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

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/

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/

We Buy Houses In Washington DC

Barbara Radcliffe Rogers of PlanetWare enumerates the top rated tourist destinations in Washington DC that every tourists must visit at least once for they will learn a lot from The District; its history, culture, tradition. Check out the article below to learn more.

Top-Rated Tourist Attractions in Washington, D.C.

The District of Columbia, on the Potomac River between Maryland and Virginia, was set aside as the nation’s capital, so that the federal government would not be located in any single state. Pierre-Charles L’Enfant was commissioned by George Washington to plan the city, and you can clearly see L’Enfant’s layout of a street grid intersected by broad avenues.

The most important of these is Pennsylvania Avenue, connecting two iconic buildings: the White House and the impressive domed Capitol Building. Alongside and maintaining L’Enfant’s vision of an open and spacious city stretches the wide National Mall with its museums and monuments.

National symbols such as the Capitol and the White House are accessible to visitors, along with dozens of other tourist attractions, which include world-class museums and important monuments. Many of the most important things to see and do are in the northwestern quadrant along the National Mall and are best seen on foot. Summer can be unpleasantly hot and humid, so the best times to visit Washington are spring and autumn.

1. United States Capitol and Capitol Hill

Recognized around the world as a symbol of the United States, the Capitol is the seat of the House of Representatives and the Senate. The huge dome, based on the dome of St. Peter’s in Rome, stands out above all other Washington buildings.

Like Washington itself, the building has grown over the years since the central portion was built between 1793 and 1812. The last addition, in 1958-62, enlarged the main façade where presidents take the oath. On the other side, a marble terrace offers beautiful views over the mall and the city.

The interior is resplendent with frescoes, reliefs, and paintings, especially the rotunda under the great cast-iron dome with a ceiling painting by Constantino Brumidi and huge paintings of scenes from American history on the walls. Beside it is the former Chamber of the House of Representatives, with statues of leading historical figures. The small Senate Rotunda leads into the beautifully restored Old Senate Chamber, where the Senate met until 1859, and the Supreme Court until 1935.

2. The White House

The White House is the official residence of the President of the United States. The home of every president except George Washington, it was originally built by James Hoban in 1792, and after being burned down by British forces in 1814 was rebuilt in 1818. Although tours of the interior that include the East, Blue, Green, and Red Rooms; the Ballroom; and the State Dining Room must be reserved well in advance through your Congressional office or embassy, every tourist to Washington will want to see this iconic building, at least from the outside.The free White House Visitor Center, a short distance away, has excellent interactive exhibits, which show details about the White House and the presidential families. It includes furniture of past presidents, a model of the residence, historical changes, and videos with insights from presidents about their time living there.

3. The Lincoln Memorial

The best-loved of all Washington’s memorials, the Lincoln Memorial stands at the far end of the mall, separated from the Washington Monument by the Reflecting Pool. At its center is a 19-foot marble statue of a seated and pensive President Abraham Lincoln surrounded by 36 columns, one for each of the states that existed at the time of Lincoln’s death. This is the most famous work designed by noted sculptor Daniel Chester French. Jules Guerin painted the murals on the inside walls, showing important events in Lincoln’s life. Find more top-rated tourist attractions here…

There are a handful of tourist attractions in Washington DC that are worth visiting due to its historical values and contributions in shaping the nation’s capital. However, it is important to remember that a lot of these attractions are subject to very tight security, so strictly following protocols is a must, especially within The White House’s perimeter.

Some tourists just want to enjoy Washington DC without spending too much. The good news is that are the a lot of things to do and places to visit in the city that are less expensive – and some of them are free. Check out this article published at Washington.org are know what are the free things to do and the best of Washington DC.

Free Things to Do: Best of Washington, DC

The list of free things to do in DC is quite long, headlined by Smithsonian museums, the National Gallery of Art, the monuments and memorials and annual events and festivals. We’ve detailed some of the most popular activities here, so on your next family trip to DC, make sure you cross all of these off of your bucket list!

And if you’re looking for even more budget-friendly fun, you can save big on popular paid attractions with Washington, DC’s best city and attraction passes. Discover discounted sightseeing tours, museum passes and so much more.

1 Explore the National Mall

Touring the National Mall should top your list of must-do’s when you visit the District. Free monuments, memorials and museums are all around, including the famous Lincoln and Jefferson memorials and the popular National Museum of African American History and Culture.

 

2 Visit the White House

Touring the public rooms of the U.S. President’s home is another once-in-a-lifetime opportunity that can only be savored in DC. The experience is free of charge, but you will need to contact your congressional representative well in advance of your trip in order to schedule a visit. For more information, check out our guide.

 

3 Take in the Smithsonian museums

These are America’s museums, so there is no charge to visit them! All Smithsonian museums have interactive components and unparalleled collections of artifacts. The hard part is choosing which ones to visit. Visitors often flock to the National Air and Space Museum for its journeys into space and the National Museum of American History for its in-depth look at our nation’s past. Also, be sure to check out the recently renovated Freer | Sackler Galleries, which are dedicated to Asian art.

 

4 Tour DC’s premier cultural arts center

Take a free tour of the John F. Kennedy Center for the Performing Arts. Guided tours depart every ten minutes, and docents discuss its artwork, 50-foot Austrian chandelier, interactive exhibit on the life of President Kennedy and the panoramic view of the city from its marvelous Rooftop Terrace. Tours are available in 17 languages. There’s also a free shuttle to the Kennedy Center from the Foggy Bottom Metro stop, which leaves every 15 minutes from 9:45 a.m. – midnight Monday – Friday, 10 a.m. – midnight on Saturdays and 12 p.m. – midnight on Sundays.

Browse more free things to do in Washington DC here…

Visiting Washington DC is a wonderful place to visit, with lots of amazing tourist attractions, architecture, culture and other amenities – and you can visit all of them without cashing huge amount of money. A lot of these attractions are for family and are very budget-friendly. So next time if you want to learn more about the history of United States and how it was developed, visiting Washington DC and its top tourist attractions.

By having rich historical information and values, Washington DC is a haven for tourists who want to know more about the country’s century-long political struggle, history, engineering, architecture, history and more. If you see this as an opportunity and decided to sell your house for fast cash, Dependable Homebuyers can help you sell your house fast and find the right buyer for your home. To learn more, ,visit https://www.dependablehomebuyers.com/washington-dc/ and we look forward to hearing from you.