Fri, 20 Mar 2015 14:46:25 +0000 en-US hourly 1 Jacksonville Real Estate Agent Explains What it Takes to be the Best Fri, 08 Aug 2014 14:18:11 +0000 stephenkrain [...]

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Original Article:

Written By: Andrew Thurlow

Kyle Passkiewicz of Watson Realty Corp. is always looking for a new niche in the market.

“As a broker, you need to always be changing your target demographics,” said Passkiewicz, who was recently named as one of the top real estate agents in the country by Real Trends, a consulting and analytics company.

More than 9,500 agents made Real Trends’ second annual “America’s Best Real Estate Agents” list, which ranks agents and teams by transactions and sales volume in all 50 states and more than 250 metro areas.

Passkiewicz was ranked No. 5 for transactions in the country, with 610 units sold – a feat that also earned him the No. 1 ranking in the state.

“Jacksonville is such a small market compared to a lot more areas where there are a lot more houses,” he said. “It’s not a market like New York City, so to be in the top was definitely a big deal.”

But Passkiewicz didn’t want to take all the credit.

“I have a great team that helps me handle those large transactions, particularly CEOAndy Allen of Corner Lot Properties,” he said.

Jacksonville-based Watson Realty Corp. is a full-service real estate company with nearly 1,300 sales associates and 42 sales offices throughout Northeast and Central Florida.

As real estate in Florida begins to stabilize, properties are becoming easier for brokers to sell, said Andy Allen, who has been flipping homes for six years.

“Prices are coming back rapidly since the recession,” Allen said. “We’re flipping about eight to 12 homes per month.”

According to, eight Florida cities are in the top 15 nationally, with Jacksonville holding the No. 8 position.

“With these hedge funds and the amount of money in Jacksonville, it has really depleted the inventory and become very healthy,” Passkiewic said. “It’s become an efficient market where stuff that’s meant to sell does.”

Right now, the historic districts that surround Downtown are on the up, Passkiewicz said, including Jacksonville Beach, Riverside, San Marco and Avondale.

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Corner Lot Golf Tourney raises $40,000 for Blessings in a Backpack Tue, 15 Apr 2014 16:35:01 +0000 stephenkrain [...]

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From Jax Daily Record:

Wednesday, April 9, 10:18 AM EDT

Compiled by Max Marbut

Corner Lot Properties hosted a charity golf tournament March 24 at San Jose Country Club to tee off its three-year Blessings in a Backpack partnership with Hendricks Avenue Elementary School.

NFL Hall of Fame member and former Miami Dolphins quarterback Dan Marino, current and former Jacksonville Jaguars Josh Scobee, Marcus Stroud and Bryan Barker and PGA Tour golfers Bud Cauley, Chris Stroud and Russell Knox were among those who participated.

Andrew Allen, Corner Lot Properties CEO, said more than $40,000 was raised at the inaugural event.

Blessings in a Backpack provides elementary school children on the federal Free and Reduced Price Meal Program with a backpack of food to take home for 38 weekends during the school year.

Children who qualify are fed during the school week by federal government programs and Blessings in a Backpack provides food over the weekend. Nearly 25 percent of the students at Hendricks Avenue Elementary School are on the federal program.

“This partnership with Corner Lot Properties and Blessings in a Backpack will make a big impact for our families who worry how they will feed their children,” said Lacy Healy, principal of Hendricks Elementary School. “This will help our students focus on learning and not if they will be hungry.”

Corner Lot Properties will begin its backpack program at Hendricks Elementary at the start of the 2014 school year in August.

“As an A-rated public elementary school, Hendricks is overlooked as a school in need,” said Allen. “It’s in Corner Lot Properties’ backyard, so we’ve made a three-year commitment to Hendricks for the Blessings program, but we’re also looking forward to supporting others throughout the year.”

Blessings in a Backpack provides for approximately 1,300 children in seven Duval County schools and 295 children are in the program at five schools in St. Johns County. For more information, visit

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Closing Your First Real Estate Investment Property Wed, 12 Feb 2014 20:05:50 +0000 Matt Allen [...]

