Factors confirming winter is apt to list your real estate property

It’s widely believed that selling homes in the winter is a deadly decision as if it is done during the summer, one can sell his or her home at the figure they expect to. But, recent national statistical studies state that it is not the case.

Winter is also surprisingly an apt time for the real estate property to get listed, bought, sold and negotiated. Redfin, Online realty brokerage through their researches found the below findings.

  • According to their research, they found out that if you wish to sell your real estate property more than you expected price, then listing during winter will offer you a better chance than doing it during June through November.
  • Also, during the previous 3 years, real estate property sold during the winter times was producing higher percentages on top of asking price than the rest of the month. Also, they concluded that right time to sell the home relatively quickly is February. Nearly 66% of the homes listed during this historical month are sold out within 90 days.

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They note that listing the real estate property during the winter months is not comparatively too huge advantageous than other seasons. But the true fact is that winter offers you with better results and minimize competitive price through a few measures taken towards promoting the potential sellers to get into the race quicker rather than later.

Chief Economist of Redfin, Nela Richardson states that “Those houses that are rightly priced and well shown during inspection can sell anytime irrespective of the season”. Added, many of the potential sellers may not be aware of the fact that those active shoppers during the winter months are serious buyers and not window-shoppers as they generally do so during the spring months.

Also, few sellers practice to list their unsold houses during winter, with the hope of selling it at a better price during the spring. If they do so, they create a small inventory of active listings and thus reduce the competitions among the sellers who list during January and February and stand ahead of the game.

Negotiations become easy

Winter season buyers may feel that few sellers are more negotiable in terms of terms and prices than they will be generally during the mid of the spring. Mary Bayat, an active broker in Washington D.C states that winter sellers are more realistic, especially when their properties are not attracted any big deals during the previous summer and fall. So, it becomes right time for smart buyers also.

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One of the agents in the Redfin Denver Office, Paul Stone, states that several large corporations in the real estate business transfer their employees and prefer to hire new ones during the first few months of this year. Thus, it opens up the opportunities for those listers during the winter month who are not ready to wait till spring to list their properties.

Bottom line: It is not so that real estate hibernates from December till March. Approximately, more than 5 million homes are resold every year in the U.S and out of which many of them are listed and sold out during winter months.

According to Redfin’s study, during the winter months,  the highest probability of selling your home is within 180 days in strong local real estate housing markets like San Diego, Los Angeles, Phoenix, Austin, Boston, Seattle and Washington, D.C than compared to other season in these places.

Why real estate investment is a great idea?

Even though getting success through their primary business ventures, many investors and entrepreneurs are in search of finding a proper real estate investment plan that will fetch them more profits. If you are also planning to grow your wealth through investing your money in a real estate property, then it’s a better consideration.

There are many reasons that make a real estate investment as a good idea. Still, it is true that real estate investment includes risk and need tactics to win in this race. Also, you may come across several myths stating that the real estate investment is just similar to that of throwing money away, but really which may not be so true.

There are many successful stories of investors who involved in buying a home at a reasonable price, renovating it and reselling it at a much higher price. Also, there are investors who make sufficient income through renting as it generates consistent monthly paycheck.

Renting is considered to be the core of real estate investing that pays you similar like dividend paid out of utility stock. Still, investing in a real estate property and gaining profit in either any of the two ways – reselling or renting is worth doing to grow your wealth. The below are the points that support real estate investment as a great idea.

It is simple

The first thing you must sort out when you plan to invest in real estate is holding a good plan for sufficient finance. Once you have your finances ready, it’s time to get into the research process. You should indulge in detailed research and must depend upon certain criteria prior to starting your research, such as location, budget, commercial space or residential space, for rental purpose or reselling and so on.

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There are chances of a little risk that if you personally involve without prior knowledge you may be directed to buy a bad property or overpay above the market value of property. So, in order to avoid, you can seek for help from a reliable choice of realtor who will make your job done easily. They will perform inspections and valuation with due diligence, thus makes your investment plan, a successful venture.

