Best of The Best Real Estate Articles August 2022
2022 has been a wild ride for real estate. The beginning of the year started with much of the same that carried through 2021…. Chaos. Then we had some drastic increases in the interest rates that have left buyers and sellers wondering where the market will head.
But no matter what, the real estate market marches on. Buyers need to buy and sellers need to sell. Get some great advice from these latest real estate articles.
Adjustable Rate Mortgages
The 30 year fixed rate mortgage has been the go-to loan for many home buyers. But, with the recent sharp rise in interest rates, lenders are offering Adjustable Rate Mortgages or ARM’s. An ARM can allow home buyers to initially lower your monthly mortgage rate.
Bill Gassett explains the ins and out of an adjustable rate mortgage, to see if one is right for you.
An Adjustable Rate Mortgage has a fixed rate for three to ten years depending on the program you choose.
Bear in mind, after the initial fixed period, the ARM can adjust periodically either up or down. There are adjustment and lifetime caps, so you will always know the worst case scenario upfront.
Because an ARM has you bearing some risk the lenders offer you a lower initial interest rate. Take the time to understand the product and if it is right for your situation.
Evaluating A Rental Property
When you are jumping into owning real estate investment properties, there is much to learn. One aspect of buying an investment property is evaluating an investment property you use for rental income.
Tammy Emineth has provided a blog post that discusses some considerations when evaluating a rental property.
First and foremost, you should evaluate your finances. What is your ability to purchase a rental home? But, beyond the purchase, what is your ability to sustain the property and provide any maintenance?
An often overlooked consideration is what are your legal obligations. Contact a local attorney to understand what laws govern you as a landlord for your state.
Reasons It May Be Time To Downsize
At some point, as you approach retirement or retire, you may look at your home and think maybe you should downsize. There may be a slew of reasons why downsizing may be right for you.
Kevin Vitali has provided 7 reasons you may think about downsizing.
One of the biggest reasons homeowners think about downsizing is for financial reasons. Often you have paid down or paid off your mortgage and could be sitting on a ton of equity in your home you could use to help fund your retirement.
On top of using your home’s equity, you may be paying to maintain a much larger home than you need or want. Downsizing could allow you to reduce your property tax, utilities and maintenance costs.
While financial reasons could top the list of why you may want to downsize, there are other considerations.
Being closer to family, lifestyle choices or having a home that allows you to age in place much easier are other reasons to downsize.
Best Real Estate Project Management Software
When you are a real estate agent there are always going to be tools that you can use to increase your productivity. The key is finding the right ones that will work best. There are many to choose from and the each provide their own unique set of business builders.
See some of the best software to increase real estate productivity. You will love reading about some of these excellent sites that can help catapult your business to new heights.
Real Estate agents that incorporate technology into their business tend to have higher incomes than those that don’t. When you want to make more money by being efficient, it will be worth it to check out these tools.
Who knows, you may want to find out how to become a real estate agent. For the very best it can be a lucrative industry to enter.
Decorating Your Home On A Budget
Who doesn’t love redecorating a room to give it a fresh new look? Or decorating a new home purchase?
But, our budgets don’t always fit our grand ideas. Luke Skar gives us some great ideas on decorating on a budget.
A great start to decorating on a budget is to start with neutral colored paint and furniture. When you start with a neutral palette, it is easy to bring in a small accent or decor pieces to change the look of a room.
It could be some new throw pillows or a lamps shade, window treatments or new accent pieces in a different color or pattern.
When you start with a neutral palette, it is much easier to incorporate a whole different look on a budget.
One last piece of advice is stick to your budget!
Transporting A Car
Sometimes a move to a new home is a long-distance one that has a lot of moving pieces. Consolidating personal items, packing, hiring movers, etc… can be stressful.
And, with a long-distance move, you might have to consider transporting vehicles across the country.
Fortunately, there are companies you can hire that will safely move your car from one location to another.
Moving your automobile starts with finding the right transportation company. From there, the transport company will do most of the work for you.
Michelle Gibson provides additional tips to make moving your vehicles an easy one.
Keeping Your Home Cool
It has certainly been a hot summer so far. It doesn’t matter if you are inside or outside, there have been some unbearable days.
Ideally, it would be great if you had central AC or some window air conditioners. But, not every home has HVAC or there are times during extreme heat you can’t even purchase a window air conditioner because the stores have run out.
Paul Sian gives us some additional thoughts on helping to keep your home cool. One way to help alleviate that summer heat is to keep your blinds and curtains shut. Light from large open windows is great, but with that light comes heat. On the hottest of days keep those blinds closed.
The Final Walk Through
One of the last steps when buying a home is doing your final walk through just prior to closing. The final walk through is your last opportunity to make sure the house is being delivered as expected.
Joe Boylon provides advice on what you should be looking for during your final walk through. Make sure you have your PS and any inspection requests handy to make sure the house is being delivered with the negotiated repairs done and as spelled out in the contract.
Make sure no damage has been done to the house since you last saw it from moving, storm damage etc… Finally, check to make sure all systems are working properly.
Once you have done your walk through and closed, you do not have much recourse if something is not operating properly.
Do Solar Panels Increase A Home’s Value?
That depends on who you ask, according to Conor MacEvilly.
Of course, solar companies want you to believe solar panels will increase the value of your home.
But when you ask real estate agents and appraisers, it’s a mixed bag. If you are in very sunny areas that are produce high kilowatt-hours, then there may be a modest increase in value. But in many parts of the country, home buyers couldn’t care less.
Many appraisers point out the solar system must be owned and not leased to give any consideration to value. Other studies show while there may be added value for a solar system, they usually cost more than the installation of the system.
Buying and Selling A House At The Same Time
Buying and selling a house can be one of the most stressful things to do, as it requires a lot of planning, preparation and patience. The ideal scenario is to have enough cash to carry your old house until you purchase a new home and then list the old house for sale. But for many, that just isn’t possible.
What every one wants is to close on both homes on the same day. While that seems like the perfect scenario, expect a wild ride getting there.
Vicki Moore provides some valuable tips on buying and selling a home at the same time. To do so successfully, have a full understanding of the money involved and a clear plan to get from the old house to the new house.
Previous Real Estate Roundups
- Best real estate articles for July 2022 – get timely advice from real estate experts.
- Best real estate articles for June 2022 – read the best real estate articles published in June.
About the author: The above article showcasing the best articles for August 2022 has been provided by Kevin Vitali. Kevin is a 20-year real estate veteran based out of Haverhill and Middleton Massachusetts. Let Kevin put his 20 years of experience to work for you.