by Lilly Miller | Mar 12, 2020 | CRESTICO
Putting your home up for sale isn’t an easy task since it requires a certain degree of planning and preparation. And when your home comes with an additional feature, such as a fireplace, things can get even more complicated. However, many buyers love the idea of having a fireplace, so that can be your advantage. So, if you’re planning to sell your home with a fireplace soon, here are some tricks that will help you make that happen.
Don’t hide or neglect the fireplace
This happens quite often, mostly among homeowners who haven’t used their fireplace for some time. But, even though it seems like the easiest option, it can actually decrease the
value of your home. Why? Well, in order to make your home sellable, it needs to look like it’s easy to maintain and having an old and unkempt fireplace is a sure sign that your home’s been neglected. Nobody wants to buy a property and then spend time dealing with matters that should’ve been taken care of by previous owners. Therefore, rather than neglecting or hiding the fireplace, try to find a way to make it look good, as that will certainly help you sell your home for a much better price.
Make the fireplace your main selling feature
This one is the most suitable way to sell your home with a fireplace for the maximum profit, mainly because, by making the fireplace stand out, you’ll attract the right type of clients who’ll be ready to pay for the feature they find attractive and prestigious. So, be sure to clean your fireplace, and if possible, hire a professional cleaning team to do it properly. And since you’ll probably showcase your home on your realtor’s website, then it’s essential
to create high-quality photos that can show the beauty of having the fireplace indoors.
Your fireplace should evoke certain emotions
As mentioned before, making the fireplace your main selling point can be done, but as long as you do it the right way. According to some studies, a fireplace can increase your home’s value, but only among people who are willing to pay. Therefore, it wouldn’t be bad to significantly upgrade or even replace your existing fireplace, especially if it’s already showing signs of wear. So, if you’re looking to change your fireplace for the new one, it’s essential to opt for something current and simple. Nowadays, you can
find gas double side fireplaces that are easy to install and can keep the room warm during the chilly winter months. Besides, many families prefer spending a cozy Christmas day sitting by the fire, eating and enjoying some peace and quiet, so that could be a great way to make the potential customers feel more sentimental, and subsequently, opt for buying a home with a fireplace.
Be honest with potential buyers
In case you are unable or unwilling to get rid of the fireplace, and replacing it is also out of question, then you should definitely be honest with potential buyers, mainly if the fireplace is currently broken or tends to break quite often. They deserve to know the truth, so make sure
to answer all of their questions in a patient and caring manner. If there’s something wrong with the fireplace, it’s essential to let them know, so they’ll be able to decide whether they want to fix it or replace it with a new one. Also, if you’re worried that your malfunctioning fireplace might lower the value of your home, it’s crucial to talk to your
Real Estate agent and find the right solution before you decide to put your home on the market.
Selling your home with an extra feature is a great way to get some extra profit, but in order to do it, you should make sure that your home is in top condition. Aside from that, being straightforward when talking to buyers can help you sell your home much faster, so keep that in mind when you show your home to prospective buyers.
by Lilly Miller | Feb 27, 2020 | CRESTICO
Most people selling a property as-is often do so due to emotional or financial distress. When a homeowner finds they can no longer live in the property following the death of a loved one, cannot afford the repairs needed, are in a rush to beat a looming foreclosure or urgently need the cash to meet a large unexpected expense, selling quickly is the most convenient way out.
But selling a home as-is will not automatically lead to a quick transaction conclusion. Selling fast as-is entails taking deliberate steps to get rid of any potential impediments to the process. Here’s a look at some practical tips that can help you do just that.
Full Disclosure
Selling your house as-is means the buyer will take up the property, flaws and all. As the seller, you will not carry out any pre-sale improvements, repairs and renovations. Whether the buyer is an individual or a company like househeroes.com, they will get the house with its problems intact.
An as-is sale has a legal definition in nearly all states. It’s not as simple as a seller handing over the house keys and walking away with a big check. The purchase agreement must explicitly describe the condition of the house in question. The law protects the buyer from waiting to discover the issues after the transaction is concluded.
