Real Estate – Easy Agent Blogs

How to Buy a House That Is Not for Sale: A Buyer’s Strategy Guide

Want to purchase a house that’s not for sale? That’s possible. How to buy a house that is not for sale? Start by identifying the property and tactfully approaching the homeowner, perhaps with a handwritten note. Engage a knowledgeable realtor who will guide you through the offer, negotiation, and legal considerations with expertise. Guarantee to conduct a home inspection and finance your dream home responsibly. With patience, due diligence, and strategic thinking, you can secure your dream home, even if it’s off-market. There’s a lot more to uncover in understanding this process fully, stick around, and you’ll get the complete picture.

Understanding Off-Market Properties

Diving into the world of real estate, it’s crucial for you to understand off-market properties, a potentially lucrative opportunity often overlooked by many buyers. These properties aren’t publicly advertised or listed on the Multiple Listing Service (MLS), giving you less competition and more negotiating power. However, don’t be deceived by the allure of exclusivity. Off-market properties pose certain risks that you need to navigate skillfully. For one, there might be a reason these properties aren’t on the market. They could be plagued with hidden costs like structural issues, code violations, or overdue taxes. These costs can accumulate quickly, turning a seemingly good deal into a financial nightmare. Furthermore, off-market transactions often lack transparency. Without a public listing, it’s more challenging for you to verify the asking price against comparable properties. This lack of visibility can lead to overpaying, especially if you’re not well-versed in property valuation. Having a professional realtor on your side can make all the difference. They can help you navigate these off-market risks and uncover potential hidden costs. Remember, investing in real estate requires more than just capital; it also demands knowledge, vigilance, and strategic thinking.

Researching Potential Properties

Before you can approach a homeowner about purchasing their property, you’ll need to conduct thorough research. This includes:

Identifying the neighborhood you’re interested in.
Evaluating the value of properties in that area.
Finding unlisted properties.

Identifying Desired Neighborhoods

In your pursuit to purchase a house that isn’t currently on the market, pinpointing your preferred neighborhoods becomes an essential step in researching potential properties. You’ll want to contemplate neighborhood amenities such as parks, shopping centers, and public transportation. Accessibility to these conveniences can greatly enhance your lifestyle and the value of your investment. Similarly, school districts play an important role. If you have children, or plan to, top-quality schools are likely a priority. Even if you don’t, houses in good school districts tend to hold their value better. Hence, take time to identify the neighborhoods that meet your criteria. By doing so, you’re not just buying a house, you’re investing in a community.

Evaluating Property Values

Having identified your chosen neighborhoods, it’s crucial to explore the property values in these areas, laying a strong foundation for your house hunting efforts. This includes not only evaluating the renovation costs of potential homes but also understanding the property tax implications that can greatly impact your budget. Analyze local real estate market trends and compare similar properties to gain a realistic view of home prices. Remember, a house’s value isn’t just about the listing price. It’s about the potential costs of making it your home and the ongoing expenses of property tax.

Unlisted Property Discovery

Once you’re armed with a good understanding of property values, your next step should be to find potential properties that aren’t on the market. This is where the art of ‘Property Stalking’ comes into play. It involves stealthily researching and keeping tabs on properties in your desired area that aren’t currently listed for sale. Here’s a simple strategy to start your ‘Stealth Purchasing’ journey:

Steps	Description
1.	Start by identifying a neighborhood you love.
2.	Look for signs of a potentially available property.
3.	Gather as much information about the property as you can.
4	Contact the homeowner with a well-structured offer.

This tactful approach can help you discover hidden gems not visible on the regular market.

Approaching Homeowners Tactically

When you’ve spotted someone buying a house that is not for sale, it’s important to approach the homeowner tactfully to express your interest without causing discomfort or appearing intrusive. Understanding homeowner psychology is key to this process. Many homeowners are attached to their properties and might initially react with surprise or skepticism to unsolicited offers. Your initial contact strategy should be respectful and non-aggressive. It’s often best to send a handwritten note expressing your admiration for the property, and stating your interest in buying it. This method is less invasive than a direct approach. It also gives the homeowner time to contemplate your proposal before responding. Bear in mind that this isn’t a standard transaction, and the typical rules don’t apply. Be prepared to be patient, as the homeowners may need time to digest the idea of selling their home when they hadn’t planned to. Remember, your goal is to make them feel comfortable and in control of the decision-making process.

