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Home Selling Psychology: You’ve Been Sending These Messages To Buyers

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When it comes to a home selling process in real estate, selling psychology is always a part of it. When you sell your house there’s always an underlining message you put out for your buyers. You may not be aware of it but you’ve been sending these messages to buyers secretly. In these cases, you might want to send the right message to potential buyers. It is essential to understand the demography of buyers and your locality. For eg: If there are grad students residing in your neighborhood or there might be a retired couple. When home selling psychology comes into play, you have to picture who your ideal buyer is and think accordingly from a buyer’s perspective.

 

Clutter Can Be A Strong ‘NO’ For Buyers 

For a buyer, it is important to feel homely while picturing themselves in the house they’re visiting. When you have your personal belongings lying in the house while walkthrough, sellers may feel a bit intrusive. No buyer should feel as they are invading your personal space rather should feel homely and imagine themselves residing there.

 

What’s The Solution?  

Cleaning up personal items such as trophies, family portraits, collages, etc. can help avoid such awkward situations.

              

Take Time In Preparing Your Home     

Buyers will never make significant changes in the house unless they’re a real estate investor. If a buyer has infants or toddlers in a family they’d not buy a house with a pool or lavish landscapes. Besides, even staging your house excessively will have certain drawbacks. In order to keep your home tidy, you don’t necessarily need to stage it. A well-planned staging with minimal neutral upgrades can sell your house fast for cash. Eventually, it is vital to understand the buyer’s demography and make upgrades accordingly.

 

What’s The Solution?

As it might be difficult for you to understand initially who your buyers are? You can always switch to keeping the tone of your house neutral. Having a neutral room can allow buyers to put ideas into perspective. However, you can do basic upgrades like plumbing and fixing the roofs, etc., and avoid extra decor to make your house look beautiful.

 

It Is Important To Have A Purpose

Defining the purpose of each room can sell your house fast. Most people have a room for multiple purposes. For eg: A storeroom, which is also your gym or office space that has a play area. If this is the condition of your rooms as well then you might want to start defining the purpose of each room. Setting a room that is multifunctional can be practical for your family. Although, as a potential buyer it can still be a little confusing for them to understand the purpose of the room/s.

        

What’s The Solution?

If you have a total of 3 rooms excluding the kitchen and living area make sure the other three rooms are plain and neutral. Avoid creating chaos by having a multipurpose or multifunctional room while selling your home. Let the buyers have the advantage to think about how the rooms can serve their purpose.

         

Sell Your House With Elite Properties

A traditional home for sale method will require money, time, and energy. You can contact Elite Properties they are cash buying company that provides cash for homes New York. Selling house to a cash buyer (selling psychology) is much feasible as they don’t charge you any upfront costs. You can sell your house within 3 days in any condition and we will pay your closing cost. Call us today for an offer at 718-977-5462.

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Sell Your House Or To Refinance? Choose What Is Best For You

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It’s hard to resist the ‘sell your house’ ads or ‘refinance house’ in your mail and also the frustration of mortgage repayments. Keeping up with monthly mortgage repayments can be a tough task. Is getting a new loan to cut down the expenses your next thought? You might want to reconsider your options.

The pandemic had a hard hit on everyone, with people losing jobs and it being tough to manage expenses. Refinancing your mortgage can shorten the life of your current mortgage and also provide lower interest rates. It can significantly lessen your monthly mortgage payment although, selling your home makes more sense if you’re unable to manage the monthly installments. If you are confused between selling your house or refinancing? Choose what is best for you by reading the blog below.

Possible Reasons To Refinance House

Refinancing is a process where you replace your existing mortgage with a new loan. People usually refinance their mortgages to get a new ones for lower interest rates and reduce monthly payments. There are many reasons for homeowners to refinance some of them are listed below.

 

To Lengthen Or Shorten The Mortgage Term

Refinancing can help you lengthen the mortgage term which allows you extra time to pay off your loan. It also lowers the amount you are entitled to pay every month. Refinancing also helps in shortening the mortgage term. When you increase your monthly payment you repay faster and save the running interest amount. This way you own your house faster and save thousands on interest.

 

To Change The Structure Of Your Loan

If you have an Adjustable Rate Mortgage (ARM) and you’re past the fixed period, your monthly interest rates may vary significantly. You can refinance the ARM to a fixed-rate loan which will make your monthly repayment and expenses predictable. Changing the structure of your loan gives you control of your monthly expenses.

 

To Change The Type Of Loan

Homeowners refinance their government-backed loans to a conventional loan as they build equity. If you pay 10% of the down payment for a Federal Housing Administration (FHA) loan, you are entitled to pay the mortgage insurance premium. Although, when you build a 20% equity on the conventional loan, you can get away with private mortgage insurance.

 

To Cash Out Your Equity

In cash-out refinance you replace your old mortgage with a new one with a higher balance. The difference between the old and new mortgage is paid in cash to the homeowner at many more favorable terms. As these mortgages have higher principal and low-interest rates they can be used for almost anything like paying off debt or getting new purchases. 

