Do we need home selling tips just for 2018? I think we do.
Our focus is 2018, the year of more competition and listings. The economic circumstances, taxation issues, price trends, migration, create unique forecasts for each housing market in 2018. To sell at a good price in 2018, you’ll need some strategy and tactical sales excellence.
Even in the best cities, prices are flat and homeowners will have more difficulty persuading buyers or property investors to buy their properties.
The tax situation is less profitable, the US dollar is falling, new home construction is up, the stock market is wild, real estate investors wary, and the economy looks solid.
As you’ll read in the home selling tips, you can have your cake and eat it too. Let go of all the “compromise” talk and know that you can get the maximum prices your home, cottage, condo or land is worth. Everyone knows real estate is precious and governments are committed to constraining supply.
When is the Best Time to Sell My House?
Timing your home sale is important, and asking “when is the best time to sell my house” is a wise question. Make sure you know all the time related issues to seasons and the economic trends happening now.
How to Start a Bidding War?
At some point, you’ve quietly thought about how to start a bidding war. Selling at over asking price is common, but with top notch real estate marketing strategy and a knowledeable Realtor, you can ratchet up your selling price.
Which Renovations Increase your Selling Price the Most?
When you’re planning the sale, you know buyers are hungry, but maybe during negotiations they cite how your house is not in good condition. Worse, maybe a good number of prospects online are turned off by its appearance? Instead of letting that happen, and just dumping your home on the market, you might discover which house renovations increase selling price. Make the most of your reno budget.
Should you Sell Your Home Fast or for a Higher Price?
Do you know how Realtors selling strategy? You have a choice when you’re working with a Realtor, whether to sell it quick or take your time with marketing and build interest to a larger pool of buyers. Most Realtors use a blitz type of selling strategy where they maximize the impulse or desperation of buyers.
They might push it all into one intense weekend showing where it’s organized like an auction. Buyers see each other want your home and they might get emotional and start ramping up their bids, well over asking price. It works and clients get the picture that the Realtor has done a fantastic job of creating buyers and whipping up frenzy.
However, if the property has all sorts of flaws, is in a weak neighborhood, and it’s not high season for selling, the home might not sell. If the quick blitz backfires, you could see your selling price rocket downward. Anyone can sell during high season, but the Realtor who can sell you house now, is a good one.
Consider getting that kind of Realtor, create a plan, and do a blitz over 3 weeks. The best buyer prospects will hang on if they know you’re doing a 3 week blitz. You won’t lose them and instead you could enjoy 3 times the buyers and bids (over that 23 day period). In fact, the collective effect on the final winning price could be staggering.
We’ve all seen homes sell for exhorbitant prices, even more than double the home’s value. You might want to tap into that craziness and get some extra money for your kids/grandkids education expense.
The above posts offer extensive home selling strategy and selling tips to help you reach a bigger, targeted audience, give them what they’re dreaming about, encourage more and higher bids, and help close the deal with a record high price. Hopefully, the media will report your selling success like you were a star Mega Millions winner!
It’s still common to hear of house and condo fires where the home owner was not properly insured. Less common yet on the increase is claim denied.
Yes, besides getting a lowest quote for your home insurance, you should ensure you have the appropriate insurance coverage. With that assured, you can be confident you have all the many benefits of home insurance.
Homeowners coverage provides protection from financial loss due to accidents, theft and damage. Most home insurance policies also cover detached structures such as a garage, tool shed or gazebo and personal possessions.
It’s a vital type of financial assurance whether you own your home or not. All home insurance companies and coverage aren’t the same. You must shop for the coverage you need just as you do with car insurance.
Getting the Best Home Insurance Quote
Your home is your sanctuary. Yet, there are so many threats that could be difficult to recover from. A good quote is like money in the bank. Found the best car insurance or the luxury auto insurance you need? You can combine your home insurance with auto insurance for greater savings. If you’re buying home insurance, you might as well combine your insurance for up to 15% savings. See the usage based auto coverage as well.
What Home Threats do you need coverage for?
fire and smoke damage
lightning and gas explosions
property damage from hail and windstorms and tornados
roof damage from snow, ice and sleet
water damage inside your home
lawsuits and legal defense
Optional Coverage on Home Insurance Policies
home claim forgiveness
Home Insurance Checklist
The insurer and insurance agent will look at some standard factors about your home to determine liability.
Number of stories in the house
Style of the home whether bungalow, split level, condo, condition of building
Number of occupants
Type of House Foundation (basement, concrete slab, etc)
Age of the home
Total square footage (finished living area)
Finished basement square footage
exterior wall and siding (vinyl or wood, brick, stucco etc)
Type and condition of roofing (asphalt shingle, cedar, tile etc)
how far the fire hydrant is located from your home
how far the fire hall is located from your home
condition of the home’s electrical wiring
condition of the home’s plumbing
type of heating used in the home (gas, electric, wood stove)
Will Your Home Insurance Cover You?
