When Is the Best Time of Year to Buy a Home?

When it comes to buying a home, not all times of year are created equal. While there is some difference depending on your geographic location, certain times of year are more competitive than others. A more competitive time will drive prices in your housing market up. You want to avoid these times of the year if you want to land the best deal on your new property.

 

In general, prices tend to drop during the autumn and winter months. We’ll dive deeper into why this is and what you need to look at in your own home market before making a purchase. As always, a qualified real estate agent is a great tool for guiding your home search, and they can provide specific information about your situation.

 

The Best Time to Buy a Home

Let’s be clear, there is no single best time to buy a home. There are pros and cons of all times of the year. During some months, you’ll find that prices are the lowest. Yet, you’ll also have to deal with a smaller selection of properties. On the other hand, prices might be up but there’s a wider selection.

 

According to Nerdwallet, prices are lowest in the winter. Prices can be up to 8.45% lower in most metro areas during January and February, so it’s worth waiting until the weather cools off. What’s the reason behind this trend? It’s most likely the weather itself. The colder months make it significantly less pleasant to search for homes, not to mention many families are still recovering from additional holiday expenses.

 

However, you’ll also want to consider your unique location. If you’re in a warm climate, for example, you’re not likely to see a big dip in the housing prices during the winter months since there isn’t as much extreme weather. The best way to learn more about the natural rise and fall in your local housing market is to compare your location on websites like Zillow and Redfin.

 

The Worst Time to Buy a Home

Now that you know that the best times of year to buy a house is in the fall and winter, let’s talk about the other side of the spectrum. When should you avoid buying a house? As expected, for most metro areas, that time of year to avoid is summer. June and July experience the highest number of homes on the market as well as an increase in homebuyer competition.

 

Because competition is higher in the summer months, you’ll more likely need to bid on your favorite property, driving up prices. However, having a larger selection might be worth it to you. As we said before, there is no “perfect” time to look for a home, but it is important you understand your real estate market before you start your search.

 

Final Thoughts

Last but not least, don’t forget to consider interest rates when you consider the best time to buy a home. Interest rates naturally rise and fall throughout the year, and you don’t want to borrow when rates are at their highest. Unfortunately, there is no cut-and-dry way to anticipate home interest rates, but you can look at projections from the Federal Reserve for a better understanding.

 

As you can see, there’s a lot to think about before you jump into the real estate market in search of your perfect home. Buying a home is a big decision with many layers. As long as you’re smart about when you plan to buy a house, you can find a great deal.

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The Most Expensive Homes of 2018

It’s been an exciting year for real estate in 2018 with homes sales skyrocketing. It’s also been an exciting year thanks to some of the most expensive homes going on to the market. These homes encapture class, elegance, and royalty. Of course, not everyone can afford these homes but it doesn’t hurt to look and see what people are willing to spend when it comes to their luxury home. 

 

610 Los Trancos Road, Palo Alto – $96.8m 

 

I’m sure it doesn’t come as a surprise to many that our journey starts in California. the 20-room main home of the estate has five bedrooms, seven bathrooms, and a one-bedroom detached guest house. This home also features an indoor top of the line bowling alley.

The home has four floors that each tout huge rooms where family, friends, and business partners can gather for a comfortable get together. Just imagine having a house that has a room called “Pizza Room”, now that’s luxury. 

 

19 Great Island Road, Connecticut – $120m 

 

What can 20 more million get you? Well, an entire island. This lovely home is seated in the middle of its own island on the expensive Connecticut shoreline where some of the most expensive homes already are. The property dates back to 1905 but of course, has had many updates and renovations. Oh and the house just dropped it’s price by 50 million if you’re interested, now that’s a steal, right? 

 

The Manor, Los Angeles – $175m 

 

Back to California with a property that earns the title “The Manor”. Constructed in 1988 by Hollywood power couple Aaron and Candy Spelling, it sits larger than the White House. The house was recently renovated and it holds anything you could ever want. It was recently sold to celebrity, petra ecclestone.

There are seven bedroom suites, seven staff room, grand living room, movie room, bar, family room, library, office, service wing, billiards room, games room, two-lane bowling alley, wine cellar, catering kitchen, gym and a fully equipped beauty salon including masseuse and tanning rooms. You’ll never have to leave home. 

 

The Beverly House Compound, Beverly House – $195m 

 

This gigantic home has a two-story library and 19 bedrooms. It can fit your family’s, family, family. It was also featured in iconic movies such as The Godfather and The Bodyguard, which makes the price go up. The home has two swimming pools and a tennis court that are sure to impress all your friends. 

 

The One, Bel Air – $500m 

 

There are many more gigantic homes leading up to this one but let’s just go ahead and tackle the one everyone is talking about, “The One”. Half a billion dollars is no joke, you’d have to be a prince in Bel Air to own this home. The house sits in the LA hills with panoramic views of the ocean on one side and of the city of LA on the other.

Being twice the size of the white house, this home sits in the category of a giga-mansion. The house has floor-to-ceiling aquariums full of jellyfish, a moat that surrounds the 20-bedroom property, four pools to choose from, and even its own nightclub. Want to go out bowling? No need because there’s a four-lane alley. 

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The Best Kinds of Homes to Buy in 2019

If you’re planning to buy a home in 2019, there’s a lot you need to know. This past year has seen growing competition in the housing market as there are fewer homes on the market compared to the growing number of buyers. Mortgage rates are also on the rise at their highest levels since 2011, and this is intimidating to many potential home buyers. 

 

Luckily, home prices are expected to slow down their rate of growth in the next year. This gives many new buyers some room to breathe while they look for a fit for their budget. The next generation of homebuyers, Millennials, account for 45% of homebuyers and that percentage is only expected to grow. With a new generation comes new trends in the real estate market. 

