I want to sell my house in Chesapeake – so where do I start? Well let’s get into this topic so you can sell your house as quickly as possible.
So I want to sell my house – where do I start? Perhaps a new addition to the family, you need another room, maybe the kids have gone off to university and it’s time to begin to downsize.
Well as these changes have come about in your life and you’re considering the next step, the first step you need to take is to make sure you get a good realtor to help you in this process with selling a house fast in Chesapeake.
There are a number of ways you can go selling a home.
One way is you can ask a friend or a family member that has dealt with a realtor recently and go with a referral like this, another way is just to call a few of them and interview them and just see if there’s a good connection between you all, but whatever you decide and however you go about this process, it is important that the realtor you find is a realtor who can aggressively market your home.
3 Formulas To Sell Any House In 7 Days Or Less in Virginia
Now you can put it on an MLS which is a multi listing service, your Realtor will help you do that, that’s not a problem.
We will all do that and just wait for the right kind of traffic to come across this and there you go, you’ll find somebody that may be willing to put down what you want or enter into negotiation for that house that you’re going to sell fast in Chesapeake.
But if you find a realtor who does more than this, a realtor who aggressively markets the house with various forms of media, that house is going to sell, and it’s going to be at the top of the pile and getting more traffic than homes that are just listed and using the old school method just waiting for traffic to go by and hopefully you’ll find somebody who will match up with the property well.
How To Sell Your House Fast in Virginia - Why Is My House Not Selling?
So choose wisely, make sure that you have a realtor who can do good marketing for your home.
So once you find your realtor it’s important to spend some time to speak to your realtor about your home and how you can better present that home.
You know today many people watch real estate programs on HGTV and various other stations and of course their expectations as a result are very very high. It’s ok that you want to sell my home as is in Chesapeake.
Talking about Model Homes and Selling Your Home Fast
Also many go to new builds and in those new build sites they have model homes and these homes are done immaculately so obviously their expectations are very very high.
But if you take the time to just walk through your home with your realtor, this can be very helpful. You’re almost ready to Sell Your House Fast!
If you do an assessment room by room you’ll know exactly what to take care of and this doesn’t necessarily mean that you’ll have to break the bank in order to do expensive remodeling or expensive staging of your home.
Just taking a little bit of time to take care of this in a good way with your realtor can make all the world of difference and get that home sold right away in Chesapeake!
In the description to this video you’ll find a link to our PDF on ‘How to Prepare Your Home for a Successful Sale’, this will really help you with this step.
We Buy Houses For Cash in Your Denver Area -See How It Works!
Remember, it’s very difficult to change a first impression.
One of the most important things to get right is the pricing because you have to know that you can Sell My House Fast in Chesapeake or any area in Virginia.
Pricing your home right will determine whether or not it is sold quickly or it sits on the market.
hey what's up guys, I'm a 80 year old man.
gonna teach about real estatetoday so what were gonna talk about is how to calculate your list price.
I'm gonna expoint to you exactly why we do what we do and how everything goes down I'm gonna show you how to grow your business These are the things that today's market, you're gonna love what we did in here alright, were gonna start making some money, that's how we do it Hey what's up guys john cochran here in today is system Saturday day that I you a system that I use my business andyou can rip off duplicate using your own local market now on today system Saturday what we're gonna talkabout is how to calculate your listing price whenever you're getting ready to sell aparticular property now guys whether you are a real estate investor or just a a realtorgoing to be listing a property up onto the marketthis is the most crucial part in my opinion of actually getting a property to sellis coming up with that correct price a year and that the public will buy thatand is very very simple whenever you can really break it down think guys I will tell you this theprice that you bring into the market to it is should be the price that shouldselling for so don't try any of this you know hey if if I if the comps andeverything it's its I'll I'll probably end up getting130 out of it was listed at 140 or 150 and just let the buyer take medown on that guys it does not work we list all of ourproperties for exactly what we get for every singleone of them now the goal on this is to get them into multipleoffers situation and get more for that however but I'm just telling you rightnow that we list our properties for exactly what we want and we don'tpat it up up we don't do any that stuff we list for exactly what we want but howdo you calculate this this listing price to come up with thatmagic figure how do you do that in allcomes down to the very first thing you gonna do and you got a full comparables aroundyour property now when you pull comps or comparables um.