If your home was hit by a severe windstorm or tornado and was flooded, would the damage be covered? If your home’s foundation was cracked by tremors from geologic fracking activities, would it be covered? Are you covered for a hurricane for certain? If your guest was staying with you for 4 weeks, and were left alone in your unit, and they started a damaging fire in the kitchen, would you be covered? If you were growing marijuana in the home, are you covered from damage from the operations?
When you’re considernig buying home insurance, it’s also important today to understand the details of your policy. Read carefully, because insurers are denying more claims. From unreported information, to fraudulent claims by property management companies, to illegally using the home for a business, insurance companies are getting strict about fraud.
Identity theft insurance is a handy benefit too. Victims of identity theft can suffer severe damage to their credit rating and might not be able to repair it easily. If you feel it’s possible to ruin your credit rating and create damage to your reputation, such protection can be wise.
Coverage from being sued is important. Call it financial disaster insurance.
Average Cost of Home Insurance
The average cost for home insurance varies from about $800 to $960 per year according to one source. In the US, the average is $1000 with some states such as Florida and Texas having premiums are $2000 per annum.
Oregon, Idaho, and Delaware have the lowest home insurance.
Check insurance providers out and get plenty of home insurance quotes. It’s the only way you have to save your money and get the right coverage. Avoid banks and look instead to insurance brokers to get access to the best rates possible.
The housing market in Metro Boston is back on track and looking healthy for 2018. A number of factors are driving this recent growth. The prediction is that prices will rise in 2018 as they will in most of the US housing market.
The reason for the unusual late season surge is due to a big pent up demand from homebuyers and plenty of foreign real estate investors. Low mortgage rates, a strong economy, and the inventory of homes for sale is bolstering sales.
The 1,101 single-family detached homes sold in October 2017 was the fourth highest sales total on record for the month and was a 14.3 percent increase on the 963 homes sold in October 2016 – GBAR report.
Home prices in Boston in October according to GBAR rose 8.2% and condos rose 6.6%. According to Zillow, home prices are forecasted to climb another 5% in 2018.
Home prices grew 3.1% over the last 12 months in Metro Boston and 7% in the city of Boston itself. NAR reports the average home price was $633,000. Zillow has the average detached house price at $544,000.
As the graphic below shows, prices have been rising fast since 2013. The trend looks the same for the next 12 months based on housing constraints, demographics, and a positive economic forecast.
This chart below courtesy of Realtor.com shows home price growth in Boston’s largest communities.
Avg Home Prices
Average Home Price 2014
Forecast Price end of 2108
Take a good look at this heatmap of rental prices, and it might give you a good idea of home prices as well. The further you go from Downtown Boston, the more likely you are to find affordable homes. Be forwarned of Boston’s congested, time consuming commutes to which I can attest are as bad as any.
Boston Home Prices Not all That Severe Compared to California
Too many reports have it that Boston’s real estate is extremely unaffordable, but take a look at prices in Los Angeles, Washington DC, and New York. Compared to the Bay Area and LA Home prices, Boston’s real estate looks very good, even for buyers.
Investors might want to review properties outside of Boston city such as Easton, Lawrence, Worcester, Lynn, Salem, Stoughton, Framingham, Brockton, and Dedham. They’re nice communities and there’s plenty of property to build on.
Boston has a strong regional economy bolstered by transportation, tourism, financial services, and increasingly venture capital. Boston is becoming the Silicon Valley of the north with major influx of funding for startups in FinTech, MedTech and EduTech. Ultimately, all decisions to buy a home in Boston relate back to the US economy, US housing market, and the Massachusetts economy.
Boston’s Powerful Economic Engine
Boston’s economy is a power house yet restrictions on immigration will retard its output. Retiring babyboomers (although many are continuing to work) and a full employment situation mean growth will be constrained by a lack of workers, including skilled workers from other countries.
It’s good news for workers in other cities and states who need jobs. If you can find somewhere to live in Boston, you should have little trouble finding a great job.
Employment and Wages in Massachusetts Will Rise in 2018
Good news for workers is that wages are expected to grow 4% which will result in higher home prices. The unemployment rate will fall to 3.7%. Higher costs for wood will push home prices up further. A good strategy might be to buy soon because all factors point upward.
The real estate market et al, is expected to grow 2.2%. All of this will heat up the Boston market making housing more unaffordable. And just like California, workers will be willing to relocate further from the city to buy what they can afford. And Millennials do want to buy homes or condos with their growing wages.
