Tag Archives: House

Is It Good To Let Your House Stay On The Market During Holidays?

If you think that only the warmer months of the year are good times to sell your house, think again. The colder months brought by the upcoming holiday is also a good opportunity to sell your house. Listed below are some of the reasons you can take advantage of.

Fewer home owners sell during holidays.

The holidays, specifically Christmas, send signal to many homeowners that it is an inappropriate time to let their homes stay on the seller’s market. Many homeowners are also busy with their shopping lists, gift-giving, and Christmas parties.

This creates a unique opportunity for you because their will be fewer competitors. This means more chances for your house to get noticed by more buyers who are also taking the opportunity to buy their new homes.

One precaution to observe is to have your house in its best show condition. Have it clean, simple, and attractive.

Home buyers during the holidays are serious buyers.

The Christmas season is a time when most people busy themselves with various activities related to this festive time of the year. Do you think home buyers during this time will waste their times just to make fun of the homes listed in the seller’s market?

There are various reasons prompting home buyers to grab the holidays as a more serious time to buy a house. There are some who are relocating when the year changes. There are also some people who buy homes for tax reasons. Some buyers also grab the holiday vacations to actually conduct ocular of the houses they see on listings.

And because the holidays is a very busy time, be sure to adjust your showing times to the schedules of potential home buyers.

Less hassles to make your house attractive.

Home staging may be a difficult process to homeowners. But because you are selling your house in a time when decorations are fittingly good additions inside and outside your house, you can be sure that it will bring less hassle to make it more attractive.

Be sure to add decorations that will make the overall atmosphere joyous. Do not over decorate that will tend to make your house look and feel cluttered. You can let your house be a mirror of a home in which your potential buyers can imagine themselves celebrating their next holidays on it.

If your house has spent months in the seller’s market. Do not lose hope. This holiday can be the perfect opportunity for buyers to notice it.

And if you need some professional help, your local real estate agent is always a call away to lend his or her expertise.

Top 5 Reasons To Sell Your House To A Real Estate Investor

You are probably wondering why you would want to sell your house to a real estate investor instead of listing your house with a realtor or selling it yourself. There are many very good reasons that you should consider selling to a real estate investor. I will share with you some different options that you probably have never even thought of before, or knew that you could do. I am going to give you the top 5 reasons why you should consider selling your house to a real estate investor.

1) A real estate investor will buy your house from you no matter what condition your houses are in. What this means to you is that you will not have to make any costly repairs to your house. Now if you listed your house with a realtor they are going to want you to make all the necessary repairs to your house before they will list it. The other reason is that most lenders in today’s market will not lend money to buyers that are buying a house that needs major repairs. Now second of all, if you try to sell your house yourself you will still need to possibly change your flooring and repaint your walls. Most buyers in today’s market will not want to move into a home and start making repairs. Therefore you will have a limited number of buyers that might show interest in your house but, they will want to get your house at a large discount.

2) Real estate investors will buy your house for all cash “as-is”, or they can give you up to full market value for your house if you are a little flexible on your terms. A real estate investor will work with you to find out all of your goals for selling your house. Then they will do their best to meet or exceed all of your goals for selling your home. They are professional home buyers helping people solve their real estate problems. They have a lot of experience buying houses from people just like you in all different types of situations. Just to name some of the situations they can help you with are: if your house is just not selling in today’s market, inherited homes, distressed property, vacant homes, probate houses, behind on payments, divorce, house liens and judgments, rental property, expired realtor listing, bankruptcy or if you are just facing foreclosure. No matter what the condition, area, or situation you have with your house a real estate investor can give you many viable options to sell your house fast.

3) If you sell your house to a real estate investor they can close on your house fast usually in 10 days or less. You will be able to get cash in your hand quickly without any of the hassles of selling your house the traditional way. Real estate investors are professionals with lots of experience in helping homeowners walk through the process of selling their house fast. The reason they are able to close quickly on your home is that they work with a large network of buyers that have cash and are ready to buy houses in your area fast. This is not like a traditional buyer that you will get from selling your house yourself or from a realtor. These types of buyers will take at least 30-60 days to close and that would be only if they make it through the loan process.

