How Does Your Home Compare to Others on the Market?
Real estate agents use comparable sales or “comps” (properties recently sold in the area) to see what the market bears for a listing price or value range marketing. But what makes a home a good comp? A few things must line up in order for the agent to utilize the comp to justify your listing price. The same neighborhood, school district, similar street and, of course, similar housing features and size. If these things align, then a comp can be used to provide a current estimated value of your home. Ideally,...
read moreWeighing The Pros & Cons Of A Home Addition
Adding a new addition to your home is a great idea for various reasons. But interest rates and property values can change the effectiveness of your investment. If you are considering building a home addition, you’ll want to consider the following information as you make your decision. Cost Possibly the greatest consideration regarding home additions is cost. Generally, many homeowners opt to build or renovate when interest rates are low and they can take advantage of home equity loans. When budgeting for your addition, it’s...
read moreFive Things You Should Know About Home Inspections
If you’re hiring someone to inspect the home you want to buy, or you’re a seller trying to find out if there are any hidden problems that need fixing before you put your home on the market, here are five things you need to know: You can choose your home inspector. Your real estate professional can recommend an inspector, or you can find one on your own. Members of the National Association of Home Inspectors, Inc. (NAHI), must complete an approved home inspector training program, demonstrate experience and competence...
read moreThe Sweet Spot of Pricing Your Home
When you and your REALTOR® sit down to price your home, you’ll be looking at competitive homes that are the most similar in size, location and amenities as your home. You may find that prices can be thousands of dollars higher or lower. It’s tempting to pick the highest price and say, “Let’s list it here.” But what if your home doesn’t sell at that price? High prices are a strategy that can work in an accelerating market, but it’s risky. Your home can sit for months without selling and...
read moreHow to Negotiate With Sellers
If you dread the negotiating process when buying a home, never fear. Your real estate agent is an experienced negotiator who helps keep the bargaining from becoming emotional and veering off track. Your agent must know your desires by heart and have quick access to you if a negotiation point needs to be made. It’s important to stick to the strategy you and your agent have agreed upon — showing the seller how strong your offer is. First, get preapproved for a mortgage loan. That means your mortgage lender has reviewed your...
read moreEssential 2016 Home Buying Skills
Buying real estate is one of the most complex undertakings of your life. Success is much easier to live with than failure, so decide from the start what “success” means to you in terms of purchasing real estate. Then, be prepared to learn everything necessary to achieve it. Savvy buyers take two approaches when preparing to excel at buying real estate, especially in hot markets and sought-after neighborhoods: 1. Buyers learn as much as they can about the legal, financial, and decision-making aspects of...
read moreWhat Sellers Should Know About Pets and Showings
Buyers and their agents need to feel welcome to look at the property at their leisure without danger or distractions. So while you adore your sweet-tempered pit bull rescue, he could turn territorial, barking and growling at potential homebuyers. And it could cost you the opportunity to sell your home. Think of buyers as guests and work to make them feel comfortable as they consider your home for purchase. If you have a protective dog or one that isn’t well-trained, drop her off at doggie day care when you know your home...
read moreThree Sanity-Saving Tips For Moving-In Day
No matter how intensely you prepare for moving day, you may still face problems if you overlook three sanity-defeating challenges. Can you and your partner really think clearly when swamped by distractions, exhaustion, and disorientation? If the ramped-up activity of moving day represents less pressure than a typical day for you, you’ll probably find your upcoming move-in day a breeze. Most people do not regularly handle logistics and problem solving on so many levels at once, and can become distracted, exhausted, and...
read more4 Things You Should Be Doing With Your Home Equity
You may be sitting on a goldmine. Or a small fortune. Or at least a little chunk of cash. Rising home prices across the country means homeowners have some equity. So what can you do with it? More importantly, what should you do with it? If you’ve got money in your house, you’ve got some options. “Done wisely, you can use the lower-interest debt secured by your house to pay off debts with high interest rates, like credit cards,” said houselogic. “It’s also a good choice if you know exactly how much you need...
read more3 Home Renovations For Maximum ROI
The National Association of Home Builders’ Remodeling Marketing Index (RMI) for Q2 2014 has a composite score of 56, up three points from Q1. A reading over 50 indicates that more homeowners and remodeling firms are reporting renovation activity versus inactivity. Large jobs costing over $25,000 scored a 54. The RMI has now been above the 50-point mark since April of 2013. Regional differences play a major role when deciding on renovations. Georgia and other southern states typically have lower labor costs than the New England area....
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