fed with an agreement to sell them back to the central bank at a higher price the next day — shrinks, some in and around the financial sector worry that funds are being redirected to riskier activities.
Darin Tuttle, a California-based investment manager and former Goldman Sachs analyst, said the decline in ON RRP usage has coincided with an uptick in stock market activity. His concern is that as firms seek higher returns, they are inflating asset prices through leveraged investments.
“I tracked the drawdown of the reverse repo from April when it started until about the beginning of August. The same time that $600 billion was pumped back into the markets is when markets really took off and exploded,” Tuttle said. “There’s some similarities there in drawing down the reverse repo and liquidity increasing in the markets to take on excessive risk.”
The Fed established the ON RRP facility in September 2014 ahead of its push to normalize monetary policy after the financial crisis of 2007 and 2008. The Fed intended the program to be a temporary tool for conveying monetary policy changes to the nonbank sector by allowing approved counterparties to get a return on unused funds by keeping them at the central bank overnight. The facility sets a floor for interest rates, with the rate it pays representing the first part of the Fed’s target range for its funds rate, which now sits at 5.25% to 5.5%.
For the first few years of its existence, the facility’s use typically ranged from $100 billion to $200 billion on a given night, according to data maintained by the Federal Reserve Bank of New York, which handle’s the Fed’s open market operations. From 2018 to early 2021, the usage was negligible, often totaling a few billion dollars or less.
In March 2021, ON RRP use began to climb steadily. It eclipsed $2 trillion in June 2022 and remained above that level for the next 12 months. Uptake peaked at $2.55 trillion on December 30 of last year, though that was partially the result of firms seeking to balance their year-end books.
While it is difficult to pinpoint why exactly ON RRP use has skyrocketed, most observers attribute it to a combination of factors arising from the government’s response to the COVID-19 pandemic, including the Fed’s asset purchases as well as government stimulus, which depleted another liability item on the Fed’s balance sheet: the Treasury General Account, or TGA.
Regardless of how it grew so large, few expected the ON RRP to ever reach such heights when it was first rolled out. Michael Redmond, an economist with Medley Advisors who previously worked at Federal Reserve Bank of Kansas City and the Treasury Department, said the situation raises questions about whether the Fed’s engagement with the nonbank sector through the facility ultimately does more harm than good.
“The ON RRP, when it was initially envisioned as a facility, was not expected to be this actively used. The Fed definitely has increased its footprint in the financial system, outside of the usual set of counterparties with it,” Redmond said. “The debate is whether that increases financial instability, because obviously it is nice to have the stabilizing force of the Fed’s balance sheet there, but it also potentially leads to counterproductive pressures on private entities that need to essentially compete with the Fed for reserves.”
Fed officials have maintained that the soaring use of the facility should not be a cause for concern. In a June 2021 press conference, as ON RRP borrowing was nearing $1 trillion, Fed Chair Jerome Powell said the facility was “doing what it’s supposed to do, which is to provide a floor under money market rates and keep the federal funds rate well within its — well, within its range.”
Fed Gov. Christopher Waller, in public remarks, has described the swollen ON RRP as a representation of excess liquidity in the financial system, arguing that counterparties place funds in it because they cannot put them to a higher and better use.
“Everyday firms are handing us over $2 trillion in liquidity they don’t need. They give us reserves, we give them securities. They don’t need the cash,” Waller said during an event hosted by the Council on Foreign Relations in January. “It sounds like you should be able to take $2 trillion out and nobody will miss it, because they’re already trying to give it back and get rid of it.”
But not all were quite so confident that the ON RRP would absorb the Fed’s balance sheet reductions. Tang said there have been concerns about bank reserves becoming scarce ever since the Fed began shrinking its balance sheet last fall, but those fears peaked this past spring, after the debt ceiling was lifted and Treasury was able to replenish its depleted general account.
“If the Treasury is increasing its cash holdings, then other parts of the Fed’s balance sheet, other liabilities have to decline and there was a big worry that reserves could start declining very quickly,” Tang said. “The Treasury was going from $100 billion to $700 billion, so if that $600 billion came out of reserves, we could have been in trouble.”
Instead, the bulk of the liabilities have come out of the ON RRP, a result Tang attributes to money market funds moving their resources away from the facility to instead purchase newly issued Treasury bills.
The question now is whether that trend will continue and for how long. While Fed officials say the ON RRP facility can fall all the way to zero without adverse impacts on the financial sector, it is unclear whether it will actually reach that level without intervention from the Fed, such as a lowering of the program’s offering rate or lowering the counterparty cap below $160 billion.
A New York Fed survey of primary dealers in July found that most expected use of the ON RRP to continue falling over the next year. The median estimate was that the facility would close the year at less than $1.6 trillion and continue falling to $1.1 trillion by the end of next year.
Those same respondents also expect reserves to continue dwindling as well, with the median expectation being less than $2.9 trillion by year end and roughly $2.6 trillion by the end of this year. As of Aug. 31, there were just shy of $3.2 trillion reserves at the Fed.
“The Fed’s view is that there are two types of entities with reserves, the banks that have more than enough and they don’t know what to do with, and the ones that are having some problems and need to pay up to attract deposits, which ultimately are reserves,” Redmond said. “When there are fluctuations in reserves, it’s hard to tell how much of that is shedding of excess reserves by banks that are flush with them, and how much is a sign that this is going to be a tougher funding environment for banks.”
Tuttle said a balance-sheet reduction strategy that relies on a shrinking ON RRP is not inherently risky, but he would like to hear more from the Fed about how it sees this playing out in the months ahead.
“We have gotten zero guidance on the drawdown of reverse repo,” he said. “Everything is just happening in the shadows.”