Control

If you invest in a real estate property, it offers you with several options unlike other sorts of investment plans in terms of income generation, appreciation on your property. Also, as an investor, you can enjoy utmost control over your choice of investment such where to buy, when to resell it and how to buy and so on.

Stability

When compared to other sorts of investment choices, real estate is less volatile. When you consider investing in mutual funds or stocks, there prevails uncertain economic market scenario, whereas in real estate, it is not much unpredictable. With the continuous requirement of rental property and housing demand that is being fuelled by increasing population growth, there will be a reliable demand for real estate property.

Even at times of drastic fall in the house prices, it is not necessary that you may need to incur a real loss unless you wait for a right opportunity and sell your property at a nominal cost.

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Easy asset to know

If you consider investing in share markets, it comprises of more complicated terminologies that you may be really need not know and requires doing a lot of homework to understand the same. But, real estate is comparatively simple and the strategies being used in this sector are pretty straightforward.

The significant terms you must know in real estate investment are capital growth, yields and cash flow. The most complicated factor to know in real estate may be mortgages and the sorts of loan types you are planning to apply for.  For understanding the same, a good broker will be of great help.

The taxman assists you in paying off your investments

Through real estate investment, you can claim a distinct range of tax deductible expenses that will reduce your burden of tax payment and also amplify your cash flow to an extent.

Your mortgage will be paid off by your tenant

If you rent your property, your tenant will take the responsibility of paying down your mortgages, still you can sit idle and watch your property growing in value.

Predictable asset

Unlike other investment classes, it is easy to predict real estate market and can understand how the market scenario will be in next 18 to 24 months.

Real estate investment makes you richer

It is a good choice of investment that makes several millionaires relatively than other sorts of asset options.

How to increase the selling value of a real estate property?

You may be a buyer or seller of a real estate property, in order to get more monetary benefits, go ahead and read the below guide to know-how the best financial and negotiating practices. It is recommended that through avoiding most typical mistakes, it is possible that you can gain around 11% – 20% of even more profits in few markets of home sales. It is always good attempt to try selling home during the month of Apr-June.

Clear out all sorts of clutters

It is a true fact that nothing drives away a prospective buyer from buying faster than those weird smells and clutter grime that is pre-occupied in your messy home. The total cost of making it good depends upon the severity of clutters. The cost range may vary from $0 if you do it yourself up to $2,500 if you hire a pro to do it.

A professional organizer can help you in winnowing your things so as to make your home more sellable. It may take approximately from one to three months for the professional organize to make your home ready for sale. Also, it is recommended to give the entire interior décor of your home a thorough cleaning together with dusting, vacuuming, and wiping down every floor. It will potentially increase the asking price of your home value.

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Spruce up the kitchen

To spruce up the kitchen, it may cost around $3000 to $5000, out of which you can get a potential return of about 3% to 7%. It’s a real estate saying, that more than any other rooms, kitchen sells the home better.

In fact, about 53 real estate pros confirm that the kitchen is one among the vital room of a home that must to be in a good form prior to selling.

Real estate experts advise that repairing minor damages in the kitchen is must to avoid serious second thought of prospective buyers. After making the kitchen completely functional, you can further spend some more hundred dollars, you can spruce up with a fresh look through painting the walls, add matching curtains, updating the cabinet hardware.

Freshen up the bath

To freshen up the bath, it may cost around $300 to $1,000, out of which you can get a potential return approximately of about 2% to 3%. Especially, a prospective buyer prefers to see bathrooms to know how far it is clean and well-maintained.

You can try installing matching and new bathroom fixtures, updating the lighting and mirror that creates an appealing look. Also, if possible you can enhance the look of the bathroom, by installing new toilets.

Opt for painting the rooms

To transform a room more lively, thereby creating a good first impression in the minds of the prospective buyer is possible through painting a fresh coat probably in the entire house. To foster the home sales, you can try painting neutral palette that permits the buyers to concentrate on the home’s attributes.

