RE/MAX Preferred Properties



Posted by RE/MAX Preferred Properties on 1/10/2021

Image by Andrey Popov from Shutterstock

The term "fair market value" is the price at which an interested but not desperate buyer is willing to buy and a motivated but not distressed seller is willing to sell on the open market in your location. The set value depends on recently sold similar-sized homes with like amenities, upgrades, and location. These are known as "comparables" or "comps" in real estate jargon.

Your best resource for learning the market value of your home is your trusted real estate professional. They have access to lists of homes like yours that sold on the open market in recent weeks and months. Of course, no one can know if your home will sell since other factors might be at work too. Changes in local industry and the job market might cause prices to move either down or up. Weather can factor in also.

What if prices drop?

Should you enter the market just as prices begin trending down, you might choose to set your price just below the fair market value. That way, you won’t be forced to lower your opening price if they keep trending downward. To stay competitive, increase the value, not the price. Professionals know ways to market your home’s exceptions such as recent upgrades, repairs, a new roof, walkability, proximity to social life and other seemingly intangible items that keep your home at the top of people’s list.

What if prices go up?

Neither you nor your agent can accurately anticipate the market. But if prices seem to be going up, set yours near the top of the “fair” values. Try not to overprice your home since doing so can have unintended consequences. Lenders and underwriters operate slightly behind the market adjustments, so when you set a too high price, your buyers may not qualify for financing.

Setting the price

Your agent can help you set the right price the first time. Trust their knowledge and expertise in the marketplace. If you’re not sure about the price, test the waters by asking your agent to keep your home as a pocket listing. That is, a listing they can tell agents and clients about that doesn’t appear on the multiple listing services (MLS). That way, you can see if your pricing strategy gains any traction.




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Posted by RE/MAX Preferred Properties on 1/3/2021

Adding a home to the real estate market offers a great first step to sell your residence. However, before you list your house, you'll want to consider the short- and long-term ramifications.

Ultimately, there are several key decisions for home sellers to make before they list their residences, including:

1. What Are My Future Plans?

After you sell your house, where will you live? You'll need to consider life after your home sale so that you can map out the home selling journey accordingly.

For example, if you've recently accepted a new job in a new state, you may need to sell your home as quickly as possible. This also may require you to find a new place to live immediately.

On the other hand, if you already have another residence lined up, you may be able to slow down the home selling process. This will ensure you can take your time, perform plenty of housing market research and do everything possible to maximize the value of your home sale.

2. How Much Is My Home Worth?

What you originally paid for your house is unlikely to match your home's present value. As such, you'll need to understand what your home is worth today so you can price it appropriately.

A home appraisal will make it easy for you to learn about your house's strengths and weaknesses. During this appraisal, a home inspector will examine your property's interior and exterior and identify any problem areas. Then, you can better understand the true value of your house.

Don't forget to look at the prices of comparable houses in your city or town too. This can provide you with valuable housing market data and help you understand whether you're getting ready to sell a home in a buyer's or seller's market.

3. What Can I Do to Enjoy a Fast, Seamless Home Selling Experience?

The home selling journey can be tricky, particularly for those who are preparing to sell a house for the first time. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you enjoy a fast, seamless home selling experience.

A real estate agent boasts comprehensive housing market experience. He or she can offer tips to help you revamp your house's interior and exterior before you add your residence to the real estate market. That way, you can boost your chances of a quick home sale.

Also, a real estate agent will go above and beyond the call of duty throughout the home selling journey. This housing market professional will set up home showings and open houses, keep you up to date about offers on your home and negotiate with homebuyers on your behalf. And if you ever have home selling questions, a real estate agent is happy to respond to your queries immediately.

Collaborate with a real estate agent as you prepare to embark on the home selling journey, and you can move one step closer to maximizing the value of your residence.




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Posted by RE/MAX Preferred Properties on 12/27/2020

Photo by Steve Buissinne via Pixabay

As a homeowner, it is important to complete preventative home maintenance on a regular schedule. Home maintenance is necessary because it ensures potential problems are identified before they become costly repairs. Not every issue will be caught ahead of time, here are a few common examples of home maintenance issues that could be problematic.

The Leaking Roof

One of the most common home maintenance issues is a roof that starts to leak. A leaking roof can be costly because, if the leak becomes a steady flow, you may need to replace personal property in addition to fixing the overarching issue. It is critical to perform a home inspection to make sure the roof is in a state of good repair during the buying process. While living in your home, the roof should be inspected regularly to look for problems with shingles, tiles and gutters. This ensures that the roof can withstand the routine wear and tear of adverse weather.

A Ruptured Pipe

Ruptured pipes are often a source of home plumbing and maintenance issues. Pipes tend to rupture during the winter when the temperature is especially cold. Sometimes, water and ice expand upon freezing to the point that the pipe breaks. Then, when the water is turned on, it flows out of the pipe and floods the house. To prevent this from happening, turn the ambient temperature up slightly even when you aren't at home. This will often prevent the water from freezing. Additionally, allowing the faucet to drip during particularly chilly nights keeps the water flowing, making it is less likely to freeze in the pipes.

