Sell Your House Fast And In Any Condition

In an article published by Eric Snyder in Nashville Business Journals, it mentioned about Nashville home sales hit hard by COVID-19, slowing the economy, raising uncertainty about what’s still to come. Check out the article below to find out more.

Nashville home sales hit hard by Covid-19

Nashville-area home sales fell by 17% in April, as Covid-19 slowed the economy and raised uncertainty about what’s still to come.

According to new data from the Greater Nashville Realtors, 2,887 closings were reported last month, down from 3,479 closings in April 2019.

“What’s important to keep in mind is the reduction in total sales, the Greater Nashville area is doing much better than other markets which have seen sales plummet during this time,” Greater Nashville Realtors President Kristy Hairston said in a news release. “Locally, consumers are still buying and selling homes, which is evident in 3,050 pending closings for May, which is promising.” 

That said, there were 20% more sales pending at this time a year ago, which suggests sales may again be down substantially in May, though it remains to be seen how much that could be offset as counties loosen their restrictions imposed to combat Covid-19.

“We will continue to monitor pending sales as they dictate how many active buyers and sellers are engaging in the market despite job uncertainty in local businesses and out-of-state relocations due to traveling restrictions in some areas,” Hairston said.

Single-family homes sold for a median price of $330,000 in April, up from $306,970 a year ago. Condo units sold for a median price of $228,500, down slightly from $229,990.

Hairston concluded: “While we have seen market factors temporarily decrease because of the effects of storms and Covid-19, what is promising is days on the market are decreasing while home sale prices are increasing in many areas. For the first time in a few weeks, we have seen an uptick in showings of homes within various areas and price ranges. Based on these factors, when we move towards a new normal, all indicators point to a market rebound later this year.” Read more about this article here…

This data is expected by some real estate experts in Nashville for a lot of home buyers opted not to go out due to fears of getting infected with the virus. Home sales dropped 17% in April alone.
However, this drop has minimal effect on the city’s housing market as overall, the Greater Nashville area is doing a great job than the other markets. With people slowly adjusting to the “new normal” these numbers are expected to increase as home buyers, sellers and investors resume their activities fueling the real estate market.

This finding about Nashville’s real estate market falling significant numbers was also confirmed in an article published by Erica Francis in WKRN.com which also mentions the possible trouble COVID-19 could cause to the city’s commercial real estate market.

COVID-19 could cause trouble for Nashville’s commercial real estate market

NASHVILLE, Tenn. (WKRN) — As the work from home experiment wages on, some say, it’s here to stay. It comes after social media giant, Twitter announced employees can work from home indefinitely if they so choose.

If and when other companies follow suit, this could mean trouble for Tennessee’s commercial real estate industry.

​​”I think what we’ll see is a lot of employers who were hesitant to go with work from home, they’ll say ‘hey this isn’t so bad,’ so I don’t invasion anyone getting rid of their offices but I can see the potential of them reducing the size of their offices,” said Ryan Turbeville, Director of Commercial Real Estate at the Ashton Real Estate Group​.

​​​There is some speculation within the development community that this will result in less office demand since more people may be able to successfully work from home, according to Ben Rooke, Regional Vice President of Brasfield & Gorrie, LLC.

Rooke said office buildings, multi-family, and hospitality projects that were being planned before the pandemic is almost all paused and that there is a “wait and see” attitude for what happens with demand and financing.

​”All of that buzz out in the market has kind of stopped, ceased all together right now,” said Rooke, “It’s hard to see through the fog.” ​

Rooke said most projects that are in progress have continued, with slight adjustments due to social distancing and health screening. Full article was published here…

With companies now transitioning to a work-from-home set up to some of their employees, it could have some negative effect on the commercial real estate market not just in Nashville, but in the entire state of Tennessee. This set-up badly affects commercial real estate properties such as office spaces for it means fewer demands of these spaces. Also, projects related to office spaces that have not yet started are now put on hold, while those that are in progress have continued with slight adjustments to deadlines.

In a recent article published by AJ Abell at Fox 17 Nashville, Nashville housing market in general, remains very hot despite pandemic hitting economies and housing markets worldwide. Read the article below to find out more.

Nashville housing market still hot despite coronavirus hit

The housing market has slowed down because of the pandemic, that’s been very clear.

The National Association of Realtors says, nationally, home sales have dropped about 18 percent in April. But in Middle Tennessee it’s a bit of a different story.

Local Realtor Craig Edwards says they don’t have enough houses to sell, meaning the demand is much greater than the supply.

“If it goes on the market, it goes away,” he says. “In Williamson County the average time on the market is 38 days. And that also includes some very high-priced homes that typically stay on the market much, much longer.”

Edwards says homes in the $250,000 – $350,000 range will stay on the market for only about a week.

In April, there were 377 closings in Williamson County, which is about 100 fewer than this time last year. But in Davidson County, he says there were still 929 closings just in that one month.

“The inventory is so low, but Nashville is still growing through all of this which really has kept that market afloat.”

Edwards says most tours have been virtual, which poses plenty of new challenges, but people are still taking advantage of the record low interest rates during this pandemic. Plus, he says homes are still appreciating by about 3 to 4 percent.

Nationally, some are re-thinking their lives in big cities like New York and are moving out, but Edwards says some of those people are moving to Nashville and creating some of the demand in the city.

Edwards does, however, believe some Nashvillians will move out to the suburbs because of this outbreak. Read full article here

With the Nashville housing market remains to be resilient despite COVID-19, this can be seen as a welcoming sign in the coming months. With people starting to live their normal lives, buyers, sellers, and investors will start to pick up what they have left off. This pandemic has also created a demand for homes in the city as people living in big cities are moving to Nashville.

Despite current inventory remains on the low, Nashville’s housing market is still growing, which kept the market afloat. A lot of real estate experts see this as an opportunity for home selling, especially these times of pandemic and a lot of people lost their employment.

If you need some professional help in selling your property for some quick cash during COVID-19, Dependable Homebuyers can help you sell your house fast as-is for quick cash. Visit https://www.dependablehomebuyers.com/sell-your-house/ and let the experts handle it for you.

Learn How House Flipping Works

As mentioned, house flipping is a profitable type of real estate investment with the huge potential to earn a profit. However, if you aspire to become house flipper, a huge amount of capital is also needed to purchase a house to flip. 

If capital isn’t a problem at all then you’re ready for the next step, otherwise, you need some form of financing to sustain your aspiration of flipping a house. There are several options to do this, and Lending Home wrote some helpful tips in getting financing for house flipping. Read more below to learn more.

How to Get Financing for Flipping Houses

So you’ve found the house you want to flip, and now it’s time to make an offer on the property. In this piece, we’ll go over your options and how to decide which one is the best fit for your deal and your business. We’ll do a pro and con analysis of the following:

Cash

Once upon a time, an investor proclaimed “cash is king.” And, depending on the circumstances of your deal and your plans to flip other houses in the immediate or near future, cash might be the best option. If you have the cash reserves to buy a property in full, here are some things to consider:

Pros:

Speed. turnaround time from the property belonging to the owner to the property belonging to you. Remember, if you need to close fast and have the cash, you can refinance later and pull most of your equity out of the property.

Inexpensive. Taking out fix and flip loans incurs borrowing costs. There are often application fees and origination fees upfront, and then monthly interest payments for the duration of the loan. Buying in cash means avoiding these costs, which helps your margins.

Ease. Borrowing money can be a time-intensive and often painstaking process. Loan applications will often require you to send in lots of documentation, such as bank statements, tax returns, and other personal info that may be difficult to gather in a timely manner. Also, have you ever used a fax machine? It’s no fun. Many lenders, especially mortgage lenders, are still highly dependent on outdated systems.

Cons:

Capacity. Houses are not cheap—the median cost of an American house is around $200,000. Not many people have cash reserves that large.

Private Money

Ever asked your friend for 20 bucks? Then you’ve experienced what it’s like to borrow from a private money lender. If you opt not to buy in cash, and you have private financiers in your network with the necessary funds, this could be the route for you. We’ll split private money lenders into two categories: private lenders and friends and family.

