Here’s what you need to know about selling fast and for a high price.
Are you looking to sell your home quickly and for a high price? Of course, you are! The truth is that there are still plenty of great opportunities for sellers in this market; you just need to put in a little work. That’s why today, we’re sharing three of our best tips to help you find success on the open market.
You can listen to our full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:54 — Work with a trusted local agent
1:52 — Get your home in good condition
3:08 — Find the right price
3:44 — Why comparing sales is important
4:26 — Wrapping things up
If you have questions about this topic or anything else, please call or email us. We look forward to hearing from you!
Maximizing buyer benefits in the 2023 housing market.
In today's real estate climate, the narrative often suggests that the rising interest rates make it a less-than-ideal time to buy a home. However, a closer look at real-world sales data tells a different story, revealing significant opportunities for homebuyers, particularly in 2023.
Let's examine two sales of comparable homes in Harker Heights, located in the same neighborhood and on the same street, but with one transaction in 2021 and the other in 2023. This comparison will illustrate how the market dynamics have shifted in favor of buyers.
In 2021, when interest rates hovered around 3%, one of the houses was listed at $274,800 and sold for $280,000 – a competitive $5,200 above the asking price. Notably, the seller offered no concessions, meaning the buyer shouldered the entire cost, approximately $8,000 in this case.
Fast forward to 2023, a similar house in the same area was listed for $285,000 but sold for just $265,000, a significant $20,000 below the asking price. Furthermore, the seller contributed a substantial $4,500 towards closing costs, which were around $7,400, effectively covering 60% of the buyer's expenses.
When we crunch these numbers, we find that the 2023 buyer paid about $13,200 less than the 2021 buyer. Even considering the higher interest rates of 2023, it would take over 27 months for the increased monthly payments to offset this financial advantage. Plus, the 2023 buyer has the option to refinance when interest rates drop, further enhancing their financial position.
This example highlights that contrary to popular belief, there are indeed significant opportunities for homebuyers in today's market. The key takeaway is not to be swayed by fearmongering. Instead, it's crucial to analyze the market with a discerning eye.
If you're contemplating buying a home in 2023, don't let the prevailing narrative deter you. There are advantageous deals to be found, and with the right strategy, you could be well-positioned to capitalize on the current market conditions. Reach out today, and let's work together to find your dream home in this dynamic market!
These are the three proven ways to get huge savings and slash your rates.
When it comes to buying a home or financing a major purchase, one of the most critical factors to consider is the interest rate on your loan—it can significantly impact your mortgage and your monthly payments. Fortunately, there are several strategies that buyers can employ to lower their interest rates and save money in the long run. Here are the three best ways buyers can reduce their interest rates:
1. Improve your credit score. Your credit score is a key factor that lenders use to determine the interest rate on your loan. The higher your credit score, the lower the interest rate you're likely to secure. To improve your credit score, focus on paying your bills on time, reduce your debt, check your credit report for errors, and avoid unnecessary credit applications.
2. Shop around for lenders. Not all lenders offer the same interest rates, and their terms and conditions can vary widely. If you want to get the best deal, shop around and compare offers from different lenders. Gather multiple quotes, understand the different loan types, and don't hesitate to negotiate with lenders for a better rate or terms.
3. Make a larger down payment. Making a substantial down payment is another effective way to lower your interest rate. The more you can put down, the less risk the lender assumes, resulting in a lower interest rate. To achieve this, save aggressively, consider using gifts or windfalls, and explore down payment assistance programs that may be available to you.
Lowering your interest rate when purchasing a home or financing a significant purchase is a strategic way to save money over the life of your loan. If you need more help reducing your interest rates, call or email me. I’m always happy to help.
Sharing the three most important things you need to do when selling.