 

Look For Available Options

 

Consider refinancing as an option but want to sell your house in the coming future. So why not look at some options? Before jumping to conclusions.

 

Loan Modification

A loan modification is less expensive than refinancing. When you choose to modify the loan your lender agrees to make changes on mutual terms. It consists of changing your monthly repayment amount, interest rates, and your term. In rare cases, the lender might also reduce a chunk of the principal from the amount. So, if you are facing financial difficulties this might be an ideal option for you. 

 

No-Closing Cost Refinance

While applying for a refinance house, lenders usually offer you a no-closing-cost refinance. By picking this option you merge your closing costs in the principal of the loan. In a no-closing-cost refinance you pay a higher interest rate and pay nothing while closing.

It may sound enticing although, you’d end up paying closing costs on the term of your loan anyway.  However, if you are selling a house early you might only pay a few dollars. A no-closing-cost refinance may be beneficial when you cash out your equity. It provides financial aid if you are selling your distressed home.

 

Choose To Hold Off On Your Refinance

It is always better to skip a refinance house if you are not planning to stay in it for long. It makes sense to hold off on your refinance when circumstances aren’t much favorable. Calculate the time you’d be living in the house to earn the money back from closing.

 

How does Refinancing work for your Home?

Refinancing your house involves many of the same steps as buying a home, but the process is often less complicated. While it can be difficult to predict exactly how long your refinance will take, most refinances are completed within 30 to 45 days. During this time, you’ll work with your lender to gather necessary documents and complete any required appraisals or inspections. Ultimately, refinancing can be a great way to lower your monthly mortgage payments or access equity in your home.

Let’s take a look at the process :

Application

Before applying for a refinance, it’s important to research and compare the different types of options available to find the best fit for your financial situation. Once you’ve decided on a lender, they will ask for the same information you provided when you first bought your home, including your income, assets, debt, and credit score. 

  • You may need to provide documents such as your two most recent pay stubs, W-2s, and bank statements. 
  • If you’re married and live in a community property state, your spouse’s documents may also be required. 
  • Self-employed individuals may need to provide additional income documentation, and having your tax returns from the past couple of years on hand is a good idea. 

Keep in mind that you don’t have to refinance with your current lender and it’s important to shop around and compare rates and client satisfaction scores before making a decision.


Deciding Interest Rate 

When refinancing your loan, you may have the option to lock in your interest rate or float it. If you choose to lock in your rate, it means that the interest rate will remain the same until the loan closes. 

On the other hand, if you choose to float your rate, it means that the interest rate may fluctuate until the loan closes. It’s important to consider your financial goals and the current market conditions before making a decision.


Lock-In your Refinance Rates 

When refinancing your mortgage, it’s important to consider locking in your interest rates to avoid any potential market fluctuations. The length of the rate lock period can vary depending on your location, loan type, and lender, typically lasting anywhere from 15 to 60 days. 

Opting for a shorter lock period may result in a better rate, as the lender doesn’t have to hedge against market changes for as long. However, if your loan doesn’t close before the lock period ends, you may need to extend the rate lock, which could come with additional costs.


Float Your Rate before Locking In

When applying for a loan, you may have the option to float your rate instead of locking it in. This means that you don’t commit to a specific rate and instead take the risk of the rate either going up or down. 

While this may result in a lower rate, it also puts you at risk of getting a higher mortgage rate. However, some lenders may offer a float-down option that allows you to take advantage of lower rates if they become available. 

Ultimately, if you’re satisfied with the current rates, it’s generally a good idea to lock in your rate to avoid any potential rate increases.


Mortgage Underwriting

When you apply for a refinance loan, the mortgage underwriting process begins. This involves your lender verifying all of your financial information to ensure its accuracy. 

Additionally, the lender will verify details about the property, including its value, which is determined through an appraisal. The appraisal is a crucial step because it can impact the options available to you. 

For example, if you want to take cash out, the value of your home will determine how much money you can receive. If you’re trying to lower your mortgage payment, the value could impact your eligibility for certain loan options or whether you can get rid of private mortgage insurance.


Home Appraisal

When refinancing your home, it’s important to get an appraisal to determine its current value. Your lender will typically order the appraisal, which involves an appraiser visiting your property and providing an estimate of its worth. 

To ensure a favorable appraisal, it’s recommended that you tidy up your home and make any necessary repairs beforehand. Additionally, creating a list of any upgrades you’ve made to the property since purchasing it can help demonstrate its value.

After a home appraisal, your next steps will depend on the outcome. 

  • If the appraisal matches or exceeds the loan amount you’re seeking for a refinance, the underwriting process is complete and your lender will provide details for closing. 
  • However, if the appraisal comes back lower than expected, the loan-to-value ratio may be too high for your lender’s requirements. In this case, you can choose to decrease the amount of money you want to refinance, cancel your application, or opt for a cash-in refinance by bringing additional funds to the table to meet the terms of your current deal.

