Valuable Real Estate Advice For Buyers and Sellers
Love is in the air and you’re going to love this month’s real estate round-up! Whether you are a buyer, seller, investor, real estate agent or just someone who loves real estate you will enjoy all of these great articles written by top professionals in the industry.
Money-Saving Tips for Buying Homeowners Insurance
While homeowner’s insurance is required for some, it’s not required for others. Regardless, every single homeowner should have homeowner’s insurance. For most, a home is the biggest financial investment they’ll make in their life, so it needs to be protected. Nobody ever plans for catastrophic events, like a hurricane, but they happen.
The cost and coverage of homeowners insurance can vary greatly, which is why buyers and homeowners need to understand what they’re purchasing. The last thing an owner wants to find out is their insurance company isn’t going to pay their claim. So how are homeowners supposed to know what they’re getting and what to look out for? Michelle Gibson shares excellent tips for buying homeowners’ insurance and what everyone needs to know.
Do You know Your Credit Score?
Unless you plan on paying cash for everything throughout your life credit matters and in some cases, even if you pay money it matters. It determines what type of loans you qualify for along with the interest rates for these loans. In some industries, it can even impact whether or not you get hired for a job. That new apartment you applied for will most certainly look at your credit.
Even if you pay your bills on time and know every account, you have open you should still check your credit at least once a year. It’s not uncommon for people to find inaccuracies in their credit report, and the sooner a person knows about them the sooner they can get them resolved.
Finding out about these inaccuracies when applying for a mortgage or a car loan isn’t the best way to find out. There really isn’t an excuse not to pull your credit either especially when you can get your credit report and score for free as Bill Gassett shares.
Tips for Moving with Kids
Moving can be stressful, moving with kids and pets can take a person’s stress to another level. However, if you follow these excellent tips for moving with kids that Paul Sian provides you’ll be one step closer to a stress-free move.
First and foremost, parents need to realize moving isn’t just stressful for them it’s stressful for kids too, no matter how old they are. While a toddler may not understand, they do know things are changing around them and may not like it. They might go from sleeping through the night to suddenly waking up at odd hours.
Older kids are impacted too; some don’t want to leave their neighborhood or friends. The further the move, the more difficult it can be on a child, especially if they won’t be able to easily see their friends anymore. Change can be scary for all of us no matter what our age is, and parents need to keep that in mind.
When the move is finished don’t forget about tipping the movers if they do an excellent job.
VA Second-Tier Entitlement Explained
VA Second-Tier Entitlement is a lesser-known aspect of the VA mortgage, but it can be a real boost for some. Luke Skar does a great job explaining how VA second-tier entitlement works and how it can benefit our great American veterans. Not only can it wipe the slate clean and help them start over with a new loan after a foreclosure, but it also provides options for those moving to a new location under military orders.
How to Sell For Sale By Owner
Are you giving some thought to selling your home without the assistance of a real estate agent? Lots of people think about trying to sell on their own but quickly realize it is a lot of work and not as easy as you would think. Selling a house by owner often results in failure. Is it possible to increase your odds of success? Absolutely, which is precisely the pointers the article provides. See how you can increase your chances of success as a FSBO.
Pros & Cons of Selling a Home As-Is
Selling a home as-is has become the norm for most sellers throughout the country. However, some sellers still wonder if it’s something they should do. Decades ago, when a home was being sold “as-is,” it almost always meant the house was in poor condition, but that isn’t always the case today.
Most sellers sell as-is, so they don’t have to be burdened with repairs. That is undoubtedly a pro, but there are also some downsides to selling a home as-is, as Sharon Paxson explains.
Just because a seller decides to sell as-is doesn’t mean they don’t have to disclose defects. In some areas, an as-is sale gives the buyer an out, and they can cancel the contract for any reason during the as-is period.
That is a significant con, especially if it’s a long as-is inspection period. A seller could be packed up and moved only to find out the buyer is canceling the contract. Sellers need to weigh the pros and cons of selling as-is before committing to doing so.
What to Know About Home Inspections
When buying or selling a home, there is one hurdle that all of the parties in the transaction can’t wait to get through – the home inspection! There are more sales that fall through at the home inspection than at any other time in the transaction. See what you need to know about the inspection process in this handy house inspection checklist found at RISMedia. You will love all of the advice to give a better understanding of what to expect.
