July 2020 Real Estate Roundup
Real estate markets around the US are on fire with the low interest rates and low inventory. Multiple offers mean bidding wars between buyers. Home buyers absolutely need to be prepared in order to get a house out of the limited amount that are currently available. Those homeowners who are not 100% required to sell are also taking a step back since buying a new home may not be easy once their old home has been sold. Check out the articles in this month’s roundup to learn how one can best position themselves whether they want to buy, sell or rent a home.
Smart Tips For Spotting A Rental Scam
Kevin Vitali provides some of the typical signs of a rental scam that renters should be on the lookout for when searching for a place to live. While rental scams are often found on Craigslist that does not mean it does not happen on other services that advertise places for rent. Many of these ads sound too good to be true because it is not true and the scammer is relying on people thinking they should not pass up a great deal. Usually if one cannot get into to see the living space, and the “owner” keeps making excuses it may be time to run in the other direction as Kevin points out.
FHA Mortgage Loans
One of the more common mortgage loans used is the FHA loan. The FHA mortgage allows for a lower down payment, lower credit score and higher debt to income ratio than a conventional mortgage might require. In this article by Bill Gassett he provides a helpful guide for home buyers wanting to understand the FHA mortgage. In today’s competitive seller’s market home buyers need to be ready with pre-approval in hand if they expect to get a shot at bidding on a home.
Tips For Buying A Condo
Condominiums represent a different type of home setting that some will prefer over the more traditional separate single family home. In this article by Maria Mastrolonardo she provides some important questions to ask prior to buying a condo. Condos have additional fees, rules and regulations that are not commonly found with a regular home so buyers need to know what they are getting into both financially and in terms of what they need to understand to while living there.
Mistakes To Avoid When Flipping A Home
Homes are still in high demand everywhere one looks and investors looking to cash in on the fix and flip investment strategy can make some good profit if their flip is done right as Sharon Paxson explores. In her article about major house flipping mistakes to avoid she covers what types of mistakes will quickly trip up investors causing a loss in profits. With many homes what lies beneath can result in a huge overestimation of the cost of repairs and a loss rather than a profit.
Rents and Home Values In A Recession
Spark Rental takes a look at how home values and rent fare during a recession. In some past recessions home values have actually gone up and in some areas rent also can go up as people leave homes but still need a place to live. Real estate is very location dependent and in some markets as the area experiences a net increase or decrease in population that will have an impact on the housing and rent values as Spark Rental explores.
Home Values and Defunding Police
Tom Horn writes about how the defunding of police may impact home values. As an appraiser Tom has a good insight into the appraisal industry and writes frequently about home values and the factors that have an effect on it. Tom’s article explores how demand for homes in such an area might change, the impact of insurance rates and impacts on investor activity. Whether defunding police comes to reality is another question but if it does happen there will be impacts.
Tips For Installing Wall Tiles
With many people being at home these days there is a big push towards the DIY home improvement just to make a home look better. In this article by Danny Margagliano he provides tips on how to install tiles on a wall like a pro. Whether you are installing the tiles for updates in your own home or in anticipation of selling the home new tiles can help improve the looks of bathrooms and the kitchen.
Tips For Move Up Buyers
If you are thinking about selling a home with the plan to upsize then knowing what considerations to take into account is important. Depending on how the market is where one plans on moving to, finding another house could be tricky. In this article from Luke Skar he provide tips for move up buyers and explores what should be taken into account for the decision to put a home on the market is made. From exploring the reasons for selling in the first place to considering whether the move is being made to upsize or just change location the article goes over some important thoughts to have beforehand.
Tips For Selling A Home During The Pandemic
As many can tell home sales are still going strong with many buyers competing over the same property. Proper preparation of the home makes sure home buyers are ready to pay top dollar. Home sellers need to be ready to show the home off in a safe manner as this article from Paul Sian explores. From virtual showings to having all the right supplies while in person showings are being conducted will go a long way to keeping everyone healthy.
The real estate market is still very active in many regions across the US. Fewer homes available for sale ensures bidding wars and higher prices as long as buyer demand remains. Even with all the competition, sellers will still need to put their best foot forward with their home otherwise the offers will be lower as opposed if a home has been fully prepared.
The Real Estate Roundup for July 2020 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.