Wednesday, August 7, 2024 / by Dick Keenan
When you're ready to move, deciding what to do with your current home can be a big decision. Should you sell it and use the proceeds for your next step, or keep it as a rental to build long-term wealth? This decision isn't always straightforward. Whether you're interested in rental income or concerned about the responsibilities of being a landlord, there’s a lot to consider.
Here are some key questions to help you determine the best option for your situation.
Is Your House Suitable for Renting?
Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Consider the following factors:
Location: If you're moving far away, maintaining the property can be challenging.
Neighborhood: Some neighborhoods aren’t conducive to rental properties.
Condition: If the house needs significant repairs, renting it out might not be feasible without substantial investment.
If any of these points apply, selling might be y. ...
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Wednesday, December 30, 2020 / by Traci Pimentel
There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following items.
1. Your Safety Is a Priority
Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours, real estate professionals are equipped to follow the latest indu. ...
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Monday, December 14, 2020 / by Traci Pimentel
If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers.
The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace.
Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers (See graph below):When the supply of houses for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This means competition among purchasers rises and more bidding wars take place, making it essential for buyers to . ...
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Monday, September 28, 2020 / by Traci Pimentel
Back in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse. Some forecasts called for a 15-20% decline in transactions. However, six months later, it seems as though the housing market has fully recovered.
Mark Fleming, Chief Economist at First American, announced last week:
“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”
The Economic & Strategic Research Group at Fannie Mae upgraded its forecast for home sales last week:
“Housing data over the past month continued to show a strong V-shape rebound, helping drive the broader economy. Existing home sales jumped to a pace no; ...
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