 

With all of these stats and predictions about 2019, what kinds of homes should you be looking for this year? Here are the best types of homes to buy if you’re looking to make a purchase in 2019. 

 

Booming Markets

First, the easiest way to identify a good investment in a home is to look at the market. Some real estate markets are experiencing major booms right now, and these are only expected to grow in 2019. Where do we see the biggest growth? Here are the top cities to look out for:

 

• Phoenix, Arizona – Increasingly affordable with 1.6% annual population growth each year
• Atlanta, Georgia – Another affordable location with 3% population growth
• Cape Coral, Florida – A Moderately affordable city with over 3% population growth

 

Of course, it’s not always possible to move long distances, but it might be worth considering one of these locations if you’re looking for an investment property or a great home deal. Within these cities above, you can find everything you need to secure a home you love that will gain value over time. Now is the time to make a purchase while the market is still hot but not too competitive. 

 

New Constructions

Since March 2018, the average price for new construction homes has been on a steady decline. In fact, it’s decreased by over 7 percent in the past year. That means the time is now to make a purchase on a new construction home. 

 

One reason for the lowering cost of new constructions might be that builders are trying to create a wider range of price points. While there’s certainly a focus on building more luxury rental properties and high-end homes, we’re also seeing a shift in price points that appeal to all buyers today. 

 

There are also a lot of advantages to a new construction like lowered energy costs, less risk of damage and repair, and more customization options. The verdict is that if you’ve been thinking about owning a new construction, now is the time to make a purchase. 

 

Second-City Suburban Homes

In the past year, we’ve seen the rise of a new term in the real estate industry known as “second-cities.” These are smaller U.S. cities that have experienced booms in their downtown that attract young adults, especially Millennials. Millennial adults are building their own communities both in and around second-cities, and these are the perfect homes to buy right now. 

 

More Americans are moving to suburban homes around these second-cities, and this population growth is fueling a growing housing market. Single-family homes in these newly popular cities are popping up everywhere, many of which are lower-cost DIY properties. If you’re up for the challenge, 2019 is the time to act. 

 

As you can see, a lot is shifting in the housing market in 2019. Trends of the past are slowly fading away as a new generation of home buyers enters the market. Thankfully, housing prices aren’t expected to rise as quickly as they have been in the past, and this means more room for growth across the industry. Are you ready to buy a house? 

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How to Deal With Your Lender When Going Into Foreclosure

If you’ve been unable to afford your mortgage payments, a foreclosure might be on the horizon. A foreclosure is a legal process when your mortgage lender takes over your home. Your foreclosure might feel set in stone, but it’s actually a pretty lengthy process that leaves some flexibility. The good news is it’s not too late to take action. As long as you’re still in the early stage of foreclosure, there’s time to find a solution. Foreclosure has a harmful impact on your credit and homebuying prospects in the future, so you want to avoid this outcome at all costs. 

 

The longer you wait, the less time you have to solve the problem. While it might seem like your mortgage lender is the enemy in this situation, they’re actually your lifeline. In fact, 6 out of 10 homeowners who are delinquent in their payments aren’t even aware of the services lenders have to offer those struggling. 

 

Lenders want to get paid. They know their homeowners experience financial challenges. Most likely, they’ll be willing and able to work with you to create a solution that works for both parties. Here’s how to deal with your lender when you’re going into foreclosure on your property. 

 

1. Know Your Rights

First, you need to educate yourself about your mortgage rights. Start by reading through your loan document. You might need to learn more about some of the common mortgage terminology to make sense of this agreement. 

From there, learn about your state and local rights. Every state has different laws when it comes to foreclosure. You’ll need to educate yourself about these and their timeframes, so you know what your lender’s options are if you’re unable to continue making mortgage payments. You can find this information on your state’s housing office website. 

 

2. Talk To Your Lender

Your first line of defense after learning about your rights is simply to talk to your lender. It’s tempting to ignore the problem and to put off taking action, but the longer you wait, the fewer options you have. 

Open all mail and answer the calls from your lender. They want to get paid, and they’re likely willing to work with you in finding a compromise. Until your home is scheduled for an auction, there’s room for compromise. 

Call your lender and ask if they have options for repayment assistance. They might be able to allow you to make interest-only payments for a while, or they might direct you to federal programs for housing assistance. You have options, but you need to be open with communication. 

 

3. Consider a Short Sale

If you’re unable to work out a compromise with your lender, you might want to consider a short sale. A short sale is when you sell your property for less than the amount owed on the mortgage in order to repay the lender. While your lender doesn’t have to accept this offer, they must consider it if you do get an offer from an interested home buyer. 

Because your lender is just going to sell your home once it’s turned over to them, a short sale is a way to save them time without having to foreclose your home. However, navigating a short sale isn’t always easy. Be sure you’re ready to take on the process before you list your home. 

 

4. Find Additional Income

You might be able to find additional income to keep your home. While having an additional job or side hustle isn’t always possible, you can always rent out your home. Having a renter in your space is an effective way to make an income to put towards mortgage payments. 

Depending on the size of your property, you might be able to rent only a single room. In other cases, you might need to live elsewhere while you rent the entire home. Once again, make sure you fully understand the responsibilities of becoming a landlord. 

 

Avoid Foreclosure with These Steps

Unfortunately, it’s not always possible to escape foreclosure. If the above steps don’t work for your situation, it might be time to consider filing bankruptcy. Bankruptcy will stop your foreclosure in its tracks, but you’ll still be on the hook for your mortgage debt. 