It goes well with all sorts of furniture, and makes the buyers to stay around a comfortable zone. While painting for amplifying the selling price, it is advisable to do paint in such a way it hides old paint well and create a fairly appealing smooth surface.

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Improve the exterior beauty

Similar to the famous saying,”Face is the index of the mind”, equivalent to the importance given to spruce up the interiors, renovating your exteriors is also mandatory. No one will prefer going to an interview without brushing their hair or dressing themselves in a crisp and clean dress.

Similarly, through mowing the lawn, manicuring the overgrown shrubs, mulching, you can offer a fresh look to your exteriors. You can perform minor replacement of re-pointing brick walls or cracked siding boards, repainting the doorway and also attractive palette paint to the exteriors.

Also, you should focus on the roof, which is also expected by the prospective buyers to be a good condition. 31% of real estate pros stating that the roof is majorly considered by the buyers and one of the common questions put forth by a prospective buyer includes how old the roof is? While replacing shingles, it is recommended to choose from a choice that permits warranty transfer to the next owner.

Buying a real estate during the holiday season

It’s a really right time to exchange gifts, general merriment and entertainments during year-end holiday season. But, have you thought about buying a house during November or December? If you are not choosy regarding the sort of home you prefer to buy then you can go ahead and do it.

Due to wintry climatic condition, short days, most of the sellers do not intend to transact during this time. But, still sellers who are under pressure and motivated will be ready for a deal, that makes easy for a buyer to go ahead with the proposal says, Deihl, associate broker in Boston at Gibson Sotheby’s International Realty.

Deihl also added, “No one who is in right mind would prefer to sell their property during the holidays and hence if a seller prefers to sell his or his piece of real estate, is in the urge to sell”. And that’s makes year-end buying house proposal a great decision. Determined home buyers can make use of this opportunity and take the seller’s urgency of selling their property as an advantage.

Important points to consider

  • As so many sellers are not interested, the downside will be the availability of the limited supply of homes for sales. Keller Williams Realty Realtor Mr. Ken Pozek says, “if you are unable to trace a home that fits your taste, then you should be able to go for choices that aren’t on the market. One strategy which brokers refer as “old expires” means those homes which are listed for sales for several years ago will get sold out at this time.
  • A determined buyer can research for such findings. Another way is for the realtor to send letters to preferred neighborhoods homeowners who are in search of selling their home which meets your expectation.
  • The third approach is to have a meet with brokers who sell homes in large number in your neighborhood and check with regarding unlisted homes that are getting ready for sale or under coming soon category to make a deal in prior.
  • If you try talking to a right agent at the right time, they will definitely lead you to get into a great deal. As there will be less competition prevails, it eases your negotiation process, and you can purchase your home at a favorable price.

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However, with the lesser availability of sales-homes to choose, you must be ready to lower down your expectation. Also, Deihl says, “those properties are generally priced with motive to sell and it becomes an opportunity to give up additional time during this year-end unless during busy market times of the year it is possible to get a better deal of investment opportunity”.

It must be really considered as a pleasant surprise if you can figure out a home that fits your taste. One of the downside during year-end home shopping in cold-weather states is that finding defects hidden by snow becomes impossible which will come to light only during spring. This could be a great concern for buyers, especially in Northeastern states during December to early February, says Deihl.

He added, “Snow cover ups several things and its rest in the hands of the buyer to review the entire landscape as chances of seller hiding pitfalls in the property exists.

Photographs of the property may be taken during earlier in the year. So, through a home inspection, you can mitigate few risks prevails in the home which are especially listed during snowy season to hide its faults.

It is not only buyers and sellers will be off from their work during year-end, but also those realtors, mortgage brokers will also be off as even they have their family and friends to spend time with. Still, many of them work during this year-end as they well know that buyers find time to devote for purchasing during vacation, says Pozek.

