As the industry continues to grow, staying informed about your local real estate markets is more important than ever. Whether you're buying or selling a home, understanding the trends and nuances of your area can make a huge difference in achieving your real estate goals. Get the most out of your next home purchase or sale by learning how to interpret real estate trends.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Important Real Estate Terms to Understand
When researching a local real estate market, there are a few important terms to keep in mind, including:
Days on Market
Days on market (DOM) refers to the number of days a property has been
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Marketing your listing can make or break your home selling experience. To market a home for sale effectively, you need to focus on creating a compelling online presence, showcasing your property's best features, and pricing it competitively. We'll cover everything from taking high-quality photographs to listing your home on popular real estate websites. By sticking to these tips, potential buyers are sure to flood in, offering you a quick sale at the best price.
Missing a monthly payment is one of the most important mortgage mistakes to avoid. If you've recently acquired one or two late payments, there are many things you can do to get back on track with your mortgage lender. You can get back on track after a missed payment by identifying the cause, working with your lender, and establishing a new budget. Keep reading to learn how to draft your personal repayment plan.
Vacant land can be an amazing investment! If owners make the right moves, undeveloped land will often generate returns without any additional expenses. Owners don't have to build upon or adjust the land in any way; all they need to do is wait for the right buyer to come along. Investing in raw land isn't completely passive, though. It takes a great deal of research and patience to earn the best profits. Here are five tips to help you get started with investing in vacant land for sale.
Did you know that autumn is the second best time of year to sell a home? It's a two- to three-month window of stability sandwiched between the summer and winter holiday seasons where families are getting back into routine. Agents are motivated by the last big sales push of the calendar year, and neighbourhood signs are covered with leaves and "for sale" signs. Here are some tips to make sure buyers are motivated by your home.
A For Sale by Owner (FSBO) home sale may seem like the ultimate in DIY projects. With just a little ingenuity and a lot of hard work, a seller can eliminate the real estate agent fees that cut into their potential profits. And yet, sellers who enter the process are often completely overwhelmed with the details they face. It may be easy for someone with a sales background to point out the original baseboards of the home as a sign of its integrity, but the endless paperwork may not nearly be so easy to navigate. See why hiring a real estate agent for the home selling process makes far more sense.
Many people, through various circumstances, cannot keep up with their home mortgage payments. Missing mortgage payments, not maintaining the insurance, or not paying the taxes on a property can lead to the lender starting the foreclosure process. Know what to expect and the options available when it comes to the beginning of the foreclosure process.
Over the past few years, technology has advanced very far, and that change shows itself clearly when it comes to selling a home. Listings used to only have a few photos, but as time went on, photos became more and more important. Then video walkthroughs of homes became popular to show buyers the home’s layout.
Life sometimes gets in the way; homeowners find that they must downsize for many reasons. It's not always easy. Whether the need results from having a smaller household, a job transfer, financial concerns, pending retirement, change in family status, or just the desire for simplicity, planning a move to a smaller home can be approached logically and without undue stress.
When selling a home, every homeowner wants to do whatever they can to help ensure that it finds the right buyer. However, some things can make selling a home a bit trickier, especially selling a home in a buyers market. Selling a home with pets in residence is a common home seller conundrum.