4) Real estate investors don’t want to list your house they want to buy your house fast. When you sell your house to a real estate investor they will market your house to their buyers at hyper speed. By this I mean if you sold your house yourself you would probably put a sign in front of your house, put an ad in the newspaper or you might even list your house on the MLS for a flat fee. These things are good but at best you will probably only get a small amount of people coming to look at your house but, most of them will be tire kickers. In today’s market there are more houses for sale then there are people to buy them all. The same goes if you were to list your house with a realtor; they will put a sign in your yard, list it on the MLS and wait for people to call. Most realtors don’t continually market your property through other avenues past that. A real estate investor will market your property immediately after you agree on price and terms. They will market your house with all available advertising to get your house sold fast Plus they have a huge list of buyers who are currently buying houses and have the cash to do it fast. Therefore selling to a real estate investor is your best option if you want to sell your house fast in today’s market.

5) When you sell your house to a real estate investor you will not have to pay anything out of your pocket. In fact they work hard for you and with you to get your house sold with no cost to you and very fast. The reason they can do this is that they actually get a fee from the buyer they sell the property to therefore eliminating any costs at all to you the seller. Not to mention real estate investors will give you a net offer on your house. What this means to you is that you will receive that net offer at closing. Now if you sold your house the traditional way buy yourself or through realtor you will only net at closing on average of 80-85% of the listing price of your home. The reason this is true is that you realtor will take their 6% commissions, then you will have to pay losing costs of 2-3%, then the buyer will want a discount of at least 5% in today’s market. After all of those discounts the buyer will have a property inspection of your house done and the inspector will come back with a big list of possible problems which the buyer will want a discount on. This is usually another 3-5% off. most sellers do not realize that this is actually the amount of money that they will net at closing, after they have waited 4-8 months through this whole process to sell their home the traditional way.

As you have probably realized by now there’s a lot more benefits to selling your house to a real estate investor verses selling your house the traditional way of for sale by owner or with realtor. Is your time and money really worth all the hassles and aggravation of selling your house the traditional way? If you sell your house to a real estate investor you will have a fast, friendly, hassle free sale of your house

Should I Buy That Two – Family House?

Some people purchase a two – family house, because, they hope to live, in one apartment, and rent the other, in order to significantly reduce their cost of living! While, this is a great solution, for some, it is not for everyone. For some, they need more privacy, and/ or, don’t want the responsibilities involved, in being a landlord. Other individuals purchase two – family houses, for investment purposes, and it’s essential and important, to begin this process, with your eyes – wide – open, understanding, both the advantages and disadvantages. While, a well – considered, properly priced, property, may be a fantastic investment opportunity, there are some others, that may not be, for certain reasons. With that in mind, this article will attempt to consider, examine, review, and discuss, these two scenarios, and the process, one should go through, prior to making the commitment.

1. Owner – occupied: An owner – occupied, two – family house, is eligible, for very similar mortgage conditions, and requirements, as a single – family home. Often, this is about 0.5% or more, lower rate, than when the owner does not live there. What rate of returns, and other relevant concerns, should be considered? Begin, with considering, cash – flow, meaning, the owner’s outflow, versus, the rent, collected, How will this compare, with your costs, if you purchased a single – family home? How comfortable will you be, being a landlord? Are you handy, or will you need, to hire others, whenever there is a necessary repair, etc? Do you have the type of personality, which might handle, some of the inherent stresses and strains, involved? Will you be happy, sharing the property, ensuring your tenant, takes decent care of the part, they occupy, and any potential challenges, in terms of privacy, and other issues?

2. Non – owner occupied: Begin, with a realistic evaluation, and analysis, of the revenues, versus expenditures. Will you generate sufficient cash flow, to avoid having additional financial challenges, and stresses? Unless, you are convinced, there will be a cash flow – positive, situation, you usually should avoid the investment. Consider only about 75% of the realistic rent – roll, in order to account for vacancies, and other unforeseen contingencies. On the expense side, add your mortgage payment (including principal, interest, real estate taxes, and escrow), to your monthly contributions in various reserve finds, for repairs, renovations, upgrades, etc. If this is positive, then move – on, to a rate – of – return, or ROI/ return on investment, analysis. Consider your total cost of purchasing the property (purchase price plus initial renovations/ upgrades/ repairs), and your annual rent – rolls. Seek at least a 6% return.

