Homes of Distinction Realty

Posted by Homes of Distinction Realty on 9/17/2017

Want to add your house to the real estate market? If you're operating in a seller's market, you may be able to generate plenty of interest in your house as soon as your residence becomes available.

A seller's market commonly features an abundance of homebuyers and a shortage of home sellers. As such, a home seller who lists a high-quality residence in a seller's market could earn a significant profit.

Operating in a seller's market offers many opportunities for home sellers who prepare accordingly. Lucky for you, we're here to ensure you can get the best price for your residence in a seller's market.

Now, let's take a look at three tips to help you optimize the value of your house in a seller's market.

1. Complete a Home Appraisal

A home appraisal will help you understand your house's strengths and weaknesses. That way, you can perform any home improvement projects before you list your residence. You may be able to boost your chances of a quick property sale too.

Typically, a home appraisal requires just a few hours to complete. A home appraiser will visit your residence and inspect it both inside and out. Then, this appraiser will provide you with a report that details your home's condition.

Review the results of a home appraisal report closely. By doing so, you can prioritize various home improvements and work toward transforming your ordinary residence into one that will stand out in a seller's market.

2. Analyze the Housing Market

How does your residence stack up against comparable houses that are currently available? Examine the housing market to find out.

Evaluate the prices of houses that are similar to your own. This may help you establish a realistic price range for your residence.

Also, look at how long recently sold properties were available before they were purchased. This may help you understand how long it might take for you to get the best price for your residence in a seller's market.

3. Collaborate with a Real Estate Agent

When it comes to selling a home, there is no reason to embark on the property selling journey on your own. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to assist you in any way they can.

A real estate agent can provide details about what to expect before you add your residence to a seller's market. He or she will help you plan ahead and ensure your residence features an awe-inspiring exterior and flawless interior that differentiate your property from others.

Moreover, a real estate agent will help you alleviate stress throughout the home selling journey. This housing market professional can respond to your home selling concerns and questions and provide plenty of guidance to help you make informed decisions.

There is no need to leave anything to chance when you list your home in a seller's market. Instead, take advantage of the aforementioned tips, and you should have no trouble stirring up interest in your house.

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Posted by Homes of Distinction Realty on 9/10/2017

For home sellers, staging a house can help you transform an ordinary residence into a stellar one. And even though it may seem like an expensive process to stage your property, there are many cost-effective ways to do just that.

Here are three cheap house staging ideas that every home seller needs to know.

1. Put Away Your Personal Belongings

Although you may display many treasured antiques and photographs throughout your home, you'll want to put these items in storage before you show your property to potential homebuyers.

Remember, your goal as a home seller is stir up significant interest in your residence. If you keep personal mementos on display in your house, it may be tough for homebuyers to envision what life would be like if they purchased your home.

When it comes to home staging, putting away your personal belongings is a must. Lucky for you, if you place your personal items in storage, you can boost your chances of a quick home sale. Plus, you may even be able to speed up the process of relocating to a new address, as many of your personal belongings will already be packed up and ready to go.

2. Remove Clutter

Let's face it – clutter is an eyesore that most homeowners can live without. However, many home sellers may have large book, CD or toy collections that can take up a lot of space.

Removing clutter is essential for home sellers who want to stage their residences properly. Fortunately, there are many simple ways to eliminate clutter with ease.

For example, you may want to host a yard sale before you add your house to the real estate market. A yard sale enables you to get rid of excess items as well as earn extra cash.

Or, if you are desperate to get rid of clutter quickly, you may be able to donate various items to local charities or dispose of these items altogether.

3. Clean and Deodorize Your Home

Pet odors and other unpleasant smells won't do you any favors, especially if you want your home to make a positive first impression on prospective homebuyers.

Cleaning and deodorizing your residence usually requires hard work and patience. On the other hand, you likely won't have to worry about breaking your budget to keep your property neat and tidy.

With a fresh, clean home, your residence may stand out from others in a crowded real estate market. The pleasant aromas that fill your house also can bolster your house's chances of making a positive first impression on potential homebuyers.

Staging your home may seem difficult at first, but expert real estate agents are able to help you prepare your residence for the housing market. Real estate agents can offer recommendations about how you can enhance your property quickly and effortlessly and ensure that you can stir up plenty of interest in your home as soon as it hits the real estate market.

Collaborate with a real estate agent, and ultimately, you should have no trouble staging and selling your house.

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Posted by Homes of Distinction Realty on 9/3/2017

Believe it or not, the process of buying a home can become long and complicated. And if you're not careful, you may encounter many hurdles that prevent you from acquiring your dream residence.

Lucky for you, we're here to teach you about the ins and outs of buying a house and help you simplify the process of going from homebuyer to homeowner.

Now, let's take a look at three common misconceptions associated with buying a home.

1. You will be able to acquire a house in a matter of days.

The process of locating your dream home is unlikely to happen overnight. Instead, a homebuyer usually will need to perform extensive housing market research to discover a residence that meets or exceeds his or her expectations.

Typically, a homebuyer will look at several houses before he or she can find the right residence. This homebuyer then will need to submit an offer on a house. And if a home seller accepts the homebuyer's proposal, a home inspection will need to be completed before a home purchase is finalized.

It is important to set realistic expectations for your home search. In most instances, it may take a few weeks or months to find your perfect residence. But with a diligent approach to your home search, you'll be able to discover a house that can serve you well for years to come.

2. You will be able to buy a home for less than a property's initial asking price.

Understanding the differences between a buyer's market and a seller's market is essential for a homebuyer.

In a buyer's market, many high-quality residences are available. This market usually favors homebuyers, and in many instances, enables property buyers to secure great houses at budget-friendly prices.

