August 2020 Real Estate Roundup
With the end of August many schools are starting up and fall is right around the corner. Home buyers are still facing a tough and competitive market for buying a home since some sellers never came back onto the market after the virus-related shutdowns. Whether you want to buy, sell or invest in real estate this month’s roundup has something for you.
Moving Tips For A Less Stressful Move
Who doesn’t dislike moving? Moving can be a strenuous and draining activity but something that has to be done when buying or selling a home. In this article from Bill Gassett he provides some great tips to make moving easier and less stressful. Whether one plans on hiring movers or taking the DIY route for moving the tips in Bill’s articles are spot on. From packing things carefully and labelling so you know what to open first to having the appropriate supplies when unpacking this article provides the details.
Real Estate Agent vs. Real Estate Broker
Many know that real estate agents have to pass a test before they can assist others with buying and selling real estate. What some may not know is that agents are required to work for real estate brokers who have additional studying and testing to accomplish before they can get their broker’s license. Sharon Paxson provides a good understanding of the differences between real estate agents and real estate brokers in her article. Real estate agents generally are supervised by brokers and need to be following the directions and guidelines established by their brokers as this article explains.
Avoiding Common Home Rental Scams
As the market undergoes some shift based on home ownership and renting many rentals scams are popping up which take advantage of people who may need to move quick or may just be looking for that ideal space. In this article by Kevin Vitali he covers some of the common ways scammers will seek to take advantage of people looking to rent a home. One of the common phrases is that if it seems to good to be true it probably is applies here. Low rents in a great area, pictures only of the unit and never meeting the rental owner in person are some of the signs one should run the other direction when looking for a place to rent.
A Buying Guide For Buying A Home
Whether you are a first-time home buyer or have bought a home before knowing the proper order of things is important. While the mortgage pre-approval is a good first step getting a handle of one’s budget and understanding how much down payment will be needed is also critical as Michelle Gibson points out. Shopping for a home before a monthly mortgage budget has been established or even before discussing with a mortgage lender the options available is a sure-fire way towards frustration. With homes selling as fast as they are home buyers will miss out if they try and submit an offer without a pre-approval letter from a mortgage lender.
Quotes For The Real Estate Investor
Investing in real estate is a time old endeavor and quotes about real estate investing have been around just as long. This article from SparkRental provides some of the famous real estate quotes from well-known personalities as well as quotes from those agents with boots on the ground helping out investors. Understanding real estate investing before starting is important as with the amount of money involved and the size of the loans one can quickly find themselves underwater without the right expertise at their side.
VA vs Conventional Loan
For those who have the ability to do so the Veteran’s Administration or VA mortgage loan is a great loan for military veterans. Eric Jeanette provides some thoughtful points on the major differences between a VA loan and a conventional loan. So long as one meets the VA loan requirements in most cases the VA loan will beat the conventional loan for its ability to get a veteran into a home. VA loans are limited though so there may be a case where a conventional loan may be the only option for some veterans.
Buying A New Construction Home
With most new home construction, the home builder has their own real estate agent on staff. While the builder’s agent is there to help the home buyer select the home features and finishes they want they still ultimately represent the builder and not the buyer. Home buyers who want to buy a new construction home can hire their own buyer’s agent as this article from Karen Highland explains. A buyer’s agent will represent the best interest of their client and help with the process of negotiating and explaining to the buyer how the process is supposed to work.
Where A Home Should Be Listed For Sale
Most homes are generally listed in the local Multiple Listing Service (MLS) which covers the geographic location of the house itself. In some cases agents in other areas list a property in their local MLS which while on the market is not in the proper MLS it should be in. Listing a home for sale in an outside MLS does not benefit the homeowner at all and in fact can hurt the homeowners chance of selling for the highest and best price as this article from Paul Sian explores. Agents may list homes in outside MLS for any number of reasons and those reasons mainly benefit them as opposed to the homeowners as this article explores.
The virus shutdowns have changed the real estate selling schedule in many markets so only time will tell what the fall 2002 market brings. Do you have any thoughts or ideas on how you think the real estate market will be in the fall? Share your thoughts below!
The Real Estate Roundup for August 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.