Karen Lawley's Blog
Deciding whether to accept a buyer's offer to purchase your house can be exceedingly difficult. Fortunately, we're here to help you assess the pros and cons of a homebuying proposal and ensure you can make an informed decision.
Now, let's take a look at three tips to help you determine whether to accept an offer to buy your home.
1. Examine the Current Housing Market
The current housing market may play a role in your ability to stir up interest in your house. In addition, the real estate sector may impact whether you're able to receive multiple home offers at or above your residence's initial asking price.
To understand the present state of the housing market, you should look at the prices of recently sold houses in your city or town. If houses are selling quickly, you may be operating in a seller's market. Or, if houses linger on the market for many weeks or months before they sell, you may be operating in a buyer's market.
Ultimately, a seller's market may lead to many offers on your house in the foreseeable future. If you receive an offer that fails to match your expectations when you're operating in this type of market, you may want to decline or counter the proposal in the hopes of receiving superior offers down the line.
On the other hand, it usually requires hard work and persistence to sell a house in a buyer's market. And if you receive a competitive homebuying proposal in a buyer's market, you may want to accept this offer.
2. Consider Your Home's Condition
The condition of your house may prove to be a critical factor as you debate whether to accept an offer. If you assess your house's condition closely, you may be better equipped than ever before to make the best-possible decision about a homebuying proposal.
If you feel a home offer is fair based on the current condition of your house, you may want to accept the proposal. Conversely, if you feel a buyer has submitted a "lowball" proposal based on your home's condition, you should not hesitate to reject or counter this offer.
3. Consult with a Real Estate Agent
When it comes to evaluating a homebuying proposal, it generally is a good idea to collaborate with a real estate agent. This housing market professional can help you weigh the advantages and disadvantages of accepting an offer and determine the best course of action.
Typically, a real estate agent will present a buyer's offer to you and offer recommendations about how to proceed with this proposal. As you assess all of your options regarding a homebuying proposal, a real estate agent will be able to respond to any concerns or questions that you may have too.
Ready to take the guesswork out of reviewing a homebuying proposal? Use the aforementioned tips, and you can streamline the process of deciding whether to accept an offer to purchase your home.
There are a number of reasons you may want to sell your home quickly. Whether you’re hoping to avoid making two mortgage payments, or if you are moving a long distance and have a limited time to close on your old home, it can become imperative to sell quickly.
Many homeowners in a rush to sell their home are at a loss for what they can do to increase their chances of selling quickly without substantially lowering the price.
If you’re in a competitive buyer’s market it can be even more difficult to make a quick sale. Fortunately, there are things you can do to help expedite the selling process. In today’s article, we’ll show you how to do just that.
Read on for tips on selling your home faster so you can move on to focusing on your new home.
To give yourself the best chance of attracting buyers, you’ll want to focus on cleaning and staging your home.
Many sellers leave their belongings in the home and simply fill up their closet and basement while selling their home. A better approach is to rent a storage unit to keep your belongings in. This will make sure you can showcase the size of your closet and other storage areas in viewings and in your photography.
When it comes to photography, using high quality photos that show off the lighting and spaciousness of your home will attract more leads on your home. Spending money to hire a photographer for the day can save you valuable time and give you quality, marketable photos of your home.
Rethink your pricing
If you need to sell quickly, the easiest way to do so is to make sure you’ve priced your home reasonably. Many sellers have a tendency to aim high, thinking that they will be haggled down by a buyer.
However, fewer people will reach out if your home is outside of their budget. Set your home price close to its market value and make adjustments accordingly.
Add quick curb appeal
Curb appeal is the measure of how welcoming and desirable your home looks upon driving by or pulling into the driveway. This can be achieved with landscaping, paving the driveway, and cleaning the house’s siding.
However, you don’t have to spend thousands to clean up the outside of your home. Sometimes simply mowing and edging the lawn and adding fresh mulch goes a long way toward improving curb appeal.
Another thing to consider is the best time to take outdoor photos of your home. If you have a great view or sunsets, try taking photos at different times of the day to show off all your property has to offer.
Remove personal items
You want your home to appear livable--not lived in. Make sure family photos and other personalized items have been removed for real estate photography, open houses, and viewing.
Similarly, if you have any rooms painted colors that others may find jarring, re-paint them in a neutral, calming color. And, if any of your walls are painted a dark color, brighten them up to make the room appear larger.
This approach stands true for the driveway and garage as well. You want potential buyers to imagine how they could use the space--not how you’re currently using it. Make sure your vehicles and outdoor equipment are out of sight in your photos and during showings.
Maybe you’ve thought about buying rental property. Wouldn’t it be great, you think, to own something that someone else pays for? It can work out that way, with your property increasing in value while you pocket money every month. But with the wrong home, the wrong tenants or the wrong management, it can go horrendously sour. Here are eight ways to make your first venture as a landlord a successful one.
Start small. Buy a single house, townhouse or condo rather than an entire apartment building.
Decide how much work you’ll take on. Are you a DIYer? Can you make minor repairs yourself? Are you willing and able to recruit tenants and deal with them on an ongoing basis? If this isn’t you, you’ll be wise to hire a property management company to handle these items.
Really, really, understand your income and expenses. Project them forward 5 to 10 years and make sure you have a margin. There’s more than mortgage, taxes, insurance and utilities. There also can be landscaping, pest control, landlord insurance and minor repairs. Be especially aware of big ticket items. If you’ll need a new roof eight years from now, set aside for it. Be aware of property tax trends so you won’t be caught be surprise. Consider what will happen if a tenant leaves and your property is vacant for several months.