Private Money: Private Lenders

When we say “private lenders” we are referring to third parties whom you may not necessarily have a close relationship with. These are financiers in your network that are not official corporations and therefore are not regulated in the same way that banks or hard money lenders are. These lenders may offer you funding on a deal-by-deal basis, or offer you access to a line of credit. Learn more about this story here…

As mentioned in the above article, there are several ways for aspiring house flippers to get financing for their house flipping, with each way has its pros, cons, and risks. Choosing the best financing that suits you based on its pros and cons is your decision to take. Also, if you don’t have cash then financing through loans is your option.

Priyanka Prakash of Fundera explains further the best options for the fix and flip loans. There are several best options for it as well. Read the article below to learn more.

Fix and Flip Loans: The 8 Best Options

Researchers from Attom Data found that house flippers renovated more than 200,000 homes in 2017, with an average profit of $68,143 per property. That’s a lot of houses—and a lot of money. Despite the popularity of house flipping, the biggest barrier to entry and success in this space is cash. Without enough money, you can’t purchase the home, pay for renovations, or find a buyer for the property when the time comes to sell.

Fortunately, there are multiple options for fix and flip funding, allowing you to quickly purchase your property and get your project underway. Even with your first flip or your 50th, you can use fix and flip funding options to add to your portfolio and grow your business as a real estate investor.

Here’s what you need to know about eight creative fix and flip loans, how to choose the best one for you, and what to do before approaching a lender. We’ve also included info from house flippers who’ve successfully gotten funding for flipping houses to grow their own real estate businesses.

An Introduction to Fix and Flip Loans

Every house flip starts with actually finding the property. We’re not here to talk about that, but read this link on how to find a house to flip if you’re not quite sure where to start. Once you find the property, you’re left with figuring out how to find funding for your flip.

And unless you’re independently wealthy, you’ll have to borrow money to finance four parts of your house flip:

1. The purchase price of the house (you’ll need to bring 20% to 45% of the purchase price as a down payment depending on the lender)
2. The “holding cost” of the home (e.g. insurance payments, HOA fees, and other costs of owning the home while renovations are underway)
3. Materials and labor for the renovation
4. Realtor costs and closing costs to find a buyer and sell the property post-renovation

The first thing you should know before searching for funding for flipping is that getting traditional bank loans for fix and flip projects usually isn’t the best route.

As a house flipper, you’re essentially a real estate investor, and your income can be seasonal and irregular. So, most banks won’t give you a business loan for fixing and flipping properties. And even if a bank is willing to work with you, their loan product might not be suitable. Bank loans are generally long-term loans—and most flippers buy, renovate, and sell a property within a few months. See full post here…

Each of these options has its pros and cons, so for first-time house flipper, it is crucial to study and understand everything before deciding on the loans you will take. Once you have the money, you may then start with house flipping.

The last important thing to remember is that not all loans for house flipping works. Some loans work and some loans do not work. Justin Pritchard explains further the loans for flipping houses in his article at The Balance. Check out his article below.

Loans for Flipping Houses: What Works and What Doesn’t

A house flipping business can provide a healthy income and the opportunity to change careers. Based on popular television shows, it seems easy to do, and you don’t need to spend years in an expensive education program to be successful.

Unfortunately, it’s not as easy as it looks. Proper planning and technical know-how are essential, but the greatest roadblock is probably funding — it takes money to make money. So how do you get the money?

Private investors, including people you know and hard money lenders, are the best source of loans for flipping houses. Those lenders do not require the same amount of time and paperwork as traditional banks. Instead, they evaluate the property itself (both before and after improvements) and your ability to successfully complete the project.

Mortgage Loans for Flipping a House?

Traditional home loans will probably not be an option for buying investment properties — at least when you’re starting out.

The good news is that loans from banks and traditional lenders are relatively inexpensive: interest rates are among the lowest you’ll find for investment properties (but you’ll still have to pay closing costs). Unfortunately, these loans are not always practical.

Slow to Close

One of the main challenges with using a traditional lender is the time it takes to close a loan. Lenders require that you fill out an extensive application, and they’ll go through your finances with a fine-toothed comb. If they see anything that raises questions, they’ll ask for more documentation, and they’ll take even more time to review your application. The process rarely takes less than 30 days (45 or 90 days might be more realistic), and investment opportunities often move too fast for that timeline.

Especially if foreclosures or short sales are part of your strategy, you’re likely to be frustrated by the speed of traditional lenders.

Evaluating Income

Traditional lenders base their lending decisions on your ability to repay a loan. They’ll look at how much you earn each month compared to required monthly loan payments to calculate a debt to income ratio. If you’re a real estate investor or otherwise self-employed, you might not have the type of “income” they’re looking for (lenders like to see W-2 forms and pay stubs). Learn more here…

Financing house flipping has lots of dos and don’ts that every aspiring house flippers must take into consideration before diving into the loans. Read and understand every term to avoid getting into a debt trap in case you won’t become successful in your first couple of tries flipping houses.

One key factor in house flipping is being able to sell houses fast. If you don’t know how to sell a house fast, we at Dependable Homebuyers can help you. To learn more, visit https://www.dependablehomebuyers.com/sell-your-house/

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247

The world was badly devastated by the recent Covid-19 pandemic. All sectors were not spared to its effect economically and financially – including the real estate market. Now that the world is starting to recover from the effects of the recent pandemic, it’s about time we go through the current real estate market conditions in the city of Baltimore as well as the quantifying the extent of COVID-19 effect to the city’s housing market.

Sell Your House Fast Any Condition

Just as everyone else expected, the housing market in Baltimore remains flat in April and May where the COVID-19 pandemic is at its peak as far as the number of infected is concerned. Melody Simmons of Bizjournals.com wrote an interesting article that discussed the recent April home listing hitting a 10-year low in the Baltimore area as part of the COVID-19 effect in the real estate market. Check out the article below and find out more about this not so good news.

Baltimore-area April home listings hit 10-year low

A pause in the residential market last month blamed on Covid-19 led to a 10-year low in new listings around the Baltimore metro area, a new report showed.

The report used data provided by MarketStats by ShowingTime. It is based on listing activity from Bright MLS and showed that sellers impacted by the novel coronavirus declined to put their homes on the market, creating the highest year-over-year decline in 10 years.

“In April, the area felt the effect of COVID-19 related stay-at-home and social distancing orders put in place during late March,” the report said. “Potential new sellers opted to pause putting their homes on the market.”

The strain on listings, though, had a boomerang effect on sales prices, the data showed. The narrow supply of homes resulted in a boost to the median sales price for a home in the Baltimore metro area to $300,000 — the highest in a decade. By comparison, last year’s median sales price during April was $275,000 and that figure for the same month in 2019 was $267,900.

The data reflected a national trend in the residential housing market as the Covid-19 pandemic continues to impact local and state economies and everyday life. Similar home sale data has been reported across the U.S. as in-person home tours have all but ground to a halt and most potential buyers are sheltering in place rather than seeking to move.

Bright MLS officials said that could reverse in the coming months as those stay-at-home orders are lifted and interest rates remain at record lows.

“While sellers are holding off listing, they still desire to enter the market when social distancing regulations relax, indicating a future surge in properties for sale,” the agency said. Read full article here…

The COVID-19 pandemic has prompted the real estate market to pause, which resulted in a whopping 10-year low primarily in new listings around the Baltimore area. This is expected as both the local and state economies still suffering from the effects of the pandemic, causing potential home buyers are forced to stay inside their homes than going out. However, things could get better as the country is slowly recovering from the pandemic, economies and the housing market starts to normalize.

Also in an article published by Hallie Miller of The Baltimore Sun, the city of Baltimore saw a decade-low volume of new home listings amid COVID-19. Read the article below to find out more.

Baltimore region housing market sees decade-low volume of new listings amid coronavirus, but there are glimmers of hope

Baltimore’s real estate market slowed dramatically in April as the coronavirus pandemic continued to disrupt the normal behavior of the state’s economy — and potential sellers and buyers

The number of homes sold last month fell to a five-year low, while new listings of homes for sale plunged to a 10-year low, according to new data. However, the data published Tuesday by Bright MLS also shows that local homebuyers have laid claim to much of the available housing inventory, a phenomenon that experts and real estate professionals said gives them confidence the market will rebound quickly once Maryland begins to ease its stay-at-home restrictions.

