TOP 10 Reasons to List Your Home During the Holidays
Spring is generally the most popular time of year to sell a house, with swarms of buyers looking to move into a new place before the school year begins. So, you may be surprised that there are actually advantages to selling your home in the winter – here’s our top 10 reasons to list your home during the holidays! People who look for a home during the holidays are more serious buyers. Serious buyers have fewer homes to choose from during this time of year, so your home has less competition. Less competition means more money for you. Buyers usually have more time to look for a home during the holidays than they do during a regular work week. Interest rates are hovering at the same average rate they’ve been for the past 22 years, meaning more buyers will be able to afford your home now than if/when rates rise. You can sell now [for more money], and delay closing until early next year. January is traditionally the month for employees to begin new jobs. Transfers cannot wait until spring to buy, so list your home now to capture that market. Selling now allows you the opportunity to be a non-contingent buyer during the spring when more homes are on the market for less money. This will allow you to sell high and buy low. The supply of listings will dramatically increase in January, so there will be less demand for your home. [Less demand = less money for you]. Some people must buy before the end of the year for tax reasons, making them more motivated to make a decision.
INVESTING + PITFALLS
Investing can be scary, but it doesn’t have to be. I made a few mistakes early in my career as an investor that have taught me the smartest ways of doing business. Now, I’m confident that my strategy works to curate the most profit, and I have had the success to prove it. In 1987, I made the decision to invest in what was then called the Easton Building in Old Ellicott City on Main Street. With the help of 2 partners, I bought it for $90,000 with the intention of selling it quickly for $300,000. We achieved this, but ended up having to put another $100,000 into it on top of the initial $100,000 we spent on renovations. Needless to say, we barely broke even. This was a tough loss, but it taught me some of the most important lessons about investing that have guided me to great success investing since. The first lesson is knowing your why. There are many reasons why you should consider buying an investment property. My reason was my daughter, Lauren. I wanted to fund my daughter’s future college education with my investment property profit. Your reason may be to pay less in income taxes, generate wealth for retirement, be financially independent, etc. The reasons to invest are expansive, but you should have a specific reason of your own. Narrowing your goal will help you narrow your path to achieve it. Once you have your why, the second lesson is knowing who you are. Knowing who you are is crucial. The outcome of my first investment deal showed me who I was early on. I did not like being ‘the money guy,’ the one who finances the project, and I knew I wasn’t the ‘hammer guy,’ the one doing all the fixing up. My skills allow me to successfully play the part as the ‘rainmaker,’ the person who finds the deal and makes it happen. Taking ownership of your skill set is important when deciding who you want to be and what role you will best play in the investment deal. The third lesson is setting an objective. When investing, your goal should either be to 1. repair, renovate, and turn a quick sale for profit or, 2. buy and hold for more money, tax savings and appreciation. Keep in mind, it is very difficult to make quick money. I always think long term. By following these lessons as guides, I achieved my goal. I paid for my daughter’s Bucknell University college tuition using only the profits from one investment property in Columbia, MD. pitfalls to be mindful of: Don’t buy the deal - first buy the location and community. Be careful owning an ink pen! [Watch what you sign and guarantee.] Be careful of the potential liabilities - lead paint, communities, asbestos, etc. Consider local properties that you know rather than a great deal out of your state/neighborhood. Know the laws regarding leasing so you can avoid violating any laws. Partner with people you trust. Use only licensed, insured, and bonded contractors. [Uninsured contractors are a huge liability.] You do not necessarily need a property management company. Engage a REALTOR® you can trust with a spotless reputation and career history of integrity. Google any Realtor you are considering and check the Maryland Real Estate Commission judiciary case search. After you have accumulated a strong equity position in your property, consider refinancing rather than selling to avoid tax consequences. . Remember, the hardest thing to do is buy your first rental property, the easiest is to buy the second! If you want to learn how to buy your first investment property for college fund, retirement or just to build wealth, visit RealBobLucido.com. I will be glad to show you how you can become a millionaire using the same framework I myself used to become a millionaire by the age of 30! -Bob Lucido, CEO + Associate BrokerBob Lucido Team of Keller Williams Lucido Agency + Lucido Global
your home has never been worth more.
Many months of low interest rates combined with high demand for housing has caused home prices to soar. Record home sale prices have led to a sharp increase in property values. Data from brightMLS* and realtor.com shows that property values have increased: 35% on average since 2019 14% on average since 2020 7% on average last year If you're thinking of selling, our complimentary home valuation tool will provide an instant automated snapshot to help you get a feel for the market before speaking with one of our expert real estate agents. --------> CLICK HERE to view your instant home valuation. Since automated valuations can't take into account any improvements you've made, the best way to truly know what your home would sell for in this market is to contact us for a confidential consultation.-----> Lucidoglobal.com/sell *data shown for regions in brightMLS.
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