September 2020 Real Estate Roundup
Fall has begun and that means the fall home selling season is here. Fall is the second busiest time of the year for the buying and sale of homes in many markets. Spring this year would have been peak but COVID19 shutdowns around the US pushed back that time frame so instead the summer was when more home buyers and sellers were active. Due to the shifting demand for homes away from downtown areas suburban areas saw what few homes were available for sale get quickly snatched up by anxious buyers. Fall promises to be the same with interest rates still low and demand still high from home buyers who don’t have much to choose from. Check out the articles in this month’s roundup to get ready for the fall real estate season.
Tips For Move Up Buyer
For those homeowners who are considering moving up to a larger home this article from Luke Skar provides some insightful tips to consider when buying a larger home. Home buyers need to consider how fast will their current home sell and if there will be another home available for them once sold. Other things to consider as discussed in this article include preparation work for selling one’s current home, where the new home is to be located, the true reasons for moving, budgeting to buy the new home and more.
Getting Your Kitchen Ready Prior To Selling Your Home
For many the kitchen is one of the more important areas in the home. Whether the homeowner is looking to entertain guests or family or simply enjoys cooking the kitchen can make or break the sale of the home. Old and unclean kitchens are not something home sellers want potential home buyers to see since that will likely end consideration for many. Lynn Pineda provides some easy and effective tips for getting a kitchen ready prior to listing it for sale. Whether the kitchen is as important or not to a particular buyer most buyers will be appreciative of a clean kitchen.
Buying A Fixer Upper vs. Move In Ready Home
The fixer upper home (also known as as-is home), while may be a great value could also represent quite a bit of work that the home buyer has to accomplish to get their home into a livable state and make it something they can enjoy as Bill Gassett explains. Most buyers are looking for move in ready homes so they only thing they have to do is move and start living their lives in the new home. Whether a home buyer should buy a move in ready home or a fixer upper home is a question to be weighed considering the time and funds one has and which choice makes more sense.
Can A Buyer Walk Away From A Home Purchase?
When COVID first hit, taking everyone by surprise, there were many home buyers who got cold feet and decided to walk away from buying a home. For those who were not in contract that was a simple matter of stop searching for homes. For home buyers who were in contract though it was a different matter since those buyers had a legal agreement binding them. This article from Kevin Vitali explores how home buyers can walk away from a home purchase. In some cases the home buyer can walk away with very little consequence other than time spent, for others it may not be that easy or cheap as Kevin explains.
Should You Sell A Home In As-Is Condition?
Whatever the reason may be sometimes home sellers need to sell their home in as-is condition. There will always be a buyer for any type of home given the right price. Selling a home in as-is condition means taking less money and needing to be honest with what the issues are with the home as Sharon Paxson discusses. Most buyers who are looking for the move-in ready home will likely not be interested in the as-is home unless they are planning to use a rehab mortgage loan. As Sharon points out the best way to sell a home and get the most value is to fix it up.
Should You Buy A New Construction Home?
With home inventory being in short supply in many markets around the US it might be beneficial for the home buyer to look into a new construction home. While buying a new construction home is a longer and slightly more complex process the home buyer will end up with a house that is more suited to their needs as Danny Margagliano explores. Especially where already build homes are in short supply the new construction home can be built anywhere there is some open land that meets the zoning requirements. Danny points out the benefits of building a new home and what one needs to consider when taking that option.
Podcast: First Time Home Buyer
This recent podcast from Paul Sian features a unique take on the first time home buying process by interviewing a mortgage lender who just purchased his first home. Who better to provide insight into buying a home than a mortgage lender buying his first actual home. In the podcast Paul and his guest explore what steps should be taken for getting a mortgage and in what order those steps should be taken. If you are a first-time home buyer and planning on starting the mortgage process this is a must listen podcast for you.
Tips For Increasing Your Credit Score
Your credit score will have an important impact on the types of mortgages you will qualify for and will have an impact on the interest rates paid for the life of the mortgage. The higher the interest rate the more money one has put into that home when they might not have had to if they had a higher credit score. In this article by Michelle Gibson she provides insightful tips on how to boost one’s credit score prior to buying a home. The sooner one begins working on their credit score prior to actually getting a mortgage the better off they will be with lower interest rates for the life of that loan.
Have any articles that were your favorite from above? Or know of other great real estate articles? Please share them in the comments below!