How to Choose the Best Time to Sell a House

Many of us buy our homes expecting to pass it off onto our loved ones eventually, but sometimes, life can get in the way. Maybe our job relocates us, we need to upgrade, downgrade, or every scenario in between. You will need to know when the best time to sell a house is.

To help you get the most value out of your house, we’ve put together this handy guide to show you when it’s the best time of year to sell a house. Learn more and make sure you’re getting the best bang for your buck.

The Best Season to Sell a House 

So, when is house selling season? It’s easy to go with the old adage that you should sell in the spring market, but the area of the country that you live in plays a huge factor. 
Below, we’re going to discuss the pros and cons of the seasons, but you always need to keep your unique circumstances in mind when listing a house for sale.

Selling Your House in the Spring
When does the housing market pick up? For most people, early May is the best month to sell a house. Tax refunds have been saved to make major purchases and the weather has lightened up, it’s more enjoyable for people to browse for homes. Homes also benefit in curb appeal around this time as the flowers bloom and the trees fill out. 
Keep in mind that with the housing market picking up, homes for sale face more competition, and less urgent buyers. Your house may have better curb appeal and gain attention from numerous buyers, but chances are those buyers have a wide variety of equally appealing listings to choose from, making your chances of selling a little slimmer.

Selling Your House in the Summer
Spring isn’t the only time to sell, still, it does offer prime market opportunities. In fact, for some areas, June is the best time of year if you want to sell a house fast.
With summer days come summer daylight hours, extending the time you have to show your home to prospective buyers. People also usually take vacation time this season, allowing you and home shoppers more opportunity to meet. 
Summer also lends a sense of urgency to home buyers. Many need to get into a home before their kids begin school, causing them to make more competitive offers to secure a deal. The summer market also allows you to use the spring sales data to gauge the best listing price.
If you live in areas where the heat becomes unbearable, then the summer months may not be the best time to sell a house. In the summer, you may also find yourself in a seller’s market, as the number of offers on homes increases. You may also have to spend more on making your home show-ready, since this is usually the busiest time for landscapers and contractors.

Selling Your House in the Fall
Fall usually sees a dip in the housing market. However, if you live in an area where spring and summer bring terrible weather or autumn colors enhance your curb appeal, then fall may be the best time to sell a house. 
Even if the prime market is during the warmer weather months, there are some advantages to listing your home in the fall. 
You can easily find yourself in a buyer’s market since many people are settling in for the upcoming winter. Look out to weed out the buyers who are just window shopping. 
By listing in the fall, you also have more access to home renovation professionals and landscapers at a discount, since they’re coming off of larger summer jobs and will be looking for work.
Of course, there is a reason that fall isn’t the prime selling season. The market slows as schools open and the weather begins to turn. Some homes lose their curb appeal as the foliage and plants begin to wither. 
In the fall, you may have to appease more demands due to the decrease in competition between buyers.

Selling Your House in the Winter
Winter, especially December, sees the largest decrease in home sales for most of the United States. The inclement weather is enough to keep most buyers at bay, and even if it’s not, most buyers are spending their money on the holidays. 
However, if you live in a southern state, such as Florida or Arizona, then the winter can be the best time to sell a house.
When selling during the winter months, you normally come across only the most serious buyers. This benefit is two-fold since your house will have significantly fewer competing homes on the market. 
The winter season definitely comes with its drawbacks. If you’re desperate to sell your home, you can be at the mercy of the buyer, making deals and concessions to which you wouldn’t normally agree. You may also have a hard time showing off your beautiful yard if it’s buried underneath a pile of snow.
If you do sell your home, then you have to deal with moving during the coldest time of the year—an unpleasant task, to say the least.

Timing the Housing Market
The season isn’t the only consideration that you have to take into account when deciding to list your home on the market. One of the biggest factors that will decide if you’ll profit or if you’ll falter is your local housing market. 