An investment property may be your smartest move, or a risky, unwise one! Take these easy steps, from the unset, and proceed accordingly.

House Buyer’s Guide

Question: Where can you find a good house buyers guide? Answer: At your very fingertips. Before the advent of the Internet’s World Wide Web, specialized real estate magazines and the yellow pages of the telephone directory were handy tools for house buyers. Even now that the internet is more popular, you can still refer to those because they are not yet extinct and they are even more relevant to your needs, especially for information from those local publications that could direct you to what properties are up for sale and the corresponding terms for each one that are locally available from which you could choose.

If you are computer savvy, Internet technology is, of course, an even handier tool for you through which you could find a good house buyers guide. There are search engines that could open informative Websites featuring simply written house buyers guides for you. Some websites even make the effort of featuring the different local government-imposed real estate laws and taxes distinctively in effect in every state, and you can narrow down your surfing to just those things that concern you. Knowing how to surf and using the Web search engines effectively could save you not only on legwork and precious time, but also on your time online.

From wherever source you have available to you or which you prefer to use, a good house buyers guide should give you all the information you need — but for it to be a truly effective tool, you should first make a comprehensive list of your questions. First in your list for consideration should be how much could you afford. After defining how much you have set aside for a down payment, work on your net income. Make a clear-cut list of your income and expenses; do not forget to include the taxes you pay annually, and the self-imposed ten percent savings in the bank for contingent expenses. Look out for owner financing schemes that may be available to you, too.

Get the bottom line figure and that would spell to you what you actually have and could spend for this major project. This figure will tell you what kind of a house you could afford to buy, so you would not go overboard and buy something that is utterly beautiful and tasteful but also utterly out of your reach. This figure will define your lifestyle during the amortization period and until the deal is sealed (fully paid).

This financial consideration, among others in your long list of questions, will be answered for you by a good house buyers guide. It will give you a more realistic view of the project that will help you in your decision-making.

Cesspool Inspection When Buying a House

People who look for new properties are concerned about the aesthetics of the house or the landscape, but only a few consider asking about the septic tank or cesspool. However, cesspool inspection is important when obtaining a property. Cesspool services are necessary in many cases. You have to learn the value of cesspools in homes.

A lot of home buyers are not too concerned about cesspools. Knowing whether the cesspool is in good condition and functional is important whenever you are about to buy a property. You have to ask your realtor about this, and he or she should be able to give you an answer. A realtor who does not know the condition of a property’s cesspool or septic system cannot be trusted.

The problem with cesspools is they are buried underneath the ground, so you cannot be sure if the one in a prospective property is in good condition. A specialist should be called to do an inspection. There are companies that offer cesspool services including inspection. Keep in mind that an inspection is just an inspection. The service specialist will not fix problems unless you specifically ask him to do so. You probably will not need cesspool repair unless you really are planning to move into the property. If a property you are looking into has damaged cesspool, you can consider a repair service. If not, you can look at another property.

Cesspool inspection is a dangerous task if you are untrained. This is why it has been stressed that only a trained professional should do the task. You may only do as far as removing the cover. The next step should be reserved for the trained professionals.

How would you know if it needs service? A faulty cesspool may leak and cause contents to pollute the surrounding soil. In this case, foul odor will diffuse from the ground into the air. If the area smells like rotten eggs, the pit must be damaged. Water leaking from the pit will also saturate the ground around it. Look for signs of sogginess. You would also know if the cesspool is draining properly if the leach field has green grass. If not, the drainage lines must be clogged.

Cesspools should be checked regularly for signs of clogging or leaks. Settling solid matter and scum may build up and block drainage pipes. Such event poses problems in the future, but this may be momentarily un-obvious. Ask the realtor if it has been checked in the past year. You don’t want to buy a property and then spend your bucks getting the troublesome pit serviced.