Arrange financing in advance. Most mortgage lenders will pre-qualify your loan. It helps close the deal if you can show this to a buyer.
Know the neighborhood. If you’re not familiar with it, drive around. Talk to people. Research it online.
Learn how to be a landlord. Talk to other landlords. Join a landlord’s association. Familiarize yourself with tenant rights and local regulations.
Know your tenants. The right tenants can make your experience a joy and the wrong ones can make you rue the day you got into this business. Use a screening service. Have a written lease ready to go and specify exactly what is expected: when the rent is due, what the grace period is, what’s the penalty for being late, who pays utilities, what - if any - maintenance the renters are required to do. Insist on prompt rent payment right from the get-go. No matter how much you like your tenants, it's imperative to keep the relationship professional. Visit your property from time to time. You’re not permitted to barge in, but a drive-by can tell you a lot.
Keep business and personal finances separated. Maintain separate bank accounts and credit cards. Be clear on which is which for record keeping and tax accounting.
People have put children through college and financed their retirement through rental property while also working at paycheck jobs. But being a landlord is not for the timid, the inflexible or the careless planners. Think before you make the leap, and if you decide to go for it, all the best!
We’ve all had those times when we can’t seem to get a good night’s sleep. If you recently moved to a new home or if you’re on vacation, the new environment or mattress can make it difficult to fall asleep.
It’s even more frustrating when you’re in the comfort of your own home but are still having trouble sleeping.
In this article, we’re going to give you some tips and habits you can build to help better your sleep. We’ll talk about ways to get to sleep on time, how to improve your sleeping habits, and how to sleep through the night.
Getting to bed on time
Most of us live busy lives that make it hard to unwind at the end of the day. Others simply have a hard time calling it quits on the show or movie they’re watching when they should be getting some sleep. Either way, it’s essential to build a good bedtime routine to make sure you’re falling asleep at an appropriate time each night.
To start, you’ll want to make sure you assign yourself a bed time. Though bed times seem like a rule for children, it can help adults vastly improve their sleep. Going to bed and waking up at the same time each morning reinforces your body’s natural sleep cycle.
To ensure you go to bed on time, you can set a reminder or alarm on your phone for a half-hour before you need to be in bed. This will give you time to finish what you’re doing and get ready for bed.
There are also apps that will help you do this, which we’ll talk about in the next section.
Monitor your sleep
Sleep is deeply important to how we function throughout our day. A poor night’s sleep is a short-term hindrance, putting us in a bad mood or making it difficult to focus. But, in the long run, lacking sleep is a health risk that has been linked to cardiovascular disease, diabetes, and other serious illnesses.
The takeaway? We should all take sleep seriously. To do so, a good way is to monitor your sleep. One easy way is to download an app that does just that. For iPhone users, the pre-installed Bedtime feature (part of the Clock app) is a simple way to set reminders and gain insight into your sleeping habit.
A more thorough way to monitor your sleep is to keep a sleep journal or to buy a smartwatch that tracks your sleep for you. Regardless of your method, keeping tabs on your sleep quality will help you prioritize your health and wellness.
Quick tips for improving your sleep
Go to bed at the same time each time
Avoid bright screens (phone, TV, laptop) for an hour before bed
Read, knit, or do some other relaxing hobby before bed
Don’t eat for two hours before bed
If you can’t sleep, try listening to calming music or a guided meditation
If you’re a light sleeper, try wearing comfortable earplugs and an eye mask to bed
If you intend to buy a house, you probably will check out a lot of home listings over the next few days and weeks. However, it is important to note that not all home listings are created equal, and how you analyze home listings may dictate your homebuying success.
Ultimately, there are several factors that homebuyers need to consider as they assess home listings, and these factors include:
The price of a home is one of the key factors – if not the most important factor – that a homebuyer needs to consider in a home listing. Because if you ignore a home's price, you risk wasting precious time and resources as you pursue a home that falls outside your price range.
When it comes to buying a home, it pays to develop a budget ahead of time. That way, you'll know how much you can spend on a residence and can tailor your home search to fit your budget.
You may want to get pre-approved for a mortgage prior to looking at home listings as well. By doing so, you can enter the housing market with a budget in hand and explore available residences that won't force you to spend beyond your means.
Are you looking for a fixer-upper or a brand-new residence? Take a look at a home's condition, and you can determine whether a particular residence is right for you.
Oftentimes, a decades-old residence may require myriad upgrades. This means you may need to allocate significant time and resources to enhance the condition of an old house after you finalize your home purchase.
On the other hand, it is essential to remember that a new house may prove to be more expensive than an old residence. And if you're on the lookout for a bargain, you may want to shy away from listings for brand-new houses.
Creating a list of must-have home features is ideal, as this will enable you to narrow your search for your dream residence.
For instance, if you want a home that has a big swimming pool, you can browse home listings accordingly. Or, if you would like to buy a house that is located near some of the nation's best schools, you can focus on home listings in cities and towns that feature top-rated schools.
If you want to streamline your home search, it usually helps to look beyond home listings. Fortunately, real estate agents are available to help you accelerate your search for the perfect residence.
A real estate agent understands the ins and outs of the housing market. He or she will learn about your homebuying goals and provide you with the latest home listings. Then, a real estate agent will work with you to simplify your home search and ensure that you can discover a terrific residence at an unbeatable price.
Take the guesswork out of reviewing home listings – use the aforementioned tips, and you can quickly evaluate a wide range of home listings and find your dream house.