It cannot be denied that mortgage interest rates are very low at present. Plus, although they are rising, home prices are still affordable. This does not, however, mean that any home is bargain waiting to be snapped up. The buyers currently hold all the cards. However, you must make sure that you make careful considerations before you buy. The potential issues you may uncover when researching a property could be serious. Sometimes, this means that you need to fix a problem, but at other times it means that you shouldn’t buy. Two things are of true vital importance, however.
First, inspect the neighborhood. Does it look like everybody is leaving? Ask people who live in the area whether it is a good place to live. Have a look at how the land is shaped. Foundations could be damaged by rain water if the yard slopes downwards to the property. If you notice any bad smells, there is generally something amiss. Next, check whether there are pests. Ask community members of this, as everybody always knows when someone else has pests.
You should now look at the property itself and how it was treated. Check the property for maintenance as well. If you find that the owners haven’t look after the outside properly, the inside is likely to be the same. Make sure to inspect the wiring. Although you probably won’t be able to identify all of the problems yourself, some red flags are easy to spot. If lights flicker or outlets are warm, there is a chance that the wiring is faulty. If you notice that only a few of the walls have been painted recently, it is possible that the owners are trying to hide something. Check the windows. If a window is condensed or moldy, or it opens with difficulty, that may be a sign of very expensive problems.Never even consider purchasing a property that you cannot see in full. If you notice that walls have been changed or other structural work has been completed, you must find out whether this was done by someone qualified to do that type of work.
In the end, it is only you who can decide whether or not you will buy a property. However, you should always exert due diligence. Do only purchase a property once you have had it inspected by a professional inspector. If an inspector does find significant issues, you can decide whether you want to leave the property behind, or whether you want to bargain and bring the price down substantially. However, always be careful that you do not get tied into a money pit.
Necessary Points To Consider When Finding Selling a House
Many people are actually investing in real estate as they feel that they can earn money through this. If you may buy a house for a certain value today, it is going to be more expensive in the next couple of yours if the real estate market will probably be stable. Nevertheless, you’ll need to think about how difficult it is to sell a house. You’ll see tons of articles saying that selling a property is quite easy or there are some adverts informing you that they could sell your house in just a few months. You could bring the price down, but this is not the right thing to do.
You could say that the supply fully outstrips the demand in the real estate market, but you may find different ways to effectively sell your house. We’re going to give you some guidelines on the best way to do this.
Think About the Curb Appeal of Your Home
Always remember that first impression lasts so your house should provide a great impression to the customers as soon as they stop in front of the property. You could always put yourself in the shoes of the customer and see if the curb appeal of your home can attract them. You have to assess if the house can offer a good impression to possible buyers or it needs some maintenance.
The prospective buyer will first see the outside of your home and you need to know that they always pay attention on how the house looks outside. You need to get everything ready in the house and fix everything.
Make Suitable Improvements
You’ll need to make the right improvements outside and inside of the house to draw in your possible customers. They always want a house that is already complete and they won’t have to make any repairs.
If you’re the seller, you must be sure that everything that needs fixing will probably be fixed. Nevertheless, you can’t over improve the house because there are some upgrades that won’t make a big difference in the asking price of your house.
Improvements can improve the value of your house and its chances to be sold, but you can’t make upgrades that will not pay in the end. You must do your research and invest in the things that will offer the best return.
Eliminate The Clutter
If you say clutter, these are actually the things that you must get rid of from the house when you’re selling it. You need to eliminate all your personal items, collectibles and art works because it will not help in selling your home. Take Away The unneeded things in the house and leave the furniture to make the rooms larger. The aim here is to actually help the customers visualize what they really want to do in your house once they bought it. They will begin visualizing the inside of your home once they are inside so eliminate all of the unnecessary and personal items in the house. It’s going to be quite tough for them to do this if your personal items are inside the house.
Put a Reasonable Value
If you’ll sell a home in Salinas, California, you need to make sure that you would place a competitive price. If you put a lower value, it’ll be the same as leaving money on the table and if you put a high price, the buyers will overlook it. When you are speaking about home buying, the buyers will certainly take a look at houses which are similar with yours and compare prices and if the house is very costly, they will not buy it.
You must understand that most of these customers are only depending on home financing so you can expect that they won’t pick a house that is too costly. If the value is low, you can definitely sell the house faster, but your investments won’t be returned.