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To the new real estate investor, purchasing a real estate investment property can be both exciting and, at times, an overwhelming experience. That being said, there is certainly no denying that owning a real estate investment property when purchased through sound due diligence and proper money management can be one of the best ways to add an excellent source of secondary income.  Make your hard earned money work for you!

There are several key aspects to the process of buying an investment property. Two of the more common questions that all new buyers frequently have are:

  1. What does the term “closing” mean?
  2. How does the closing process work?”

Closing on a Real Estate Investment Property

Closing is the term used to describe the point in the purchase process where the title to the property transfers from the seller to the buyer and in return, a mortgage is provided by the buyer to the lender.  This may sound a bit confusing to the first time investor but the more that you educate yourself about the process the more you will see that it’s not at all complicated. In fact, most of the work is done for you!

Real Estate Investment Property

It’s very important that during the closing process it’s made clear to you and you completely understand the “costs” that will be associated with the closing of the property that you have decided to purchase. When trying to obtain a loan the lender should be prepared to provide you with an accurate estimate of all closing costs before you place a contract on the property. The lender has 72 hours after you submit the loan application to provide you with this information so you can eliminate any unexpected costs or surprises upon signing of the contract to purchase the property. Make sure that you know all closing costs you may be responsible for before you go ahead with the purchase.

As soon as the price offered and contract is accepted by the seller, the closing process is underway.  It’s very important to ensure that all of the necessary documents are obtained and prepared for you.  Finding a settlement agent on your own is one option that you can utilize to have the documents prepared for you in time for the closing.  It can also be helpful to ask your real estate agent or lender if they have one they can recommend or have worked with before.  The settlement agent will take over the closing process from there and make sure that all monies (deposits) involved are deposited and held in escrow until the closing is complete.

It’s also important to know just what the title status is on the property that you plan on purchasing.  By searching the public records for any title information on the property, it will reveal any issues that will need to be resolved prior to the property exchanging hands.  Such issues can be that the previous owner failed to pay the local or state taxes on the property. Another common issue could be that there may be an outstanding mortgage or tax lien.  These issues have to be taken care of before the closing process can continue.  Depending on the contract, these issues will either be absorbed by the seller or the buyer as per terms of the contract.

The last step in the closing process is for the settlement agent to prepare the documents that show just exactly what the closing costs will be. Often called the HUD-1, it simply defines the terms of the contract as far as who will be responsible, between the buyer and seller, or all closing costs involved.

Finally the day of closing arrives!   You are just one step away from owning your first real estate investment property, ready to join the likes of Donald Trump.  You arrive to sign the necessary documents that haven been prepared for you and after the signing is done the house is officially yours.  Depending on the status of the house, it’s either ready for the next step which could be to start renovations or advertised to be rented out to start earning you money.  Job well done!

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To Remodel or Sell? Things to Consider. Thu, 15 Aug 2013 15:33:00 +0000 Matt Allen [...]

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So you purchased or built your dream home a few years ago, but maybe your circumstances have changed since then. Kids getting bigger? Maybe your family has grown in numbers? Has your home lost the charm it once had? Many homeowners find themselves in the position where the home they own no longer matches their needs or desires. The question then becomes, should you put your home up for sale or go through the process of a remodel? Selecting between these two options can be very difficult, so here’s a few things to think about when deciding on which path you may choose to take.

Is your home providing you with the space you need?

Ask yourself this question. It’s recommended that you make a list of the pros and cons of your home. This will help you to figure out what things you like about your home and what you maybe would like to change. Does the home still continue to serve its purpose or have you and your family outgrown the space you have? Is the location of the house now a hindrance to your family members? These are just a few of the many questions that need to be taken into consideration.
If the home is no longer serving the purpose it once did, then selling it is likely the best option for you. Adding additional space can incur costly construction budgets and depending on the size of the renovations, it can inconvenience you and your family for a few weeks. You may even have to leave the property and stay in another location while the work is being completed. Also, many times the amount spent to renovate isn’t realized in the total value of your home.

What is the current condition of your home? What is it worth?

