How to Avoid Real Estate Agents and Buy a Home the High Tech Way – Buying real estate the high-tech way isn’t a tutorial in how to avoid real estate agents. The fact is that more than 80 percent of all homes sold are listing in local MLS systems online. This article is to help you to use technology and tech-savvy real estate professionals to find your perfect home. There are online tools you may not be aware of. (The Balance)
Speaking of Real Estate, how could someone living in New York, with it’s high priced real estate retire at 28… with $2 million no less! Learn how she saved 70% of her income. (Business Insider)
Real estate seller’s market
Listed… Sold… in 36 days! That the perfect recipe for a seller’s market. Hot markets. Rising interest. Nervous buyers. If you are thinking of selling, now might be an excellent opportunity.
The housing market is heating up in some parts of the country. In Seattle, specifically, the average time a house stays on the market is 36 days. That’s almost one-third the national average of 90 days. Seattle’s not alone. In Dallas-Ft. Worth, it’s 42 days, according to Realtor.com. Combine that with the prospect of higher-priced mortgages thanks to the Federal Reserve’s decision to begin lifting interest rates and it makes buyers a little more motivated. (Time)
Don’t tap your retirement account
6 Sneaky Tips for Buying a Luxury Home Without Wads of Cash – The rich might be a little different from you and me. But that doesn’t mean that an average buyer should be shut out of the high-end housing market. A luxurious place can be within reach, if you make smart choices before you start bidding. The tips in the article all make logical sense. HOWEVER, tip #5 — borrow from your retirement funds — comes with a warning.
Your retirement account are just that — money for your retirement. I now it’s tempting. The money is readily available. But this money should not be thought of as a down payment real estate fund. Although the government allows you to borrow up to 50% of the money in your account, up to a maximum of $50,000, I strongly suggest you try to leave that money alone. The longer it has to compound and grow, the easier your retirement will be.
You might be thinking that your money is equally well utilized in your home as it would be in the stock market, think again. Real estate historically grows are 3%. The S&P 500 has grown nearly 10% over the past 50 years (including dividends.)
Yes, the author of this article also cautions against this; I’m just a bit off-put that she elected to include this tip as one of her suggestions. I think the other five sneaky tips are great. If you are looking to buy a new house, and want to buy more than you think you can, check this out: realtor.com.
Offering above the asking price
10 tips for selecting a real estate agent. Believe me, who you select actually matters. You might think that anyone can just show you around. They do much more than this.
Years ago, my realtor suggested that I bid on a house PLUS give the seller the exact amount I’d be willing to buy the house for? Why would the seller accept my lower bid? That didn’t work out well for me.
Recently a friend’s realtor suggest that they bid $5K OVER asking provided that the seller throws in the appliances — which were worth over $10K — in exchange for accepting the offer before the have an open house. It worked! My friend was able to buy the house without getting into a bidding war.
The 10 hottest U.S. real estate markets in 2017
- Portland, Oregon: 5.2 percent. …
- Salt Lake City: 4.3 percent. …
- Orlando, Florida: 5.7 percent. …
- Seattle: 5.6 percent. …
- Nashville, Tennessee: 4.3 percent
See the whole list here: CBS News
The 25 most expensive U.S. real estate markets
- Cambridge, Massachusetts
- Calabasas, California
- Bellevue, Washington
- Westport, Connecticut
- Honolulu, Hawaii
See the whole list here: Business Insider
image credit: Flickr/Brandon Hunt