For Sale by Owner, Investing, Real Estate Investing, Sell Your House, Short Sale, Uncategorized

Why Spring 2021 will be a great time to sell your house

credits: flashpack.com

With the Covid vaccination in the US, real estate in the DMV area is gaining confidence. Home sellers will be getting ready to dispose of their properties to get their investment back. Housing demand is high for the first quarter of 2021 and will continue this spring.

Low Mortgage Rates

With the pandemic, home selling is quick as buyers are taking advantage of low mortgage rates and it might end soon after this season.

Limited existing homes for sale

Buyers are actively looking for the perfect home this spring especially now that covid has changed the way people work.

Taking advantage before summer

With 3 Million vaccinations on a daily basis, the economy might go back going faster. Mortgage rates will go higher, home buyers will decrease and the window of opportunity of selling your home will take a longer time than we expect. 

Home Sellers will be on the rise

Home sellers will be on the rise this summer, traditionally, people are ready to sell their property this season. Competition in home selling will rise so get ready in preparing your property. We have tips for you in selling your home. Check it out in our blog section.

In conclusion, this spring 2021, let’s take advantage of this opportunity and sell your home. Even old houses can be bought in less than 8 days with an investor like 8 Day Home Sale. Take action and decide to sell it before summer. 

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Flipping, For Sale by Owner, Investing, investor, Real Estate Investing, Sell Your House

3 Reasons why more old house sellers trust wholesalers

Several years ago, more and more people are selling their old properties and having a hard time selling them. 

It usually on average takes them 6 to 12 months before they can sell their property. Renovating, dealing with realtors, and finding buyers for their old houses. Shelling out money for renovation, finding the best realtor to deal with, and scheduling with prospective buyers are time-consuming activities for many sellers.

With these concerns, real estate investors came up with the idea of buying it directly from the seller and gives them fast cash. Cash, in just 8 days or less.

Here are 3 reasons why you should trust wholesalers/investors to take care of your property:

  1. No broker/agent’s commission

Since wholesalers will buy it in cash, you do not need to give them a part of your sale, that’s 5% of the sale price. If you sold your property for $100,000, you will give the agent $5,000 upfront. If your property is around $300,000, it’s $15,000 for the real estate agent. 

  1. No more renovations for your property

It is also a great idea to renovate your property, right? Well, for some, it’s a good idea to do it because they will have to manage and design the kitchen, bedrooms, and bathrooms. But sellers will have to shell out around $30,000 to $70,000 on average to renovate the property. The seller will also spend 2-4 months of renovation. That’s a lot of money and time to spend if you ask me. Why not let the investor do the fixing and renovation for you? There’s a lot of real estate investors who are great at renovating properties, especially in the DMV area.

  1. Wholesalers buy your property fast

If you have decided to sell your property and you really want to get money fast, strongly consider selling it to a wholesaler. They can buy your property in 8 days or less if they see your property as a good fit at the right price. You can save a lot of time (around 6 to 12 months) and money (50 to 100k), conveniently walk away with what you really want.

In conclusion, wholesalers are there to help you out, solving out the concerns of sellers wanting to sell their properties at a convenient time. If you take a look at it, it’s also the same, shelling out money for commissions and renovations, scheduling appointments for the right buyer compared to selling it to a wholesaler at the right price.

Do you want to save one of the precious commodities on earth? Time? 

Then talk to wholesalers like 8dayhomesale. They handle Washington DC, Maryland, and Virginia. They buy houses and take great care of the next buyer.

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Buying a New House, Home Ownership, Investing

How to buy a house in Washington, Maryland, and Virginia

A lot of movers, renters, and buyers of properties are taking considerations moving in Maryland, Virginia and Washington, DC.

But wait a minute, buying a house is not that easy, it’s not just a beautiful interior of the property is the only consideration in getting that dream house. We have listed down, factors to consider in choosing the best home for you because home buyers are very important to us.

Commute to work

If you were relocated to a new location by your employer, you have to consider the time getting to work. Less time to travel means less energy spent and more productivity for you. More time with your family, less stress means a healthier lifestyle.

One tip is to use Google Maps with your prospective property and your new work location. Do not do it on a Saturday with less traffic, do it on a Monday morning and see how long is your work travel. As a result, you will be satisfied with the travel time. You can now add plus points to your property.

