Author: Donna Parker

Things To Know About Real Estate Investments

The goal of any real estate investor is to earn as much as possible with minimal risk. This is only possible if you know how to make smart choices. To give you a foot in the door, consider the following three things that make a great real estate investment.

You can easily compare rental properties to stock markets. This is because most of us understand these and know that we need to spend money to make money. However, the problem with stocks is that they are so risky. It is comparable to retirement calculators, who make a guess in terms of when we die. If the estimate is wrong and you live longer, then you will end up broke before your death.

On a personal level, you need to learn to manage and negotiate and you need to have people skills. You also need to be able to do repairs, or have a team of people to do this for you. Finally, you need a property inspector. Generally speaking, investing in property means you will become a landlord. Hence, you will need to learn how to find good tenants and how to be a landlord too. Real estate investing is all about spending money to make more money. It will be nearly impossible to get involved in this world without having some money of your own. You are now ready to become an investor, which means you can start looking into locations. You can find out all sorts from the internet, local libraries and town board meetings. You must learn about what the location is like and how it is likely to develop.

Generally speaking, it is easier to get started with rental properties if you are younger, particularly if you don’t have a lot of money to put down. This is because banks usually want at least 20% as a down payment before agreeing on a mortgage. 20% can equate to a lot of money, particularly if you will also need to do repairs. However, if you are a bit younger, banks may be slightly more understanding. There are quite a few other things you need to look into. One of the things you will need to work out is which property to invest in at all. However, even this requires a whole lot of research and analyzing. You also need to work with a good realtor to represent your needs. Their goal is to make sure that you find good properties and make solid investments. Once you have your property, you need to learn what it means to be a good landlord, which will also take some time. However, overall, it is time well spent.

Fast Suggestions When Thinking Of Selling a House

Tips When Thinking Of Selling a House Defined

Plenty of folks are investing in real estate so if you want to sell your house, you must do this now. The only problem here is that selling a property is extremely challenging. You might have seen articles stating that selling a property is quite easy or there are ads that claim that they could help you sell your home in only a few weeks or months. Selling a house can be easy in case you are reading to bring down its price, but this is not an advisable thing to do. In the real estate industry, the supply fully outstrips the demand, but you could find ways to make your home appealing. We will provide some great tips to help you with this.

Check The Curb Appeal of Your Home

First impression lasts so your property should give the buyers a great impression once they see its exterior. You need to place yourself in the shoes of the customer and check if the curb appeal of the house can attract the customers. You must determine if the house can offer an excellent impression to prospective customers or it needs some maintenance.

The possible customer will see the outside of the house firsthand and you need to understand that they always pay attention on how the house looks outside. You need to get everything ready in the house and fix everything.

Improvements in The house

If you would like to attract the possible customers, you must make upgrades in your house. You should enhance the interior and exterior of the house so it could be visually appealing to the potential buyers. If you really want to sell your house, you must check anything that needs fixing and make the required improvements. Nonetheless, you should not over improve as there are enhancements that will not really make a difference.

Improvements can improve the price of your house and its odds to be sold, but you cannot make upgrades that will not pay in the long run. You should make your research and invest in things that will provide the best return.

Start Depersonalizing Your House

Most individuals will say that adding more design to the interior can make it more desirable to the buyers, but it’s a mistake because personal items, art works and collectibles will not really attract them. You may always eliminate these items and leave out the essential furniture so your home will look bigger. The goal is to enable your buyers to visualize themselves in the house.

They will start pointing at the different parts of your home while they visualize what they want to put there if they buy the house. It signifies that unnecessary and personal items have to be removed in the house since it is going to make it tough for them to imagine.

Place a Competitive Value for The House

If you wish to sell a home in Lancaster County, Pennsylvania, you will have to put a competitive value for your property. It you’ll actually place a lower value, it’s similar to leaving money on the table, but placing a high value is a not recommended either because the customers will ignore it.

When it comes to home buying, most customers will take a look at the homes that are similar to yours and compare the prices. If your house is very costly, they will not even think about it as one of their choices.

You must understand that most buyers are only counting on home financing so they will not be choosing a house that is too costly. It’s true that placing a low price can help sell your home very easily, but your investments won’t be returned to you.

Look For A Real Estate Agent

You’re undoubtedly making an error if you believe that one could sell your home on your own. If you are not a professional real estate agent, it will be very difficult as you don’t have the experience and knowledge to do it. If you’re going to do this by yourself, there is a chance that you will not be able to sell your property or you will not get an excellent deal. You can get lucky and get an excellent deal for your house, but you can’t depend on luck alone when selling a house because this is a lot of money. You must hire an agent and allow them to do everything for you. You’ll undoubtedly need to pay them, but this is better than getting a bad deal since you do not know anything.