Just over 3,000 homes sold in the Baltimore region, which includes the city and Anne Arundel, Baltimore, Carroll, Harford and Howard counties, the MLS data shows. That’s the lowest level for April since 2015.

New listings in the region stood at 3,628, the fewest in a decade for April, which is a prime month for putting homes on the market.

But, with less inventory to choose from, buyers were bidding properties up and moving more quickly. The region’s median sales price jumped by $25,000 to reach $300,000 in April, the highest for that month in the past 10 years, the MLS data shows. Meanwhile, many homes were sold in less than two weeks as the median number of days on the market dropped to 12 days in April from 27 a year ago.

“What’s out there is selling, and selling at a good price,” said Chris Finnegan, a spokesman for Bright MLS, which represents thousands of real estate professionals in the Mid-Atlantic region. “People are just not as apt to put their stuff out there during this window.” Amid the unpredictable financial climate, potential clients are more risk-averse, whether to attempt to sell or buy a home. Either requires interaction with others outside their immediate family, whether it’s having strangers tour your home or touring someone else’s home. Read full article here…

While home listings saw a decade low in numbers, real estate market experts see some glimmers of hope as during this time of the pandemic, potential clients are more risk-averse regardless of they are buying or selling a home. New data also claims that Baltimore’s local homebuyers have laid claim to a handful of available housing inventory, and this data gives confidence to real estate market experts that the housing market will surely bounce back.

While real estate professionals in Baltimore are optimistic that the local real estate market will bounce back, U.S home prices on the other hand continue to rise as the real estate market continues its slow recovery from COVID-19. Pete Catapano of Mansion Global digs deeper into this development.

U.S. Home Prices Rise as Real Estate Market Continues Its Slow Recovery From Covid-19

The U.S. real estate market is emerging from its spring nadir brought on by the coronavirus pandemic, as prices rise and inventory slowly rebounds, according to realtor.com’s monthly housing trends report released Thursday.

Amid decreasing inventory and miniscule price growth, the overall housing market reached a low point in mid-April, the report said, only to see the median listing price surge to a record of $330,000 in May. Year-over-year that marked a 1.6% increase.

“May’s home price data demonstrate the underlying strength of the U.S. housing market despite the challenges brought by the Covid-19 pandemic,” realtor.com’s chief economist, Danielle Hale, said in the report.
“The fact that home prices are at an all-time high shows that the momentum the market had prior to the pandemic has helped to keep buyer and seller expectations stable. Ongoing inventory shortages, that continue to worsen, also push home prices higher even while homes sell more slowly,” she said.

The areas with the highest annual median price growth in May were Los Angeles-Long Beach-Anaheim, California (+14.9%) and Pittsburgh (+14%).

Though the price increases are bringing a semblance of stability to the real estate market, many cities have been hammered by a dearth of available properties.

Metro areas that saw the biggest declines in active listings year over year in May were East Coast regions hit hardest by the coronavirus, The top three are: the region encompassing Philadelphia; Camden, New Jersey; Wilmington, Delaware and parts of Maryland (-38.6%); Providence-Warwick, Rhode Island and parts of southern Massachusetts (-35.8%); and Baltimore-Columbia-Towson in Maryland (-34.5%). Click here to read more…

With people throughout the country are forced to leave their homes, the demand for home buying and selling tremendously dropped, which resulted into rising in home prices Though the price increases are bringing a semblance of stability to the real estate market, many cities have been hammered by a dearth of available properties. Until things start to normalize as far as the movement of people is concerned, these numbers will not show significant changes.

With home prices on the rise, it is a good time to sell your house fast for quick cash. If you don’t know how to it during these times, Dependable Homebuyers can help you sell your house fast by finding the right buyer for your property. To learn more, check out this link https://www.dependablehomebuyers.com/sell-your-house/ and let’s get started.

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247

Learn How To Sell Your House Fast And Make Quick Cash

Whether you are novice of seasoned property investor, you need to listen to what the experts tips on how to sell your property investment. Sibei Mi of Lending Home wrote the most effective home selling tips for property investors to preserve their capital and fully maximize their profitability.

8 Home Selling Tips for Property Investors

You’ve found, bought, and successfully renovated a property. What now? Let’s walk through 8 tips on how to sell your fix-and-flip property.

You have found the right investment property to purchase, determined the home improvements and repairs to make that add the most value, and successfully renovated the property. So now your house flip is done, right? Not so fast. You still need to sell the rehabbed property for more than your purchase price and combined costs.

Presenting an impressive property is one of the best ways to secure a potentially fast and profitable flip. But before putting the house on the market, you still have some work to do to increase the chances of a fast and profitable transaction. Start off by preparing the relevant paperwork about your property, which includes the property title deeds, mortgage and financing documents, tax and insurance records, inspection reports, etc. You will also need to hire a good real estate agent to market your property and bring in potential buyers.

Keep in mind that the longer your house sits on the market, the more soft costs you continue to pay. Luckily, the preparations you make before the sale could reduce the property’s time on the market and increase your potential profit at closing.

Here are 8 actionable home selling tips you can follow today to find the right buyer for your property:

1. Determine potential profit

Before listing your property for sale and even before rehabbing, get an estimate of the after repair value and potential profit so you know what to potentially expect. Consider:

• The amount you owe on the hard money loan or any other sources from which you have acquired financing. Remember that the longer you hold the property, the more you will have to pay.
• The tax basis for your property. Speak with your financial advisor or accountant to help you determine how much you are going to owe in taxes.
• The closing costs you would be responsible for during the sales process, which could include but is not limited to a Realtor commission, realty transfer tax, recording fee, and attorney fee.
• The estimated market value of the property, based on the comparable properties that were sold in your neighborhood in the past 6 months to a year.

2. Price it right from the outset

Some sellers may contend they should start with a high asking price and then lower it later in case the house does not sell. However, that could delay the sale – at times, even at a much lower price.

“The initial thirty days’ activity of your home being on the real estate market is often the best activity you will see,” says Michael Mahon, GM of HER Realtors, the largest agent-owned real estate firm in the United States. If you price your home too high, most buyers, as well as their agents, may stay away and assume that you are not willing to negotiate or are not serious about selling your property. That’s why pricing your home right from the start is imperative if you want to sell your home fast.  See full post here…

When it comes to selling the property, the first thing you must determine if the potential profit of the property. That means before thinking of listing your house or do some repair works, get an estimate of the after repair value and the potential profit. Follow the experts’ tips above and you’re good to go.

Cathie Ericson of Realtor.com also listed the best tips on how to sell an investment property and make a killing out of it. There are several ways to maximize profit potential in selling a property.

How to Sell an Investment Property and Make a Killing

An investment property, by definition, is a place with one simple goal: to make money. So if you want to learn how to sell an investment property, we’d wager that maximizing those profits is likely your top priority.

In many ways, the steps to selling an investment property are the same as selling a home where you live: You hire a listing agent who will market your property on realtor.com® and start bringing in potential buyers. Still, since investment properties operate under different rules taxwise than a home where you live, you’ll want to ask certain questions.

Here are the factors to consider—plus the fun part: how much money you could stand to make.

Should I sell my investment property?

First things first: Are you sure you want to sell? Because there are other options that could drum up income—steady income—such as renting it out.

