Our Real Estate Blog
For those who want to achieve the best-possible results during the house selling journey, it helps to plan ahead. Fortunately, we're here to help you get ready to list your home and enjoy a seamless property selling experience.
Now, let's take a look at three items that every seller needs to pick up before listing a house.
1. Cleaning Supplies
A stunning home interior can make a world of difference in the eyes of property buyers. Thus, you should purchase cleaning supplies to ensure that you can transform your house's interior from drab to fab.
Cleaning supplies are easy to find at any grocery or convenience store and won't force you to break your budget. Plus, they often come with instructions so you can use these supplies for maximum effectiveness.
2. Lawn Care Equipment
In addition to improving the look of your home's interior, you'll want to do everything possible to bolster your residence's curb appeal. Because if potential buyers drive past your home and like what they see, these individuals may be more inclined than ever before to schedule a property showing.
A lawn mower, hedge trimmer and other lawn care equipment are paramount for a home seller. With this equipment at his or her disposal, a seller can improve a house's curb appeal. And as a result, this individual can help make his or her home an attractive option for prospective buyers.
3. Hand Tool Set
A hand tool set will serve a home seller well even after this individual sells his or her house. This set includes a hammer, wrenches, screwdrivers and other essential tools that will make it easy for an individual to perform quick fixes around a house.
In most instances, a standard hand tool set includes everything that a home seller will need to complete basic house repairs. And remember, an individual can always add to his or her hand tool set down the line too.
As you prepare to list your home, there are lots of things that you can do to differentiate your residence from the competition. In fact, if you collaborate with a real estate agent, you can receive comprehensive home selling insights that you may struggle to obtain elsewhere.
A real estate agent is happy to offer honest, unbiased property selling recommendations. He or she can help you get your residence ready for the housing market and ensure it generates plenty of interest from potential buyers. Also, a real estate agent will show your residence to prospective buyers, keep you up to date about any offers to purchase your house and much more.
Perhaps best of all, if you have concerns or questions during the home selling journey, a real estate agent is ready to respond to them. This enables you to gain expert home selling insights and receive the support you need to succeed.
Employ a real estate agent today, and you can begin a successful home selling journey.
Real estate market data is readily available to home sellers across the United States. With this information at your disposal, you should have no trouble maximizing the profits from your home sale.
Now, let's take a look at three real estate market data that every home seller needs to check out before listing a residence.
1. Prices of Comparable Houses
Let's face it – determining a competitive price for your house may prove to be difficult, regardless of your home's age or condition. Fortunately, if you analyze the prices of comparable residences in your city or town, you can better understand how your house stacks up against the competition and price it appropriately.
Furthermore, it may be beneficial to conduct a home appraisal prior to listing your house. This appraisal enables a home expert to assess your house both inside and out. Then, you'll receive an appraisal report that contains a property valuation, which may help you determine a competitive price for your house.
2. Prices of Recently Sold Houses
Are you preparing to enter a buyer's or seller's market? Review the prices of recently sold houses in your area, and you can find out whether the current housing market favors buyers or sellers.
If home sellers are receiving offers at or above their initial home asking prices, now may be an ideal time to list your residence. Thus, you may want to add your house to the real estate market sooner rather than later to capitalize on a housing sector that likely favors sellers.
Conversely, if home sellers are receiving offers below their initial home asking prices, you may want to allocate significant time and resources to find ways to improve your house. Because if you enhance your house's exterior and interior, you may be able to help your house stand out from the competition and increase the likelihood of a profitable home sale.
3. Average Amount of Time That a House Is Listed
Check out how long houses stay on the real estate market before they are sold – you'll be glad you did. With this housing market data in hand, you can assess the pulse of the real estate market and map out your home selling journey accordingly.
If you need help collecting or analyzing real estate market data, there is no need to worry. Hire a real estate agent today, and you can gain the insights that you need to make informed decisions throughout the home selling journey.
A real estate agent is a housing market expert who is happy to help you in any way possible. He or she will provide recommendations about how to price your house and improve your home's interior and exterior. Plus, a real estate agent is available to respond to any of your home selling concerns or questions, at any time.
Ready to list your home? Review the aforementioned housing market data, and you can obtain deep insights into the real estate sector prior to selling your house.
As you get ready to add your house to the real estate market, you likely will consider high and low initial asking prices. However, it is important to remember that no two residences are exactly alike. And much in the same vein, the initial asking price for your home may vary from that of a similar residence based on your house's condition, age and other factors.
Ultimately, a diligent home seller will allocate the necessary time and resources to determine a competitive initial asking price for his or her residence. This seller will be able to establish an initial home asking price that hits the mark with buyers, and as a result, stir up plenty of interest in his or her house.
Determining the ideal initial home asking price may seem tough at first. Fortunately, we're here to help you set a competitive price for your residence, regardless of the current housing market's conditions.
Now, let's take a look at three tips to help you establish the ideal initial asking price for your residence.
1. Assess Your Home
The present condition of your house may have a major impact on its value. Thus, you should perform a home inspection before you list your house to identify any underlying problems and address such issues.
