The Truth About Selling Your Own Home
A lot of homeowners are convinced that if they’re willing to put in a little more effort on their own, they’ll end up turning a bigger profit when selling their home. While there are some rare examples where this may be true, the vast majority of evidence suggests otherwise. In most cases, people who sell their own home end up working way too hard and end up with less in their pocket than they would have by getting some help from a REALTOR®. Take the road more traveled by Only about eight percent of homes sold are for sale by owner (FSBO). This is no coincidence; the market knows how important it is to use a REALTOR® to ensure that business is done right. Additionally, about 38 percent of the homes that are listed FSBO end up going to someone who already has a relationship with the seller. This indicates that the house will probably be sold at a discount to help maintain or bolster a good personal relationship after the sale is made. Why settle? Taking the FSBO route is one that likely means that you’re going to end up working way harder than you need to and will end up with less to show for it. On average, homes go for 24 percent less when they’re listed by the owner. Additionally, if you’re in the 38 percent who sells to a friend, your home would be expected to sell for 36 percent less than its actual market value. Experience matters Studies show that 49 percent of FSBO sellers do not actively market their home. The 51 percent that do take the time to market their home tend to rely on yard signs and friends and family to do the bulk of the work. A REALTOR® understands the ins and outs of the industry and won’t leave things up to chance when marketing your house. Some of the leading struggles for FSBO sellers are getting the right price and understanding paperwork. This is the type of work a REALTOR® is extremely familiar with and can use their expertise to maximize the value of your home. Understandably, giving away a cut of your earnings after a home sale can seem frustrating. However, consider how much more you cost yourself by not allowing a REALTOR® to help you sell your home. Great Realtors have an extensive marketing budget to reach more eyes and pockets for your home resulting a negotiated higher price for your home, often covering any Realtor fee’s but since you have multiple eye’s, it also increased the chance of much better terms for you!
5 Questions to Ask When Selling Your Home
When selling your home, it’s important to ask the right questions. It can be a timely — and occasionally stressful — process, so making sure everyone is on the same page throughout is key in getting your home ready for the sale. What is the typical time frame for selling? This question is a great way to gain some perspective on the overall process, and can make you all the more prepared for the sometimes long journey of putting a home on the market. What is the best marketing strategy for selling? This will vary based on location and other factors, but making a home stand out on the market is a common denominator regardless. Between social media, mailers, open houses, and solid listing photos, there are many options to choose from to make for a strong marketing plan. How will the listing price be decided? Money is obviously a large part of the selling process. Knowing the plan to reach a listing price is an integral part of the sale that you want to stay on top of. What is the best way to stay in communication? Does the team involved prefer calls, emails, or texting? Clarify ahead of time, and make sure the lines of communication are open for you to address any problems as they arise. What does the staging process look like? Depersonalizing your home is important, and can take some time depending on how personal your interior is styled. There should be a solid plan for this step, even if it means getting an outside contractor involved to make your home market ready. Don’t go into the selling process blindly—instead, make sure to ask the right questions that make putting your home on the market a breeze for everyone involved. ~ The Realtor should know the answers to these questions quickly and remember that this is a partnership and it takes 3 critical things to sell your home: PRICE * CONDITION * MARKETING. You control two of those!!
The Ultimate Home Financing Guide
Congratulations! You’re ready to buy a home. But before you start scouring the MLS & consumer sites, you need to secure a home loan. To ensure that the financial stage of your home buying goes smoothly, brush up on the ins and outs of the process. The three most popular types of loans: Fixed-Rate MortgageThis is the most common type of loan, and for good reason. With a fixed-rate loan, the interest rate remains the same throughout the loan’s duration, which is typically 15 or 30 years. Who should use this loan? Those who are interested in consistent housing payments or don’t plan to move anytime soon. Adjustable-Rate MortgageAlso known as a variable-rate mortgage, this is a loan with an interest rate that changes based on the prime rate and index rate. While you may start with lower monthly payments, you must be prepared to pay more at any given time. Who should use this loan?Those who have poor credit or plan to sell their home before their fixed-rate period is up. FHA LoanIn an effort to make buying a home more attainable for Americans, the Federal Housing Administration offers FHA loans which allows buyers to put a minimum down payment for as little as 3.5 percent. Who should use this loan?Those who don’t have enough savings for a down payment. However, with a FHA loan comes private mortgage insurance (PMI), which hovers around 1 percent of the cost of your loan. There are so many more types of loans, and once we dig in and get to know you and your situation, we can help you find the perfect loan that fits your situation right now in your life. At the end of the day, talking to us and then also a mortgage professional will help you decide which type of loan is best suited for you. Our lives changed often so let’s narrow it down for your current life situation. Application documents checklist To be able to predict your financial future, lenders need to take a hard look at your past and present financial situations. With this checklist, the task of gathering the necessary paperwork won’t seem as burdensome. Bank statements W2s from current and past employers Pay check stubs List of all debts List of all assets Credit report Residential address for the past two years Landlord names and addresses for the past two years Proof of timely rental payments Divorce decree (if applicable) Gift letter (if using gift funds) Bankruptcy paperwork (if applicable) Ready to speak to a lender? Finance your dream home in Southern California! Let us help you find your dream home and connect you with a lender to make it happen. Our team of local financing experts are ready to guide you through the home buying process. We are committed to fast, professional, courteous and personal service to help you understand and feel at ease throughout the home buying process. Our trained and certified loan originators specialize in financing homes in the current real estate market. We are prepared to find the right loan program with competitive rates and low down payments for you. Different counties like Riverside, San Diego, Orange County also have different types of loans so where you buy also can make a difference. We have relationships with several loan originators and can connect you directly so you can go over your personal details with them. We choose to help with your overall general idea of which options you have in front of you. but when it comes to the details, you will keep that close to your vest between you and the lender only. Let us help…Call (951)221-3446
Why to Buy and Sell a Home in the Winter
Winter weather usually has everyone hiding indoors—waiting for the spring to start the home buying and selling process. If you are interested in buying or selling a home, don’t wait! There are plenty of advantages to buying and selling during the winter season. Less competition Many people wait until warmer months to come around to get the ball rolling on house hunting and www. This means you are going to have a lot of competition. If you can tough out the cold, you may find yourself putting up less of a fight for the home of your dreams. Motivation People who buy and sell in the winter are not typically looking to just get an idea—they know what they want. If people are taking the time to stage and hunt during this season, it usually means they are serious and want to close before the competition rolls around in the spring. Get loans fast With less people applying for loans because winter is a less competitive season, lenders are going to be less busy. Which is good news for those that do decide to buy and sell; you will get the undivided attention and service you deserve. Show off cozy qualities Take advantage of the snow on the ground if you are selling—show buyers distinct aspects of your home that may pose more appealing during the winter like a fire pit, fireplace, insulated attic—anything to grab their attention. Buying and selling your home doesn’t have to be long and arduous, check buying and selling your home off your list of things to do this winter!
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