“From an insurance standpoint, the purpose of a home inventory is so you have a record in case of the worst-case scenario and you lose everything through wildfire, earthquake, flood, or massive theft,” Davis said. GOBankingRates spoke to Matthew Davis, an insurance agent with GDI Insurance Agency in Turlock, California, to discuss how to create a home inventory - and why it’s so important. This could help you recoup between hundreds and hundreds of thousands of dollars, depending on the value of your home and what’s in it. One important strategy for homeowners and renters alike is to create a home inventory, something that will speed up the claims process if a disaster does happen. Learn: How To Build Your Savings From Scratch I’m a Real Estate Agent: Here Are 8 Renovations Buyers Want the Most in 2023 Times staff writer Jack Flemming contributed to this report.Nobody likes to think about disaster striking their home - whether it’s a wildfire, theft, flood or something else - but being prepared is the best way to mitigate damage and make sure you can recover as quickly as possible. Now, lending standards are far tighter and experts say many homeowners don’t want to sell for less than their neighbor did a few months ago unless they are forced to do so. In large part, that’s because the sizable declines last time around were driven by foreclosures. Other analysts predict that home values will fall in 2023, but few if any experts predict declines like those seen during the Great Recession. To make this case, these analysts say that despite the recent increase in supply and drop-off in demand, there’s still an overall shortage of housing and large numbers of people who still can and want to buy a home. That is, prices will keep rising, but they’ll climb less than they have in the last two years. Some analysts say overall home values aren’t likely to decline but the rate of home price appreciation will slow. For example, you can target homes that are languishing on the market and come in with offers below the asking price. When homes typically fly off the market in days, there’s less an agent has to do to get a home sold.Ī good agent can help you sell in a slow market by suggesting a fair price for the home, staging it with quality furniture or employing other techniques such as video tours or 3-D walk-throughs.įor buyers, a good agent can also help you with strategies to get a home at a relative bargain. In this market, you should be even more careful to pick a good real estate agent. Your property may sit on the market for longer, especially if you price it too high.Īs mentioned above, buyers can afford less than they could a few months ago and many of your fellow sellers have been forced to reckon with that fact and bring down their asking price.įor Subscribers Find and vibe with your real estate agentĪgents have expertise, tactics and contacts that newbie buyers need, and they’re everywhere - even on TikTok. What about sellers?ĭon’t expect your home to get dozens of offers and sell for tens - even hundreds - of thousands of dollars over asking price. Now some agents say more sellers will entertain offers with contingencies in place, a shift that will give you more peace of mind that you aren’t buying a lemon. The appraisal contingency - commonly waived in the pandemic market - lets you walk away if the appraisal comes in low. Here are some tips to make your offer stand out from the rest and help you win (or bypass) the bidding war.įor example, the inspection contingency lets you back out if an inspector finds a cracked foundation or other defect you don’t like.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |