6 Reasons Why You Should List Your Home During the Holidays

6 Reasons Why You Should List Your Home During the Holidays

Traditional real estate wisdom may be telling you to hold off selling your home until after the holidays, but there are plenty of good reasons to list your home right now. Consider the following:

  • People who are looking for a home during the holiday season are most likely pretty serious about making a move. In fact, they may be in a bit of hurry. Putting your home on the market now might result in a faster sale at a higher price point.
  • Between family gatherings and holiday parties, you’ve probably got your home in bright and shiny, tip-top shape for entertaining. What better time to show off your home to prospective buyers, too?
  • In most areas of the country, yard maintenance decreases during the wintry holiday months. While you may have to blow a few leaves and clear away some snow from walkways, you won’t have to worry about keeping the lawn mowed, the garden beds weeded and the flowers blooming as you would if listing your home in the spring and summer.
  • The end of the year is usually a slower time for real estate professionals, so you will get lots of attention from your agent if you decide to list your home during the holiday season.
  • You will also have less competition in terms of other homes on the market, allowing your home to stand out more to prospective buyers.
  • You can stage your home to make an emotional connection to the holidays. Work with your real estate agent to tastefully decorate so that prospective buyers envision themselves hosting loving family celebrations in your home during the holidays. Stay away from overtly religious decorations and stick with decorations like small white lights, natural evergreens and a few shimmering metallics. An evergreen- or cranberry-scented candle will also emphasize that home-for-the-holidays feel. 

If you need more real estate information, feel free to contact me.

4 Questions You Should Ask Your Real Estate Agent About the Market

When shopping for a home, we’re understandably preoccupied with the physical features of our future abode. How many bedrooms and bathrooms? Is there a first-floor master suite? Enough space in the yard for a pool?
 
While those details are of course paramount, there is some other critical information you should know about any home you’re considering buying: local market statistics. The house you buy is not only the place where you will raise your family and live the lifestyle you’ve always wanted; it’s most likely one of the biggest—if not the biggest—investments you will make in your lifetime.
 
Make sure you’re making a wise investment by asking your real estate agent the following questions:

  1. What’s the average time on market, and how has it changed in recent years?Knowing how quickly homes in your market sell is a great indicator of how much you will be able to profit off the sale of your home in years to come. Also be sure to ask how the days on market is expected to trend in the coming year.
  2. What’s the average sales price in your market? This is important to know in order to gauge whether you’re getting a sweet deal or potentially overpaying and hurting your chances to at least recoup your money when you sell. Find out if the average sales price has gone up or down in the last year or so and in which direction it will head over the coming year.
  3. What’s the current inventory of homes for sale in your market? Inventory is an easy way to determine whether you’re in a buyer’s or seller’s market. Both have their advantages. If inventory is high and you’re in a buyer’s market, you can negotiate a better deal. If inventory is low and you’re in a seller’s market, expect to pay above listing price. However, if market stats show that you will be in a seller’s market for years to come, you can make a nice profit should you choose to sell.
  4. What’s the rate of building and construction in your market? New homes, apartment buildings and businesses are all excellent indicators that you’re buying in a thriving and expanding market, which bodes well for your investment. Conversely, if businesses are closing or moving out of town, and if new-home construction is stagnant, your market may be experiencing a decline. 

Bear in mind, while market stats are extremely important, if you’ve found a great home in an area you love, and plan on staying put for many years, it’s most likely a wise choice. Real estate is still the safest and smartest long-term investment.
 
If you need more real estate information, feel free to contact us.

Philadelphia Real Estate Investing 101

Many of the clients that we have here at InvestPhilly are, in fact, investors. Investor clients generally have different expectations of their property. Rather, than a place to live, they desire a return from their asset.

There are many reasons why someone might choose to invest in real estate and specifically Philadelphia real estate. Over the next several weeks, the team here at Invest Philly will embark on an ambitious project.

Our aim is to educate our audience about some of the risks, benefits, and unique nuances of real estate investments in the city of brotherly love. Our upcoming blog entries should not be considered authoritative academic texts. Rather, they are a collection of writings from professionals to relate our experience, to pique your interest and to provide a primer for further study.


Also, as we publish entries, we ask that you send us suggestions about subjects you’d like to see written about in the blog. We’re always available at admin@investphilly.com and welcome your input.

To begin our series, let’s discuss why someone might consider real estate investing as opposed to other asset classes.

Benefits:

1.Cash Flow:

Many investor in rental properties do so in order to produce a cash flow. This source of income, which is largely passive, is ongoing and regular allowing many investors to pursue other interests or increase their holdings to further grow their cash flow.

Real estate cash flow is stable, predictable and often given as a reason to get into the field. Barring unforeseen maintenance expenses and the occasional bad tenant, this is often suggested as one of the best reasons to get into real estate investing.

2. Tax Benefits:

When discussing taxes, an important stipulation is to always consult with a qualified accountant or financial adviser before making any decisions. That said, federal and state tax laws are often favorable to real estate owners. Whether homeowners or rental property owners.

This before getting into discussions of tax abatements, which are an article in and of themselves and will be discussed at a later time.

3. Appreciation:

As the saying goes; Buy land, they're not making it anymore. This little nugget of wisdom comes from basic economic theory. Increasing demand for a product with a fixed quantity leads to higher price under most circumstances

Astute investors know where to find undervalued bargains. And, barring a major recession, land values tend to rise over time. Thus making it a good investment. This is especially true in a city. A city like Philadelphia.

 

We hope you’ve found this introductory blog entry informative and hope that you will stay tuned for more detailed articles that are coming soon!

As pictured, successful investments will allow you to buy progressively larger houses.

As pictured, successful investments will allow you to buy progressively larger houses.

A Haven of Creativity in Fishtown

A Haven of Creativity in Fishtown

InvestPhilly sits down for a conversation with Kim of the Portside Arts Center to learn a thing or two about expression, community and the power of teaching through art.