Adding Furniture before Selling a House

Posted on February 3, 2012 by Mac| Leave a comment

Statistics show that an empty house takes longer to sell than one that contains furniture. Prospective purchasers find it harder to judge the size of an empty space. While a vacant room usually looks large initially, that might not be the case once it is filled with tables, chairs, sofas, televisions and shelving units. A furnished room defines the space and gives buyers ideas about how and where they could position their own items of furniture.

If a homeowner must move out of the house before it is sold, it is usually best to leave a few choice pieces behind. If that is not possible, furniture could be rented or bought. The rental choice might not be great, however.

Nevertheless, it is not necessary to spend a great deal of money to furnish a house for selling purposes only. Simply choose neutral colors, and ensure that the sizes of the items are appropriate for the scale of the house.

You don’t have to spend a lot of money of the furniture for example, if you are showcasing a home in the New York area, search “used furniture New York City” and you will be surprised what nice items you can pick up at such low prices.

The following is a guide for minimal furnishings that can make a big impact when arranged strategically:

Living Room

• A sofa.
• An armchair.
• Two side tables – with lamps.
• Coffee table – with a decorative object.
• One or two paintings/prints on walls.

Bedroom

• A bed.
• Two nightstands – with lamps.
• An easy chair or bench.
• A painting or print on a wall.

Dining Room

• A dining set.
• A sideboard with greenery.

The goal is a room that is furnished, yet it appears spacious and airy. Floor space sells.

When selling a house that is already furnished, it is not a good idea to add more furniture just to fill every corner. Indeed, many times it is actually necessary to reduce the number of furniture items so as to open up the space in a room/house. A cluttered, jam-packed house is not appealing to potential purchasers. House viewers should find it easy to walk about the house: There should be an easy flow from room to room. It is better to keep the pieces to a minimum, but present them in the best light: Dusted, vacuumed and polished. A striking plant or floral display completes the look beautifully.

Updating soft furnishings will make a difference, however: A fresh rug, plump cushions arranged on the sofa, tasteful bed linen on beds and matching towels attractively-arranged in bathrooms will make viewers warm to the house. They will be more inclined to purchase it.

 

Posted in Selling

Books That Can Help You in Real Estate

Posted on January 15, 2012 by Mac| Leave a comment

Real Estate has always been an important yet unpredictable asset that somehow manages to baffle even the most knowledgeable experts. Still, there are many who believe that there is nothing mysterious in a real estate business, and an understanding of the few critical aspects can yield great profits. You have some options to better your business including attending Tom Ferry, or Mike Ferry seminars or by picking up one of these books.  These pundits base their assumption on the theory that people have made profit regardless of the existing economical conditions. Here is a brief overview of the top sellers this year.

Investing in Real Estate – Gary W. Eldred

For nearly two decades, the book has been providing practical knowledge of owning a real estate to an average person. The updated fifth edition offers more insights into how an average person can finance a home without worrying about bad credit history and high interest payments. Unlike other guides, the author does not promise guaranteed loans or quick profits. Yet, this book is written in a very practical manner indicating the opportunities and risks involved in a real estate. The best part is the million-dollar advice on how to add tens of thousands of dollars to the value of the existing property.

The Millionaire Real Estate Agent: It’s not about the Money…It’s about being the best you can be! – Gary Keller & Dave Jenks

This book is a must read for all real estate agents. Agents like it because it does not tell them to call hundreds of leads every day to generate profits. Instead, it guides them to potentially lucrative investment opportunities without phone marketing. This means that if you don’t want to call hundreds of people or if you don’t like visiting everyone in your neighborhood, then there are other ways that can be equally profitable and less annoying.

The Real Book of Real Estate. Real Experts, Real Stories. Real Life – Robert T. Kiyosaki

Twenty real estate advisers have teamed up by offering their knowledge and wisdom in this book to guide real estate buyers to successful investment. This book is ideal for both the first time owner and seasoned businessmen who want to get their hands on time-tested practical tips that are helpful in any condition. It describes in detail on how to handle leases, manage tenants, and even hire your own team of experts. Every page is full of engrossing tips by the best selling author of Rich Dad, Poor Dad.