Crafting a Compelling Offer

Now that you’ve established contact with the homeowner in a respectful and tactful manner, it’s time to focus on crafting an offer that’s compelling enough to motivate them to contemplate selling their beloved property. The key here is to understand the seller’s motivation and use that to your advantage in your offer presentation. First, do your homework. Investigate the property’s value, the local real estate market conditions, and any potential issues with the property. Don’t skimp on this step; information is critical. Next, structure your offer to appeal to the seller’s motivation. If they’re emotionally attached to the home, assure them that you’ll respect and maintain its character. If they’re financially motivated, present a fair offer that benefits both parties and be ready to negotiate. Your offer presentation is vital. It should be professionally structured, clear, and straightforward, outlining your terms and intentions. Remember, details matter. Highlight how you can close fast, save them listing hassle, or offer flexibility in the move-out date.

The Role of Real Estate Agents

As you navigate this complex process, remember that real estate agents play a pivotal role, especially when buying a house that is not officially on the market. Their negotiation skills, market knowledge, and professional relationships can be leveraged to your advantage. Engaging the right agent can make all the difference in securing your dream home.

Agents Negotiation Skills

When dealing with the challenging waters of purchasing a property not on the market, your real estate agent’s bargaining skills become essential to your success. Part of these skills involves mastering persuasion and the art of compromise.

Negotiation Skill	Why it’s Important	How to Use it
Mastering Persuasion	Influences seller’s decision	Highlight benefits of selling
Art of Compromise	Helps reach a middle ground	Show flexibility in terms
Patience	Allows time to contemplate options	Wait for seller to respond
Empathy	Understanding seller’s position	Show respect for seller’s feelings
Confidence	Shows you’re serious about buying	Stand firm on reasonable offers

Utilizing Market Knowledge

Understanding the local market intricacies can make or break your dream of acquiring a property not currently for sale, and that’s where your real estate agent’s expertise becomes invaluable. They’re skilled in market trend analysis and real estate forecasting, allowing them to predict potential shifts in the market. This knowledge can help you identify the best opportunities and avoid potential pitfalls. They can guide you on when it’s the right time to approach the homeowner, or if it’s better to wait based on market conditions. Remember, it’s not just about finding the right property but also purchasing it at the right time and price.

Building Professional Relationships

Developing strong professional connections with real estate agents is an essential step in your quest to acquire a house that is not currently on the market. Grasping networking etiquette plays a substantial role in creating and sustaining these bonds. Honor their time, listen carefully, and show appreciation for their expertise. These interactions can result in relationship longevity, an important factor when seeking properties that are not publicly listed.

Legal Considerations and Pitfalls

Traversing the legal landscape can be tricky when purchasing a house that’s not on the market, but awareness of potential pitfalls can save you from costly mistakes. The first aspect to ponder is property ownership disputes. It’s not uncommon for complications to arise, perhaps due to disagreements among family members, or a lack of clarity in wills and trusts. These disputes can be time-consuming and expensive to resolve. Next, let’s examine the significance of title insurance. This safeguards you against any legal issues relating to the property’s title. Without it, you could be liable for any undisclosed liens, illegal deeds, or mistakes in the property’s ownership history. Consider the following risks:

Unexpected liens or encumbrances on the property
Fraudulent deeds that could jeopardize your ownership
Legal action from heirs claiming ownership rights These potential pitfalls underline the importance of thorough due diligence. A professional real estate attorney can guide you through this process, ensuring you’re protected. It’s vital to cover all bases before proceeding with a purchase. After all, what’s the point of buying your dream house if you can’t truly call it your own?

Negotiating With Non-Selling Homeowners

Mastering the art of bargaining with homeowners who aren’t actively selling can throw a curveball in your real estate journey, but with the right approach, you can turn a seemingly impossible task into a successful transaction. Overcoming homeowner resistance is vital. You’ll need to present a compelling case, demonstrating how selling their property can benefit them. Direct communication benefits both parties, it fosters trust and transparency. This open dialogue can lead to a better understanding of the homeowner’s concerns and reservations, which you’ll need to address tactfully. Remember, their home may hold sentimental value, so respect and empathy are essential. When negotiating, don’t rush. Patience can yield better results. Be ready to compromise, but also stand firm on your offer if it’s fair. It’s a delicate balance. Lastly, seek professional advice. Hiring Realtors or real estate attorneys can provide invaluable guidance in these complex negotiations. With their help, you can navigate the process more smoothly, ensuring you don’t infringe on the homeowner’s rights or violate any laws.