On the other hand, a seller's market features a shortage of first-rate properties. As a result, this market favors home sellers, and many homebuyers may compete with one another to secure the best houses.

Regardless of whether you're operating in a buyer's or seller's market, it is paramount to avoid the temptation to submit a "lowball" offer on a residence. By doing so, a homebuyer can minimize the risk of missing out on an opportunity to acquire his or her perfect residence.

3. You can find your dream home without help from a real estate agent.

When it comes to buying a house, the early bird catches the worm. Therefore, an informed, persistent homebuyer is more likely than others to locate a terrific home at an affordable price.

Ultimately, working with a real estate agent is ideal. With a real estate agent at your side, you can receive expert assistance throughout the homebuying journey.

A real estate agent will set up home showings, keep you up to date about new houses as they become available and much more. He or she also will respond to your homebuying questions and ensure you can acquire a stellar home in no time at all.

Take the guesswork out of buying a house – collaborate with a real estate agent, and you can make your homeownership dreams come true.

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Posted by Homes of Distinction Realty on 8/27/2017

The bathroom is one of those rooms that home buyers focus on upgrading once they generate enough savings to finally design the house they've always wanted. Fresh floral arrangements, modern flooring and natural light are just a few bathroom features that home buyers appreciate. It's not all about the size of your bathroom.

Pay attention to these bathroom features

If a small bathroom has winning features, home buyers could find the room attractive. This is not to say that people won't zone in on your bathroom's square footage during an open house. It's that you shouldn't assume that your bathroom will get you a home run just because your bathroom is large. Your bathroom could cost you a house sale for a variety of reasons, including:

  • Mold - There may be no bigger turn off than bathroom mold, especially when you consider that the bathroom is the place where you brush your teeth and place you bare skin against tile, marble, metal or vinyl surfaces. Call a contractor if mold is deep or covers a large space in your bathroom. A contractor could keep mold pores from spreading. An experienced contractor can also clean away all or nearly all of the mold in your bathroom.
  • Outdated floor tiles - Old bathroom floor tiles date your house. Before you put your house on the market, consider buying new tiles. Watch a few educational videos and you could lay the new tiles yourself.
  • Cluttered counters - Clear off bathroom counters. Wipe away excess water and dried soap stains.
  • Ugly faucets - Install attractive tub and sink faucets. Opt for white or silver faucet handles. Too much color could turn home buyers with conservative personalities off.
  • Worn bath towels - You may have grown accustomed to looking at the same bath towels that you've used and washed for two years.Those same worn bath towels could turn away potential home buyers.
  • Faded or wet bath rugs - Home buyers will more than likely purchase their own bath rugs. Yet, they'll attach your rugs to the room when they walk through your house. Don't let wet or faded bath rugs cost you a sale. Invest in a new set of bath rugs. You could also pull the rugs up and leave the floor bare.
  • Shower only bathrooms - You might only take showers. However, people who come to your open houses might prefer to relax in a warm bubble bath. Consider adding a tub, even a stand alone tub, to your bathroom.
  • Stained or cracked bathroom mirrors - Clean bathroom mirrors. If stains are permanently set into mirrors, replace mirrors.The same applies for cracked mirrors.

Although most bathrooms are away from home entrances and exits, that doesn't mean that you should pay less attention to your bathroom when preparing to sell your house. By ensuring that your bathroom features are modern, mold free, easy to use and aesthetically refined, you could keep your bathroom from costing you a sale.You could even turn your bathroom into a space that open house attendees rave about.

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Posted by Homes of Distinction Realty on 8/20/2017

Home is the place where you go to enjoy ultimate privacy. It’s generally not the place where you’d want perfect strangers sleeping on your bed, lounging on your sofa or cooking in your kitchen. Yet, that is exactly what some homeowners have been welcoming.

Important points to consider before you rent out your home

Renting out houses has become a way to generate income. It’s becoming somewhat of the Uber or Lyft of the overnight stay world. Renting out houses has also become more convenient. Digital technology has made it easier to find tenants.

Because of digital technology, people seeking a house to rent for a few days, a week or perhaps a month or longer, can find you with the click of a button. Due to the short length of the rentals, you could to rent out your house without having to buy a second home. Yet, that doesn’t mean that it will always be a piece of cake. Following are some important points to consider if you’re thinking about renting out your house.

  • Post security deposit information in your rental house listing. Also, indicate when the deposit is required and when the deposit will be refunded.
  • Add a picture of your home to your online rental house listing. As a safeguard, requests that tenants provide a photo ID.
  • Collecting rent is a must. You could collect the funds up front or at the end of the rental period.
  • Depending on how long you rent out your house,damages could occur at the property. You could be responsible to arrange and pay for these repairs.
  • Keeping the property up to housing codes keeps you legal as a landlord. It could also help you to attract more renters. For example, you’ll have to ensure that there is adequate heating, clean running water and cooling.
  • How about pets? Decide if you are going to let people who rent your property bring their pets inside your home. If you do,have a plan to clean when the tenants leave. Also, take into account that pets could damage one or more of your belongings.

Additional points to consider including what to do should you decide to stop house renting

Clearly state what you are responsible for and what the tenant is responsible for in the rental agreement. Also, outline in detail what the start and end dates of the rental are. Have a list of emergency and legal contacts on hand should a tenant get injured on your property or refuse to vacate at the end of the rental agreement.

Speak with other homeowners who have rented out their house. Get the inside scoop on what the arrangements are like. Don’t just listen to the success stories. Pay attention to the cautionary tales as well. Approach renting out your house from a business perspective, and be certain to conduct a background check on prospective tenants before you give them the keys to your front door.

If you decide to get out of the house rental business and sell houses that you rent, check with your accountant to see how much profit you can receive before you have to pay federal taxes on the sale of the house. You may have to pay residential and investment taxes on the sale.

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