Supposing you have bought the property and then sometime in the future you encounter a problem with the cesspool, what would you do? In this case, you can contact a septic plumber or a cesspool cleaner to find out what the problem is and fix it. Cesspool and septic tank services may be available in your area. Be careful when checking out your cesspool on your own. The gas build-up is toxic and flammable, not to mention extremely sickening.

Buying A House In A Recession Time – Pros and Cons

Buying a house in a recession time has both pros and cons, and both of these aspects should be examined before this move is made. During a recession the US economy is down, the housing market and home prices are depressed, and there are high unemployment numbers. Consumers tend to become nervous about making big purchases or long-term financial commitments, and lenders require great credit to even consider a mortgage loan. With all of this it can make sense for some individuals to purchase a home during these economic times, as long as the pros outweigh the cons. A careful evaluation should be done to examine the individual situation, and this can help determine whether the advantages of buying a home during tough economic times are worth the drawbacks.

Pros: There are many advantages to buying a house during a recession. As long as you have a 700 or higher credit score and can provide a 20% down payment most lenders will offer a mortgage. In a recession housing values often plummet, and this means that you can get a home for much less now than you could five years ago. There is a wide range of homes on the market, and these include foreclosures as well as private sellers. The current mortgage rates and interest rates are incredibly low, and the homes on the market are priced at fantastic savings in many cases. Another pro is that first time home buyers can take advantage of tax credits worth thousands of dollars. In addition to a large number of foreclosures many home owners have found themselves underwater, and may be extremely motivated to sell. The housing market is a strong buyers market right now, making it an ideal time to buy for many.

Cons: While there are many benefits to buying a house during a recession it is important to remember that there are also drawbacks as well. During a recession the future economic outlook is not clear, and there is a lot of uncertainty. Home prices could continue to fall after the home is purchased, causing you to lose value and equity quickly. You could end up losing your employment if your employer downsizes or closes the doors, and this could make it impossible for you to stay current on the mortgage payments. In tough economic times many people move to a better location, and if you have purchased a home this may be difficult to do. The rising cost of fuel and food may make finances tight, and this could result in foreclosure in the future.

Buying a house during a recession will make sense for many people. You can get a larger and higher priced home for less thanks to dropping home values, but this could also be a drawback as well after you have made the purchase. This method can be very beneficial for many, but it is not right for everyone. For some individuals the drawbacks of this purchase and the uncertainty caused by the poor economy mean that now is not the time to purchase a home.

Why Do You Want To Buy A House?

There is no such thing, as a one – size – fits – all reason, or set of reasons, individuals decide, and/ or desire, to buy, a home, of their own. Some do it, because of family needs, others may want to own pets, etc, and others, decide it makes more financial sense to own (than continue renting), and/ or want to live, somewhere, where they might put, their personal seal, on the accommodations, or seek a specific lot of land, etc. These are just, a few of the reasons, but to ensure, one purchases, when it serves their best – interests, and does so, intelligently, and in a focused manner, prospective homeowners should clearly know their personal reasons, thoroughly, and in a somewhat, objective way.

1. Can you afford owning?: Owning a house of your own, requires accepting a far greater degree of personal and financial responsibility, than renting. Renters don’t have to worry about most maintenance items, especially major expenses, etc, but that, all, changes, when one owns. Start by thoroughly considering your present finances, including savings, earnings, debt, and preparedness. Will you qualify for an affordable mortgage? Have you saved, and accumulated significant reserves, in order to be prepared, and ready, for any foreseeable possibility? Wise homeowners put together reserves for repairs, renovations, upgrades, and maintenance, etc, in addition to possessing a mortgage reserve, of approximately 6 – 9 months, equivalence. Since, for most, the value of your house, represents your single – biggest, financial asset, doesn’t it make sense, to proceed wisely, and in a focused way?