Finding a Home In Boston’s Many Neighborhoods
If you’re thinking of a move to Boston, you’ll want to scout out the most affordable neighborhood for you and your family. Prices vary a great deal. NAR reports these recent prices:
Units For Sale
Units For Rent
Median Listing Price
Back Bay East
Back Bay West
With the Boston housing market looking so good for 2018, and with employment/and economic strength so positive, it might be a no brainer to move to Massachusetts in 2018.
Stuck hunting for homes for sale in Los Angeles without much luck? Take a look below to find great sources of the best Los Angeles homes for sale in 2017. And check out the Realtors listed below to keep current on homes that are never listed.
If you’d like to get access to the best pocket home listings, you need to be in touch with a number of Realtors in the Los Angeles areas you’re interested in.
There are at least 10,000 homes for sale in Los Angeles listed on homes.com alone and zillow has 8,000 listed. That’s a lot of houses for sale! But that’s only 60% of the available ones. The LA house you’re looking for may never be listed. You need to be on the inside beforehand to get your bid in.
You might see a better result overall if you follow my homes for sale search strategy. Whether you’re looking for a detached house, condo, townhouse, or rental property, a thorough plan for searching is a must. Without it, you’re not cheating yourself out of the very houses you’re hoping to get.
There’s 3 sources of non mls listed homes in Los Angeles — Craigslist, ForSaleByOwner, and Zillow.
Most people from the US, UK or other countries like Toronto a lot. One thing for sure, they’re coming here to buy homes and property. The really smart ones will buy property. Because, property is really rare and can be more easily built to purpose.
Yet, the real demand is for homes. New homes are purchased very quickly in the Toronto area. They’re a rare find. While you can find new homes for sale in Mississauga, Newmarket, Aurora, Bradford, Vaughan, Richmond Hill, Markham, and Milton, an older home in an established neighbourhood provides the real comfort you’re seeking. The strong interest on my site for homes for sale in Bradford, Newmarket, Aurora, and Vaughan reveals that many Toronto homeowners are looking to sell their $1 Million dollar home and move north.
You won’t have any trouble selling your Toronto home. There are all cash buyers from countries around the world as well as buyers right here in Toronto. What you need help with is finding a new community and neighbourhood, and plan how you’ll invest the winfall from selling your home. The key is to find a good Realtor™ in Toronto to help guide your choice.
I’d like to Welcome visitors from the Middle East, China, Malaysia, Germany, and Hong Kong. Your choice to invest in Canada and move here is good for you and good for us. Truth is, foreign investment in Canada is at an all time low and this is hurting our economy. An improving economy, lower Canadian dollar means you’re investing in property that will appreciate.
These problems will be resolved soon, as the US begins to bring jobs back to its country. Selling your home and buying one in Canada is wise – Canada will benefit from economic and cultural improvment in the US regeneration in the US. The US has had terrible troubles in the last few decades, but looks to be ready to climb out of their depressed state.
Canada is safe, healthy, and different races and nationalities get along together as well as in any country in the world. Let’s not forget that Canada is a capitalist country and it is competitive. Come here with an open-minded, entrepreneurial attitude and you’ll fit in nicely.
What are The Best Neighbourhoods to Buy a Home in Toronto?
There’s no real answer to that question. I know people living across the greater Toronto region and each of them believe they live in the best neighbourhood. Your choice of where to buy a home here will be conditioned by where you want to work. Transportation routes aren’t good. I worked 30 km from my home and it was a 1 hour commute to work every day. When it snows, it’s worse.
A huge number of people work to downtown Toronto, which may appeal to you if you’re from a crowded city in China or Hong Kong. There are a lot of existing condos and many new ones being built. I have friends from Hong Kong and China who live well north of Toronto in Bradford, Aurora, Newmarket. Have a look! They’ve purchased large detached homes and they enjoy the more rural lifestyle with clean air and very good schools for their kids.
Cities such as Newmarket, Vaughan, Milton, Oshawa are in very high demand. Homes in some Toronto districts are pricey, but likely not out of your range. If you can spend $2 million+, the area of King City and King township may interest you. This is where the wealthy are moving to. Magna International is an auto parts manufacturer in the area. This company is set to explode in growth due to its supply of parts for self-driving cars. Magna’s new headquarters will be in King township (north of Vaughan, west of Aurora)
If you have a modest budget, homes in Bradford, Orangeville, Stouffville, Keswick may have the least expensive prices for detached homes. For find condos for sale, Mississauga and North York are your best choices. Toronto and Mississauga are large cities and there are condos for sale across them.
If you need help with finding Toronto homes for sale, and advice on buying a home in Toronto, please Contact my business partner Damir Strk (homesforsalegallery.ca) for reliable, trusted assistance. His experience with the Toronto and Mississauga real estate market will be a big asset for you as a buyer or real estate investor.
