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How Do I REALLY Sell My House Fast in Chesapeake?

Today we’re gonna talk about the absolute best time to sell a house.

So when is the best time to sell a property?

Well, the truth is it depends.

If you bought it the right way, then anytime should be the right time.

However, will there be times in the market that are more advantageous than others? Try this one for a minute: Consumers and investors usually follow separate and opposite tracks.

So when all the consumers are buying up real estate, do you know what investors are typically doing? That’s when they’re selling! When everyone is in this buyer’s market, that’s when you can usually sell for the highest price and that’s when investors wanna trade into different properties.

How to Buy a House Easily

But the opposite is also true.

When all of the consumers are dumping and saying “The sky is falling and it’s the worst investment that we saw in ’07 and 2008 and 9 and 10!”.

What were investors like me doing? We’re buying up everything like crazy! WarrenBuffett – he had his own hedge fund at the time.

He was buying 30.

40,000 homes per-year into the markets that actually were totally decimated.

Sell House

So, best time to sell a home is really at the market high before it falls out is when you’re going to really cash in on top dollar.

But if your strategy requires that, then you may have in fact, the WRONG strategy.

Because if the market is ever turning and moving it away that it’s not advantageous for you, you should be able to continue holding that home, cash flowing it, and continuing to make money on it.

- [Announcer] Welcometo Homebuyer's School brought to you by Brookfield Residential.

- Hi everyone, andwelcome to another episode of Homebuyer's school.

Today I'm joined by Kevin French with ReMax Realty and thequestion we're going to answer is can I sell my home without a realtor? So Kevin, obviously you're a realtor.

Maybe a little biased answer but is it possible to sell your home without a realtor? - Absolutely.

It's typically better to do that in a seller's market,instead of a buyer's.

Currently we're in a buyer's market so the advantages weighingon the buyer's side, it's much more difficult to sell so if you're not aware of how to properly market your property, price the property, then those things are going to work againstyou, especially right now more than ever.

- I guess you need asmany resources as you can to help you sell your home.

- Absolutely.

- Okay and if I were totake that route though, if I wanted to sell the house on my own, what are some of the steps Iwould do to accomplish that? - So there's multiple site,obviously you can find things such as Kijiji or Forsalebyowner and you can list it on those, or you can look for assistance through Property Guys, ComFree.

Property Guys is a private system.

Your property wouldn'tbe on the MLS system but most people are aware that it exists so they can search thereif they are looking for a property.

And then with the ComFree option, the property would be on MLS so you take a package that they offer, and then you would listthe property with them.

They would coordinatea portion of the things for you and then it would be on the MLS and then you would help with the showings and organize all that, deal directly with whoever'slooking to purchase, whether it's a realtoror a single individual.

And then once an offer is received, then that would be part on the owner, who's selling the property themselves to set a price they are comfortable with but they would have a bit of assistance from ComFree.

- Okay, but you're takingcare of everything though.

Like booking those appointments or people calling youto say hey, I want to come visit your home.

- Making sure the home is show ready.

Making sure that it's showingin the best possible way.

Making sure that you'retaking care of everything that you want to make surethat you're taking care of.

Those little small detailsmake the biggest difference.

The biggest thing thatneeds to be considered is pricing.

I often list a property,I go in and let's say the property is worth499,900 and the person happened to have purchasedit in peak market in 2014, so they owe 520.

So now all of a suddenthey want to list for 549.

So they tell me if I list at 549, then we'll negotiate down to540 and then after the fees we'll be somewhere in the ballpark of paying it off.

Well that doesn't change market value.

So you can't really do that.

So what happens when you leave the sale in the hands of the person trying to sell the property and they're trying to do it on their own,they may take that route where they're trying to look for, well what are the expensesthat I need to cover and then that's what we'll price the home which has nothing to do with market value.

- So you're saying you mightleave some money off the table? - Well, the property, if you do that, if you overprice it, it's just going to sit on the market longerand then it's going to become stigmatized and then when it does actually sell, which might be years later or you might choose to list with anagent shortly after, being unsuccessful trying it on your own, then the property would sell at fair market valuebut now people are going to see that in the history.

