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Should You Get Into the Real Estate Market?


Two examples to help you decide if now is the time to enter the market.



 
Is now the time to buy a second home or investment property? Today I’m sharing recent examples of a client who bought a second home and one who bought an investment property to help you decide whether now’s the right time for you. 

" Average prices nationwide have increased by about 21%."


The pandemic made people need to stay home more, so many couldn’t wait to get away from home again when they could. A bunch of states had regulations, and plenty of hotels and airlines were closed for business. One of my clients looked into and recently closed on a second home about two and a half hours away in the desert. They have a pool, a different climate, a place to play tennis, ride motorbikes, and more. That’s what people are looking for—a place to drive away to and not have to rely on anyone or anything except transportation. 

Another client of mine just bought an investment property. When investing, you need to pay attention to the price point. Average prices nationwide have increased by about 21% to around $420,000. My clients purchased a duplex, which will have a positive return cash flow, and the amount of money they had to put into it was small. 

This is something to discuss with your financial planner and see how it may benefit you while the interest rates are still very low and there are multiple properties available for investors. There are currently more opportunities for investors because those who have been investing in real estate for a while are seeing such a rise in their equity that they’re taking advantage and selling, and you can benefit from that.

If you have any questions about buying a second home or investment property, feel free to reach out to us via phone, text, or email. We look forward to speaking with you. 

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Don’t Believe These 4 Misconceptions


Don’t believe these misconceptions about hyper seller’s markets.



 
Here are four misconceptions about a hyper seller’s market that you shouldn’t believe:

1. You have to have a plan to sell. It’s good to have some type of outline, but you don’t need to have it down to an exact science. A lot of sellers think they have to sell their homes and have an existing home available right away. However, it’s common for sellers to sell their homes, have a 30-day close, and then have a 30- to 60-day rent-back period. Sometimes, this rent-back period is free. In any case, this gives them time to figure out how to move into their next home. 

2. The condition of the house doesn’t matter. You always want to make sure your home is in good condition when selling, no matter what market you’re in. Even in this hyper seller’s market, your home needs to be in good condition. If you accept a buyer’s offer but they discover a whole bunch of problems with the home during the escrow period, they may back out of the deal. To prevent this, make sure your home goes through some type of inspection before selling (which you’d attend with your agent).

3. Price doesn’t matter. It’s true that if you list your home, it will likely sell quickly (hopefully with multiple offers). However, we’re seeing sellers get on the greedier side and list their homes above where they should be. The problem with this is that buyers have a certain limit, and if you overprice your home, they won’t even look at it. 
soon.

" You always want to make sure your home is in good condition when selling."


4. You can sell as is without any professional help. You might get a few offers by doing this, but there are a lot of things to consider when listing a home. For example, is it staged correctly? Is it marketed correctly? How will you deal with multiple showings the first weekend after you list? If you get multiple offers, how will you navigate through them and make sure you choose the best one? 

Selling by yourself is not a good idea. Get a professional to help you. You’ll have a much easier transaction and deal with far less stress. 

As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help. 

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What Buyers Are Looking for in 2021


Buyers are specifically looking for a couple of new things this year.



 
Today I want to talk about the top three buyer preferences that sellers should know about. When getting ready to sell your home, buyers are specifically looking for a couple of things this year:

1. Office space. Since COVID, the main thing buyers are now looking for is an office space where they can close the door and have some quiet while they're on Zoom calls. They want a nice background behind them without a lot of clutter.

2. Storage. Buyers want a nice organized storage place. This goes for all kinds of areas such as the garage, in the kitchen, and closets. 

3. Outdoor space. Having a place outside where we can get some fresh air is a huge selling point. These include backyards, a patio, or even a balcony. This is somewhere where people can get out and relax with comfortable furniture, plants, and maybe a barbecue.

If you have any questions or comments, reach out to me either by phone, text, or email. I look forward to talking with you soon.


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