Top Real Estate Articles For Home Buyers and Sellers For April
Do you love reading great real estate content? If so, strap yourself in for this month’s real estate roundup. Tight inventory and low-interest rates have continued driving real estate prices skyward across the country. And as the economy and jobs continue to improve, there’s little doubt that real estate markets will continue booming in the immediate future.
As the housing industry enters its prime hot season, here are real estate expert tips and commentary from across the country.
Getting a Mortgage With a New Job
Job growth and lower unemployment rates mean more Americans are back at work — at brand new jobs. So what does that mean for would-be homebuyers trying to qualify for a loan?
Eric Jeanette from Dream Home Financing breaks down mortgage employment requirements, including needed documentation, gaps in employment, changes in income, and switching from a W2 to 1099 worker. If you’ve changed jobs recently or working with a client who has, make sure you understand how to get a mortgage with a new job.
What Homeowners Need to Know About Septic System Inspections
Buying a home with a septic system comes with an extra wrinkle: the septic system inspection.
How do septic systems work? How often must they be inspected? What septic system red flags should homebuyers and homeowners look out for?
Bill Gassett takes a deep dive into septic systems (apologies for the crappy pun) and exactly what homeowners, sellers, and buyers need to know. While septic systems make homeowners less reliant on public infrastructure and can reduce utility costs, they still come with their own complications. Brush up on septic system inspections before buying!
How to Pay Off a Mortgage Early?
Is it one of your life’s goals to pay off your mortgage early? If so, you are not unlike a lot of folks. Some people just don’t like to have debts. In fact, as crazy as it sounds, some people have trouble sleeping at night when they owe others money.
The Benzinga article provides some excellent actionable tips on how you can pay off a mortgage before it is due. By following the guidance, you’ll have your mortgage paid off quicker than you ever expected.
Selling an Inherited Home
When you inherit a property, it must typically go through probate: the legal procedure for assets changing ownership according to a deceased owner’s wishes. That adds its own complications but also takes time and causes delays.
Which says nothing of the tax implications of inherited properties.
If you’ve recently inherited a home or believe you will inherit one soon, take the time to learn how to sell an inherited home. Understanding the process can save you months of a legal logjam in probate court and help you streamline the process.
Marketing Rentals to Snowbirds
Snowbirds are people (usually older adults and retirees) who spend their winters living in a second home in a warmer region. As seasonal occupants, they pay a pretty penny to rent for the entirety of the on-season — then leave for the off-season.
That comes with several implications for landlords and property owners in warm climates, such as the challenge of how to maximize occupancy and revenue during the off-season. If you rent seasonally, try these snowbird marketing tips to boost not only your rent but also your net profits with higher occupancy rates.
How to Get Investment Property Loans with Bad Credit
Many Americans have looked to diversify their investments to include rental properties over the last year, as property values have soared and record government spending has fueled fears of looming inflation. But not everyone has perfect credit to streamline the loan process.
Fortunately, they have more financing options than most novice investors realize. If you don’t have perfect credit, try these options for getting an investment property loan with bad credit.
Lender-Required Home Repairs
Mortgage lenders don’t just rubber-stamp loans for any property. As collateral for the loan, the property must meet certain habitability criteria. And no lenders are more detail-oriented sticklers than FHA and VA loan lenders.
If you’re looking to buy a home with a VA or FHA loan — or sell a home to a buyer who is — make sure you understand exactly what repairs these loan programs require. Andrew Kolodgie of The House Guys breaks down not only what repairs these programs require but also who’s expected to pay for them and how lenders determine the need for repairs.
Read up on lender-required repairs for FHA and VA loans before assuming you can buy with those loan programs!
Save Money for a Home Without Noticing
Everyone’s least favorite “S word” is sacrifice.
We all want to have our cake and eat it too, preferably without dieting beforehand or working out afterward. But saving money to buy a home means not spending it on new clothes, on a flashy car, on dinners out, and on, well, cake.
But you can save without sacrificing, at least to an extent. By streamlining your personal finances and budget, you can find ways to funnel more money toward your down payment without putting a noticeable dent in your quality of life. You can even have an emergency fund as well to fall back on in leaner times.