Whitney Nicely, principal broker with Whitney Buys Houses in Knoxville, TN, has more of a buy-and-hold mindset. “It’s silly to sell the one you have unless you have a really good reason,” Nicely says. So yes, there are valid reasons to sell, but you should make sure yours make the cut:

• The neighborhood is changing. If the hood is hot, and you’ve made a pile of cash, it could be a good time to take your money and run. Conversely, if a neighborhood is deteriorating, you might want to get out before it falls too far. “Even if you end up only breaking even on your property, at least you won’t lose money if the market continues to dive,” Nicely says.
• The property needs massive repairs. Maybe you’re looking at a foundation or roof that needs overhauling, or another big-ticket expense on a rental house. Or, a condo you’ve invested in is due for a major assessment. “If substantial repair work is needed, or you just don’t want to put the energy into it, it is likely a good time to move on,” says broker Jared LaFrenais of Douglas Elliman in New York. However, you need to disclose these issues and will likely figure them into the price notes.
• It’s a tax liability. Owning property, even as an investment, can bump you up a tax bracket. That’s a good reason to sell, especially if you have no interest in being a landlord. You also should take note of potential expiration of tax abatements, notes LaFrenais. “If, for example, your investment is a condominium in which you generate a rental income, the expiration of an abatement and the resulting tax increase will impact your finances, so consider the advantages to selling before this occurs.”

Click here to read the rest of this post…

The ultimate goal of investing in real estate if of course to make money. So when selling the property, always prioritize how to maximize those profits. You may hire an agent, or do the selling alone. Also before selling, make sure to fully understand the purpose of you being invested in the real estate market.

Especially for first time home sellers, the pressure of making a profit is really big. Elizabeth Weintraub of The Balance made some very helpful tips in selling a property for the first time. Read the article below to learn more.

Real Estate Tips for a First-Time Home Seller

Homeowners don’t generally think about filling the shoes of a first-time home seller until they decide to buy a new home. Usually, the motivating factor is the need to move — due to work-related issues or the needs of a growing family — and that generally involves buying another house.

It’s when the homeowners stop to consider the move that it may dawn on them, yes, because they need to sell, they are now a first-time home seller. Selling a home is very different from buying a home. Whereas buying a home generally involves emotions and feelings, selling a home typically centers on what listing agents like to call maximizing profit potential.

Price Your Home Accurately

Price your home accurately. For this, you should enlist the help of a reputable listing agent. Don’t choose your cousin’s sister-in-law, for example, who dabbles in real estate. You’ll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighborhood.

Your agent will analyze comparable sales and prepare an estimate of value often called a CMA, for comparative market analysis. It is OK to compare the Zestimate at Zillow but note the variances your agent will point out because your listing agent should have the experience and education to provide you with a more accurate opinion of value.

Home Staging Boosts Selling Power and Appeal

Ask your agent to advise you on preparing your home for sale. Most homes show better with about half of the furniture removed. If a buyer walks in the door and wonders if anybody lives in the house, you’ve done your job correctly. Consider home staging to boost your selling power and appeal. Painting is the single most effective improvement you can make. Don’t let dings in the woodwork or scraps on the walls make your home reflect deferred maintenance. Click here to read the rest of this post…

While the goal of real estate investing is to make a profit, one wrong move in selling the property could lead to profitability getting burned as well as the capital. Home selling isn’t an easy task. There are several conditions you need to follow or think in order to get the best deals available while fully maximizing profitability.

If you’re a novice and don’t have the experience in selling property, Dependable Homebuyers can give you the best advice you can get in the real estate selling world. To learn more, visit https://www.dependablehomebuyers.com/sell-your-house/ and we look forward to hearing from you.

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247

We Buy Houses in Baltimore, MD

There are also struggles entry-level homebuyers are facing, and John McManus wrote about this in his article published in Builder Online. Read the article below to know more.

The Real Data on Entry-Level Home Buying Affordability

It’s not only what you look at in monthly payment calculations vs. household income trends–it’s what time period you pick to study the relationship.

Type the term “affordable housing” into Google and 87.6 million or more results will come up in the search.

A day doesn’t go by that we don’t see, hear, talk about affordability, or the lack of it, when it comes to housing rents, prices, trends, etc. Especially at a moment where economic, regulatory, tax, capital flow, demographic, and cultural shifts are playing out, looking ahead at whether this year’s bets on residential real estate investment will pay off as expected or not is cause for high anxiety.

The National Association of Home Builders observes that in 2017, its measures of home purchase affordability ran flat with the prior year, meaning that slightly fewer than six in 10 home sales–new and existing–were affordable to households earning the nation’s median income of $68,000.

Those measures precede, however, the real effects that rising interest rates, lost tax benefits, and higher prices due to global trade dislocation and other factors can have on monthly payments.

What’s more, although household incomes have been rumored to be gaining momentum, what’s going into people’s paycheck hasn’t reflected much of a boost compared with spiraling house prices.

Zelman analysts acknowledge genuine and material widening in the gap that separates recent trends in monthly payment calculations and household income growth, and they also note that mortgage financing costs are still rising, which might further expand that gap.

However, when it comes to conjecture on what factors may wind up influencing entry-level buyer behavior and trends in the months ahead, the Zelman take adds a critical filter of rigor to the data and what it’s measuring. See full post here…

It is currently the actual cost of the house that makes entry-level homebuyers more conservative. Also, housing affordability has declined, which means average income earners currently can’t afford to buy a house during these times. Other options such as rent prices trend also increasing.

Last year was also a bad year for first-time homebuyers. Jen A. Miller wrote about this story in her article at The New York Times. There are several underlying reasons why it happens. Read the article below to learn more.

2018: A Tough Year for First-Time Buyers

Tax law changes, low inventory and tight credit may present extra hurdles this year for people buying their first homes.

Taking the step to buy your first home may feel like a leap — across a canyon. You will probably be spending more money at once than you have ever spent in your life, and committing to spend even more money that you don’t have, all while becoming responsible for something that won’t necessarily love you back.

To make matters worse, 2018 presents a new set of problems for rookie home buyers: a new tax law whose full effects have yet to be felt on homeowner taxes or property values; record low inventory; tough credit; and rising mortgage rates.

So should you make that leap?

What Will the New Tax Law Do to Home Values?

How the new Republican tax plan approved late last year will affect housing isn’t completely clear yet, but buying a home in 2018 will likely become more expensive, especially for buyers who live in high-tax states. Taxpayers used to be able to deduct all of their state and local taxes, including property taxes, state income taxes and city income taxes, from their federal taxes. Now those deductions are capped at $10,000 — and at $5,000 for married taxpayers filing separately.

In New Jersey, for example, the average 2017 property tax bill was $8,690 across the state, according to the New Jersey Department of Community Affairs, and more than $11,000 in counties that make up the suburbs of New York City. Those homeowners are likely to blow past the new deduction cap before they’re even done with their property taxes.

At the same time, the standard deduction has been raised to $12,000 for single filers and married people filing separately, $18,000 for a head of household and $24,000 for married couples filing jointly. So in 2018, it may make more sense for taxpayers to take the standard deduction instead of itemizing and taking the state and local tax deduction.

For taxpayers who decide to continue itemizing instead of taking the higher standard deduction, the cap on how much of those taxes can be deducted will no doubt hurt, said Sheila Brandenberg, a C.P.A. who serves on the personal finance planning committee for the New York State Society of C.P.A.s. “For most of my clients, those two numbers were over $10,000 when you added them together. They’re losing that benefit,” she said. Read the entire article here…

Among the reasons why the housing market was terrible for first-time homebuyers is tax law changes, low inventory as well as tight credits which also added to the difficulty of buying a house for entry-level buyers as well as average income earners. 2018 was true, a bad year for entry-level homebuyers.

We know for a fact that last year was not the year for first-time homebuyers, it’s time to find out if this year’s trend favors entry levels. Brenda Richardson wrote at Forbes.com about some cheat sheet for first time home buyers in today’s housing market.

A Cheat Sheet For First-Time Home Buyers In Today’s Tight Market

In today’s housing market where affordable single-family homes are difficult to come by, potential first-time buyers have been forced to make compromises in how they shop for a home and what’s on their wish list to make their homeownership dreams a reality.

The 2019 NerdWallet Home Buyer Report finds that 36% of Americans plan to buy a home in the next five years. Of them, 24% say they’ll be making the purchase within the next 12 months.

The report examines the compromises and ways first-time buyers could save money. Here are some key findings from the report based on a new online survey conducted by The Harris Poll in January.

