Whether you’re a buyer, seller, or investor, you need to stay current on real estate trends and market dynamics. To help you do just that, check out some of the best real estate articles of September 2021.
We have put together an excellent roundup from some of the top real estate experts around the country. Enjoy these helpful home buyer and seller resources.
Everyday Expenses When Buying a Home
When you are a first-time homebuyer, purchasing a home is a big deal. It is a significant step into becoming a grown-up. There are numerous financial responsibilities with owning a house. If you are not careful, you can quickly get yourself into a financial bind, especially when the economy changes course.
For this reason, buyers need to be educated on all of the housing expenses besides paying a mortgage. There are numerous other costs to be familiar with when you own a home. It is paramount to know about these costs so you can plan for them in advance. Doing so will put you in a much better position to keep your finances on track.
The Best Junk Removal Companies
A cluttered house is only attractive to rodents, not humans.
Ensure you have gotten rid of all junk from the property before listing it if you want to find a buyer quickly and make an attractive profit. You may not realize the amount of junk you have accumulated until you move or sell the property.
Also, garbage removal is necessary during a spring cleaning or renovation prep. Doing it yourself will not only be a long and tedious process but also overwhelming.
Consider hiring a professional junk removal company. You won’t have to lift a finger, and the job will be done to your satisfaction. However, ensure you have checked the reviews and rating of the company you pick to confirm it meets your needs and preferences.
Google can be a great help in finding a company nearby. Doing a search such as junk removal near me should give you some helpful results of local companies in this line of work. When hiring a junk removal company, make sure you look over their reviews.
Essential Home Repairs For Every New Homeowner
Holding the keys to your new home is one of the best feelings in the world, but it also comes with new responsibilities. You no longer have the option of calling a landlord whenever something stops working or needs replacement. However, regular home maintenance sessions can save you from dealing with significant or costly repairs and replacements.
Knowing the home repairs you should address promptly as a new homeowner is essential to prevent a bad situation from turning worse. Also, you should carry out a regular home inspection to identify potential issues that can worsen if not addressed promptly.
Don’t Invest Here as a Landlord
Laws exist to maintain order in society, but some have loopholes. In some cities and states, landlord-tenant laws deeply favor tenants with no protections for landlords.
The eviction moratorium should sound a wake-up call to landlords that regulation does threaten their returns. Avoid these cities and states with anti-landlord laws, which make it hard for investors to enforce their lease agreements and operate as a business.
It would help if you didn’t have to put up with the frustrations of tenants after spending hundreds of thousands of dollars to buy an investment property. Knowing the states that are landlord-friendly, tenant-friendly, or neutral allows you to choose wisely as a landlord.
Renting a PODS Moving Container
Do you know all the benefits of moving with PODS. Having a place to store your things temporarily can be an immense help when you are buying or selling a home. Sometimes the timing in a real estate transaction does not always work out.
This is where a temporary storage solution like PODS can really come in handy. Take a look at the things you need to know before moving with PODS. You will love the convenience of easy access to your things right from your front yard.
What to Know About USDA Loans
Are you considering a USDA loan? For those who are not familiar with this mortgage product, it is one of the few no down payment loans available. Yes, you read that correctly – there is no money down needed when getting this kind of loan.
There are, however, certain requirements about who the USDA loan will loan to. For example, the property needs to be in what’s considered a rural area. The population cannot be like a city to get a USDA mortgage. There are also some income guidelines to follow as well.
Have a look at all the pros and cons of using USDA financing in this insightful resource.
Why Do Home Closings Get Delayed?
Are you the type of person who likes to have everything in your life go as smoothly as possible? Most people do, right? One of the most stressful events in one’s life is the purchase of a home. Naturally, not every real estate transaction goes off without a hitch. Once you get an accepted offer, lots of unforeseen things can happen.
Sometimes in real estate, things happen. Real Estate agents like to refer to it as Murphy’s law. One of the most common occurrences is having the closing get delayed. Do you know why this commonly happens?
See some of the usual reasons a closing does not happen on time in this excellent article.
Writing Multiple Offers: What Are The Implications?