Something that can’t be overlooked and certainly needs to be factored into the decision on whether to remodel or relocate is what the current market value of your home is and what each remodeling project will cost. Does it make sense to invest a large amount of money into your home if it isn’t going to add substantial value to it? What are the houses in your community currently selling for? If the market values in your neighborhood are relatively low, then investing a large amount of money into renovations may not be a great idea. If the money invested can’t raise the value of your home because comparable market value for homes around in your neighborhood are relatively low, then it does not make sense financially.

A smarter way to go about deciding whether or not to remodel is to have a real estate agent or home appraiser put a current market value on your property and add to that the amount that you want to invest. The compare that total amount with the current market values of comparable homes in your neighborhood. What have comparable homes sold for in the past year? This should give you a great of whether or not investing in a remodel is worth it or is just selling your home and finding something that better suits your needs the best option. There really isn’t any reason to spend $100,000 on a huge remodel that’s not going to reflect in the homes value should you decide to sell the home down the road.

3 Reasons to consider moving.

1. If you have any intentions of moving in the near future, say the next 24-36 months, then completing a costly remodel probably isn’t a great idea. Chances are good that when you eventually sell you won’t see the money invested realized in the sale price of your home.

2. Another reason to relocate can be the amount of remodeling projects that you want to undertake. It usually makes more sense to sell the current home and find a house that better accommodates your needs. Take time to find the location that you want to be in and what kind of aspects you want your new home to have. Finding a home that already meets the standards that you and your family are looking for will save you time and money that a large remodeling job may require.

3. If the location that you are in isn’t meeting the needs of you and your family, then a move to a different location may be necessary. Many components are involved in this decision. A new job, a better school district, too long of a commute to work or just maybe a change of scenery are all very common reasons to make a move plausible.

3 Reasons to consider a remodel.

1. If you are looking for a fresh, new look for your home then a remodel may be what you need. If you plan to stay put and reside in your home for an extended period of time, then you have the advantage of choosing which remodel you want to do when you choose to do it. Remodels become much easier to undertake when your timeframe for staying in your home is long-term. They are easier to finance and if done over a longer time period can slowly add value to your home.

2. In a slower and less valuable real estate market, building material costs usually have a tendency to decline as well. This can be used to your advantage because budgets for projects will reflect the current costs for materials. By shopping smart and comparing budget bids from several remodeling companies, there’s a great chance your project can be completed for a cheaper price, adding more value to your home.

3. Another great reason to engage in a remodel in your home is if you are really in need of an upgrade. If you have a home that was built in the 60’s or 70’s, it may be in need of a few remodels to bring it up to the 21st century. It could be an old, moldy bathroom, some shag carpeting that is an eyesore or maybe the basement needs an upgrade to match the rest of the house. If you plan on staying in the home for an extended period of time and have no intentions of selling it anytime soon, then a remodel is most likely the best option.

You have options.

So as you can see, there are many factors involved in deciding on what direction you may want to go in when it comes to your home. Deciding to undertake a remodel can sometimes be the right move and will work out financially in the long run. It could be that moving makes the most sense for you, your family and financially may just be the most logical thing to do. The cool part is that you have options and an almost infinite amount of resources to help make the decision easier.

Don’t forget, your home is most likely going to be the biggest investment that you will make in your life. It’s important to look at both options, to remodel or relocate, and compare the risks and rewards for each based on the total costs. When the costs are compared then it becomes much easier to decide which route to take. To remodel or sell, a difficult question made easier by organization and planning.

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Quickly Selling Your House Mon, 29 Jul 2013 13:19:22 +0000 Michael O'Neal [...]

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If you are planning to put your house on the market, you probably are hoping to sell you house quickly  and for as much as possible. There are many things you, as a seller, can do to speed up the process of selling your home. Among them are pricing the house correctly, making repairs yourself, boosting curb appeal, and cleaning up clutter!

Pricing your home correctly is of utmost importance for selling your house quickly. Today’s buyers and their real estate agents are aware of comparable sales in the area, which is one of the biggest influences on the market value of your house. Pricing your house too high will scare buyers away from even making an offer on your home. Here’s a tip for you and your agent: obtain recent sales comparables and price your home 10% lower. When your house comes on the market, more than likely you will get multiple offers on the property for buyers trying to get a great deal on a house. You may then ask for every buyer’s “highest and best” offer and potentially get more than market value for your house. In today’s market, multiple offer situations are very common!

