As we pass August and enter September we transition from summer to fall.  Fall is a time when home sales typically slow down.  The market has seen fewer transactions in general due to the overall lack of homes available for sale and higher mortgage rates.  Fewer homes with still strong sales in many locations means prices are staying flat if not increasing over the short term.  Check out some of the great real estate reads from August 2023 in the roundup below.

What Can Hurt Your Real Estate Appraisal?

When buying a home or investment real estate with a mortgage an appraisal will usually be required.  The appraisal price needs to be at the same price as the price on the purchase contract or higher.  If the price is lower that could force the buyer to bring more money to the closing table, the seller to reduce the price or for the entire deal to get cancelled.  Bill Gassett discusses a number of areas that can hurt the real estate appraisal.

Questions to Ask Your Builder

Planning on building a new house?  Getting a good understanding of the process and how a builder works is important to avoid frustration and dashed dreams.  In this article by Paul Sian you get an incredible guide of questions to ask your builder.  Builders have different methods through which they will operate so understanding the process of the builder you want to work with is critical.

What Does It Mean When a Home Goes Under Contract?

When a home goes under contract that basically means the seller has accepted an offer on the home.  The buyer does not yet own the home and there are still other things that need to happen after a home goes under contract as explained by Karen Highland.  Closing is the final step, but prior to that an inspection happens, the appraisal happens and more.  Buyers and sellers will better position themselves to close by understanding the under-contract process.

Why Do FSBOs Fail?

For sale by owner or FSBO is the term used for when a homeowner opts to sell their home on their own without the help of a real estate agent.  FSBO does not always end in failure and even though a sale is completed that does not necessarily mean the best outcome for the seller will be seen.  In this article by Luke Skar he explores some of the common reasons a FSBO may not succeed.  Whether you want to sell FSBO or with an agent understanding potential pitfalls of selling a home can help keep you on track.

What is a Mechanic’s Lien?

When selling or buying a home both the seller and the buyer will want to make sure no mechanic’s lien are present that could hold up transferring the title.  In this article by Alex Capozzolo he explores the mechanic’s lien, the process of getting a lien filed, getting rid of a lien and more.  If the mechanic’s lien is legitimate it would be helpful to get it paid off and cleared.  If the lien is not legitimate then an attorney should be consulted for assistance in clearing it.

The Importance of Photography When Selling a Home

With over 90% of home shopping starting online it makes sense a seller should want to put their home’s best foot forward.  This means taking great photographs of the interior of the home so buyer’s will be impressed.  This article from Kevin Vitali provides some great insights as to why high quality photography is a must when selling a home and tips for making sure the photos look great.

Selling a Home for Cash As-Is

An as-is condition can usually signal a red flag for buyers.  Typically, with as-is homes the conditions inside the house may not be the best of shape and use a conventional mortgage is usually out of the questions.  In this article by Kyle Hiscock he provides tips for a homeowner to sell their home for cash in as-is condition.  In the article he discusses the pros and cons of accepting an all cash offer and what needs to be done.

Reasons Why Your Home Will Not Appraise

When a home does not appraise that means the price appraised for is found to be below the price agreed to on the purchase contract.  That does not usually mean the deal is over but it could.  There are other options both the buyer and seller have.  Understanding why the home appraisal came in low is important to help prevent that from happening again as Tom Horn explores.  Learn about some of the common reasons why a home won’t appraise in Tom’s article.

What other articles did you find helpful from the month of August?  Have you been actively shopping for a home or investment real estate?  Leave your thoughts in the comment section below.

Real Estate Roundup for August 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!