A home inspection is generally requested by a buyer after a seller accepts an offer on a residence. Conversely, a seller who wants to go above and beyond the call of duty may perform an inspection to take a proactive approach to home improvement projects. This approach may help a seller mitigate potential home problems before they are discovered later in the home selling process.
Thanks to a home inspection, a seller can establish home improvement priorities. Then, this seller can perform myriad home improvements and move closer to maximizing the value of his or her residence.
2. Evaluate the Housing Market
Operating in a seller's market is far different from selling a house in a buyer's market. If you review the real estate market, you can gain the insights you need to establish a competitive price for your home.
Take a look at the prices of houses in your area that are similar to your own residence. This information will enable you to understand the price range for comparable houses in your city or town.
Also, evaluate the prices of recently sold residences in your area. This housing sector data will allow you to determine whether you are operating in a buyer's or seller's market.
3. Collaborate with a Real Estate Agent
A real estate agent knows the ins and outs of selling a home in any housing market. He or she can offer a wide assortment of housing market data. Perhaps most important, a real estate agent will make it simple for you to establish a competitive price for your residence and reap the benefits of a fast, profitable home selling experience.
Want to add your house to the real estate market? Use the aforementioned tips, and you should have no trouble setting a competitive initial asking price for your house.
Let's face it – reviewing an offer to purchase can be difficult. And if a home seller feels unsure about a homebuying proposal, this individual may want to consider rejecting the offer to purchase.
Ultimately, there are many reasons why a home seller may decline an offer to purchase, and these include:
1. An offer to purchase fails to meet a home seller's expectations.
If a home seller receives a "lowball" offer to purchase, he or she may submit an instant rejection. In fact, this seller likely will have no regrets about declining the offer to purchase and continuing to wait for a homebuying proposal that matches his or her expectations.
As a home seller, it is vital to establish realistic property selling expectations before you list your residence. If you set a competitive initial asking price for your home, you may reduce the likelihood of getting lowball homebuying proposals. And as a result, you may be better equipped than ever before to speed up the home selling journey.
2. A home seller has multiple offers to purchase at his or her disposal.
If a home seller receives multiple offers to purchase his or her home, this individual likely has a tough decision to make. Fortunately, a seller can review his or her options and make an informed decision.
When a home seller receives several offers to purchase his or her residence, there is no need to rush to reject or accept a proposal. Instead, a seller should evaluate each homebuying proposal closely and use all of the information at his or her disposal to determine the best course of action.
3. A home seller can afford to wait.
If a home seller lists his or her residence in a buyer's market, the demand for houses may be limited. Conversely, if a seller lists a home in a seller's market, this individual may receive many offers to purchase as soon as his or her residence becomes available.
Sometimes, a home seller who can afford to be patient may choose to reject an offer to purchase in a buyer's market, even if the proposal is competitive. Because if the seller waits for the real estate market to improve, this individual may be able to optimize the value of his or her residence at a later time.
For home sellers who are committed to getting the best price for a home, it generally is a good idea to employ a real estate agent. This housing market professional will help a seller establish a competitive initial asking price for his or her residence. Plus, a real estate agent will set up open house events and home showings to promote this house to potential buyers. And if a seller receives an offer to purchase, a real estate agent can recommend whether the seller should reject, accept or counter the proposal.
Want to list your house and streamline the property selling journey? Hire a real estate agent, and you can work with a home selling expert to evaluate any offers to purchase your residence.
If you’re a homeowner considering selling your home as an investment property, timing is important. From a financial perspective, just as you probably bought strategically, you want to sell strategically too. The trick is knowing when the right time arrives. Here are four common metrics people use to determine when it's time to sell their property.
Amount of Equity in the House
A primary factor to look at is how much equity is in the home. Ideally, to sell a home as an investment, the seller can make a tidy sum. If mortgage payments are still owed, this may negate any potential profit made, but not necessarily. If you're looking to broaden your investment portfolio, be certain you can sell your house for enough money to pay off your debt with a sufficient amount left over to re-invest. If you don’t have enough equity to do this, you’re better holding off.
Market Conditions Are Good
Many owners who bought low and can sell high find this to be a strong motivator to put their property on the market. Since market conditions eventually shift to a buyer’s market, it’s a smart strategy to sell when the housing market favors the seller. Owners who have held their property for a long time or purchased as the housing bubble burst between 2007-2012, are likely going to make a better profit than investors who purchased when prices were at their peak.
Tax Code Advantages
Buyers are often motivated to sell if there are tax code advantages. For instance, the IRS currently offers a tax-deferred advantage to investors looking to sell one property to buy another. Under tax IRC Section 1031, sellers are required to find another property to purchase within 45 days and then buy it within 135 (180 days total).
By selling and making a similar real estate investment, investors can defer paying their federal and state capital gain taxes. It’s a good strategy to use if you want to leverage real estate and broaden your portfolio.
Taxes Are Going Up
If local taxes are going up, often buyers find this to be an incentive to sell. For instance, if a town severely limits commercial activity, the tax burden falls to homeowners. Over time, the tax bill may become too exorbitant. If you own enough equity in your property and the housing market is in your favor, high taxes might be your tipping point.