August 2021 Real Estate Roundup
Real estate in some markets and in some pockets are seeing an increase in listing activity along with a decrease in buyer activity. Average sales prices have trended down modestly but there are still locations where buyer activity is high and bidding wars are common. Sellers are also starting to add more to overall inventory since there are concerns that what comes next may be a buyer’s market which will require sellers to work harder to sell their home. Whether buying or selling the articles in this month’s roundup provide great tips and insights to help buyers, sellers and investors alike.
Post Pandemic Housing Trends
The COVID-19 Pandemic has changed the way people think about real estate as Chris Highland explores. In the past location was key as people tried to stay closer to their places of employment. With many employers utilizing a work from home stance in order to help prevent spread of the virus, employees decided to move further out and further away from work centers. Home remodeling trends and new construction trends are focusing on better planned layouts and home offices for more than one resident. Check out the article for more information on how the pandemic is changing real estate.
Tips For Renting A Room In Your Home
Renting a room in a home can help offset costs of a monthly mortgage and you have someone who can help out with other things around the house. With the pros though there are cons as well to renting out a room in your home as Bill Gassett explores. Homeowners need to consider their homeowners insurance, HOA rules, and local laws in order to protect themselves and their tenant. There are potential tax consequences to consider as well and getting a CPA involved with taxes can be a smart move.
Common Home Inspection Repairs
A home inspection is an important step every home buyer should take when buying a home. The home inspection can help reveal the inner workings and condition of a home. Luke Skar explores some of the common repairs that will be requested after a home inspection has been completed. The most common repair requests relate to safety and function of systems like the HVAC, plumbing, electrical wiring and more. Both home buyers and sellers should understand what needs to be fixed after home inspection in order to help keep the home sale on track.
Should You Spy On Home Buyers?
With the explosion of affordable digital wifi cameras the homeowner has never had it easier to record the on goings of every room in their house. When listing a house for sale having cameras setup to make sure things don’t walk off might be thought of as good advice. On the other hand recording home buyer conversations to get an inside track on the negotiations could be problematic as Kevin Vitali explores. Different state laws can apply so it is best to make sure the homeowner knows what is allowed in their location. Home buyers on the other hand need to keep in mind that their conversations can be recorded regardless if legal or not and they should save conversations about the house for someplace well away from the home.
Things To Remember When Moving
The house has been bought or sold and now comes the time to move. Moving in and of itself requires a great effort in order to make sure things get moved properly, to their right place and not get broken in the process. In this article by Danny Margagliano he provides an excellent checklist for helping to organize a move. Whether one wants to take the do it yourself route for the move or hire professional movers there is still quite a bit that the person moving needs to do in order to make sure it is done as stress free as possible.
The Dangers Of Making Multiple Offers At The Same Time
Generally, the best way for a buyer to make offers on a home is one at a time. If one offer does not work out the buyer can move on to another property. There are some home buyers who want to try the shotgun approach of putting multiple offers on different homes at the same in hopes of winning on one. This approach of putting multiple offers on multiple homes is risky as Petra Norris explores. Home buyers can find themselves as the winning bidder on more than one home and find themselves the subject of lawsuits if they decide to cancel as her article explores.
What Causes A Home Foundation To Go Bad?
The foundation of a home is what keeps everything in place and provides support to the rest of the house above it. There are certain conditions that can cause a foundation to fail which can have minor effects like slanted floors to major impacts like the home being unlivable. This article from Paul Sian explores some of the common ways a foundation can fail. An ounce of prevention is worth a pound of cure when it comes to foundations and this article provides some excellent tips on how to keep a house standing tall.
What Is An Easement?
When buying real estate in most parts of the US there are access rights given to others to that real estate. The technical term for those access rights is easement. Utility companies (power, water, internet, etc.) are given easements on property to run their lines. Other easements can be given for private driveways and more. Joe Boylan provides an excellent article on what is an easement and what type of impact does it have on your home. The article also explores the different types of easements and how to learn more about what easements may be on a particular parcel of land.
What article from the above did you find valuable? Any other real estate articles you found insightful? Feel free to share below!
The Real Estate Roundup for August 2021 was provided by Greater Cincinnati Area Luxury Realtor Paul Sian of United Real Estate Home Connections. Paul is a licensed real estate agent in the states of Ohio and Kentucky and has over 14 years of experience. Do you have a home you are ready to sell now in Greater Cincinnati or Northern Kentucky? Be sure to contact me now!