S P E C I A L S E C T I O N : R E A L E S TAT E
faster. Most importantly, find an agent who will work on your
behalf. Ask friends and family for references of agents they’ve
used in the past. Look up their current listings to see if they align
with the type of home you want to buy or sell. This will also
indicate their knowledge of the market.
7 BUYING/SELLING: Get a second opinion.
When you have lived in your home for years, it’s easy to overlook
problems that potential buyers may spot right away. Have a
relative or trusted friend come over to spot any small fixes that
you can make prior to putting your home on the market to make
sure it’s in optimal condition prior to selling. When considering
buying a home, it’s also helpful to have someone who is not
buying the home go with you to take a look. He/she will be able
to point out potential issues that you may not see when trying to
make such an important decision.
4 BUYING: Protect yourself!
It’s easy to get wrapped up in signing papers and losing sight
of what you are agreeing to when buying a home. Fortunately,
contingency clauses can protect you from losing what is yours.
An example is a mortgage-financing contingency; if you lose
your job or your loan falls through, you’ll get your “earnest
money” back in full. Otherwise, you may be obligated to follow
through with purchasing a house you can no longer afford.
8 SELLING: Ignore the housing market.
Don’t waste your time watching the housing market for the best
time to sell. According to Investopedia, “it doesn’t matter what
your home is worth at any given moment except the moment
when you sell it. Being able to choose when you sell your
home, rather than being forced to sell it due to job relocation or
financial distress, will be the biggest determinant of whether you
will see a solid profit from your investment.”
5 BUYING: Enjoy the view?
It’s obvious that homes with a view can sell big. In fact, Realtor.
com states that homes with a view of the city sell the fastest,
with an average of 83 days on the market, while homes with
an ocean view sit for 98 days (mostly due to the elevated price
of oceanfront property). If you are in love with a home with a
view, be sure it is there to stay. Although you may see rolling hills
through your living room window now, who’s to say a real estate
developer won’t see that same space as the perfect opportunity
to build more homes? Check with your local municipality for
land use regulations to make sure your view will remain.
6 BUYING/SELLING: Your real estate agent
matters.
According to Zillow CEO Spencer Rascoff, research shows
gender matters when choosing a real estate agent. Rascoff says
men will get your home sold closer to asking price because they
are stubborn, while women will negotiate and close the deal
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9 SELLING: Will renovating always increase
my resale value?
Make conscious decisions when renovating your home. While
newer will entice potential buyers, be cognizant of what rooms
you update and how you do it. While updated kitchens will
increase the value of your home, be sure to appeal to a wide
range of tastes. A good place to start is with the appliances.
Realtor.com states that homes with stainless steel appliances sell
15 percent faster than those without. Updated bathrooms are
easier to satisfy a wider range of buyers’ desires for luxury, but be
sure to keep the colors neutral.