 

Closing On Your New Loan

After the underwriting and home appraisal are complete, the final step is to close your loan. 

  • A few days before closing, your lender will provide you with a Closing Disclosure document that outlines all the final numbers for your loan. 
  • The closing process for a refinance is typically faster than for a home purchase and is attended by the people on the loan and title, as well as a representative from the lender or title company. 
  • During the closing, you’ll review the loan details and sign the necessary documents. Any closing costs that aren’t included in your loan will need to be paid at this time. 
  • If your lender owes you money, such as in a cash-out refinance, you’ll receive the funds after closing. 

Once you’ve closed on your loan, you have a 3-day grace period before you’re locked in. If you need to cancel your refinance, you can exercise your right of rescission during this time.

 

Frequently asked questions about (FAQs) Refinancing

 

What is the cost of refinancing?

The cost of refinancing your home loan can vary depending on several factors, such as the lender you choose and the value of your property. Typically, you can expect to pay between 2% to 6% of the total loan amount. 

However, the good news is that you may not have to pay these costs upfront, especially since the adverse market refinance fee has been eliminated. Some lenders offer a no-closing-cost refinance option, which means you won’t have to pay any fees at closing. 

However, keep in mind that you may end up paying a higher interest rate over the life of the loan to cover these costs.

 

When should I refinance my mortgage?

Deciding when to refinance your mortgage requires careful consideration of various factors. One important factor is the current market trends, including interest rates. Your financial situation, particularly your credit score, is also crucial to consider. 

To determine if refinancing is worth it, use a mortgage refinance calculator to calculate your break-even point after accounting for refinancing expenses. It’s also important to understand how refinancing differs from other mortgage options, such as loan modification and second mortgages.

 

Is a second mortgage the same thing as refinancing?

It’s important to understand the difference between a second mortgage and refinancing. Refinancing involves replacing your existing mortgage with a new one, resulting in one monthly payment. 

On the other hand, a second mortgage, such as a home equity loan or HELOC, requires an additional monthly payment on top of your original mortgage. While second mortgages may have lower closing costs, they often come with higher interest rates compared to refinancing. 

It’s important to carefully consider your options and choose the financing option that works best for your individual needs.

 

Can I reduce my monthly mortgage payment without refinancing?

If you’re looking to lower your monthly mortgage payment without going through the process of refinancing, a mortgage recast may be a good option for you. This involves making a large lump-sum payment towards your principal balance, which allows your lender to recalculate your monthly payments based on the new, lower balance. This can be a straightforward way to reduce your monthly payments and make your mortgage more manageable.

 

How soon after closing can I refinance?

The timing for refinancing after closing on a mortgage varies depending on the type of loan and the investor in your mortgage. Some lenders may allow you to refinance as soon as 30 days after closing, while others may require you to wait 6 months or even a year. 

The frequency of refinancing also depends on factors such as the amount of equity you have built up and your current mortgage balance. It’s important to check with your lender to determine the specific guidelines for refinancing your mortgage.

 

Will refinancing my home affect my credit?

Refinancing your home can have a temporary impact on your credit score. This is because the lender will need to run a credit check and perform a hard inquiry on your credit history. 

However, as long as you continue to make timely payments on your debts and avoid opening new credit accounts, your credit score should recover within a few months. So, while there may be a short-term dip in your credit score, refinancing your home should not have a significant long-term impact on your credit.

 

Sell Your Home For Cash  

Refinancing your home may be flexible but in some cases, it may not be an ideal option.  If you are selling your distressed home, refinancing may not be worth it. Selling your home to a cash buyer is a better deal you can sell remodeled houses to Elite Properties New York and avoid the hassles of refinancing. Elite Properties is a ‘we buy houses for cash company’, which means we buy houses in any condition. You can sell your house fast for cash in NY and close the deal in less than a week. We buy property for cash and also pay the closing costs, which allows you to move faster with your plan. Call us today at 718-977-5462 to know more.

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Read about these obstacles before Selling House Quickly In Winter

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Selling House quickly is always tough no matter how you do it, it will be a mentally and physically draining process. To achieve profit try selling your house in spring or summer when people can opt for walkthroughs. Although, if this is not your plan you might want to read about these obstacles before selling your home in winter. 

Accurate Pricing Can Be Difficult 

Setting a realistic price is a task for homeowners as they have a sentimental value attached to them. In winter, people celebrate holidays at home that add to their emotions and make them set high prices for their property. This can be a bad thing for sellers as it will only keep potential buyers at bay. A wrong or unrealistic price will turn buyers away making your property sit for a long time in the market. It is an unsaid rule when a house sits for a long period people become cautious and avoid buying such houses.   

In this digital world, everything is achieved with just a click, similarly to listings as well. People can easily add a filter and eliminate older listings from the website, which won’t help you sell properties online.  Setting a wrong or unrealistic price come with setbacks, doing a proper in-depth analysis will help in enticing more buyers.

