If you're planning to buy or sell a property, you may have heard the term "fair market value" or FMV. But what does it mean and how is it determined? In this blog post, we'll explain what fair market value is, how it is calculated, and why it matters for real estate transactions. What Is Fair Market Value (FMV) In Real Estate? Fair market value is the price that a property would sell for in an open market, with a willing buyer and seller, who have reasonable knowledge of relevant facts, and no compulsion to buy or sell. Fair market value is not the same as the appraised price, the tax … Continue reading...
What costs sellers may not know about.
When selling a home, one must be aware of the hidden costs that can arise. Aside from agent commissions, there are additional expenses to consider, such as pre-sale repairs and professional photography. Improving curb appeal and staging the home can also attract potential buyers. Keeping utilities and maintenance services on during the selling process is crucial. Consider the potential impact of capital gains taxes and be mindful of closing costs, including transfer taxes and processing fees. Other hidden costs include appraisal and inspection fees, pre-sale improvements, surveys, and … Continue reading...
Navigating High Mortgage Rates
Today, I want to discuss something that’s probably on the minds of a lot of folks looking to buy a home: those pesky high mortgage interest rates that just won’t quit. I mean, seriously, they’ve shot up to around 7 percent! Ouch, right? It can feel pretty daunting for many homebuyers out there. But here’s the deal: while it might seem like a tough nut to crack, it’s important to remember that this challenge isn’t insurmountable. There are several things you can do to navigate around the high interest rates so you can achieve home ownership and increase your chances of securing a … Continue reading...
How to prepare your home to SELL!
How To Prepare Your Home for Sale: Focus On The Product Housing markets are cyclical. There are Seller’s Markets and then Buyer’s Markets. What’s a seller to do? One caveat in selling your home that does not change regardless of the market…the perceived value of a property is important to all buyers. This is why it is critical for sellers to start early to prepare their house for sale. FIRST… START to think of your home as a house…a commodity you will have to market. If you have a mural you painted in your firstborn’s room or pencil marks on the door jam … Continue reading...
Here are some secrets in loans that you may want to know.
With rates around 7%, home buyers are feeling the financial squeeze. Here are a few secrets to ensuring they get the best deal they can on their home loan. Couple asking for loan © Weekend Images Inc. - E+/Getty Images Although mortgage rates, which have been hovering near 7% over the last few weeks, are expected to fall in the second half of the year, home buyers have adjusted to higher borrowing costs and home prices. Still, affordability is a big issue: 60% of U.S. cities saw gains in home prices in the second quarter, according to data from the National Association of REALTORS®. And … Continue reading...
Homes in Aurora price from 339,000 to 400,000
3421631 A SFR 16357 E 18th Place Aurora $400,000 3 1 1,004 1,004 1,004 1 No 2012534 A SFR 4945 S Rifle Court Aurora $400,000 3 1 854 854 854 1 No 6743174 A SFR 1664 Ironton Street Aurora $399,999 2 1 984 984 984 4 No BrokerBay 7621809 A SFR 1780 Boston Street Aurora $399,990 2 2 800 800 800 1 No 2804450 A SFR 1745 Jamaica Street Aurora $399,000 2 1 694 694 694 4 No 2669209 A SFR 1164 Chester Street Aurora $399,000 3 1 782 950 950 4 No 9958063 A SFR 14225 E Montana Circle Unit# … Continue reading...
Searching for a new home, consider this information when looking.
When you are searching for a new home, location is one of the most important factors to consider. You might love a house, but if it’s not in the right neighborhood, it may not be the right house regardless of how much it appeals to you. So, before you start scrolling through home listings online, it is smart to have an idea of WHERE you want to live. Here are some things to consider when searching for the right neighborhood: You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody … Continue reading...
Should I put my home on the market now or wait till Spring?
Should I put my home on the market now or wait until spring? This is by far the question I'm asked most during the fall and winter months. It's as if people think that those who want to buy or rent a home stop wanting housing when it gets cold outside. For the record, they do not. There is a steady demand all year long. Image by Tumisu from Pixabay Let's look at the potential buyers of your home It's true that a majority of families with school-age children prefer to move during the summer months when school is not in session. However, there are also families with non-school-age … Continue reading...
Buying a new Build house
Buying a new construction home can be an exciting experience. From being the very first owner, to customizing your home’s features, there are a lot of benefits. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference. An article from The Mortgage Reports sums it up like this: “Your Realtor or real estate agent will be key to helping you navigate this process. . . . they can guide you through construction and help anticipate and solve for any possible snags along the … Continue reading...
Things to think about when selling your home
When you are selling your home, you want to make a good impression on potential buyers. You want them to see your home as a place where they can live comfortably and happily. You want them to fall in love with your home and make an offer. But sometimes, even if your home looks great, there is something that can ruin your chances of selling: bad smells, or "housitosis." Smells Are Powerful They can evoke memories, emotions, and associations. They can also influence our mood, behavior, and decisions. And when it comes to buying a home, smells can make or break a deal. According to a … Continue reading...