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.
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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

Hot and Affordable Maryland Neighborhoods to Buy a House In

Finding a place to put some roots down isn’t easy anywhere. Home buying involves countless factors to be considered and loads of stress no matter where you decide to buy, but it’s especially hard if you’re looking in the Greater Washington D.C., Maryland, Virginia locations.

Living near the city offers unbeatable convenience, whether it cuts down commute time or keeps you close to the nation’s monuments, everyone wants a different aspect of city life. Even if it comes at a cost. But for most families looking to settle down near Washington D.C., the main problem is space. It’s the hunt for space, a garage, a yard, and uncrowded streets that ultimately draw people a little farther away from the heart of the city and into neighborhoods that may not have been on the radar in years past but are becoming more and more appealing as prices go down and new developments arise.

So what makes these neighborhoods attractive?

Southeast D.C.’s Marshall Heights has been catching fire in terms of affordability, but what most don’t know is that just bordering this hot neighborhood on the Maryland side is a great community with an unbeatable price-per-square-foot value in the 20743-zip code.

Value is increasing in neighborhoods across Prince George’s country as well, which has historically been cheaper than other D.C. communities. The Hyattsville area offers drop-dead gorgeous cape cods and Victorians that are charming and reasonably priced, considering proximity to the city. District Heights is a budget-friendly community with a $204,500 median home price which is 30% lower than the Maryland average, and not much added commute time.

You can’t really go wrong picking the right Greater D.C. school district for your kids. Marlow Heights, Hyattsville, and most Prince George’s County schools spend an impressive $16,054 per student compared to the country’s average $12,383 and has an impressive student to teacher ratio.

While the District of Columbia and Alexandria have been the places to watch for in the past, these Maryland neighborhoods are worth keeping an eye out for, something tells us you should take a look at these neighborhoods sooner rather than later.

Top 5 Hottest Neighborhoods in Northern Virginia

Northern Virginia is a unique area, close to the nation’s capital yet without all the commotion of big city life, making it a great area to settle down in, no matter what your interests or stage in life. Because of its technology sector and its proximity to D.C., the economy is stable and wealthy, yet diverse and filled with vibrant local communities.

A mix of suburban and urban areas, Northern Virginia has something to offer everyone from the great schools to the many outdoor activities and the shopping and dining options.

There are many great neighborhoods in Northern Virginia! Here are just five of the many best neighborhoods to live in NOVA!

  1. Del Ray

This neighborhood, just minutes away from D.C., is a surprisingly slow living focused community with an abundance of single family dwellings and local shops and eateries. With its historic and eclectic architecture, this area has definite suburban charm, making it the perfect place to raise a family.

  1. Shirlington

This lively and pet-friendly community attracts business professionals and creatives with its up-and-coming small town feel, due to a recent revamping of the area. It also boasts a great community focus, and numerous local shopping, dining, arts, and outdoor spaces.

  1. Mosaic District

This fashionable neighborhood is Known for its abundance of local shops and restaurants, including boutique and luxury shops, farmer’s markets, and many other foodie and fashion attractions. Its townhouses, beautiful apartments, and homes are complemented by many dynamic businesses, shopping centers, and green spaces.

  1. West Falls Church

This suburb of D.C. is rated one of the best places to live in VA with many opportunities for fun, food, fitness, and art. Its diverse culture, as well as its outdoor attractions, make it a great neighborhood for young professionals and families alike.

  1. Reston

With its booming economy, diverse attractions, and famed Reston Town Center, this neighborhood is a beautiful place to live with an abundance of larger homes, townhouses, and luxurious apartment suites. Its growing developments and local community create a happy medium between an urban and suburban feel.

As always, if you are interested in selling your house in Virginia, let us know.

The Best Up and Coming Washington DC Neighborhoods to Buy a House

The term best is really quite a subjective word, especially when you’re discussing real estate in the Washington D.C. location.  But, as we end 2018 and fly into 2019 there are a few neighborhoods that everyone would agree are definitely “up there” when it comes to the best places to buy a home or invest in real estate in the coming year.  Let’s check em out!

Kingman Park

Right next to Capitol Hill, this up and coming neighborhood has two big things going for it.  First it’s right next to Robert F. Kennedy Memorial Stadium. And second, it’s still quite affordable!  Right now The District of Columbia is renovating the RFK campus and many people think the surrounding neighborhoods like Kingman Park will be big beneficiaries of this.  As of now, you can grab a livable row house for about $400-$600K. Not a bad investment with a bright future!

Edgewood.

In the Northeast corner of the District, this neighborhood is nestled right in the middle of the Bloomingdale, Brookland and Eckington, three areas that have seen explosive housing and retail development over the last few years.  The great thing about Edgewood is that it’s close to all the new amenities of these three booming neighborhoods, but you can purchase a quaint row home here for roughly a third of what you’ll pay in Brookland. You’ve got a great restaurant scene and you’re right next to The Catholic University of America, the Brookland Red Line and Monroe Street Market.  What’s not to like?