One of the biggest holdups in quickly selling your house may occur during the buyer’s inspection period, which is normally 10-15 days after the contract is signed by both parties. The buyer has a right to inspect the property for any issues, such as roof leaks, the presence of wood destroying organisms, and any electrical or plumbing issues. If the buyer finds issues during the inspection, they may cancel the contract, request a price reduction, or request the repairs to be made. To avoid any slowdowns prior to closing, take a proactive approach and seek these issues out beforehand if they exist. To not find anything alarming during the inspection will make your home look that much better to the buyer. And you’ll decrease the chances of having to find a new buyer.

Another tip to quickly sell a house is to clean up the clutter in your house. This includes depersonalizing and removing family photos on shelves, tables and walls. Go ahead and clean all countertops and remove anything that’s not necessary. Buyers want to imagine their stuff being in your home, not see all of your stuff.

One last tip: boost your home’s curb appeal. If the outside of the house doesn’t look good, some potential buyers will just continue driving. Make sure the yard is mowed, the landscaping and planting is lush, and the exterior of the house itself is clean. Luring in potential buyers should be your goal.

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How To Sell Your House For More Thu, 25 Jul 2013 20:06:16 +0000 Joshua Canady [...]

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When it comes to selling your house, there are a number of things that you as the seller can do to increase the present and future value of your home. But like any investment, investing in your home can be good or bad depending on when, where, and how you invest your money. In this post I will tell you how to sell your house for more through improvements both big and small.

There are some improvements that are not necessarily practical if you are already selling your house. So, for those of you that are not currently selling your house but want to sell your house for more when the time comes this section is for you. One of the biggest and most expensive improvements that you can make to your house that would also allow you to recoup up to 100% of your investment is a REMODELED KITCHEN. The “ooos and ahhhs” that people give when they walk into a nice kitchen are the same sentiments that potential home buyers will give as they walk into your remodeled kitchen. Keep in mind that plenty of counter and cabinet space is a must when doing this. Another somewhat pricey but not so difficult undertaking is adding or improving a backyard DECK. One of the biggest things that home buyers look at when buying a home is the entertainment potential. Here in Florida the backyard is often the hub of the entertainment so having a nice place where friends and family can come over to relax and grill is a major plus for home buyers. To make this investment even sweeter, when you add a deck you can recoup up to 85% of your investment.

Now for those of you that are already in the process of selling your home hope is not lost! You can still sell your house for more! There is a plethora of improvements that can be done both quickly and without breaking the bank. We’ve all had our ears bludgeoned with the saying “don’t judge a book by its cover”, but  unfortunately home buyers do exactly that. So one of the most important things to consider when you sell your home is its CURB APPEAL. Having a nicely manicured lawn with the lawn mowed, edges trimmed, flowers and shrubbery maintained, and brush cleared away will be HUGE in setting the tone for the  home buyer as they approach your home. Also be sure the exterior of the house itself is well maintained. Easy ways to do that are to touch up paint, pressure wash, and fix anything unsightly that may take away from the beauty of your home.

Now that you all know how to sell your house for more I expect to see you all at your local home improvement store  with dollar signs in your eyes and smiles on your faces!

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How to Sell Your Home by Maximizing Each Showing Fri, 12 Jul 2013 15:03:10 +0000 Natalie Lhommedieu [...]

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The longer your house is on the market, the more leverage the buyer has in negotiating a lower offer on the home.  Therefore, it is essential to sell your home by maximizing each showing.  Staging your home properly will help the potential buyer to actually visualize living in your home.  This will boost your chances of quickly selling your home and avoiding any price reductions.

Staging may take a little thought and attention to detail but it need not translate into major expenditures.  The goal is to engage all the senses of the individuals viewing your home, thereby transforming your house into a place where they can see themselves living.

Don’t underestimate the very critical importance of curb appeal.  Drive-by viewings and initial impressions will determine whether or not a buyer chooses to make the first step of calling to schedule an appointment.  Improve your curb appeal by ensuring that your lawn and hedges are neatly manicured.  A new layer of mulch and cheery flower pots at the front door are inviting and set the tone of the tour.