Missing On Deadlines 

There are many facets while selling your house in the winter and one of them is deadlines. Most of the sellers who list their homes in winter are first-timers. When Federal Regulations and State and Local Laws are in the picture in a home sale it lengthens the process. The number of documents involved in a home selling process can be daunting which pushes deadlines further. Another possibility that pushes deadlines is inspections. There are multiple inspections involved like pest inspections, radon tests, etc. 

Agents Come With Added Costs   

There are multiple fees involved when you hire a real estate agent to evaluate the prices of your house while selling house quickly. Furthermore, there are commissions and other added fees when an agent is in the scenario. Most homeowners agree to sign a contract with all the fees involved only to avoid the hassles of paperwork. Although, in most cases, the agents become the biggest obstacle instead of selling their houses in winter.     

Walkthroughs Can Be Stressful 

Constant disturbances can hamper your personal life. We know welcoming people into your house every weekend can be stressful, and you always need to keep your house perfect and tidy. It can pile up even more during the holiday season as families come together for celebrations. Besides, people living in the north have it more difficult due to the snow-capped exteriors. It is almost impossible to carry out a walkthrough in such a tough climate.   

Prepping Your House For Buyers

Spending extra money on your house for improvements while selling house quickly is the last thing you would ever want to do. When you sell your house fast for cash in NY it becomes important to stage your home. In winter you might have to work harder to make your house appear more enticing and appealing to potential buyers. A well-staged house would sell faster than a house with no staging or improvements at all. Make sure you do a proper analysis before hiring a person to do improvements at your place. 

What’s The Solution To Sell Property in Winter?

The obstacles stated above can cause a delay in the traditional listing, which may take up to months to close a deal. You can always consider selling your house to real estate investors like Elite Properties NYC.

Why sell your house to Elite Properties?

  • Selling your property to us will help in faster closings
  • It avoids the hassles of hiring a real estate agent and paperwork
  • You avoid paying them upfront costs
  • Sell your house in just 3 days

When you have an easy option to sell remodeled houses then why go anywhere else? You can sell the property for cash in NY to Elite Properties, we buy houses any condition. Sell your distressed house to us and get cash in return, call us at 718-865-3523 today to know more.

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Try These Methods To Sell Your House Fast

Try These Methods To Sell Your House Fast

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Listing your home and waiting for it to sell is a tedious task. Home selling can take up to a few weeks to a year depending on the condition of your house. If a house sits on the market for more than a month it loses its value. People consider it a negative sign thinking the house may have certain defects making it unsellable. If you think your house has been sitting on the market for a long time you may try these methods to sell your house fast.

Things you can do to sell your house fast…

1. Set A Realistic Price

Setting a realistic price for a house is a vital step toward faster home selling. High pricing is the most common mistake made by home sellers. Setting a realistic price for your home is a big challenge. It is recommended to take professional help before fixing the price in alignment with the fair market value of the house. 

In such circumstances, you may consider slashing the price of your house. It is advised to wait for three weeks to a month before dropping the price of your house. The National Association of Realtors state around 40% of home sellers reduce the price of their properties at least once. You must be thinking what is the exact amount to attract buyers? There is nothing like a precise amount but you may consider reducing a significant amount from the total value. Although, deducting some thousand dollars may help gain attention to your house.

2. Lack Of Staging

For a buyer to buy any product or service, it should be appealing to the eyes. Similarly, for houses, it is an essential aspect to stage them properly to make them appealing. A staged home will sell fast for cash than any other house. While listing your home in the market make sure you stage it nicely to entice potential buyers. You can take some ideas from Pinterest or hire a professional stager to make the work easy.

3. Consider Making Improvements

Curb appeal will make faster sales. When you do improvements in your house just before listing it gives a good impression on buyers. Enhancing the interiors of the house requires staging, similarly, the exteriors need enticing curb appeal. Having mold-infected exteriors, untrimmed lawns, leaking pipes, etc. may result in delayed sales. The fix here is to carry out an improvement session to address the basic problem areas of your house.

4. Bad Quality House Pictures May Delay Sales

Nowadays buyers prefer viewing properties online instead of stepping out for house hunting. The National Association of Realtors state that around 87% of buyers find online listing useful. If you have listed your home online and it still isn’t selling, the reason might be poor pictures. Make sure your pictures are not blurry as you’ll be uploading them online for potential buyers. You can click pictures yourself or hire a professional photographer. 

5. Avoid Selling Your House In Winter

Winter is the slower time of the year when sales are typically low.  It is the holiday season when people move out of the cities for social engagements or to go on holiday to warm places. There are chances that your house may take longer to sell or you may have to sell for a lower price. It is advisable to wait for winter to pass on instead of selling during this period. Although selling your house in winter is not an ideal situation; you can still sell it to buyers who are on a house hunt.

6. Keep Renting As An Option

If you’re having a hard time selling your house you can try renting. When you rent your house it promises monthly cash which is a good option when you are running out of savings. If you have moved out already and have the pressure of paying two mortgages then renting can be an ideal option. It will allow an ample amount of time and aid in saving money in the future.