Employ A Real Estate Agent
You need to know that it’s quite difficult to sell a house without the help of professionals and it’ll also be a bad idea to simply do this on your own. You do not have the experience and knowledge to manage everything so it will not be a good idea to sell your house without hiring a professional real estate agent. If you’ll try to do this by yourself, there is a big chance that your house won’t be sold or you will not get a great deal from it. You may get lucky to find a good deal for your house, but you must understand that selling a property is not about luck since huge money is at stake.
You should hire an agent and let them manage everything for you. You’ll need to pay them for their services, but it’s better than acquiring a poor deal.
Before you do anything else, you need to be certain that you understand how to sell your house efficiently. The real estate market is certainly complicated so you have to know how this works prior to selling your home.
Not everyone in the real estate industry is an extrovert. There are many real estate investors who have very quiet, reserved personalities. If this sounds like you, don’t think for one second that it is impossible for you be successful when it comes to real estate investing. However, you may find that you’ve got to put in more work than the extroverts do. You’ve got to power through being uncomfortable for a little while, in order to better adapt to being around and working with other people. Networking is paramount when it comes to this business. Any time you hear about a networking event, a mixer, or a conference, you need to add your name to the list. Know that it isn’t enough to just “attend.”
You cannot go, shake hands, then leave. You must spend time getting to know people so that they will remember you. No one is grading you on whether or not you go. You can consider an event a success or failure based on how much knowledge you gained, and how many people you networked with. Here are some ways that you can make you less uncomfortable when it comes to attending any real estate investing functions.
Try to get to know people prior to attending the event. Find them on social media, and reach out through a message, or a tweet. You’ll be surprised at how positive their response is likely to be; don’t worry about coming off as a stalker. Chances are, they once did the same thing you are doing right now, and remember just how uncomfortable they were when they reached out to strangers. Let them know that you’re planning to go to the event, and that you’d like to meet up and talk to them when you get there. Try complimenting them on something they’ve done. The fact that you have touched base beforehand will make it much easier for when you arrive at the event, as they won’t seem like a total stranger.
Never show up unprepared. Business cards are extremely important in real estate. Therefore, it is important that you be sure your business cards are in a readily-accessible place so that you aren’t messing around in your wallet, or pocket, to find them. It also makes you look unorganized when you offer someone your business card, and then have to tell them you don’t know where they are.
Another tip is to figure out where the parking garage is before the event. Many garages do not take credit or debit cards. You don’t want to run late to the event, or miss it altogether, because you have to go to the ATM. Find out beforehand if you can attribute anything to the event. Do they need food? Soft drinks? Alcohol? Food is always a great conversation starter, so bring snacks if you can. Food serves as a great ice-breaker. At the event, you’ve got to introduce yourself. Coming up with small-talk isn’t difficult, and you’ll find that after the first question, the conversation will flow smoothly from then on.
Realize that other people at the event are probably just as nervous as you are! A great place to start small-talk at an event is in lines; for the bar, for a table, or the restroom. Sit near other people, not by yourself.
If you’re still having trouble interacting with people at the event, and you’re feeling a little desperate, find someone else at the event who also looks like they are struggling to meet people. This really should only be a last resort, because when you make friends with the shy person, you’ll probably end up only speaking with them. Therefore, the best way to make this option successful is that once you make a friend, ask them if they want to walk around together to introduce yourselves. This may make it easier for you as well.
When talking to people, make sure that you speak slowly, and with diction. Talking too fast has the ability to turn people off, and it also shows a lack of confidence. You also might say something ignorant. Do NOT overanalyze everything when you leave the event. Don’t call yourself stupid for something you said, or beat yourself up if you didn’t make the effort you should have. Introverts have trouble coming out of their caves, and you should be proud of yourself for getting out there!
The fact that your house is still on the market is especially frustrating when you feel like you’ve done everything you’re “supposed” to do to get it sold. So, why hasn’t it sold? Well…here are some of the most likely reasons that your home still has the “For Sale” sign on the front lawn.
You’re really reaching
To put it bluntly…you’ve listed the house too high. It has been said (and proven) by real estate experts that every house can sell if the house is priced correctly based on the market, value, and the neighborhood. If you want to sell the house quickly, the best strategy is to keep the price lower early on, wait a few months, and lower it again. Compare your home to others in your area that have been sold recently. This is because what homes in your area sold for in 2009 are not going to sell for the same today. Whether the numbers were higher or lower than they are now, they still won’t be the same. Your realtor and appraiser will be able to determine the correct number, as many factors go into the price of a home besides what it looks like aesthetically, and how “nice” it is.