Hillcrest

If it’s more of a suburban feel you’re after, this neighborhood is located in the Southeast corner of the District and a short commute to Capitol Hill.  You’ll find charming brick colonials for about half the price compared to Capitol Hill row, and the views are incredible!

Two Hot New Neighborhoods in Northern Virginia

Maybe you’re already living in the D.C. Metro area and looking for a change of pace, or maybe a new job has you relocating out this way. Either way, it’s great to know where the up and coming neighborhoods are located, and we’ve made the perfect list!

Pimmit Hills

In the Falls Church/Tysons Corner area of Fairfax County, you’ll find a hot new community known as Pimmit Hills. New development, great schools and local attractions make it a great place to live!

Many agents feel like the area is undervalued for the location right next to Tysons Corner, but it won’t last for long. The local High School is rated above average compared to other schools in the state by GreatSchools.org, and with convenient metro stops close by, it’s super convenient for commuters.

Stats:
Median Household Income: $101,852
Average Commute Time to DC: 26 minutes
Schools: Lemon Road Elementary, Mary Ellen Henderson Middle, Marshall High
Zillow Forecast: Up 2.2 percent in 2018

Town of Herndon

Founded in 1857, Herndon is in the process of transforming from an old-fashioned town to a bustling and revitalized art-focused and interesting community.

Currently, the city is teamed up with Comstock Partners to build out an 18,000-square-foot arts center, as well as some new retail and residential space. The plan is for this to be completed within a couple years.

But the new art center isn’t the only reason Herndon makes the HOT neighborhood list. Stroll around and you’ll find ArtSpace, a place for local artists to showcase their work in the galleries and aspiring artists can take classes, Friday Night Live concerts in the summer, fun restaurants such as Jimmy’s Old Town Tavern and The Ice House Café & Oyster Bar, and even a local farmer’s market open from April through November. It’s a great place for families and young professionals alike!

Stats:
Median Household Income: $101,872
Average Commute Time to DC: 25 minutes
Schools: Herndon Elementary, Herndon Middle, Herndon High
Zillow Forecast: Up 1.8 percent in 2018

How to Find Good Tenants

Finding the right tenants in the Maryland location, Virginia location, or Washington DC location is essential to having a good renting experience.  Your property is an asset and you need to be able to trust your tenants to take good care of it.  Approaching the search for tenants in a businesslike way is the key to finding the right people. Here are some tips to help you fill your rental with good tenants.

Know the Law

Every state, town, and county has its own rental laws.  Make sure you understand the laws for the location your property is in.  This will help you create a lease document that is lawful and fair for both you as the landlord, and your tenants.

Select Advertising

Advertising your open property is a must to finding the right tenants, but be selective where you post your listing.  There are sites such as rentals.com or zillow.com that may charge you a fee for your post, but will bring you better results than free sites such as Craigslist.  Put up a sign in the window or lawn of the property, and advertise locally in stores or newspapers. Provide details and the rent to get responses from people who are actually interested.

Application

Always have a rental application asking for names, social security numbers, income, and previous landlord references.  Run a background check on potential tenants. Many renters expect to pay for this, so you can charge a one time fee to do so.

Strong Lease Agreement

Spend the time before you look for tenants drawing up a strong lease agreement that clearly details the responsibilities of both the landlord and the tenants, late rent fees, occupants, and terms for evictions.  Even if something seems obvious, spell it out in the lease.

Set the Bar High

Just because ten people have applied doesn’t mean you have to choose one of them.  Don’t lower your standards for a tenant just to get your property rented. Keep looking until you find a tenant you feel good about.

Landlord and Tenant Laws in Maryland

When it comes to renting a house in the Maryland location, every state has its own laws laid out for both landlords and tenants.  These laws protect both parties in various situations and provide the framework for rental agreements. If you’re looking to rent a house in Maryland, here are a few of the most important laws you need to know.

Security Deposits

Maryland law puts a limit on how much money a landlord can require for a security deposit.  A landlord cannot hold more than two months’ rent as a deposit and is required to return money owed within 45 days of the tenant vacating the property.  A landlord who asks for more than the total of two months’ rent is breaking the law.

Withholding Rent

Did you know that in some cases, it is within your rights to withhold your rent?  A rental agreement between a tenant and landlord lays out all the responsibilities of both parties.  If the landlord does not uphold their end of the bargain, you can hold your rent money until they do.  For instance, if a landlord refuses to take care of an imperative repair, such as a broken water heater, you can keep your rent until they do.

Tenant Protections

A number of laws are specifically geared toward protecting the tenant.  One example a law that protect tenants from retaliation of the landlord when practicing their legal rights.  If a tenant complains to the authorities about unsafe living conditions, landlords are not allowed to take action against them.  Evictions, handling abandoned property, and fair housing rights are also all covered through Maryland laws.

In addition to state and federal laws, Maryland cities or counties could have their own laws as well.  When looking for property to rent in Maryland, take the time to read tenant/landlord laws for the state as well as the county and town you’re looking to move to.  

Taxes Involved When Selling Your Property

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.

Primary Residences

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.

Investment Properties

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.

Summary

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.