What Renovations Should Sellers Make?
Should sellers renovate their homes before selling them? This is a question a lot of sellers have, and it shouldn’t be taken lightly. A seller can easily lose money if they make the wrong improvements or possibly not be able to sell their home at all. Glenn Shelhamer, a top agent in Los Angeles, walks us through one of his recent projects.
A home that just sat on the market was quickly sold for top dollar after he was hired to sell the property. Why? Because he had the right renovations done and incorporated the perfect amount of staging.
Anyone who’s thinking about selling their home should have a top Realtor involved to ensure they don’t waste money making the wrong improvements. All buyers have certain expectations, and these expectations can vary from area to area. A local Realtor will know exactly what buyers expect. Therefore they’ll be able to guide their clients on what improvements or renovations to make, if any at all.
Benefits of Owning a Home
Buying a home is a big step for most people; it’s even a scary one for some. However, there is nothing to be afraid of because there are so many benefits of owning a home, as Jeff Nelson discusses.
There are several financial benefits, like building equity and tax benefits. There are other great benefits of homeownership like building wealth, like stability and freedom! You’ll never have to worry about the landlord kicking you out once the lease ends.
Moving is expensive, whether you do it yourself or hire someone. Not having to stress about where you’re going to live is priceless. Also, as a homeowner, you won’t have to answer to anyone. If you want to paint a room or the entire house, you can go without approval from a landlord. If you’re going to invest and freshen up the landscaping, you’re building equity for yourself, not the landlord. Plus, it can be more cost-effective to own a home than rent.
How to Shop for a Mortgage
Shopping for a mortgage is key to obtaining the best mortgage, rate, and terms. Yet, some people still walk into their bank and accept whatever terms the bank gives without blinking. Some just assume their bank will provide them with the best mortgage. While others aren’t sure about how to shop around for a mortgage.
Considering it takes most people 15-30 years to pay off their mortgage, everyone should shop around and be locked into the best loan and rate.
If you are one of the many, who don’t know how to shop for a mortgage, Kevin Vitali does an outstanding job explaining how to do so. Shopping for a mortgage is rather easy, and you don’t have to call countless lenders or brokers. Sometimes reaching out to two is all it takes to obtain the best terms.
Those who are planning on buying a home in the future would be best served by getting their financial house in order at least a year in advance. Doing so becomes more comfortable when you use a company like Credit Karma or Credit Sesame that assist in building a better financial picture for borrowers. Take a look at the pros and cons of each of these services.
The Biggest House Flipping Mistakes
Flipping houses can be a great way to make money, but it can also be a great way to lose money. Anita Clark shares the biggest house flipping mistakes that investors make. Not having the right team in place can be extremely costly, so can overpricing the home once it’s ready to list.
The longer it takes to renovate the home, the more carrying costs will be incurred. The same holds true when the house is placed on the market. Overpriced homes will just sit, and time is money when flipping a home.
Flipping a house isn’t as easy as it appears on TV. It takes a savvy, smart investor who knows what they’re doing and how to avoid mistakes. Being organized and staying on track is the key to making the most amount of money.
A Closing Checklist for Home Sellers
There are a lot of steps involved in selling a home, and the best way to make it a stress-free process is by being organized. Some people have a great memory and are super organized, but that can go out the window when it comes to selling a home.
Having a to-do list for before selling, during selling, and after closing is vital, as Joe Boylan discusses. Some of these lists, like the selling or closing checklist, can be addressed before listing your home for sale. Gathering necessary documents, like mortgage information, title information, and a survey ahead of time will start making a dent in the “to do” list.
Preparing for the home inspection and appraisal ahead of time is highly recommended too. Make all needed repairs before listing, so it’s one less thing the home inspector finds.
Previous Best of Real Estate Roundups
If you enjoyed the real estate roundup, have a look at some of our more recent issues.
- Best of January 2020 real estate articles – see what real estate topics where hot for January that buyers and sellers should know.
- Best of December 2019 real estate articles – read a few of the best year ending articles from numerous bloggers.
The best of the best real estate articles are loaded with excellent advice when you are buying or selling a home.
About the author: Michelle Gibson is a top Real Estate agent in Wellington, Florida, with the Hansen Real Estate Group and has been specializing in residential real estate since 2001.