Financing Your Dream Home

Once you’ve successfully negotiated with the homeowner, it’s time to figure out how you’re going to finance your dream home. Financing isn’t a one-size-fits-all process. It’s important to explore mortgage alternatives and understand the impact of your credit score on your loan options.

Traditional mortgages mightn’t always be the best fit for everyone. Exploring mortgage alternatives such as FHA loans, VA loans, or adjustable-rate mortgages can open up possibilities you may not have considered.
Your credit score has a substantial impact on your loan prospects. A higher score can lead to better interest rates and more loan options.
Consider the long-term effects of your mortgage choice. It’s not only about securing the property, but also about ensuring you can comfortably meet your financial obligations in the future. Time spent researching and understanding your financing options will pay off in the long run. Consulting with a financial adviser or mortgage broker can provide you with a clear path to securing the best financing option for your situation. Remember, your dream home is within reach with the right strategy and preparation.

Conducting a Home Inspection

An exhaustive home inspection, a crucial step in your home buying journey, can reveal potential issues that might require significant repairs or even deal-breakers that could have you reconsidering the purchase. Don’t underestimate the value of knowing what you’re getting into; it’s worth the inspection costs, which are typically between $300 and $500, depending on the size of the home. This thorough check gives you a heads-up on what might need fixing, from faulty wiring to leaking roofs. It’s not just about being aware of potential repairs; it’s also about finding out if the house is worth your investment, and you don’t buy a house that is not for sale. After all, you wouldn’t want to spend your hard-earned money on a property only to discover it’s a money pit.

Closing the Deal Successfully

Now that you’ve found your perfect home and completed the inspection, it’s time to focus on closing the deal successfully. This process involves three crucial steps: securing the best financing options, negotiating favorable purchase terms, and finalizing the necessary legal agreements. Mastering these steps will guarantee a smooth transaction and get you the keys to your new home.

Securing Financing Options

Before you can successfully close the deal on a house that’s not listed for sale, it’s imperative that you’ve secured your financing options. Understanding your loan eligibility and various mortgage types can be a game changer in achieving this goal. Consider these key points:

Knowing your credit score and financial health will determine your loan eligibility. A stable income and debt-to-income ratio are critical factors.
Familiarize yourself with various mortgage types. Whether it’s a conventional, FHA, or VA loan, each has its own benefits and requirements.
Always explore multiple financing options. Don’t settle on the first lender you meet; shopping around can lead to better interest rates and terms. Having a solid financing strategy can turn your dream of owning a unique, off-market property into a reality.

Negotiating Purchase Terms

Once you’ve secured your financing, it’s time to master the art of negotiation to successfully close the deal on your off-market property purchase. It’s essential to understand potential purchase obstacles and how to overcome them. These could include the homeowner’s emotional attachment to the property, disagreements on the property’s value, or reluctance to sell. Your offer structure plays a pivotal role here. Ensure your offer is both compelling and fair, taking into consideration the market value and the owner’s expectations. Highlight the benefits of your offer when you buy a house that is not for sale, such as convenience, speed, and certainty of the sale. Remember, negotiation is a two-way process. Listen to the owner’s concerns and be prepared to compromise to reach an agreement that suits both parties.

Finalizing Legal Agreements

After successfully guiding negotiations, it’s important to focus on finalizing legal agreements to seal the deal on your off-market property purchase. This stage is pivotal, as it can protect you from potential pitfalls such as:

Contractual loopholes that could leave you at a disadvantage
Title disputes that might arise after the purchase
Potential hidden issues not disclosed during negotiations Engage a proficient attorney to scrutinize the contract for any discrepancies and guarantee a smooth handover of property ownership. Remember, understanding the fine print in your contract can prevent future headaches.

Frequently Asked Questions

What Should I Do if the Homeowner Refuses to Negotiate or Discuss the Sale?

If the homeowner won’t negotiate, you’ll need legal assistance. Understand off-market risks and don’t pressure them. It’s their right to refuse. Remember, other opportunities exist. Be patient, persistent, and always professional in your approach.

How Can I Ensure the Security of My Investment When Buying a House Not Listed for Sale?

Mitigate off-market risks by conducting thorough due diligence. You’ll want to verify the property’s condition, title, and value. Engage a lawyer to guarantee investment protection through a solid purchase agreement. Don’t skip professional inspections.

Are There Any Specific Tax Implications When Purchasing a Non-Listed Property?

