Pricing your home can be difficult. To figure out how much your house is worth before you list it, there are several things you can do. Here are our tips to calculate your asking price.
Search for Comparable Homes
House value are determined by the price similar properties recently sold for. Some real estate websites, such as Trulia, Zillow, and Realtor.com, make this information easy to find. Start with a search of your part of town or zip code and keep track of the price homes like yours sold for. Make sure the houses you check are comparable, meaning they have the same number of bedrooms, bathrooms, and are close in square footage and lot size. These sites do not always have the most accurate information so make sure to check other sources as well.
Call the Tax Assessment Office
The tax assessment office in your town or city will have records of what comparable homes recently sold for in your neighborhood or town. Using these records will give you a second set of numbers that are more reliable than what you may find online. Using both figures together, you can come up with a better estimate of the value of your home.
Get in Touch with a Realtor
Realtors are the market experts and will be able to help you price your home. They can either do it for you, or help you identify the key items to look or in your search and estimation. They’ll also be able to give you information on how the market is in your area. When there are more buyers than houses available, the price of listed homes will increase and vice versa. A realtor will know what to expect and help you set your price right.
If you’re ready to list your home for sale in the Maryland location, Virginia location, Baltimore location, or Washington DC location, or are just curious about how much it may be worth, you can make an informed estimate with just a little effort and time.Read More
Selling a house takes plenty of work and time. Before listing your home for sale, put the time in to help it show at its best. There are lots of things you can do to get your house ready, but these four are the most important steps you NEED to take.
1. Remove Personal Touches
When a potential buyer comes into your home, they want to be able to see themselves and their family living there. Family photos and knick-knacks are distracting and shoppers will wondering what kind of people live there, not how they can make the house their own. De-clutter your space, including closets, and pack up anything that you don’t need. You want your house to look open and inviting.
2. Pack Up What You Want to Keep
If a buyer sees an antique chandelier or handmade ceramic sink in the house, they’ll think it’s part of the bargain. Things can get dicey if an offer is made and then those items are removed. Either tag big items as “not for sale” or pack up and replace what you can. You want to make sure you keep your great-grandmother’s vintage cabinet pulls and handles.
3. Clean, Clean, Clean!
A house for sale can never be too clean. Consider hiring professionals if you can, or put the work in yourself and do all those chores you may normally neglect. Wash your windows, wipe down door jambs and floorboards, and get under those appliances. While you’re at it, you can make minor repairs to cracks in the flooring, patching up small holes, and re-caulking if you need to. Some tasks like vacuuming and dusting should be done daily while the house is on the market.
4. Curb Appeal
The exterior of your home is the first thing potential buyers see. Cross the street and take an objective look at your house. Does it look appealing? You may need to touch up paint and clean up your landscaping. Clean the driveway, sidewalks, and windows. Pack up the kids’ toys and make sure you clean up after your pet everyday. Dress your house for the season, either with tasteful holiday decorations, or fresh flowers to give it that extra shine.
If you take these four steps, you’re home in the Maryland location, Virginia location, Washington DC location, and Baltimore location will show better and you’ll be more likely to get your house sold at the price you want. A little time now can pay off big later!Read More
Are you thinking about moving and selling your house in the Maryland location, Virginia location, or Washington DC location? Selling your home with a realtor can be a process! – but it doesn’t have to be a mystery! That’s why we’ve complied a step-by-step timeline for selling your home with a realtor.
2 Months before Listing
Hire a real estate agent. Choosing a good real estate agent is so important in selling your home easily and quickly. A good realtor will be your guide through the process. They’ll be help you ensure you have all the documents and paperwork you need to list and close your home before it goes on the market!
6 Weeks before Listing
Check out your local housing market to get an idea of what your market is like. Maybe go to some open houses to get staging ideas. This is also the perfect time to make those essential kitchen appliance upgrades, cosmetic fixes, and other repairs before your house goes on the market. Repainting or cleaning your walls can give your home a major facelift and make it seem brighter and larger!
2 Weeks before Listing
Start decluttering and cleaning! Potential buyers can visualize themselves in your home if your home isn’t crowded or dirty Empty cabinets and closets, pack decorations, move out furniture – basically anything you can live without while your home is on the market should be packed up.
1 Week before Listing
Once your house is clutter-free and clean, your agent will arrange for photos to be taken and an attractive description written!
Listing Day and Closing Day
Now your agent will list your home on several real estate online platforms! It’s your job to make sure your home is presentable for showing at all times and your agent will work with potential buyers until you have an offer that you agree to. Once you’ve agreed to an offer, your realtor and your title/escrow company will help you transition ownership to the buyer.
