Month: September 2017

Ready, Get Set, Sold: The Advantages of Home Improvement

If you are planning to sell your home, you may want to consider doing some upgrades on your real estate property first before you list it in the housing market. You will definitely lose money if you ignore this strategy because your real estate agent will only be able to attract apathetic buyers with a property which is deficient in improvements or upgrades. Many other residential properties competing in the housing market industry are able to capture the interest of qualified buyers since those properties have been remodeled or improved in one way or another. That supplemental step put those real estate properties ahead of the competition because that is what most buyers are looking for when buying a new home.

Advantages of Home Improvement

There are a few advantages and benefits when you upgrade your home before putting it out in the housing market. Oftentimes, this is the only thing you must do to guarantee the selling of your house, whether you use a real estate agent or not. Yes, you can sell your house without using or hiring a real estate agent to represent you, but you should be totally familiar with the housing laws and real estate guidelines if you are planning to go this route. Having formal training in real estate principles and previous experience in selling a home will play a great factor if you decide not to use a real estate agent. If you find yourself lacking the experience in dealing with buyers, it would be better for you to work with an agent, but don’t forget to perform the improvements your home needed to make it more marketable and primed for showtime.

 

Find a Real Estate Agent Faster

You will definitely find it easier to hire a real estate agent who will promote and market your property because the agent knows that buyers will be pouring in to see what kind of remodeling or upgrades have been performed to your home. All your agent has to do is include that extra line in his or her banner or any marketing material stating the fact that your home has been upgraded and surely, buyers will look at your property.

 

Improved Home Versus Old House

As mentioned earlier, home buyers are more interested in buying a residence that is more appealing and one that is kept up-to-date with the modern styles and fashion of the real estate industry. Remember, nobody would purchase an old, unimproved house for $500,000 when they can buy a property with an upgraded kitchen and living room for $550,000, which could worth $700,000 two or three years down the road.

 

Higher Profit/Better Appreciation

Fortunately, should you decide to postpone the selling of your home, its value will definitely increase as the housing market flourishes over the years because of the home improvements you conducted. You will see that reality when you actually place your home back in the housing market, or by simply having it appraised.

 

Home improvement is vital if you are contemplating on selling your residential property. You will be amazed on how much more money you’ll earn when you’ve done even just a few renovation to your home, probably in the thousands. With reasonable investment, many wonderful things can happen, like a bigger profit margin or the possibility of your home becoming the talk of your community. So, what are you waiting for? Get started in renovating your home now for a better profit tomorrow.

Is Saratoga Springs’ Real Estate Market Finally Cooling?

Real estate

You hear it all the time in Saratoga Springs, NY, “So and so bought their house for pennies fifteen years ago, and just sold it for a fortune!” Will we be hearing much more of this kind of talk though? In the past ten years, Saratoga Springs residents have seen the downtown buildup, the historic neighborhood homes get bought up and its charecter get just a little beat up. In this flurry of change, home prices soared and many people who have lived in Saratoga Springs all their lives were simply priced out of the real estate market. Lately though, prices on existing homes in Saratoga Springs, NY seem to be dropping. What is going on in Saratoga’s real estate market?

First, it may be possible that post 9-11 migration from New York City has slowed in the absence of any more terrorist attacks. For sure, many New Yorkers were scared by the threat of violence and driven to towns like Saratoga Springs, NY, which offer many cultural benefits, are a reasonable drive or train ride from the City, and are comparably much easier and safer places to live. It is no secret that in the past five years, many of our new neighbours in saratoga Springs, NY have hailed from Manhatten and the other New York City boroughs. It is widely believed that their “big city dollars” have driven Saratoga Springs’ real estate market up to unnatural levels.

 

Secondly, Saratoga Springs is famous for and brings a very large temporary population in with its horse racing. In the past, these people returned season after season and rented homes from the locals at a premium. With the low morgage rates of the past five years this made little sense. Instead, these people bought second homes in Saratoga Springs, which serve as an investment or future retiring spot. At some point, all of these people who wanted to purchase a home in Saratoga Springs may have done so.

 

Another factor in the cooling of Saratoga Springs’ real estate market is the ubundance of land surrounding the area. There is plenty of wood and farm land to be taken advantage of. All of the new neighbourhoods poppng up on the outskirts of Saratoga Springs are proof of this. Why would someone want to buy an overpriced home in Saratoga Springs proper, with little land and the problems that accompany older homes, when they could spend less or the same money on a place very near Saratoga Springs, which is new and has all the ammenities they have personally chosen?

 

Finally, you must factor in the summation of all the above factors. That is to say, simple economics would lead one to assume that supply in the Saratoga Springs housing market has begun to outstrip demand. The much talked about over development in Saratoga Springs, NY may have finally reached its enevitable conclusion. Too many houses and condos in the Saratoga Springs housing market and not enough people to fill them. Hey, this is all ok with me though, I’m shopping for a new place.