you do this very very simply you want to go anywhere between aquarter mile to a half of a mile around your subject property in a radiussearch particularly you wanna go a quarter milearound your subject property you're also whenyou're pulling comps find out what your value is you're looking for all theseproperties around yours that's sold that's sold with then the past 6 months now why that why do Iwant sold properties within the past sixmonths guy's that is the most accurate way to literally find the valueof your property and you're going on find the value anactor in value over property if you search a mile around yourproperty you know any go back two years market changes so much so you need to be looking for otherproperties that sold within six months of your list date in that the properties or aquarter mile around your subject property that have the similar bedrooms baths and square foot of the property that you're getting readylist this is huge now once you find all the comps once you find all of these comparables andyou find out you know there's you know exact amount of propertiesyou know and that's another thing is that you wanna have anywhere between atleast 2-3 sold comps if it doesn't have two to three sold comps on it guys don't even you shouldn't evenbought a property but you have to have so comparable to go by now when you have the sold comparables and you do the search the searchesalways gonna come straight from the MLS doesn't come from Zillow it doesn't comefrom trulia doesn't come from realtor.
Com it doesn't come from john cochran.
Com it comes straight from the MLS because that's gonna be the mostaccurate data holiness into the MLS will give you a great idea of what other properties a a quarter mile awayfrom your subject property are actually selling for, its gonna tellyou those numbers and how how long days on market, now coming upin calculating your list price, when you're gonna be selling you need that information but let's justreally done this down for you now all you have to do is you just needto identify what retail would be on your particular property thatyou're selling if if was already fixed up if it fix upto the nines what would retail be that's the magic number you gottafind out what retail would be so if you can actually you look at allthese comparables and you come up with a retail figure let's say say one hundred thousanddollars and maybe you're gonna be wholesaling this property of but retailers is one hundred thousanddollars so you're gonna be looking for your target buyer is gonna be realestate investor so when they go that fix up property ifthey sell that property they it's already fixed up they're going to rate a lotfor one hundred thousand dollars right so if your extra strategy is to wholesalethis property you take the retail figure x.
5 = your so in this case it's just 50percent in this case if you identify retailing you're gonna bewholesaling these deals of if you identify retail at one hundredthousand dollars you're gonna be wholesaling these properties upor listing this property for fifty thousand dollars which obviously means you have tobuy a way below or below this fifty thousand dollars inorder to create a spread and that deal and this will give yourwholesaler you know your other real estate investor it will givethem enough skin in the game to where they can make money on thedeal probably somewhere around this your selling for fifty thousand let's justsay you bought it for 45 your selling for fifty thousand you're gonna makefive thousand dollars a wholesale is gonna put or the investors gonna put ah you knowtwenty twenty five thousand dollars in this thing so they got seven grant$72,000 wrapped up in this they're gonna sell for 100 they can make$25,000 on that all day that's the formula.
5 take retail x.
5 equals your list price that if you'regoing to wholesale the deal of now if you're going to prehab that deal the formula is very very similaryou gotta start with your comps you have to start with your comps goquarter mile a way look for the sold properties within six months you need 2-3 comps and they're coming from the MLS sayyou did same exact process you have to identify their retail value first, okay so if you're gonna take a prehab this dealyour gonna make this property rent already a free not everything's gonna me knewwhen it but it's going to me pretty nice you're looking for an average buyer nota buyer to get emotional about what an average buyer somebody that's actuallylooking for a little bit of a deal something a little bit of of that retailback the the formula is very very simply you a takeretail value so you a take the retail value and you times at by.
1 which is 10 percent equals your list price very very simple so if you taking you identify that yourretail value on a prehab is gonna be $100,000 so got one hundred thousand dollars and youtake 10% off on that that means that your last price is goingto be ninety thousand dollars okay so that's a dealthat's the deal it's ten thousand dollars of a retail however when we calculate ourlist price we will never put anything up onto themarket for ninety thousand dollars never okay so in this case we would put thatright up onto the market for $89,900 we always we always always always will round down or something because89.