It’s a rosy outlook for the housing markets in America and anyone buying real estate. Prices have moderated, new city markets are catching investor’s attention. However do you know which are the best cities to invest in real estate in 2018?
Do you have a strategy to buy in the best cities, use a property management company or use property management software to run your portfolio.
You’re just about set to make 2018 a great investment year. Have you looked at the forms of property investment should you choose — rental income suites, apartment buildings, or student housing reits? Open your mind the right type of property investment in the right city will outperform everything else.
But the Bay Area isn’t the only city with potential. Dallas, Houston, Austin, San Antonio and Fort Worth are getting special attention these days. Texas is growing. Michigan has huge potential. Even Boston has potential. Businesses are relocating to these cities for a lot of reasons.
In this era of investment, the best property investments may be in other cities. Even if you intend to stay close to home, knowing what’s going on in other states might provide a superior return on investment.
As you may have read in my very popular post on US Housing Predictions for 2018 to 2020, the US housing market is hot and some cities are hotter than others. No housing crash is forecasted. The list below of the top 80 cities to invest in real estate represent your best opportunities for high returns. Even normally depressed quiet markets are coming to life and beginning to catch investor’s eyes. It’s good news for Michigan, Florida, California, Texas, and New York and even better for real estate investors in 2018.
Record Demand for Home, Condo and Apartment Rentals
The difference in this latest real estate rebound is the number of Americans renting and still needing to rent a home or condo. That’s created the incredible income investment opportunity called rental income investment properties for passive income investments or self-managed property investments. 30% to 40% returns are not unheard of. It’s once in a lifetime wealth building. The kind of cap rates major investors can only dream of. Get some tips on how to do homes for sale searching better.
Scorching hot opportunity in the best cities! Will the hot markets of San Francisco, San Jose, Silicon Valley, Phoenix, and Los Angeles do as well as expected? Those cities with the highest home prices are not your only option. There’s plenty more towns and cities across the nation where you can buy rock bottom and sell high including this list of real estate by zip code. Cities you’ll read about below with lower home prices and rising employment rates may be your best bets for 2017 to 2020.
One high performing rental income related opportunity to investigate is student housing investment in Vancouver. The student housing market in Vancouver is like no other place. Foreign families like Vancouver BC in Canada for many reasons. And the Canadian government is raising the limits on foreign students and on post grad immigration. That means lots of demand coupled with high rents which translates to big profits. A company called CIBT has dominated this sector and is growing fast. You can invest with them like a REIT.
Sharing is Good for your Professional and Social Life!
Make sure others learn about the once in a lifetime opportunity in real estate investment with rental properties.
With strong economic growth as certainly continuing, rental income investment offers multiple ways to grow revenue. And your property may look even better to another investor when you sell. Lets see what the experts predict and what the stats say about the best cities and zip codes.
Growth in rental demand was largest for people with incomes lower than $25,000; a group that accounted for four million new renters over the past decade.
Growth for people with household incomes over $50,000 accounted for 3.3 million new renters.
There was an increase of 1.6 million renters for those with incomes over $100,000 a year.
The amount of rental stock also grew, and the single-family house share of the market increased from 34-40% of the total rental stock
Vacancy rate was less than 5% in 75% of the United States largest cities by 2015.
Share the Home Finding Machine — the ultimate source for searching for Homes for Sale anywhere in the US or Canada. Help your friends find their dream home!
Skyrocketing Home and Rental Prices in California are a Continuing Allure for Investors
In major urban areas such as San Francisco, Los Angeles, Oakland, Boston and New York, the demand for rental properties is skyrocketing. Investors might see ROI of 30% or more on rental income property and that beats any stock market these days.
Foreign buyers too, are purchasing lower priced homes now, likely because of high prices on luxury homes along with the fact they can rent them out — passive income which is a hot topic for babyboomers in particular. Realtors are seeing a much different type of buyer today and they need to keep up on how competitive properties are in other cities in the US and Canada. Investors just want a great return.
Home prices are rising everywhere, but what makes San Francisco so hot is its lack of housing stock and a booming job market. Where there is little growth in new housing development together with a healthy job market and a good demographic (millennials who can’t buy) the demand for rental housing has to explode.
Experts try to explain away this demand by blaming speculators and high housing prices, yet the driver of rental demand in San Fran is too many employed people with nowhere to live. And wages are rising. Silicon Valley’s rental market is so tight, there’s an overflow to Sacramento and other inland cities.
In-migration has been strong at a time when millennials are leaving home, contributing to rocketing apartment and home rental costs. This is fueling the tremendous demand for investment income properties. With no one building new homes and the government not acting to help, it’s up to private investors to take the helm.
With crazy high ROI, we’ll see rental income investors and developers race into these regions to build new properties. It’s a great investment situation for Americans, investors and realtors.
