You're Ready to Sell, But is Your Agent About to Take a Long Break?
You're Ready to Sell, But is Your Agent About to Take a Long Break?
Well, it's October already and your thoughts may just be starting to turn to the upcoming holidays, maybe even moving to a new home in time for the celebrations.
With just over seven weeks to go until Thanksgiving, time is getting tight, but it's still possible to close on the home you've been looking for and be ready to entertain guests in your new surroundings.
Clearly there isn't a moment to waste, but stay calm and devote as much time as possible to finding the home you seek.
Time management is clearly critical in these circumstances. If you have some vacation time, then now might be a good time to take it so you can view homes without delay, and in a situation that's as relaxed as possible, enabling you to make an informed decision.
It's also vital to ensure you have everything lined up in terms of your finances. We'd advise any buyer to be pre-approved for the required level of mortgage before any home search, but if you're working to an immovable deadline it's arguably even more important, so that there are no unnecessary delays once you've made an offer and look to close as quickly as possible.
Finally, be certain you're teamed up with a motivated and pro-active buyer's agent. The best buyer's agents will often know about homes that meet your needs even before they are officially on the market, meaning that you can be among the very first to view them - a huge advantage when you're working to a tight timescale in today's competitive conditions.
We'd be pleased to help you to achieve your goal of being settled in before the holiday fun starts. Get in touch with me today and learn how we regularly work with clients to obtain the right home in the timeframe they have available.
Reflections After The Storm
What Do Millennials Look For In a Home?
In this video Aaron Novello outlines what sets The Novello Group apart from other agents.
Usually when buyers and sellers are engaged in the selection process of choosing an agent, often they ask friends for a referral.
With today's internet technology, however, folks are now going online and doing their own homework and studying agent reviews.
Like any other service, such as using reviews to buy a product on Amazon or choosing which restaurant to visit through Yelp, agent reviews on platforms like Zillow and Google essentially provide "social proof" that others have used an agent's service. Good reviews confirm that the agent provides good service, communicates properly, maximizes sellers' returns and makes the home-buying process as smooth and efficient as possible.
It's a great way of developing trust and I encourage you to refer to reviews when selecting an agent, if you're a seller and/or a buyer.
We've had the great fortune of earning a stellar reputation online with 199 five-star reviews. Make sure whomever you are considering for the job can back up their claims of superior service and results with reviews.
Please don't hesitate to get in touch with me if I can help you in any way at all.
Handling Offers When You're in a Hurry To Sell a Property
The strong real estate market conditions here in South Florida could mean that it's a great time for you to cash out of a rental property.
While this can often be a complex decision, today I'd like to address a couple of common key considerations.
Tax efficiency is always a concern where capital gains are likely. However, for those investors who are selling rental property as a means of, say, buying a more attractive or larger property, the 1031 Exchange is a really great option.
A 1031 Exchange enables investors to take money that would otherwise go towards taxes and use it to make more money. It recognizes that you are selling an investment property and using the money to pay for another property intended to be used as an investment.
As you would expect, there are plenty of rules governing what's eligible in a 1031 Exchange, including some flexibility in terms of what can be classed as business property. For instance, you can even include a vacation home if it's only used by you for two weeks out of the year or for less than 10% of the time it's been rented for.
Inevitably, you need to talk to an expert to make the most of this opportunity and we have excellent contacts with experts in this field that we can put you in touch with.
Another concern for landlords can be how to handle the impending sale with existing tenants. Clearly there will be contractual obligations, but effective communication is absolutely key.
It's sometimes feasible to negotiate the sale of the property to a new investor who will be happy to have existing tenants and to honor the terms of a still active lease agreement.
Most of the time however, it's more straightforward to give your tenant the legally required notice to vacate. If a very fast sale is essential, it is not uncommon for tenants to be paid to leave early. Again all a balance of your individual circumstances and needs.
It also makes a lot of sense to put the property on the market 90 days before the lease is up so that the unit is not unoccupied for an extended period of time.
I hope that the above is of help to you and I would be delighted to answer any other specific questions you have if you're exploring the possibility of selling rental property.
Please don't hesitate to contact me.
News from The Novello Group - Should I Relist with the Same Agent?
I'd be very surprised if at some time you hadn't looked to see your home's value on one of the well-known generic home pricing sites.
These sites are great fun and they can at least provide a very, very rough idea of what your home might be worth.
But they most certainly are not accurate.
The fun of getting a home evaluation in this way can lead to unrealistic expectations and ultimately disappointment when sellers come to the realization that the price they were given online was not realistic.
If you look carefully at the definition of the value online sites provide you for your property, you will see based on geographic location, they can be off by as much as 10%.
So why are these home valuations unreliable?
Each site has its own calculation method. There is therefore no consistency to the methodology and also no account taken of current market trends, or actual condition of the property or modifications that have been done.
Ultimately, getting a home valuation in this way is simply not an accurate measure of your home's true worth. To obtain that, you need to engage with a highly experienced agent who will know exactly what is happening in the property's market sector, not only in terms of very recent sold prices, but current buyer trends. When these factors are taken into account in combination with an in-person walk through of the home, the result is an assessment of value that is much more precise.
If you would like to get an accurate assessment of your home's worth, please let us know.