900 sounds it's not but it sounds a lotcheaper $90,000 very verysimple now if you have a deal that you just rehab this thing I mean this thing is awesome you put all the new doors intothe new group the new Windows you put everything inside the trend the Tile the carpet inside the floor everything they kit everything insidethis thing as new and you rehab this deal you go through the sameexact process you could go when you pull your comps a quartera mile away from the subject property within six months from the MLS in 2-3 sold comps you take the retail value that's exactlywhat you list it for so retail value equals your list price, okay very very simpleso on the same exact situation if you getting your rehab this property you take the retail value let's just saythat it is $100,000 you're gonna listing thatproperty at 100k but where where where Jon list it 99,900because 99,900 sounds way cheaper now let me just cover this for you real quick so why did ah why do we not prices why dowe not pad these is like what I said so at the very beginning in this video Ishared with you you know our list prices are list priceso I why did I not say you know what on this win rehab did that'snice what prices thing at 109,900, 109,900because I'm willing to take 99,000 for butlet just say price in a 109,900 not not not the market super super hotguy's a lot of people do that but let me tell you behind the scenes on what happens ofthat and what buyers actually do so if you take this property and you listed at 109,900 knowing that youwant the 99.
900 figure for that house so the hundredthousand dollars for that house your mind just says will just let them come on and take it down of a list price okay that's where your mind thingshowever what you don't know and what you actually do when you dothat is you missed so many different buyers and you you literally just chop them outthe equation so if a buyer is approved and their approved up to one hundredthousand dollars there never gonna know about this pricebecause they're not gonna be looking at properties for a 109,900 there a prooffor $100,000 that's why we do it that way is becauseyou know if if a buyer right here if they're approved to 90,000 if they approved100,000 they never know about that thing so that's why we don't had any of those in our list price ourlist price is exactly what we want for me that's the formula point a retail x.
5 is your list price ah retail x.
1 or 10 percent of is your prehabing price and retailvalue is you're list price whenever you rehabyour property so guy's like us on Facebook subscribe to ourYouTube channel comment below let me know what you think of these formula I don't know meyo or seventy percent or any that Jaz we don't know any of that stuff we we just makea simple math that it works so comment on this video below, and I'll see you on the next system Saturday.
The pricing of your home must reflect the true market value.
You know today many people have access to a lot of applications that help them see what’s on the market in a particular area, to know the homes that are there and what they’re being sold for, so it’s important that you do a little homework yourself, get informed of the market area where your home is located, find out how much the homes are being sold for in that area, but most importantly here is where you’re agent, your Realtor is so important in helping you get Cash for Home Fast.
You know yourRealtor is very informed of the market area, I mean this is what they do for a living day to day, they will be able to get the home priced right.
Key Things Millennial Home Buyers Must Know
Millennials are a group of individuals born in the 1980s and 1990s and are within the ages of 18 and 36. Also known as generation Y, many are sidelined by tight credit, high student loan debts, and low paying jobs. In fact, until the past few years, these have been the key reasons they were slow to enter the real estate market. Now, they make up well over 30% of new home buyers and that trend should continue going up as they start to mature and pay off existing debt.
Compared to previous generations, such as baby boomers or the silent generation, these younger individuals have a different outlook when it comes to long-term investment, especially owning a home. One thing you can bank on is that Millennials know what they want in a home!
Read on to learn more about millennial home buyers, key characteristics of this generation, as well as a look at their attitude towards real estate investment. If you happen to be a millennial, you will learn how easily it really is to prepare and become a homeowner.
Characteristics of Millennial Home Buyers
These characteristics will help you understand the millennial demographic and tip you off if you are unsure if you are one (between the ages of 18 and 36)....
- 66 percent of millennial home buyers are first time home buyers
- Their median income is approximately $82,000 per year
- 66 percent of these buyers are married couples
- 50 percent of these buyers say that the main reason for buying a house is the desire to own a home
- 20 percent of them previously lived with their parents, relatives, or friends
- 24 percent of them owned a previous residence
- 56 percent of them rented a house or an apartment
Millennial Home Buyers Attitudes Towards Real Estate Investment
- Many millennials want to own homes or invest in real estate. In one of the studies conducted by the National Journal Heartland Monitor, 69 percent of the younger generation in the U.S. generally regard home ownership or real estate investment as a smart and achievable goal.