Ergo, the seller must make all disclosures upfront whereas the buyer is permitted to back out if an inspection finds the state of the property is actually worse than originally stated. To make sure you have all bases covered, obtain a pre-listing inspection. The better armed with the information you are, the less likely of a nasty surprise later on.
Set a Low Listing Price
When people shopping for a property see as-is on a listing, they’ll immediately assume there’s a major problem with the house, the seller is desperate, that they can close the deal with a ridiculously low offer or all of the above. Often, they are correct.
Thanks to these negative preconceptions, you should set your list price lower than the property’s market value if you want to attract interest quickly. To give you an idea, foreclosed houses in St Louis sell for about 37 percent less than similar owner-sold properties. Since someone selling as-is is keen on closing the transaction quickly, it’s not unreasonable to think as-is buyers will expect a similar discount.
You have to be ok with losing out on the thousands of dollars you would otherwise have received if you made some major repairs before selling. A low price doesn’t guarantee the home will go quickly but it certainly increases the chances of that happening.
Make Small Renovations
You are determined to sell the property without performing any major renovation or repair. That doesn’t however mean you shouldn’t do any improvements at all. While you certainly want to dispose of the property quickly, you should target the best possible price you can get for it. A dilapidated house that’s falling apart will attract ridiculously low offers.
If you are not going to do anything else, make sure you carry out some basic work that will increase the property’s curb appeal. It could cost as little as a hundred dollars but can have a substantial impact. Thoroughly clean the house, mow the grass, water the lawn, plant flowers or apply a new coat of paint to the exterior walls. This will draw more interest to the house and pay off via a better sale price.
A home is the average American’s single largest investment. Naturally, you’d want to obtain the maximum possible return when you put it up for sale. Unfortunately, the condition of the house, the state of your finances and safeguarding your emotional wellbeing won’t always make this possible. Selling as-is is sometimes the most viable path to cutting your losses, making a recovery and starting afresh. Follow this tips to conclude your as-is sale fast.
by Lilly Miller | Feb 21, 2020 | CRESTICO
Is Subleasing Worth It?
As a landlord, there is much to manage, and much to think about. Property must be maintained, taxes must be handled, tenants must be evicted, and tenants must be acquired. Many landlords are strategic: they’ll allow one of their tenants to live in the property rent-free provided they help manage the premises. This isn’t feasible if you’re a landlord of a smaller property; it’s something more common to larger rental arrangements. However, the value such a tenant can bring is actually quite considerable. Rent in many parts of the country is around $800 a month—barring places like Los Angeles, where a shack in a basement is well over a thousand dollars for a single renter.
In a thirty-one day month, you’re looking at $25.81 a day. For $25.81 a day, someone who pays their rent by working for you can get a lot done. If they just spent two hours a day changing light bulbs, weeding, taking out trash, or cleaning minor messes, you’re saving money as a landlord. $12.91 an hour isn’t a rate most maintenance people will take; especially if you’re only paying them $800 a month. However, someone who lives for free on the premises provided they do two hours of chores five days a week will be more than happy to do so. You might even get more work out of them, depending. It’s a win-win for everyone. Similarly, as regards subleasing, you can find a win-win—but there are pros and cons. This writing will explore them.
Pros Of Subleasing
If you approach subleasing right, you can be more sure you’ll get rent on time from tenants. Consider the scenario where rent is around $800 a month. At this website, https://www.umovefree.com/City/frisco-apartments-tx/, you can find rental units that start at only $796 a month. Now imagine that’s divided two or three times between people in one unit.
You’re looking at between $265.33 and $398 a month for a $796 single, depending on if the unit is sublet two or three times. That’s pretty darn affordable. At the $265 rate, it’s just a little under $9 a day. At the $398 rate, it’s a little under $13 a day per person. That’s cheaper than lunch. It’s quite affordable. You’ve just got to approve those in a sublet scenario.
Something else that can be done is a slight rent hike. Say your unit was generally $800 a month for a single tenant. Pop that up to $1,000 if there are two living there, and you make an extra $2,400 a year, while the tenant subletting the property gets an even better deal.
