Recovering From An Expired Luxury Home Listing
An expired luxury home listing can be a frustrating experience considering all the time and effort involved to have a home on the market for sale. The constant need to keep the home in ready to show condition for three, six or more months can be draining on the homeowners. There are many issues that can account for a luxury home not selling and this article explores those issues in depth and provides some insights for luxury homeowners to help prevent the same situation from happening again.
Pricing Is A Major Factor
Pricing is one of the primary reasons a home will fail to sell. No matter how much money is spent on marketing, staging, photography and more an overpriced home has a huge stigma to overcome. Homebuyers have instant access to thousands of homes on the market each day and are able to compare homes in similar categories to determine if a home is fairly priced.
Homes that are overpriced stand out like a sore thumb. The reason the overpriced home stands out is because they are being compared to other homes in the same price range and the features, quality and size of those luxury homes are commonly shared statistics. If the home being sold is in the same price range as larger homes with more luxury features than most buyers will ignore the overpriced home or might schedule a showing out of curiosity to see if there is something in the home that warrants a higher price. Once homebuyers tour the home and see it does not offer much of over other similar priced homes they will quickly remove that home from any further consideration.
Homeowners can fall into the trap...
How To Turn Your Home Into A Smart Home
With all the talk about smart homes and how they can save money and time for homeowners many may be wondering how they can turn their homes into a smart home. A smart home is not necessarily any one thing that needs to be added and suddenly your home is now considered smart. A lot of the controls from smart homes do start with a smart phone or a tablet and a Wi-Fi Internet connection. As almost everyone these days has a smart phone they can be well on their way towards a smart home with some additional equipment. (Note: Per disclosure requirements, some of the links in this article do pay us a commission if you buy something after clicking on the link.)
Basic Smart Home Features To Consider
The smart home features discussed in this section can be used anywhere around the house that you want to use them. Features like a smart video camera that can be used to monitor your pets, your children, the security of your home and more. These smart video cameras like the Nest Camera, the Yi Camera and more can monitor any room in your home and send video images to your phone anywhere in the world. These smart cameras require an internet and power connection to operate. Some of the cameras are fixed but have a wide angle view that can see quite a bit, whereas other smart internet connected cameras offer the ability to pan and scan around the room to see different things. Not only can these cameras show a live image of what is happening in your home some can...
November 2017 Greater Cincinnati Luxury Real Estate Market Report
As is to be expected during the holiday season home sales begin to slow down as fewer luxury homes are bought and sold. Fewer sellers are looking to put their homes on the market during the holiday season due to travel or family visit plans.
The upcoming tax bill making its way through congress could change the landscape of real estate by eliminating or limiting mortgage interest deductions as well as increasing the time required for a home seller to be in a home to get a tax break on any gain from the sale of their home. Currently a homeowner must live in a house for at least two of the last five years to be entitled to a tax free gain from the sale of $250,000 for a single person and $500,000 for a married couple. In the tax law as proposed the timeframe would change to require homeowners to live in the home for at least five years out of the last eight years. That change in time required to live in a home could potentially slow down housing sales since people will have to stay longer in the home if they want to sell and not be taxed on the gain. Ultimately what the final tax bill says still remains to be seen as the U.S. Senate and House of Representatives are still negotiating a reconciled bill to send to the President.
Consumers Shift To High Gear, But At What Cost? by Mish Shedlock
Relocating to Cincinnati, Ohio? 14 Reasons You’ll Love It!!!
Planning on relocating to Cincinnati, OH? Here are some reasons why you will love the Greater Cincinnati Area which encompasses parts of Indiana, Ohio and Northern Kentucky. You can travel between the three states and still be close to your home. Cincinnati has lots to offer for anyone looking to relocated here, where you want hip uptown living, suburban neighborhoods or rural living. Be sure to check out the Cincinnati Life Facebook group to get up to date information and check out the wide range of homes for sale in Cincinnati and Northern Kentucky.
Cincinnati has a vibrant community with plenty of places to go, meet and be social. Whether you want to join a local club, attend classes to enhance your knowledge, attend the theater, or more you are bound to find someone with mutual interests. The different neighborhoods in Cincinnati have a lot of different options to offer. Whether you want the Downtown Cincinnati feel, the Over The Rhine hip place to be, or prefer a more relaxed living in neighborhoods like Anderson, Delhi, Alexandria, Florence or more Greater Cincinnati has what you are looking for.
2. Cincinnati Is A Food Lovers Paradise
For the past few years a number of...
What Is The Purpose Of The Final Walkthrough When Buying A Home?
After an offer on a home has been made, appraisal completed, inspection done and repairs negotiated, one of the last activities done prior to the actual closing on the home is the final walkthrough. While a final walkthrough is not required it is highly recommended and serves a great purpose both for the home buyer as well as the home seller. In the final walkthrough a homebuyer makes one last tour of the home in order to see the condition the home will be in once the buyer takes possession. If there are major issues found during the final walkthrough then the buyer can refuse to close which means the transfer of ownership will not take place. Usually the closing is put on hold until the issue is taken care or although in the rare occasion a closing can be completely called off if something substantial is discovered during the final walkthrough.
After closing and taking possession of the home the buyer is generally responsible for everything associated with the home. Of course if the seller failed to properly disclose an issue that should have been disclosed then the buyer may have recourse against the seller, but that is a topic for another article. In this article the importance of the final walkthrough is explored along with suggestions for both the homebuyer and home seller as to what they should be doing prior to and during the final walkthrough.
How Should A Homebuyer Conduct The Final Walkthrough?
The final walkthrough is not a time to have another home inspection and look through the home with a fine tooth comb. A home inspector...