- Some millennials are scared to own a home because of the upfront costs they are facing. As homes go up in price, so do the costs associated with owning those homes. However, it is not just higher prices that may be putting some of this generation off. The thought of settling in a new place or living in different circumstances also sounds unattractive. Some, therefore, find renting an attractive option because of its affordability and flexibility.
- About 20 percent of the respondents in the U.S. feel that although owning a home is a smart move, this decision is not financially viable for them right now. Of the respondents, there are more minorities who feel their finances probably would not enable them buy a home. All millennial buyers have options so check with a local lender before writing homeownership off as a distant dream.
- Because some millennials are hesitant on home buying or real estate investing, they will continue to rent houses and apartments until their situation changes and they are more comfortable. As their needs change, rent prices will creep up, which will force many to purchase a house. In fact, according to a new study conducted by Choice Home Warranty, 30 percent of millennials plan to buy a house in 5 years’ time.
In a nutshell, whatever challenges you may be facing, buying a home as a millennial is a smart and achievable goal. If it is money that is preventing you from achieving this goal, you need to come up with a strict financial saving plan or find a way to acquire the funds as a gift from a family member. As you would expect, there are always financial institutions that are ready to help millennials get mortgage loans, even those with less than desirable credit scores.
How to Meet Your Home Ownership Needs
- First, you must understand the type of house you want to buy. According to a new study conducted by the National Association of Home Builders, most millennials tend to invest their money in homes that are older, smaller and less expensive. The main reason for this is that many millennials have not accumulated enough wealth to purchase new, bigger or expensive homes.
- You must also figure out things you want in the home. These are basically the things that drive you to buy a home to begin with. According to a survey conducted by Metrostudy, a Houston based national housing research firm, millennial buyers are looking for small but high-quality homes, especially in the suburbs. Some of them also look for homes with flexible space to entertain family and friends rather than larger properties to keep all their "stuff".
- You must know where to find your preferred home. With many agents posting listings on their websites, and via social media, it is very easy for millennials to find what they want before they even view the first property. Because many use their smartphone for home searches, they can quickly and easily search for new listings, get more information about the available inventory, and find details about the owner/home long before they contact a local real estate agent for assistance.
There are many real estate options for millennials right now and this definitely includes their ability to purchase a home. Now that many are settling down and having families, the appeal to own their own home is a strong pull. That is why agents need to market to this demographic. Those that do will benefit from dealing with savvy and knowledgeable consumers who know what they want and have a plan to make it happen.
10 Steps for Staging Your Home on a Budget
That price will reflect the true market value
If your home is sitting way too long on the market, what’s going to happen is that a prospective buyer is going to start to think, hey what’s wrong with this house, why isn’t it selling and these questions are going to really cause traffic to diminish. It’s tough to simply want to Sell My House Fast and expect to have eager buyers wanting to pay Cash for Home Fast too.
Research shows that between the third and sixth week of the marketing process that’s when the most potential buyers are attracted, so it is important that, first your home has the right pricing and second that there is good aggressive marketing behind it.
You want to maximize traffic that’s going to view your home, draw them in to visit the home and put an offer on that home.
As I mentioned earlier, the visual presentation of your home is very very important.
You know first impressions are very very hard to undo so you always want to create the best possible first impression.
For this reason I don’t recommend that you do mobile phone pictures.
Get a realtor who is going todo professional quality pictures.
You know today on search engines when people are looking at multi listing services and they’re viewing the pictures, usually when a picture is presented if it’s of poor quality they’re probably only going to view the first few pictures and they’re gonna move on to the next property, and this is something you don’t want to happen to your property.
Getting good quality pictures will keep them glued to that screen and they can really consider your house the way it should be considered, and actually today even video production is a very important part of the marketing process, so if your realtor is able to produce a video for you, this is ideal.
You know this will really maximize the amount of eyes that will be looking at your property and considering it for the next purchase.
When it comes to marketing your home, gone are the old days of sitting in the backseat of your real estate agents car or following along behind and looking at multi homes.
Today the Internet has changed the whole experience for good.
Today people are on multi listing services, they are also watching videos that are aggressively being marketed through social media, so it is important that you’re estate agent, your Realtor is up-to-date with all the modern modes of marketing, so make sure you make this one of your criteria in choosing your real estate agent.