The best solution is to simply communicate early and often with your mortgage lender. This will place you in a good position to compromise in some way. Alternatively, look into local and federal assistance programs that can fill the gaps in income. If you’re facing a mortgage, you aren’t out of options. Just make sure you’re proactive and take advantage of the lifelines offered to you. 

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Things That Every First-Time Homeowner Should Know Before Moving In

Congratulations on buying your first home! As a first-time homeowner, you’re surely incredibly excited to start this new chapter of your life. However,

you should be sure that you are prepared to move into your new home without any surprises.

 

Here are a few things you should know as a first-time homeowner before moving into your new house.

 

Remember to Change the Locks

In many cases, you’ll find that the previous owners did this for you. However, sometimes they don’t, or you simply didn’t think to ask. In either case, you should be sure to change the locks as soon as you’re ready to move in. If not, you don’t know who might have access to your new home.

Replacing your locks is an incredibly cheap and easy task, so there’s no reason not to do it. Better safe than sorry.

 

Know What is Covered by Your Warranty

Often, homeowners will have a warranty on their home which can partially or fully cover repair costs to different aspects of your home. As this can be incredibly helpful, you should check to make sure which components of your home are actually covered. 

For example, you may have an incredible warranty which covers things from your HVAC system to your home’s appliances. Knowing what is covered by your warranty can help you keep your home in great condition over the years.

 

Check the Plumbing

One of the first things you should do when you move into your new home is check all plumbing and fixtures. While the home inspector should have done this, it’s worth the effort to double-check.

Make sure to inspect faucets, toilets, and your water heater for leaks. Leaks can cause incredibly costly damage to your home, so be sure to be thorough in your investigations.

 

Clean the Carpets

Another thing you might not have considered is steam cleaning the carpets in your new home before moving in your furniture. While most sellers are responsible homeowners who will likely have already completed basic tasks like this, making sure to steam clean the carpets before moving in can help you feel more comfortable in your new home.

 

Find Your Home’s Main Controls

You should also be sure to familiarize yourself with the locations of the controls that operate your home’s main features. Things such as water valves, gas valves, electrical meters, circuit breakers, and other essential controls might be located in various locations around your house, so it’s important to know where they are in case you need them.

 

The Age of Your Home’s Equipment

Additionally, you should be sure to find out when the last time your home’s equipment and appliances were replaced or repaired. Things like your HVAC system and water heater can be expensive to replace if not covered by your warranty, so you should make sure you’re aware whether or not you’ll have to make these replacements any time soon.

 

Being a first-time homeowner can be incredibly exciting. Making sure to follow these tips before moving into to your first home can make this time of your life that much better and easier.

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How to Sell Your Home Privately

When selling your home you always want to get the biggest return possible. A way to do that is to sell your home without a real estate agent. This might be intimidating but when you sell privately you have complete control over the sale of your home. 

 

A real estate agent might have many other clients besides yourself so you can give your home your whole attention. No having to go back and forth with someone over decisions that need to be made. If you have the time for it, selling privately is an excellent option, and here are the steps to do it. 

 

Be 100% Ready To Move

Don’t expect to wait a month or two before you move. Have the majority of your things ready to go so that you don’t have to rush when the time comes. Clients hate having to wait any longer than already agreed upon so have any of your personal moving details ready and handled. 

 

Find Your Price

Check your homes price through various online websites that provide that service for free. Compare it to other homes around in the area and what nearby amenities your house has. This part gives you a goal to head towards when selling and will decide who you attract. 

 

Fix the Obvious

Crack in the ceiling? Mold above the shower? It’s past time you fix these issues because when your list your home you want nothing holding back a buyer. They will either be turned off and wonder what else you’re hiding or ask you to fix it anyways. Take the time to make your home look stunning.

 

List Your Home

Find the right website that works for you and put your home up for sale. Websites can typically charge a flat rate, plus the cost of services, such as listing photos and creating a yard sign. Don’t just wait around though, keep working on your house with any spare time you have.

 

Get an Offer, Get an Attorney

Typically real estate agents handle the contracts and paperwork when selling a home. You’re going to want to find an attorney who knows how to draft these papers and mind any other legal business that should be taken care of. 

 

Close a Sale

Be available for any open houses potential buyers might request and be open to any request they ask for.  Once a buyer is ready to close the sale need to hire an escrow or title company to take care of the closing process.

 

Seems like a lot of hiring? It is, but still after all of this is complete you stand to make a bigger profit than hiring an agent. You’ll be running the show and have total control over any decisions and have upfront contact with the buyers. Who knows, you might even find a passion for selling homes? 

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When Is The Best Time During The Year To Sell Your Home

It happened. You’ve made the choice that it’s time to sell your home. The real estate markets are booming and you’re ready to make a sweet profit off your home and move on to your next adventure. However, you might not be feeling up for the long slog of selling your home.

 

You’re wanting the process to be as quick and painless as possible. For that to happen you have to list your home at the right time. There are clear times of the year where selling your home is optimal but let’s go through the benefits of every season so that you can choose what works for you.

 

Spring

Homes sell faster when the weather gets warmer. The birds and bees are back in full swing and your house is looking at its best. The grass is greener and plants are starting to bloom displaying their full beauty.  There are no obvious reasons why homes sell faster but tax returns and more energy are a positive factor.  

This time of year also gives you plenty of room to prepare in the winter for selling. After moving in you and your family can enjoy a nice summer that you can work together unpacking everything. If you’re looking for a quick sale, spring is prime real estate season.

 

Summer

The same benefits from spring also fall here, no pun intended. You’ll have less time to unbox those boxes but it’s the perfect time to get to work. The issues with the summer are that people usually take vacations this time of year so they won’t be spending as much. Also vacationing may be a bit harder for you since you just moved into a new place. 

