Posts Tagged ‘home buying’

As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a “spring market rush” every year. There is no doubt that the “spring market” is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.

Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:

Less Competition

One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition.  The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.

Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.

Serious Buyers Are Out There

Homes are sold and bought 365 days a year, period!  Many homeowners believe that buyers aren’t out there during the fall and winter months. This simply is not the case. Serious buyers are always out there!  Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.

The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like.  Do your neighbors have pumpkins on their front step?  Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween?  Do any of your neighbors have any light displays for the holidays?  There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.

The Best Agents Are Always Up To The Challenge

Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that.  A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons. If a real estate agent doesn’t have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.

Staging For The Holiday Season

Many sellers believe staging a home is the main reason a home sells.  While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be “sold” on a home because it is staged.  Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.

Quicker Transactions

Right now, there are fewer real estate transactions than there will be in the spring.  The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do.  All of these factors should lead to a quicker transaction and closing for all the parties involved.  One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.

Hiscock, Kyle. “Should I Sell My Home Now or Wait Until the Spring?”. RISMedia’shousecall.com, 6 Nov. 2014, www.blog.rismedia.com/2014/sell-home-now-wait-spring/.

Whenever you decide to buy or sell a home Sold Buy the Sea Realty is available any time to assist you in the process!

Filed under: Blog by Callie Smith
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Wire Fraud is becoming a more frequent issue for today’s homebuyers. Buyers are tricked into wiring their down payment or remainder of closing expenses to fraudulent accounts set up by criminals that have spoofed emails in order to make them look professional and make the recipient believe they are legit. These losses are often not covered by the bank since most wires go overseas and are impossible to recover! There have been victims who have lost six-figure sums and had to terminate the transaction on their dream home due to this type of fraud. This nightmare scenario has earned the name “business email compromise scam” and rightfully so.  This type of scam targets businesses that deal with individuals, such as those involved in a pending real estate transaction. The criminals behind these scams are able to trick homebuyers in a variety of ways, most of which do not require advanced technology or technological knowledge to perform. The criminals infiltrate real estate agents or attorneys emails with malware and then are able to monitor emails between client and professional regarding upcoming closing costs.

Once the scammer is able to send legitimate looking emails on behalf of the real estate professional, they request a sudden change on payment plans. These changes in payments plans often include the buyer wiring money to off-shore accounts, likely to never be recovered.   Email compromising scams in real estate are on the rise, according to cyber security professionals that reported a drastic 14 times increase since the past year alone. With this in mind, it is increasingly important home buyers are aware of the steps they can take to prevent this from happening to them. First, being vigilant and aware of these types of scams is important, as well as verifying any suspicious activity associated with a home purchase.

Second, the importance of voice verification is stressed. This means clients and real estate professionals provide voice verification to back up any requests involving e-signing and divulging financial information of any kind. Another important step in prevention is involving your bank. Most banks will honor you request to not allow wire transfers without a voice verification from the account owner. It is important when dealing with wire transfers that there is a note put in place that allows for steps to be taken before wire transfers can be completed. Lastly, be on the lookout for emails requesting that you take immediate action. Approach these emails with caution and suspicion by confirming requested action with a known phone number.  Home buying should be a rewarding process for all parties involved. By staying educated and alert we can ensure that everyone has a positive home buying experience!

Filed under: Blog, Home buying, Wire Fraud by Callie Smith
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