Upping the ante. Nearly half (45%) of Americans who have purchased a home in the last five years offered more than the asking price before having their offers accepted. NerdWallet home expert Holden Lewis attributes this to stiff competition in a sellers market.

“When we looked at the people who bought homes in the last five years, people who were first timers and the people who were repeat buyers, we found that first-time home buyers made more offers before finally having one accepted,” said Lewis. “For all buyers, the average was three offers before an offer was finally accepted, and that might be for one house or they made offers for more than one. But for first timers, they made nearly four offers before having one accepted.”

First-time home buyers are likely to be younger and on a leaner budget. Those with less to spend stand to feel squeezed more.

“They might be low-balling in their first offer in a market in which that is not really the way to do it,” said Lewis. “I think a bigger part does not have that much to do with inexperience. When you’re buying an entry-level home, it’s tougher. There are more buyers, there’s more competition, and therefore, you’re going to have to make more offers on average.” Click here to read the rest of this post…

Despite being in a housing market not favoring entry-level home buyers, they can still find their way in this tight market. Experts also found out that first-time homebuyers made more offers before finally having one accepted. Also, they are likely to be much younger and have a tighter budget.

First-time homebuyers still have the option to own a house despite their lean budget. Some are selling their house fast and at a discount for various reasons. If you are one of those who see this as an opportunity to earn money by selling your property, Dependable Homebuyers can help you find the right buyer for your property.

There are a lot of first-time homebuyers in the market, and we can find the right buyer for you. To get started, visit https://www.dependablehomebuyers.com/sell-your-house/ and we look forward to hearing from you.

Know The Best and Worst Season To Sell Your House Fast

Daniel Bortz  of Realtor.com wrote an interesting article which ennumerates the important factors to consider in knowing the best time to sell your house. Continue reading on the article below to know these factors.

When Is the Best Time to Sell Your House? 5 Factors to Consider

When is the best time to sell your house? Timing can make a big difference in terms of selling your home quickly and for the most cash. But here’s the thing: The rules on pinpointing that best time might not be what you think.

The assumption that spring is always the best time to sell is not necessarily true. The general direction of your local economy and mortgage interest rates come into play as well.

There’s no crystal ball for reading the housing market, but there are ways to stack the deck in your favor. Here are five things to consider before putting your house on the market.

1. Spring isn’t always the best season to sell your house

Though conventional wisdom maintains that the spring home-buying season (April to June) is the best time to sell, that’s not always the case. In fact, one recent study even found that sellers typically net more above asking price during the months of December, January, February, and March than they do from June through November. Surprised?

One reason may be that the spring home-buying season generally means you’ll have more competition from other home sellers—and that may require you to price your home more aggressively in order to attract buyers. (Have questions on how to price your house? Here’s how to find a real estate agent in your area.)

2. Keep an eye on the local economy

The strength of the U.S. housing market as a whole certainly plays a role in home prices. According to a realtor.com analysis of annual price growth rates, a home’s value generally increases 3% to 4% a year when the economy is strong, driven by inflation and natural population growth. From 2011 to 2016, the national housing market was recovering from the bubble at a slightly higher speed: 6.3% a year, on average.

You’ll want to assess your local economy’s conditions when figuring out when to list your home. One benchmark you can use is the S&P CoreLogic Case-Shiller National Home Price Index, which monitors single-family home sales in 20 major U.S. cities. Another valuable resource is the Metropolitan Median Area Prices and Affordability tracker from the National Association of Realtors®. Read full article here…

Timing when to sell your property could be the very determining factor if you can make fast cash out or not in selling your house fast. However timing in real estate is not just blindly choosing and pinpointing the time you sell. There are also popular beliefs in home selling which not necessarily true all the time, such as spring season is the best season to sell house fast, etc. As a matter of fact there are a handful of competition when selling house on spring.

The need to sell it fast in a market with high competition means that you are compelled to sell it at a lower price. Keeping a close eye on the local economy is also very significant since the housing market data and trends dictate home prices, a weak economy means you need to price it lower than what you originally wanted.

Digging deeper into the topic, Dahna Chandler of The Mortgage Reports wrote an excellent article that discussed the best time of the year to sell a home. Read more below and see for yourself the best time of the year to put your home in for sale listings.

What’s the best time of year to sell a home?

Consider where you’re selling a home first

The best time of year to sell a home fast and for more money depends on where you live. While most people automatically think “spring” when selling, that’s not true in places like Phoenix, Florida, Southern California and Texas. That’s because the weather gets intense in those areas–think triple-digit heat, hurricanes, and tornadoes.

Before you consider the pros and cons of selling during each season, research the best time of year to sell a home in your region.

Spring

In most areas, the best time of year to sell a home is during the first two weeks of May. You can expect to sell 18.5 days faster than any other month and for 5.9 percent more money. In other places, early April or June is better for home sales than May. There are pros and cons to spring home selling.

Pros

• Tax refunds come in the late winter or early spring, making more funds available for repairs and renovations
• Warmer weather and longer days mean more home buyers go out searching for homes
• Curb appeal improves as trees, flowers, and grass bloom (and less muck gets tracked into your house)

Cons

• It might not be the best season to sell if your weather is still rainy, snowy or muddy
• Competition is fiercest, so if your home is imperfect, it may be a harder sell
• If you have kids, you may have to pull them out of school if your home sells quickly

Summer

Like spring, summer is a top time of year to sell. In some regions, June is tops for home closing. In fact, June 28 is the most likely day in the year to close a home, according to ATTOM Data Solutions. There are a variety of other reasons that summer is the best time of year to sell a home. But drawbacks to listing between mid-June and late August exist, too.

Pros

• More daylight hours and predictable weather in most places mean more time for home showings
• Time for you (and buyers) is more flexible with vacations and more time after work hours showing or touring houses

Cons

• Weather in some areas is very hot and not conducive to house hunting
• Competition in areas where summer is prime selling season gets higher with buyers demanding more concessions and features

Read the rest of the article here…

Apart from timing and knowing the economic conditions, location is a very important factor in making the most out of selling house fast experience. In some areas, Spring is the best season to sell a house fast, but in regions like Phoenix, Texas, and Florida, it is not always the case due to intense weather conditions experienced by these locations. Home selling in a particular season has its pros and cons depending on your location, so it important to you as a seller to make research and have some due diligence in weighing out these pros and cons.

More than the best time, it is actually a no-brainer to know the worst times of year to sell a house. Erin McDowell of Business Insider wrote an article mentioning both the best and worst times of year to sell your house.

The Best and Worst Times of Year to Sell a House

Selling a home and netting the largest profit possible can oftentimes be a game of luck.

Reports, however, have shown that certain times of the year can yield higher premiums for sellers and more money in their pockets. When it comes to selling your home, it’s important to plan things in advance so your home can hit the market at the perfect moment, and secure you the perfect price.

The best time of year to sell a home is during the summer, while kids are out of school

ATTOM Data Solutions analyzed more than 28 million single-family home and condo sales over the past eight years and determined that those who sold homes in the summer had more success selling their home quickly and for their desired price.

“Since summer is a time for vacations and outings, it’s no surprise that it’s also a time when people are most likely to move,” said Todd Teta, chief product officer with ATTOM Data Solutions.

According to the study, June and August reported the highest numbers of home sales, 2,881,400 and 2,802,268, respectively.

“Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.”

Homes sold in June and May turned the highest profits for sellers

The analysis found that seller premiums were highest in June (9.2%), May (7.4%), and July (7.3%). The median sales price for homes sold in June was $200,000 with an AVM of $183,124 and homes sold in May had a median sales price of $190,000 and an AVM of $176.875 — meaning that, on average, homes sold for more than what they were valued at.

Homeowners who sold their houses during October and December reported the lowest seller premiums

Those who sold their homes during colder months — namely, October and December — reported much lower seller premiums than those who sold their homes in the summer. Homes sold in October and December sold for a median price of $188,000 with an AVM of $182,000, only making a 3.3% premium for the seller.