Location matters! If you’re in the northern United States then summer real estate sales go up but if you’re in the south sales go down. The reason? It becomes simply too hot for people to want to make any kind of move.

 

Fall

Autumn can be a difficult selling season if your prices are high. Typically buyers during this season are looking for more affordable price ranges. However, buyers can have more of a sense of urgency before the weather gets bad and school starts.

 

Winter

Something else that freezes is real estate sales. If you’re living in a state where the temperature doesn’t get dramatically cold then you should be fine. This time of the year is typically used to get a move ready. You can always take your chances and put your house up during winter but don’t count on a quick process. 

 

Other Tips

Keep your eyes on the employment rates, the higher the better the chances you’ll sell. Put your house up on the weekend, try Friday or Saturday. Take a look at mortgage rates and if they’ve been raised recently or not. It can be hectic selling a home but remember to keep your cool no matter the temperature, it’s a time to celebrate not to let stress take you over. 

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What Real Estate Appraisers Look For

Getting an appraisal on your home before you sell is good for your sake and the buyer’s sake. An accurate appraisal will make sure that you don’t over or undervalue your home and will make the buyer feel more comfortable with the asking price.

However, you might not be exactly sure what appraisers look for when evaluating your home. Before you schedule an appointment with an appraiser, make sure you understand what factors will affect the estimated value of your home.

 

Exterior

The first area that an appraiser will likely inspect is your home’s exterior. This includes your property’s foundation, roof, and walls. Your appraiser will be looking closely for any damages or defects that might affect the structural integrity of your home. 

As any damages in these areas can sink the value of your home and even make it dangerous to inhabit, you should be sure to have any defects to your home’s exterior repaired in advance.

 

Interior

Additionally, appraisers will carefully examine the interior of your home for any damage to windows, floors, walls, plumbing, electrical work, and more. The condition of these areas can significantly impact the value and safety of your home.

Moreover, appraisers will also want to inspect the size of your home’s interior and determine if that space is used effectively. This could include how many bedrooms and bathrooms your home has and how large certain rooms are compared to others.

 

Necessary Renovations

Aside from critical errors that affect the livability of your home, appraisers will also look for minor repairs and renovations that may be required to improve your home’s quality. 

Maybe your bathroom has cracked floor tiles or your kitchen needs a new stove. These types of minor repairs can have a significant impact on your home’s value as appraisers consider the cost of the repairs and the effort required by the buyer to make these repairs. If you want to maximize the estimated value of your home, you should make as many of these renovations as possible.

 

Property Size

Another important factor for the appraiser is the size of your home and property. As people tend to prefer to have larger plots for their homes, this will drastically impact the appraised value of your house. Fortunately, this aspect of your home is pretty much out of your control, so, while you should be aware that appraisers will take this into account, it’s not worth worrying about in advance.

 

Other Factors

In addition to these main qualities of your home, appraisers may take into account other qualities and amenities before determining a value for your home. For example, air conditioning and a swimming pool in a warm area would absolutely increase the value of your home. Things like fireplaces and skylights might also increase your home’s value.

Hiring an appraiser to determine your home’s estimated value is a fantastic way to determine an accurate sale price and give potential buyers a sense of security. However, before getting an appraisal, you should consider these few key things that appraisers will look for when evaluating your home.

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source https://nationalcashoffer.com/what-real-estate-appraisers-look-for/

How to List Your House on Zillow

Zillow is the most well-known real estate and rental marketplaces online today. It receives over 195 million monthly users, many of which are actively searching for a new home. This is no surprise since more home buyers than ever are looking for their next house online. In fact, according to the National Association of Realtors, 51% of buyers found the home they ended up purchasing over the internet. 

With stats like that, it’s obvious that you need to list your home online if you want a successful sale today. Luckily, this is an easy and straightforward process that anyone can do. When in doubt, work with a qualified real estate agent for the best practices when listing your property online. Here are the steps for listing your home on Zillow today. 

 

Step 1. Create a Zillow Account

First, you need to create an account on Zillow. This is the only way you can claim your home on the platform. You need to claim your home to gain access to all of the dashboard features and settings. Start by either logging in or signing up to Zillow. 

 

 

Next, it’s time to claim your home. Once you’re logged in to your account, go to My Zillow in the navigation bar and click Claim my home. You can also claim your home through the Sell page by clicking For Sale by Owner. This is Zillow’s method for making sure you’re the actual property owner. It’s important to claim your home to access all the stats and tools available on the platform.

 

 

Step 2: Check Your Home Information

Now that you’ve claimed your address, it’s time to review the information to make sure it’s accurate. Once you’re in your owner dashboard, you’ll have access to editing tools. You can change the basic information such as how many bedrooms and baths your property has. 

Under the more tab, you can begin adding additional information about your home. This is where you add photos, location, or release the ownership after a sale. Make sure everything is accurate and up-to-date.

 

Step 3: Review Your Home Value

Zillow has a unique home value feature that sets it apart from other listing platforms. With Zillow, you can receive an automatic estimate called a Zestimate. This is your estimated home value based on the facts Zillow currently has about your area and your property. 

However, don’t accept this home estimate at face value. A real estate agent will be able to better direct you to either a home appraiser or other third-party assessment. Another option for an inexpensive, online estimate is a tool known as HouseCanary which has an error rate under 4%. 

 

Step 4: Examine Market Conditions

One of the best features on Zillow is it’s market conditions analytics. Once you’ve confirmed your home, Zillow will share information about the best time to list your property based on other homes in your local area. For instance, you might discover that you increase your sales price by over $1000 or upwards if you list in February compared to November. 

