For first-time millennial home buyers, student debt, unemployment and rising home prices continue to pose formidable challenges, but, fortunately, we have agent-curated strategies — 2020-tested and approved in several hot markets — that can help turn renters into buyers for you.
1. Help Renters Think in Future Tense
Coaching clients to downsize their rent as a means of saving for the down payment, and supporting them rental-to-rental as they make their journey to a new home, might help to nurture the relationship early at the rental stage, says Ken Laroza, director of broker relations for Zillow. He advises agents look at the relationship through a five-year lens, which promises to pay off in high business volume.
Regardless of whether a millennial renter buys from you or not, chances are good that they’ll refer you if you deliver the best experience possible, says Laroza. “Millennials tend to be really loyal to those who treat them well.”
Buying or selling a home is an exciting journey. But with so many different things to research and decide, it may be overwhelming. Especially when you aren’t familiar with terms commonly used during real estate procedures. Our experts are here to help! Let’s go through some of the most common real estate terms and what each one means for you.
Annual Percentage Rate (APR)
This phrase is mostly used for home buyers who are calculating their loan amount. Your APR is the amount of interest charged every year on the loan.
This is one of the most used words in a real estate contract or by a real estate agent. A contingency refers to certain events that must take place in order for the contract, between buyer and seller, to not be nullified or voided. For example, a buyer’s contingency may state that the seller must replace the water heater before sale is final. If the seller chooses not to meet this requirement, the buyer may pull out of the sale.
Often considered the most magical time of the year, winter can be a tough season for any kind of obligation. Relocating can get messy on any regular day, let alone during a snowstorm or cold day. Luckily, we have some tips to tackle some difficulties of moving during winter.
Watch the weather
If you’re relocating during winter, it’s important to watch the weather forecast. Although weather can change quickly and unexpectedly, you can try to monitor as best you can and plan to move on a day that is reporting a high percentage of no snow or ice.
Prepare the gear for moving during winter.
You can minimize all the risks by preparing the necessary gear. This mostly applies to the transportation vehicle for you and your belongings. Some things you may need are:
- Tire chains
- Aid kit
- Shovel for snow
- Tow rope
- Resilient window wipers
- Warm clothes and blankets
The journey in buying a new home is what many individuals dream of but, buying a home is not always easy and many long time homeowners can attest to that feeling. Owning your own home does come with extra duties and responsibilities. One of those responsibilities is property tax.
How much do you know about property taxes? What does it do, and what do you need to know about it when buying a home? If you’re a first-time homebuyer, budgeting the property tax cost is an important first step in knowing what you can afford.
So, let’s cut to the chase, clarify some things about property taxes and answer some common questions.
What Is a Property Tax?
Let’s identify first what a property tax is. A property tax is one of the long lists of government-issued tax to all its constituents who own a property, whether it be a house, a rental property or a building. Individuals and other legal entities, such as corporations, are charged with property tax.
With the global pandemic causing many home sellers to put their listing on hold or to take it off the market completely, right now is actually a great time to put your house up for sale. Although, COVID-19. caused weariness, it has actually not affected the market in a negative way like many thought was possible. Here are five reasons to pull the trigger and sell your home now.
Demand is High
The market has more demand than ever right now with not less people selling and more people looking to buy. With the pandemic, many people have resisted listing their home, making it more of a challenge for those looking for their dream place. Plus as more millennials join the market looking to buy for a growing family or a young professional purchasing their first home, there is a growing demand that is just going to continue into the upcoming months.
If you’re considering putting your house on the market, it’s never too early to start figuring out what it will take to make your home irresistible to prospective buyers. Amping up curb appeal isn’t all about the outside, as making your home more marketable is an inside job, too.
When you’ve got a longer list than budget, what are the must-do remodeling projects and what do you skip?
A real estate agent that works for a property seller is called a listing agent or a seller’s agent. They have a number of functions, but they can all be summed up in the fact that they are supposed to represent the best interests of the seller in all they do.
Knowing what listing agents do is quite beneficial, especially if you’re at the point of making a decision on whether or not to hire an agent to help sell your property.
This article will explain the functions a listing agent performs for a property seller.
Set a List Price
It is only logical to set a price for your property, one that you believe is worth the value of the property. Your listing agent would typically use a Comparative Market Analysis (CMA) to determine the list price of your house.
The list price would be based on an analysis of the local real estate market, its prevailing market dynamics and recent sales of the property in your area.
When the time comes to sell your home, there’s a lot that needs to be done. Many people get too overwhelmed and scared by the whole process. However, trying to make your home more appealing to potential buyers isn’t as complicated as it sounds at first. Here are some suggestions that might help take the edge off.
Don’t be subjective
The number one rule when trying to make your home more appealing to potential buyers is to avoid being biased. Try to objectively view the situation and understand the market and what sells. Don’t let your personal taste interfere with what the potential buyers will see.
A great way to do this is to ask someone who’s been in the business for a while. Taking advice from your real estate agent or broker is a good route to take. And there are surely some ways that you can let your own style shine through without it being overpowering. Balance is key.
The real estate industry is undergoing rapid change like never before. The pandemic has significantly reshaped how agents, third-party providers and clients transact. Clearly, the need for digital real estate tools has quickly escalated from a “nice to have” to a critical “must-have.”
From the West Coast to the East Coast, agents and brokers are reporting more buyers looking to flee the cities and move to the suburbs. But with inventory as tight as ever, multiple bids are increasing while days on market linger in the single digits.
Today’s buyers and sellers don’t only expect a frictionless, digital transaction experience — they demand it. With nearly every product and service available digitally on demand, consumers are used to clicking to transact, from reserving travel and buying a car to ordering coffee.
Recently, we polled top agents and brokers nationwide and asked them how they’re delivering that ultimate customer experience in today’s fast-changing environment. Here are their top tips:
1. Expedite the Offer
In California, Daryl Rogers, President of Better Homes and Gardens Real Estate | Reliance Partners, Roseville, CA, finds well-priced, quality homes are listing for an average four days on market.
Being a rental property owner is something many strive for in their lives. This is because much of the time, owning a rental home is a great investment. The responsibility that goes along with it is great as well, though. Owning multiple rental properties only ups the stakes. As with anything else, there are a lot of disadvantages as well as advantages. Let’s go through some.
The advantages of owning multiple rental properties
Having multiple rental properties has plenty of upsides. Looking at the positive side of things first will hopefully make you see that the flaws aren’t that bad.
It’s always good to have a passive income
If you own multiple rental properties and are able to keep them occupied, not only will you have a steady and secure amount in your bank account, but you’ll also have a passive income. This is certainly always welcome.
A possible business opportunity
A great thing about owning multiple rental properties is that you don’t have to sell only to tenants who are looking for housing. If your property is in a desirable location, you could always rent it out to business owners. This could be a great investment opportunity.