Our Real Estate Blog
Ready to embark on a new adventure? List your house, and you may reap the benefits of your decision for years to come.
Ultimately, there are many reasons why you should consider kicking off the home selling journey today, and these include:
1. You could profit from a home sale.
Diligent home sellers generally have no problem showcasing their properties to dozens of prospective buyers and generating significant profits. If you know how to effectively promote your residence to property buyers, you could enjoy substantial profits from your home sale.
Oftentimes, it helps to bolster a house's curb appeal prior to adding a residence to the real estate market. A home only gets one chance to make a positive first impression on buyers. And if your residence boasts a dazzling front lawn, pristine siding and other stunning exterior features, it may be better equipped than other properties to stir up interest from buyers.
You may want to get your house appraised too. This ensures you can get a property valuation from a home appraiser and establish a competitive initial asking price for your residence.
2. You can upgrade or downsize.
Although your present home may have suited you perfectly when you initially bought it, now may be a good time for a change. Fortunately, you can upgrade or downsize as needed if you sell your home.
Think about your current living situation and future plans. Then, you can simultaneously list your residence and search for a new house that matches your criteria. And once you finalize your home sale, you can seamlessly relocate to a new address.
3. You can live closer to family members and friends.
If you enjoy spending time with family members and friends, you may want to find a house that is close to these loved ones. Meanwhile, if you currently are forced to deal with a long commute to visit loved ones, listing your house may help you take the first step to live near family members and friends.
When it comes to finding a house near loved ones, it may be beneficial to hire a real estate agent as well. A real estate agent can help you list your current residence and search for a new home close to family members and friends. That way, you can get the support you need to accomplish your desired goals.
During the home selling process, a real estate agent will showcase your residence to potential buyers and negotiate with a buyer's agent on your behalf. He or she also will respond to any concerns or questions that you may have throughout the house selling journey.
Furthermore, if you need to find a new home once you sell your current residence, a real estate agent is happy to assist you. This housing market professional can keep you up to date about available properties in your preferred cities and towns and help you find your dream residence.
Hire a real estate agent today, and you can receive expert guidance any time you want to sell or buy a house.
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.
Listing a house may seem like a long, arduous process, especially for a first-time home seller. But with the right real estate agent at your side, you can receive expert support at each stage of the home selling journey.
What does it take to hire a diligent real estate agent to ensure you can sell your house? Here are three tips to help first-time home sellers employ the ideal real estate agent.
1. Conduct a Comprehensive Search
Search far and wide for a real estate agent – you'll be glad you did. With an extensive search, you can learn about the pros and cons of working with various real estate agents in your area and plan accordingly.
Don't hesitate to reach out to friends and family members for real estate agent recommendations. If friends and family members enjoyed outstanding experiences with certain real estate agents, it may be a great idea to contact the housing professionals who have helped your loved ones achieve their home selling goals.
Also, look for real estate agents who boast many years of industry experience. These housing market professionals are likely to understand the ins and outs of selling a residence. As such, they may be better equipped than other real estate agents to help you optimize the value of your house.
2. Ask Plenty of Questions
If you find a real estate agent who seems like a viable candidate to help you sell your residence, it is important to set up a face-to-face meeting. That way, you can ask questions and determine whether this individual is the right person to assist you.
During a face-to-face meeting, find out what a real estate agent has to say about your residence. Typically, a diligent real estate agent will conduct extensive research before meeting with you and should be able to offer honest, unbiased home selling recommendations.
Furthermore, there is no such thing as a "bad" question, especially for those who are selling a house for the first time. And if you have questions for a real estate agent, a face-to-face meeting provides an excellent opportunity to get your queries addressed by a housing market expert.
3. Get Client Referrals
Ask real estate agents for client referrals. Then, reach out to past clients so you can better understand how a particular real estate agent has supported home sellers over the years.
If a client offers glowing recommendations of a real estate agent, this housing market professional may prove to be the best choice. On the other hand, a client who encountered problems with a particular real estate agent may help you avoid making the wrong decision as well.
Ultimately, the right real estate agent is someone who can help you sell your house and keep you informed as the home selling journey moves forward. And if you spend some time learning about the real estate agents in your city or town, you should have no trouble employing a top-notch real estate agent who can take the guesswork out of selling your residence.
