Everyday brings something new to the world of Real Estate and even though Real Estate is not considered to be liquid or quickly sold like stocks, getting up to date information can make the difference between making a profitable or unprofitable sale or purchase.
Your time is precious and that’s why BronxPad will search and provide the latest in Mortgage and Real Estate tips to keep you informed. An informed Bronx Home Buyer or Bronx Home Seller will undoubtedly make better Real Estate choices.
Most people use the services of a Stock Broker when Investing or a CPA when filing their taxes. A realtor serves the same function. To provide you with a professional service and guidence in all matters pertaining to the Real Estate Industry.
Expired Real Estate
So you previously had your property on the market. 6 months or more has passed and it still hasn’t sold. You are trying to figure out why hasn’t your home sold if others in your neighborhood or community was able to be sold in the same time frame. Yes, it’s frustrating but there must be a reason. We have a page dedicated to explaining why some properties sell and some don’t. Click the link to reach our page dedicated to this subject. Expired Real Estate .
The FHA insures over 1 Trillion dollars worth of Mortgages on more than 7 million loans provided by approved lenders. FHA insures mortgages on Single Family, Multifamily homes, Manufactured homes and hospitals.
Unlike a conventional loan which would most likely require a 20% down payment and higher credit scores an FHA insured loan requires just 3.5 percent down payment and is more lenient when it comes to credit scores. This is a great benefit for homebuyers who would normally not want to make such a large down payment. One thing to note is when a down payment of less than 20% is made a PMI or Private Mortgage Insurance payment needs to be made along with the mortgage. This is why it’s important to speak with a mortgage specialist who can guide you on your home purchase.
Time to Buy a Home
Over time home values rise by an average of four percent per year. Yes I know what you’re thinking, home values have gone down in most areas over the past couple of years but this happens every so often.
The great thing about Real Estate is that it tends to be a long-term investment and short-term reductions shouldn’t be feared. They should actually be seen as an opportunity to buy more Real Estate at a discounted price. Think about this for a moment. When we get a 10% off coupon from our favorite store what do we do? We go shopping. Now if home prices have gone down this makes it a time to buy hence what’s called a Buyers Market.
Tips to maximize Selling Price
Hire an Inspector to view your home and make recommendations on repairs. This will help to make sure you are not caught by surprise when the Buyers inspector points something out.
Have your Bronx Real Estate Agent give you a detailed report on current market trends and advice on how to market your home. Real Estate Agents are in the business of selling homes and are trained on how to do so. Their advice is valuable.
Have your home Staged. Now I don’t mean spend a fortune but you should consider having a stager come in to access what should stay and what should go. This will ensure that the home shows well. Buyers have options and you want to make a good firstimpression.
Hire a handy man to take care of all the small repairs that need to be made and to give the home a fresh coat of paint. Again, you want the home to look fresh and clean this way home buyers will see your home as their next home.
These are just a few tips. For a more detailed report let us prepare a Free Market Conditions Report and give you our strategy on how to maximize the sale of your Bronx Home.
Looking to Buy a Bronx Coop?
Check out our tips and guide on how to prepare for the Coop Interview. Click Here
Are you a Veteran and looking to buy a home? Click Here
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