There is no denying that every home owner selling their property will want nothing more but to get the best price for the property that they are selling. This fact has thus led a lot of home owners to choose a real estate agent based on their being able to offer them the biggest valuation initially for the house that they are selling. But then, this is one very expensive mistake that most home owners have experienced.
When it comes to selling your house, what it is valued at is crucial. When the estimated value that is given to it is wrong, you will end up selling your house for a lower price than the actual value of your property. On the other hand, overpriced houses for sale are not too popular among most potential home buyers. With such prices, you will most likely wait longer periods of time before you can get a good offer or none at all. These are just some of the reasons why the real estate agent that you choose must be on that can get property valuation right.
Below are some of the key factors that help real estate agents be able to do the right valuation of your property.
1. Local amenities: Upon property valuation by the real estate agent, the location of the house for sale is one of the key factors that determine its current selling price. The selling price is basically influenced by how close the house is to local amenities such as banks schools, restaurants, parks, and shopping malls. A real estate property that has good transport roads will be priced higher in comparison to that which is located in secluded areas.
2. Size: A real estate agent will also consider the size of the house that you are selling when they are having your real estate property valued. The number of bedrooms that a house has affects its selling potential and price. In addition, the size of each room also assists in determining the buyer demographics.
3. Aesthetics: Basically, for a better priced property, it must be clean, tidy, and well-maintained. In addition, you can raise your selling price higher if your property is near water bodies or offers a great view. In the same manner as hotel rooms with a great view cost more, so do real estate properties that do the same or are near the beach or the river.
4. Kerb appeal: Real estate agents believe that how your property looks on the outside is equally important as how it looks on the inside. While the real estate agent will be assessing your outside surroundings, they will determine whether your property is standout in your neighborhood and if our front garden looks well maintained and neat enough. A house that offers an appealing exterior will be priced higher no doubt compared to that which does not.
5. Potential: Aside from the size of the property that will have some huge influence on its selling price, the flexibility of the property also matters. Real estate agents even make sure to determine if the property can still be extended. A house that has more potential to be improved can increase its selling price. Properties that can be renovated and improved can shoot up their selling prices easily.
One of the most sought-after properties in the present are the modern apartments. Usually, they attract young adults because of their being reasonably priced and their being in close proximity to amenities that they need most of the time. Apartments are also popular not just among young adults but also among other target groups that find them reasonable places to live.
Sadly, most apartments come with balconies that are very small. This makes it rather difficult for apartment dwellers to attain some kind of relaxation that these balconies should supposedly offer them. However, with just a bit of creativity, you can make the most of your apartment balcony space and make it the perfect spot for some R&R time.
Below are some effective ways to maximize the space of your apartment balcony.
1. Select only a few furniture pieces but make sure that they come with many functions.
With balconies supposedly being an area in your home that you can relax, they should have some loungers, tables, chairs, and many more. However, since apartment balconies only have limited spaces, it can be challenging to even just have more than one chair present in such space and still have an available walking space. To maximize your apartment balcony space limitations, find a table or chair that you can use as storage for other items of yours such as shoes, books, and magazines. You can actually get more multifunctional pieces as long as they are kept well organized to make some differences.
2. Introduce some warmth by having hanged plants and flowers.
In terms of plants and flowers and limited apartment balcony spaces, you might think that you cannot beautify this space of yours with some foliage anymore. Yes, the space is a bad idea for potted plants; however, you can have some plants and flowers that are hanging on your balcony that will not have any effect at all to you small apartment space. You have a number of options of hanged plants and flowers but just be sure to select the perfect number and sizes so that you will not be filling your small space completely with them. The whole point of getting hanged plants and flowers is making sure that your apartment looks more appealing and welcoming.
3. Improvise as necessary.
One of the perks of going creative with your apartment balcony space is that you can use this space for more than one purpose without having to spend a whole lot of your money for it. For example, if it seems impossible to get a set of chairs or lounger on your balcony, you can instead use some durable wooden crates for sitting purposes. They can just take up a small space of your balcony and give you a comfortable place in your apartment that you can relax. Just be sure to include some pillows and comfortable cushions on them. The open portions of your crates can also be used as storage for other items of yours. You can add a few books of yours or have some other items that can fit them stored there as you please.
With tiny apartment balcony spaces, it really just takes creativity and the abovementioned tips to get you started, and for sure, you can make the most out of this particular area of your home in no time.
