Have You Hired the Wrong Agent?

Just the title of this article will make professional real estate agents cringe because they have heard it before. While most agents offer strong and vigorous representation, occasionally sellers run into one that just isn’t meeting the expectations. The good news is that even if you’ve signed a contract with one of these agents, you may not be stuck.

The first step is to realize that you picked the wrong agent. Ask yourself:

· Is my agent properly marketing my home for sale?

o Did they use professional photographers, videographers or drone providers? o Is my home listed on all the public search websites?

o Are they holding open houses for the public and real estate agent showcase?

· Did my agent offer a complete market analysis?

o Did you see comparable properties that sold recently?

o Are you priced competitively?

· Does your agent respond quickly to other agents and to you? ·

How often do you hear from your agent? A couple of times a week should be the minimum.

· Do you get quick feedback after a showing? Most importantly, do you still have questions that are still unanswered by your agent?

If any of these questions sound familiar, you may have hired the wrong agent. Good news though, you have options. Immediately contact the managing broker for your agent – they can be found in the office where your agent works. Explain your concerns and ask for help. Your contract is with the brokerage, and not the specific agent. They may reassign your listing to another agent or may cancel if it makes sense.

If you suspect you’ve hired the wrong agent, talk to the broker and resolve the issue as quickly as possible. Wasting time can only cost you money.

Solar Rings – Cheap and Eco-Friendly Pool Heating

Everyone is looking for ways to save on energy costs. Many people have had to change the way they behave – larger laundry loads, fewer lights in the evening, fans vs air conditioning – and even more have looked to alternative options, such as solar. These methods are not always easy or inexpensive, at least not up front. The great news is that there is an inexpensive and eco-friendly way to heat your pool this summer and save hundreds of dollars in the process by using solar pool rings.

Solar pool rings are floating devices that contain UV-resistant vinyl material that traps the heat to warm the pool without using the heater. The rings are made of 2 layers. The top layer guides the sun to the lower layer which converts the rays to heat. Not only do these rings effectively trap and disperse heat to the water, but they also reduce evaporation, saving money on water bills.

Solar pool rings can also be effective as barriers against backyard debris, which can throw the chemical balance off. Solar pool rings typically come in sets of 6 and most pools can be covered for less than about $400. They are simple to inflate/deflate for storage and are suitable for all pool types. While solar rings will never heat a pool as quickly as a pool heater, with regular use and plenty of sunshine, these devices save money and extend the pool season in most climates.

Basics of a Successful 1031 Exchange

A 1031 Exchange is a potential option for investors who may be interested in deferring taxes when selling an investment property. By reinvesting the proceeds into another investment property, investors have the opportunity to take advantage of real estate market opportunities without having to pay taxes on their profits immediately. It is important to note, however, that this strategy comes with strict rules that must be followed carefully in order to ensure a successful exchange.

In order to be considered for a 1031 Exchange, the properties involved may need to be investments and not for personal use. Additionally, it is generally required that the properties be like-kind, although they do not have to be exactly identical.

There are many different types of investments that could potentially qualify for a 1031 Exchange. For instance, an investor may choose to exchange a multi-family apartment complex for a shopping center, or a commercial office building for a rental property. Ultimately, the specific circumstances of each investor's situation will determine whether or not a 1031 Exchange is the right choice.

The timing of a 1031 Exchange is crucial, and investors should aim to identify a replacement property within 45 days of selling the original property, with the exchange being completed within 180 days of the sale.

Working with experienced real estate professionals who have knowledge and expertise in 1031 Exchange transactions can be helpful, as mistakes can be costly if the rules are not followed precisely. While a 1031 Exchange can be a valuable strategy for investors, it is important to keep in mind that individual circumstances can vary, and it may be wise to seek personalized tax advice from a Certified Public Accountant (CPA) or tax advisor to determine if this strategy is suitable for a particular investor.

Click on the link below if your interested in investing.

Is This a “Normal” Real Estate Market Yet?

The events of the last few years disrupted almost every facet of our lives and the real estate market was no exception. Buyers and sellers across the country have experienced a market more volatile and unpredictable and are wondering if we will ever return to normal? Will the tougher economic times ahead help balance the real estate market?

