The Real Estate Partners Who Help You With Your Home Sale
The process of selling your home is a complicated process with a lot of different activities going on at the same time. Many of the activities are dependent on each other in that the success in one will allow the other to be successful as well. For instance prior to the mortgage lender being able to fund the loan commitment the house must appraise at or above the amount that is being borrowed to purchase the home. In the end though all the activities associated with selling your home do go to one end point and that is the actual sale of your home to the buyers. This article will explain to you the partners who will be working with you and your buyers to help get your home sold.
Putting Home On Market and Purchase Offer
When putting a home on sale a majority of home sellers (more than 85%) use Realtors to list and market their home for sale. Realtors partner with home sellers in order to provide input and guidance on home preparation, home staging, pricing and more in order to put the home in the best possible light for home buyers. Once the preparation stage of the home is complete the home is put on the market through the Multiple Listing Service.
A Realtor will submit an offer on your home in a majority of situations on behalf of their buyer clients. The offer will contain the purchase amount, how the purchase will be made (cash, financing, some other means) and will contain contingencies conditioning the purchase of the home upon home inspection, ...
Greater Cincinnati Real Estate Market Report
Want to know what happened during the May 2016 Cincinnati Real Estate Market and Northern Kentucky Real Estate Market sales period? You have come to the right place. Read on to get the latest statistics and information in the May 2016 Greater Cincinnati Real Estate Report. Home inventory is still low around the Greater Cincinnati area compared to a year ago and sales are also up.
Cincinnati, Ohio - Hamilton and Clermont Counties
In May there were 1179 homes that sold during the month for Hamilton County and 288 homes that sold in Clermont County. Homes that went pending in May were 769 for Hamilton and 219 for Clermont County. Pending status means they had an offer accepted and were awaiting closing pending inspections, appraisals, financing etc.
- The average listing price for homes in the Hamilton County area was $276,930.00 with an average selling price of $196,187.00.
- Hamilton County homes during the May time frame were on the market (Days on Market) for an average of 74 days.
- There are currently 3,008 homes available for sale in Hamilton County.
- The average listing price for homes in the Clermont County area was $240,198.00 with an average selling price of $191,415.00.
- Clermont County homes during the May time frame were on the market (Days on Market) for an average of 62 days.
- There are currently 674 homes available for sale in Clermont County.
Ready to Sell or...
10 Important Real Estate Seller Terms To Know
When selling your home you will encounter many different real estate seller terms used during the process. By knowing what the terms mean and how they apply during the home sale you can understand what is going on and make sure you do what is needed to keep your home sale on track. Be sure to also check out important real estate terms to be familiar with and important mortgage terms to be familiar with for more real estate terminology.
Breach of Contract – Breach of Contract refers to the event where any party to a contract indicates verbally or through actions that it does not intend to complete the contract. In the case of a home sale an example of breach of contract would be the buyer telling the seller they no longer wish to purchase the home because they found another home they like better. Once the buyer and seller have entered into a contract both parties must perform the actions required of them by the contract. A breach of contract can result in a lawsuit to force the non-performing party to perform or to seek damages for failure to perform.
Contingency Offer – A Contingency Offer is an offer to purchase a home with conditions that must happen first before the home will be purchases. Sometimes home buyers will make an offer to purchase a home that has the condition that they first be able to sell the home they own. If the buyer’s...
Northern Kentucky Real Estate Market Report
Want to know what happened during the May 2016 Northern Kentucky Real Estate Market sales period? You have come to the right place. Read on to get the latest statistics and information in the May 2016 Northern Kentucky Real Estate Report. Home inventory is still low around the Greater Cincinnati area compared to a year ago.
Northern Kentucky - Boone, Campbell & Kenton Counties
In May there were 228 homes that sold during the month for Boone County, 133 for Campbell County and 239 homes that sold for Kenton County. Homes that went pending in May were 205 for Boone, 87 for Campbell County and 217 for Kenton.
- The average listing price for homes in the Boone County area was $268,171.00 with an average selling price of $203,332.00.