Cons Of Subleasing
If you don’t vet those your tenants are dividing up their unit with, there could be some real trouble. Sometimes a tenant starts subletting their unit because they themselves are low on resources. Now you’ve got two people who are broke on your premises, compounding wear and tear while making late payments.
There can also be some legal considerations. What if the person seeking a sublet opportunity is a fugitive from another state? You’ve got to have an apparatus in place which will allow you to vet whoever is on your premises. If you don’t, and that individual is found out, there could be a legal case to be made that you aided and abetted a fugitive.
Certainly this wasn’t your intention or expectation, but the right lawyer can do a number on an honest man. When you’ve got disorganized subletting solutions, you increase such risks substantially—by a factor of two, if you allow subletting across your premises.
Even good tenants who open up their units to those who can be trusted will still increase normal wear-and-tear. Also, sometimes pets show up when you’re not intending them to in such situations. That’s also quite bad for your building’s longevity.
Making The Right Choice
To sublet, or not to sublet? It’s quite a question! The truth is this: provided you put an apparatus in place which vets those who are paying your tenant rent, you should be okay. Just assure you’re not letting any fugitives in, and that those renting from one of your renters aren’t destroying the premises.
If you play your cards right, such options can allow you to make more money from a single unit, and assure that payment maintains regularity over the long-run. If you don’t, you’ll see more wear and tear, as well as the possibility of legal issues. At the end of the day, whether or not these things are a deal-breaker is your call.
by Lilly Miller | Jan 16, 2020 | CRESTICO
Real Estate seems to be one of those investment classes that is always viable to investors, simply due to the versatility of the asset and the numerous ways you can build a positive ROI. Whether you are selling or leasing, or if you’re buying during an economic shift for an affordable price with the intention to wait until the property prices rise again, there are numerous ways you can capitalize on your real estate investment. For example, in 2019 in the US alone, median home prices went all the way up to $316,000, making it one of the best years for real estate agents and experienced investors.
Now that 2020 is well under way, it’s time to prepare for the new emerging trends and adjust your strategy for the new year, whether you are a buyer or a seller. Let’s take a look at some of the top trends you need to get ready for and act on sooner rather than later.
Home prices continue to rise
The growth trend for home prices in the US that has been persevering through 2018 and 2019 seems to the waning, and experts even predict that, while it will continue to rise, the average home price in 2020 will grow by only 2.8%. This means that investors and homebuyers, in general, will be able to take their time selecting the best properties for their needs, without fear of losing out on a good deal and having to overinvest. If you are a seller, you can expect fewer homebuyers to come your way simply because the elevated prices are squeezing them out of the market, however, that also means that affluent buyers will stay in the game.
On the other side, if you are a buyer, you will have to tend to some meticulous financial planning, forecasting, and property research. It’s important that you figure out the monthly mortgage payment according to your budget, and then make sure you stay within that amount. Search for properties that are low on the price list that you can fix up over time and as you build up your financial capabilities.
Accommodating seniors and Gen Z-ers
While the majority of homebuyers are still millennials, it’s important to note that other demographics are jumping into the fray and that real estate professionals need to optimize their offers and portfolios for other types of customers. Namely, 2020 will see a rise in senior buyers as well as Gen Z buyers. With millions of people entering their silver years and millions of young people entering their home-buying years, it’s important to adapt and stage every home according to the unique needs of these generations.
This is the only way to appeal to the modern buyer irrespective of age, as both generations will have very different lifestyle preferences and requirements. When you’re showing a home, you have to appeal to their current and future needs, which means thinking strategically about what seniors need vs what young people might be looking for. Remember to emphasize indoor safety for the senior buyers, and high-tech features for the tech-savvy Gen Z-ers.
The rise of display homes
Now that buyers are taking a more careful and calculated approach to property acquisition, it’s important to note that their decision-making process is evolving as a result. Whether they are looking to buy into a property development project that in its early stages, or if they are looking into plots of land to build their own homes, people are becoming very particular about the architects and builders they work with. In countries where property prices are sky-high, such as Australia, this has already become a major trend.