Dear friends and clients,
If you’re thinking about selling your home anytime soon, you need to know how to get the most money out of it. Too many people fall into the trap of thinking they don’t need to put in any work or that they need to spend enormous amounts of money to increase the value of their homes. The truth is that effort is necessary, but a little bit can go a long way. Here are my three tips for how to increase the value of your home:
Make a good first impression. The truth is that the first look can make or break your sale. Potential buyers have already judged your house before they walk in the door—and in today’s market, they’ve even made judgments before that when they saw photos online! Therefore, put in the work to get high-quality, professional photos, as well as improve your curb appeal. This can be as easy as mowing the lawn and putting in fresh flowers.
Display the value of your space. Start by decluttering your home. Potential buyers don’t want to see your photos and knick-nacks, but they do want to see that there’s plenty of room to store their things. Therefore, clearing out some of your closets, for example, can make a big difference. Also, consider professional staging and high-quality lighting. These things will showcase the great parts of your home.
Work with a trusted Realtor. Who you work with matters. Unfortunately, too many people just work with the first agent they talk to, who says they can get a good price, and then end up suffering because of that. You need to work with an experienced professional with a top-notch marketing plan who is great at negotiations and can help you understand the current market to get the most money possible.
There are many things you can work on to get top dollar for your property, but those are the three most important ones. If you have any questions, want advice on what else you can do, or want to work with this experienced professional, don’t hesitate to reach out! You can call or email me anytime, and I would love to help you.
Here are three essential tips homeowners need to know before selling.
Are you looking to sell your home in the near future? If you are, you need a plan to get the most money possible for your home while ensuring a smooth sale. As a real estate agent, I help people buy and sell houses every single day, so I know what it takes to get top dollar for your property. Here are three things you absolutely need to know before you list your home:
Find the perfect price. Pricing can make or break a deal. It's like finding the perfect balance between attracting potential buyers and maximizing your profits. To find the best price for your home, lean on your agent to find comparable homes that have sold recently, analyze the market, and factor in market trends. Remember, setting an inflated price can turn buyers away, while pricing too low might make you lose out on some well-deserved cash. It's all about finding that sweet spot.
Master your curb appeal. First impressions matter, and when it comes to selling your house, curb appeal can make a world of difference. Think about it—when you're driving through a neighborhood, don't you gravitate towards homes that catch your eye? You want potential buyers to fall in love with your property from the moment they lay eyes on it. So, invest some time and effort in sprucing up the exterior. A fresh coat of paint, a well-maintained lawn, and some tasteful landscaping can work wonders. Remember, you want your house to stand out for all the right reasons and create a lasting impression.
Be upfront about potential issues. Honesty is key when selling a house. You must disclose any known issues or defects to potential buyers. It’s tempting to hide certain things to make your house seem more appealing, but this can lead to serious legal troubles down the road. Be transparent about any past or current problems your property may have. It's better to address them upfront rather than dealing with unhappy buyers later on. Remember, a solid foundation of trust and transparency will help you close the deal smoothly and with a clear conscience.
Overall, the best course of action is to work with an experienced agent who knows these strategies and more. If you’d like more tips on how to ensure a smooth home sale, just call or email. Make it a great day!
Assuming a loan is a great option for buyers looking to save money.
Over the past few years, we have seen record-breaking interest rates in the housing market. As a result,
assuming a loan has not been a popular option for most buyers. However, with the interest rates on the
rise, buyers are beginning to consider this option again. Here are four advantages of assuming a loan:
1. Lower interest rates. One of the primary advantages of assuming a loan is that you might be able
to take advantage of a lower interest rate. For example, if you assume a loan from someone who purchased
a home two years ago and was able to get a 3% interest rate, you can take over that interest rate as well.
This means you can save thousands of dollars in closing costs because you're not generating a new loan.
By working through the costs associated with transferring that loan over to you, you can enjoy a lower
interest rate.
2. Fewer closing costs. When you assume a loan, many of the costs associated with buying a home will
not exist. You're only working through the costs associated with transferring that loan over to you.
This means that you can save a significant amount of money on closing costs.
"Loan assumptions are becoming more popular
again due to lower rates."
3. Shorter long term.Another advantage of assuming a loan is that you will inherit the long term from the
seller, which can be significantly shorter than a new long term. This means that you can pay off your loan faster and be debt-free sooner.