Try these “invisible” ways to save more money to buy a home from Howard S. Dvorkin, and you’ll find yourself enjoying your dream home in no time. By following sound guidance, you will no longer be needing to pay rent.
Home Inspection Mistakes to Avoid
Far too many homebuyers worry about the home inspector uncovering problems with their “dream home.” They should worry more about the home inspector missing critical issues at the property instead.
The entire reason you conduct a home inspection is to catch these issues before you buy. And, ideally, to force the seller to pay for repairing them. Knowing what to expect from a home inspection and then setting your own expectations can be helpful.
As you hire and work with a home inspector, talk to them about these common home inspection mistakes. The last place you want to find yourself is the proud owner of a property with major foundation problems, roof leaks, dated electrical systems, or other expensive problems that put you even deeper in debt to fix.
What a Home Selling Checklist Should Have
One of the most vital aspects of selling a home is appearance and first impression. It starts on the outside and continues right on through the home and into the backyard. Real Estate agents talk about home sale preparation all the time. It includes things like curb appeal and staging.
Without paying attention to these things your home is not going to stack up to others in the marketplace. Many sellers today are keen to have a leg up on the competition. They have been educated to understand that a well-kept home can translate to putting more money in their pocket.
In his outstanding article, Kevin Vitali provides a terrific home selling checklist for homeowners to follow. By using the guidance, you’ll put yourself in a much better position to get multiple offers and sell your property over the asking price.
Alternatives to Home Improvement Loans
Just because you know what homebuyers want (or what you yourself want) doesn’t mean you can afford to cover it with your savings.
If you’re looking to borrow money to pay for home improvements, you have more options than you think. Try these eight alternatives to home improvement loans to get creative in paying for your dream house updates — and possibly save money in the process.
How Real Estate Listing Websites Work
Real estate agents are familiar with the MLS, but everyone else must go through third-party websites like Zillow, Realtor.com, and local Realtors’ websites to browse real estate listings.
How do these websites work? Who owns them? Is any information from the MLS listing withheld from public view? How often are the public websites updated?
Paul Sian explains exactly how real estate listing websites work and what homebuyers need to know to navigate them effectively.
How to Win a Bidding War
All over the country, real estate markets heavily favor home sellers. Inventory is super low, and there are tons of buyers itching to find a home to purchase. The perfect storm is in place to attract multiple offers on homes, which is exactly what is happening.
Unfortunately for home buyers, they are often up against multiple bidders and lose out on the home they really want. Many buyers are asking their real estate agents what they can do to increase their chances of winning the bidding war. In her article, Petra Norris provides some excellent tips for improving your odds.
How to Have a Successful Real Estate Closing
If you have never sold a home before, the closing process will probably seem foreign to you. Many things happen from the time you accept an offer on your home until the time you close. If you have an excellent real estate agent, they will be going through the steps to help you along the way.
Eileen Anderson does a terrific job explaining what you can expect from start to finish when going through the closing process.
Homebuyers’ Top 10 Wish List in 2021
What do buyers look for in 2021?
Trends come and go, in real estate as in everything else. And whether you plan to sell your own home or represent a seller as their agent, you need a finger on the pulse of homebuyer demand if you want to sell for top dollar.
Make sure you understand exactly what homebuyers want in today’s housing market. You can tweak your home or marketing strategy accordingly to tailor them to meet demand and sell quickly and for maximum profit.
Previous Best of Real Estate Articles
Can’t get enough real estate news and education? Check out the last two months’ roundups of the best real estate articles from around the web:
- Best Real Estate Articles March 2021 – last month’s real estate education roundup of the best articles for homebuyers, sellers, investors, and real estate agents.
- Best Real Estate Articles February 2021 – even more articles filled with informative real estate buying, selling, and investing advice.
About the author: G. Brian Davis is a real estate investor and founder of SparkRental.com, which helps middle-class Americans replace their day job with rental income through free video courses and property management software. He spends most of the year traveling overseas with his family.