Yes, tax strategies and mortgage implications are essential when purchasing a non-listed property. You’ll need to contemplate potential capital gains tax and make sure your mortgage interest deductions are properly handled. Consult a tax professional for advice.

How Can I Deal With a Situation Where Multiple Buyers Are Interested in the Same Off-Market Property?

In off-market competition, you’ve got to be proactive. Maintain the buyer’s etiquette, present a compelling offer promptly, and communicate effectively. Being persistent, yet respectful, can give you an edge over other interested buyers.

What Are the Possible Reasons Why a Homeowner Might Not Want to List Their Property for Sale, and How Can This Impact the Negotiation Process?

Homeowners may not list due to hidden cost considerations or emotional attachment impacts. This can complicate negotiations, as you’ll need to appeal to their personal sentiments and assuage concerns about potential financial burdens.

Conclusion

Securing an off-market property to buy a house that is not for sale may seem challenging, but with thorough research, a strategic approach, and a convincing offer, it’s achievable. Remember, a seasoned realtor can make this process smoother, especially in negotiations and finalizing the deal. Always confirm proper financing and home inspections to avoid future complications. By following this strategy guide, you’re on the right path to owning your dream home, even if it’s not currently on the market. Happy house hunting!

What Is a Property Survey? Exploring Its Importance in Real Estate Transactions

Whether you’re buying a new home, selling an old one, or just looking to make some improvements, you’ve likely heard the term ‘property survey.’ But what is it, and why does it matter?

A property survey is a crucial step in real estate transactions because it can reveal hidden issues, define boundaries, and avoid future disputes. Without one, you’re essentially flying blind, leaving yourself open to potential issues down the line.

Now, wouldn’t you want to avoid that?

Defining Property Survey

So, what exactly is a property survey? A property survey, in essence, is a detailed inspection of a property’s boundaries. It’s a critical tool that gives you a clear picture of what you’re buying, or selling, and what’s included in the deal.

Now, you might be wondering about survey limitations. Well, you’ve got to understand that while a property survey gives you an accurate picture of the property’s boundaries, it doesn’t cover aspects like underground rights or possible zoning changes. It’s not a guarantee of every possible issue, but it’s a strong starting point.

Next, let’s consider the legal implications and what legal papers you should need. If you skip this step and issues arise later, like a dispute over property lines, you could be in for a legal headache. It could lead to costly lawsuits or even the loss of part of your property. In addition, having a survey done can also help you avoid potential fines or legal actions due to zoning violations.

In short, while a property survey has its limitations, it’s a crucial part of any real estate transaction. It provides crucial information and can save you from legal trouble. Don’t underestimate its importance.

Process of Conducting a Property Survey

Understanding the importance and role of a property survey, let’s now explore how one is conducted. This process involves several steps and the use of specialized survey equipment.

Initial Research: You start by researching the history of the property’s boundaries, using old maps and deeds. This gives you a preliminary idea of the property lines.
Fieldwork: Next, you’ll head to the property with your survey equipment. Advanced tools like GPS devices, total stations, and electronic distance measurement instruments are used to get precise measurements.
Boundary Disputes Resolution: If there’s a discrepancy between your findings and the existing deed, you’ll need to resolve the boundary dispute. This often involves negotiation between the property owners or legal action if an agreement can’t be reached.
Report Preparation: Finally, you’ll prepare a detailed report of your findings, including a diagram of the property’s boundaries.

Interpreting a Property Survey Report

Once you receive the property survey report, it’s crucial to know how to interpret the data and diagrams accurately to understand the property’s boundaries and potential issues. You’ll find detailed measurements, markers, and notations that depict the property’s exact layout. But, understanding this information isn’t always straightforward.

You’ll need to first look for any survey inaccuracies. These are mistakes or omissions in the report that can lead to legal disputes or financial losses. For example, a missing easement or incorrect boundary line can dramatically affect property value and usage rights.

Next, focus on report discrepancies. These indicate differences between the survey report and the property’s actual state. A discrepancy could be an unreported structure, like a shed or fence, that encroaches on a neighboring property.

It’s also important to note any encroachments, easements, or right-of-ways. These could limit your ability to modify or use certain parts of the property.

Lastly, make sure to confirm that the physical markers on the property match those in the report. If they don’t, it’s a clear sign of an issue.

In short, interpreting a property survey report requires careful attention to detail. Understanding what to look for can save you from future headaches.

