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When buying a home, most people want a real estate expert on their side. A recent study found that 95% of homebuyers want their real estate agent to be knowledgeable about the many facets of the home purchasing process and 92% of homebuyers want their agent to have knowledge of the local real estate market.
That’s us! How can we assist you? Contact us today for homebuyer knowledge and strategies.
Flipping houses is still popular in the U.S. housing market. In fact, a report by ATTOM Data Solutions found that the home flipping rate hit a six-year high in the first quarter of 2018. While changes in the industry have affected the market, they are not stopping property investors from seeking out good opportunities. If you’re looking to start a home-flipping business – or re-start – here are three things to consider:
Create a finance plan. You may find a home that seems like a good candidate, but you’ll always want to compare the purchase price of the property to the after-repair value, or ARV. Calculating the ARV can be tricky but it’s key to figuring out if you’re going to make any money on a property. A good realtor can help you figure this out.
Be selective with properties. Neglected homes in good neighborhoods are a favorite of investors. So are homes with easy-to-fix cosmetic issues like peeling paint and shaggy carpets. However, structural problems, roof issues and faulty furnaces are more costly things to fix. That’s why a home inspection is a must.
Appeal to a wide audience. Put your personal preferences aside when selecting paint, cabinets and carpet. Try to make improvements that would appeal to a wide range of potential buyers. Consider neutral colors, for example, over daring color combinations.
The faster you complete the renovations, the faster you can market and sell the house and make a profit from your house flipping business.
Contact us for more homebuyer knowledge and strategies!
Are student loans preventing you from buying a home? If so, you might want to investigate down payment assistance programs.
Contact us for more homebuyer knowledge and strategies.
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Student Loans Keeping You From Buying A Home? Think Again
Student loan debt has long been cited as one of the Millennial generation’s biggest barriers to homeownership. But it seems the hurdle might not be as insurmountable as many think.
In the market for a new home? Purchasing a home is definitely something we don't do every day. So it's easy to make mistakes, and when it comes to home buying, mistakes can be costly. Here are some of the most common errors made by first-time buyers, as well as those who already have purchased a home or two before.
Shopping before getting pre-approved. Pre-approval is essentially a commitment from a mortgage company to provide you with a home loan up to a certain level based on your financial circumstances. Without consulting with a mortgage company first, you aren't going to know how much house you can afford. And if you find a home you want to buy, most sellers today may disregard offers from buyers who aren't pre-approved by a mortgage company. Get pre-approved before you start looking at homes.
Looking for homes on your own. Don't go it alone. You'll want the experience and knowledge of a real estate agent on your side. An agent can provide another perspective on the home you are thinking about buying and help you avoid common home-buying mistakes.
Using up all your cash on a down payment. Many buyers want to put as much as possible down on their home purchase to lower their monthly payment and/or to reduce or eliminate mortgage insurance premiums. Just make sure you have enough cash remaining for unexpected expenses after you've bought your home.
Skipping the home inspection. Never (ever) skip a home inspection when buying a home, if at all possible. A quality home inspection can reveal critical information about a home's condition you'll want to know before you sign on the dotted line.
Buying things. Hold off on purchases of items such as furniture before you complete your home purchase. Your home loan pre-approval is dependent on your current financial situation. This isn't the time to be adding more financial obligations or draining your savings account.
For more homebuying knowledge and strategies, contact a MaxReal agent today.