As interest rates rise to slow the economy, the housing market is feeling the shift. Gone are the cheap loans and quick home sales. Today’s buyers have the luxury of being choosier and sellers must again offer their homes at a reasonable price in good condition. While this “feels” like a normal market condition, is it?

The essence of a “normal” real estate market would be predictability and confidence, but we are not seeing this yet. True, the slowing economy and rising interest rates have moved us away from the frantic pace of the past few years, but experts question whether this means a traditional “buyers’ market.”

The pandemic changed the way we work, and where, also. People around the world are moving. With remote working a normal occurrence, people can live anywhere they want. Cities are emptying out and some states are seeing an influx of new residents anxious to avoid high-tax states.

With all these added elements, the real estate market may not return to the “normal”, more predictable patterns we’re accustomed to for years, maybe never. For consumers, the most important thing is to make the right decision for their families. There are opportunities in every market, even if it doesn’t feel “normal.”

FICO Shock? Your Lender Can Help with a Rapid Rescore

If you’re ready to buy a new home, you know that a good FICO score is critical to the process. Your FICO affects not just your ability to buy a new home, but the interest rate and fees you’ll pay for the new loan. Often, buyers are shocked to realize their credit score is not as high as they thought. Even borrowers who always pay their bills on time can be surprised by a lower FICO score when they apply for a loan. Fortunately, your lender can help with a rapid rescore process.

A rapid rescore is initiated by your lender to boost your FICO in days. Most lenders offer this service and will start by reviewing your credit report with you. Lenders use what’s known as the “middle score,” in determining risk. There are three credit bureaus – Transunion, Equifax, and Experian – and they each calculate your score a little differently. The middle score is used for most home loans as your FICO.

Your lender has a program which can estimate your rescore based on removing false reporting or lowering the balance on a credit card. Even paying off one card can raise your score by 20+ points, enough to make a huge difference in your mortgage interest rate. Once the steps are determined and taken, they then request the credit bureaus to verify the report. This takes a few days. Then the new score will be available to the lender to use for your loan.

If you are considering a new home loan, it’s important to know your credit score ahead of time, when you can still correct mistakes. But, if you are already in the process, your lender may be able to use the rapid rescore process to quickly increase your score and offer you a better loan.

2023 Market Predictions

The real estate industry is in for a wild ride over the next year, according to the Realtor.com's 2023 Housing Market Predications Report. This forecast predicts an overall positive outlook with ongoing growth, but it also acknowledges that several regional markets are more volatile than others and may not experience consistent gains.

The report notes that there are some headwinds to sustained growth, particularly in regions affected by the pandemic and its economic fallout. Tightening credit conditions, an already low inventory of homes for sale, and historically high lumber costs may all put pressure on affordability and slow the housing market's progress.

The good news is that many markets have been resilient and there are signs of optimism as the economy recovers. Realtor.com expects that home prices and sales activity will continue to rise in most markets, albeit at a slower pace. Affordability is projected to remain a challenge for some buyers, however, as potential buyers may have difficulty securing financing.

The report also predicts an increase in rental activity over the next year as renters take advantage of more affordable housing options and the flexibility that comes with not having to commit to a longer-term mortgage agreement. This could spell good news for investors looking to capitalize on these shifting trends.

Overall, the 2023 National Housing Forecast predicts a continued rise in housing prices, though certain regional markets may be more volatile than others. It also forecasts an increase in rental activity as renters take advantage of the flexibility that comes with renting. All of this suggests a vibrant and dynamic real estate market going into 2023, so it’s important to stay informed and up-to-date with the latest trends.

No matter where you are in your real estate journey, it’s important to stay abreast of the fluctuating market conditions. By doing so, you can ensure that you’re making informed decisions and leveraging the best opportunities available to you. With a comprehensive understanding of the current market conditions and the changing trends, you can make sure that you’re making the most of your investments and positioning yourself for success.

6 Factors That Could Damage Your Credit Score

Having good credit is essential for a number of aspects of your life, ranging from the interest rate on a car loan or credit card to background checks for employment. Poor credit can be incredibly expensive, costing you thousands of dollars in higher interest rates over the course of a home loan. Fortunately, with proper care and attention paid to your finances, it is possible to maintain a good credit rating.

Here are six factors that could damage your credit score:

1. Not paying your bills on time - Bills not paid within 30 days can be reported to the credit bureaus.

2. Utilizing all of your available credit on credit cards - It is important to not max out your credit cards without a plan to pay them off.