Importance in Real Estate Transactions

While you might view property surveys as just another step in the real estate transaction process, they’re actually a crucial tool that can protect your interests and investment. The importance of these surveys extends beyond mere formalities.

Survey Costs: These surveys might seem like an extra expense, but they can save you from future financial headaches. They identify potential issues such as boundary disputes or encroachments, which could lead to costly legal battles if not addressed before the transaction.
Legal Implications: Property surveys provide a legal description of the property, helping you avoid potential legal complications. They’re often required for zoning permits and mortgage loans.
Knowledge is Power: Surveys can reveal essential information about the property, such as easements, rights of way, or restrictions that could affect your use of the property.
Negotiation Leverage: If the survey uncovers issues, this can give you leverage in negotiations. You can request that the seller remedy the problems or adjust the price to account for them.

Case Studies: Property Survey Pitfalls

To illustrate the importance of property surveys, let’s delve into a few case studies that highlight the potential pitfalls of skipping this crucial step in real estate transactions.

Case 1: A couple bought a home with a beautiful garden, only to find out later through a property survey that half of the garden belonged to their neighbor. This survey error led to a legal dispute.

Case 2: A developer built a block of apartments, not realizing one corner infringed on a public pathway. A late property survey revealed the error, resulting in costly modifications.

Consider these cases:

Case	Pitfall
Case 3	A man built a fence on what he thought was his property. A neighbor’s survey showed the fence was on their land, leading to a legal dispute.
Case 4	A woman sold her property, but the survey revealed an old, unregistered right of way through her land, causing the sale to fall through.

Frequently Asked Questions

What Qualifications Should a Property Surveyor Have?

A property surveyor should have a degree in surveying or a related field, experience, and a professional license. They must adhere to the surveyor’s ethics and fulfill their surveyor’s responsibilities, ensuring accuracy and integrity in their work.

How Long Does It Typically Take to Complete a Property Survey?

Survey timing can vary, but generally, it’ll take a few weeks to complete a property survey. However, unforeseen delays like weather or complex property lines can extend this timeframe. Patience is key.

What Is the Average Cost of a Property Survey?

The average cost of a property survey varies greatly. It’s influenced by factors like survey accuracy and possible pricing discrepancies. You’ll typically spend between $200 and $800, but complex surveys can exceed $1,000.

Can a property owner conduct their own survey?

You can conduct your own property survey, but it’s risky. Without a professional understanding of surveying techniques, you’re likely to make errors. It’s safer and more accurate to hire a professional for this task.

What Should You Do If You Disagree With the Results of a Property Survey?

If you’re unhappy with your property survey’s results, don’t panic. Address survey discrepancies directly with the surveyor. If unresolved, you’ve got legal recourse. Consider hiring an independent surveyor or seeking advice from a real estate attorney.

Conclusion

So, you see, a property survey isn’t just a piece of paperwork. It’s a vital tool in real estate transactions, offering protection and clarity. It helps you understand what you’re really buying, saving you from potential pitfalls down the line.

Never underestimate its importance. After all, it’s better to be safe than sorry, right? So, take that extra step, get that property surveyed, and ensure a smoother, more secure real estate transaction.

Decoding the Best Time to Sell a House: Insider Tips

Selling your house can feel like navigating a ship through a stormy sea, but with the right guidance, you can find the calmest waters. You’ve probably heard that timing is crucial when selling a property, but what does that really mean? It’s not just about the right season or the state of the economy, there’s more to the story.

Let’s unpack the factors that determine the best time to sell your house, giving you the insider tips you need to navigate the property market. Intrigued to learn more? Don’t go anywhere.

Understanding the Housing Market Cycle

To make the most of selling your house, you need to grasp the concept of the housing market cycle. This cycle isn’t a random roller coaster, it’s shaped by market volatility and buyer demographics. Understanding these factors can help you sell your house at the right time, for the right price.

Market volatility, which refers to the rate at which the price of a house increases or decreases, is crucial. When volatility is high, prices can swing wildly. But don’t let this scare you. By staying informed, you can make volatility work for you, not against you.

Buyer demographics are another key player. It’s about knowing who’s looking to buy and what they’re looking for. For example, millennials might be seeking affordable starter homes, while retirees might be downsizing. By understanding these trends, you can position your house to appeal to the right crowd.

Seasonal Impact on Property Sales

You’ll find that even the seasons can significantly sway property sales, with certain times of the year proving more favorable for sellers. This seasonal impact is influenced by various factors, including holiday effects and regional weather patterns.