Real estate marketing should not always be overly complicated. It also does not mean that you must always rely on the services of a real estate agent in selling and marketing your home. To better understand marketing in real estate, this article will expound about the matter mnemonic style. Here you can find some basic facts about real estate marketing that can better help you in your real estate endeavors whether you are a professional in real estate or just an average person selling your own property.
• Merits: First, make sure to clearly understand and identify what merits or strengths and weaknesses the house that you are selling has. How can you enhance on the positive of your home? How can you show your potential buyers that your home is the best choice out there? Why do you consider these factors your home’s merits or strengths? When it comes to effectively marketing homes, you have to sell its merits and not some technical information about it and the like.
• Assets; attention: Always bear in mind that for most people, a house is one of the biggest asset that they can ever have. Why must a potential buyer choose to live in your house? What sets it apart from other houses? How can you put some focus on the strengths of the home that you are selling?
• Relative: Know your competition in the market. It might look bizarre for most, but actually, as a home seller, you can benefit from attending open houses of other houses so that you can understand that local market better as well as do comparisons yourself. If you do this, you will be more willing, able, and ready to put a selling price on your house properly. How does the house that you sell compare to the other houses being sold in the local market? Be as objective as you can be.
• Knowledge: Every local real estate market has their own differences from the others. To get a better idea of the local market, make sure to talk with your real estate agent and professional about their insights of the local real estate market. This allows you be more realistically perceptive and have more realistic expectations.
• Energy; enrich: Find a real estate agent that is filled with energy and positivism and has an enriching focus. If the real estate agent that you choose is less energetic or not at all, then in turn, potential buyers will also not be too enthusiastic to work with them.
• Timely; trends; tailoring: Hire a real estate agent who is prompt so that you can benefit from every opportunity. He must make timely actions and decisions. Find someone who knows the relative trends such as your marketing options and avenues. You must find someone that can tailor their marketing plan to be fitting to your particular property.
• Insights; ideas: Go with a real estate agent that is not ashamed to share their insights and ideas with you. The best marketing approach will always be teamwork between the real estate agent and the home owner.
• Needs; niche: Does your home have a particular niche that will be attracted to it more? How might the home that you are selling fit well with the priorities and needs of your target market?
• Gain: And last, the purpose of your real estate marketing plan is to ensure to gain attention, views, and offers for the home that you are selling.
You see, MARKETING is crucial to selling your house in no time.
Some home owners face financially challenging situations that leave them with no other choice but to sell their properties. However, if a property is mortgaged to a particular financial institution, such institution also has the right to foreclose the said property. But then, you have what you call the redemption period wherein the home owner will still get a chance to buy back their house that was foreclosed. And yet, there are certain risks that you have to pay close attention to so that the stipulated time given to you can be taken advantage of.
First things first, you need to understand that the redemption period that is given to you is constrained by time. Basically, you will only be given a short period of time to buy back your house after the third party or buyer has already filed the pertinent paperwork to court. When the said period is finished, the opportunity to regain the ownership of the house in question will be forfeited.
Another risk that you will be taking involves the price that you will have to pay to regain back your ownership of the house. Generally, the cost of the house alone is not the only thing that you have to keep in mind. You also have to be paying for the documentation costs, taxes, and mortgage overdue. All of these costs should be paid by you during the given redemption period.
Third, there are personal risks on the part of the home owner who wants to buy back their house. One of which includes their capacity to raise lots of money for them to be able to take care of all the associated costs necessary to gain back ownership of their house. When they were facing their financially challenging situation, for sure, they also had to take care of other expenses such as school fees, credit charges, as well as unpaid utility bills. All of these costs are even just additional ones from the regular costs involved in daily travel and food needs.
Aside from those three major risks just mentioned, there are also associated risks that can just appear at any instant. For instance, most home owners must find another place that they can live in for the meantime when they still have not bought back the house that has been foreclosed or sold. Again, there will be additional expenses that will be eating up the amount of money the home owner is trying to raise to redeem their house. Nevertheless, there are rare situations where the third party will still allow the home owner to live in the house until it has been redeemed or up until their redemption period has expired.
Basically, the redemption period is akin to a last ticket to the best movie of the year. Yet in comparison to movies that you can just stream over the internet, house re-ownership can be quite tricky. It involves a lot of money, time, and effort. These three elements must be ever-present along with some perseverance so that the redemption period will be overcome by the home owners leading them to gain back possession of the property that they have grown with and created and shared memories with.
