Buying a foreclosed home is easy, right? After all, they sell for pennies on the dollar, right? Well, that could be a false assumption. Buying a foreclosed property appears easy on TV, but in reality, it can be overwhelming. Foreclosure sales continue to decline in the market from 38.6 percent in 2011 to 14 percent in 2017 but ticking up a bit in 2018 according to Attom Data Solutions, a national property data company. As foreclosure sales drop, competition for these properties become stiffer and more complex. And as home prices increase in most cities, buyers often turn to foreclosures … [Read More...]
"Staging" a house means to prepare it for sale in ways that make it more attractive to potential buyers. Homeowners can do much of this staging work themselves and should get suggestions from their real estate agent. They can also hire a professional to do the staging work for them. Value-Added Staging A study of 4,200 sold homes, conducted by Home Staging Resource (HSR), found that 85% of the staged homes sold for 6% to 25% more than a home that was not staged. Forbes reports that 95% of staged homes sell in 11 days or less. This is 87% faster when compared to the time it takes, on average, … [Read More...]
Last week's economic readings included readings from the National Association of Home Builders Housing Market Index, National Association of Realtors® report on sales of pre-owned homes and Commerce Department readings on housing starts and building permits issued. Weekly reports on mortgage rates and first-time jobless claims were also released. Housing Market Challenges Catch Up to Builder Sentiment According to the National Association of Home Builders, overall builder sentiment fell six points to November's reading of 60. This was the largest decline in builder sentiment since 2016. … [Read More...]
Picking out a new flooring can be exciting. After all, as anyone knows, new flooring in a home or business property can completely change the entire atmosphere. A common question asked by commercial and residential property owners is "Should I go with laminate or hardwood flooring?" If you have found yourself asking this question, understand that both types of flooring materials each have their own pros and cons. For the most part, hardwood flooring tends to be more expensive than laminate but this isn't always the case. Let's take a quick look at the benefits and disadvantages of laminate and … [Read More...]
The real estate market is quite different from other markets and can be confusing for even the most experienced buyers and sellers. You will need the help of a real estate agent whether you are an experienced buyer or doing it for the first time. Even with the help of an agent, you can educate yourself on some of the basic elements of a real estate transaction in order to make yourself more comfortable throughout the process. Here are 3 things that you should be aware of before you start a real estate transaction: Market Demand And Sales Price There are many factors that determine the … [Read More...]
Your home's energy rating is an evaluation of your home's overall energy efficiency. If your house's rating is high, it means your potential for energy loss is also high. Bringing your rating numbers down means that your home is becoming more energy efficient. Your home's energy rating is based on several things. When your energy company does a home energy audit, they are looking for ways that your home or its components are wasting energy. A low rating means that a home is more energy efficient than one with a higher number. For example, if a home is rated at 70 on the HERS Index, it is … [Read More...]