Most real estate literature is written to substantiate the fact that even a novice can profit from the real estate sector. It is one reason that real estate books are always in high demand. These books have become the best-sellers because they provide tips that are not only easy to follow but are practical. Get your hand on one of these before you spend anymore on research…

 

Posted in Real Estate Advice

The Benefits of Owning a Home

Posted on December 12, 2011 by Mac| Leave a comment

The benefits of owning a home are many. while many people that live in the US today are going through a housing crisis and the foreclosure rate in America is skyrocketing, owning a home today is more important than ever. One of the biggest factors of importance in owning a home is pride, you will simply be proud to gave something to call your own. When you make your monthly mortgage payments, you will be pleased to know that the payments are going to the equity of your house rather than into a landlords pockets.

Another advantage to owning a house is the fact that you are able to build up a substantial retirement savings. as you pay off on the house, your equity increases, which in turn adds to your retirement portfolio. Also, when you have paid the house off you will be able to retire in it rent free. In general, history shows us that houses and property values generally increase yearly. This means that while you paid a certain price for the house, as it increases in value you will be able to sell it at a higher price than what you paid for it.

In simple terms of stability, owning a house is the most sensible choice of all. Rental rates can vary sporadically while mortgage rates are as subject to these wild vacillations in price change. When an individual owns a house and their mortgage balance is smaller than the selling price of your home, they are able to deduct taxes from the interest payments on that house. This is a definite advantage of buying versus renting that renters do no have. Whenever you pay property taxes on your house you will also be able to make a tax deduction for that.

One of the biggest advantages of owning a home is that you get to sell the house and make tax free profits. What this means is that whenever you get ready to sell your house – lets say it’s worth $100,000 – you don’t have to report that sale as income that is taxable, up to the federal limit. The current federal limit for capital gains allow you to exclude up to 250,000 dollars if you are single, and up to 500,000 dollars if you are filing jointly. These are but a few of the benefits that are involved in owning a home.

Posted in Owning a Home

When Should You Buy a Home?

Posted on November 1, 2011 by Mac| Leave a comment

America’s economy is on the downturn, and that is plain to see. It can leave many people shaken and wondering when, if ever, is the best time to buy a home. Well the fact of the matter is that no time is better than the present. In general, the real estate market has historically risen more or less every year and has traditionally been considered a prime investment. Nowadays, this economy has peoples head spinning and consumer confidence is down, as well as confidence in just about every other type of market there is.

This is the prime time to take advantage of these types of trends. This is what real estate agents call a buyer’s market. They call it this because prices have gone down way low, in fact, prices have gone down so low that the real estate market has not seen these types of prices since the 80′s. Now, with prices this low, you can’t lose, because you buy a house dirt cheap, and as the real estate market gains it’s strength back then you make a ton of profit. Another major factor that is involved in the reals estate game is interest rates.

Generally the best time to buy a house is when interest rates are at their lowest points. Low interest rates translate into lower house payments, lower final cost, etc. When you graph interest rates and home prices on a graph and you see the two lines cross, this is the prime time to take advantage and buy a home. You can use some simple economic indicators as well. One should check to see how many building permits are being taken out, and how many are taken out from month to month on an average. If you notice that the amounts of building permits is beginning to decrease, then take this as as sign that real estate prices are also about to drop. The reason why is because as building permits decrease companies are not building as much, meaning people are losing their jobs, which is bad for the market.

Also keep a track of pending sales and active listings, when you catch that time when pending sales are up, and active listings are down, this could mean that other real estate investors are taking notice of a trend and the market may soon shift for the better.

Posted in Buying

How to Save Money: Renting vs Buying

Posted on October 2, 2011 by Mac| Leave a comment

In the economy of 2012 and for the next five years, most people can save money by renting. However, it depends on your particular situation. Predicting traditional factors used to compare renting or buying is still the best way to decide if renting or buying saves you the most money. Look at the following factors and apply your situation and feelings about the future in order to make the best decision for yourself and your family.

Employment stability is a big factor. If you are working for a family business that is doing well you might be able to predict how often you would move in the next five years. If you are unable to predict how stable your employment is, you should not consider buying a home. Save as much money as you can in conservative ways, even if the pay low interest. Your biggest gain on those savings will come later when the buying versus renting factors are in your favor.

If you plan to live in your current city for less than five years, or you are unable to predict how long you will live where you live now, renting is the best choice for you. Moving too often is a net loss situation for both renters and buyers. Moving costs money, settling into a new home or apartment has expenses. As with the employment factor, you should save as much money towards a future down payment as possible.

Compare the maximum amount you are willing to pay for rent to total monthly costs of a home as the best indicator of sufficient income to purchase a home. If monthly home ownership costs are more than the maximum you would ever pay for rentals stay with renting for the time being.

