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Four Reasons to Sell this Fall

Traditional lore says that the best time to list your home for sale is spring and if it
hasn’t sold by the end of summer, you’re out of luck. Along the same lines,
homeowners across the country are often advised not to list in the fall and wait
until after the holidays to list. The truth is that a great home will sell at any time
of year and in fact there are some very good reasons to list in the fall, while
everyone else is busy doing other activities.

4 Reasons to Sell this Fall

1. Less Competition – As mentioned above, most sellers list in spring, so as a
seller fall provides you less competition which increases the opportunity
for buyers to view your home.
2. Serious Buyers – Home buyers in fall often have a timeline to move before
the holidays. They tend to take the home search seriously and move to
write offers faster and avoid wasting time.
3. Curb Appeal – Fall is a beautiful time of year and homes always seem cozier
as the weather turns. Fall colors in the trees and the scent of baking entice
buyers to feel “at home” which encourages offers.
4. Closing is Easier – The pace of home sales slows during the fall; as such
lenders can move faster and the process tends to take less time.

The last and best reason to sell this fall is that it’s the right time for you and your
plans. Regardless of whether you are relocating, moving up or scaling down, if this
is the right time to sell, then this is the best time to sell.

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Should I Consider Selling My Short-Term Rental Property?

The travel industry has changed significantly over the past decade. With the popularity of vacation rentals advertised by such sites as Airbnb, VRBO, and Home Away, travelers have more options than ever for lodging during their vacation. Unfortunately, 2020 has seen a serious decline in travel due to the COVID-19 crisis and many owners of these short-term rental properties are wondering what to do.

If you have a short-term rental property, you might be wondering if this is the right time to sell. Here are a few considerations as you weigh your options:

Long-Term Goals – While travel is down significantly right now, this slump won’t last forever. If this property is part of your overall investment portfolio which makes sense for the long run, consider other strategies to keep the rental. If you have a mortgage, speak to your lender about payment options during this time.
Housing Inventory and Local Home Prices – Housing inventory is down about 20% year over-year according to the National Association of Realtors®. Lower inventory has also prevented home prices from falling in most areas.
Historically Lower Interest Rates – Interest rates have dropped significantly since the beginning of the year. It might be time to refinance the property. In addition, if you do decide to sell, buyers are better positioned to buy.

This is a confusing time for everyone. The robust business of short-term rentals has certainly been affected over the past few months and the travel industry will suffer this summer. If you own a short-term rental, consider all your options as you decide whether it’s the right time to sell your property.

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Your Starter Home vs. Your Forever Home

 

Buying a home is exciting. Most people have visualized their dream home—large,
inviting kitchen; multiple bedrooms for family and guests; perhaps a backyard
with built-in BBQ, pool, and fireplace. Yet this dream is often out of reach
financially for first-time homebuyers. These buyers are ready to find a starter
home and perhaps are wondering if saving for a forever home makes more
financial sense.

Before making this decision, it’s important to consult with a professional financial
advisor about your unique situation; more often than not, getting a starter home
makes the most sense.

Things to Look For in a Starter Home vs. a Forever Home

As we already mentioned, a starter home probably won’t have all the features
you dream about, so it’s important to understand the difference between “want”
features and “need” features. For instance, the number of bedrooms might be
more critical than the huge, eat-in kitchen. Finding a home near a park for the
kids might take precedence over the expansive view of the water.

Focus on affordability and find a home that suits not only your immediate needs
but offers the ability to grow in equity. Your starter home should be viewed as a
financial tool to build wealth and position you to move up to your forever home.
Building wealth through homeownership is a great way to ensure you’ll be able to
buy that dream home when you’re ready.