A Broken HVAC Unit

Most homeowners dread having to replace the HVAC unit; however, routine maintenance will ensure you get as much use out of your HVAC unit as possible. If you hear rattling in the HVAC unit, or when their heat starts to disappear, this is a bad sign. To ensure HVAC units last as long as possible, make sure to replace the filters on time. This will go a long way toward making them last.

Not Sticking to Home Maintenance Schedules

Lastly, the biggest problem many homeowners have with home maintenance is that they simply don't do it. There is a common saying that you shouldn't fix what isn't broken but avoiding regular home maintenance will likely lead to larger repair bills down the road. Follow the advice of the maintenance schedule and make sure the home is taken care of.





Posted by RE/MAX Preferred Properties on 12/20/2020

If you intend to buy or sell a house, it frequently pays to hire a real estate agent, and for good reason.

A real estate agent can offer expert insights into the housing market. Plus, he or she can respond to any concerns or questions that you may have as you proceed along the homebuying or home selling journey.

When it comes to hiring a real estate agent, however, it is important to note that no two real estate agents are exactly alike. In fact, there are several factors that differentiate an ordinary real estate agent from an outstanding one, and these include:

1. Industry Experience

Regardless of whether you plan to buy or sell a house, you should definitely spend some time evaluating a real estate agent's industry experience. That way, you can find out how long a real estate agent has been working in the industry and choose one who knows how to overcome potential homebuying and home selling hurdles.

Ideally, you should employ a real estate agent who possesses many years of industry experience. This housing market professional likely understands the ins and outs of buying and selling houses and can help you get the best possible results.

2. Communication Skills

The right real estate agent will be a great communicator. As such, this housing market professional will be able to keep you informed at each stage of the homebuying or home selling process.

To learn about a real estate agent's communication skills, it often is a great idea to meet with a real estate agent and interview this individual. During a face-to-face interview, you can get a better idea about what a real estate agent is all about and ensure you feel comfortable working with him or her.

In addition, a real estate agent should have no trouble communicating with you in good times and bad. He or she will be prepared to provide honest, unbiased feedback, and by doing so, help you make your homebuying or home selling dreams come true.

3. Client Feedback

Reach out to a real estate agent's past clients before you hire this housing market professional. With client feedback at your disposal, you can learn what it's like to work with a real estate agent.

A real estate agent usually will be happy to provide you with client referrals. Then, you can contact an agent's past clients and learn about their homebuying or home selling experiences.

Lastly, if you're uncertain about whether a real estate agent is right for you, it sometimes is valuable to find out how this housing market professional will approach the homebuying or home selling process. Explaining your goals and learning how a real estate agent will help you accomplish these aspirations can make it easy for you to find the right agent, at the right time, every time.

Start your search for a real estate agent today, and you can move one step closer to buying or selling a home.





Posted by RE/MAX Preferred Properties on 12/13/2020

??Finding the house of your dreams is a process that requires a lot of clarity, diligence, and patience. While it is possible for the first house you look at to be the ideal choice, it's a lot more likely you'll have to look at a dozen or more houses before finding the one that matches your requirements and feels like home.

Whether you're searching for your first home or your tenth, your decision will primarily be based on four factors: affordability, practicality, emotional appeal, and prevailing market conditions.

Affordability is a vital element in the mix because it's difficult to enjoy a beautiful new home if you're always stressed out about whether you'll be able to make the next mortgage payment! Developing a realistic and well thought-out budget is one of the first preliminary steps involved in launching a full-fledged search for your next home. In addition to being able to cover your current expenses and the cost of mortgage payments, you'll also want to ensure that there's a cushion in your budget for things like home maintenance, repairs, improvements, HOA fees (if applicable), property taxes, school taxes, and homeowner's insurance.

As far as practicality goes, your new home should -- at the very least -- live up to your basic needs and expectations. Ideally, all systems should work properly and be in good condition. Proximity to key locations, such as your job, shopping, and essential services can also have a direct impact on your quality of life. Long commutes, cramped quarters, or being buried by an avalanche of repair bills can definitely take some of the pleasure out of home ownership!

The majority of houses you'll look at will probably need some degree of updating, decorating, or repairs, but ideally, you'll want to tackle those projects over the next couple of years, rather than the immediate future! Having an experienced home inspector do a thorough inspection of the home you're interested in will help ensure you're not buying a home riddled with flaws, headaches waiting to happen, and other problems.

Although cost and practicality are vital aspects of buying a new home, you can't (and wouldn't want to) ignore factors such as aesthetics and emotional appeal. If you can't imagine you and your family living in and enjoying a house you're considering buying, it might be time to continue your search elsewhere! The house you ultimately choose should support your lifestyle, provide sufficient space for your family to grow and thrive, and be situated in a neighborhood in which you feel comfortable and safe.

To make the most of your available time and money, find an experienced real estate agent who's responsive to your needs and knowledgeable about the local real estate market. They will help you streamline your search, find houses that meet your criteria and negotiate the best possible price on your behalf.







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