7. Sell To A Cash Buying Company

If you are running out of time and are looking for a solution you can contact companies that give cash for homes. Elite Properties is one such company that buys remodeled houses New York. We close a deal in as less than 7 days, which makes you move with your plans at a faster pace. Selling your house to a cash buying company promises faster sales with no hassles paperwork.

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The Difference Between Real Estate Agent And A Real Estate Investor

The Difference Between Real Estate Agents And Real Estate Investors

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Do you wish to sell properties online but don’t know whom to approach? Well, we are here to suggest and help you pick the right person. Many homeowners contact real estate brokers to sell their homes so that they can make more money. You can also contact Real Estate Investors to sell your house. But, it is advisable to consider both before choosing one to determine which one suits you the most.

You might think what is the difference between both of them anyway? The difference is negligible as they both generate revenue from the same field. Scroll down to know the difference between a real estate agent and a real estate investor.

License Plays an Important Role

To make valid transactions it is important for a real estate agent to have a license. An agent requires a license of his/her particular state of service. An agent should have a license to act as a representative for other people to buy or sell homes. On the other hand, an investor does not require a license to run the business.  

Commission Has Different Aspects

The commission involves agents and investors, while the methods of extraction are different.

What is Real Estate Agent?

Real estate agents earn a commission on every sale carried out by them. The amount can be anywhere from 1-5% of the total share inclusive of the other costs. Agents rely on the sale price of a property to determine how much commission they receive. The higher the price, the higher the commission.

What are Real Estate Investors?

Real estate investors will pay you cash for your home. This means they will give you actual money in exchange for your home. An investor has a faster pace of working when it comes to making a fair cash offer and regulating the cash flow. They will sell the property at market value or flip it to another investor for a lesser price. Sometimes investors sell properties in bulk to earn more with each sale. This way investors find ways to earn a commission.

Maintaining The Integrity of the Brand Has Diverse Ways

Real estate agents make sure to market their brand name to attract clients. Networking using websites and business cards can help Agents to expand their network. Real estate investors on the other hand do not spend a lot on marketing. They use signboards with ‘we buy ugly house’ or ‘we buy house for cash’ written on them. These signs are placed in cities or nearby yards, which can be easily spotted from a distance. Retaining the integrity of the brand may have different modes, but the motto stays the same.

Involvement of the Brokers

Real estate agents have to work under brokers. Agents work for brokers after completing their training and receiving a state-issued license. A real estate investor does not have the need to work under a licensed broker isn’t mandatory.

How Elite Properties Is Better Than Any Other Agent

We now know about the distinction between an agent and an investor. This will help you choose the right option for you. Although, there are some more differences, which will help you choose better.

Agents:  Real estate agents sell home with the help of MLS also known as Multiple Listing Service

Elite Properties (Investor): We buy houses individually without any listings

Agents:  You’ll have to pay closing as well as additional costs to cover a sale.

Elite Properties (Investor): We cover everything inclusive of closing costs and legal fees to make your home sale process easy

Agents: A traditional home sale through an agent will take approximately 30-60 days to close a deal

Elite Properties (Investor): We close a deal in as less as 7 days

Conclusion

Picking the right person to sell your house is vital. One has to research their options before proceeding with a home sale. Elite Properties is a cash buying company, we sell your house in 3 days in any condition and at any location. Furthermore, we will also pay your legal fees and closing costs. Call us at 718-977-5462 or visit our website https://www.elitepropertiesny.com/ to know more about the home selling process.

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Eco-Friendly Enhancements To Add Value To Your Homes Worth

Eco-Friendly Enhancements To Add Value To Your Home’s Worth

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To increase a property’s value there are so many enhancement options available in the market. Although, are they sustainable? Will they add value to the house? Asking such questions will help you choose better options while you do renovations. Instead of paying huge bills you can invest in smart appliances and save later. Switching from grid to solar energy. Getting your home LEED certified. Investing in a rainwater harvesting system are some eco-friendly enhancements to add value to your home’s worth. Taking these miniscule steps will encourage you to live a sustainable life.

Consider Smart Windows for Saving Big On Bills

The weather plays a vital role in your monthly bill savings. On hot days you would need an AC whereas, cold days will require heating systems. The question here is how you can take an eco-friendly step. The answer is installing smart windows. Smart windows come with a darker tint and have an opaque facade. The dark cast helps in regulating the energy intake while the opaque facade helps with maintaining privacy. These windows cut your power consumption by 20% as they are good for retaining temperatures.

Invest In Solar Panels for Good Returns

Solar panels may come with upfront costs, but they will aid in saving energy bills. Installing solar panels will assure great ROI. Although the prices are on the higher end it may lessen the rebate reliant on your state/city. It is also essential to make proper calculations before shifting from the grid to solar energy. If you live in warmer areas, changing entirely to solar energy can be a wise option.

LEED Certification Is Essential

A LEED certification works as a verification platform for a house/locality’s green traits. The analysis features consist of the construction material, electrical appliances, etc. The certification is mostly pertinent to new commercial buildings. Although, the certification may be applicable to the residential sectors soon. Also, if you need cash for homes, it is time to get your home certified.

