Living in a home that's for sale doesn’t have to mean living in a nightmare. Here’s how you can manage the situation.
Quite frankly, one of the hardest things to do in real estate is to live in your home while it’s for sale. You want to keep it a liveable environment for you and your family, but you also want it to show well and be free of clutter. So today, we'd like to share some tips with you.
To begin with, you want to begin packing things up. You know you’ll be moving at some point, so you might as well start working on closets and other areas you don’t access often. Have a garage sale for things you want to get rid of, donate things you don’t need, and so on. You want potential buyers to see there will be ample space for them if they choose to move in.
If you want to get a good idea of how long your home will stay on the market once it’s listed, there are four primary factors to take into consideration
How long will it take your home to sell once you put it on the market? There are many factors to consider, but these four will give you a good idea of what to expect:
1. Location. For example, does the home back into a busy road or is it tucked away in a nice, quiet cul-de-sac? Also, what’s the home’s elevation like? Is the backyard sloped in any way?
2. Price. Pricing your home is like going deep-sea fishing—you can have the best equipment possible and know where the fish are, but if you don’t drop the bait where they’re swimming, you won’t get any bites. Similarly, if you don’t price your home where buyers are looking, you won’t get any bites either.
Today I’ll provide you a few key tips homebuyers can use when making an offer in a seller’s market.
When you’re buying a home in a seller’s market, you’ll often be competing with other buyers in a multiple-offer situation, but don’t let that scare you away from making an offer on the home that you really want. Here are a few things to consider if you want your offer to make an impression on the seller:
1. Make a large earnest money deposit. Don’t settle with the standard amount—go big. That will grab the seller’s attention and indicate how serious you are about buying their home. As your Realtor, I’m able to write special stipulations into your contract so that your earnest money is never at risk of being lost.
2019 has arrived and it’s time for our first market update of the year.
A lot of people are wondering whether our North Atlanta Metro market favors buyers or sellers. This is actually a somewhat difficult question to answer.
Why? Well, the truth is that our market’s conditions can vary even just between neighborhoods.
To give a general answer, though, our overall market does appear to be shifting from a seller’s market to a buyer’s.
There are approximately 30,000 homes in our market right now, and while this might sound like a lot, it actually indicates that we have just about 3.5 months’ worth of inventory. To put this in perspective, a balanced market should have approximately six months’ worth of inventory. In other words: Supply is low.
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring....
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together....
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
Our current economy and housing market is strong. That means home values and mortgage...
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.