January 2020 Real Estate Roundup
As we get closer to the spring selling season home buyers and sellers are getting ready to start the process of buying or selling a home. With low mortgage interest rates there are still plenty of buyers looking to buy a home for the first time or looking to trade up homes. Home sellers are still seeing strong demand from buyers in many markets which means sellers still have control when it comes to selling their house. Of course that does not mean buyers are willing to write a blank check for a home so pricing must be in line with current market values. The roundup for this month has articles that further delve into the residential real estate industry in order to educate both buyers and sellers.
What Does A Real Estate Agent Do?
Buying or selling of real estate can be quite an involved process. There are many parties to the transaction in addition to the actual owner and buyer. In this article by Bill Gassett he examines what do real estate agents do for their buyers and sellers. The short answer is that real estate agents do quite a bit for their clients including helping their client network with lenders, negotiating offers, making sure timelines are adhered to, negotiating repair requests, and much more. Real estate agents help keep the wheels of a real estate transaction turning and can help prevent the breakdown of a deal as Bill points out.
Reasons Why An Offer On A Home Is Declined
Getting in an offer on a home is only part of the battle. In a hot seller’s market which is present in many markets around the US homes that are properly priced are seeing multiple offers. In addition to multiple offers there are other reasons as to why an offer for a home can be rejected as Kevin Vitali explores. When it is as competitive as it is for home buyers they need to do everything in order to get the best leg up on the competition. Which means always having a pre-approval letter before visiting any homes, making offers in conjunction with current market realities, not asking for too much and more.
Hiring A Property Manager To Manage Your Residential Investment Property
This article from Spark Rental looks into whether real estate investors should be hiring a property manager to manage their residential real estate investment properties. For some investors self-managing is part of the reason they got into investing in real estate so they can maximize their cash flow. For others the bigger goal is to acquire more properties and spend time on managing that process rather than managing tenants and properties which can become a time consuming process. This article looks at management fees, the pros and cons or property managers, how to hire a property manager and more.
Smart Tips For Selling A Luxury Home
Luxury homes like any luxury product need to be elevated in order to make sure the right (read qualified) buyer takes notice. While the price of a luxury home certainly may attract attention the home itself needs to be the centerpiece of any marketing campaign as this article from Paul Sian about luxury home marketing tips points out. All buyers know the value of the homes they are shopping for or are working with professionals who will guide them towards homes which are in their price range. The luxury home must get noticed first for its features and amenities in order to get good offers early on in the selling process.
Earnest Money and Down Payment Are Two Different Things
Some may confuse earnest money and down payment when thinking about the money they need to have available prior to buying a home. As Sharon Paxson explains earnest money and the down payment are two different things and paid at different times. Earnest money is generally put into a trust account upon acceptance of the contract to buy or sell a home. The down payment is required to be paid upon closing and represents the new buyer’s portion they are putting towards the home in order to obtain the mortgage. The amount of earnest money and down payment will vary on a number of different factors as this article explores.
Great Tips For First Time Real Estate Investors
When it comes to buying residential investment real estate the rules and requirements are a bit different than compared to buying a home one wants to live in. With real estate investment property there are higher down payment requirements, higher capital reserve requirements and more as Eric Jeanette points out. Investors would be wise to learn about the complete process due to the amounts of money required to buy investment real estate. By working with the right professionals real estate investors can help prevent errors that will end up costing them time and money.
The Minimalist Approach To Home Staging
Buying less, consuming less and having less stuff around the house goes along with the philosophy of minimalism. Whether one wants to live a minimal life for environmental or financial reasons the fact is minimalism means doing more with less. In this article by Karen Highland she provides some great advice on how homeowners can use the minimalist approach towards home staging when selling their home. The minimalist approach in general will allow the true space of a home to come through which will give buyers a better appreciation of the size and function of the home and its living space.
Tips For Finding A Great Property Manager
A great property manager can literally be worth their weight in gold. Think about it, by having a property manager who manages the day to day activities of one’s real estate investments means that the owners can use that free time to acquire more properties or just to relax. In this article by Katie Jones via Geoff Southworth she goes through the thought process of how to find a great property manager. While some investors may enjoy the day to day interactions with tenants, others are better off turning over that process to a professional so the cash flow can be maximized.
Which of the above articles was your favorite? Have any other favorites not in the list above? Feel free to mention that in the comments below!
The Real Estate Roundup For January 2019 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. Feel free to contact Paul for all your Greater Cincinnati and Northern Kentucky real estate needs.