Discretionary income level is an important parameter. Do you save money now? How much money could you save if you were making monthly payments on a home? You should be able to save at least 50% of your current savings level once in a home. If that is not possible, renting and saving for a down payment is the best for your situation.

Do the math to compare your current monthly expenses to post purchase expenses, then factor in all the things mentioned in this article. Be honest with yourself and make a decision that will be best for your family. For most families, these days, renting is best.

Posted in Buying, Renting, Saving Money

How to Buy a House at a Good Price

Posted on September 19, 2011 by Mac| Leave a comment

When searching for a new house, one often encounters several impediments that can be seemingly insurmountable for the inexperienced home buyer. Fortunately, with the many innovations that technology has provided, purchasing a house has never before been easier and safer. Make sure you check out the tax guide for buying a new house. Purchasing a new home at a low price can be accomplished with little difficulty when a bit of effort is exerted.

When commencing the search for a new home, one often utilizes classifieds, magazines and newspapers. However, the Internet is among the most extensive and best resources one could possibly use when searching for a low-priced home. Because society is gradually entering into a completely digital and electronic age, paper mediums are slowly giving way to their electronic counterparts, namely the Internet and online home listings and classifieds. For the inexperienced or technologically inept, this may seem primarily a somewhat daunting task.

Online classifieds are, however, even easier to browse through than are paper mediums. This is because one can easily apply filters and search for homes anywhere within the world, greatly narrowing one’s options and choices, eventually leading to that one fruitful call or home visit. A potential home buyer also can browse through immense collections of customer reviews. Customer reviews are an integral aspect of the online home buying process, as they allow one to read firsthand experiences regarding homes and real estate agents or companies. The Internet also is a great place to find foreclosed homes.

Foreclosed homes are sometimes in horrible condition, but often times one can find a foreclosed house in excellent or repairable status. When purchasing foreclosed, one can often expand their expectations, as these types of houses are offered an a significantly lower price. Rather than settling for a simple two-bedroom home, one often can find a house twice the size for the same price! However, one should always ensure that the house is seen in person before purchase, as many foreclosed homes prove to be in atrocious condition because of the previous owners.

Finding an inexpensive new home never has been easier because of the Internet and the many features it offers to potential house buyers. Buying foreclosed can be an infinitely good decision, but some people simply prefer to purchase new. Keep in mind that your taxes might go up for that year. You will want to consider an IRS tax extension that year No matter the choice, excellent deals can be found online, and many resources are available to home buyers. First-time home purchasers will even see extended incentives from the United States government!

Posted in Buying, Saving Money

Renting a Home on Vacation vs. Hotels

Posted on August 21, 2011 by Mac| Leave a comment

When it comes to vacationing, there are all sorts of different things we can consider. Whether we’d like to enjoy a quiet, beach vacation or go see the world’s largest shopping mall, there are so many fun things that make up a vacation and make them all different.

Now, no matter where you stay, it’s pretty safe to say that we have the option to choose between staying at a vacation home and a hotel. Now, what are the pros and cons of each?

Vacation Home

Pros: If you’re thinking about staying at a vacation home, you can benefit greatly in the sense that it will feel just like you’re at home. There won’t be any maid service coming in and out each day, you don’t have to worry about noisy neighbors on the other side of the wall, and you may even benefit from having a large space that includes things like a refrigerator, microwave and washing machine.

Cons: Now when it comes to the cons of a vacation home, these homes usually cost more than a hotel, don’t have as great of views and can leave you responsible for a lot.

Hotel

Pros: If you’d like to stay at a hotel, you can benefit from the fact that you can find hotels all over the globe and find a lot of them for great prices. You can also have maid service taking care of all your cleaning and fresh towels and not to mention, some hotels provide you with a gym, pool and even free breakfast each morning. Hotels often leave us feeling even more excited about our vacation, while some vacation homes make us feel like we’re still at home living the same lifestyle as we normally do.

Cons: When it comes to the cons, you may find that the hotel can be noisy, that you have to pay for parking and that your room may not be large enough for your comfort. You may also notice that some hotel rooms don’t include kitchen appliances or a washer and dryer.

As you can see, there are pros and cons for both vacation homes and hotels. All that matter is that you find something within your price range, in a good location and that you enjoy your stay there. So take into consideration what matters to you most and try to compromise with the other people that are taking the vacation with you.

 

Posted in Renting