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Tag Archives: real estate comps

Selling Your Home: Simple Strategies to Get the Right Price

tips for selling your home

There are several smart things that home sellers can do to get the price they ask for their home. If you’re in the market for selling, here’s what you need to know. Research Comps Homes that are selling for similar prices in the area are a good place to start when selling your home. These are sometimes referred to as “comps” or “comparable” because they reflect houses similar to yours or homes that share some characteristic or trait with yours, even if that characteristic is only  location. For example, a 1,200 sq-foot home that has recently been made over with an attached garage might be listed at roughly the same price as a similar-sized home in the same neighborhood. The fact that remodeling has been done might not make that big of a difference, unless the home was originally worth less than what other homes in the neighborhood were when you bought it. Sometimes, homes that are significantly smaller, or not as attractive, won’t sell for the same price as other homes in the neighborhood. What a comparable will show you is what your home might be worth, based on other similar homes near you, not what your home is ...

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Don’t Be Afraid Of What You Don’t Understand

understanding rental property loans

I’m going to go out on a limb here and say that everyone is good at something. Maybe it’s a skill picked up over time or with experience. Maybe we learned it in school. Maybe our parents taught us. Brain surgeons are good at neurology. Crackheads are good at finding ways to obtain crack. We all have our strengths and often don’t stray outside of the comfort zone. Today, I’ll tell you a story of how our comfort zone almost cost us thousands of dollars, all because we were afraid of what we didn’t understand. Fourplex Drama I won’t say we are skilled real estate investors, but with two properties under our belts, we felt OK with branching into a multi-family property. Everything was going almost too smoothly with the process. Things I thought might be a problem were non-issues including repairs we wanted the seller to make,  our credit card churning history and my change in employment status. What did become a huge issue was something far beyond our control. There were no comps for the type of property we were trying to buy. What Does No Comps Mean? In order to get a mortgage, you have to have ...

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