These market conditions might impact whether or not you choose to list your property right away. After claiming your home on Zillow, you do not have to list right away. Make sure you review current housing trends in your area before listing your home. 

 

 

Step 5: Add Great Photos

Don’t list your home until you’ve added some photos. It’s all of these small details that make a difference when trying to find a home buyer online. The right photos will be well-lit, easy to see, and will show off the best of the property. 

Another option is to upload a video walkthrough. These are popular on Zillow, so they’re something to consider if you want to add another element to your online listing. Once again, pay attention to lighting, stabilization, and clarity when filming. 

 

Step 6: List Your Home

It’s time to list your home! If you’ve decided now is the right time, go ahead and click List Home  under your homeowner dashboard. It’s that simple! Don’t forget to add your contact information so users can reach out to you if they’re interested in your property. 

Now that everything is complete, all you have to do is wait. It can take up to 72 hours for your listing to be verified before it goes live. Make sure you check your listing frequently to see how it’s performing in your area. You might need to make some changes like add additional photos or change your description. 

Listing a home on Zillow is easier than ever, and it’s a great way to get some attention for your property. If you’re looking to sell or rent your home, Zillow is one of the best and easiest choices. 

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How to Add Your House on Trulia

Selling your home can be made much easier by utilizing online tools like Trulia. If you’re selling your home through a real estate agent, he or she will handle listing your home for sale on websites like these. However, as online resources make selling a home much easier, many homeowners are choosing to sell their home on their own. If you want to list your home for sale on Trulia, the process is, fortunately, fairly simple. Just follow a few simple steps.

 

 

Why Use Trulia?

Websites like Trulia, Zillow, and even Craigslist have drastically changed how real estate transactions are carried out, particularly for out-of-state buyers.

Online real estate listing websites make it easy for sellers to find buyers passively while allowing buyers to view photos, videos, and 3D walkthroughs of homes. These tools make the selling process go much faster than normal by allowing buyers to make a list of potential homes from the comfort of their own home. 

 

Are You Selling or Listing Your Home for Rent?

Trulia is Owned by Zillow

Just to clear things up before you begin, Zillow finalized the acquisition of Trulia in 2015. So, in order to list your home for sale on Trulia, you will have to go through Zillow.

This doesn’t change anything about the listing process. However, to avoid confusion, you should be aware that Trulia will redirect you to its partner site when trying to list a home for sale.

 

Post Your Home for Sale by Owner

Once you’ve decided to sell your home through Trulia, you should begin the process by going to Zillow and posting your home for sale by owner rather than by agent. All you have to do to begin is fill out and confirm the address of the property you’re attempting to sell. 

Then follow these steps:

 

1. Set Your Price

First, you need to choose your price. This should have been determined before you decided to list and should reflect the current value of your home. Since this listing will be posted online, you have to consider that, instead of negotiating, many buyers will pass up your listing if the price is too high rather.

2. Add a 3D Tour

One of the incredible features of Trulia and Zillow is that they allow listings to include 3D home tours. This allows potential buyers to take a virtual walkthrough of your home and give them a better sense of what it would really be like to live there. While this is not required, you should consider adding a 3D tour to your listing.

3. Upload Video

Next, you’ll have the option to upload a video of your home. Many buyers will appreciate this addition as a video can be more immersive than photos.

4. Add Photos

Then, you’ll need to add photos. Ideally, you should hire a professional real estate photographer to take photos of your home so that buyers can have a proper look into your home.

5. Share Details

Then, the Zillow listing form will ask you to include any relevant details. These details include, but are not limited to:

• Home Type
• Beds & Baths
• Lot Size
• Square Feet
• HOA Dues

You should be sure to fill out all fields in this section.

6. Additional Information

Lastly, you should include any additional relevant information. You’ll have the option to schedule an open house to encourage potential buyers to come visit in-person. You can also add your contact information and add a list of amenities that your home has.

 

Listing your home on Trulia is incredibly easy and is a great way to expand the reach of your home listing. Taking advantage of online real estate websites is a great way to sell your home while minimizing your stress.

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source https://nationalcashoffer.com/how-to-add-your-house-on-trulia/

When You Sell a House, Who Pays for What?

Selling a home can be quite a complicated process. One aspect that many homeowners are unprepared for when they sell their home is the various expenses that they might be responsible for. From closing costs to agent commissions, it’s important that you understand all of the costs that you will likely be responsible for when you sell a house.

 

Closing Costs

Closing costs, or settlement costs, are fees which pay for services such as title insurance and escrow holders. The amount that you owe here depends entirely on the terms of your contract. However, typically, buyers and sellers tend to share these costs. As an example, in most cases, buyers and sellers will choose to pay for their own title insurance while evenly splitting the fees for the escrow holder. Additionally, as the seller, you will be responsible for transfer taxes depending on your state.

 

Agent Commissions

One thing that you probably wouldn’t expect is that sellers generally pay a commission to both the buyer’s agent and the listing agent. When you sell your home, both agents will split a percentage of the final sale price which you will typically be responsible for.

 

Repairs

Whether or not you are responsible for repairs depends on whether or not you are able to sell your home without making necessary repairs. In many cases, you might find that making certain repairs before putting your home on the market will drastically increase its market value and help you turn a larger profit. In this case, you should absolutely cover the costs of your own repairs.

 

However, in some cases, the repairs might be insignificant and not have a significant impact on your home’s sale price. In this case, if you are able to find a buyer willing to buy your home with its flaws, you can leave it up to them to make the repairs. Lastly, if there are serious issues which present threats to a home’s structural integrity, you should consider paying for these repairs yourself, even though many states do not require the seller to cover these costs.

