You’ve heard the rumors; it’s a “Seller’s Market.” Well if you are actively searching for a new home, you know that it’s true. The low inventory of homes for sale has made things difficult for buyers. There just aren’t many homes for sale out there and when a nice listing does come on the market, it’s met with multiple offers, often with offer prices over asking.
Real Estate agents are individuals who are licensed to assist clients when buying or selling real estate. Unlike other professionals who get paid by the hour they spend on a job, real estate agents only get paid when a transaction successfully closes. The agent is then paid by receiving a commission for services. The commission is calculated based upon the selling price of the property.
The seller pays the commission for both the listing agent and the buyer’s agent. This means that using a buyer’s agent does not effect your side financially.
We have all heard stories about flipping houses and the profit involved in such a venture. I will attempt to give the reader some guidelines as I see the pros and cons of the practice. Even though it can produce profits, it also has some pitfalls to avoid. Following is my list of dos and don’t as I view it from years of real estate experience.
Do You Really Know How Much You’re Paying?
You found it. The home of your dreams. The next chapter of your life. The place where you’ll create so many family memories, host holiday gatherings, and raise your children. That’s so exciting! And lucky for you, you have a family friend that’s a lender, a cousin that’s an insurance agent, and a neighbor that’s a home inspector. Your Realtor suggested you shop around a little bit to get the most for your money, but you know your connections wouldn’t steer you wrong. Would they?
“Should Buyers attend the Home Inspection?”
The Inspection process is where you find out even more about the property you are about to purchase. It is your time to relook at the home and understand how everything inside and outside your future home operates. It’s time to go over every inch with a “fine tooth comb!”
Happy 2019! New year’s always fill our social media feeds with a lot of “New Year, New Me” posts. I would guess you are probably pretty sick of those posts by January 2nd. But I have one more for you to consider:
“New Year, New Home.”
What? I cannot make a resolution to get a new home (That’s what you are thinking right now, and I know it).
Well, why not? New years bring plenty of new changes in life. You may be looking ahead to this year planning a wedding, planning for a child to come, or just planning to adopt a furry friend into the family. Who knows!
Clients often ask, “Are land prices holding?” My reply is always a quick “Yes, and prices are beginning to creep up in the last year or two.” Then the next question is always “What is causing the increase?” Of course, the answer to that is always availability. Anyone who has looked for a sizeable piece of land lately will tell you it is just not to be found. The quick answer for the next question is “They just don’t make any more land.”, but of course, it is much deeper than that.