How Real Estate Investors Differ From Regular Home Buyers

Most homes are purchased by families, couples, or individuals who buy a house to live in. It may be their primary residence or a vacation home. They may be downsizing to a smaller house or looking for a bigger place for a growing family. 

Traditional home buyers typically work with a real estate agent to find a home in their desired neighborhood or city. They look for houses they can imagine themselves living in now and in the future. Many home buyers want a move-in ready home, rather than a fixer-upper, and often ask for repairs to be made before they close on the sale.

If a family finds their dream home, they may be willing to pay more than the house is listed at if other buyers are interested, too. This can drive up the price of homes in a market. A homebuyer may have in the back of their mind that the home in an area that might sell for more than they paid for it, but their primary reason for buying the home is not to make money.

All residential real estate investors have one thing in common: they hope to turn a profit. 

A house that interests a real estate investor may have little appeal to home buyers as-is. This includes homes that need repairs or maintenance, haven’t been updated in decades, have a costly structural defect to restoration, or landscaping that needs a lot of work. Real estate investors are more likely than the typical homeowner to have the cash on hand to make those fixes. They can see beyond the problems to the home’s true potential – and their potential profit. 

Real estate investors may ask you right off the bat how much you owe on your mortgage. This helps them to understand your bottom line. The typical home buyer will never ask you this question because it isn’t a factor in their decision to buy your home. You’ll want to consult a real estate attorney to review any contract you plan to sign when selling your house. 

Before you sell to a real estate investor, meet with a real estate agent or two to find out what your house is worth. Ask about market trends and anticipated development in the area. You’ll go into discussions with real estate investors armed with more knowledge to make a smart decision. 

We at 8 Day Home Sale know how much your home means to you, that’s why we promise to give you a premium, personalized experience every step of the way. Let us help you skip the traditional home selling hassles, so you can get excited about what’s next. Looking to sell your house fast Maryland, Baltimore, Washington, DC and Virginia call us at 240-847-0859 for a Same-Day Cash Offer on Your House

8 Reasons Why Selling Your House to Investors is Better than Realtors

1. You Don’t Have to Pay Commissions and Fees

Most of the time, sellers have to pay commissions and fees to their real estate agent and the agent of the buyer. So, if you sell your house for $200,000, for example, you’ll probably have to subtract about $12,000 off that price and pay it to your real estate agents. But when you sell to an investor without using real estate agents, you do not have to pay these commissions and fees.

2. The Purchase Won’t Fall Through Due to a Bad Inspection or Financing Issues

Did you know that up to 15% of home sales fall through due to inspection and financing contingency? This means that if problems come up during a home inspection, or if the buyer struggles to come up with the proper financing. the entire sale could be off and you’d have to find another buyer and start all over again. But when you sell to an investor, there’s no inspection or financing contingency.

3. You Won’t Have to Deal with Showings

If you sell through a real estate agent you’ll probably have multiple showings, requiring you to get the house ready and leave your property for a few hours during every showing and open house. This can be a bit annoying! When selling to an investor, there is only one showing.

4. You Won’t Have to Pay for Repairs

Selling through an agent requires that you make repairs. You’ll probably need to repair things before putting your house on the market AND pay for repairs that come up during your home inspection. That’s money and time out the window, but with us, we pay for ALL the repairs and take care of them ourselves.

5. There’s No Appraisal Needed

Most home sales require an appraisal, which takes time and controls how much the home will sell for in the end. With an investor, no appraisal is necessary, saving you time and possibly even saving you money.

6. You’ll Get an Immediate Cash Offer

An investor understands your busy schedule and instead of taking your valuable time and making you wait on an offer, you’ll get an immediate cash offer. When you work with us, we will set up an appointment during which we’ll make you a fair cash offer. It’s fast and easy for you!

7. You Can Schedule the Sale Around Your Needs

With a traditional real estate sale, you can’t choose when someone buys your house. It might be inconvenient timing when the right buyer finally appears. But when you sell to an investor like 8 Day Home Sale, you can choose your exact closing date to ensure the sale of your home fits into your schedule.

8. You’ll Get Cash In Hand Quickly

You can have cash in your hands within approximately a week of closing! If you do things the traditional way, the closing date is generally 30 to 60 days after you accept the buyer’s offer, but with this method of selling your home, you can wrap things up much more quickly.

If you have a home for sale in Washington, DC, Maryland or Virginia and you need to sell it quickly, consider using 8 Day Home Sale.
Call us today for an instant quote!