Switch To High Energy Efficient Machines

Switching to high-efficiency appliances comes with profit. While selling the remodeled houses in New York, energy-efficient appliances act as a bonus for potential home buyers. High-efficiency appliances consume less energy, but it is essential to compare the energy performance before installing them. Switching your old HVAC system with energy star rating appliances cuts the energy consumption by 40%. You may also consider installing a solar water heater and saving a few thousand dollars.

Use Green Seal Certified Materials and Recycled Wood For Renovations

If you are thinking about renovation, you can select from green seal-certified materials. The green seal-certified material is non-toxic and eco-friendly. Products like carpets, industrial glue, wood stains, etc. are prepared with VOCs, which are chemical-free. To increase your home’s value you can also switch to using recycled wood for furnishings. Reusing and recycling is the need of the hour, and using reclaimed wood can be the best choice.

Rainwater Harvesting Adds Value to Your Home

Rainwater harvesting is a natural option when it comes to saving water. It indeed comes up with an upfront price, but the profits may prevail over the costs in the future. Mounting a rainwater gathering system can be favorable for you and can save nearly $200 yearly. This way, you are taking small eco-friendly steps towards sustainable living, which adds value to your home.

Bottom Line

Going eco-friendly is not just a step but a routine in itself. Adapting the above-mentioned changes will entice more buyers and help you sell your home fast. While doing these renovations makes your home green or sustainable and increases your home’s worth. Furthermore, you can contact Elite Properties to sell houses for cash on 7189775462. We buy houses for cash and offer you fast closings and an easy home selling process.

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Impact Of COVID-19 On Real Estate Prices Trend

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We know businesses around the world faced a hard hit due to the COVID-19 pandemic. The real estate market was great to hit & not left behind. Initially, in 2020 the housing market in the United States started with a good strike. Although, amidst March the coronavirus outbreak came into play; everything including job losses, economic slowdown due to closed business, and uncertainty in home sales waved across the nation. With homestay orders still in the uplifting process, you can see the ‘Impact of COVID-19 on Real Estate Prices Trend’.

Situations Post Covid-19 Pandemic            

As stated in the first week of April, the statics showed one million-plus positive cases around the globe with constant additions. The crises have impacted the global economy, and the unemployment rates have risen.  According to recent claims, the unemployment rate is approximately 30 million. This becomes the justified reason for the steep economy of the states and affected Real estate Prices Trend.

Regarding the real estate sector, the existing home sales witnessed an approximate 7.2% increase from February 2019 to February 2020 (sources). Furthermore, according to the National Association of Realtors (NAR), the recorded static gain was 6.5% in January and February 2020 combined. A joint report on new home sales from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) stated; that there was a mere drop in home sales by 4.4% since January 2020 (as per the current post-Covid-19 scenario). The home sales report on a year-on-year basis (2019-2020) shows a positive growth although; it started to tumble gradually starting from January 2020.

Housing Inventory Situation

The housing inventory has been quite low. As of February 2020, it went down approximately by 10% on a year-over-year basis. This apparently dropped the supply of housing. As the stay-in-house orders are in the reliving process it is still not possible to choose a house showing or walkthrough service. Although, a great option available for new home buyers is virtual tours. Sources specify the virtual tour requests in April made up one-third of the total requests as compared to the month of March.

A Complete Home Sales Analysis

As mentioned in the previous blogs, the best time to sell a house is from March to Mid-May. The reason being winters are gone and spring blooms, which accelerates the home selling process.  The new listings, as per the pre-COVID scenario were increased by 5% on a year-over-year average. Although the current status of the newly listed properties posts 29th March -5th April has decreased by 34% and 31% on a year-over-year basis (sources).  The percentage stands to be amongst the biggest declinations of this year. If the situation is prolonged, the bar may see a fall in inventory in the coming times.

There are two predominant scenarios in home sales namely V-shaped and U-shaped scenarios. The V-shaped scenario drops in the second quarter and recovers through the summer and the recovery stretches till the end of the year. Whereas, the U-shaped scenario shows the home sales to drop gradually with constant declinations extending through the end of the year 2020.  Not leaving behind, the Coronavirus has Pushed Mortgage Rates Lower, which has also made a great impact on the housing market.

What To Expect From Home Selling Or Buying?

Home selling or buying includes multiple processes to reach the end goal including paperwork, verification process, walkthroughs, etc. As the pandemic is still stagnant in place there are many changes that one has to adapt with respect to real estate.

  • If you are looking to sell your house try pushing to the late summer or fall. As per buyers, home prices usually drop in colder months, making it the best time to buy a house.
  • The closing process might witness a slowdown. Although, with digital walkthroughs and remote signings are still taking place. If you are a buyer or seller proceeding with transactions can be the best option.
  • Use mortgage relief programs if you are a home seller and planning to pay off your mortgage. You may also qualify for mortgage forbearance if you’re unable to repay the monthly installments.

