Fall has started and the real estate market is getting back to the old pattern where after a summer slowdown the fall market sees a slight uptick in listings and buyer activity.  Sellers are seeing lower buyer interest for their properties and downward price adjustments are starting to happen again.  If the trend continues, winter will see further slowdown in the real estate market.  Regardless of the type of market someone is always wanting to buy or sell real estate so be sure to check out the helpful articles in this month’s roundup.

The Difference Between A Buyers Agent and Listing Agent

There are differences between buyer’s agents and listing agent as this article from Kevin Vitali explores.  Real estate is a complicated endeavor and having an exclusive person on your side to represent your best interests is ideal.  Attempting to work with the listing agent when trying to buy a home is not going to get you a better deal and in fact can end up costing both the seller and the buyer since they listing agent then has to step back when trying to represent both parties as this article explores.

Should You Get A Second Mortgage On Your Home?

While the Hobbits may yearn for second breakfast, getting a second mortgage on your home should be approached with a little more caution as Michelle Gibson explores.  A second mortgage can get a homeowner access to money that they could use to improve the condition and therefore the value of the home but it does come with a cost.  The interest rates are usually higher with second mortgages and the terms much shorter.  So while a second mortgage to get access to more funds may seem like a good idea it may be more costly than it is worth.

Researching Property History

When buying a home part of the due diligence should involve more than just reviewing the disclosures.  Home buyers should also be looking at the property history to see most recent sales, when the home was built, and more.  Historical information can reveal that the home was a former foreclosure that needed extensive repairs to get it back in shape, the fact that someone passed away in the home, the home was a formerly associated with the production of meth and more.  The article from Bill Gassett provides an extensive list of resources home buyers should be using to learn about the full history of a home.

What Taxes Will You Pay When Selling A Home?

The old saying goes that nothing is more certain in life than death and taxes.  When it comes to selling a home, yes there are also taxes involved as Vicki Moore points out.  Taxes associated with selling a home can include income taxes, capital gains taxes, property taxes, local government fees and more.  As with real estate these taxes are specific to the location of the home.  To start learning about the taxes that may be charged to you when selling a home find out about the fees and taxes of your local municipality.  If you work with a CPA it may be helpful to have a conversation with them about what you may owe at the federal and state level if anything.

The Pros and Cons of a USDA Mortgage

The USDA mortgage is loan product for buying a home in certain rural areas.  Home buyers can use the USDA mortgage to buy a home with no money down, get low interest rates and more as this article by Luke Skar explores.  With the positives though do come some potential downsides.  Home buyers who are considering buying a home using a USDA mortgage should make sure they fully understand all that is involved and compare the mortgage fees and monthly payments with other types of mortgages in order to make sure they are getting the best loan available.

Buying Real Estate With Cryptocurrency

Cryptocurrency such as Bitcoin, Etherium, Litecoin and many more represent an alternative form of money.  With the recent gain in these cryptocurrencies the crypto investors are trying to use it for more than just holding for gain in value.  Some are actually buying and selling real estate using cryptocurrency as this article from Paul Sian explores.  Right now the current systems do not allow the full transaction to completed only using crypto as Paul explores.  In the future there may be other digital currencies that can allow for the end to end buying/selling of real estate.

Permits and Buying A Home

When getting work done on a home sometimes permits are required in order to make sure the work is done in accordance with local building codes.  The process of getting permits and inspections can slow the overall work down and increase the cost so as a result some homeowners opt to get the work done without permits.  Home buyers who are considering buying a home that has had work done to it should be checking for permits as Conor MacEvilly explains.  Regardless of who owned the home when the work was done, if unpermitted work is discovered the current homeowner will be on the hook for making sure the work gets re-done in accordance with requirements.

Current Status of Eviction Moratorium

Residential evictions were put on hold as a result of the global pandemic.  Some cities, towns and states had their own eviction moratoriums on top of ones imposed by the federal government.  Spark Rental explores the current status of the eviction moratoriums and dives in to see which states still have some sort of moratorium in place and what that specifically involves.  If you are a multi-state residential investor this article is helpful to learn about the states where you own or want to own property in stand.

What Is A Homestead Exemption?

Petra Norris looks at the homestead exemption and how it can benefit homeowners through lower property taxes.  Many different states offer homestead exemptions and differing rules will apply.  Petra looks closer at the Florida homestead exemption, the requirements to qualify as well as what taxes can be saved by the homeowner who qualifies.  To find out about the homestead exemption in your state start by performing an internet search with the name of your state and the words “homestead exemption”.

What other real estate articles or podcasts did you find insightful?  Please see down below and share your thoughts in general on the real estate market.

The Real Estate Roundup for September 2021 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. Do you have a home you are ready to sell now in Greater Cincinnati or Northern Kentucky? Be sure to contact me now!