As we get into the fall season home sales typically begin to slow down in most markets.  Home sales are slow compared to prior years and with mortgage rates back in the high 6 and low 7 percent range both home buyers and home sellers will be squeezed again.  Price and value of existing homes for sale have not been dropping much compared to the start of the year but whether that holds up through the rest of 2023 remains to be seen.  Check out these great real estate reads from July 2023 to keep up on your real estate knowledge.

Tips for Renting To Friends of Family Members

Whether you want to rent a room, an apartment or an entire house to friends or family member it is good to remember that there are still costs to be paid and rule to be followed.  Bill Gassett provides an excellent article about what to consider when renting to friends or family members.  Even though they are your friends/family members it is still wise to get everything in writing and make sure expectations are properly set up front before any moving in is done. 

Creating The Ultimate Man Cave

If you have the space, setting up a man cave can be a great way to add a feature room to your home and get more use out of it as well.  In this article from Kevin Vitali he provides a number of different styles/themes one can use for a man cave depending on one’s interests.  There are different themes for different desires and some can even be combined to have a multi-purpose man cave setup.  Kevin even provides a helpful FAQ and tips for what to do with the man cave when readying the home for sale.

Should You Agree To A Contract Extension?

Usually when a contract is written for the purchase of a home the buyer and seller agree on a timeframe for when closing will take place.  Usually this is a fixed date but delays can happen.  Michelle Gibson looks at whether the buyer or seller of a home (or investment real estate) should agree to a contract extension.  Both sides need to agree that an extension is needed and on how long that extension will be.  Depending on the stage of the transaction and why the extension is needed it may be in both the buyers and sellers interest to work together on it.

We Buy Ugly Houses – Pros/Cons

You may have heard of the We Buy Ugly Houses company or similar companies that offer to buy your home in as-is condition.  There are some upsides and downsides to selling a home to a we buy ugly houses type of company.  The home can be sold as-is and pretty quickly for a cash sale but the seller needs to understand the downsides as well.  By selling in such a manner the seller may be giving up money they could get if they sell on the open market.

Tenant Proofing an Airbnb Investment Property

You bought a nice property to invest in as a short-term rental.  In order to protect that investment it is advisable to make sure the Airbnb property can stand up to the test of tenants.  In this article by Alex Capozzolo, he provides ten tips to make sure the short-term rental you have can stand up to tenants use.  Things such as buying durable furnishings, vetting guests properly, setting up house rules and more can help ensure your investment is a profitable one.

Skipping a Sewer Inspection Could Lead to a Stinky Situation

Depending on the age of a home and the neighborhood it is in the sewer line could have seen issues from tree roots, construction work, backups in the line and more.  By not inspecting that sewer line when buying the home the home buyer could be setting themselves up for problems down the line as Conor MacEvilly explains.  Repairing a damaged sewer line can be expensive and cleaning up the damage left from a backed-up sewer line can be even worse.

What is an Appraisal Gap/Appraisal Gap Coverage?

Whenever a home is purchased with a mortgage, generally the lender is going to require an appraisal to make sure the home’s value is reflected in the contract price.  What happens when the appraisal is lower than the contract price is the question.  In this article by Eric Jeanette he provides information on what is an appraisal gap and what is an appraisal gap coverage clause.  Both home buyers and sellers need to understand the appraisal process when transacting in real estate.

Signs of a Raw Real Estate Deal

Everyone loves a good deal, but all too often looking for the good deal can prevent one from seeing a bad deal.  In this article by Karen Highland she provides some signs of a bad real estate deal that should be avoided.  Things like pricing issues, repair issues, trying to hide defects and more can be treated as a sign to run in the other direction.  Even some of the professionals involved in the deal can give off bad vibes and need to be watched for.

What articles did you find helpful from the above list?  Any other real estate advice you would like to provide?  Please drop your thoughts in the comments below.

Real Estate Roundup for July 2023 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 17 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!