Full article published here…

It may sound cliche, but in most cases making profits off selling house is more of a game of luck. Also according to available data, there are certain times of the year that can give you more returns. Another important finding is that selling your house in the last quarter of the year is seen to give sellers smaller returns. The key here is to plan your selling in advance, get the perfect timing based on your location, and make a thorough research of the housing market. That way, you can maximize your gains in selling your house fast.

If you need help in selling your house fast for quick cash, Dependable Homebuyers can help you make quick cash out of your home for sale. To know more, visit https://www.dependablehomebuyers.com/sell-your-house/ and we look forward to helping you sell your house fast and make quick cash.

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247
https://www.dependablehomebuyers.com/

Sell Your House Fast In Any Market Condition

In an article written by Andrea Riquier in Market Watch, the housing market is tipping in favor of the home buyers according to several real estate agents. Read the entire article below.

Housing Market is Tipping in Favor of Buyers, Real-Estate Agents Say

‘Market seems to be in limbo,’ said one Houston agent, summarizing what much of the nation is feeling about housing

It’s been a long winter in the housing market. Economic unease, uncertainty about taxes, fluctuating mortgage rates, and rain and snow have kept buyers and sellers on the sidelines throughout much of the country.

Those insights – and more detailed observations – come from investment bank Credit Suisse, which polls real estate agents around the country every month. Its February edition, released a few days ago, paints a more uniform picture of housing conditions around the country, though some distinctly local matters, like the impact of the government shutdown on Washington, D.C., or the “red tide” in Gulf Coast Florida, stand out.

Here are some of the cities and the respective comments.

Atlanta – “Inventory is improving slightly and demand is still strong.” “Buyers willing to wait for the right property.”

Charlotte – “Not enough homes in the lower or more affordable price ranges; buyers waiting to find the right property.” “Mortgages are easier to obtain, jobs are plentiful and wages are rising.” “Expecting traffic to further increase in March.”

Chicago – “Brutal cold weather and low inventory.” “Property tax uncertainty.”

Read full article here…

It has been a long winter in the entire real estate market due to several internal factors like tax uncertainty, fluctuating mortgage rates (with the majority on the higher end), which have kept both home buyers and sellers on the sidelines in the entire country for the past years. This time is a totally different story, and this trend is actually has changed, favoring home buyers.

In an article written by Akin Oyedele in Business Insider, this trend was actually being anticipated as early as 2016. He mentioned about the shift in who dominates the US housing market. Check out the article below to learn more.

There’s About To Be a Shift in Who Dominates The US Housing Market

The balance of power in the US housing market will shift from sellers to buyers by 2019, according to experts surveyed by Zillow.

The number of prospective homebuyers grew through the economic recovery, attracted by historically low mortgage rates and steady jobs growth. This demand, coupled with tightening inventories, created a favorable market for sellers.

But it worsened affordability for buyers. A report Tuesday showed that the S&P Case-Shiller index of US home prices rose in September past the July 2006 level — right before the housing boom topped out — to an all-time high.

However, Zillow forecasts that the market will soon swing to favor buyers.

“It’s common for sellers to receive multiple bids — and in the hottest markets, sell for over asking price — but these conditions will change in the future,” Svenja Gudell, Zillow’s chief economist, said in a report published Tuesday.

“As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years.”

This forecast depends on a meaningful increase in housing inventory levels, which would slow the pace of house price increases. Zillow predicts that the growth rate in house prices will drop to 3% by October 2017.

Still, there’s no certainty that this slowdown will happen quickly enough to tilt the balance of power between buyers and sellers by 2019. One issue is that Treasury and mortgage rates have jumped following the presidential election. Significantly higher rates would worsen affordability in the coming year to levels not seen in this economic cycle, according to Bank of America Merrill Lynch’s forecast. See full post here…

Zillow actually predicted the trend to shift favoring the home buyers in 2019. This is due to the fact that house prices throughout the country dropped to over 3% by October 2017. In addition, the increase in housing inventory level, slowing down the price increase. Whether this trend continues will depend on how the prices fare or how people can afford to purchase a home.

Jessica Guerin also wrote about the housing market favoring home buyers in her article at Housing Wire. This article also shows that the prediction of Zillow was right a couple of years ago. Read the article below to know more about the trend.

Real Estate Agents Say Housing Market is Favoring Buyers

Real estate agents say many of their buyers are encouraged by an expected surge of supply this spring, and that a number of them are taking a wait-and-see approach rather than hustling to get a deal done.

This market shift that puts the control in the hands of the buyer was revealed by a recent Credit Suisse survey of 500 real estate agents around the country.

The report noted that buyer traffic in February was up one point from the previous month, but down 11 points from last year.

The results appear to be in line with expectations, Credit Suisse said, with responses indicating moderate activity across the country compared with last year, intensified by atypical rainfall, snow and cold.

Credit Suisse also said its survey revealed an uptick in incentives in markets like Las Vegas, Houston and Denver, and that Charlotte, Jacksonville, Florida; and New York – Northern New Jersey saw the largest gains in traffic.

Further, the majority of respondents to the monthly survey noted a sequential increase in home prices for the first time since August.

The report also notes that while inventory of existing housing stock is rising as sellers plan for spring demand, there is a lack of supply in housing under $300,000.

Respondents reported a strong demand for housing at this price point, noting that corporate relocations are supporting sales in areas where there is affordable housing stock. Click here to read the rest of this post…

According to some real estate agents, the majority of the home buyers are actually being encouraged by the surge of housing supply in the market, and a lot of these buyers see this as an opportunity to get good deals. Also, a lot of the respondents find strong demand for housing at the current price point.

Data shows that home buyers will most likely dominate the housing market in the next months, which means that it is a good opportunity for those who are in need to sell their house fast for various reasons.

If you see the current market condition to sell your house and make money, Dependable Homebuyers can help you sell your house fast on any market conditions. To learn more, visit https://www.dependablehomebuyers.com/sell-your-house/ and we look forward to hearing from you.

While every landlord expects smooth flowing in their property rental business, it is always not the case. There are a handful of tenants who aren’t mindful of their obligations and the rules inside the property. Some even cause damages to properties that are costly to repair. These and more terrible reasons are pushing landlords to sell the property with existing tenants.

How To Sell Your  Tenant-Occupied Property?

But, is it possible and legal to sell a property with existing tenants? To answer the question, yes it is very possible, however, landlords need to know first the tenants’ rights when putting an occupied property on sale. Laura Agadoni of Landlordology published an article about the rights of every tenant living in a property that is for sale.

Tenants’ Rights When Selling an Occupied Rental Property

There are many reasons why you might sell a rental property.

Some of the most common reasons are:

• Cash: You want to cash-in on your property’s equity.
• Cut your losses: The property isn’t performing as well you like, and you just want out.
• Accidental landlord: You inherited the rental property and have no interest in being a landlord.
• You’re moving: You’re relocating, don’t wish to be a long-distance landlord, and/or plan to buy something closer to you.
• 1031 exchange: You want to trade it in for something else.
• The end is near: You’re retiring or just want to get out of the landlord business altogether.

Handling Month-to-Month Agreements

If your tenant is renting on a month-to-month basis, all you need to do is give your tenant proper notice. This involves mailing or delivering a letter to your tenant 30 days before you’d like them out, usually in respective to the rent due date.

The required notice period varies from state to state, so be sure to look up your state’s policy here.

You don’t need a reason to terminate a month-to-month agreement, hence why it is called a “no cause” termination. It’s one of the main benefits of having a month-to-month agreement. You don’t have to tell the tenant why they need to vacate unless you want to.

Handling Fixed-Term Leases

Fixed-term leases require a more delicate touch and don’t normally terminate just because a property changes ownership.

Here are five options for handling a tenant with a fixed-term lease:

1. Wait Until the Lease Has Expired

If you have a tenant in good standing who is renting the property under a lease situation, the easiest method for you is to wait to sell the property until the lease is up and your tenant has moved out.

Read full article here…

While landlords have full control of the property, tenants also have their rights that must be respected and taken into consideration. Tenants must be given proper notice at least a month before selling the property. Depending on what type of agreement landlords to their tenants (month to month basis or property lease) they deserve to know the landlord’s painful decision of selling the property as part of their absolute right.