Remove clutter and personal items from rooms.  The buyer wants to see the clean lines of your home and how “their” furniture and items will work in the space.  Reposition furniture into cozy groupings and place pieces so that the traffic flows as it should when you are entertaining.  Lighting is also indispensable for creating a warmer feel.  Opt for table lighting as opposed to ceiling fixtures and utilize any light dimmers to create the perfect backdrop for each room.

Neutral paint colors on the walls are always the best choice because they will do the least to interfere with any possible design-style conflicts and objections of the potential buyer.  Touch up any areas that reveal wear and tear and thoroughly clean baseboards for a fresher look.

Kitchen and bathrooms are critical game-changers in selling the whole home.  Make sure that both are spotless and that any appliances that will be sold with the home are impeccably kept and odor-free.  Remove food items and small appliances from your kitchen counter tops and all personal care/cleaning products from the bathrooms.  Remember.  The point is to remove “you” from the home and welcome the “new owner”.

Another great way to bring rooms to life is to highlight the use of each room.  If you have a game room, set the pool table for a game.  Turn on the television and set the channel to a sporting event.  In a den, turn on the news or set the radio to a soothing station.

Lastly, don’t forget to engage their sense of smell.  What is more homey than chocolate chip cookies baking in the oven?  Bake a batch before you leave.  The aroma wafting in the air will be a first and last impression that will stay with the potential buyer long after they leave your home and will hopefully lead to a SOLD sign in your front yard.  Have fun.  Be creative and good luck!

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The cost of selling a house. Thu, 11 Jul 2013 15:25:56 +0000 Jaime tejera [...]

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Whether it be a larger home for growing a family or a vacation home for getting away, the reasons for selling a current home are plentiful. What most prospective home sellers usually do not consider until they finally close, is the cost of selling a house. There are two basic options when selling your home. The first option is selling to a conventional buyer, who will more than likely need financing. The second option is selling to an investor who can usually pay cash.

When selling to a conventional buyer two costs must be considered. The first cost is in repairing the property for a new buyer to successfully attain financing. A large majority of home purchases are made with FHA loans, which means that the mortgage company will send out an inspector and an appraiser to verify that the property is in good standing. For example, if a roof is damaged and does not have enough life left on it, they will require it be replaced. The other cost in selling to a regular home buyer is time. When signing a contract to sell to a regular home buyer, it is usually contingent upon the buyer securing financing. Assuming the buyer is pre-approved, we can project that closing time will take about 60 days as long as there are no bumps in the road with repairs, appraisals or the financing process itself. Usually bumps in the road will arise from buyer qualification, where the bank will ask your buyer for updated bank statements and W2′s depending on how long the closing is taking.


The other way to sell your home is to an investor. You can usually find investor buyers’ signs on the side of the road saying “We Buy Houses” or by receiving postcards with a similar message. The “true” buyers are those who can close on your house in 21 days or less. The cost incurred here can also include time if you decide to sell to the “wrong” investor. For example, if an “investor” contracts to purchase your home and he is trying to “assign” your property, there is a chance they will never close which costs you time and heartache. If you are dealing with a true investor group that is trying to purchase your property, the cost in doing this will be monetary. Whereas a regular buyer will obtain financing and pay up to the appraised value of the property, an investor will not be willing to pay that amount. The reason they cannot pay this amount is due to the type of investment they are doing. They may be looking to repair your property and hope to sell it at a higher appraised value, or rent it out and create an income. The benefit of selling your home to an investor is that they will usually pay all the closing costs and the sale amount will be net to you.

In conclusion, regardless of the reason you are selling your home, there are costs involved. Some monetary and some not . The exact cost of sale can be estimated by a Realtor and is based on your county’s millage rates and tax obligations. Selling to a regular home buyer can cost you time and in some instances money. A sale to an investor can and most likely cost you in equity, but will usually not cost you time.

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Sell Your House Easily Wed, 10 Jul 2013 15:36:19 +0000 Michael O'Neal [...]

