January 2024 has come and gone and real estate sales are still slow compared to recent years.  The national average mortgage rate is around seven percent which is high compared to the recent past.  As the weather warms up it remains to be seen how the market will perform in terms of purchase and sales of homes during the spring selling season.  Investment real estate, especially office properties, have been seeing a correction in prices.  Check out these articles from January 2024 to keep up to date on real estate knowledge.

How to Tell a Home is Overpriced

When listing a home for sale one of the biggest obstacles to getting sold is the fact that the home is overpriced.  Buyers know an overpriced home when they see one and will not make an offer on the home as there are plenty of other homes in the proper price range to buy.  In this article by Bill Gassett he looks at ten tell-tale signs that a home is overpriced and what to do to correct the situation.  By getting the price in line with the market home sellers will be able to sell in a timely fashion.

What Does Being House Poor Mean?

Being house poor is a situation homeowners never want to be in.  But because of recent bidding wars, increases in taxes and insurance, job loss and more some homeowners will be facing a situation where they can no longer pay for the mortgage and pay to maintain the home they live in.  Over time with lack of maintenance the home’s condition quickly begins to deteriorate.  Before the home becomes unlivable the homeowner should explore some of the options available to get out of a house poor situation in this article by Paul Sian.

When Do You Get Keys to the House?

As a home buyer one you close on the home you usually get access to the home (depends on the contract terms, some sellers need to stay in the home after closing).  Access to the home means having the physical key (or the code to the door locks).  In this article by Alex Capozzolo he explains the closing process and when buyers will get keys to the home.  What situations can prevent the keys from being received are also explored in the article as well. 

Get a Mortgage After Retirement?

Typically, when applying for a mortgage the mortgage lenders will be looking for a source of income (usually from employment) by the person wanting the mortgage.  In this article by Conor MacEvilly he looks at the situation where whether someone who is retired is able get a mortgage.  Just because one is retired does not mean they are prevented from getting a mortgage.  There are some additional steps the borrower will need to take to as this article explores.

Tips For Selling a Home For Sale By Owner

Selling a home for sale by owner also known as FSBO means the seller decides to take on the entire process on their own for selling their house.  With the technology available to sellers these days it has never been easier to sell their home on their own without the help of a real estate agent.  In this article by Kevin Vitali he provides the tips and tricks a for sale by owner needs to have a successful sale.  By making sure the home is ready for buyers the seller can get a good offer early on in the process.

What Buyers Hate About Your House

When it comes time to sell a home if the buyers are not impressed, the sale process will become that much more challenging as this article from Luke Skar explores.  The entire process of selling a home means making it look like something a buyer will want to buy and move into.  That means making the home as top notch as possible when it comes to colors, cleanliness, features and more.  By making sure the home is presentable to buyers the home seller can make sure their home sells on time.

2024 Home Buyers Wishlist

Looking to sell your home in 2024?  Then making sure the home has features and amenities buyers in 2024 are look for is important and will help make sure the home gets sold in this tough market.  This article by Karen Highland provides thirteen different buyer wants for their home.  From remodeled bathrooms, energy efficiency, upgraded lighting, smart home tech and more top the list and some of the wants are easy to setup.

FHA Home Conditions for 2024

Many buyers opt to buy a home using an FHA mortgage.  The FHA mortgage has its own requirements for the condition of the home as Eric Jeanette explains.  Home sellers need to make sure their home is ready to meet the conditions set forth by the FHA in order to make sure the home sale is a smooth process and there are no surprises.  Even if the seller does not expect an FHA home buyer, by being ready to meet FHA standards the non-FHA buyer will also have fewer issues to contend with.

What other articles did you find helpful from January 2024?  Do you plan on buying or selling a home in 2024?  Drop your thoughts/comments below.

Real Estate Roundup for January 2024 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!