2. Area/ neighborhood: When you rent, your lease is for a finite period, so it is rather easy, and straight – forward, to relocate to another locale, if you discover you, either don’t like the particular area, neighborhood, region, or house, or if your life circumstances, change, such as employment, etc. Obviously, since selling a house, is a little more complicated, timely, and less predictable, this should be one consideration, before proceeding.

3. Really want to own a pet or pets: Only a minority of rentals, permit individuals to own pets, and, even, then, must be clearly specified, and is often limited. For true pet lovers, who simply don’t want to be without a beloved pet, it might be one reason to purchase a house.

4. How much land do you want/ need? Some love having a larger lot, either for flowers, gardens, etc. Others want to have place for patios, pools, or convenient places for their pets, to roam. However, others do not want that type of responsibility, and/ or can’t afford to maintain these (Isn’t that one reason, some prefer condominiums?). While some want large lots, others seek somewhat less. Know thy self!

5. Mortgages: Most home buyers purchase houses, with the aid, of a mortgage loan. One consideration is how much you qualify for, and perhaps, equally important, is how much you will feel comfortable paying. Remember, your payment includes principal, interest, real estate taxes (and other escrow items including insurance, etc). Don’t become, house – rich, and life – poor!

Before buying your home, fully consider your needs, desires, wants, and means, and proceed, wisely, and in a way, where ownership will be a pleasure, rather than a stress! Will you proceed wisely, or impulsively?

Is There A Perfect Time, To Buy, A House?

As someone, who has been a Real Estate Licensed Salesperson, in the State of New York, for over a decade, as well as having, also, had a considerable degree of experience, in financial sales and advising, as a financial planner, and Registered Representative, Supervisor, Manager, and executive, I have often, been asked, when/ if, there is a perfect time, to buy. Whether this is related to buying stocks, bonds, or other investments, or buying a home, the attempt to market – time, has rarely worked, consistently. While, with other investment, a disciplined approach, works best, in most cases, in buying a house, the best approach, is probably, proceeding, in a well – considered, introspective, objective manner, and honestly knowing and understanding your personal needs, goals, priorities, comfort zone, and personal finances. With that in mind, this article will attempt to review, consider, and briefly discuss, how, although, there is no perfect time, it is wise to consider, when it’s best, for you.

1. Personal needs, goals, priorities: Why do you want to buy a house? What about a particular house, attracts you? How many bedrooms do you need, and how many would you prefer, and why? How about bathrooms? What do you seek in your kitchen, and why, and what do you actually, need? Are you able to look past the staging, etc, to determine the difference between quality, and perceptions?

2. Comfort zone: Sit back, and look, objectively, and introspectively, so you know, why you want a house, what you can afford, and what amount of monthly payment, might conform with your personal comfort zone. You don’t want to end up, house – rich, and unable to proceed, with less stress, etc! A wise home buyer, finds a house, which exceeds his needs, meets some of his wants/ dreams, and does so, without excess stress, tension, and/ or, hassle!

3. Personal finances: Do you know, what you can afford? Many factors should be considered, including, down – payment, reserve for items such as contingencies, repairs, renovations, utilities, etc. Simply because you have the down – payment, and qualify for a mortgage, doesn’t necessarily mean, you will be well – served, by the financial necessities of home ownership! Know yourself!

4. When matters!: Certain factors are extremely important. What are the present mortgage interest rates, and how large, a mortgage will you need? Understand, small changes in these rates, matter! What about supply, and demand? Don’t purchase something, you aren’t satisfied with, either to Keep up with the Joneses, or to take advantage of the present market, because if you do, you might be disappointed, in the long – run!

Be a smart home buyer. It’s not about trying to buy at the perfect time, but finding what you need, not over – paying, discovering something, you’re pleased with, and being able to afford it!

6 Home Buying Considerations Other Than The House

We often focus on the bones – of – a – house, when deciding whether to purchase a particular residence, but, while that’s essential, an educated home buyer, recognizes and realizes, there are other relevant considerations, as well. In fact, before one, should even view and/ or consider a particular house, he should thoroughly consider these factors, to ensue he will also be happy, and satisfied, living there. With that, in mind, this article will attempt to briefly, examine, review, and discuss, 6 important home buying considerations.