Buying a home isn’t just about having enough money for the deposit and other closing costs. The seller has to accept your offer before you can close the deal.
If many people are competing for the same property, it takes much more than your ability to pay for the property to convince the seller to pick you. That’s why some buyers resort to writing multiple offers on different properties. It is with the hope that one of the sellers accepts their offer.
There are many risks involved, like losing your money or even being sued. Additionally, the chances of losing a good home while buying time to see whether you’ll get your first choice are high. There are better ways to win the property of your dreams faster without taking unnecessary risks or using illegal means.
Here are even more downsides worth reviewing when writing offers on more than one property.
Do You Know Your Home’s Value?
Selling a property in a hot seller’s market is the dream of every real estate investor. Not only will the home sell quickly but also at a higher price.
However, this doesn’t mean buyers will be lining up to spend their hard-earned cash on a property that is clearly overpriced. Since they have to pay higher prices, they’ll be overcautious. Many buyers demand a home inspection and valuation before purchasing a home before committing. That’s why you should find out the true value of the property before listing it.
Overpricing your home is just as bad as underpricing it. Therefore, find out what your property is worth and use that as a reference to set the asking price. There are easy and free ways to determine your home’s value that you can take advantage of, especially if you are selling the property on your own.
Is Your Dream Home Overpriced?
With an increased demand for houses, the prices skyrocket. However, no one dreams of buying an overpriced property even if they have the money to pay the exaggerated price.
Buying an overpriced property means when the time to sell comes you are unlikely to make any profit from the sale. In fact, you may be forced to sell for less than the initial buying price just to secure a buyer. Consequently, even if you do make a profit, it will be by a small margin.
Thus, taking the time to determine whether the home you are buying is overpriced is imperative. There are various ways to do this, and some are easy and fast.
If you have hired a real estate agent, they will handle this for you. Either way, you shouldn’t buy a property you haven’t done due diligence on as far as the true value vs asking price goes. Given how expensive the investment is, it’s better to wait and get all the details than to rush and regret later.
Millennials’ Housing Needs
Millennials have long been blamed for their poor work ethic and their obsession with technology. Perhaps the real problem lay in other generations not taking the time to understand them.
Now in their 30s, many millennials are looking to buy their first home, and professionals in the real estate field cannot afford to ignore or dismiss them if they want their business. Many don’t conform to the traditional family structure. Understanding what millennials want in the housing market should start with listening to their housing concerns. Knowing what they love and how to market to them is the easiest way to win them over.
Selling an Occupied Rental Property
You’ll have to follow a different set of rules when selling a rental property with sitting tenants. But that doesn’t mean you can’t do it.
Understanding the pros and cons as well as how to complete the sale without breaking any laws is essential. Also, knowing when to sell can help you make a significant profit.
Like selling any other property, it would be better to sell when the market is hot, and you stand to make the highest profit. You can even leverage sitting tenants to sell the house at a higher price. Nonetheless, you don’t have to wait for a seller’s market if you sell for financial or personal reasons. It may make more sense to sell immediately, depending on your current situation.
Either way, being conversant with the protocols of selling an occupied rental property is crucial.
Do You Know HOAs Can Ban These?
One benefit of owning a home is deciding what you can or cannot do while on your property.
However, this is not always the case if you live in a neighborhood with a homeowner association. Their rules can prove beneficial in creating and upholding community values to ensure a certain standard of living. Nevertheless, often the rules feel unreasonable and overbearing. You may not give the rules much thought until you want to do something that is restricted.
Going through the comprehensive HOA bylaws before purchasing the property will allow you to decide whether the community will work for you or not before you commit.
Beware that HOAs can restrict behaviors like overnight guests, pets, Airbnb guests, and even where you pack and when to take out your trash. Read between the lines and take your time to determine whether you are okay living by the rules. You should live in an environment you are comfortable in hence the reason why you should pick a neighborhood that doesn’t feel restrictive.
Previous Real Estate Roundups
- Best Real Estate articles August 2021 – See some of the most helpful articles for buyers and sellers published in August.
- Best Real Estate articles July 2021 – Get more excellent buying and selling advice from top real estate experts.
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.