What are you waiting for? Inherent in ownership of real estate—a house, condominium unit, second home, investment property - is the reality that eventually it will be sold. Since there is no expiry date or "best before" restriction on real estate ownership, knowing when to sell can be a significant challenge for . Do you recognize your ownership style in any of those mentioned below?
Real estate investors use property comparison and number crunching to arrive at the ideal "when to sell" and reinvest their funds for maximum returns. Residential owners could do this too, but usually don't.
Recreational properties like cottages and ski chalets are often dispassionately sold when ownership is no longer practical and costs outweigh time used and benefits gained. Although similar realities may be true for residential real estate, emotional ties and community connections can overshadow practical issues.
Residential owners can make enlightened financial decisions or respond to lifestyle or work changes that dictate a move,
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Flipping a house means buying a home with the intention of fixing it up and selling it within six months for a profit. Americans flipped 26,947 single-family homes in Q3 2014, accounting for 4 percent of all home sales in that period, according to real estate data firm Realtytrac. The average gross return for investors was $75,990 per home, up 2 percent from Q2.
Flipping houses can be profitable, particularly when home values are rising and interest rates remain at historically low levels. The Federal Housing Administration stopped enforcing anti-flipping regulations—which prohibited insuring any home for less than 90 days—in 2010. If you're looking to get into the home flipping business, follow these four guidelines for the best chance of success.
Build a Bankroll
Everything in life requires money, and house flipping is no exception. You could take out loans to buy properties, but then you are just creating debt in the hopes of making money. A smart house flipper who wants to profit immediately and often will use his or her own money.
The best way to build a bankroll is by saving over time. Consider selling your own home if the proceeds will pay off the mortgage and leave you with enough to get started. Those currently receiving regular payments from a structured settlement or annuity can consider selling their future payments to a company like J.G. Wentworth for a lump sum of cash now. Make sacrifices like selling off an extra vehicle, disconnecting cable television and giving up the $5 lattes in the morning to pad your bankroll further.
Our innovative Home Selling System was developed to provide our clients with a consistent and proven method to prepare their homes for sale, price their homes appropriately and get the word out to as many prospective buyers as possible. The benefits of home selling system are a quicker sale at a higher price.
1. Price The most important step in selling your home is pricing it correctly from the onset. Its a well known fact that overpriced homes take longer to sell and usually sell for a lower price. Since the majority of your showings will occur in the first 30 days on the market it is crucial that your initial list price matches buyer expectations. Our agents are trained to use advanced market analysis software to build a comprehensive report that will accurately determine the optimal list price for your home. Request a detailed market analysis of your home.
2. Condition In order to get top dollar for your home you have to make your home look its best. Our agents are trained to help you identify and prioritize repairs and improvements that will provide the best return on your investment. Before your home goes on the market, we offer home staging to make every room in your home look its best.
3. Market Our Home Selling System was developed to provide our agents with a consistent and proven manner to get our listings in front of as many potential buyers as possible. Our reach is so extensive because we invest heavily in web, social networking, email, direct mail and print campaigns that feature our listings in all the places where buyers are looking. When you hire us to sell your home, we will identify your ideal buyer and then develop and implement a tailored home marketing program designed to reach them. Request a seller specialist today.
4. Negotiate Successfully negotiating a real estate contract is more than a matter of luck or natural talent. When you receive an offer having an agent with a proven track record of bringing buyers and sellers together can make a huge impact on your final sales price. Our home listing specialists are skilled negotiators who can help you get to the highest price a potential buyer is willing to pay, as well as the best terms, shortest contingencies, fewest repairs and lowest closing costs. Rather than approaching negotiations from an adversarial winner-take-all perspective, our agents focus on your top priorities and strive to keep emotions from over running the process.
5. Close While your home is on the market we will provide at least monthly status reports that show your top prospects, summary of feedback from your showings, a review of completed and planned marketing activities and any recommended adjustments to course. In order to keep tabs on your competition we setup a neighborhood alert system that will notify you and your agent as similar homes in your neighborhood come on the market, go under contract or sell. Once your home goes under contract we use our sophisticated online transaction management system to make sure the buyers, and their agent, follow through with their contractual obligations in a timely manner.
Mortgage lender Fannie Mae just made a move to make homeownership more affordable, and it's one of many things that can help you save some cash when buying a home. If you're not taking advantage of every money-saving opportunity out there - and there are a lot of them - you're just leaving money on the table.
1. Take advantage of new programs
The aforementioned Fannie Mae program "will now pay your closing costs, up to 3% of the price of the home—provided you take the mortgage giant's home-buyer counseling course first,"said Realtor.com. called the HomePath Ready Buyer program, it "allows first-time buyers (defined as those who have not owned a home in the past three years) to take an online course, get certified, and become eligible for what could amount to significant savings. For instance, on a $150,000 home, Fannie Mae could contribute up to $4,500 toward your closing costs—which typically range from 2.5% to 3% of a home's price."
2. Ask the seller to pay closing costs
In an appreciating market, you may have a hard time getting the seller to kick in—especially if they have other offers to consider. Make sure you ask your real estate agent for advice (and listen to it). You don't want to offend or amuse the seller into outright rejecting your offer.
3. Negotiate everything
Want the seller's refrigerator or dining room set? Ask for it. Could be that they're trying to get rid of them anyway