Blog - NextHome Signature Real Estate

5 Benefits of Using A Real Estate Agent When Buying Or Selling A Home

February 21, 2020 by Shelly Ragan

, Blog, NextHome Signature Real Estate, NextHome Signature Real Estate It may come as a surprise for some people to learn that not everyone uses a real estate agent when buying or selling a home. Whenever someone is looking to move, it is critical to rely on the experience of a real estate agent. There are a few benefits that everyone should keep in mind.

Tips For Price Guidance

The price is one of the most challenging aspects of either buying or selling a home. A trained real estate agent spends his or her days looking at the prices of homes that are bought and sold in the local area.

Therefore, real estate agents can help someone sell a home both quickly and at the right price. If homes are left on the market for too long, prospective buyers might think that something is wrong with the house. This may make the home harder to sell.

Networking In The Real Estate Industry

Next, hiring professional real estate agent is important for accessing the professional network. Real estate agents typically have access to appraisers and inspectors who will be able to do a quick, easy, and cost-effective evaluation of the home. This will help the homeowner determine whether or not any repairs are necessary to get the house ready to sell.

Appropriate Financing Options

A real estate agent can also guide a prospective buyer through the financing options. There are lots of options when it comes to purchasing a home. A real estate agent can help someone review his or her options, helping a client find the right financing option for them.

Exposure For A Home Sale

One of the major benefits of working with a real estate agent is access to something called the Multiple Listing Service. This is a service where the vast majority of real estate agents list homes that are for sale. This will help any house being sold gain more exposure. The more exposure, the more potential offers, helping a house sell for a higher price.

Handling The Paperwork

One of the most often overlooked benefits of working with a real estate agent is help with the paperwork. The paperwork required to buy or sell a home can be significant. A real estate agent knows how to get through this paperwork quickly, efficiently, and accurately.

If you are in the market for a new home or interested in listing your current property, be sure to consult with your trusted real estate professional.

NAHB: Home Builder Confidence Near 1999 High

February 20, 2020 by Shelly Ragan

, Blog, NextHome Signature Real Estate, NextHome Signature Real Estate The National Association of Home Builders reported a housing market index reading of 74 in February; the index reading was one point lower than for January and was only two points below the highest reading of 76 reported in December. Readings over 50 indicate that most builders consider housing market conditions to be positive.

Factors contributing to builder confidence included strong housing markets and low mortgage rates; job growth and higher wages also boosted builder confidence.

Low Inventory Influences Home Prices

Low inventories of available homes continued to drive demand and rising home prices. Homebuyers faced with low supplies of existing homes turned to new home developments for additional options. First-time homebuyers faced obstacles including affordability and student loan debt that negatively impacted the ability to save for a down payment and qualify for home loans.

High costs of building materials and lots contributed to homebuilder expenses and higher home prices. Analysts noted that environmental and zoning issues also presented challenges for builders and limited their ability to meet the rising demand for affordable single-family homes.

Composite indices used to calculate the Homebuilders Housing Market Index slipped one point in each category. Builder confidence in current market conditions for newly-built single-family homes fell to an index reading of 80 and builder confidence in market conditions over the next six months dipped to 79. Buyer traffic volume in new housing developments dropped to 57, but buyer traffic readings of 50 or more were historically rare until recently.

Analysts identified correlations between the Housing Market Index and readings on consumer sentiment. The University of Michigan’s Consumer Sentiment Index and the Conference Board’s Consumer Confidence Index readings trend close to the NAHB Housing Market Index but are reported one month behind the Housing Market Index.

Regional Builder Confidence Mixed

Homebuilders reported mixed confidence in housing market conditions throughout the U.S. Market Conditions improved in the Northeast where homebuilder confidence was five points higher at 67. The Midwestern region reported a builder confidence reading of 62, which was five points lower than January’s reading. Homebuilder confidence in the South rose two points to an index reading of 79; homebuilder confidence fell four points in the West to 82.

Regional builder confidence levels reflect local economic conditions and events impacting housing markets.

5 Essential Questions Real Estate Investors Should Ask Before Making An Offer

February 19, 2020 by Shelly Ragan

, Blog, NextHome Signature Real Estate, NextHome Signature Real Estate Real estate investing is not only a great way to diversify assets but can also be used to generate both income and capital appreciation. While this is a fantastic opportunity, it is also important to choose investment projects carefully. It is critical to ask the right questions before making an offer on an investment property.

Why Is The Building On The Market?

There is a reason why the property is on the market. It is important to know the answer to this question. Sometimes, the house is on the market purely because the owner is moving for job or family purposes.

On the other hand, there might be an issue with the integrity of the structure. Be sure to figure out the true nature of the building before making an offer.

What Are The Other Offers?

It is important to know the competition when purchasing an investment property. Those who are trying to get the best deal possible need to know what they are up against. Asking about whether a cash offer will sweeten the deal is a great way to garner some additional insights.

What Is The Recent Maintenance?

One of the most common hidden costs in the world of real estate comes in the form of deferred maintenance. If nothing has been done on the property recently, these maintenance costs are going to be passed on to the buyer, hurting any potential ROI. Be sure to ask about any recent repairs or replacements. It’s not unusual for someone to spend a third of the building’s value on repairs.

What Is The Seller Interested In?

Be straightforward and ask what is important to the seller. Some sellers want a quick close. Other sellers want to rent the property back. There are even some sellers who want to leave the furniture behind as well. Ask what the seller needs to offload the investment property.

How Long Has It Been On The Market?

Always check and see how long the building as been on the market. If the building has been on the market for a while, figure out why it hasn’t sold. On the other hand, if the building just landed on the market, there might be more room to negotiate.

If you are in the market for a real estate investment property, your trusted real estate agent will be one of your very best assets. Be sure to make contact as soon as you are ready to start looking!