Before you sell your home, you should take a look at all of these simple tips so you won’t make any mistakes. Selling a house is not easy so you need to know everything and anything about the real estate market.

Separating Fact From Fiction…The Largest Myths About Selling Houses, So You Know What You’re Really Dealing With


You should always price your home high and gradually lower it if it doesn’t sell. 

The truth is that pricing too high is just as bad as pricing too low. You may think by listing high you can always accept a lower offer, but if you do, you’ll miss the buyers looking in the price range where your home should be. See: 5 Myths About Selling Your House in a Seller’s Market. Offers may not even come in, because interested buyers are scared off by the price and won’t bother to look. By the time the listing price is corrected, you will have lost a large group of potential buyers. Your real estate agent will offer you a comparable market analysis.

Minor repairs can wait until later. There are more important things to be done.

The truth is that minor repairs make your house more marketable, allowing you to maximize your return (or minimize loss) on the sale. By and large, buyers are looking for an inviting home in move-in condition. Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer. You save nothing by putting off these items, and you may likely slow the sale of your home. 

Once potential buyers see the inside of your home, curb appeal won’t matter.

Actually, Buyers probably won’t make it to the inside of the home if the outside of your home does not appeal to them. Many buyers drive by a home before deciding whether or not to look inside. Your home’s exterior will have less than a minute to make a good first impression. Read: 5 Myths and 5 Truths About Selling Your Home.

Once potential buyers fall in love with the exterior look of your home, you put interior improvements on the back burner.

Buyers have no qualms about walking right out the front door within 60 seconds if the house doesn’t look like it could be theirs. Remember that most buyers are looking for an inviting home in move-in condition. Spending a few thousand dollars for the right work on your home before you sell it, usually translates into a higher selling price and shorter marketing time.

Your home must be every homebuyer’s dream home.

If you get carried away with repairs and replacements to your home, you may end up over-improving the house. At some point, improvements that you make to your home can exceed what is customary for comparable homes in your area. For instance, there may not be another swimming pool in your entire subdivision. As a general guideline, if your improvements push your home’s value higher than 20% above average neighboring home values, don’t expect to recoup the entire amount of improvements. Gorgeous_Home_of_Painter_Iceland_interiors_afflante_com_0

Buyers are never swayed by sellers that offer creative financing options.

By offering flexibility in financing options, you may lure more prospective buyers. You might consider offering seller financing, paying some of the buyer’s closing costs, including a one-year home warranty, or other buyer incentives. Your real estate agent, who has professional knowledge of local market activity, can help you decide what incentives, if any, to offer.

Trying To Choose a Realtor? When Interviewing Them, Here Are The Top Questions You Should Ask To Determine Which Agent Is Right For You

There are things you can do to pull back the curtain and accurately assess a real estate agent’s past performance and potential success with your home, even though when it comes to choosing real estate agents. See if the agent will provide a list of what they’ve listed and sold in the past year, then ask them the following questions. See: 5 Questions to Ask Before Choosing a Real Estate Agent.

If the agent will give you the sellers’ contact information, call them and ask them these questions too, along with asking them if any issues arose, what they were, and how the agent handled them.

* what were the asking prices?
* what were they sold for?
* how long were the homes were on the market?

Are They Licensed? Check with the state, and make sure the realtor is licensed and if there have been any complaints filed against them. Sometimes, you can find this information online. Read: Choosing a Realtor 411. It is always a good idea to check for reviews, when available. If they are a good realtor, and active in the business, it should be easy to find reviews on them.

Do They Have Any Peer-given Awards? These really do count, because what it means is that their peers have endorsed them. This means multiple people have voted them a great realtor.

Check Their Credentials: Just as doctors specialize, so do real estate agents. Here’s what some of the designations mean:

• CRS (Certified Residential Specialist): Completed additional training in handling residential real estate.
• ABR (Accredited Buyer’s Representative): Completed additional education in representing buyers in a transaction.
• SRES (Seniors Real Estate Specialist): Aimed around helping buyers and sellers in the 50-plus age range.

How Long Have They Been Active? If they’ve only been in business for a few short years, they’re still learning. If you don’t need your house sold too quickly, you may be happy to help them learn. However, if you’re serious about selling your home fast and for top dollar, you might want to go with someone more experienced.

Take a Look At Their Current & Past Listings: Check out an agent’s listings online. Most buyers start their search on the Internet, and you want an agent who uses that tool effectively. If you see that their listings have few or poor photos, little to no descriptions, and inaccurate information, find a different realtor. They should also have enough listings to indicate a healthy business.