Schools and Universities

If you have children, you have to consider what school they will go to, there’s a lot of great schools and universities in DMV (D.C, Maryland and Virginia) so choosing a home means also choosing the school for your kids, too! Check out great!schools.org about the ratings of the private and public schools in your desired property and see what schools to consider.

Check out these top universities in DMV states

Size of the home

It also depends on the perspective of the buyer what size they want in a home, some consider a minimalist or a bigger space. If you want to consider a smaller space, it’s usually near the urban area which is an advantage to those who work in it, less travel time.

But if the buyer is also a work from home employee, or a 2 to 3 times a week go to work employee, they can consider a home which is 1 hour away from their work. The advantage of these properties is that they have bigger floor areas which is best for bigger family. More backyard parties for them too!

Malls and other Commercial areas

A lot of people take considerations properties that are minutes away from groceries, malls and other commercial areas. It also depends on their lifestyles and personalities, right now, you can get your groceries and items to buy in Amazon and Costo thru online shopping.

Great hospitals are also a factor in choosing a property.

So research now and take these factors to consider in getting a property. List those schools, hospitals, commercial areas and be more specific in what you really want. We as real estate investors in 8dayhomesale.com are here to help you out.

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Real Estate Investing, Renovations, Sell Your House

5 Ways to prep your house to sell in the market

5 Ways to prep your house to sell in the market

Selling your house to get a better value in the market will take time. Here are some tips on how to prepare your house to get interested sellers to buy your house.

Hire a Handyman or Contractor

If your house was not recently renovated, we suggest you hire a professional handyman to do the work for you. Fixing tiles, painting walls and ceiling, and doing some rearranging in the kitchen will do many things to your house.

Research Research Research

Timing is everything especially when you will sell your house. It also depends on the season, some buyers invest on winter and spring. Some states have more buyer in summer and autumn, so research the market and get to know when will be the best time to sell.

Clean and Declutter

Buyers or investors love to see prospective properties clean and free from clutters. We suggest you watch “Tidying up with Marie Kondo” on how to declutter and save you some space. You can also earn money from selling old things like clothes, toys and appliances in a garage sale.

Paint those walls

Simply painting the walls will do the thing to make your property look brand new. If you have the time on a weekend, you can paint it yourself and save money from hiring a painter. Paint it white and see the difference from your old wall.

Look for a Real Estate Investor investor

If you want to sell your house fast, we suggest you search for an investor to save you time and effort. 8 day Home Sale gives you an opportunity to save you the time and money to do all those things like paperwork and fixing the house. Let us help you with all the work and take care of the rest.

Moving out from DC, Maryland or Virginia and move to a prime location? Check out our site for more details on how you can sell your house fast.

If you have a property and want to sell it fast and as-is, meaning no more hassles of agent’s commission and home renovation, check out our blog Everything You Need To Know About Selling Your Home As-Is.

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House Title, Sell Your House

How to Sell Your Inherited House with Title Issues

You’ve taken the first steps and said, “sell my house.” You already know that you are in for a long haul. Whether you are going to try to sell the house on your own or pay the extra commissions and fees for a real estate agent, you are still looking at waiting six months to a year just to find a buyer. Now you are hit with another delay: you have title issues you weren’t aware of, and that could add days, weeks, or even months to the time it will take you to sell your Washington, DC house.

Does it really have to be such a frustrating hassle? Isn’t there an easier way to say, “sell my house” when it has title issues? There is an easy solution – but first, let’s take a look at what it means to have title issues with your house.

Title issues appear when the owner and seller of the house does not have the legal right to sell the property, or when there are defects that prevent the seller from being able to transfer the title of the home to the buyer.

There are a lot of reasons this could happen, and it isn’t as uncommon a problem as it may seem. For instance, if you inherited the house from a trust, you may be surprised to find out that one of the beneficiaries or co-owners listed on the title of the home is overseas or can’t be found. Without that co-owner’s signature, you can’t legally transfer the title of the home to the new buyer.