3. Not having a diverse mix of credit - Having different types of credit, such as car loans and revolving credit, could help improve your score.

4. Applying for too much credit - Multiple applications for credit cards in a short period of time can be a bad sign.

5. Not using credit at all - You must show that you can responsibly use and manage credit in order to maintain a good score. 6. Closing credit cards - Keeping long-term accounts open is important, as closing them removes the positive history from your report.

Good credit is especially essential when searching for a new home or home loan. Having a good credit score can make the difference between having your loan accepted and being declined. Poor credit is preventable if you pay attention to the above mentioned criteria, so be sure to stay on top of your finances to ensure success.

It’s Still a Great Time to Sell

Sellers all over the country are confused and worried they may have missed the best time to sell their home. Prices are dropping, mortgage rates are rising, and the pace has slowed but the impact on any individual seller is unclear.

While the days of any home selling for any price are behind us, the current housing market is still strong. The biggest hurdle for sellers is to avoid the feeling that they missed their chance to get top dollar. Yet, many times the seller intends to buy again also; so while they may sell their home a little lower, they will also buy the new home a little lower as well. ABCs of Success The

ABCs to a successful sale are not complicated. They are the basics of home selling, but if followed, it will ensure a timely and profitable home sale.

A) Appreciation – When sellers hear this term, they normally think of the value of the home. During a challenging market, this kind of appreciation is to appreciate every buyer who wants to come by and every offer you receive; take them seriously.

B) Give in, Don’t Dig in – Along with appreciation for offers, view all the terms in the light of where you can give in or compromise. Be easy to work with and be reasonable.

C) Stop Comparing the House Next Door – Try not to be discouraged or angry if other homes are selling faster. You don’t really know the reason; try to stay patient.

Buyers are excited about the slower market. This means that buyers are still buying. Sellers who get back to the basic ABCs can be successful and achieve their selling goals.

Design Trends for 2023 – More is Everything

A common regret around taking down the holiday decorations is how bare the home looks suddenly. Fortunately for anyone ready to upgrade their design in 2023, new trends are offering more comfort and coziness than we’ve seen lately.

For the past few years, home designers have created a blend of minimalism and simplicity in their home styles. This style involves removing anything from the space that is not necessary for function or lifestyle. The common phrase, “does it spark joy,” is a new mantra for homeowners hoping to eliminate clutter from their homes.

As the new year approaches, this mindset has been thrown out the window. Maximalism is the new theme. Color and patterns, textures, and excess have replaced the sleek lines and neutral colors of minimalist design. Home décor trends now invite the consumer to play with bold colors and contrasting patterns and shapes. Almost anything goes.

It’s important to note that this is not an invitation for clutter. A perusal of home magazines and design books emphasizing the latest “boho” style, clearly shows a method to the design. The furnishings are functional and comfortable. Color palettes are curated for harmony and mood. While this is a great time to experiment, to avoid creating a hodge-podge of design, thought is more important than ever.

2023 is almost here and with it a fresh approach to décor. Forget the minimalist style of the past and embrace maximalism; with all the print, color, and excitement it brings to the home.

How to Use Comps to Price Your Home Correctly

The most important aspect of listing your home for sales is the asking price. Unlike many other items we purchase, home prices are based on what a willing and able buyer would pay for the property. Sounds complicated, right? This is why real estate agents bring comps ( short for comparable properties) information with them to the discussion. Yet are you using the right comps to successfully sell your home? The idea is to gather information about comparable properties that have sold recently that are similar to your own. The goal is to compare apples to apples. In other words, the properties should be as close to the subject home as possible. This includes things like:

· Location – how far is the property from yours.

· Size – square footage is an important aspect of value.

· Number of bedrooms/bathrooms – even if the square footage is close, the number of bedrooms and bathrooms can have a large effect on price.

· Style, view, street, yard – even the exact same floorplan can have vastly different value based on the street it’s on or the view. Size of the yard and privacy are also critical components of value.

· Amenities – private or community pools and other amenities can affect value as well.

Your agent will bring recent sales for homes that compare to yours. As you look through these listings, you can add or subtract values based on the differences. This is the same process an appraiser will use to approve the loan. While this is more of an art than a science, the right comps can help you properly price your home for a smooth sale.