San Francisco is one area however that might not benefit. Its strong economy is driven by large tech corporations that add value to imported technology and products manufactured in China. Which is why Silicon Valley is hostile to Trump. California’s economic outlook is still very bright, but it’s low potential rental income outlook could send investors over to other US cities to invest in, such as those in green areas in the charts below.
Rental Income Property Investment Opportunities
With or without Trump, the US economic outlook is good. The outlook for rental income property is exceptional. Realtors and investment advisors should be looking hard at this market. Even babyboomer investors are looking at the potential of retirement income. Many babyboomers are a little nervous about how they’ll fund their “stay put” retirement plans.
They’ll need extra income to stay put and revamp their home over the next 30 years, and they may look to rental income to get that money. A percentage may just sell their home and leave it to a developer/investor to turn it into the multi-family unit. That investor might be you.
Here’s Realty Trac’s outlook on the best US cities to invest for rental property income
Complicating your investment decision is another set of statistics from Realty Trac that shows the west still has the highest returns currently but the green zones are predicted to perform better.
How about a 32% Yield on a Single Family Home?
(Screenshot above courtesy of RealtyTrac single family rental market reports)
Top 80 Cities and their Potential for Passive Rental Income ROI
These converted stats in this chart from Smart Assets are very insightful. They used U.S. Census data, to calculate the price-to-rent ratio in every U.S. city with a population over 250,000. This is their list of 80 US cities below with the worst potential for rental property income investment appearing at the top (The ones at bottom such as Detroit have better potential, unless employment fails to recover in Michigan).
US Cities with Population above 250k
(for a $1,000 Rental)
San Francisco, California
Los Angeles, California
New York, New York
San Jose, California
Long Beach, California
Washington, District of Columbia
San Diego, California
Jersey City, New Jersey
Chula Vista, California
Santa Ana, California
Colorado Springs, Colorado
Raleigh, North Carolina
Albuquerque, New Mexico
New Orleans, Louisiana
Virginia Beach, Virginia
Newark, New Jersey
St. Paul, Minnesota
Durham, North Carolina
Las Vegas, Nevada
Greensboro, North Carolina
Oklahoma City, Oklahoma
Charlotte, North Carolina
Kansas City, Missouri
St. Louis, Missouri
St. Petersburg, Florida
Fort Wayne, Indiana
El Paso, Texas
Fort Worth, Texas
San Antonio, Texas
Corpus Christi, Texas
Buffalo, New York
What About the Local Economies?
Last year’s report from Millken research reveals the cities with the best performing economies in 2015. This was put out in December 2016. Florida cities are showing a marked rise. Recent reports focus on the apartment rental prices in San Francisco, Sacramento, and San Jose as offering outstanding returns for investors.
And this is Millken’s list of worst performing cities, likely the ones you might avoid.
Screenshot courtesy of Millken Institute. Read the detailed Millken 2015 Best-Performing Cities report with rankings by economic component. Excellent insight to help you fine tune your rental income property investment choices.
Their interactive map of US cities with the best economies below is a very helpful tool to help you measure the investment prospects of one city versus another.
In this video below, Mike Hambright talks about apartment rental markets, and how to make money from cash flow and property value appreciation.
Are There any Warnings?
This graphic from Coreglogic warns about overheated city markets. Yet it also shows how markets like Silicon Valley, actually has lots of room for rent rate growth. And New York has the lowest rent rate to home price ratio.
Screenshot courtesy of Corelogic.com
There are so many real estate investment opportunities in the US and in Canada too. Hopefully, my amateur US housing forecasts, predictions and unguaranteed advice will help you find those opportunities for the best upside in cash flow, safety and equity appreciation. Be careful with any investment. Do your due diligence.
The Net Benefit of Real Estate Investors – $9 Billion!
A joint survey by Bigger Pockets and Memphis Invest revealed some fascinating insight into the attitudes of real estate investors and their impact on the US economy. They concluded in their 2014 report, that 28 million real estate investors have a $9 Billion+ effect on the economy. The survey results are displayed in the infographic below.
This really is timely and newsworthy. The numbers in 2017 might be even higher. Add investment in new multi-unit rental property and commercial real estate and the numbers are astonishing. If money begins leaving the stock market and pours into the housing market, how will this affect your own best investment picks?
In the past ten years, investment has been focused on electronic technology and software and with that, the US economy hasn’t fared well. Housing is something the US has always done well and it looks like the general population is about to get wind of this fact.
The spin off investment in furniture, appliances, home servicing, renovation, new school construction, new retail establishments, and more creates jobs in the US and further investment within the US. Is Donald Trump ready to capitalize on this basic and proven economic process? Quoted in a Bloomberg report, Robert Shiller says the US could be in for boomtimes and that means lots of new developments and higher home prices.
