Real Estate Realness: Why to Buy in Fall
If you’ve been wondering when the right time to buy a home is, here are 3 reasons to buy this Fall:
1. Motivated Sellers – there are more motivated sellers now that the market has cooled some, especially investors trying to sell properties before the end of the year.
2. Move In Before Holidays – if you start the homebuying process this Fall, you’ll be moved in, settled, and decorated in time for the holidays.
3. Less Competition – rising interest rates and more properties on the market means there’s less buyer competition right now.
Real Estate Realness: The Colour Yellow
Do you want to feel like your home gives you a warm welcome? Do you want to feel lighter and more energetic? Try adding the colour yellow! It signals vibrance, energy, and warmth.
You can paint an accent wall or, if you want something more subtle, add yellow décor with pillows, vases, and candle holders.
Real Estate Realness: Down Payment
When people talk about buying a home, you’ll often hear the term “down payment” mentioned. But what does it mean to put a payment down?
It’s an initial payment you make when buying something on credit. Most lenders will require you to pay a portion of the total purchase price. How much you pay will be determined by the rest of your loan terms and credit worthiness.
Real Estate Realness: Low Maintenance Houseplants
Houseplants can completely transform a space and your mood. Some houseplants are a lot of maintenance, though. If you don’t have a green thumb or feel overwhelmed at the thought of taking care of a roomful of plants, don’t stress.
Start small and easy, with low-maintenance houseplants like these:
1. Philodendron
2. Crown of Thorns
3. Christmas Cactus
Real Estate Realness: Inheriting Real Estate
Let’s say you inherited some real estate. Now what?
Real estate inheritances can be complicated or easy. They can be a blessing or a nightmare. And they can be overwhelming and emotional experiences.
If you have inherited some real estate, here are the first few things you should do:
1. Hire a probate attorney to help you through the process.
2. Check for a mortgage or any liens on the property.
3. Check the condition of the home for repairs and maintenance.
4. If there are other owners, existing or inherited, discuss how you will make decisions about the property.
5. Determine what taxes you might owe if you live in the home (property taxes) or sell it (capital gains taxes).
Real Estate Realness: Should I stage my home?
This may be one of those questions that if you have to ask, the answer is YES.
The question you might want to ask instead is: how much should I stage my home? Sometimes it’s best to hire professional home stagers, but sometimes you only need a good decluttering and deep cleaning. The goal is to stage your home in a way that attracts more potential buyers. Be sure to take photos when it’s freshly staged and looks the most presentable!
Real Estate Realness: Market Value vs Appraised Value
Do you know the difference between market value and appraised value?
Market Value is buyer-driven, based on the perceived value of a property within the market conditions at that time. You can find out the market value of your home by asking your real estate agent for a comparative market analysis, or a CMA.
Appraised Value is an objective assessment of market value by a 3rd party, known as an appraiser. Most mortgage lenders want to know the appraised value to determine how much they’re willing to lend you.