Additionally, to elude the lengthy home selling process you can get in touch with Elite Properties which will help in easy home selling. Also, we buy houses in an as-is condition which avoids the hassles of upkeep and repair without taking into consideration of Real estate Prices Trend. In such tight circumstances the most feasible option is to sell the home for cash with a cash buying company, call us today at 7189775462.

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7 Tips On How To Sell An Unsellable House

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If your house isn’t selling, it can be a big problem and a matter of extreme stress to homeowners. If it has been sitting for a long time in the market, it will ultimately lose its value. Simply tweaking your marketing skills and changing your home selling process can favor you a lot. If you think you’ve tried everything, then think again or scroll down below and go through the 7 Tips On How To Sell An Unsellable House.

Postpone The Home Selling Dates for your Unsellable House

Setting the right time to sell in the market is extremely essential as the price you may achieve certainly relies on it. It is a known fact that real estate is majorly a seller’s market and you’d need to know about the pattern of selling homes. There is a certain time of the year when the sales are highest, spring is the ideal time to sell your house or put it on the market. Whereas, winter is the time when sales are comparatively low. If you’re not up for the seasonal sale pattern then there’s another way where you can wait for the inventory to drop and then put your home on the list.                     

Try Selling Your House Under The Market Price

Mispricing your home can be the easiest mistake you can make while listing your home, so the ideal way to entice buyers is by selling your property for a lower market value. Buyers or real estate investors are always on a hunt to find houses that are priced for less than their fair market value, this kind of sale is also known as ‘fire sale’ according to the real estate lingo.

This might not be your ideal choice but in this state of utter despair, this might be the most enticing option for you. As investors are constantly looking for such deals, some companies might actually surprise you by buying your property in as-is condition for a fair price. Try selling your house to a ‘we buy house for cash’ company; Elite Properties New York will buy your house in any condition and additionally offer you a no-obligation offer.

Consider Deep Cleaning, Improvements, And Curb Appeal

A clean house will always sell for a huge profit, keeping in mind its functional aspects of it. Fixing serious issues like your electrical and HVAC system will work wonders if they were in a rough condition. Plumbing, windows, and checking for leakages from roofs or sewage pipes are important points to remember. Make sure all the functional aspects of the house are covered before selling. If you’re not able to cover the improvement’s expense then include it as an incentive with the house.

The next important thing to focus on is the curb appeal of your house. If a home isn’t good-looking from the outside it’s never going to sell. You can counter the easy and less pricey things first and then move on to the costly improvements as and where needed. Just cleaning the sidewalks, mowing the lawn, and cleaning the exteriors of your house can make a visible difference.

Up Your Marketing Game

It’s all about the virtual world these days; the easiest way to list your home on the market is by putting it online for people to take a view. Adding to the rest, the results will only show if you market your home right. MLS or Multiple Listing Service can be extremely handy once you choose to put your home online, this particular service enables you to find the right buyers on a wider platform.                                               

Good marketing is equivalent to profitable sales so while listing your home make sure you’re putting out precise information for prospective buyers. Click sharp images of your complete house and also try making a video from the entrance to each room for a better perspective for buyers. A buyer would possibly skip pictures but not a video; make sure the quality of your video is clear, crisp, and shot in bright light.                    

Documentation Of Property Is Essential

If you’re putting your unsellable house on the market it is important for you to keep complete written information about your property and the changes made or required in the coming future. Keeping updated information about your property will help you in an easier sale and would promise better profits. No matter whether your house is in whatever condition it will always be sold for a fair price if you’ve been transparent with the potential buyer.                 

Think Through A Short Sale

This might be your last option to reach the final results and achieve a fair price on your property.  In most cases statistically quoting; people end up owing more than the property’s worth which is practically impossible to remunerate. There are cases where most of the lenders (in case you have an outstanding mortgage) may or may not agree to a short sale additionally, not every seller will qualify for a short sale. In such circumstances, it is best to opt for a short sale although it is important to do your research before diving in.                                                                                                

Sell Your Home For Cash To Elite Properties

Going through a mortgage, debts, improvements, and on top of it selling an unsellable house can be a lot to bear. In such an unfortunate condition your first option should be selling your home for cash to cash buying companies in New York like us. Selling your home for cash to us might be a boon in an ugly situation. We buy houses as-is which means you are saved from the hassles of making repairs. We close the deal in as less as 3 days which means you can take your money and repay your debts in no time.

 guarantee a fair all-cash offer with an additional no-obligation offer where you can terminate the proposal and you won’t have to pay any commission. If the deal is finalized we’ll also pay the closing and associated fees, so what is stopping you? Sell your house for cash to us and we’ll promise you a profitable all-cash sale. Call us at 718-977-5462 or visit us at Elite Properties to sell your house today.