More commonly, wills, heirs, trusts, divorce decrees, liens for child support, past-due spousal support, fraud and forgery issues between spouses (when one spouse signs the signature of the other spouse on a document or deed without telling them), defective or outstanding tax records, liens (placed by a general contractor against a property), bankruptcy filings, or court judgments could all impact the title of the home and the seller’s ability to legally transfer the title.

All of these encumbrances can be resolved, but it can take days, weeks, or even months. You may not have the added time it takes to deal with the house, or the extra time and legal processes may cost you the sale you already had lined up.

What’s the alternative? Say, “sell my house” to a home buyer and fast-track your way out of those cumbersome and costly title issues. 8DayHomeSale has worked with many homeowners that were selling a house with title issues. Working in conjunction with our partners, we’ve helped many buyers clear their title issues and quickly get to closing.

We have the experience you need when selling a house with title issues. Work with us for a much faster and easier way to sell your home.

If you are hoping to say, “sell my house” in Washington, DC and are feeling trapped by title issues, call us at 8DayHomeSale today.

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Buying a New House, Home Ownership, Sell Your House

A Look at the Increase in Property Values in Washington, D.C.

If you’ve ever been to Washington DC, you’ll understand why thousands of people continue to flock there.  It’s a beautiful city, with a rich history and all the amenities residents could wish for. And for the first time in over a decade, property in the nation’s capital is selling as fast as it can be listed.  Property values are on the rise in Washington, D.C., and don’t show any sign of stopping.

High Demand

The reason for the increase in property values is simple: high demand and short supply.  There are more buyers looking for property than homeowners selling. When the demand is high, prices go up.  Even homes valued in the millions are selling quickly, a strong indicator of the desirability of the area. Houses and condos that are listed in the region are off the market in an average of 18 days.  With property selling so fast, buyers need to be ready to make an offer immediately, and many sellers are enjoying bidding wars, which can drive up their selling price significantly.

New Inventory

With so many buyers looking for a place to call home, new construction and development is expected to increase as well.  Developers can sell these new houses and condos at a premium, since many homeowners don’t want to have to deal with renovations and repairs.  Buyers in today’s market want their house to be move in ready, looking like the properties they see on T.V. and in magazines. These conditions in the D.C. real estate market are all coming together to create the perfect scene for increased property values.

Washington, D.C., and its surrounding areas, have long been one of the most stable real estate markets in the country.  The region continues to enjoy an influx of residents, and the rising property values reflect the high demand for housing, with no signs of slowing!

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Buying a New House, Investing, Sell Your House

Buying/Selling Your House: 1031 Exchange

When you sell your house in the Maryland location, Virginia location, Washington DC location, or Baltimore location, any profits you make are subject to capital gains or recapture taxes.  To avoid paying those taxes, you can reinvest the profits in a new property under 1031 exchange.  To do this correctly, you’ll have to have a properly structured exchange.

There is a timeline for completing this exchange and you have just 45 days to find a property of similar or greater value than the one sold.  You only have 180 days total to complete the purchase of the new property.  This timeline is a bit tight if you want to take your time to shop around.

Like-kind Property

Another restriction on the 1031 exchange is the type of property purchased.  You can’t sell your business property and buy a house, or vice versa.  The property that is sold must be of like-kind to the property purchased.  They don’t have to be exact though.  You could sell a business and buy a business, or sell land and buy an apartment complex.

Debt and Equity

The 1031 exchange needs to be 100% in order to defer the taxes.  This means that the equity or profit from selling the property needs to be reinvested 100%.  If you make $50,000 on the sale of your house, you need to put that full amount back into the new property.  If you owed $200,000 on the property, you need to replace that same amount of debt as well.  You are exchanging the equity and the debt of one property for another.

Hire a Professional

Unless tax law and real estate are areas you considered yourself to be an expert in, you may want to consult a professional when looking at a 1031 exchange.  There are risks involved and if not done properly, you’ll still have to pay the taxes you’re trying to defer.  This is a great option for many people selling and buying a home, but to find out if it’s right for you, take the time to really learn the ins and outs of 1031 exchanges.

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Sell Your House

How to Determine the Market Value of Your House

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.

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Sell Your House

Best Ways to Prepare Your Home to Hit the Market

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!

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Sell Your House

What is the Typical Realtor House Sale Timeline?

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.

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