- Boone County homes during the May time frame were on the market (Days on Market) for an average of 75 days.
- There are currently 560 homes available for sale in Boone County.
- The average listing price for homes in the Campbell County area was $243,347.00 with an average selling price of $157,510.00.
- Campbell County homes during the May time frame were on the market (Days on Market) for an average of 103 days.
- There are currently 389 homes available for sale in Campbell County.
- The average listing price for homes in the Kenton County area was $222,830.00 with an average selling price of $160,750.00.
- Kenton County homes during the May time frame were on the market (Days on Market) for an average of 88 days.
- There are currently...
Tips For Financing An Investment Property
Using a mortgage for financing an investment property is quite different than taking out a mortgage for a home you intend to live in. Since you will be living in the home you are borrowing for lenders are more comfortable lending you money to purchase that “owner occupied” home since as a resident you are more likely to take care of it while living there. On the other hand buying an investment property where you do not intend to live in may mean you are less likely to care for it or may take on higher risks with the property than the lenders are comfortable with. As a result the lending criteria for investment properties are much stricter and the interest rates are higher than they are for owner occupied homes.
How Much Money Do I Need To Put Down When Financing An Investment Property
The amount of down payment required for financing an investment property depends on who the lender is and what type of property you will be purchasing. Some smaller lenders who hold the mortgage in their own portfolio rather than selling to a government sponsored enterprise (GSE) may be willing to lend with less money down than a lender who intends to sell the loan down the line. The GSEs like Fannie Mae and Freddie Mac will often buy loan packages from lenders in order to ensure that the mortgage lenders can continue to offer mortgages and not be frozen out of lending more due to lack of liquid cash. For more information on the GSEs and mortgages check out 20 Important Mortgage Terms To Learn About.
If you are buying...
Tips For Picking The Right Realtor To Help Sell Your Home
At times picking a Realtor can seem like picking apples from a barrel. On the surface what you get may be a nice shiny apple, but until you look underneath the skin you are not able to see the worms that have ruined your apple. Finding the right Realtor like finding the right apple means spending more time than just looking for the one that is the shiniest, you need to look a little closer and below the surface to see what you are getting. Finding the shiniest Realtor may not help you have a successful home sale especially if one of the many steps in a home sale/purchase is missed.
Do Realtor Metrics Matter?
Often times Realtors will talk about their statistics and use that as a marketing tool for their services. As with any statistics you need to look beyond the numbers and try and understand what is really being measured. A brand new agent who has only had one listing and was successful in selling that listing now has a track record of being 100% successful. That does not necessarily mean that agent will be successful with their next listing.
Even an experienced agent who claims they have a track record of selling 100% of their listings may not be being entirely honest if they are excluding listings that expired and went on to relist with someone else. They indeed may be selling 100% of the listings they have had but by not knowing how many expired and went somewhere else or how long it took them to sell those listings you are not getting a good idea of how successful that agent really is. If the Realtor took more than 6 months to sell most of their listings that could indicate a Realtor who does not know how to market well and...
Should I Have An Indoor Air Quality Test Done?
In the past indoor air quality was not paid much attention to. When you bought a home you were more interested in the home’s structural and mechanical components than you were in the indoor air quality. With new studies and research indicating indoor air quality is a factor in human health the ability to test that indoor air quality for potentially harmful substances may be important to you. This article explores the process of testing the indoor air quality in your home.
Why Have Your Home Tested For Indoor Air Quality?
If you have an existing home you don’t intend to sell anytime soon, having the indoor air quality tested can allow you to determine if you should make some changes or investments in order to improve your indoor air. With much of our time spent indoors when sleeping or doing things around the home having good clean air to breathe helps improve your health. This is also a very important factor if you are considering buying a home, after all no one wants to move in a home they love only to have their health get worse as a result of airborne mold, allergens or other volatile organic compounds (VOCs).
Home sellers can also can also benefit by having their home tested for indoor air quality by showing that their home’s air is indeed good quality or by showing the extra steps taken to improve the quality. How many other home sellers can say they have had their home air quality tested or show actual improvements that will make the air quality in their home better? If you...