Selling a house may prove to be a high-pressure situation, particularly for an individual who is listing a residence for the first time. However, if you share your home selling plans with family members, friends and other loved ones, you may be able to receive additional support throughout the home selling journey.
Ultimately, there are many reasons to inform your loved ones about your plans to sell your house, and these reasons include:
1. You can respond to any concerns or questions before you finalize your home selling decision.
Loved ones have your best interests in mind, and as such, they probably are unafraid to tell you exactly what they think and how they feel. Therefore, it may be beneficial to tell your loved ones about your intention to sell your house, as you'll be able to receive unbiased feedback about your decision.
Although loved ones might not always agree with your decision to sell your home, it is paramount to open the lines of communication with them. And if you tell loved ones about your plans to sell your house, you can clear the air with them before you list your residence.
2. You may be able to gain extensive home selling insights.
In many instances, loved ones may have sold a house in the past, and you may be able to learn from their prior home selling experiences.
Loved ones may provide you with home selling insights that you might be unable to obtain elsewhere too. Then, you can use these insights to increase the likelihood of a successful home selling experience.
3. You can take the first step to promote your house to potential buyers.
Loved ones can help spread the word about your house to dozens of potential buyers. Thus, if you give loved ones advanced notice about your home selling plans, you may be better equipped than ever before to stir up significant interest in your house.
Of course, once your house is listed, it usually is a good idea to share your home listing with loved ones as well. Loved ones then can share your home listing with co-workers, friends and others, thereby improving your chances of a fast, profitable home sale.
As you get ready to list your residence, you also may want to seek out a real estate agent. Because if you employ a real estate agent, you can get the expert help you need to accomplish your home selling goals.
A real estate agent understands the ins and outs of the housing market and will help you put together a successful home selling strategy. This housing market professional can help you showcase your residence to interested buyers. Perhaps best of all, a real estate agent is happy to respond to any of your home selling concerns or queries throughout the home selling journey.
Want to achieve the optimal results when you list your house? Collaborate with your loved ones – and a real estate agent – and you should have no trouble getting the best price for your residence.
Want to sell your residence? As a home seller, you'll want to take a cautious approach to the real estate market. That way, you can improve your chances of getting the best price for your residence, regardless of the current housing market's conditions.
Ultimately, there are many reasons why home sellers should err on the side of caution as they prepare to add their houses to the real estate market, including:
1. The housing market constantly fluctuates.
For home sellers, it is important to differentiate between a seller's market and a buyer's market. By doing so, a home seller can assess the current housing market and proceed accordingly.
In a seller's market, there is usually a shortage of high-end houses and an abundance of interested homebuyers. This means home sellers who operate in a seller's market may be more likely to stir up plenty of interest in their houses as soon as these properties become available.
Conversely, a buyer's market typically favors homebuyers, as it features a limited number of homebuyers and a wide range of home sellers. If you're selling your home in a seller's market, you'll likely need to price it competitively to help your residence stand out from the competition.
Allocating the necessary time and resources to analyze the housing market is key. With housing market data in hand, a home seller can determine whether he or she is getting ready to list a house in a buyer's or seller's market.
2. What your home was worth yesterday is unlikely to match what it is worth today.
The price that a home seller initially paid for a residence is unlikely to match what the house is worth today. Thus, a home seller should perform a home appraisal to learn about the present value of his or her residence.
During a home appraisal, a property inspector will assess a house both inside and out. Then, the property inspector will identify any problem areas with a house that could negatively affect the residence's value.
A home appraisal is exceedingly valuable to home sellers. It enables them to understand a house's strengths and weaknesses as well as uncover ways to transform a home's weaknesses into strengths. As a result, a home seller can use a home appraisal as a learning opportunity and find innovative ways to enhance a residence before adding it to the real estate market.
3. Homebuyers are always on the lookout for bargains.
Although a home seller will do everything possible to learn about the housing market, there is always the danger that a homebuyer will submit a "lowball" offer on a house. Conversely, a home seller who errs on the side of caution will be able to differentiate between a legitimate offer and a lowball one time and time again.
Lastly, if you need extra help as you get ready to sell your house, don't hesitate to work with a local real estate agent.
Real estate agents are available in cities and towns nationwide. They can help you get your house ready for the real estate market and ensure you can reap the benefits of a quick, seamless home selling experience.
Become a cautious home seller, and you can move one step closer to maximizing the value of your house.