Even Zillow says their popular Zestimate feature is a ballpark guess at best and doesn’t reflect the true value of a home. Still, everyday I hear someone who takes the Zestimate as gospel… Poor misguided foolz…
Most sellers are unrealistic about the true market value of their home. Most buyers are unrealistic about how much home they can actually afford. Until both sides bring their expectations down to earth, it’s impossible to do a deal.
When you buy a home, you’re likely to run into a number of real estate terms. Let’s look at one. Down Payment. A down payment is made by the buyer at the beginning of a home purchase to show commitment to the transaction. It’s usually a percentage of the total price of the home, and paid through a wire transfer. This payment is immediately applied to the buyer’s equity position in the property.
Before you put your home on the market be sure to remove personal photographs and pack up family heirlooms. You want buyers to imagine their own photos on display, and they can’t do that if yours are there. Follow these tips to stage your home easily and inexpensively.
Finding the perfect home can be quite an undertaking, but don’t feel rushed into making a decision without first considering all of your options. According to Industry Research, the majority of home buyers saw fewer than 11 houses. In fact, people who saw thirty or more houses only counted for five percent of all sales.
HGTV is killing me… Thanks to HGTV, every home buyer now expects every house to be updated with granite counter tops, hardwood floors, marble showers, and a ton of other high-end amenities. The truth is, most houses would be better suited for a hoarding show than an HGTV dream home. That’s why buyers must either lower their expectations or come off their wallets if they want a house like they see on TV.
Before you start your new home search, it’s a great idea to get all your ducks in a row regarding the documentation you’ll need to get a loan. You’re going to need pay stubs, W2’s, a couple of years in tax returns, and maybe more. Here’s how to prepare for the process.
Before you settle on a new home you should thoroughly check out the neighborhood at different times of the day and night. A neighborhood might be calm and peaceful during the day, but all hell might break loose at night. Here are a few tips to help make sure the neighborhood is the right one for you and your family.
When shopping for a new home the word proximity should be top of mind. How close is the house to schools, shopping, restaurants, doctors, work, friends, family, etc. You might find the perfect home but if it’s off the beaten path, the allure may wear off quickly.
Lots of deals are torpedoed by inspections that reveal problems with the house. Buyers want everything fixed, no matter how minor. Sellers don’t want to spend a dime on a house they’re leaving behind. What’s the solution? I’m a big believer in heading off trouble before it begins.