4.Lower monthly payments. Finally, assuming a loan can lead to significantly lower monthly payments. A lower interest rate and a lower loan amount can help reduce your monthly payments. This can be a great option for those who want to reduce their monthly expenses and save money.
If you're interested in assuming a loan, it's important to work with a professional who can guide you through the process. If you have any questions or are ready to get started, call or email us right away.
Five things to consider before you buy a home with solar already installed.
If you're in the market for a new home, you may come across a property that already has solar panels installed. This can be an attractive feature as it can potentially save you money on your energy bills while also reducing your carbon footprint. However, before you jump in, there are some important things to consider. Here are five key factors to keep in mind when purchasing a home with solar panels:
1. Existing loan or lease on the solar panel system. The first thing to consider is whether there is a loan or lease on the solar panel system. This is important because these agreements can have a significant impact on your finances. In some cases, the loan or lease amount can be as high as $40,000, and if it's not paid off at the time of closing, you'll need to assume that loan. This means that you'll not only have to qualify for the financing for the house, but you'll also need to qualify for the cost and the assumption of the lease on the solar panel system. Be sure to carefully review the terms of any existing agreements before making an offer on the property.
2. Manufacturer and installer of the solar panels. It's also important to find out who manufactured and installed the solar panels. You want to ensure that the company is still in business and can provide service and repairs if needed. You'll also want to check if parts are still available for the system. Knowing the manufacturer and installer of the solar panels can help you determine the level of support you can expect from them in the future.
"Purchasing a home with solar panels can be a great investment."
3. Warranty on the solar panels. When it comes to solar panels, warranties are essential. You'll want to find out if there is a warranty on the panels and, if so, whether it's still valid. This goes back to the second question about the manufacturer and installer still being in business. You want to make sure that if you need service on the solar panels, you have a company that stands behind the product and can come and fix it. Additionally, make sure that the warranty is transferred to you at the time of closing; otherwise, it's essentially worthless.
4. Average monthly electric bill with the solar panels. Another important consideration is the average monthly electric bill with the panels installed compared to what it was before the panels were installed. This will give you an idea of how efficiently the panels are working and whether they're providing a good return on investment. If you're investing $30,000 in solar panels, you want to make sure that you'll be able to recoup that investment over time.
5. Insurance coverage for the solar panel system. Finally, you'll want to check with your insurance company to see if they cover the solar panel system. You're taking on a significant obligation when purchasing a home with solar panels, so you want to ensure that you're protected in case of damage caused by natural causes, such as hailstorms.
Purchasing a home with solar panels can be a great investment, but it's important to do your research and ask the right questions. By taking these factors into account, you'll be able to make an informed decision and enjoy the benefits of solar power for years to come. If you need guidance through this process, don't hesitate to reach out to us by phone or email. We’d love to help you.
The market may have been volatile, but it’s now a phenomenal time to buy.
Despite what you might be hearing on the news today, it is a great time to buy a house. Today, I’m here to tell you five reasons why today is a better time to buy a house than it was two or three years ago:
1. Inventory is up. There are more homes on the market today for you to choose from, which is a great position to be in.
2. Homes are staying on the market longer. That means you’ll be able to see the homes that are available and make an offer without being in as much of a rush.
"Despite what you might be hearing on the news today, it is a great time to buy a house."
3. There's less competition from other buyers. Two years ago, we were seeing 10 to 15 multiple offers on a single house. That’s not the same today, which gives you a better chance of winning the home that you want.
4. Interest rates are still remarkably low. When working with our preferred local lender, we’ve seen clients get down to 5.5% for their interest rate, which is phenomenal. Historically, this is extremely low.
5. Buyers have more negotiating power. You may be the only offer on a house that's been on the market for some time, which gives you more leverage in negotiations, and that's always a good thing.
Don't wait—take advantage of these conditions today and go out and find the house of your dreams. If you have any questions about this topic or real estate in general, please reach out to me by phone call or email. I would be happy to help with all of your real estate needs.