Prince George’s County leads Maryland for Home Price Gains

Prince George’s County, Maryland, remains the most affordable housing market in the D.C. region, but prices there are rising at the fastest pace in suburban Maryland.

Prince George’s is home to Six Flags America, the Capitol Wheel, and the Gaylord National Resort and Convention Center – not to mention a number of parks and gardens full of green hiking trails. The county also lays claim to the University of Maryland’s main campus in College Park, with more than 40,000 students.

In September 2019, the median price of what sold in Prince George’s County was $315,000. That’s $21,000, or 7%, more than the median price of what sold in Prince George’s County a year ago.

The median home price in Prince George’s County is still almost $275,000 lower than the median price in Arlington County, Virginia, the region’s most expensive county for home prices.

In Prince George’s County, two positive trends for sellers over the past year are that the median sale price has increased and the average days on the market has decreased. However, the decrease in units sold and sold dollar volume – especially when paired with the 16.5% increase in new listings – may be cause for concern for investors looking to sell freshly rehabbed properties in the coming months.

For sellers in Prince George’s County, buyers are willing to pay full price. The list-versus-sale price in the county last month was 99.5%, and what sold went under contract in an average of 32 days. The number of homes on the market in Prince George’s County is down 34% from last fall.

If you are interested in selling your home fast Maryland, DC and Virginia residents, there is no better time than now. So call 8 Day Home Sale today at 240-847-0859 for a Same-Day Cash Offer on Your House

What to Look for When Choosing a Rental Property

Are you interested in purchasing property to rent to others in Maryland, Virginia, Washington DC, or Baltimore? Whether this is your first time investing in rental property or if you have some experience, there are a few characteristics you should take into account when considering a property to make sure that you are getting the most for your investment.

Location

The area and neighborhood where the property is should play a crucial role in your decision process. The area will significantly affect the rent prices, the type of tenants that you will attract, and potentially your vacancy rate.

Development Opportunities

Referencing the location, what changes will the area experience in the coming years? If there is significant development planned around the property including shopping centers, apartment complexes, and business parks, it is a good sign and can have positive impacts on the property’s value over time.

Nearby Schools

If you are in the market for family-sized rental properties, the quality of the local schools should play a significant role in your decision-making process. Having quality schools close to your property will significantly improve its value in many ways besides price. For instance, families will be willing to stay longer if their kids are enrolled in a school they like which helps you reduce your vacancy rates.

Work that Needs to Be Done

When looking at rental properties, you should perform an adequate evaluation of the condition of the home. If you aren’t very experienced, you can hire someone to take a look at the property to make sure that you know what you are buying. If the home needs extensive work and you don’t have the skills or desire to fix it, it’s best to pass and find a property that is in better condition.

Property Taxes

Property taxes will vary from area to area, and because you are hoping to generate income from the rental property, you need to know how much you’ll be losing to taxes. Visit the local assessment office to see the property tax rates for the area so you can accurately include it in your revenue estimates.

How to Buy a House in Maryland That Will Appreciate in Value

Real estate is believed to be among one of the top 3 long term investments in the United States, coming only second place to stocks and ranking better than gold. In some economies particularly those in Europe, real estate is ranked highest in stable returns for any investment.

But where does the value of real estate come from? Do you just buy a house haphazardly or are there strategies? When you think of real estate investing, most people make it sound easy. House flipping shows have glamorized real estate, portraying many falsehoods and leaving out pitfalls. In terms of primary residences, many people believe any house they buy will go up in value no matter what. Buying houses should be taken as seriously as all other forms of investing.

Here are some tips for buying a house in Maryland or Washington DC that will appreciate in value:

1. Check your location

Let’s say you see a nice property that is really affordable and is selling at a lower price than the usual market price, it wouldn’t be a wise decision to just go straight ahead and buy the property before doing your research. Go to the local board and look for the plan of the neighborhood. If there is going to be an industrial area or even a land dump close by, the value of that particular property will drastically decrease.

2. Unusually High Houses for Sale

Unless a neighborhood is in its initial development stages, you should be wary of acquiring a property if more than five other houses in the area are for sale. People might be running away from that neighborhood for some a reason. Zillow is a great resource for this.

3. Facilities

What facilities are in the area where you want to purchase property? The three facilities which are a must and will have a positive impact on the overall value of your house are schools, medical centers and shopping malls. If an area does not have these three or any plans indicating that these will be there soon, then it’s not a wise idea for you to get a property in such an area.

4. Fixer uppers are the best

Houses that will require work are usually the best investment. You can buy a house and get a 203K loan for renovations. This will usually lead to $30,000+ in instant equity.