Selling Your Home

How to Sell Your Home During a Real Estate Slowdown

Selling a home is proving to be not quite as easy as it was last year—or even six months ago, for that matter.

Between the news that we already seem to be slipping into an unofficial recession and a home market slowdown, many sellers are starting to feel like they’re up against an impossible task. The Federal Reserve’s most recent interest rate hike of 0.75% is expected to push up mortgage rates that had already reached a 20-year high, putting further pressure on a stressed market.

But if you’re in a position to sell, there’s absolutely no reason to give up hope!  While you might not be able to bank on receiving multiple offers over your home’s asking price (the way we've seen over the last 2 years); but with a little foresight and strategic thinking, you’ll be scheduling the moving trucks in no time.

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How to Ace a Home Inspection and Sell Your Home Fast

The home inspection can be a particularly stressful part of the home buying process for buyers, but the equally anxious seller might be waiting with bated breath for the results as well. The buyer is typically responsible for scheduling and paying for the home inspection, but if the house is revealed to have major issues, the seller can be on the hook for repairs - or could lose the deal entirely.

When selling a home, one of he most nerve-wracking parts of the process is waiting to see the outcome of the home inspection. Home inspection issues like termite or mold damage can mean the seller will have to shell out money, credits, or concessions to make things right with the...

After You Sell Your House, Make Sure You Do These 10 Things

After you sell your house, you’re done, right? You can walk away and celebrate?

Well, not exactly! After you sell your house, you certainly should celebrate, but you have more things to talk about, from tax prep to buying your next house. 

What to do after you sell your house

You’re going to need to do something with any proceeds you have left from the sale. Plus there are tax implications to consider, and if you haven’t already, you need to think about where you’re going to live long term.

Here are some tips that can help guide you after you sell your house:

1. Keep copies of all paperwork related to the closing and settlement after you sell your house

Although it might be tempting...

How to Sell a Home During a Recession: A Wake-Up Call for Home Sellers Right Now

Fears of a recession are looming large right now - and while we aren’t technically in one yet (that would require two consecutive quarters of negative economic growth), even the possibility of a recession sends worrisome ripples throughout many areas of our lives, and the housing market is no exception.

For homebuyers, a recession could be that final factor that, combined with rising interest rates and high home prices, prompts many to shelve their house hunt until conditions improve. For home sellers, a recession could mean the raging seller’s market they’ve enjoyed for the past two years could be waning, dragging down home prices and profits.

Granted, some of the market changes happening right now can be blamed on the season. And yes, while the market typically relaxes a bit in summer,...

Home Sellers Were Spoiled: 5 Rude Awakenings to Brace For If You're Selling Your Home Today

For the past two years, real estate has been in a raging seller’s market. Sellers have been able to expect offers well over the asking price frantic bidding wars, and few if any strings attached. They’ve basically been able to name their price and get it, with some extra to spare.

But those glory days may be coming to an end.

The real estate market is cooling down. Homebuyers have more listings to choose from - but less borrowing power, due to continued high prices and increasing mortgage rates. This means sellers may no be able to whip up those epic offers they’ve heard of and hoped might come their way.

This doesn’t mean sellers can’t still get a decent deal. They can! But if your home-selling fantasies are based on what the market used to be six months...

8 Things First-Time Home Sellers Often Get Wrong in Today's Crazy Market

The housing market is a sizzling seller’s game at the moment, where homes stand to spark bidding wars and sell for sky-high prices.

COVID-19 caused so many people to re-evaluate their shelter needs, resulting in increased demand for homes and a continued lack of inventory.

All in all, this is great news for sellers - yet with soaring prices and high expectations come a whole new set of possible pitfalls that could trip up inexperienced sellers, particularly if they’re selling for the first time.

Curious how you might risk ruining a good thing? We asked some real estate experts to identify what many first-time home sellers get wrong when listing their home today.

1. Overpricing your property

Just because sellers dominate now, don’t think “red-hot...

Is It Time to Slash Your House Price? Reductions Aren't as Bad as You Think - and Could Even Spur a Bidding War

Home sellers today might find themselves encountering a sharp and painful divide between their hopes and reality. The hope, of course, is that their house will quickly fetch multiple offers way over the asking price. The reality? Their property might sit for a while, perhaps with no offers at all.

At that point, sellers might have to contemplate what not long ago was unthinkable: slashing the asking price of their home.

While price reductions might have been a rarity during the red-hot seller's market of the past couple of years, they're becoming increasingly common today. Realtor.com listing data shows that the share of homes that reduced their list price reached 14.9% in June versus 7.6% a year earlier.

Why have price cuts on listings nearly doubled? Because many home sellers have yet to adjust their lofty expectations against...

The 7 Deadly Sins of Home Sellers

Home sellers have been in heaven these past couple of years, awash in bidding wars that have pushed property prices sky-high. But at long last, the tables are starting to turn.

In short, rising interset rates, rampant inflation, and the threat of recession are causing America's red-hot seller's market to level off as a growing number of buyers just give up. Real estate inventory is rishin as homes linger on the market. Home sellers who've been wallowing in excess are no longer invulnerable, or able to subject buyers to their every whim.

For the last couple of years, the media has been filled with stories about how crazy the market is. Due to this, any home sellers now believe that they can sell for practically any price and in any condition. While this many have been partly true before, recently things have begun to change. Home sellers may now see that their lofty...

Home Flipping is Getting More Competitive – & Less Profitable

Fast-growing prices in the housing market, as well as low interest rates, are enticing more investors to buy homes, renovate them quickly and sell them for a profit. But while home flips are rising and investors are expecting growing returns, the profits are falling.

Close to 95,000 homes were flipped in the third quarter of this year, which was an increase for the second quarter in a row after flipping dropped dramatically in the first year of the pandemic. Flips represented 5.7% of all sales, according to ATTOM, a property database.

Yet the average gross profit on a flip was just under $69,000 in the third quarter, down 1.6% from the same period a year ago. The return on investment fell to 32%, the lowest return since the start of 2011. It was also down from a nearly...

The Most and Least Profitable Home Improvement Projects for Trying to Sell

Most Westchester homeowners make one or two renovations before selling their property. Not all improvement projects, however, are created equal and interest buyers the same.

Best #1: Garage Door Replacement (93.8% ROI) On this list, here is the project that has the highest ROI. While very inexpensive (on average about #3,900), this project can improve the value and look of your property!

Best #2: Minor Kitchen Remodel (72.2% ROI) A smaller remodel, such as replacing laminate countertops, performing lighting upgrades, or repainting the walls and ceiling, can add a great amount of flair and value to your overall home.

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Worst #1: Major Kitchen Remodel (53.9% ROI) While we discussed a minor upgrade as being one of the best you...