Holiday effects: The festive season, while filled with cheer and warmth, isn’t always the best time to sell. Prospective buyers are often busy with holiday preparations and less focused on house hunting. Conversely, the start of a new year can see a surge in interest as buyers are motivated to make fresh starts.
Regional weather patterns: These can greatly influence the attractiveness of a property. For instance, homes in areas with harsh winters may be less appealing during the cold season. However, properties in sunny locales may see a boost in sales during the winter months when buyers seek refuge from the cold.
School schedules: Families with school-going children often prefer moving during summer breaks. This makes late spring and early summer a hot selling period.

Being aware of these seasonal impacts can guide you in choosing the optimal time to sell. Remember, timing is key when it comes to property sales.

Economic Factors Influencing Home Sales

While seasonal factors certainly play a role in home sales, it’s also important to consider the economic climate when planning to put your house on the market. Factors like interest rate fluctuations and job market trends can significantly affect the real estate market’s condition and, consequently, the value of your house.

Interest rate fluctuations can make mortgages more or less affordable. When rates are low, more buyers enter the market, potentially increasing the demand for your house. Conversely, high rates may shrink your pool of potential buyers.

Job market trends also play a critical role. When employment is robust and wages are rising, more people can afford to buy homes. However, a weak job market can depress housing demand.

Remember, these are just a couple of the economic factors affecting home sales. The table below provides a quick summary:

Economic Factor	Effect on Home Sales
Low Interest Rates	Increases demand
High Interest Rates	Decreases demand
Strong Job Market	Increases demand
Weak Job Market	Decreases demand
Rising Wages	Increases demand

Understanding these dynamics can help you decide the best time to sell your house.

Personal Circumstances and Home Selling

Beyond market conditions, your personal circumstances significantly impact when it’s best to sell your house. Factors such as relocation planning and emotional readiness play vital roles. Selling a house isn’t just a financial decision; it’s a personal one that requires careful thought and planning.

Relocation planning is key. Are you moving for a job, retirement, or a change of scenery? Consider the timing. It’s crucial to coordinate the sale of your current house with the purchase of your new one. You don’t want to be left in a lurch.

Emotional readiness is another crucial factor. Selling a home, particularly one you’ve lived in for many years, can be an emotional process. You need to be ready to let go.

In summary, consider these factors:

Your ability to plan and execute a move
Your emotional readiness to sell
The timing of selling and buying a new home

Preparing Your Home for Sale

Before putting your house on the market, it’s crucial to spruce it up and ensure it’s in top-notch condition to attract potential buyers. This is where staging strategies and renovation benefits come into play. You’re not just selling a building; you’re selling a potential home.

Staging strategies involve decluttering, cleaning, and arranging furniture and decor to make your home as appealing as possible. The goal is to help buyers imagine themselves living in your space. Renovations, on the other hand, can enhance the value of your home. Even minor upgrades to key areas, such as the kitchen or bathroom, can significantly increase your home’s appeal.

To summarize, here’s a quick comparison:

Staging Strategies	Renovation Benefits
Enhance visual appeal	Increases home value
Help buyers visualize living there	Attracts more potential buyers
Involve less time and money	Can fix any existing issues
Can be done DIY	Often requires professional help

Frequently Asked Questions

How Can I Handle Multiple Offers on My House at the Same Time?

Handling multiple offers on your house involves smart offer evaluation. You’ll need to assess each offer carefully, use counteroffer tactics wisely, and not rush. It’s about getting the best deal, not just the quickest.

What Should I Do if My House Isn’t Selling Even Though It’s the Peak Season?

If your house isn’t selling during peak season, don’t panic. Reevaluate your pricing strategy—maybe it’s too high. Also, implement effective staging techniques; they can often make your home more appealing to potential buyers.

How does the home inspection process work when selling a house?

You’ll start with inspection preparation, ensuring everything’s in order. A pre-inspection gives benefits like identifying potential issues. Then, a professional inspector examines your home, producing a report detailing any problems they’ve found. You’ll address these before closing.

What Are Some Negotiation Strategies I Can Use When Dealing With Potential Buyers?

You can utilize buyer psychology and pricing tactics when negotiating. Understand the buyer’s motives and apply strategies like setting an attractive price or offering incentives. Tailor your approach to their specific needs and wants for a winning deal.

How Can I Protect My Privacy While My Home Is on the Market?