That way the right kind of marketing will be put forth and experience maximum exposure of your home and really entice those buyers to come and put an offer on your home and get it sold quickly.
If you found this video helpful, please subscribe, we’d love to have you on board with us, we have a lot of helpful videos coming out that will have information that you’ll find useful whether you’re a buyer or you’re interested in selling property.
Also share this with a friend and leave a comment in the comment section, also if you’d like to call me, call me at the number that you see below, I’d love to hear from you and talk property with you, also remember that there is a PDF thereon ‘How to Prepare Your Home for a Successful Sale’, anyway, until next time, all the best!.
Sell My House Fast For Cash – Can I Do That in Chesapeake?
Selling house is a very intricate process that needs a lot of understanding in the field of real estate as well as patience. If you think buying a house is a much difficult process than selling one, you are mistaken. This is because selling a house is an equally complex process, where several factors need to be taken care of at once. Starting with fixing the interiors and exteriors to finding the right buyer who can pay the right price, everything needs to be in order and as preferred for the deal to take place.
An Investment That’s Worth It
The real estate market is one of the most lucrative markets in terms of investment, because the kind of returns that the real estate market is known to give, other investment tools can rarely match. Whether you have an investment property that you want to shell out or want to sell off your current residence, looking for a price higher than the current market price is a common goal for most of the sellers. And, to an extent, this is legitimate as well because the price of the real estate property is going to increase with time anyway.
This gives the feeling to the sellers that their asking price should cover at least the next few years’ going rate. If the property is nicely and centrally located in a popular area, has sufficient space, is well designed, have all the basic amenities in place, is well maintained, and all the paper works are in order, asking for the higher price shouldn’t pose any problem during the selling process. In popular areas, there is always a high demand, and thus, finding the right buyer who can afford to pay a bit of a markup over the going rate should not be a problem.
Why You Should Look For Higher Price
Looking for a higher price is a common thing in the real estate market, whether it is the real estate agent or firm who is doing the selling on your behalf or is it the seller himself. To an extent, it is this practice of increasing the selling price considerably and frequently for just about every sale and every property is what has led to an overall boom in the real estate market. The reason why you should look for a higher price too is that it not only helps get you better returns on your investment but also helps sellers to pay for the ad hoc expenses during selling without having to compromise on their original asking price.
Things To Do To Bag A Higher Price
Even if your house is situated in a nice area, it is not always possible to bag a good price, because of buyers apart from considering the area, also considers many other factors. How is the house maintained? What are the problems that the house is facing currently? What are the fixes that need to be made? What fixtures need immediate attention? What would be the cost to repair and fix the problems existing in the house? Does the house need a paint job? And, so on.
These and similar factors would be considered by the buyers, and if your house is not well maintained, then forget about asking for the higher price than your house is worth, you would face a tough time asking for the current market price as well. This is because the aim of the buyers would be to cut out the repairing and fixing costs of the house from the asking price. To ensure that you are able to bag a higher price than your home is worth without having to struggle too hard, you need to take care of several factors –
- If your house is old and it shows, do a paint job on the interior and the exterior to give it a new and fresh look. The idea is to make your house look attractive, both from the inside as well as outside to make the buyers with deep pockets fall in love with your property.
- Check for the fixes to be made in your house, whether it is your driveway that needs to be maintained, garden that needs to be mowed, washroom fixtures that need to be replaced, kitchen fixtures that need to be repaired or replaced, any electrical or water leakage that needs to be taken care of, and so on. Make sure that the house is in ready to move in shape so that the buyer does not find any fault or reason to compel you to drop the price.
- Take attractive pictures of your property and post it on the internet on real estate buying and selling sites. Good high-quality pictures would attract more buyers, and more buyers would automatically help in increasing the chances of getting the right buyer.
- Negotiate smartly and smoothly whether it is a real estate agent or the buyers. Do not sound or look like you need to sell the house urgently or you are in dire need of the money you will get by selling the house, even if that just might be the case. Desperation is an easy giveaway, and the smart buyers would easily read between the lines and try to take advantage of your financial situation to lower the asking price.
These are the few things you should keep in mind and do to get a higher price than your property is worth. It would need some research, effort, money, and time to get things in order, but it would be worth it. These few changes can drastically increase the price of the property.