This is also why the popularity of luxury display homes in Sydney has skyrocketed in recent years, and why it will continue to rise in 2020, as Australian buyers want and need to examine the builder’s capabilities in real life rather than looking at online portfolios, pictures, and case studies. Display homes will become more popular in all high-priced regions of the world, so be sure to prepare for this trend whether you are an investor, an architect, or a buyer.
The neighborhood is not a deciding factor
Surprisingly, the neighborhood where the property resides doesn’t seem to be a deciding factor anymore. Yes, buyers will still research the neighborhood thoroughly, but they will be more inclined to give less-than-ideal neighborhoods a pass if the property is more affordable, or if there are other valuable features that the home can provide. For sellers, this is an opportunity to sell a home in a less popular neighborhood, and for buyers who are working with a limited budget, this is an opportunity to find a new home without breaking the bank.
Technology will fuel market research
Finally, all investors and real estate experts need to invest in technology in order to capitalize on industry trends and market insights this year, and in the years to come. With more and more valuable data flowing around the digital realm, it becomes impossible to conduct predictive analytics manually anymore, which is why you need to integrate AI-driven data analysis into your operation to organize all of that data into actionable reports and create accurate forecasts that will drive your business strategy forward.
Wrapping up
In 2020, many trends that have been persisting in the past will stay relevant, but some will bring significant change to the industry that all parties should be aware of. With these insights in mind, go ahead and optimize your processes for the new year and pave the road to success.
by Lilly Miller | Dec 26, 2019 | CRESTICO
As the year 2019 is closing to an end, some people are reminiscing what they have done this year, while others are turning towards the future. If your plan for 2020 is to sell your house and move to another neighborhood or city, you are probably currently deep in thought about how to make get the maximum from your house in terms of the price.
The answer to that question lies in staging, that is, preparing the house in a certain matter to be more pleasing to the potential buyers. The trick is, naturally, not to renovate but to make smaller but effective changes so that their expense is more than covered by the price that you set. So, here are the hottest trends that will attract buyers but without draining your budget.
Two-shade curb appeal
The potential buyers’ first glimpse will be to the exterior of your home, so you would need to work a bit on the curb appeal. One thing that doesn’t change with years is that first impressions matter and an unattractive exterior can lower the general opinion buyers form about the property.
What would fit into the 2020 trends is a two-shade exterior: choose a color that you like, that is, two of its shades (we recommend one to be night watch green) and that would take the estheticism to the next level. As for the walkway pavers, emphasize the color with a stone sealer and when the spring comes, plant flowers of vibrant colors to attract the buyers in swarms.
Add a breath of luxury
An ostentatious interior is not only unappealing to most buyers but it also makes them start pondering over the money they will need to keep it in that state. However, luxurious elements don’t have to be pretentious or expensive because they don’t necessarily include a grand piano in the living room or a spa in the bathroom.
A few subtle elements are enough and placing them at places that are not that obvious would give the house an additional charm. For instance, you can choose affordable plaster ceiling panels for your living room ceiling and be sure that the exquisite ornaments would be the selling feature of the house. They come in different patterns so it will not be difficult to find the one that will fit perfectly into your living room.
Illuminate the space
Most people dislike dark houses and dull brown walls will be enough for them to run away any year, not just in 2020. So, what you want to do is to open the curtains and the windows (if the weather allows you) to let the light into the house. Everything would get an elegant golden hue, while the floral ornaments on the ceiling would seem as if they are in full bloom.
If the buyers can only come after the sunset, don’t worry, the light is still your best friend so you can purchase a few modern lamps that stand on the floor and place others on the table and that would give the house a romantic tone, perfect for couples looking for a place to settle.
Accessorize with unique items
What your house needs to have in 2020 is some statement items: those unique pieces of furniture or decorative elements that dominate the room. It can be an old rocking chair you got on the flea market and repainted or a vintage coffee table that belonged to your grandparents. Old items have the charm your house needs, and the best thing is that you can transform them into something new. Getting that one item doesn’t have to be expensive and it can boost the attractiveness of your house severely.
With 2020 waving at us just around the corner, it is already time to start considering the tactics for staging your house if you wish to sell it swiftly. Luckily, these trends are neither high-priced nor will they take too much time to be put into effect, so with some good marketing, you will sell your house in no time.