Poor judgement when selecting your agent
Another reason your home hasn’t sold is that you didn’t do a great job in choosing a real estate agent. When looking for an agent, watch out for signs like poor communication, dishonesty, or lack of knowledge. Some agents have more listings than they can handle, and either ignore yours, or pay it very little attention. This is especially true if the other listings they have are of higher value than yours. If they have several high listings along with yours, know that yours probably will not be priority. This is why it is so important to ask your prospective agent what and how many other properties they currently have listed. This way, you’ll get a very good indication about how much time they’ll be spending on yours.
Open communication with your real estate agent is paramount to when, and if your home sells. This personality trait in a realtor should be non-negotiable. If you can tell that they are non-communicative, move on right away and get another agent.
Your home isn’t worth what you think it is
Understand that your clients do not see your home the way you do. You may think its the best house in the neighborhood, but buyers look at facts and numbers; they leave their emotion out of it. At some point, you’ve got to do the same. Sellers often have an emotional attachment to the house, leading them to believe their home is worth more than it is. Unfortunately, they don’t even realize that they are doing it.
Do not misrepresent, or tell “little white lies” about your home. The truth always comes out. You will run a buyer off when they find out you’ve lied about anything from the refrigerator to the mold issues in the basement. If you are honest from the beginning, some of the problems you would have hidden can be negotiated. A bad realtor may do this too; you must find an honest realtor who possesses a strong sense of ethics. Do not exaggerate anything in your listing; tell it like it is.
Do not try to sell your home when you are currently doing any major or minor work on your property. Buyers are looking to purchase houses that are already completed. Curb appeal is essential to selling a home, and not every buyer possesses the creativity to envision the home without a dumpster or a tractor outside.
Little, or absent advertising
This is almost inexcusable. It should be obvious that buyers now look for homes online these days. Most people at this point are very familiar with sites like Trulia and Zillow. Your home should be listed on all of these big sites. Equally, if not most important, make sure your listing has photos. If you don’t plan to have photos, don’t bother listing it until you do.
Wrong Time of Year
You need to know what season to list your house. All categories of people such as retirees, families, young couples, singles, and newlyweds all purchase homes at different times. You must determine which demographic your house falls in to, and list it at the times that those groups typically buy. Of course, anyone in any demographic may want to buy your home at any time, so that is impossible to predict. But sometimes, you can gather a decent idea. All the same, timing and price are just as crucial.
The first possibility is that you are coming off way too eager. Eager almost always translates to desperate. You never want to let a buyer know that you are desperate to sell your house, even if you are. Never, under any circumstances, be present while the buyer is doing a walk-through. It puts a serious amount of pressure on the buyers shoulders, and it also makes everyone involved very uncomfortable.
You don’t need to be there to show them how “amazing” the sound-system is. To provide an example of how it makes a buyer feel when you are there, imagine the times that you go shopping and a retail associate will not stop following you around the store like a puppy.
They even happen to be standing right outside the dressing room to tell you immediately how fantastic you look. The first thing you think, is that they are lying, and simply trying to make a sale. The second is, how fast you can get out of there because you feel pressured and annoyed.
The pestering itself is irritating, and you aren’t able to actually look in the mirror to study the clothing and determine how you feel about it. All the same, the buyers may want to ask their realtor questions while viewing your home, and it will make them uncomfortable with you constantly chirping in like an annoying bird. If the buyers have questions, their agent will contact yours. Give them space.
Another possibility your house hasn’t sold, is that it is a complete and total mess. It is essential that your home be in good, clean shape when a buyer comes to view your home. If it is messy, or there are touch-up problems, they will assume you didn’t maintain your home and will then wonder what else has been neglected. Get rid of all of your personal memorabilia, and clear out any junk. If your house isn’t clean, de-cluttered, and free of personal items, re-schedule or cancel the showing. It will be a waste of both of your times.
Consider the possibility that you are being completely unreasonable. There are so many homes on the market in a variety of areas. While buyers may really love your home and want to purchase it, they do not want to deal with constantly arguing with a seller over the price and getting nowhere. If your price is unreasonable and you refuse to negotiate, they will walk. That is if they even decided to view it in the first place, despite the ridiculous asking price.
This is the time to be honest about your home. Look at others in the area, and listen to your agent. If he or she is good at their job, trust that they know what they are talking about in regards to pricing. If you feel they are wrong, contact another agent for a second opinion. If both of their numbers come up the same, it might be time to start accepting the real current value of your home.