Do Your Research
Before you go in to sell your property, you need to do your research about the current market price in your area. What are the prices other similar houses in your area are bagging, what the asking prices for similar properties in your area are showing online, what are the advantages that your house has over other properties that can help bag you a higher price, and so on. Researching would help you give the knowledge about the property and also help you negotiate well during interaction with the agent or the buyer.
Also, make sure that all your paperwork is in order, all financial obligations over the house are cleared, and all the dues are paid such as house tax, electricity bills, and so on. If there are any legal disputes over the property, make sure to get rid of them before you considering selling the property. You should also consult with the real estate agents and firms in case you have any doubts about the going rates, and can ask them about what can be done to get a better price.
How To Market Your Property To Attract Right Buyers
Marketing needs to be done in the right way to attract more buyers. In the otherwise case, even if your house is well maintained and in good condition, there would be lesser numbers of buyers coming up and showing interest. You need to market your property well to reach out to potential buyers who can afford to pay the price you are looking for.
Most of all, when you are looking for a higher price than what your house is worth; you need to have a lot of patience. It will take a considerable amount of time and effort, but the wait would be worth it. Sometimes finding the higher price is not a difficult task, and sometimes it can take longer. In any case, you need to stick to your price once decided to be able to get it, even if it takes a long time.
Images source: Google, copyright-free image under Creative Commons License
Premium Image source: Bigstockphoto
How to Buy a House Easily
This is a very common situation, these days; and it will become an epidemic.
There are millions of adjustable rate and Option Adjustable rate mortgages that will be "resetting" to a normal interest rate as their "teaser rates" expire over the next couple of years.
This will put severe financial pressure on families who were able to buy their homes only because of those artificially low payments in the first place.
Many will be unable to refinance or even sell their homes because of the looming glut of homes on the market and the stalling of price appreciation.
Many of these people have little or even negative equity in their homes, which compounds their difficulties as realtors will not list their homes, as they see no way the home owner can pay their commissions.
These people also have little to no flexibility to reduce the price of their properties because the mortgage payoff and the closing costs will require them to bring cash to the closing to buy their way out of their homes.
Also, these homeowners will have a diminished fervor to stick it out through the hard times just around the corner if they have no equity, abandoning their homes and adding to the greater problem.
The ultimate nightmare is for people in this situation to be forced to sell their homes for financial reasons. They are headed straight to financial ruin; bankruptcy, foreclosure or both.
Selling a house is a Marketing problem. If I recall from Marketing 101, a product will be successfully sold when you position it as the most competitive product in front of the largest possible market. Painting the porch is not going to make your house the most competitive; everyone else is painting their porch too.
What if you could offer your house for sale and the buyer did not have to qualify for a new mortgage, do you think that would make your house stand out from the rest of the competition? This one change would also double or triple the size of your potential market of buyers. There is a "shadow market" of people who would love to buy a house like yours only they will not or cannot go through the "inquisition" of being qualified for a bank mortgage. These people include small business owners, self employed professionals, including real estate investors; foreigners and, yes, those with stinky credit!
They have the cash to put down and the ability to carry the payments, they just don't want to hassle getting a mortgage and they will be very grateful to be given the chance to buy a property with no bank involvement. How grateful? We have found that they will jump at the opportunity, pay 15-30% more than the appraised price of the property and will also pay a higher monthly payment as well, which can spell P R O F I T in addition to a quick sale at or above market value. There is only one way that will allow you to sell your home without paying off the mortgage and that is with a properly structured land trust. The trust will prevent the bank from foreclosing on your mortgage for violating the due on sale clause.
An added bonus is that when you sell the property in a land trust, there is no tax due on the gain; especially important if it is an investment property or a residence that has appreciated beyond the statutory exclusion of $250 or $500,000. Now, you can sell your property quickly, take a nice down payment, receive hassle free monthly payments; in excess of your mortgage payments for years and possibly another lump of cash when the buyer sells the property or refinances your mortgage. I say, "hassle free" payments because you will have no tenant, toilet or trash responsibilities to the new buyer. You don't call the bank that holds the title to your car if your water pump fails, do you? This has been the way out for many of our clients who were trapped in their homes and can work for you as well. Discuss this option with your realtor or lawyer.