Alternatively, you can sell your house to an investor like 8 Day Home Sale. We clean out your house for you and let you choose your own closing.Read More
You’ve seen it everywhere. On the signs along the road or in advertisements you find in your mailbox or hanging on your door: “We’ll Sell Your House in 60 Days or We’ll Buy It Ourselves!” “Guaranteed Sale – I’ll Sell Your Home Quick or Buy It Myself!” “Sell Your House in 90 Days Guaranteed!”
Is it real or just a scam?
The real estate agents who promise to sell your house within a certain amount of days do sell your home in the perscribed time. However, it’s all the fine print you have to worry about.
You must agree to many concessions, including many expensive upfront costs. In most of these “Guaranteed Sale” deals, you must agree to pay a high realtor commission, a home inspection, a professional home staging, a home warranty, and possibly other concessions. You also must agree to lower the sales price of your home after it’s been on the market for a certain period.
This “deal” is actually only a deal for the realtor, not you.
To sell your home so easily and quickly, you’ll have to agree to let the agent sell your house below market value. Because your home is below market value, it’s likely you’ll get a flood of offers. And, if your home still doesn’t sell, your realtor will purchase your home at an even lower price, stipulated in the agreement you signed, then resell it at market value, making the profit that you could’ve made with a more invested realtor! The most important thing to look for when trying to sell your house is a realtor who will be on your side, trying to get YOU the best deal!
“Guaranteed Sale” realtors are only looking for the best deal for themselves. Don’t fall for this real estate trick! We see this a lot in the Maryland location, Virginia location, and Washington DC location.Read More
You want to make it attractive to potential buyers, but you don’t want to spend unnecessary expense either. Whether you want to renovate your home before selling, or just put it on the market as-is is a choice that should be considered carefully!
Renovating before you sell PROS
- Increases market value
Especially if the home you’re trying to sell has been around a while, renovation can give it a more up-to-date look, increasing its value and its attraction to potential buyers.
- Provides a ready-made home
People searching for a new home have mostly likely seen tens or even hundreds of homes already. A renovation could be just what your home needs to stand out from the crowd. Making a few tasteful renovations can help potential buyers envision themselves living in your home.
- Decreases reasons to not buy
Potential home buyers may feel overwhelmed by the amount of homes on the market, so, to narrow down their search, they are often critical of the smallest defects. By offering coveted updates, a newly-renovated home has less chance of being dismissed.
Renovating before you sell CONS
- Time sucking
Renovations take time. If you don’t have time to oversee renovations, or you need to sell your home fast, renovating may not be the best choice.
- More expensive
Renovating your home can quickly become costly, which may reduce your overall ROI.
- Takes longer to be market-ready
Even though renovated homes tend to sell faster than non-renovated ones, renovations make it longer before you can put your house on the market. And sometimes that means you have to live in a home-turned-construction-site while the renovations are taking place!
8 Day Home Sale buys houses “as is” for a fair price. If you are looking to sell, talk to us first.
Perhaps the realtor just put the “For Sale” sign in your front yard this afternoon, or maybe you are just mulling over the idea of selling your house. Either way, consider these 6 timely tips to sell your house…FAST!
- Curb appeal. First impressions mean everything to a prospective buyer. Your front yard, including your entryway, is the very first thing a possible buyer is going to see, and it needs to look attractive. Make sure your lawn is mowed and plant fresh flowers around the entryway. Make it look inviting. If you are scratching your head, just ask your neighbors to offer suggestions. They’ve been staring at your house for a long time and those fresh eyes can give you ideas.
- Fresh coat of paint. Each room in your house should have a neutral color. Those old, bold colors have got to go. They may look nice to you, but a prospective buyer will have a different view. Paint those rooms with a neutral color and let the buyer’s imagination take over.
- Clean. Clean. The new owner won’t want a house that needs carpets cleaned, bathrooms cleaned, etc. They want a house that is ready to be moved right into and they don’t want to imagine 2 weeks of cleaning. Again, ask neighbors over to see where they think the house is dirty and needs cleaning.
- Smell the cinnamon! Grab a bunch of air fresheners of exactly the same scent and put one in every room. Cinnamon works well because it reminds people of warm family times. You want to make use of all of the senses.
- Big TV. One of the best tips I’ve used through the years is to buy a brand new, big screen TV, leave it in the box, and put a large sign on it: Housewarming gift to the new owner! Put it in the living room, still in the box. This tip will really help to sell your house fast!