1. Location/ convenience: A central premise in real estate, is, Location, location, location. The greatest house, in a less – than – optimal neighborhood, and/ or area/ location. serves very little positive, productive purpose! Some of the factors included in this sub – topic, include: Does it meet your personal needs?; Does it simplify or complicate your life/ existence?; Are the things, you personally, prioritize, readily available, and convenient, in this location?

2. Safety: Check the safety statistics of the areas, you are considering. What are the crime rates, relative to other alternatives? How safe does the area make you feel? Will your house be safe, largely free – of – crime, and is there, little crime, vandalism, etc, in this vicinity? Who wants to live somewhere, where he feels unsafe, and/ or insecure?

3. Education: Whether you have school – aged children, or, simply, want to assist your future ability to re – sell the house, the local school system, must be, both, actually, as well as perceived as, being superior, and above – average! If you have children, you want them to get the best education, possible, from the local schools, wouldn’t you?

4. Transportation: Since many individuals commute to work, the ease, quality and/ or convenience of mass transit, is often a relevant factor. In addition, how easily can one get to places of interest, including shopping, the arts, etc?

5. Shopping: Most people want their essential shopping, to be as easy and simple, as possible! Especially when this comes to food shopping, pharmacies, and conveniences, individuals would rather, not have to go out of their way, to do, what they feel, most essential.

6. Specific neighborhood: Even within the same, basic area, there are often significant differences, from neighborhood, to neighborhood. Where I reside, some people live uptown, while others prefer living near the water. Depending on one’s personal priorities, and preferences, this often makes, a significant difference, in where one wants to live. Speak to some of the neighbors, and determine, if you’d like to live there!

Using these 6 home – buying considerations, often, help people determine the best place, for them, to live. Will you do what’s in your personal, best interest?

A 5 – Step Plan To Prepare To Buy A House

Although, owning a home of one’s own, is often considered, a major component of the so – called, American Dream, wouldn’t it make sense, to effectively, plan, to ensure this doesn’t become a nightmare, instead? After, over fifteen years, as a Real Estate Licensed Salesperson, in the State of New York, I have created, what I, often, refer to, as the RICH IDEAS, for proceeding, wisely, in terms of buying a house. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, a 5 – step plan, for properly, effectively, wisely, being prepared for this process, and proceeding accordingly.

1. Put together/ accumulate sufficient funds, for a variety of requirements and necessities: It’s smart to proceed, as well – prepared, as possible, from the beginning. Well – before, you start searching for a house, begin saving money, in a systematic way. Remember, you will not only need funds, for the down – payment (often, but not always, 20%), but, also, funds for other Closing Costs, including, but not limited to, pre – paid real estate taxes, utilities, and other, so – called, escrow items. In addition, most lending institutions require a demonstration, and proof of funds, equal to several months, of mortgage payments.

2. Obtain a copy of your Credit Report (if husband and wife, get both): You are entitled, once per year, to request a free copy of your Credit Report, from one of the major credit organizations/ companies. Review this document carefully, and correct any errors. If your rating is not, as high, as a lending institution may seek, begin to take steps, to enhance and improve it, sooner, rather than later!

3. Pay – down other debt: Lending institutions use formulas, to determine one’s qualification, to receive funds. These are generally, focused on, one’s percentage of debt to income. Therefore, pay – down your other debt, prior to beginning the process!

4. Don’t add any other debt: Avoid acquiring any more debt, regardless of how convenient, and/ or, appealing, it may seem, at the moment. Don’t fall into the trap, of, accepting new store charge accounts, because doing so, may compromise your credit worthiness, when you seek a mortgage!

5. Shop for homes, within your means: Avoid the trap, of becoming, house – rich, and seeking to purchase a home, beyond your comfortable means! Know, how much, you can afford, comfortably, and securely, so you choose, wisely, and remain, comforted!

Since, for most of us, the value of our house, is our single – biggest, asset, doesn’t it make sense, to proceed, carefully, and wisely? Will you be up to this task?