Whether you are selling your home to relocate or you are finally buying a home, you will have to decide in the end if you should be hiring the services of a professional real estate agent or just do the selling or the buying part all on your own. If you decide to hire a real estate agent, then good for you. If you think that you can just do everything on your own, then you might want to think again.
You see, according to recent statistics, people who decide to sell their own homes have been found to net less even after they are done paying for commissions. Furthermore, the process of doing the entire thing themselves has led them to become tenser; stressed out; and physically, emotionally, and mentally challenged. And so, if it comes to deciding if you should hire a real estate agent to sell your house or buy a house, then you must do so.
Today, there are a number of real estate agents that you can choose from. However, this does not mean that you should just choose anyone who claims to be the best out of the bunch. There are actually some key characteristics that good real estate agents possess, and you must be sure to find them in the real estate agent that you hire. Here are some of them.
• Attention, attitude, aptitude, articulate: When looking for a real estate agent that you can hire, find one that pays close attention to your needs and one that ensures to find ways to be of value to you. He or she must have a positive attitude and provides focus and benefits to you so that you will not have a hard time buying or selling a home. The agent must also have a well-developed aptitude. Furthermore, he or she must be very articulate in getting his or her message across and in inspiring and motivating their clients.
• Guarantees; generate interest; guardian: It is your right to hire a real estate agent that not just gives you guarantees but make sure to act on them. Guaranteeing does not mean however that he or she will have determined a fixed price for your house for sale or the house that you are buying or even know how long it will take to sell or buy your house. Guaranteeing here means that the real estate agent will do what he can and do all that he can for your best interests. Moreover, your agent must serve as your guardian, someone who looks after your best interests.
• Empathy; energy; emphasis; evaluate; excellence: The real estate agent that you must hire must be one that knows how to effectively listen to you and knows how to empathize with you. Your agent must possess an energy that not just comforts you but inspires you as well at the same time, he or she must attract others to be attracted to the house that you are selling, for instance. His or her emphasis must be on getting things done and getting them done the right way. A good real estate agent must not thrive on making empty promises but instead must know how to carefully assess your property and tell you what its strengths and weaknesses are. Lastly, find a real estate agent who does not just settle with being good enough but being excellent in every aspect of real estate.
Owning a home is one of the biggest investments that you will ever make whether you are buying a new one or building one from scratch. But still, no matter how much you save up to buy the house of your dreams, it is still impossible for you to pay for its entire cost in just one give. This is why home loans have come into the rescue for most potential home owners.
With home loans, you do not have to pay all of the money that you have saved in your entire life for the upfront cost of your home. Nevertheless, the entire process of securing a home loan can be complicated if you have no idea what you are doing. There are several factors that come into play and some things that you must know before you apply for a home loan. Here are some essential home loan facts you ought to know.
• Factors that affect your being eligible to a home loan
Calculating your EMI or equated monthly installment is the most effective means for you to determine your being eligible to a home loan. Usually, banks limit your loan amount to 40% to 50% of your income including your dearness allowance on top of your basic salary. They also take into account your credit standing. Basically, if you still have an outstanding loan, your loan amount will be decreased more. Furthermore, if you have a poor credit standing, the interest rate that you have to pay for your home loan will be increased. Simply put, if you have a good credit score, strong repayment capability, and stable income, you will have more chances of having your home loan approved. But if you have a poor credit score and only have erratic earnings, then most likely your home loan application will be disapproved. In addition, when you have a co-applicant, you will have more chances of getting your home loan application approved.
• Knowing your home loan options
Generally, banks offer two major home loan options in terms of interest and home insurance. First, you have the fixed interest loan and second, you have the floating interest loan. As the name implies, the fixed interest home loan option will have fixed interest rates that you need to pay as well as a fixed EMI via your loan tenure. On the other hand, the floating interest home loan option changes as per market conditions that lead to more EMI fluctuations. This is one of the reasons why the fixed interest home loan option has between 1 and 2.5% higher interest rate in comparison to the floating interest home loan option.
• Important things to remember about your interest rate
No matter which home loan option you choose, you still have the power to do some negotiating regarding its interest rate. Of course, the banks will always gain the upper hand of the deal; however, you can still haggle if you are a loyal bank client or have secured a savings account in this same bank. Just be sure that you have a good credit history so that you can make your negotiations easier. Also, word of advice, apply for a home loan at the end of the month. Why? Most banks have business targets, and during the last days of the month, they can be more flexible if they want to make business with you.