Perhaps this is the signal we need to put more investment dollars into real property, whether for buying as an income property investment or in new homes to live in. This infographic offers some excellent insight into investor profiles, risk tolerance, rental price predictions, and more.
Trump: Responding to the Housing Crisis
It’s hard to argue that there is a housing crisis across the country. Even in Canada, with its limitless supply of land, there is a housing crisis too. So we know there is and was something very negative that has been suppressing investment in real estate in North America. This could be about to end with the Trump era.
It’s still uncertain as to what he intends to do, and he probably hasn’t decided what to do. It will all play out in real time. Investors, governments, builders, renovators, realtors, and mortgage agents will have learn, react and plan on their feet. So, it’s an exciting time where everyone will have their values and understanding of the economy, housing market and real estate investment wisdom challenged.
There will be some big failures in the coming years too as Trump further drains the swamp. Old and young investors alike will find the new, clean swimming pond frighteningly responsive and hazardous with all-new predators and regulators. They all want a piece of the housing pie too.
Is 2018 the right year to buy rental income property? Which are the cities with the best return:LA, San Francisco, San Diego, Seattle,Phoenix, Denver, Chicago, Boston, New York, Dallas, Houston, San Antonio, Austin, St Louis, Minneapolis, Green Bay, Charlotte, Tampa, Jacksonville, Miami, Orlando, Toronto, Vancouver, Anaheim, Beverly Hills, Malibu, San Bernardino, San Jose, Fresno, Santa Clara, Sacramento, Mountainview, Palo Alto, Portland, Washington, Atlanta, Nashville, Sunnyvale, Salt Lake City, Riverside, Rancho Cucamonga, Costa Mesa, Oceanside, Carlsbad, La Jolla, Escondido, Riverside, Hartford, Raleigh, Albuquerque, Glendale, Long Beach, Huntington Beach, Kansas City, St Louis, Stockton, Scottsdale, Indianapolis, Columbus, Fort Worth, Chula Vista, Escondido, Santa Monica, Miami Beach, and Honolulu.
If you feel the joy of travel, your favorite TV show is Hawaii 5-0, you have fond memories of Danno or Don Ho, and you love golf, surfing, cycling, hiking, and living in open air homes with sweeping views of the Pacific Ocean, Hawaii is likely very relevant to you. I’ve never been to Hawaii, although I had a Hawaiian client at one time, and would have enjoyed the visit to that fantastic island.
Friends have told me of a number of adventures they had living there and visiting the Hawaiian islands. From the Hana Highway to the Manakea Observatory, there’s plenty of adventures. Here’s a few photos from professional photographers and designers who feature homes in Hawaii. It’s impossible to beat Houzz.com for spectacular indoor shots of beautiful homes. Drown your eyes in these elegant interior and exterior views.
I welcome all inquiries from businesses in Los Angeles, Phoenix, Denver, Seattle, Chicago, Boston, New York, Dallas, Houston, San Antonio, Austin, St Louis, Minneapolis, Green Bay, Charlotte, Tampa, Miami, Orlando, Toronto, Vancouver, Montreal Calgary, Kelowna, Mississauga, Anaheim, Beverly Hills, Malibu, San Diego, San Francisco, San Jose, Sacramento, Mountainview, Palo Alto, Portland, Washington, Atlanta, Irvine, Nashville, Salt Lake City, Riverside, Glendale, Oceanside, Long Beach, Huntington Beach, Carlsbad, Santa Clarita, Escondido, and Honolulu.
Well, if you’re reading this blog, then you may be considering selling your home, and the market appraisal is one of the first tasks to get done. You’re wondering “what will we get for our old place anyway?” And then that will beg your next question: how do we increase the selling price of the home?
Welcome, and I hope you’ll surf around and learn all about choosing a great real estate agent and getting the best results, in terms of price, professionalism, and moving onto the next phase of your life.
The essence of real estate is feeling good and finding the very best lifestyle for you. Having a home appraised well is key to establishing the right selling price. And it’s the funds you’ll be starting with on this next exciting phase of your life.
Were you aware that you can actually get a free home market evaluation online? See the one below from Zillow. Or, you can do a Google search for [Realtor + market evaluation] and find a realtor who is interested in providing that service for you.
What’s so nice about about using Google to explore real estate topics, such as finding reputable realtors who are motivated and fun to work with, is that this is part of your journey. Google is making it easier, giving you endless education and insight into the real estate world.
If a Realtor ranks at the top of the results, it’s a good sign they want to work with you. It’s not easy to appear at the top of Google search results so you know they’re confident, put the hard work into it, and want to be successful. That desire for success is a good sign, not a sign of greed.