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Still, it is recommended to check with your agent regarding their plans, and whether they will able to answer the calls and emails in case of emergency as per your expectation. Most of the Mortgage Company or bank will be available at your service during business hours, unlike individual mortgage brokers who may take off at times.

If you complete your holiday tasks ahead of your vacation time, you could definitely find it easier to go ahead with your year-end home purchase. You don’t need to shy getting into the sellers’ home, as they will also be willing to meet buyers” says Pozek. Also, added” If a home is with “for-sale” sign, it clearly states that you can intrude sellers without any hesitation.

10 powerful ways to improve the value of your real estate property

It is not too late to make the purchase of a real estate even though prices are drastically climbing over the past many years. Many of the real estate investors and homeowners are much concerned about missing their big pocket making chances. But, the truth is it is not too late. Still, unlike the past market scenario, during which every deal finds to be good for buyers, now it is must that you have to hunt for finding the best.

One of the best ways is to buy a real estate property and significantly increasing its value. Without spending more dollars, there are potential many techniques to appreciate the value of your real estate property, here listed below best ten ways to do the same.

Buy Intelligently

The first method that you can technically apply to add up the value, it’s nevertheless the significant way to build up the value is buying the property for $20, 000 less than its market value. In the sense, you have forced an increase of $20, 000 in its value. So, while buying the property itself, you can make a profit for which there are so many methods that you can try executing it.

Try for building one more bedroom

It is one of the best ways to add more value to the home by transferring one of the bonus room into an additional bedroom. If you turn two bedroom home into a three bedroom home, obviously it increases the value of the home, which may cost more or less equivalent to a costly branded wardrobe.

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Improve your property’s curb look

It is true that many investors who are ready to spend thousands of remodelling their home neglect to spend for an outside appeal even for quick printing. Freshly painted home, perfectly manicured lawn, well-defined landscaping are a few of the best ways to appreciate the value and it facilitates quicker sales and higher value of rent as it spruce up the property’s curb appearance.

Increase the rent

Especially if you own multifamily property, increase the rent which is a key way to add up your property value. If you are charging low rents, even a small increase can spruce up the value of your property significantly.

Rent out completely

If you are already charging maximum rents that you can for your property, it doesn’t mean that you are gaining the utmost income out of your property. Still, you can rent out broom closets, storage sheds, garages, simply unused vacant land that will increase your income. Mini-storage is a big million dollar industry; you may try increasing your income through renting out more space which might have missed out from your sight. It will also add up more value to your property.

Augment your fees

Apart from capitalizing funds through all possible physical ways, still you can increase the income through charging fees such as background checks, parking violations, late-rent fees, missed maintenance appointments, paid parking facility and so on.

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Cut down your expenses

You may be at times paying too much for many expenses such as garbage pickup which you may ask for negotiating. You can hand over the responsibility of paying water, sewage and garbage expenses to your tenant and reduce the annual water by repairing those dripping faucets. Even though it costs a few hundred dollars it may save you thousands of dollars. Decreasing the expense is a way of increasing the property value.

Add a bathroom

It is outdated, having one bathroom and if you are remodeling your property, turn the extra space into a small half bath according to the plumbing feasibility. Even though you may require spending many thousand dollars to do so, it will fetch you multiple thousands in the property value.

Tear down unwanted walls

If the walls in the home are not loaded or even not much required, tear down the same and create an open concept feel that spruce up the desirability of staying in the home. This will add up the property value.

Paint the neighborhood

One of the biggest factors that increase your real estate property value is not your property but your neighbor’s. A paint job, manicuring the lawn, landscaping may be a best money you spend that increase your property value. It is true that many people may not ready to accept it as they consider it as “charity”, but if done can increase your property value.

Planning to hire a real estate agent? Ask these questions first

To understand which real estate agent is a better choice to hire, it is likely that you interview them before you hire. Even, real estate agent will expect them to be interviewed by their consumers. To know what to ask while interviewing a real estate agent, continue reading.