Moving is probably one of the most significant things to ever happen in one’s life that is filled with a whirlwind of emotions from being excited to busy to depressing to stressful. At times, things can get a bit crazy from going through your many closets and drawers and only realizing in the end that you have not opened any of them since your last move. You then proceed in figuring out which of your belongings you are bringing with you to your new residence as well as finding out the ways in which you can pack all of your belongings up.
All of these actions entail that you will be using up a lot of your time from day to night in doing all of these things just so you can finally move to your new location. And as soon as you arrive at your new residence, you then go about the process of unpacking all of your packed belongings and positioning them strategically in your new place all the while making sure that you have established yourself to be living in this new place and getting used to your new life.
Phew! Just by reading the above paragraph, surely, you are now having second thoughts if you should be pushing through with your relocation plans. Even so, the process of moving should not bring about a lot of stress on you. You can actually be more systematic in moving to another location. How is this possible, you might ask? The answer is very simple actually. You just need to hire a professional moving company. There are a number of benefits to hiring a professional moving company for your relocation plans that once you hire them, you will not think of going DIY again in moving and packing.
• Boxes: Forget wasting your time looking for the perfect sized boxes that work well for your belongings. A professional moving company will offer you a wide range of boxes that you can choose from for all of your belongings. Moreover, they also offer you with additional materials that will guarantee safe arrival for each of your belongings to your new home such as packing peanuts, tape, labels, etc.
• Stress less: Professional movers will take charge in packing all of your boxes and stacking them safely. They will also take charge in moving them to and from the truck using the right moving equipment such as dollies and handcarts as necessary.
• Time: Since professional moving companies do this work all of the time, there is no doubt that they can get the job done in no time unlike the typical home owner, most especially the first-time movers.
• Insurance: A professional moving company is insured. This means that your belongings will be properly protected by them all throughout their being able to render their services to you. So that all of your belongings will be kept safe, they make sure to use high quality packing materials. Furthermore, since they know how important all of your belongings are to you, they make sure to choose the best traffic routes so that they will not be facing surprises along the road while transporting your boxes such as potholes and road construction that will end up damaging your things.
If you are thinking of investing your money in real estate, you can start by buying some land or properties. However, you should not just buy any piece of land that you think will make you a lot of money. There are some things in particular that you need to take careful note of.
For instance, you have to be precautions in buying properties since there are now increasing cases of fraud associated with land buying where the buyer ends up losing more of their money and facing legal issues. But worry not, as long as you know what you are doing before buying any piece of land and you make sure that you do it legally, then you are all good.
Here are some crucial things to remember before you buy any piece of land.
1. Requirements: The first step to buying any piece of land is figuring out what you are looking for and what your requirements are. Start asking yourself important questions that answer what purpose you have for buying the land, what use you have for it, what are your plans for it, and what is your budget for it. You then next figure out if all of its associated costs will just fit well within your budget such as its legal proceedings, building procedure, the cost of the land, and many more. Last, make sure to ascertain if you will have plans of reselling the piece of land you have bought.
2. Right land: When buying a piece of land, you will generally be choosing between two types of land. The first type of land is one where there was once a permanent structure built on it or has one standing that has already turned dangerous but can still be redeveloped. The second type of land, on the other hand, is one that has never been touched by any structures and has not yet been developed such as lands in the countryside, forests, and so on. You have to choose either by taking into account your present requirements and plans.
3. Ways to buy land: The traditional way of buying a piece of land will be to go through the services of a real estate agent. However, with the rise of the internet, you can do your own research to know which lands are currently being put up for sale. Besides real estate agents, you can also check out lands being put into auctions. But then, auctions are done too fast, you might not have enough time to first do some research unless of course you have already been eyeing the piece of land for quite some time. You might also want to consider looking into companies that deal with gas, water, and electricity because they might have some extra lands for sale. Also, local authorities are another good source of legal lands for sale.
4. Other crucial factors you need to take into account: In order for you to acquire a piece of land legally, make sure to gather the necessary information regarding it. You should be able to check…
• If all legal titles have already been cleared off the property,
• If a reserved land is being put for sale that goes in the name of an ‘on-sale’ land,
• The history of the real estate agent, and
• All the documents that you need to proceed with the land buying.
If you want to take legal ownership of a residential property, you have to be well aware of the fact that the entire process can take a long time, usually over five years, and can be very costly. For five lots or less, the cost that you will have to pay for parcel maps can amount as high as 100,000 dollars. On the other hand, you can pay more than 500,000 dollars if you need tract maps for over five lots.