Selling in a Buyer’s Market
The first thing you want to analyze is your local market conditions, specifically to see if you’re in a buyer’s market. A buyer’s market is when there are more homes up for sale than there are buyers looking for them. 
In these market conditions, you can expect buyers to be pickier, for your home to stay on the market for longer, and for prices to flatline. A buyer’s market can be extremely difficult for home sellers to sit through. 
To make sure that you don’t take too large of a hit to your bottom line, you want to safeguard yourself as best as you can.
First, you want to study your local competition. By understanding what’s on the market in your surrounding area, you can try and leverage any additional features that you have to edge out the competition. If you have a larger yard, a pool, or are closer to a school, then you need to make sure these are highlighted. Whatever little advantage you have over another seller needs to be emphasized. 

Selling in a Seller’s Market
Finding yourself in a seller’s market can be a huge boon. A seller’s market is when there are more home buyers than there are listings. During a seller’s market, you can expect to receive more offers and a chance to sell at the price that you want. 
But just because supply and demand are in your favor doesn’t mean that there won’t be obstacles to selling. You still have to set a reasonable price for your area, and you still have to invest in staging your home.
If you have trouble making decisions, you might have trouble with the multiple offers that you receive to determine which offer is the best for you. You may also have to sell and vacate your home before you’ve established another house. This could lead you into renting a place and having to enter the market as a buyer in a seller’s market.

You Determine the Best Time to Sell!

You might be prepared for the move, or it might be a sudden decision forced on you. But selling your home doesn’t have to be a daunting endeavor. If you want to sell your home quickly and without having to hire a real estate agent, landscapers, and complete major repairs, then you will want the look into a company like us at 8 Day Home Sale.

At 8 Day Home Sale, we offer you a way to escape the need to research the best time to sell a house. With the help of a professional home buyer, selling your home can be a quick, easy and hassle-free task. Unlike the traditional method of selling your house, we buy houses for cash!

Call us today at 301-242-SELL or use our online form to get started! We’ll get you a cash offer within 10 minutes and walk you through the process of selling your house for cash.

5 Reasons Why Selling to a Cash Home Buyer Makes Sense

Is there anything better than cash in-hand? When it comes to selling your house, perhaps not. Selling your home to a cash home buyer or considering cash offers for homes can help you walk away from the closing table quite a bit richer than you were when you sat down. But what is a cash offer, and when is it smart to sell a home for cash?

What is a Cash Offer?

Cash offers for homes occur when a buyer offers a seller cash for the entire cost of the house instead of getting financing from a mortgage lender or other institutions.
Most home buyers must obtain some type of financing to afford purchasing the house, usually in the form of a mortgage. However, a cash home buyer will be able to purchase a home without a mortgage loan or other financial assistance. Cash offers are typically lower than the full market value of the house, but there is a good reason for this. First, cash offers are low risk, as sellers don’t have to worry about buyer financing falling through. Second, most of the reduction in the offer price is offset by the fact that the seller does not have to spend time, money, and resources on selling, upgrading, and negotiating the property.

How Common Is It to Sell a Home for Cash?

Cash offers are quite common. The most common scenarios where cash offers occur are from an investor or investment company interested in a property. In these cases, a homeowner can typically sell their house as-is. However, there are many reasons why a cash home buyer may be interested in your property.
Some home buyers have cash on hand, such as from the proceeds of selling their previous home. Cash buyers are also common in competitive seller markets where financing delays may cause the seller to accept a more enticing offer. This occurs because buyer who can pay cash have an advantage on buying a property over mortgage buyers.
Also, the property is a fixer-upper, a cash sale can help the homeowner sell their house as-is. Cash buyers are also commonly courted if the property is facing a foreclosure, since in these cases homeowners typically must close quickly.

Is Working With a Cash Home Buyer a Good Choice for Me?

