3 Must-Do’s When Selling Your House in 2024

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.1. Price Your Home Right The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today. Hannah Jones, Economic Research Analyst for Realtor.com, explains:“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.2. Keep Your Emotions in CheckToday, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below): This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.For some homeowners, that makes it even tougher to separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind.3. Stage Your Home Properly While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. That’s why it’s so important to make sure you focus on your home’s first impression, so it appeals to as many buyers as possible. Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”A real estate professional can help you with expertise on getting your house ready to sell.Bottom LineIf you’re considering selling your house, reach out to a local real estate professional to help you navigate the process while prioritizing these must-do’s.

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The Pros and Cons of Home Warranties: Are They Worth Your Investment?

  Transcript -  When it comes to homeownership, one topic that often arises is whether to invest in a home warranty. For those unfamiliar with the concept, a home warranty is essentially a service contract that covers the repair or replacement of major systems and appliances in your home. To shed light on this subject, Joey Blanco, a real estate expert from RWB Realty Group, recently shared his insights in a YouTube video. Let's delve into the pros and cons of home warranties, as discussed by Joey Blanco. Understanding Home Warranties Before diving into the pros and cons, it's essential to understand what a home warranty entails. Joey Blanco describes a home warranty as an insurance policy that covers specific items in your home. Typically, it includes appliances like your refrigerator, dishwasher, oven, hot water heater, and even air conditioning systems. Some home warranties may extend to limited coverage on your roof, but it's crucial to carefully read the fine print to understand precisely what's covered. The Cost of Home Warranties Joey Blanco highlights that the cost of home warranties can vary widely. You might opt for a basic plan, which generally costs around $550, or go for more comprehensive coverage in Platinum-tier plans that can run up to $1,000 per year. These higher-tier plans may include additional items like your roof. The key is to assess your specific needs and choose a plan that aligns with them. The Pros of Home Warranties 1. **Peace of Mind**: One significant advantage of a home warranty is the peace of mind it offers. Knowing that your essential home systems and appliances are covered can alleviate stress when unexpected issues arise. 2. **Predictable Costs**: Home warranties provide a level of predictability in your homeownership expenses. With a fixed annual fee, you won't be caught off guard by sudden repair or replacement costs. 3. **Convenience**: When a covered item breaks down, you can contact the warranty provider, and they will arrange for a service technician to repair or replace the item. This convenience can save you time and effort. The Cons of Home Warranties 1. **Fine Print and Exclusions**: As Joey Blanco emphasizes, reading the contract and fine print is crucial. Home warranty contracts can be lengthy and contain exclusions that may surprise you. For instance, they often do not cover damage caused by hail or wind—items that your regular homeowner's insurance might cover. 2. **Claims Process**: Joey recounts personal experiences where making claims with home warranties became a nightmare. Delays in repairs and denials of claims can be frustrating, leaving homeowners without functioning appliances for extended periods. 3. **Subjective Denials**: Home warranty companies often have broad and subjective criteria for denying claims. Anything from improper installation to unusual wear and tear can be used as grounds for rejection. My Opinion Joey Blanco, based on his experiences, is not a fan of home warranties. He suggests alternatives, such as taking the credit offered for a home warranty and putting it into your savings account. Having an emergency fund with three to six months' worth of living expenses can serve as your own "warranty" when unexpected repairs are needed. Making an Informed Decision In conclusion, the decision to invest in a home warranty should be made after careful consideration. While these warranties offer peace of mind and convenience, the fine print and potential claim challenges are essential factors to weigh. Joey Blanco's advice to create your own financial safety net is worth considering for those who prefer more control over their homeownership expenses. In the end, the choice of whether home warranties are worth the investment depends on your individual circumstances and risk tolerance.  

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Master the Flip: Secrets to Spotting Top-Quality House Flipping Work!

When assessing the quality of work in house flipping, several dimensions come into play. This aspect is crucial as it directly impacts the value of the property, the safety of future inhabitants, and the reputation of the flipper. Here's a deep dive into what constitutes quality work in house flipping and how to assess it: 1. Attention to Detail: Good house flippers pay close attention to the details. This means not only focusing on visible upgrades and finishes but also ensuring that all elements of the home, including those that are not immediately obvious, are addressed. Quality work is evident in the precision of finishes, the alignment of tiles, the smooth operation of fittings, and the overall aesthetic coherence of the space. Attention to detail prevents minor issues that could later detract from the home's value or lead to bigger problems. 2. Use of Materials: The materials used in a flip can significantly affect both the cost and the outcome of the project. Quality flippers know where to invest in high-quality materials and where cost-effective alternatives are acceptable. They choose durable, appealing, and appropriate materials for each aspect of the home. For instance, using a more durable paint in high-traffic areas or water-resistant materials in bathrooms. The use of inferior materials might save money in the short term but can lead to deterioration, affecting the home's value and safety. 3. Craftsmanship: The skill and expertise of the individuals carrying out the renovations are fundamental. Good craftsmanship is seen in the seamless installation of components, the sturdy construction of additions, and the flawless finish of surfaces. Experienced tradespeople bring knowledge of techniques and solutions that prevent future problems and enhance the home's functionality and appearance. 4. Design and Aesthetics: Quality of work also extends to the design and aesthetic choices made during the flip. This includes a thoughtful layout, tasteful selection of colors and fixtures, and consideration of flow and space utilization. Good design enhances the livability and appeal of the home, making it attractive to a wider range of buyers. It's about creating a cohesive look that aligns with current market trends while ensuring timeless appeal. 5. Structural Integrity and Safety: At the heart of quality work is the assurance that the home is safe and structurally sound. This means proper electrical, plumbing, and structural work that meets or exceeds building codes. Quality flippers invest in inspections and permits to ensure that all work is up to standard and that no corners are cut in critical areas that could jeopardize the safety or integrity of the home. 6. Functional Improvements: Beyond aesthetics, quality work improves the functionality and efficiency of the home. This might include upgrading insulation, windows, or systems to improve energy efficiency, or reconfiguring spaces to enhance flow and usability. These improvements contribute to the overall value and desirability of the property. Conclusion: Quality of work in house flipping is a comprehensive concept that encompasses the materials, craftsmanship, design, and structural integrity of the renovations. It's about creating a home that is not only visually appealing but safe, functional, and durable. Assessing quality requires a careful look at the details, an understanding of materials and construction, and a consideration of the home's design and efficiency. Quality work reflects on the flipper's reputation and is a critical factor in the success and profitability of the flip. Buyers and investors should always prioritize and scrutinize the quality of work when considering a flipped property to ensure a sound investment and a safe, beautiful home.

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