The potential size and the number of lots that you can create with your residential construction project will depend on your general and zoning plan, slope, health department regulations, and biology. You also need to think about paying for the costs involved in reports and studies, regulatory fees, processing, and engineering.
The reports and studies aspect include traffic, noise, biology, soils, archeology and anthropology, storm water treatment, and approval costs. After a map is recorded and approved, there will again be additional fees that you must pay including the following but can include more:
• Retention and drainage basins
• Potential greenhouse gas studies
• School fees
• On- and off-site mitigation land
• Physical secondary access
• Parks and recreation fees
• Annual bonding fees
• Fire fees.
Politics play a crucial role in getting the approval from your local planning commissions, city councils, and county boards. Your being able to support or oppose the public office will have some effect on the time when your hearing will be completed. They can be completed as early as four months or can take longer as a year or a couple of years but still cost more than one million dollars. For property owners, there are three essential factors that they need to keep in mind and they must do for their new residential construction projects.
1. Entitlement and sale of the property as it is. This option costs the least; however, it has the lowest price and only requires a short time for the property to be disposed. In the most uncommon of cases, the land can have a bigger value when it does not come with its own title.
2. Be part of a long-term agreement. If a home builder takes charge in paying for the costs involved in processing a tract map, an agreement will then be made with them. This option is the most common among new residential construction projects. This can take up to a maximum of 5 years to be done. After contingencies are approved, on a periodical basis, the buyer must make sure to release deposits that are nonrefundable to the seller. Once a final or tentative map is approved, that is the time that escrow closing happens.
3. The owner takes charge of the entitlement costs. This last option is more or less the same as the second option. However, what sets the third option apart from the second option will be the fact that the owner will pay for all the expenses and will have full control of the mapping process.
The outcome of each of these three options must be well thought of by you before you finalize what option you must push through. There have been some owners who did not seek some professional advice and decided to process the map on their own and have later on found out that they do not have the financial means to take care of their lots. Thus, for any new construction project endeavors that you have in mind, be sure to get the help of a competent engineer, a smart growth design principal, and a reliable contractor.
When you mention the term ‘luxury’, to most people, what they immediately associate it to will be the price. However, anything luxurious is so much more than just the amount of money you pay for them. Take, for example, luxury homes. Until this day, you cannot find one clear-cut definition about them since there are a number of factors that come into play to considering a home luxurious.
Even so, if you are on the hunt for a good luxury home that you can stay in temporarily or buy, there are typical features that are common between them. Have all of these features combined and you can get the luxury home of your dreams. The following are some of the typical features that luxury homes have.
• Paramount location: Luxury homes are basically found in highly sought-after locations like those found overlooking the sea or on the beach. Other locations include atop a beautiful city where one can overlook the gorgeous city lights while others include secluded mountainous areas. It really all depends if you prefer having your home in an urban or in a rural setting. However, luxury homes will always be found in paramount locations that is why high-end buyers easily get attracted to them.
• High price: Though price is not the sole factor for determining the luxuriousness of a home, you cannot deny the fact that all luxury homes are priced highly. Of course, different areas will have different prices but for luxury homes, you can always expect to pay a minimum of half a million for them. The prices can even move up to tens of millions all depending on the other factors that come into play among luxury homes.
• Superb amenities: Luxury homes come with the best of the best amenities that you can basically live your life fully by living in one. With these amenities, you no longer need to get them from outside services or professionals. Most of these homes already include their own movie theaters, arcade rooms, Jacuzzis, swimming pools, spas, gyms, and their own decontamination rooms. There are even some that really come with over-the-top amenities making them easily attractive to high-end buyers with their being convenient, self-sufficient, and unique.
• Outstanding quality: From decorations, construction materials, design, finishing, to appliances, you can rest assured that each element has been selected out of utmost care and importance. All of these elements of a luxury home are made and purchased above standards so that you can really boast of them. With luxury homes, you typically see Venetian plasters, crystals, marbles, and hardwoods.
• Privacy: High-end buyers consider their homes as their private place that is why luxury homes are highly coveted because of their being highly exclusive. Some luxury homes are usually found in large secluded areas. If not, they must have tightly gated entrances, high walls, and foliage covers and some with guards to ensure that the luxury owner gets the kind of peace and privacy that they deserve and they have highly paid for.
Indeed, luxury homes have a lot of things to offer to different high-end buyers. What is most important is that as long as you have the money to buy them, then surely, you can enjoy them.