 

Mortgage

One common cost of selling a home is the mortgage left on your home. As many homeowners decide to sell their home before the mortgage is completely paid off, much of the sale price will go to paying off whatever is left. Additionally, you will be required to pay off second mortgages, home equity lines, and any other liens when you sell a house. Selling a home can be a difficult, complicated process. Hopefully, this post helped clear up what costs you will likely be responsible for when you sell your home.

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source https://nationalcashoffer.com/when-you-sell-a-house-who-pays-for-what/

Why Close Communities in Neighborhoods Are Better To Live In

Choosing a new home is incredibly difficult as there are a variety of factors to consider. Schools, restaurants, entertainment, and other factors make choosing the right neighborhood a tedious process.

Perhaps one of the most important aspects of choosing a new home is the strength of the community. Living in a strong, trustworthy, and personable community provides many significant benefits for families and individuals. While this might be a time-consuming process, finding the right community to live in is incredibly important for the following reasons.

 

Trust Your Neighbors

Whether you’re simply at work or on vacation, your home is left vulnerable when you aren’t there. From break-ins to package theft, anything can happen while you’re away, so it is important that you have someone looking out for you.

One of the primary benefits of living in a close community is that you can trust your neighbors to watch out for you while you’re away and report any crimes or suspicious activity. 

 

Increase Property Value

Owning a home is one of the largest, if not the largest, investments you will ever make. As a result, it is important that you preserve and increase your property’s value in case you ever decide to sell your home.

Living in a strong community is likely to make your neighborhood seem more attractive to families searching for a new home, leading to increased property value.

 

Feel Safe

Everyone wants to feel safe, especially if you have a family. Living in a neighborhood in which you don’t have a close, personal relationship with your fellow community members can make it difficult to feel safe in your own home. Living in a strong community can make sure you and your family feel comfortable and safe in your neighborhood.

 

Convenience

One of the many benefits provided by close communities is convenience, meaning that you can depend on your neighbors to help you with the occasional favor. From collecting your packages while out of town to borrowing sugar, having reliable neighbors can make your life much easier on a day-to-day basis.

While you might not necessarily have considered the importance of a close community when choosing where to live, there are numerous reasons why you should consider making searching for a strong community one of the primary factors in your final decision. From increasing property value, offering convenience, and increasing your sense of safety, a close community makes any neighborhood significantly better to live in.

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source https://nationalcashoffer.com/why-close-communities-in-neighborhoods-are-better-to-live-in/

The Average Closing Costs for Buying a Home

First-time buyers who are excited to finally close on their home need to make sure they’re familiar with all the costs upfront. It might come as a surprise that the mortgage and downpayment are only one side of the story. Closing costs are additional fees that are associated with the purchase of the home. These will need to be paid at the time of closing the transaction. 

 

When exactly is the closing of the home? This is the time when the title of the property is actually transferred from the original seller to the new buyer. Closing costs can be paid by either the seller or the buyer, depending on the situation. This guide will further explain how to navigate the closing process as well as the average costs. 

 

What are the typical closing costs?

First, let’s discuss what the closing costs actually are. There are several fees that make up the total closing costs, and you might not need to pay all of them. For instance, many states don’t require you to purchase a home with the help of an attorney, so attorney fees wouldn’t be necessary in that case. Check with your real estate agent for a better estimate of what you can expect to pay in your areas.

• Appraisal – You’ll need to pay an appraisal company to check the market value of your home before sale. This might also include specialized home exams for things like A/C or pest control. 
• Attorney Fee – If you need an attorney to review your documents, you’ll need to pay their fees.
• Loan Fees – The fees associated with applying for your mortgage such as your application, underwriting, and credit report fees. 
• Property Tax – Taxes on the cost of the property which will be due usually within 60 days of purchase to the lender. 
• Private Mortgage Insurance (PMI) – If your downpayment is under 20%, you’ll likely need to purchase PMI. Usually, the first month of PMI needs to be paid at closing. 
• Title Fees – If you need extensive property records, you’ll need to pay a fee to the title company for this research. 
• Transfer Taxes – The tax you’ll need to pay on your home when passing the title from the seller to the buyer. 

 

How much are closing costs when buying a home?

Now that you understand the most common costs that make up the closing costs, it’s time to talk averages. While there is no one-size-fits-all to closing costs, most home buyers pay between 2 to 5 percent of the purchase price on their home. That means if you’re buying a home that costs $150,000, you can expect to pay around $5000 in closing costs. 

 

These costs also vary depending on the state. Arizona, for example, has some of the highest closing costs in the country with an average of just under $2,000 in closing costs for a $200,000 home purchase with a 20% down payment. 

 

You can expect to pay more in closing costs if you make a lower down payment in most cases. However, many closing costs are negotiable. Your lender will include closing costs in their initial estimate, and you can also shop around for a different estimate. There are also programs based locally and nationally that help cover or lower closing costs, especially for first-time buyers. 

 

Talk to your lender and your real estate agent about your closing costs before you approach your closing date. You might be eligible for discounts or programs that you didn’t know about. Either way, it’s important to know what to expect before you officially close on your home. 

The post The Average Closing Costs for Buying a Home appeared first on National Cash Offer.

source https://nationalcashoffer.com/the-average-closing-costs-for-buying-a-home/

How Real Estate Agents Are Affected By The New Tax Laws

In January 1st, 2018 the United States passed the most significant piece of tax reform legislation in the last three decades. This massive legislative change to taxes effects numerous things, including real estate. As a real estate agent you might be wondering, how does this affect me?

