June 2020 Real Estate Roundup
Economies around the US started opening up in May and June from the shutdowns that came about as a result of the COVID-19 virus. Along with that there are fewer homes available for sale than before and still plenty of home buyers hoping to get into a new home. Now is more important than ever for buyers to make sure they are fully prepared to start the home purchase process as with the competitive real estate landscape out there multiple offers on a single property is almost the new normal for the time being. Check out some of the articles in this month’s roundup to help get an edge on the competition whether you are a buyer or seller.
New Home Construction Loans
When all else fails a home buyer can have a home built to their design and liking on vacant land. Vacant land is usually not as competitive since not every home buyer wants to pursue the new construction process. For those that do plan to go this route this article from Bill Gassett provides some excellent insight on home construction loan process. Home construction loans are available for more than just building a new home as Bill’s article explores.
4 Steps Towards Buying Your First Home
Buying a first home while looking like a huge challenge can be a relatively easy process provided that the home buyers get the initial steps done right from the start. In this article by Karen Highland she provides four important steps first time home buyers should be taking as part of their home buying process. Missing any of these critical steps could mean losing out on a great home especially in this highly competitive seller’s market. Many homes receive multiple offers within days of being posted on the market and buyers who are not ready will miss out!
De-Urbanization due to COVID-19?
The dreaded COVID-19 seems to be impacting everyday life where ever one looks. From economic shutdowns to social distancing this pandemic is changing life as we know it. In this article from Spark Rental they explore how the virus is accelerating the move from urban areas to sub-urban areas. Based on the data they share there was already a move out of urban areas and the virus is only speeding up that process. As more people look for homes outside of the urban core to move to the migration from urban centers will pick up the pace.
Six Flipping Mistakes To Avoid
Looking to get into the fix and flip investment strategy? There are some cautions to be aware of since this is not a sure-fire strategy guaranteed to always make one money. Instead as Maria Mastrolonardo points out there are six potentially harmful mistakes fix and flip investors must avoid when heading down that road. Mistakes like not researching an area, not getting permits, taking design choices from the wrong person, overpricing the home once done and more can guarantee an unprofitable investment.
Tips For Setting Up The Perfect Home Office
The COVID-19 pandemic has forced many to change their work location in order to help minimize the spread of the virus. Working from home (or WFH for short) is mandatory for many who are able to do so. Having a proper home office ensures that one can work productively and healthily. In addition to that, with the big demand for WFH those looking to buy a home are wanting a home office and having a great home office will definitely add value to a home as Paul Sian points out in his article.
What Makes A Bedroom?
One of the common questions about homes is what really is considered a bedroom. Often times there will be a room in a house that has a closet for clothing but not really be considered a bedroom for other reasons. Kevin Vitali explores the legal definition of a bedroom and why it is important to know when buying, selling or renting a home. While a room may pass for a sleeping space that does not mean one should be calling it a bedroom when listing a home for sale or rent.
Moving Mistakes To Avoid
Whether you just sold your or home or bought one and the moving is about to begin, getting the move done correctly is important in order to have a stress-free time. Bill Gassett writing for Kyle Hiscock’s Rochester Real Estate Blog provides several excellent moving tips and what to avoid when moving. Moving is a multi-step process that requires planning and coordination in order to make sure one’s household goods get to their new destination on time and in one piece.
Selling A Home During The Pandemic
Due to the COVID-19 pandemic the rules for showing and selling a home have changed. Even in spite of the virus people will always need to buy and sell homes and this article from Sharon Paxson explains what steps sellers should be taking when it comes time to sell their home during the pandemic. Sharon discusses virtual showings, in person showings, the home inspection, appraisal process and more. The better prepared sellers are for selling a home the smoother the process will be.
Home sales are still moving very quickly as buyers are looking for anything in their range that meets their criteria. Buyers who are unprepared will lose out in any bidding war. Sellers can still sell their home and keep a clean and safe environment that will benefit themselves and the buyers with the right precautions. Know of any other good real estate articles worthy of mention? Please drop them in the comments below!
The Real Estate Roundup for May 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.