Ask Them About The Area: A good agent should know about other area properties that are available. If the agent knows the property and can give you a few details, that means he or she really knows your area. You should chose a realtor who is knowledgeable in the market and on top of their game.

For further information, see this article on the many Red Flags to Watch for When Picking a Realtor.

A Word Of Advice To Sellers…Things You Should Be Aware Of When You Have Your Home Listed On The Open Market

Try to resist overpricing your home; of course you want to get the most you can for your home. Most sellers aren’t just trying to “break even” on what they paid for it. You’ve got to learn to look at your home objectively, though, and price it due to the value. If the home is overpriced from the get go, it will likely sit on the market for quite a while. See: Top 10 Real Estate Tips. The truth is that buyers will notice the home has been sitting on the market for a while without selling, assume there is something wrong with it and cross it off their list. e2b30e383db091135bbd0d96fc3ea67a

Make sure you and your agent are on the same page regarding list price and marketing strategies. You and your agent should be in agreement on the price the home will be listed at, so if the range she/he suggests doesn’t match the one in your head, don’t be hesitate about asking for an explanation. As important, of course, is how she/he will promote your home. Read: 5 Tips for First-Time Home Sellers.

On top of the scheduled open houses, there will be (If the house was price right) frequent calls from agents who want to show your home to prospective buyers, frequently on short notice. And every single time, your place has to be looking its best. For you this means that, until you sell your home, you are responsible for keeping it spotless 24/7. No leaving mail out or your dry cleaning out. Picture-3108

Even if you think your house is perfect and it has been good enough for you all these years, buyers may think otherwise. Perhaps they didn’t like the paint color in the master bedroom or the tile in the kitchen. Maybe they are not crazy about having only two full bathrooms. Read: Showing Tips for Sellers.

Of course, you want to unload your house as quickly as possible, but the solemn truth is that most of the time, its difficult to sell a home quickly. It may take a while before any offers come in at all. And then, there’s the closing. If the buyer is getting a mortgage, it will take at least another month.

If you have a pet, you will have to take extra steps to ensure it doesn’t go in and out during showings. That means telling every agent who will show the house that you have a pet that they have to watch while they’re trying to do their job. Unknown-1

Before thinking on putting your house on the market, take a moment to walk the home and try to see it through a possible buyer’s eyes. Likely, you will need to paint over any bold wall colors, clean of the entire house, de-clutter and de-personalize, and make any necessary improvements that could upgrade curb appeal and ultimately affect the asking price.


Be Cautious That You Don’t Talk Yourself Straight Out Of The Sale: A Lesson On Never Miss a Good Chance To “Shut Up” When Selling Your House

Selling Your Home: Know When to Shut Up

Keep a less is more attitude is crucial when it comes to talking with prospective buyers. Below are some things that agents have experienced with their sellers saying that are big no-nos, or, things that sellers should never let slip to buyers, or the agents representing them. See: 10 Best-Kept Secrets for Buying a Home.

The house is in pristine condition. The home inspection may reveal otherwise, and, as a seller, you don’t want to wind up putting your foot in your mouth. Perfect condition doesn’t exist. Every house, whether it is brand new or a resale, has something that needs to be fixed, adjusted, replaced, or improved upon.

How long it’s been on the market. 

Never, ever discuss how long the home has been on the market with prospective buyers. This info is often listed and available on the home’s information sheet, but bringing it up (especially if the home has been available forever) can send buyers the wrong message.

We’ve never had a problem with…

If you’re hoping to move quickly, you may be tempted to tell a few little white lies. Realtors agree that even the slightest white lies could come back to you with teeth. You’re setting yourself up for potential liability. You may not even be aware of the problem at first, but it could translate into an embarrassing moment upon inspection. So come clean with what you know and admit what you don’t.

We always wanted to fix that, but…

Nobody cares about good intentions. When sellers point out things they might change, this only alerts the buyer of more upcoming costs for them. Read: Top Tips for First-Time Homebuyers, and, the Advice Buyers Guide.

We spent a ton of money on…

Just because you love certain things you put into the home and spent a lot of money on, that doesn’t mean prospective buyers will be willing to shell out for it. The buyer doesn’t care how much money you shelled out on your kitchen. They are only going to offer what they feel the home is worth in relation to area comparable sales. Don’t sound trying too hard to justify your price.

I’m not taking less than “this” amount for my home

When it comes time to sell, it makes sense that you want top dollar. We get it! But at the same time, it’s important to be realistic and open to offers within a reasonable range. If you send a message that you are inflexible or not open to negotiating, it may not invite buyers to even try to work out acceptable price and terms as they will feel defeated from the start.