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Avoid These 7 Home Selling Mistake For A Profitable Sale

Avoid These 7 Home Selling Mistake For A Profitable Sale

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Selling a home is an arduous task, it requires a lot of time, effort, and money. As easy as it looks, it becomes more challenging with each progressing step. Some homemakers make the home selling process seem like finding a needle in the haystack, whereas it is a laid-back method if you avoid these 7 home selling mistakes for a profitable sale.

There are innumerable home-selling mistakes that homeowners make, and very often they are common with every house and house owner. If these mistakes can be prevented there is a possibility of a homeowner increasing the yields of the sale by raising the profits by half or more. You must be thinking what are these mistakes? And how to avoid them? The answer is; that we will brief you on all the home selling mistakes, so you have a guaranteed sale. If you are a first-time home seller then scroll down below for the insights.

 

Incorrect or High Pricing of Home

 

Incorrect pricing is the topmost reason for home sales fall through. No matter how emotionally connected you are with your property, the truth is; that a home will never be sold if priced incorrectly or high in that case. For you, your property might be the best one, although for others it may be just a functional piece with less or more amenities. It is important for you to detach the emotional ride and adopt a perspective of a potential buyer, and look for improvisations.

A competitive price will always attract potential buyers, this does not mean you have to set a lowballed or a high offer. A high price will drive away buyers whereas a low offer will make them lose interest in the house, thinking the property may have defects.

 

The Mistake of an Unprepared Sale

 

Another mistake home sellers make is neglecting necessary repairs; you can’t sell a home that has sewage issues or a leaking ceiling. Remember the first impression is the last impression and the same applies in real estate as well. A buyer can and will pay a high price if your home looks beautiful and is fully functional.

  • The first thing to keep in mind before you proceed with the walkthroughs is to make repairs wherever necessary.

  • Second, enhance the curb appeal of your house; mowing the lawn, painting the walls, cutting excess growth of plants, and little things like these will go a long way.

  • The third thing is to do optimum staging, staging your home can make anyone fall in love with your house. Light scented candles, paint neutral colors on the wall, put DIY handicrafts, keep pets away don’t let clutter dominate the beauty of your residence.

It is very easy to negate such issues, but a little or so these concerns might blatantly cause a fall through in sales. Not preparing your home according to the prerequisites of a walkthrough might be your last mistake. While you are letting others in, make sure you show them each corner of your home.

De-cluttering your home, vacating congested spaces and staging are some pro tips for a successful walkthrough. By doing so you are improvising the sale proceeds as well as making a good impression of yourself and the home in the eyes of the buyer. Make sure you show each niche of your house so that no stones are left unturned. Highlight the dead spaces so that they can create something of their own and design the place according to their taste.

 

Not Being Flexible With Showings

 

The fact is undeniable that walkthroughs or showings do require time and effort. Potential prospects must feel warm and welcomed as soon as they enter your house, no visitor would want to see a shabby house with stuff scattered everywhere. If you can’t schedule your timings according to the prospects, you’re at a big loss. There are going to be tough and rigid timelines but being flexible is the only way out, a little time can turn into a big profit someday. Plan your day according to the visitor’s timeline so that the process of the walkthrough can be easy and stress-free.

 

Not Maintaining Transparency with Potential Buyers

 

Another home selling mistake is being dishonest with buyers. This is the main cause of the fall in sales, evidently because homeowners hide the conditions of their houses. There are a lot of aspects that fall into a good sale unfortunately being opaque is not of them. To avoid this mistake you can create a complete documentation of done repairs. Repairs are required and money is spent altogether inclusive of insurance and taxes. The buyer is convinced that there are no issues lurking beneath the surface.

Proper disclosures are really important while selling your home. In some states being dishonest with buyers can fail your sale and lead you to a lawsuit. It is advisable to talk to the prospects and guide them through the nook and corner of even the ugliest areas. 

 

Avoiding Flexibility with Negotiations

 

It’s always good to have an open mindset while you put your home on the market. Negotiating terms before selling your home might give you a profitable sale. Try melting the terms mutually, being stubborn and asking for a higher price might lead to a major loss. 

 

You’re Probably Listing at the Wrong Time of Year

 

While home selling is carried out throughout the year. There are still some perks of selling it at the right time of the year. The question is, what is the appropriate time for selling your house? The answer is late February to Mid-May. Listing your home in colder months would come with many cons. Like, improper or naught walkthrough requests, no space for necessary improvements, and the house looks drab and covered in snow. Your home might sit back in the market for longer than expected due to the lack of home buyer interest. Listing your home at the right time will give you better chances of selling quicker.

 

Do Not Avoid We Buy House for Cash Offers

 

We comprehend selling your home needs a lot of time, money, and energy. If you are in a situation where selling your home is taking a toll on your head then sell it to us at Elite Properties. Selling your house to ‘companies that buy houses for cash’ guarantees you a profitable sale, and as a bonus ‘we buy houses in any condition’ means; selling a home at your convenience.

If you find yourself stuck in a rut and want to make a faster sale then contact us at 718-977-5462 or reach out at Elite Properties. Sell your house fast for cash and make the home selling process easy. We won’t request any documents or any efforts to stage your home.

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