It sat on the market for three months, or it sat on the marketfor a year, who knows? - When it could have sold-- - When it could have sold much sooner and probably for more money.

- Anything else to add? - No.

- Awesome, well thank you very much Kevin.

That's it for our show today.

Thank you very much for joining us and we'll catch you next time.

- [Announcer] That's another edition of Homebuyer's School.

Tune in next time for moreexpert tips and tricks and visit homebuyersschool.

Ca to bring you one step closer to finding your dream home.

As with everything, it would be great if you like and share our videos.

Also, please let us know if you have any home buying questionsyou want us to answer.

This is one of the reasons why one of my many rules in real estate is that I buy below the median.

Why do I do that on my short-term buy and holds? Because if the market ever turns AGAINST me, I’m gonna keep on cash flowing that property and those lower-priced homes – they don’t lose value like a million ora half a million dollar home does.

So Warren Buffett has this principle, right?He calls it the margin of risk.

And really when you talk about the best time to sella house, I wanna draw attention to how Warren Buffett has become a billionaire and the, one of the greatest philanthropist of our day and age; all based on a very simple principle you may have heard called Buy Low, Sell High, okay?

Warren is a really great example if you read his book Snowball, of an individual that really live his principles. He must have understood VirginiaInvesting.com!

He says if you wanna reduce your risk, you gotta increase your margin of profitability.

So it’s real simple:If you buy a house as an investor, you buy it with a lot of equity ’cause if you do, whether it’s the wrong or right time to sell, you can sell profitably! Understanding this principle is key for this next part: If you buy the right house, you can sell it anytime for great profit.

I’ve got an example here of the house that I’ve just recently sold.

This is a house that I sold and purchased in ’05 and sold in 2015.

So I’ve held onto this house for 10 years and here’s some background on this house: I actually leveraged a partner’s money and a partner’s credit to buy this house.

So how much money was I into this deal? I wasn’t in it at all.

And I used my staff and my team and we basically lined it up.

Now I have here the HUD.

This is actually the closing documents on selling this house where I received as you can see here a $38,986check.

But here’s the summary on this spread that I wanna point out.

I purchased this house in 2005 and we bought it for $109,000 and a down payment of 10% was $1,069.

My expenses over the life of holding this was 70,000 but my income was a 107.

What’s the difference? Roughly $37,000 that we got to make in cash flow and to down payments, deposits, along the way.

Then when we sold the house, we collected a check for $28,000 that me and my partner got to split afterI paid back my partner the $9,000 that he put in.

So he put in the money, he got paid back.

So basically there’s 28,000 of profits to split, there’s 37,000 that was made along the way, 37 and 28 is roughly $65,000, okay? So this tiny little house – 4 bedroom, 1 and a half bath, did a good job taking care of me.

Now let’s just for a moment take a look at the ROI.

I could’ve sold this house at any time but why did I sell it now? Well, it’s been a cash cow.

The little bit out, how do I know it’s a cash cow? For a moment, take a look at the ROI! We put in $9,000 but look at what we got out? $65,000! That’s a 720%increase.

Now, divide that over holding the home for10 years and that is 72% a year on your money.

Now, my business partner and I made 72% a year based on whose money? His money! He’s.

he and I get to split the ROI 36% each.

But let me ask you, if I put no money in, what is my real net ROI? It’s infinite! Think about it.

I didn’t put anything in, but I got all of that money coming back out to me.

So this is an example of ‘I could’ve sold this house at any time.

It’s been cash flow cowing.

Why did I really sell it?’.

Because the market was right! What do you do when the market’s wrong? Just keep making money and keep cash flowing! When you do real estate the right way, it can always be a great time to buy, hold, or sell.

which is why I love short-term buy and hold strategies ’cause I get to make my money along the way.

I hope you’ve enjoyed today’s video on the best time to sell your house.

Put some comments below! We’d love to respond and give you the help that you need as we work on turning you into a brilliant, bright, and successful real estate investor.

Property Management Near Me

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.

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  • 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. 

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How Can I Sell My House Fast?

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