We already know that we can legally sell a property with tenants still occupying the property, the next question that should be answered is how to sell a tenant-occupied property. Trulia wrote an awesome article answering this very important question.

How to Sell a Tenant-occupied Property

Know your rights—and the tenant’s, too.

Whether you’re tired of landlord life or want to take advantage of a seller’s market, there are plenty of reasons you might need to learn how to sell a tenant-occupied property. Sure, it’s your house to sell, but having renters does affect the process. Violating lease agreements or angering a tenant could slow things down, so you’ll want to approach selling your tenant-occupied property with care and plenty of research.

Selling a Tenant-Occupied Property

One of the biggest challenges of figuring out how to sell a tenant-occupied property is that there are so many variables. Here are a few different ways to approach the sale, depending on your situation.

If Your Tenant Has a Month-to-month Lease

Month-by-month leases are typically the most flexible rental situations. Depending on your state and city, you may only need to give your renters a heads-up 30 or 60 days before you need them to hand over the keys. Make sure to provide notice (in the manner required by your lease) to your tenant detailing when the agreement will end.

Landlords can typically terminate month-to-month leases without cause or explanation, so you aren’t required to tell your tenant about the sale. However, any housekeeping measures you need to take (think: preparing for inspections or open houses) may go more smoothly if you keep your tenant in the loop.

If Your Tenant Has a Fixed-term Lease

Longer leases can slow down the process of selling a tenant-occupied property a bit. Unless your lease includes an early termination clause, your renter has the right to live on the property until the lease is up—assuming he or she is paying rent and hasn’t violated the lease agreement.

The bottom line is, if a renter is following the rules and paying regularly, they don’t lose their right to call your house their home just because you want to sell. It may be best to wait until the lease has expired before selling your tenant-occupied property. Read full article here…

Depending on the type of agreement landlord and tenants made, there are a handful of reasons why landlords end up to a painful decision of selling the property despite still being occupied by tenants. As owner, remember that violating the lease agreement or angering tenants by not considering their rights could slow down the process and might pose problems in the selling process. Do some thorough research and patience in dealing with tenants to avoid delays in selling.

For tenants renting on a month-to-month basis, start by giving at least 30 days heads up before getting the keys to your property. Tenant with fixed-term lease agreement, it is best to let them to finish the lease term, especially if the tenant hasn’t violated any of the items in the contract.

Ann O’Connell of NOLO explains further the legal process of selling a property rental with tenants still occupying the property as well suggested some quality tips in making the most out of your property selling.

I’m a Landlord Selling a House: How Do I Handle Renters Living in It?

Legal and practical considerations when selling a house or property that you’re currently renting out.

Having someone living in your home, condo, cottage, or other property while trying to market the property for sale market necessitates extra consideration. For purposes of advertising and showing the property to its best advantage, you’ll want to take into account both the tenant’s rights under the lease or rental agreements as well as state or local law, and your own needs as a seller.

(Then again, maybe the tenant wants to buy the property! Before going through the effort of putting the house on the market, don’t forget to ask.)

Can I Sell a Property With a Tenant Living in It?

This is usually the first question that arises when a landlord wants to sell. The simple answer is yes, you can sell a property with a tenant still living in it. In fact, the laws in most, if not all, U.S. jurisdictions give the tenant the right to remain in the property for the term of the lease, continuing on after the sale if the tenant’s lease remains in force.

In some situations, having the tenant remain during and after the sale may be fine with you. You will, however, want to consider the advantages and disadvantages to selling the property while it’s occupied. If you don’t think the property will appeal to buyers with a tenant living in it, other options may exist.

Should I Try to Get the Tenant to Leave Before Putting the Property on the Market?

It’s entirely possible to market a property as an occupied one with a valid lease in place. This may actually be an attractive option if the property is an apartment or condo or would make a good investment property.

Many investors are happy to pick up a property with an existing tenant who is up to date with rent and has a long-term lease in place. However, if the current tenant owes money or is paying below-market rent, you may want to consider other options.

You can try to negotiate with the tenant regarding the length of the lease. Offering money in return for the tenant agreeing to modify the lease and move out early is a common approach. That way, you can either have the tenant clear out in time to completely clean and perhaps stage the property, or you can market the property as “vacant upon closing.” Read more tips here…

It is clear that every landlord and owner can legally sell the property even if tenants are still occupying it. However, landlords must completely respect tenant’s rights is essential. If letting them complete the lease’s duration, landlords can negotiate with the tenants by offering money for the remaining duration of the lease agreement. That way the owner can now mark the property as vacant upon closing. Follow the above tips and decide for yourself if you would want your tenant to vacate the property first before listing, or have it listed first before informing them about the decision.

As landlord, now that you know that you can actually sell your tenant-occupied property rental, and you know exactly what are the things to take into consideration to avoid problems, the next step is to have it listed in various property listing sites. If you don’t know exactly how to do it, Dependable Homebuyers can help you sell your property rentals with existing tenants. To know more, visit https://www.dependablehomebuyers.com/tenants/ and let’s get started.

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247
https://www.dependablehomebuyers.com/

Know The Difference Between Selling Your House As Is and Doing Home Renovations

It is great to know that the home improvement market is doing well. Experts would normally check the demographics of those who are doing more home improvement in their own homes. Jessica Guerin of Housing Wire wrote an article about the older homeowners is driving the home improvement market. Read the article below and learn more.

Older Homeowners are Driving the Home Improvement Market

Harvard study says Baby Boomer spending on accessibility improvements will soar

Armed with record amounts of home equity and an expressed desire to remain in their homes as they age, older homeowners are driving the home improvement market.

A recent study by the Joint Center for Housing Studies at Harvard University revealed that households 55 and older account for half of all current home improvement spending.

And, as Baby Boomers reach their 70s and 80s, researchers say their investments in home modifications to enhance accessibility will soar.

Home improvement spending set a new high in 2017, reaching $424 billion, according to the report, which attributed the upward trend to a steady increase in home prices and an aging population.

“Rising house prices are good news for the remodeling market in that they are associated with higher home improvement spending,” the report stated. “Knowing that their homes are increasing in value provides owners an incentive to invest in their properties.”

Rising home prices also translates to rising equity levels.

The report notes that with more equity in their homes, owners have “a ready source of funds if they want to finance their projects.”

Older homeowners are also living longer and are increasingly willing to spend money on home improvements that will allow them to age in place.

Nearly 3 million homeowners, of which more than 72% were at least 55 years old, said they were taking on one or more projects that would improve accessibility.

Further, the report revealed that homeowners who are remodeling to enhance accessibility spend significantly more than those with other motivations. See full post here…

Data show that older homeowners are the ones who are driving the home improvement market. The rising house prices are good news for the remodeling market for they are associated with higher home improvement spending. This is also because older homeowners tend to live longer and normally opt to spend money on home improvements in their homes.

We now know that older homeowners drive the home improvement market, let’s find out how the younger generation impacts the home improvement market. Builder wrote an article about millennials and home improvement. Check out the article below.

Millennials Take the Lead in Home Improvement Projects

This group is more likely than any other generation to remodel any part of their home—and spend more per renovation.

HomeAdvisor on Tuesday released its True Cost Report on generational trends in home improvement, the negligible impact of rising interest rates on homeowner decision making, and the growth of home improvement spending.

Findings of the report show that 80% of homeowners surveyed plan to stay in their existing homes rather than move, and as a result are planning to spend more on home improvement projects this year, with half of all respondents considering a remodel.

The report, authored by HomeAdvisor’s Chief Economist Brad Hunter, shows that millennials, for whom homeownership rates are increasing rapidly, are more likely than any other generation to remodel any part of their home—and take on the highest number of projects. While other generations take on fewer projects, millennials tend to spend more per renovation.

“Most millennials have had to compromise on the size and condition of their starter homes — with many purchasing older homes in need of repair just to be able to afford homeownership,” said Hunter. “Many of the millennials who bought a home in the last few years are seeking to upgrade. But a lack of housing inventory, coupled with inflated home prices and rising mortgage rates, has them renovating their existing homes instead of selling and moving.” Learn more here…

It is a good thing to know that apart from older homeowners, millennials are taking the lead also when it comes to various home improvement projects. Millennials’ homeownership has also increased rapidly, and the majority of them are keen on remodeling their houses at least once a year.

