June marks the second-straight month that over half of home offers submitted by real estate brokerage Redfin contended with multiple bidders. Nationwide, nearly 54 percent of Redfin home offers were engaged in bidding wars in the month of June—an increase from just under 52 percent in May and 44 percent in April, Redfin reported on its website. Bidding wars are being driven by low mortgage rates and low home inventory. Redfin Economist Taylor Marr said, “Bidding wars continue to be fueled by historically low mortgage rates and fewer homes up for sale.” He added, “It’s like a game of musical
Nearly 30 Percent of Homebuyers Plan to Relocate to Small Metro Areas, Even More to Suburbs. Here’s Why
Twenty-seven percent of homebuyers plan to relocate to smaller metro areas as a result of the Coronavirus pandemic. Data from real estate brokerage Redfin showed that 27 percent of more than 1 million homebuyers on its site looked to move to smaller metro areas in April and May. Good to know as you scout for your next flip. Similarly, a report from Realtor.com released in late June showed that house hunters in over half of the nation’s 100-largest metro areas are focusing their attention on the suburbs in those areas, as evidenced by listing views for suburbs in the month
Draw buyers into your next flip with trees that can add lasting beauty to any landscape design. Consider these four options to anchor your lawn. Crepe Myrtle For warmer climates (zones 7 to 9) the crepe myrtle can be ideal. Not only does this tree add instant color to a front yard, but it blooms during the hottest days of summer and is super drought tolerant. Since the crepe myrtle can reach over 15 feet tall and wide you should plant it far away enough from the house to prevent issues as it matures. Blue Spruce If you're looking to
When you're flipping a house, little details matter almost as much as the big ones do - and that includes things you think people will never look at, like window tracks. But how do you get years of dirt and grime out of them so they sparkle like new? Here's the trick. How to Clean Grime From Window Tracks You don't need any special equipment to clean grime from window tracks, even if it's been building up for years. Here's what you need: Disposable cleaning cloths or paper towels Putty knife or butter knife Spray bottle Toothbrush Vacuum with a
If you're listing a house for sale this fall - especially one you've been working on all summer - there are a few mistakes you should avoid in order to sell it quickly and at the right price. Check out this list of three no-gos for selling a house in fall. Selling a Flip This Fall? Don't Do This to the Porch When you're selling your flip in the fall, never: Overdecorate the porch Let leaves and other debris build up in the corners Neglect the windows and front door Let's take a closer look at each of these. #1.
The online real estate marketplace Zillow has just launched a new feature called “Zillow Offers,” formerly known as Zillow Instant Offers, aimed at helping seemingly impatient sellers quickly offload their homes. Zillow Offers is a faster way to sell a property and it comes with a free comparative market analysis (CMA) from a local real estate agent. Here's how it works: You answer some simple questions about your property. You let Zillow offers know if major changes have been made that aren't in the public record. Zillow sends you an offer within two business days. You have three days to
Many Americans have never heard of rain chains, but they are gaining in popularity. They originated in Japan and were used to enhance the beauty of an otherwise utilitarian structure: Gutters. Rain chains are growing in popularity, but people should remember to be careful where they are used. A rain gutter might work well on an overhang that is far from a foundation but may not be ideal for right up by a home. Some of the videos that social media users have shared will demonstrate that in heavy rains, they can just end up splashing water around - water
Want some tried and true tips for creating an ambient and lovely outdoor space that buyers will love? Remodeling Magazine was just one of many that seem to estimate the average return on investment for having an outdoor kitchen installed is shockingly high. The ROI could be even more significant if you know how to install an outdoor kitchen yourself. Ideally, outdoor kitchens feature a pleasing, concrete or stone patio and a separate area for dining. Gazebos and pergola also make the outdoor kitchen stand out to homebuyers. A pergola will add value to any house. ROI after having a
Landlords marketing to Millennial renters face new challenges. For example, most Millennials get almost all of their information from social media. As a lessor, you simply must have an online presence that incorporates a variety of social media platforms to fully market to millennial renters. Don't simply post an ad online on Craigslist and think you have your online presence covered. It important to post to Craigslist, of course, but that shouldn't be your only online presence. Instagram is an incredibly useful online marketing tool. It's a generational favorite. Also, don't merely post a photo and your information to Instagram.
Millennials are the new perfect market for house flippers. Why? Well, according to what Charles Tassell, chief operating officer at National Real Estate Investors Association, told Realtor.com, millennials want to move into home that require very little work. They don't want to have to do their own home upgrades, replace toilets and cabinets, or go through the hassle of re-siding a home. They'd prefer homes that are ready for occupancy. Plus, and here's the big thing, they make up 35 percent of the homebuyer market. Millennials outnumber homebuyers for every other generation. So, believe it or not, home flippers, your