One of the most common reasons for a home going unsold is that the buyer or agent has completely misrepresented the details of the home. Do not mislead potential buyers by edited photos, or only taking a photo of your house with the only other nice house on the block next to it. When the buyer gets there, they expect the house to be as advertised. If you wrote “great neighborhood,” and it isn’t, they will deem you as untrustworthy. Be honest about the location. On the other hand, you should not lead the listing with “bad neighborhood,” but you still want to be sure it is noted somewhere in the listing, even if it is at the bottom.
Another reason your home hasn’t sold is that you made improvements, but unattractive ones. Very frequently, sellers renovate their home and believe they did a great job. Sometimes, it can end up looking worse than before, or, just plain ugly. Then the seller feels that since it is newly renovated that they should get more for the house when really, the buyer is thinking about what it will cost them to tear out the work you just did.
Be sure you get second, third, and even fourth opinions on your plans to renovate. Show someone the cabinets you’ve picked out, the appliances, the countertops. Depending on who you speak to, they should give you an honest opinion on what they think. You should not ask someone that you know, unless it is a very blunt friend or family member that isn’t a people-pleaser.
The largest reason that a home has not sold is due to poor, or missing photos. This is possibly the worst mistake you can make out of all of them. When there are no photos, the buyer will completely look over it without a second thought. Think about it. When browsing for absolutely anything online, even an ad on Craigslist, when you see a “no photo,” you don’t even bother.
That is why there is a filter option on most websites that you can click that says “has image only.” Please, post pictures; and be sure to get them up as soon as possible. Do not post the listing when you’ll have the photos in a few days to upload. Do not list it at all until you are able to list everything at once.
There’s no doubt about it, home renovations can be extremely expensive. It’s very difficult nowadays to find come up with the amount of money that remodeling requires, but you may not need to put off those upgrades after all. If you want to start a home renovation project, you can do so by finding creative ways to complete the project within your budget. One of the best ways to save is simply by being flexible in your design. Here are some fantastic ways to save money when you want to renovate your house.
The first best way to save money is to buy as many materials or pieces as you can online. You can save so much money on lighting, tile, plumbing fixtures, and even furniture, by buying online. However, it is extremely important that you take note of taxes and/or delivery charges. Sometimes delivery can cost as much as the item you are ordering.
Go shopping locally, and when you find pieces you like, write down the model or style number. Then, go home and look for them online where you can likely find them brand new for less. Check out online stores such as eBay, Amazon, and WayFair. You can save thousands by doing this.
If you haven’t seen the item in person, it is important that you read the description carefully, as well as the return policy. Many companies will let you return, but will not pay for return shipping, and will also charge you a re-stocking fee. Go to google images, and look up the item; chances are, you can find many more photos that way, and you will then get a better representation of the true color or size of the piece. If you are buying materials online, do not wait until the last minute. It can take weeks for materials to come in; even longer depending on how many you need, and how rare the material is.
If you are going to buy a substantial amount of material, ask for a discount. You’d be surprised how many stores will offer a discount if you buy in bulk. The difference between one person getting a discount and the other person not, is that one person never thought to ask, or was embarrassed to.
You can also let them know that you’re on a budget. Keep in mind, businesses want to make sales. If you ask for a reasonable discount, chances are the retail associate will allow it (though they will usually have to run it by their manager). You can also save money by purchasing a display. That’s always an option that many stores are willing to consider; especially if its last year’s model.
Different towns and states are charged different amounts in regards to sales tax. You could potentially save a lot of money by shopping in an area that has lower tax fees. You can also call, and pay for it over the phone; or, have it delivered!
If you have the time, you might be able to complete some of the home renovations yourself. There are usually small parts of a project that you can do on your own without the use of your contractor. For example, caulking. Always remember, that some things should be left to the professionals. Not only for safety, but also because if you don’t know what you’re doing you’ll have to pay even more money to fix what you tried to fix but failed. You’d be amazed at how much you can learn by simply turning the TV and watching TLC or the other home improvement shows.
Most stores will price-match your item if you show them that the same item is being sold for less somewhere else. You never know, they may give you the same deal. Some stores, like Home Depot, will not only price match; they’ll knock off another 15% if a local store offers an identical, in-stock item at a lower price.
You’ll need proof of the lower price, and it must meet all the store’s conditions, otherwise they won’t match it. Every company has a different policy. After buying, save your paperwork. Some stores will adjust the price within a certain time period if you find it for less elsewhere or if it goes on sale.