This is also evident in the trends to watch in 2019 for home improvement market trends, and Jamie Gold wrote about this in her article at Forbes.com

Five Home Improvement Trends To Watch In 2019

Do you follow the home improvement industry? If so, the Home Improvement Research Institute thinks you should pay attention to these key trends in 2019. The nonprofit trade association is comprised of global building product manufacturers, national retail chains and allied organizations on the media and information side.

These five takeaways were among the key points industry experts shared at HIRI’s 2018 Industry Insights Conference last September in Oak Brook, Illinois (with context provided).

DIYers are more likely to be Millennials.

Nearly a quarter of the U.S. population made home improvements in the last year and only 7% of them worked with a professional. “DIYers spend more than 60 hours per week on TV and digital devices, including computers and smartphones,” Peter Katsingris, senior vice president of insights at Nielsen, told conference attendees. “The technology and the choices it provides make DIY a realistic option for people.” (A quick search of YouTube shows 252,000 results for home improvement DIY videos, potentially a useful albeit cluttered marketing platform for reaching this massive demographic – or figuring out how to wire your new smart home security system.)

Remodeling activity isn’t slowing down anytime soon.

The steady increase in remodeling activity will continue through 2021, HIRI experts predict. (With home prices increasing, new construction harder to find in some areas of the country, and homeowners aging in place, people are staying put and remodeling.) “With the existing house stock averaging 38 years old, much of the inventory is in need of updating,” noted Mark Boud, senior vice president and chief economist at Hanley Wood/Metrostudy. Read more here…

The home improvement market has not been affected by the increase in prices in houses, even spending money on home renovations and repairs. It is also good to know that both the older homeowners and the millennials favoring home improvement and renovations in their houses, driving the entire home improvement market up.

There you have it, the home improvement market is going up, which means homeowners know the value of doing home repairs and improvement for it helps appreciate its value. However, doing home repairs and renovations can be very costly and might get you out of budget. If house repairs and want to sell your house fast and as is, Dependable Homebuyers can help you sell your house fast. To learn more, visit https://www.dependablehomebuyers.com/as-is, and let’s get started.

Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247

We Buy Properties In Any Condition!

Compared to other investment types, real estate is considered to be one of the easiest, less risky, more long-term, and could earn a huge amount of profit if done right. However, still, there are lots of people who feared to get in touch with real estate investing as the number of investors is showing. There are reasons why the stigma and Morris Invest enumerated the top reasons why these people don’t invest in real estate.

5 Reasons Why People Don’t Invest in Real Estate

Buying cash flowing assets like real estate is the best way to build your net worth and establish financial freedom for your family. However, not that many people have caught on to the importance of buying assets. From my experience talking to investors, there are five main reasons why:

1. Fear. Many people are unable to begin creating wealth due to fear. They’re scared about money, or the negative things that come with owning rental properties—like evictions or repairs. I’ve done many episodes about fear, and I strongly believe that your ability to change your life lies in your ability to quiet your fears.

2. Cynicism. We’ve all encountered the kinds of people who are skeptical about everything. They think everything is too good to be true. They don’t believe in the possibilities, so they choose to not make it work.

3. Laziness. I have a friend who dreams about reaping the benefits of rental real estate, but he lacks the ability to put a plan into action. He always has excuses, and he just doesn’t have the hunger. If you want to buy assets, you have to go after it and make it happen.

Browse the entire list here…

In a nutshell, we can’t blame people who are afraid of real estate investing. They have a strong fear of losing their hard-earned money from investing in something they don’t fully understand. Also, some of them feared to own rental properties for they don’t like the idea of evicting tenants, etc. Some are just lazy to invest, and they’re a hopeless case until they start moving.

While these reasons are valid, there are also lots of ways of combat these reasons or excuses for not investing in real estate. Than Merrill of Fortune Builders wrote the ways to completely get rid of this negativity and start the journey towards real estate investing. Read below to learn more.

Combatting 5 Common Excuses People Use For Not Investing In Real Estate

Every day hundreds, if not thousands, of new investors enter the real estate business. For every one new investor there are probably five that remain on the sidelines. They have the desire to get started and they see the tremendous upside but something is holding them back. Maybe that person is you. From the outside the real estate business can be quite overwhelming. Between the unique jargon and the fierce competition for deals the business is far from easy.

“I’m afraid of losing money”. This is the most common excuse made by would be investors. This is a very natural instinct and a very real concern. Nobody wants to lose years of savings in the matter of months. This narrative is usually shaped from one or two stories they may have heard or read. While there is risk with every investment the reality is that real estate offers the biggest security blanket. When you invest in real estate you are buying a tangible asset.

“I don’t enough education to be an investor”. You will never be completely comfortable with your knowledge base starting out. There is always an area that you are unsure on or would like to know better. You don’t need to be an expert on every aspect of the real estate business. As long as you know a few core areas of due diligence you are ahead of the game. Depending on which aspects of the business you focus on you probably know enough already. Even if you don’t you should have a solid team around you to answer any questions you may have. Every successful investor you see started out in the same position as you.  See full post here…

These excuses can be combatted easily if you have the eagerness and determination to learn how to invest in real estate. From the outside looking in, real estate investing is indeed quite overwhelming and complicated. However, don’t let this complexity discouraged you without even trying to learn the basics as well as the advanced concepts of investing in real estate.

It’s time to get unstuck from these unnecessary fears and start investing now, that what Carissa Swanwick wrote in her article at BiggerPockets. Check out what she had written below.

5 Strategies to Get Unstuck and Start Investing Now

Purchasing your first property is exciting. It can also feel daunting, scary, intimidating, and thrilling.

However, some people struggle to make that first purchase. They spend years reading books, analyzing properties, and feeling that they have to know the answers to every possible situation before jumping in. Meanwhile, others are able to dive right in with less concern about what could go wrong and are willing to learn along the way.

If you are struggling to get off the sidelines, here are five tips to get you unstuck and through your first purchase.

1. Establish realistic expectations

You likely have grand visions of your future portfolio. It will be large, profitable, and produce enough cash flow to change your life and achieve financial independence. Those are great goals that are important to have in the long-run, but they can also feel overwhelmingly paralyzing in the beginning.

Focusing too narrowly on your end goal can make you believe your first purchase will define your overall success. Instead, consider your first property as your “learning property.” Going in with this mindset will help create realistic expectations about the situation.

2. Be honest about what is making you stuck

In reality, there are hundreds of things you must know, but allow yourself the time and space to learn them as they come up. Focus on “just in time” over “just in case” learning.

Rather than pressuring yourself to learn everything, ask yourself, “What is my biggest fear that is holding me back?” By doing this, you can focus on figuring out the correct next step—the most immediate thing you must do to get unstuck.

If your answer to the fear question is, “I’m afraid I will run out of money,” take a hard look at your capital reserves or review your financial assumptions to see if your figures are too optimistic.

3. Right-size your target purchase

Each of us has a unique financial situation that influences how we invest. If you are new to investing and are making a purchase on your own, a 100-unit apartment building may not be your best move out of the gate. However, if you are investing with an experienced partner, you could take on a larger purchase with more complexity.

Select a target property for your first purchase that matches your financial situation and experience level. For example, a single family home is a great property to learn from. Learn more here…

It is normal for people who don’t have the slightest knowledge about real estate investing to be fearful and skeptical about the pros and cons of investing. But it is just temporary. All you have to do is to overcome the fear, emotion, and negativity and start working your way towards learning the basics of real estate investing and later on become a successful investor.

If you’re planning to invest in real estate but lacks the capital, we at Dependable Homebuyers can help you sell your house fast and turn it into capital for you to start your real estate investment project.

There are investments that have the potential to earn huge profits with very high risk such as house flipping. To learn more about selling your house fast, visit us at https://www.dependablehomebuyers.com/sell-your-house/ and we are ready to help you sell your house fast.