- 40 days. Tell your realtor you want to sell your house in 40 days. They will recommend a price that will fit your local market. You want to sell your house fast, and 40 days is a fairly common time frame for correctly priced houses.
Selling your property in the Virginia location, Maryland location, or Washington DC location is already a complicated process without stressing about the taxes you may have to pay. Depending on the type of property you are selling, your profits may be tax-free. Let’s take a look at how taxes are structured for property sales.
If the house you’re selling is your primary residence and you have lived there for more than two years, a portion of the profits that you earn from the sale are tax-free. If you’re single, you are exempt from paying taxes on home sale profits of up to $250,000. If you file taxes jointly with your spouse, up to $500,000 is tax-free. Any profit that exceeds these amounts needs to be reported as a capital gain.
The sale of an investment property you own, such as a rental home or apartments, could mean a chunk of your profits will be lost to taxes. Capital gains tax applies to the profit earned from the sale of a property that is not your primary residence. The IRS allows investors to take the profit earned from the sale of one property and re-invest it without having to pay tax on it. Investors can also offset the profit against losses in other areas to avoid paying so much in taxes, or you could avoid it completely by living in the home for two years prior to its sale. The fine print in all of these instances is important to take note of.
When filing taxes, homeowners can exclude up to $500,000 of their profits if they’re married. Investors can pair their profits with losses in other areas, or re-invest the money earned to avoid the high capital gains tax. Whatever your circumstances, be sure to talk to an expert to fully understand the tax policies and how you will fit into them when selling your property.Read More
While selling a home can be a challenge in any market, selling a vacant lot or piece of land in the Virginia location, Maryland location, or Washington DC location can be even more difficult. With a vacant lot, you can’t showcase a beautiful home, and the buyers are different. For these reasons, different aspects like size, location, zoning, and the neighborhood are much more important. Choosing the best method to sell can also be tricky. Here are our tips for selling land without a home.
Know What the Buyers Want
Since you can’t have an open house, your land needs to look its absolute best. Buyers will want to know about the size, condition, zoning, and location of your property. Each buyer will have a different plan for the plot of land they purchase so keep that in mind too.
List on an MLS?
Multiple listings services are tried and true tools used by sellers and buyers alike. They are the go-to tool for many real estate agents and are a great way to sell a home. Selling land, on the other hand, can be a little trickier. Like we mentioned, you can’t post any pictures of gorgeous kitchens or spacious living rooms when all you have is a vacant lot. The MLS might not always garner you the most money and you’ll have to pay a listing agent.
Close Fast and Easy with an Investor
If you want to sell your land fast, you should consider contacting investors in the area. Chances are there is a speculative investor in your area willing to buy your land now. If your land is in a prime neighborhood, your odds of selling quickly increase. Keep in mind, that investors typically offer low prices on the land they buy because they want to flip it or have other plans. On the plus side, they usually won’t require any financing, however.
Whichever method you choose to sell your land, patience is important. If the land is in a great location, you’ll have more success, but if you price your property right, buyers are sure to come.Read More
If you’re in the market to buy a condo, freestanding home, or townhouse in a shared community, chances are the areas are maintained by a homeowners’ association. What are homeowners’ associations and how will they affect your life? Here are the things you need to know.
What is a Homeowners’ Association?
A homeowners’ association helps ensure that shared living communities look their best and everything functions smoothly. This could mean maintaining the neighborhood pool, tennis courts, landscaping, security gates, garbage collection, etc. Communities can’t expect individual homeowners to fix the pool pump when it breaks so the homeowner’s association will take care of the problems should they arise.
Who pays for their services?
These repairs and services aren’t free, so the community pulls together to pitch in. Homeowners’ association fees are typically monthly or annually, and the price that you would pay depends on the size of your home in the neighborhood. A family of six in a large home will probably use the shared facilities more than the single person in a small studio apartment, so the rates are adjusted accordingly.
How are they organized and what are the rules?
Homeowners’ associations have a board made up of homeowners in the community. These board members are elected by other homeowners in the community, and they make all decisions related to the community. Most associations typically hold regular meetings to discuss important issues or decisions and all homeowners are welcome to voice their opinions.
Each community will have its own set of rules or “covenants, conditions, and restrictions” that homeowners will sign and agree to once they move in. These rules can stipulate anything from the size of your mailbox, the type of dogs you’re allowed to have, and more. Associations put these rules in place to make sure the community runs smoothly and is consistent.
If you are buying a home in the Washington DC location, Virginia location, Maryland location, or Baltimore location. It is worth researching the rules of any homeowners association for a prospective property.Read More