Based on the numbers it looks like the tax reform is going to support the real estate market. However, as an agent, there are some changes you should be aware of into the future. 

 

Depreciation

Qualifying property acquired after Sept. 27, 2017, is eligible for 100% bonus depreciation in the year it is placed in service. Qualifying asses include those with a depreciable lifespan of 20 years or less; this includes personal property

It’s also important to know that bonus depreciation will start to slow down beginning in 2023. The rate will fall by 20 percent per year beginning in 2023 until 2027 when it is ultimately eliminated.

 

Pass-Through Entities

It was big news that the tax bill changed corporation tax from 40% to 21%. If you are apart of pass-through entities such as an LLC, S corporation, or partnership, then you’ll be taxed differently.

A 20% deduction of qualified business is now permitted. The deduction is limited to 20% of qualified business income and the greater of 50% of W-2 wages, or wages plus 2.5 percent of the unadjusted basis of qualified depreciable property. This law benefits real estate businesses. 

 

Limitations on business

How the loss and gains from your real estate business are taxed have also changed. Any company with higher than $25 million in average yearly gross income over the previous three years will be restricted in its investment cost deduction to interest income plus 30 percent of adjusted taxable income. Rental property owners can sometimes opt out of this rule and claim full interest on deduction.

This new tax law has been in effect for almost a year now, and real estate agents are feeling the benefits thanks to these new laws. Predicting the lasting impact of these changes can be hard to track, but overall this has been a win for real estate professionals.

The post How Real Estate Agents Are Affected By The New Tax Laws appeared first on National Cash Offer.

source https://nationalcashoffer.com/how-real-estate-agents-are-affected-by-the-new-tax-laws/

Is It Better to Own a Home In California or Nevada?

These neighboring states both have their unique landmarks that are worth the draw to reside. In Nevada, you’ll treat yourself to Las Vegas, The Hoover Dam, and the Valley of Fire Park. In California, you have luxuries such as Hollywood, Disneyland, and the Golden Gate Bridge. Deciding which state to own a home in can be difficult, so lets lay out the pros and cons of the real estate for each.

 

Nevada

Let’s take a look at the Sagebrush State and all that it has to offer. Looking to get hired? Well, Nevada lauds a 4.7% unemployment rate in the state which makes looking for a job, not a huge issue. 

More and more people are looking to own a home in Las Vegas. According to statistics, the reason home ownership is increasing is because of the cheap price of real estate. When you examine the two markets, you can clearly know why Las Vegas and Nevada are becoming a clear opportunity for anyone who is exhausted of paying high taxes.

When comparing taxes in California to taxes living in Nevada it’ll seem like you’re saying farewell to taxes. Nevada doesn’t have an income tax and does not even touch any part of your retirement. There’s also a low cost of living, utilities, and a low cost of corporate taxes. If you’re looking to start a business Nevada is an excellent location.

California

Now let’s take a glance at the Golden State, which has the biggest economy in the United States and 5th biggest in the world. The unemployment rate isn’t that drastic of a difference sitting at 4.2% by the end of 2018.

Real estate sales in Southern California are at the highest of all time and they look to not be slowing down. Following with the high cost of owning a home, California has one of the largest tax rates in the nation for individual and companies. That’s even before taking into thought the high cost of services, estate taxes, food, living and so on.

If you choose to own a home in California be prepared to be taxed into eternity. If you can afford it then you’ll be living in prime real estate areas. The property tax there is 1.25% of the purchase price. Your personal tax ranges from 1.25%-10.55% depending on your income. Your retirement will also be taxed with the exception of Social Security and Railroad Retirement.

 

Final Thoughts

In the end, it really depends where you are at financially. If you can afford being taxed on everything and want to live in high-value areas then California is your ideal location. If you’re looking for a low cost of living and a great place to start a new business then Nevada has everything you’ll need. If you’re looking for a job both areas seem to match each other. No matter the decision both states will have beautiful sites to visit. 

The post Is It Better to Own a Home In California or Nevada? appeared first on National Cash Offer.

source https://nationalcashoffer.com/is-it-better-to-own-a-home-in-california-or-nevada/

How To Save Money While Paying A Mortgage

If you have a 15 or 30-year mortgage you’re probably looking for extra ways to save money. It doesn’t take much to end up with amazing monetary results. Some simple daily changes to your lifestyle can yield a vacation, gift, or more savings for you and set you up to win in the future.

 

 

Needs Vs Wants

Become aware of what you actually need versus what you actually just really want to have. Your wants are fleeting while your needs stick around. Becoming aware of the consequences will help you notice what is a want and what is a need. If there are major consequences to not having something then its a need, if there isn’t, then it is a want. If you’re spending money every time you want something then your bank account is going to suffer for it.

 

Don’t jump at the newest things always. Look at the year-old model, which will be half off, and then make your decision based on the question “Is the TV I own really not doing the job?”. It doesn’t have to always be a big thing like the latest TV or computer. Start to notice what your wants are and when you give in to them.

 

Change Your Diet

Reports show that families on average spend $150 a week eating out. Starting to eat in more and you’ll immediately start saving more money. This doesn’t mean picking up fast food and eating it at home. Start cooking your food and take it into work for lunch. Going out at lunch and spending money on a 10 dollar meal actually adds up quickly. Even once a week is $40 dollars a month. A side effect of this will also be a healthier you, which means a happier you. 

 

 

Save A Dollar

It’s an old method but one that works. If you start saving a dollar a day or 7 dollars a week, by the end of the year you’ll have $365. This can be the start of a vacation for yourself, a home improvement, or getting that TV that we talked about. You should be making more than a dollar a day so this should be accessible to anyone. It should be simple to set up through whatever bank you’re using so don’t waste a day and start as soon as possible.  