To protect your privacy while your home’s on the market, implement strict privacy measures. Use open house precautions like removing personal items and setting visitor rules. Don’t disclose unnecessary information to potential buyers.

Conclusion

So, you’ve navigated the complexities of the housing market cycle, understood seasonal impacts, and weighed economic influences.

You’ve considered your personal circumstances and prepared your home for sale. Remember, there’s no absolute ‘best’ time to sell; it all hinges on your specific situation.

Arm yourself with knowledge, be patient, and make savvy decisions. Your perfect selling moment is just around the corner.

Happy selling!

Knowing When to Hire a Real Estate Attorney: A Guide for Home Buyers and Sellers

Just like a lighthouse guiding ships through stormy seas, a real estate attorney can navigate you safely through the choppy waters of property transactions. They’re not just for the rich or the overly cautious; in fact, there are specific situations where you’ll wish you’d secured their services.

But when exactly do you need one? How do you know when it’s time to rope in a legal expert on your home buying or selling journey? Let’s explore this uncharted territory together, and perhaps, spare you some future headaches.

Understanding Real Estate Legalities

To navigate the complex maze of real estate legalities, you’ll need a thorough understanding of the laws and regulations that govern property transactions. This understanding begins with a legal terminology breakdown. Terms like easements, liens, encumbrances, and eminent domain may sound like a foreign language, but they’re crucial to grasping the nuts and bolts of property law.

The next step is property rights exploration. You’ve got to understand that owning a piece of land isn’t just about the physical space. It’s also about the rights associated with it. These rights can be divided into two categories: surface rights and subsurface rights. Surface rights refer to anything on top of the land, like buildings or trees. Subsurface rights, on the other hand, refer to what lies beneath, such as minerals or oil.

As you delve deeper into real estate legalities, it’s important to remember that every property is unique, with its own set of potential legal pitfalls. So, don’t be afraid to seek professional help if you’re feeling overwhelmed. A real estate attorney can guide you, ensuring that you’re fully aware of your rights and obligations.

When Buying: Key Considerations

While understanding real estate legalities is important, it’s equally vital to keep a few key considerations in mind when you’re on the buying side of a property transaction.

First, property financing can be complicated. It’s not just about getting a mortgage; you’ll also need to consider property taxes, insurance, and potential homeowner association fees. An attorney can help you understand these financial obligations and ensure you’re prepared for them.

Second, contract negotiations are another area where an attorney can be invaluable. Buying a house involves numerous contracts, from the initial offer to the final purchase agreement. These contracts can include complex legal language and terms that you might not understand. An attorney can review these contracts, explain them to you, and negotiate on your behalf to ensure your interests are protected.

When Selling: Necessary Precautions

Just as buying a property requires careful consideration, selling one also necessitates taking certain precautions to ensure a smooth transaction. You’re not only looking to get the best deal, but also to avoid any legal complications that could throw a wrench in your plans.

One of the key areas to pay attention to is property disclosure. It’s your legal obligation to inform potential buyers about any known issues with your property. Failing to do so could lead to lawsuits and other complications.

Here are some precautions you should take when selling a property:

Ensure your property disclosure is complete and truthful.
Be prepared for potential closing complications.
Keep all communication with the buyer in writing.
Be careful with the wording of your sales contract.
Don’t skip the home inspection process.

Benefits of Hiring a Real Estate Attorney

Navigating the complexities of real estate transactions can be a daunting task, but hiring a real estate attorney can provide numerous benefits to ease the process.

One of the key benefits is legal protection. An attorney will review all documents involved in your transaction, ensuring every detail is examined for your best interest. They’ll protect you from unscrupulous sellers or buyers, potential scams, and even simple oversights that can have major legal implications down the line. With an attorney on your side, you’re not just buying or selling a property—you’re securing peace of mind.

Attorney fees might seem like an additional expense, but consider this: the cost of a legal misstep in real estate can be far more devastating. With an attorney, you’re investing in expertise that can save you from costly pitfalls. They can negotiate better terms, prevent legal issues, and even save you money in the long run.

Tips for Choosing the Right Attorney

Now that you understand the benefits of having a real estate attorney, it’s important to know how to select the right one for your needs. So, here are a few tips that might come in handy:

Experience: Look for an attorney with plenty of experience in real estate law. They’ll have the expertise to handle complex cases.
Attorney fees: Don’t shy away from discussing fees upfront. Choose one whose charges are within your budget.
Law firm reputation: A reputable law firm usually has reliable attorneys. Research online or ask around to get an idea of the firm’s standing.
Communication: You’ll want an attorney who communicates clearly and promptly. Misunderstandings can lead to serious legal issues.
Recommendations: Ask for recommendations from friends, family, or professional contacts. They can give you an honest review of the attorney’s services.