I Want to Get the Best Price Possible for my Home
And you should get the best price. That home and property represent a lot of daily toil on your part for year on end. Never forget that. Don’t give away value you created. You worked hard for years to make your mortgage payments and it is your investment. Don’t let anyone tell you otherwise. If you want to sell it for maximum price, you’ll want to use a realtor who has a habit of selling homes for over asking price. In today’s market, you’ll probably get it.
You’ll need a realtor and perhaps a renovation/designer to determine what could be fixed up to create an even better price and be sure to get it sold fast. The speed of the sale might save you some misery.
Once you get a ball park figure or Zestimate®, you’ve got a good number to work with. Realtors criticize Zillow mostly because they’re such an aggressive competitor online. Their Zestimate® tool is a little off the mark, sometimes low by $20,000 or more. Yet as Zillow collects more information on homes across the US and Canada, they’ll become more accurate. But this number is just a number to rally on. You can raise the value of your home with your realtor’s advice and help. Appraisals are often based on comparables which could be the wrong comps, so you may want to go out and carefully find your own comparables to show the buyers the real value.
How do I Raise the Value of my Property?
Now you’ve got your base price often based on comparables in your neighborhood. What can you upgrade that’s worth doing? Homeowners tend to be way too passive about fixing the place up, as doing so could raise the selling price considerably, especially if your realtor manages to bring in a boatload of buyers who might compete for it. It’s the simple pleasure/pain response. It may be very effective to get rid of everything that could offend or turn off the buyer, such as dirty toilets, broken light switches, dirty stained carpet, or some of your old nostalgic art items.
A Los Angeles Real Estate agent gives some insight into appraisers and how appraisals will affect what buyers might be willing or able to offer for your home.
Here’s 10 of the Best Ways to Raise and Get your Asking Price
Fix/Renovate the Bathroom – Home buyers want all memories and evidence that you lived there gone. The bathroom is a sensitive topic and they likely want the fixtures like the toilet, basin, shower replaced. Freshening it up with new fixtures tells them it is clean and ready to be used.
Fix the Roof – If there’s any signs the roof has had it, they will not even give you a bid. Here’s an opportunity to get rid of the old shingles and put in new solar shingles to create added value for them. Free hydro could be very excited for them.
Open Concept Kitchen – Just knocking down the walls could open up the buyer’s mind to the warmth of your kitchen. Most buyers insist on a kitchen/living room connection so try to make that happen. Don’t buy new appliances, just look for some cheap used ones that still look good. Replace the obvious stuff that hints of poor hygiene such as grimy looking countertops, worn kitchen sinks and faucets.
Get Rid of the Old and Broken – Old just means old style, and items that have no relevance to the life they’re going to live. Although you love your statue, antique furniture, or old small deck, they might really turn your buyer off. Broken things could get your appraisal reduced by $500. Just one broken faucet or wall socket that doesn’t work could cost you $5k in appraised price because appraisers work in $500 increments.
Improve Exterior Features – Put in some exterior lighting, LED, for security reasons and for aesthetics. The lights warm things up and create an evening presence that would otherwise be cloaked in dreary, scary blackness.
Try some New Window Shades – These are an inexpensive upgrade that can pick the windows up and help block bright sunlight and give privacy. These buyers don’t know the neighbors yet.
Remove Dirty Carpets – replace them with the new cheap linoleum based engineered flooring. It looks like wood, feels like wood and it’s easy to keep clean. Make cleanliness a theme if it suits your ideal selling strategy.
Improve whatever the Realtor tells is wrong with most of the houses in your Neighborhood – If your house is the only one that doesn’t have the common problem, it will give them an emotional lift.
Make sure your top home Feature really Stands Out – there’s no point in going half way with the best thing about your home. If it’s got a rooftop deck for instance, make sure it looks like something they will be compelled to use. A rooftop deck or pool or large ensuite bathroom that they won’t use much is actually a waste. Everything being sold has a top benefit, so ensure this is 100% fantastic.
Have the Home Staged – having the right style, furnishings, and dressings for the intended buyer is important. Sorry, your style of furnishings only reduces the value. Appearance is so important, from the condition of the lawn to the art on the walls. Let the realtor’s home stager make the place look immaculate.
Then comes the issue of how to choose the right realtor. There are almost 2 million real estate sales people to select from.
Choosing the best realtor is important. Some are motivated and some are not. Some are optimistic, some are not. You need to take some time doing a search of the best on Google. Take the top ten you find in the search results and assess their skills, strengths and weaknesses
A good realtor will be very optimistic, encouraging, and imaginative about how to help you get the best home selling price. That’s perhaps the most important criteria you should consider. Please don’t treat this like it’s just another transaction, and that you’ll take whatever you can. Your realtor will be making a good commission on the sale. You can expect them to come up with a brilliant online marketing strategy to capture more and better prospective buyers for your home sale.