 

Leftover Budget Money

Check to see if you saved money this month on your budget. If you had 175$ for food and only spent $145 then put those $30 dollars towards savings. I know it’s hard to look at extra money and rationalize not spending it, but it’s what your savings needs. This can actually be the way you save most of your money once you slow down spending on your wants. 

 

Learning how to save money while paying a mortgage isn’t going to be easy. It’s a muscle you get to work out every day. You might not always succeed but if you keep at it, before you know it you’ll be thanking your past self for having self-control and systems in place to have you win. 

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source https://nationalcashoffer.com/how-to-save-money-while-paying-a-mortgage/

How To Stage Your Home For The Holidays

As a home seller in the middle of the holiday season, you may be wondering whether or not you should forego putting up decorations while your home is on the market. After all, staging your home is one of the most important steps when trying to selling your home, so it is critical that you do it right. If you find yourself in this situation, here are a few tips for staging your home for sale during the holidays.

 

Keep it Simple

While you don’t have to skip out on decorating for the holidays, you should remember to keep it simple. While it may be tempting to go all out with your decorations, you should remember that the point of staging your home is to prevent it from feeling empty while still allowing enough space for potential buyers to visualize their own decor. Buyers want to be able to see themselves living in your home, and that can be hard to do when you’ve cluttered your house with holiday decorations.

 

Put Away Personal Items

As stated above, your home should no longer be decorated as if it were yours. Potential buyers need to have the ability to visualize themselves living in your home. As a result, you should make sure to remove any personal items and pictures from your home. During the holidays, it can be tempting to set out old holiday pictures to help bring in the holiday spirit. However, when you do this, you can make potential buyers feel as though they are a guest in someone else’s home than stepping into their own home.

 

Don’t Block Pathways

This applies to the exterior and interior of your home. Avoid putting up large decorations which obstruct important views and pathways. This means it’s probably a good idea to leave the big inflatable snowman in the attic. While these decorations are fun, they can make it difficult for potential buyers to see what they would be purchasing. You need to make sure that all features of your home are accessible and in clear view.

The holidays are a very exciting time of the year. As a homeowner, you might be tempted to stick with your traditions of decorating your home for the holiday season. However, while you don’t have to completely pass up on the holiday decorations, it’s important to remember what your goal is. By keeping it simple with your decorations, you can still show your holiday spirit without sacrificing ins potential sales.

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source https://nationalcashoffer.com/how-to-stage-your-home-for-the-holidays/

What To Do When You Can’t Find A Home Before Your Home Sells

Selling your home feels like a balancing act. Trying to perfectly time your home sale while also searching for a new home is tricky. If you’re lucky, you’ll be able to move into your new home and have a perfectly staged empty home left to land the sale. However, if you’re in a hot market, your home might sell before you have a chance to find a new one. 

What are you to do if you’re put in this in-between situation of having sold your house without a new one to go to? While the first line of defense is to avoid this situation in the first place, sometimes it’s out of your hands. Unless you sell your home first, you’ll likely need to qualify for two mortgages, not to mention the second down payment. This isn’t always possible, so you need a game plan for what to do when you can’t find a home before yours sells. 

 

Contract Contingency

In a perfect world, your closing dates for buying and selling your home would line up perfectly. Of course, real life is rarely this lucky. A way to line up your dates is by asking to add a contingency to your contract. This is possible in both buying and selling situations. 

For example, if you’re buying, you can ask the seller to make your purchase contingent on the sale of your home. This is more likely to be effective if you’re having a difficult time finding a home buyer. You’ll need to be prepared with reasons for why you believe your home will sell quickly, and this is something your real estate agent can help with. 

On the other hand, if you’re selling, you can negotiate with the buyer. You can ask to add contingency to your contract that makes your closing date line up with that of your new home. This will depend on how flexible and interested the buyer is in your home. 

 

Rent-Back Arrangement

A rent-back arrangement is when the new buyer agrees to rent out the home for a short time after you sell it. These rental periods are generally short amounts of time between 30 and 90 days depending on when you find a new home. 

In order to come to this type of agreement, you’ll either negotiate a lower home price or pay rent to the new owner. Unfortunately, not all mortgage lenders allow this, so you’ll need to check with the new lender before coming to this arrangement. 

Of course, a rent-back arrangement is less complicated than having to find other housing while you wait for your new purchase. For buyers already using your home as an investment property for renters, this can be an easy agreement. 

 

Bridge Loans

If you’re buying a home and selling a home at the same time, you can get a short-term loan to help cover these costs. This type of loan is called a “bridge loan” since it bridges the gap between the sales price of the new home and your new mortgage. 

You can use bridge loan funds to make any down payment or closing costs on your new home, and you can repay this loan once you sell. This is a helpful tool for putting your home on the market without worrying about the finances of buying and selling. 

 

Temporary Housing

Finally, if all else fails and you still sell your home before your move-in date, you should consider alternative housing options. The best-case scenario is moving in with family and friends temporarily. If that’s not possible, consider a short-term rental in the meantime. 

Your real estate agent will be able to assist you in finding a compromise in this situation. Depending on your market, it might be affordable to rent for 3-6 months prior to moving into your new home. This frees up your attention so you can focus on finding the right home for you and your family. 

It’s not always possible to perfectly line up the dates when it comes to buying and selling your home. Avoid the stress of finding yourself without a place to stay during the home buying process with these tips above. Knowing your local real estate market as well as your options will help you best create a plan of action. If you are looking to sell your home, you can always call us at NationalCashOffer.com!

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