Is the real agent is their full time or part time job?

  • The foremost question to ask for a real estate agent is that is it their full-time job, if not, it’s better to skip the next choice. Easy availability makes a big sense in the real estate market, and your choice of real estate agent must be available anytime and must be ready to put forth his or her full-time effort for you.

What is unique with your real estate agent?

  • Realtors are available in distinct sizes, shapes, skill sets, work ethics and personality sorts. To pick a choice that fits you, interview them with apt questions. A good realtor is not a salesperson, but must be potent to say no if something is not possible without any scare. He or she must be capable to understand your requirement, budget and help in finding the best deal in the location you are intending to buy from.

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How many consumers you have handled till now?

  • It’s better to question a realtor that “How many clients have been benefited from your service? Rather than directly asking them to tell them their years 0f experience. It’s better indicator to understand their type of services, and if they have many clients to handle, personally they may not be right choice to pick as their availability to serve you may be less.

Who is on your real estate team?

  • At any point of time, if a realtor strongly suggests you with a mortgage lender, it said to be a red-flag. When a realtor recommends mortgage lender, they will follow it up for you and not necessary, you should go with their recommendations always. But in certain instances, as a real estate agent has a good rapo working with several people, they have a choosy group of people who represent’s their client’s interest.

So, interview them regarding their relationship to work with a team. Your relationship with your mortgage lender, your attorney, realtor everything matters much. There are agents who agree getting gifts or money from the mortgage lenders, which is the right thing to do. Your choice of real estate agent must work towards gaining reputation among their customers through their reliable service.

Do you need a pre-approval prior researching for homes?

  • It is common that clients search for home months together and they stick to one choice. Later, they discuss with a mortgage lender, and understand that they are not qualified to purchase a house. So, if you wish to get a home, it is recommended to get pre-approval to avoid wasting time.

Check the testimonials about realtor?

  • To make a right choice of real estate agent, check for the review about their services. Even though, it is true that most online testimonials are fake, you can try for videos and photos back up as it will definitely authentic than written review.  You can rely upon social media, as in this platform you can directly learn more regarding your choice of realtor’s performance from previous clients.

How they Negotiate?

  • The foremost question to ask at your realtor is how they negotiate on behalf of you? They must possess good negotiation skills whether you buy or sell. They require professionalism in understanding the scenario, analyze it and must know next best move to be taken to win the deal for you.

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Will they personal attend the Home Inspection?

  • Your choice of realtor must personally attend the home inspection instead if he or she represent on behalf of them, then you move to the next choice of real estate agent as they are doing a disservice to you. As you are investing several dollars in purchasing a home, it’s obvious your realtor provides you with each and every detail about the property.

What is their Competitive Benefit?

  • If your real estate agent is unable to provide you competitive benefit, go with next choice. They should capable to explain in what way they can offer or else they are not advantageous choice for you.

What your realtor will offer with their unhappy service?

  • Your real estate agent must provide you with the opportunity to switch over to someone else, if you are unhappy with their service. They should not force you to have a working relationship. Talk to your realtor and try to fix the issue that arises then and there, if you are not satisfied with their response, let them understand it.

You should not be afraid to inform your realtor about your decision of going in a different direction. There should be a proper and mutual respect between you both for a good deal.

“Should I have a home inspection?”

“Should I have a home inspection?”

Real Estate Tips and Tricks

You would be surprised that a lot of buyers have not been introduced to the significance of having a home inspection for a home that they are in contract for.  It seems like a no brainer to many.. however my experience with first time, and even repeat buyers is that they do not really understand why they should spend $400+ if they do not HAVE to. Let me sidetrack for a moment and paint a quick picture of what often happens. You walk into a home that looks like it is straight out of a magazine.. granite counters, new windows,new roof..etc. You could unload your moving truck that day and not have to do a thing.. so you think. Many buyers would ask me why they should have an inspection for a house that has everything done. The answer lies behind the walls. This home could be completely wired wrong. It could have…

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