Sizzling July Real Estate Reads

While our world is experiencing unprecedented changes, from a Pandemic to challenging economic times, homeowners, home buyers, and home sellers are still seeking wisdom and good advice for the decisions they face regarding their homes.

Fortunately, some of the smartest real estate pros I know are providing consumers with helpful information. These articles are filled with their expertise and insight this July.

Telling The Truth in Real Estate is Critical

Best of July Real Estate 2020Kevin Vitali, Massachusetts real estate pro, has a timely article over at Realty Times: The Truth Every Home Sellers Should Know About Open Houses. Understanding this kind of real estate marketing has never been more crucial than during this pandemic. This article explores several myths that have surrounded the practice of having open houses for years. As more and more home sellers are concerned about opening their homes to anyone, the thoughts of health and safety have never been more concerning.

Let’s be real, says Kevin, most home buyers are scouring the internet daily to find the perfect home. Stud after study as shown that the visual and verbal presentation on real estate marketing websites is the number one source that sends buyers to check out a potential home. So why do we hold on to the myth that an open house is a necessity?

On the topic of exposing myths, Bob Gordon, Boulder Colorado real estate pro, explains the practice of Zillow’s misleading pre-foreclosure listings. Once again, we are reminded that Zillow is a marketing website, not a real estate company, bound by the Realtor Code of Ethics.

Most of the homes that show up as a pre-foreclosure on the Zillow website are not necessarily so… sometimes they are on the website one day and gone the next. If you are looking for accurate information regarding distressed sales, do yourself a favor and give this article a read.

When selling your home, the issue of disclosure is an important one to understand. State laws may be nuanced when it comes to what a seller must disclose, but one thing is universal: there can be legal ramifications when disclosures are not correctly done.

Without a real estate agent who understands state and local real estate practices, home sellers risk running afoul of state laws and risk future problems…even lawsuits. Check out Sharon Paxson’s informative article about disclosing when selling a home to make sure your home sale is successful and risk is minimal.

Real Estate and The Stuff of Life

Along with the excitement of buying and selling a home comes the less exciting prospect of moving. Whether you’re moving across town or across the country, You have two choices: DIY or hire a moving company.

Bill Gassett has an information-packed article for those DIY’ers who prefer to move their own stuff. U-Haul should be at the top of your list.

This article is a thorough explanation of the truck and the extra features, insurance, fuel costs, packing, and what you can expect concerning many issues in moving. When renting a U-Haul truck, this is definitely what you need to know. Without a doubt, they are one of the best moving truck companies that any home buyer or seller should consider when they don’t want to hire a professional mover.

Experienced real estate agents have helped sellers and buyers in many situations over the years, including those who are looking to “right-size,” or some might call in downsizing. If you are considering a smaller space to call home, Maria Mastrolonardo has written an informative step-by-step guide to downsizing.

From the decisions about what to do with the “stuff” of life, to what to do to prepare your current home for sale, the steps can be overwhelming. Use this helpful guide to make a plan for your move, and the process of getting on to the next phase of your life will be smooth.

Home Buying and Selling in 2020

If you are selling your house during COVID-19 or considering it, there are unique challenges, to be sure. Kevin Vitali again has some great advice to make the process safe and successful. While many people may be looking at the negatives, some home sellers are taking advantage of the two BIG positives of this market: lack of inventory coupled with healthy demand and unprecedented low-interest rates.

This could be one of the best times to sell in a very long time. Check out Kevin’s tips and see how you can navigate this challenging but up-and-coming real estate market. Sellers and buyers should, however, have a firm grasp on how mortgage lenders have been impacted by Covid-19. At times loan commitments and closings are being delayed. During times of uncertainty, there are a whole different set of hurdles and roadblocks that can make the process of buying and selling that much more challenging.

If you are preparing for a home sale in the future, then you may be considering some home renovations. When renovating your home, however, it helps to be aware that not all parts of your property are worth restoring, when you are thinking about return on investment. You’ll want to focus on the improvements that potential buyers are likely to focus on.

Paul Sian, Cincinnati real estate pro, has Ten great tips for adding value to your home. You’ll want to make the most of your renovating dollars. You’ll also want to keep in mind that every property has its ceiling price depending on age and location. Ensure that the investment you put into your home is the wise choice with the advice of an experienced local real estate agent.

Are you considering a first time home purchase in the future? If so, you will want to prepare well ahead of time. There is no time like the present! From developing your creditworthiness to boosting up your savings, there are a few steps that are crucial. Check out these four simple steps to prepare for a home purchase.

News for Real Estate Investors

G. Brian Davis has an insightful article on the SparkRental site explaining the possible current trend of de-urbanization in the wake of COVID-19. The growing data certainly is pointing to a migration out of our cities, after we’ve seen a decade of the opposite.

Even before the pandemic, statistics started showing this trend as more and more urban dwellers started looking to move to the suburbs and even rural areas. What will this mean for housing? What will it mean for rents in urban areas. Real estate investors, as well as current and future homeowners, will benefit from giving this content some attention.

Along the subject of real estate investing, Danny Margagliano has written an information-packed piece on Mixed-use properties, how they came into vogue, and whether they are a beneficial option for investors and consumers.

If you are interested in diversifying your investments, lowering your risk, or learning more about mixed-use properties, check out Danny’s article. Don’t miss the supporting articles for a thorough investigation into mixed-property investment.

Finally, wouldn’t it be great to invest in a real estate market that you were confident was improving? Appraiser Tom Horn in Birmingham shares five ways to identify an increasing real estate market. By studying the inventory, time on the market, and price statistics, we can learn a lot about the local market.

In many places in the country, we are seeing a limited inventory with a healthy or increasing demand. This, in conjunction with the sales price to list price ratio, is worth your scrutiny if you want to consider an area for real estate investment.

Previous Best of Real Estate Editions

See previous real estate roundups published at Massachusetts Real Estate News.

Karen HighlandAbout the author: The above article showcasing the best real estate articles for July 2020 was written by Karen and Chris Highland, with eXp Realty in Frederick MD. Chris and Karen have been helping people buy and sell residential real estate in and around Frederick, Maryland, for over 26 years.

“We’re passionate about educating consumers about the ins and outs of residential real estate and the local market, and equipping them with realistic expectations about the process of buying and selling a home.”