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Putting your house up for sale does not have to be a long, difficult process. There are many different options you can choose from to sell your house easily. First and foremost, you will need to decide if you want to list the house on the Multiple Listing Service (MLS) or if you want to sell the house yourself. Of course there are pros and cons to either situation. Selling the house yourself might end up saving you a few dollars when it comes to paying commissions, however, the house might stay on the market a little longer and require you to do a little more work (putting out signs, fielding calls, etc). The other option is to hire a real estate agent and have your house listed on the MLS. This will give your house more exposure and potentially help it sell faster. If you hire an agent, you will have to pay a commission to your agent as well as the buyer’s agent.

Real estate investors have been very active in the area for the past couple of years and are always looking for homes to buy, especially in today’s market conditions. They make the process of selling a home easier for a variety of reasons. First, they almost always pay cash, which can save a lot of time and confusion when your house is ready to close. Investors who pay cash do not require the property to be surveyed. Sellers customarily pay for surveys and this could create delays prior to closing should any issues arise. Secondly, they do not require an appraisal of the house in order to determine its value. If a potential buyer has secured a loan from a bank/lender and puts an offer on your house, the bank will require an appraiser to go out to the house and determine its value. For example, if the buyer and yourself agree on a purchase price of $110,000 and the appraiser comes over and says the house is worth $100,000, the bank/lender will not give a loan of $110,000. It throws a wrench in the entire transaction and can make things very difficult. Another advantage to selling to a real estate investor is they do not require you to make repairs on your home. After the house is purchased, most investors will rehab the home themselves to prepare it for renting or reselling. Lastly, investors can close on the house quickly and may even pay for your closing costs! If you can avoid an appraisal, a survey, and making necessary repairs yourself, the process of selling your house will definitely be easier.

You can also choose to put your house “for sale by owner”. You will need to put out some “For Sale” signs yourself to attract attention to your house. You can also put an ad in the Classified section of your local newspaper to help gain exposure. Be sure you have a flexible schedule as you will need to show the house to potential buyers when they drive by and/or call. Although investors still buy properties that are for sale by owner, it could take a little while longer for them to see it even with the above advertising recommendations.

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Our Employee Perspective Wed, 29 May 2013 19:30:33 +0000 stephenkrain [...]

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I recently had the chance to sit down with a number of Corner Lot employees and ask them some questions about their jobs, the company, values and the future. I wanted to share a number of the answers, because the words of our employees are the most succinct, articulate and knowledgeable expressions of what we do.
So, when asked what Corner Lot does, here are some of the replies:

• A real estate investment company handling every facet of the industry from new construction and remodeling to acquisition and sales.
• Everything under the umbrella of real estate.
• A one-stop shop for all of your real estate needs.
• A full service investment real estate company with the primary focus of distressed residential assets.
• Corner Lot caters to every aspect of the real estate process from finding, acquiring, rehabbing, renting and finally selling investment properties.
• A regional real estate conglomerate.
• Working with Corner Lot is convenient and less hassle because of the wide variety of services available.
• Corner Lot is a real estate investment company that purchases, rehabs, retails, turnkeys, rents, builds and manages real estate for a profit, all while enhancing the communities in which it does business.

Next I asked the employees about values at work, and the responses listed below highlight the caliber of people employed at Corner Lot:

• The values in this workplace are very positive and present.
• Teamwork and collaboration.
• Self-discipline, loyalty and dedication.
• Professionalism, integrity, adaptability, quality and pride.
• Passion and energy to take an idea and shape it into something real.
• Having fun while being at work, hard work, team work, reliability, integrity.
• A hardworking policy/attitude with a laidback comfortable feel.
• Committed throughout, striving to go above and beyond.

Then I asked the employees about the future, where they see Corner Lot going over the next five years:

• There are no boundaries to where Corner Lot is going in the next five years.
• This company could be a nationwide housing market giant unlike ever before as we will have everything needed to accomplish any task at hand.
• Corner Lot has a tremendous knowledge of real estate and the motivation, people skills, and staff to be the most successful real estate company in the Southeast.
• Corner Lot will be a household name in Florida.
• In five years I see Corner Lot not only throughout Florida, but in other nearby states as well.
• Corner Lot will have a foot in every aspect of Florida real estate.
• Real estate domination.
• Very bright, with infinite potential to prosper and grow, expanding operations into many avenues and sectors geographically, and continue to dominate a particular corner of the market.

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