Negotiation Tactics When Buying a Home
In today’s real estate market, you really need to know what you’re doing. Interest rates haven’t been this high in decades, pushing most home buyers to the sidelines. It’s also sidelined sellers since they know fewer people can afford homes with such high interest rates. Often, sellers plan to immediately become buyers once they’ve sold their home since they need a new place to live. In doing so, they’d have to give up their (likely) low interest rate loan when they sell and take on today’s high interest rates when repurchasing. Again, since this is not a desirable outcome for sellers, even fewer people are putting their homes on the market.
That’s all to say that inventory and demand are low, bringing the market to a grinding halt. However, if you’ve been keeping a close eye on your local market this year, the few brave sellers willing to sell their homes have been dropping their list prices quite a lot. So perhaps, if you’re careful, you may actually be in a good position to buy a home now despite today’s high interest rate environment. Read on to find out how!
Why Turning A Primary Residence Into A Rental Is A Bad Idea
If you’re thinking about or already have turned a primary residence into a rental, you might want to rethink that. Even if your property is allegedly in a “high appreciation” market, it still may not make financial sense to hold on to it. To understand why, it all comes down to a numbers game, especially taxes. In this post, I will share why I decided to sell my very 1st primary residence instead of turning it into a rental, how I determined that was the best financial decision, and the numbers to back up my decision.
My 1st North Dallas Flip Sold For $130,000 Over Appraised Value
In my previous post, I talked about my house-flipping strategy and my takeaways from my 1st out-of-state flip. However, when I wrote that article, I hadn’t officially sold the home yet. But today, I’m happy to announce that I’ve officially sold the home! While it was a happy ending, when I first listed the home for sale, the listing really got off on the wrong foot. Today, I will share the full story with you.
8 Steps To Buying A Home Anywhere
The home-buying process can be overwhelming, especially for 1st-timers. Even experienced real estate investors have their work cut out for them since every real estate transaction can pose unique challenges. However, the majority of the process (and paperwork, ugh!) is largely the same every time. In this post, I will go over the broad strokes of the home-buying process to help you understand what it takes to become a homeowner. Let’s dive right in!