How does their online marketing presence look to you? Would you buy from them if you were about to buy? What about their website and the image they project? Does it seem to speak to you and put them in an exclusive class of quality realtors? Do they really look like they care? Is there much content on their website? Can you see anything about their character or personality? Of course, you can call a brokerage and take whoever is next on call, or you could interview whoever is willing to come to your home to be interviewed. Save some time and do a pre-screening of their website. Their website is a tell tale representation of their professionalism, skills, and commitment.
If you get a Good Real Estate Agent – Stay with Them
It’s an interesting statistic that most sellers don’t use the same realtor to help them buy the next property, even though they’re buying in the same city. Your selling realtor will be helping other buyers on other deals so why not you? Either you believe in your realtor or you don’t. Choose a great realtor and use them for everything.
Number 1 Priority: Get the Best Price for Your Home
Chances are if you’re looking at the housing market stats or the MLS listings, it’s because you want to time the purchase or sale of a home — yours. It is a great time to sell, where once in a lifetime fortunes will be made. But your mind is made up, you’re going to sell your current home, and trade up, or move to a better neighbourhood. You’re looking ahead to a better life.
Homes for sale are scarce, but it won’t be like this forever. We’re at a dicey point in the housing market right now. You’d be very wise to begin your plan and strategy to sell your home for the maximum price. Why the maximum price possible using a strategy? Because your home is the biggest financial asset you’ll ever possess. It’s a real estate investment that could launch your life into a beautiful direction. Put a little mindful effort into this.
Please don’t tell me you’re “Content” with the status quo, because we all know how temporary that is today. Nothing and no one is secure anymore. Contentment is a fool’s paradise.
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If you’re also into real estate property investment opportunities, the tips here apply equally. It’s all about make your next real estate transaction work out with a positive return. Why should put up with losing money? You need to cover the agent’s commission and all the fees and taxes and more, so you’re going to need a good selling price.
You Need a Good Solid Selling Price You can Focus on
You’re looking for proof of your home’s value and how you might get the very price on the sale of it. That’s fine. You should get the best price in a market driven economy. Will you get the best price using a local agent you saw on a garbage can in Los Angeles or the backend of a San Francisco trolley car? Or is it better to visit realtor’s websites and get to know them first? Don’t finagle about realtor’s commissions because a good one is going to get you tens of thousands to hundreds of thousands of dollars more in San Francisco Bay Area. It’s a sellers market with a great forecast.
You want to improve your life and you need emotional justification for getting a selling price and begin figure out the when of the move. With a little study of the market and realtor marketing strategy, you feel you’ll be more on top of this transaction. Completely understandable because a home sale is a rare event and it’s your huge fortune on the line.
I Don’t Want to Talk to An Agent
At this point, you don’t want to talk to an agent because you’re not sure what you want, so how can you tell them? The good agents know this and they’re going to present lots of options in neighbourhoods, home styles, price points, and amenities and carefully gauge all the things you want. Some will ask you that on their website.
Why don’t we speed up the process of you understanding what you want to buy and how you can sell your home for the best price? That’s the complete transaction for you. Your goal is to get the maximum amount of money for your home, or get a big mortgage loan, and then search for the perfect home for you.
The Best Home Selling Tips Possible
Find an agent with good character and personality, who can reach more buyers — do an audit of their online marketing because 90% of buyers go online. Is their online material all about them or all about helping customers? The Real estate agent’s linkedin profile will show how many connections they have created, and their Facebook account will tell you about their ability to engage prospects, and their twitter account will tell you how active they are online. Their presence on Google search will tell you how much reach they have to buyers searching online. (type this into Google site:http://therealtorswebsitedomain.com (or .ca ). Basically put site: before their domain name and click search! Google will show you how many pages of that realtor’s website they have listed in their index. If they have 26 pages listed, that’s not good. If they have more than 2000 pages indexed, that’s good). Check their testimonials and do a Google search of their name. Seriously, check them out – don’t hire an unknown stranger even if you saw their face on the back of a bus.
Ask them for a report on their sales activity — what was listed price and what did they sell it for
See how many homes they are the listing agent for right now
Certainly get comparative evaluations of many homes in the neighbourhood
See how the agent sells homes, such as how good is the photography and have they done videos, and is the layout of listings on their website attractive and easy to read
Ask them how they would improve the appearance or curb appeal of the home
Fix or renovate anything that is awful in your home or property – and a realtor can tell you what’s unacceptable in your home which will drive the price down
Make buyers feel comfortable and special by cleaning up your driveway and walkway areas. put in some shrubs and ornamental trees to create a visual break between the house and the street
Have your home professionally staged so it looks perfect for buyers – move most of your stuff to a storage area or rent a portable storage bin for the backyard.
Clean the bathrooms and the kitchen so they’re spotless — replace the toilets and worn fixtures – buyers don’t want that stuff!