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Archive for the ‘Real Estate’ Category

Can You Make Your Property Irresistible?

06 Feb

This is what you need to find out in order to get your property off your hands.

Whether you are selling or renting, there is always something more you can do to ensure you get it rented/sold before you start losing money. This is because:

  1. It is really hard for people to get a mortgage at the moment, so you need to give potential buyers some inspiration in order to make them go the extra mile to get that deposit.
  2. There is a ridiculous amount of competition for rental properties at the moment and prices in the most sought after areas of most cities are astronomical.   Why should they rent your property?

So what can you do to your property to make it absolutely irresistible?

Price

While clearly the price is going to be a major factor in how many people are able to make an offer for your property, you don’t exactly want to sell it for less than it’s worth…what would be the point unless you’re in a rush. No the best thing to consider when it comes to price is, if possible to try and dip the price below the nearest stamp duty tax threshold. These are as follows (for non-first-time-buyers, to keep it simple):

  • Under £125,000 – Pay 0% tax
  • Under £250,000 – Pay 1% tax
  • Under £500,000 – Pay 3% tax
  • Under £1million – Pay 4% tax
  • Over £1million – Pay 5% tax

Being able to make this big saving on tax will be something that many buyers are looking for, so if you can set that price and make it clear to people what they will be saving, you should have a lot of interest.

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What Realtor is Right for You?

20 Dec

Choosing a realtor for the sale of your home is an overwhelming task. With a multitude of options and specialists on the real estate market, making an informed choice regarding a realtor that has your best interest at heart is vital. As you search for a professional to sell your home, it is important to differentiate between realtors and real estate agents. While a real estate agent sometimes follows less stringent codes of conduct, realtors often have much more difficult certification practices and licensing procedures. Take a look at the following suggestions to get a better idea of what you should look for as you search for the right expert to sell your property.

Narrow Down Your Options

Narrowing down your available options to a much shorter list of possibilities will help you begin to look at credentials, small details and experience of prospective realtors. Ask trusted friends and loved ones about realtors they trust and recommend to find a starting point for your search. Once you get a list of proposed realtors, do some preliminary research about the licenses, office location and even Better Business Bureau ratings to discover more about your candidates. As you find out more about your considerations, make a list of questions you can ask them that will provide background and additional information.

Ask Questions

Sitting down face to face with prospective realtors is one of the most important steps that will reveal a lot about your candidates and help you narrow the playing field even further. Ask about past experience and the results of home sales they have taken on previously that were similar to your own property. Question the various listings they propose for your home.

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The Fight Against Property Taxes

17 Dec

Property taxes are a necessary evil, but understanding how your rate is established can insure you aren’t paying more than your fair share. Understanding how your property taxes are calculated will help you in a variety of situations. Predicting costs associated with a prospective home, making sure your current rates are not resulting from over appraisal, researching rate calculation and informing yourself about local property tax rates is vital for all homeowners. Check out the following guidelines to gain a greater understanding of the math behind your tax rate.

Uncover Your Property Appraisal

What your property has been valued at is a key component to understanding how much you pay for property taxes and why you pay that specific rate. A professional property assessor is responsible for coming up with the value of your property by following a set of established criteria. Researching how your particular appraiser has come up with your home’s value can often be revealed by studying the information they used as well as any notes they took when coming up with your number. Knowing how that value was developed will also help you spot any discrepancies, saving you money in the long run.

Study Estimated Tax Rates and Deductions

Looking at the estimates for future tax rates in your area is important information to get your hands on to help you prepare. In addition, factor in any deductions that you expect to be able to take in the coming year.  This will give you a more complete picture of how much you will have to pay for in the near future. You can talk to a tax professional to get a better idea regarding possible tax deductions and make your calculations and estimates even more accurate.

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Why Should You Buy a Small House?

09 Dec

Considering the purchase of a home next year? As the real estate market continues to struggle great deals are available for those looking to make a change.

But what type of home should you consider? With all of the variety you have to choose from, a smaller home may be just what you are looking for. Today, more people are settling into smaller homes and a simpler lifestyle. Consider some of the reasons for this transition.

Smaller homes tend to cost less when it is time to pay the mortgage but this isn’t always the case as other factors can determine the price as well. But when you look in the same neighborhood the smaller homes tend to cost less.

The mortgage isn’t the only way a smaller home saves you money. It takes money to keep your home running.

You pay electricity, water and gas on a monthly basis. A smaller home takes less energy to heat and cool as the seasons change. There is a good chance that you are going to pay less for these comforts within a smaller home.

Utilities aren’t the only money saving example for a smaller home. At some point in time your home will require maintenance. You may need to have the entire outside painted. It could be that the flooring needs to be replaced. No matter what tasks you need to complete, it will cost less in a home with less square footage.

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A Few Tips for Selling Your House

25 Nov

Selling your house can be a traumatic event for a number of reasons.  Once the “housing bubble” burst, thousands of Americans found that they were unable to pay their mortgages.  While thousands of homes have gone into foreclosure, many home owners are attempting to sell their homes before their financial circumstances become worse.  By selling voluntarily, they avoid many of the additional problems that come with foreclosure.  Other home owners choose to sell for a variety of different reasons – relocation for work, moving to be closer to family, retirement, etc.  Whatever your reasons for selling your home (or trying to sell your home), it is important to be aware of a few things that may help you to make a sale in a very tricky, “buyer’s market” real estate situation.

One useful tip is to simply get the word out through every free medium possible.  Word of mouth advertising is usually the most effective, and selling a house is not necessarily any different.  Call in favors and use every contact you have.  Someone will want to buy your house; you just haven’t figured out who it is yet.  Phone calls, emails, and social media can help you to get the word out.  You may be able to find a buyer just by going through your own contacts.  It’s certainly worth a shot.

If you go through a realtor, ask around to find someone who is assertive and motivated, and who will take on the challenge of selling the house at a high enough price so that you will not take a loss, even after paying his or her fee.  It is a good idea to find a realtor months before you actually intend to put the house on the market.  Many good realtors will do a free inspection of the house, and tell you what upgrades will be absolutely necessary in order to sell it.  A good realtor knows how home buyers in your area think.  Repairs that you might overlook may be absolutely necessary for selling the house, while upgrades that you assumed were important may not be worth spending your money.  If you have this information ahead of time, you can invest your time and money wisely to do the upgrades that will actually make a difference when showing your house to prospective buyers.
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