September 2022 Real Estate Roundup
Interest rates are on the rise and have made quite the dramatic move in the last few months. This has caused a perceptible shift in the real estate market. Many buyers are stepping back as the current pricing of homes combined with higher mortgage rates are forcing those buyers to get out of the market. How long these rates will remain high and whether they will go even higher remains to be seen. Check out the article in this month’s round up to keep up on your real estate knowledge.
Seller Closing Costs
Both the buyer and the seller have their own closing costs they are expected to pay upon closing. This article from Bill Gassett looks at what kind of closing costs a seller can be expected to pay and how much those costs might be. Typically a seller should be getting cash back if they have equity in the property they are selling and the money they get back will be reduced by the amounts they have to pay towards closing costs.
What Is Earnest Money
Earnest money is an important part of any transaction to buy or sell a home or investment real estate. In this article by Luke Skar he explores what earnest money is, how much is typically put down when making an offer and what happens with that money in the end. While earnest money is not legally required it is highly recommended when making an offer to buy a home. Most sellers will not consider an offer serious if earnest money is not included as part of the offer.
Taking Out Extra Money When Buying A Home
When buying a home sometimes the home buyer wants to take extra money out to help cover other expenses such as buying new furnishings for their home. There are options to get extra money from a mortgage as Eric Jeannette explores. This is also a situation where the results depend on what the buyer and/or homeowner is doing. Some loans do allow for cash to be given directly to the buyer/homeowner whereas others do not.
Curb Appeal Boosting Tips
Whether you want to make your house look more inviting or you are planning on selling soon improving curb appeal can make an otherwise plain home look great. Curb appeal of a home is more than just landscaping as Kevin Vitali explores. With the six great curb appeal improving tips Kevin provides a homeowner can make some dramatic improvements to a home’s exterior. Many of the tips provided can easily be done by the homeowner themselves to save even more.
Commercial Real Estate Investing Terms
Looking to invest in commercial real estate, then this article is for you. Knowing the common terms used when investing in commercial real estate is important as that can help determine if the investment is profitable. Understanding those terms also means being able to better communicate with lenders, sellers, real estate agents and more. When knowing is half the battle knowing the lingo gives one a leg up on avoiding being taken advantage of.
Importance of Keeping the Gutters Clean
During the changing of the seasons it is important to remember the reason all gutters should be kept clean. Gutters are an important component of homes and buildings. They help divert water away from the foundation of the home. Too much water by the foundation can lead to a settling foundation as well as water seepage into the basement. Michelle Gibson provides some insightful tips as to why clean gutters are a must.
7 Real Estate Red Flags For Buyers
While the market is shifting and in the recent past buyers faced intense competition with other buyers it was hard to complete all the steps to make sure the home they want was a good home. Sharon Paxson provides seven red flags that warn a buyer to run in the opposite direction when buying a home. These tips will help prevent a buyer from getting stuck with a money pit or worse one that is a health hazard.
Where To Find Rental Property Comps
Comps are an important tool to use when buying investment property in order to make sure the price being paid is market value. Overpaying on a property can lead to a large loss of money down the line. In this article at Mashvisor.com they explore why an investor needs comps, how to find those investor comps and the reason some comps work and some don’t. Without the right comps an investor is just fumbling around in the dark.
Did you find any other article of interest this month and that is real estate related? Feel free to share below!
Real Estate Roundup for September 2022 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!
Thanks for this excellent list of real estate information.