There are several advantages to accepting cash offers for homes. First, the average mortgage buyer takes 30-45 days to close, whereas a cash offer may take a week or two. Overall, in a competitive market, sellers will benefit from taking a cash home buyer offer over a mortgage buyer. Buyers with the fewest obstacles are the easiest and most profitable to deal with.
For years now, 8 Day Home Sale has been helping homeowners across Washington D.C., Virginia, Maryland, and Baltimore . We’ve helped every single one of our customers sell their home on their timeline, for cash. If this is something that appeals to you, read on for the five top reasons that selling to a cash homebuyer makes sense.

1. More Flexible and Faster Sale Process

Cash offers for homes are more attractive to sellers because there is no fall-through risk with the purchase and there is a faster closing time. A cash house buyer does not need to obtain a mortgage, as it is implied, they already have the cash for the purchase. Therefore, the mortgage application and approval process can be skipped.
Not having to secure a mortgage also means there is less of a chance that the financing falls through. A mortgage buyer can face financial difficulties, like an employment change or identify theft, which can ultimately derail a sale. Also, the underwriting process for a mortgage takes a month or more, and there is always the possibility that the deal will fall through due to the buyer’s inability to secure a loan during that time. Therefore, mortgage buyers are less reliable and certain.
When you sell a home for cash, there is no mortgage application, documentation, underwriting, or appraisal. There is need for the buyer to sort out the title policy and insurance, provide proof of funds, and sign closing documents, but that may only take a week, maybe two. A buyer with a cash offer will have to supply a seller with proof of funds, which automatically shows the buyer is ready and able to close quickly.
When you sell home for cash, you do not need to enlist a real estate agent. Therefore, you do not have to wait for them to take photos, list your home, or host open houses. A faster closing can put money into a seller’s pocket sooner.
And a closing in a cash offer only involves a settlement statement, title, deed, and a cashier’s check. There is reduced paperwork and lower overall closing costs since there are no lender fees or transactions needed.

2. No Improvements or Updates Needed

In a cash sale, you can typically sell the house as is. When your home is offered in an “as-is” condition, the buyer can take it or leave it. You do not need to agree to making repairs or upgrades to the home before a buyer agrees to sell it. As a result, there are usually only a few, if any, contingencies with cash offers for homes.

3. No Real Estate Fees

Cash offers for homes means not having to pay for a real estate agent’s commission. Typically, commission fees are around 6 percent, which can turn out to be a large sum of your selling price. Although a seller may be accepting less money from a cash home buyer than they would a mortgage buyer, a seller will be saving on improvements, bank fees, agent fees, and interest fees.

4. Avoid Most of the Nitty Gritty

During the home selling process, there are several steps that could go wrong. However, with a cash home buyer, a lot of those make or break steps can be avoided. The deal favors the seller, rather than the buyer, because the buyer knows they are getting a home as-is.

A buyer also does not need an appraisal, as would be required by a mortgage buyer’s lender. Home appraisals are needed by the mortgage lender and are considered part of the cost of buying a home. Therefore, a cash home buyer will usually skip this process. As such, a cash offer can help people sell homes quickly and eliminates the cost and time requires to get an appraisal.

Cash home buyers will end up paying some of the same fees. For example, in either case, a buyer needs to pay an earnest money deposit and pay transfer taxes, escrow fees, and closing cost. This is in addition to the homeowner’s responsibility of purchasing homeowner’s insurance, HOA fees (if applicable), and property taxes.

5. Helps to Avoid Foreclosure

If your home is going to be foreclosed due to an unpaid mortgage, selling your home for cash will help you pay your mortgage and start over sooner. 8 Day Home Sale has helped countless home sellers in this situation, as well as people looking to downsize, sell a property they recently inherited, seniors looking to transition to new housing, and people in countless other circumstances that merit a fast and easy home sale. If you’re interested in working with a cash home buyer, contact us today – we’ll work with you on your timeline, and you’ll walk away from the closing with cash in hand.

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.