Posts Tagged selling your house
When Should I Sell my Property?
Posted by Top Home Loans in Economy, Mortgage Advice, Mortgage News, Real Estate on December 21, 2008
After years and years of a housing boom, making money in the market was easy. All you had to do to make money in the real estate is buy a house and live in it for a duration of time. It was not uncommon for people to double, triple, and quadruple their investments; however, times have now changes. Some lucky people were able to sell there houses at huge gains, but for the rest of us, we still have the investment. Did we miss out?
A Different Kind of Investment
There are many types of investments available. You could invest in stocks, bonds, T-bills, GICs, and all other types of investments; however, a property investment is the only investment that gives you a roof over your head, and a place for your family to live. You will always need a place to live, so your property investment serves two purposes for you. Some other considerations is that on this investment you have to pay other fees like property taxes, heating, hydro, etc.
If you can still sell your property at a good price, then it may be time to hang on to your property because it can retain value so well. If you are thinking of buying a new property, then you could sel your property and rent. This will effectively help you to find a new property without the fear of not being able to sell your house.
Your Home, Your Investment
As a homeowner, it is important to recognize that you are the owner of the home. Think of your house as a mini company, and that you want to keep your house as valuable as possible. You should make the required enhancements and repairs to keep your property retaining its market worth.
When looking at your property, you should understand that yo are a long term investor in the mortgage market. It is extremely difficult to time the market; however, it is extremely easy to make money if you stay in the market for a long time.
In these times, it is highly likely that you will move to different houses throughout the course of your life. The houses that you move to may be extremely different based on the market that you move to. Your standard of living may change drastically from location to location that you move to, so be prepared for a change to your living conditions if you do have to move.
When to Sell?
Whatever history has shown us about our current time period, one thing remains true. A house is where you live, and it is your most important investment. House prices may go up and may go down from time to time; however, this is the location you picked to raise your family and live.
Although, looking back you may think to yourself that you wish you would of sold, or at least downsized; however, as a property owner, you do not get the luxury of selling a portion of your house, or selling the whole house but continuing to live in it.
The actual best time to sell your house and make the most money is to never sell your house. By moving only when absolutely mandatory, you will save up to approximately 10% of your houses value each time that you decide against moving. You also benefit by the compounding in value that your house offers over the years. If you don’t sell, then you will pay your mortgage off dramatically faster as well.
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Real Estate Tips – How to Sell your Resale Home
Posted by Top Home Loans in Mortgage Advice, Mortgage News, Real Estate on December 20, 2008
In this day and age, the market has become extremely difficult for people to sell resale properties. It is crucial that you make all the right steps in order to be able to sell your house quickly and at a great price. There are several important things that you must do in order to make sure that you can sell your house at a great price.
Properly Appraising your Property
Today, price fluctuations on property happen daily. With any changes in the market, you could see your property value rise or fall thousands of dollars. It is important that you get your property properly appraised by a trained professional to know exactly what you will be able to sell your house for. Make sure that your realtor knows the strengths and weaknesses of your property and has properly analyzed your property and surrounding properties to be able to make a good case for the sale of your property. Make sure to scan the houses in your neighborhood that are up for sale. You may even want to undercut the property values in your neighborhood if you need to move quickly.
Marketing and your Realtor
Today, it is getting more and more difficult to sell real estate. There are less and less buyers and more and more sellers. Make sure that your realtor is able to do the things that need to be done in order to get the job done. Anyone can put up pictures or make a virtual tour; however, is your realtor going to take the extra steps for you?
Research your realtor and phone your realtor’s previous clients to see what results they have had dealing with the realtor. Make sure that they are able to create a price that is appropriate for the house that you are selling. Make sure that they advise you every step of the way of what to do, and make sure that they make the process easy for potential buyers to be able to view and buy your house.
Staging the House Properly
In this new age of real estate, the clients that will be coming to your house to view your property will be people who will want to live in your house. You will not be getting speculators or investors. You won’t be getting people that would like to ‘flip’ your house. Instead, you will be getting mostly family’s that are looking for a house to raise their family. Make sure that your realtor helps you to inform you on everything that they need fixed and follow our guide on how to properly stage your property.
You must make sure that your property has the curb appeal, so that when your potential buyers show up to see the property, that they immediately know that this is the house that they will be buying. Make sure that it has that feeling and that it is a house that even you would buy for yourself. If it does not feel that way, then there is something that you have not completed in order to make sure that it gives that kind of feel.
Talking about the Market
Today, housing prices have been going down over the past couple of years. When home buyers come to look at your property, they will want to confirm that the house value will not only stay at a reasonable price, but will also go up in value. They will want to ensure that the investment that they make in the property will be a good investment, o it is up to you and your real estate agent to be able to talk to your potential buyers and make sure that you can convince them to buy your property, and that it will be a sound investment.
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Guide to Selling Your House Part 2
Posted by Top Home Loans in Real Estate on October 14, 2008
When getting ready to place your house on the market, make sure you are acting like a business selling a product, and the people you are showing your house to are your potential clients. There are many things that you will have to do to make sure you get top dollar for your house, and by doing these not only will you sell quicker, but you will make more money for your house.
Examine the Walls
The wall quality is something that must be considered. The first impression of the buyer will be affected if there are cracks in the wall causing a negative appeal to your house. Make sure to address the following before showing your house:
- Replace all the old caulking. Make sure to remove the old caulk before applying the new caulk. Do not caulk over ventilation or drainage vents.
- Clean the siding of any dirt. A pressure cleaner can easily clean the sides to ensure a fresh look for your house. If there is damages to the siding, then you may want to consider the siding before selling.
- Stucco can be repaired; however, you may have to blend some areas of the Stucco to ensure new looking repairs.
- Look over the paint on all painted areas. If there is fading, cracking, or peeling surfaces, then you will need to repaint before placing the house up for sale. If you are hiring a painter, then make sure to compare painters before finalizing on one painter.
Does the Roof and Chimney Pass the Inspection?
To determine if your roof requires repairs, you can simply observe from the ground; however, if you want to be sure, then you can climb up to the roof to look around to verify. If there is damages to the roof, then you will want to hire a professional to complete the repairs. If the job is simple enough, then you may be able to complete it on your own; however, it is usually better to trust the professionals.
- Observe the overall condition of the roof. If there are damages similar to a sagging roof, pools of water, curving shingles, damaged shingles, or corrosion, then most likely there are serious damages to your roof and you should hire a professional to repair the roof.
- Roofs undergo weight stress, and over time, the trusses for the roof can become damaged causing the roof to dip. This should be repaired immediately to prevent the roof from caving in. This is a quick inexpensive repair.
- All chimneys require to be straight and structurally sound. They should be inspected every several years to ensure they are safe. They, also, must have certain covers to prevent leakages. Inspect the chimney to confirm that it is in good condition.
This section covers off the remainer of what to look for on the outside. In the next section of this article, we will continue with preparing the house for sale. We will take a closer look at getting the interior ready to sell, as well as passing the inspection. This is very important because this will be the part of the house that the buyer most remembers.