Choosing the right attorney isn’t just about their experience or fees. It’s also about their reputation, communication style, and recommendations. Remember, you’re entrusting them with a significant financial transaction. So, take your time and choose wisely.

Frequently Asked Questions

What Is the Average Cost of Hiring a Real Estate Attorney?

You’re asking about the average cost of a real estate attorney. It’s not a set figure, it varies based on attorney qualification and legal fee breakdown. Generally, you’ll spend between $150 and $350 per hour.

Can a real estate attorney negotiate on my behalf during property transactions?

Absolutely, a real estate attorney’s expertise allows them to negotiate on your behalf. They’ll ensure legal protections are in place, so you’re not left vulnerable in any property transactions. It’s their job to safeguard your interests.

Will a real estate attorney help in resolving property disputes?

Absolutely, a real estate attorney’s expertise is crucial in dispute prevention and resolution. They’ll leverage their knowledge to negotiate, mediate, or even litigate property disputes on your behalf, ensuring your interests are protected.

How Long Does a Typical Real Estate Transaction Take with a Real Estate Attorney?

Depending on attorney selection and transaction complexity, it’s typically 30–60 days. You’ll experience quicker, smoother transactions with experienced attorneys, but complex deals may take longer to navigate and finalize.

What Are Some Specific Situations Where Hiring a Real Estate Attorney Would Be Unnecessary?

For uncomplicated transactions, like a straightforward home sale, you don’t need to hire a real estate attorney. Alternatives, like a trusted realtor or title company, can handle everything smoothly on your behalf.

Conclusion

So, you’ve navigated the complexities of real estate legalities, and you’re armed with the knowledge of when to hire a real estate attorney. Remember, it’s not just about buying or selling; it’s about protecting your interests.

Hiring the right attorney can make all the difference. Don’t rush your decision. Use the tips provided to find the perfect fit for your needs.

It’s your property, your money, and your future—take control!

Understanding Pre-Listing Inspections: What Sellers Need to Know

In the dynamic world of real estate, selling a home is not just about listing it on the market. It’s about making strategic decisions that enhance its appeal and value to prospective buyers. One such decision is opting for a pre-listing inspection. This detailed guide dives into what a pre-listing inspection entails, its coverage, comparison with standard home inspections, timing, costs, and the nuanced pros and cons it presents to sellers. Additionally, we’ll explore the obligations around disclosure and address common concerns and misconceptions about the process.

What is a Pre-Listing Inspection?

A pre-listing inspection is an assessment conducted on behalf of the seller before a home is listed for sale. This proactive approach allows sellers to uncover any issues or defects within the property that could potentially derail or complicate a future sale. By identifying these problems early, sellers can choose to address them, thereby avoiding last-minute negotiations or concessions to the buyer.

What Does a Pre-Listing Inspection Cover?

Pre-listing inspections mirror the thoroughness of buyer-initiated inspections, examining key components of the home, including but not limited to:

Structural Integrity: Assessing the foundation, beams, and roofing for signs of wear, damage, or instability.
Systems and Components: Evaluating the condition and function of the home’s HVAC, electrical, and plumbing systems.
Exterior and Interior Conditions: Checking for any damage or concerns with the home’s exterior walls, windows, doors, and interior spaces.
Additional Inspections: Depending on the property, this might also include checks for mold, pests, radon, or asbestos.

Home Inspection vs. Pre-Listing Inspection

While both inspections aim to evaluate the condition of a property, their timing and initiating party differ. A traditional home inspection is requested by the buyer after an offer is made, often as a contingency of the sale. In contrast, a pre-listing inspection is initiated by the seller before the home is even listed. This fundamental difference can significantly impact the negotiation dynamics and sale process.

When to Get a Pre-Listing Inspection

The ideal timing for a pre-listing inspection is before you list your home for sale. This strategic timing allows you ample opportunity to make necessary repairs or adjustments based on the inspection findings, setting a realistic price for your property that reflects its condition and market value.

How Much Does a Pre-Listing Inspection Cost?

The cost of a pre-listing inspection can vary widely depending on the size and location of your home, as well as the depth of the inspection required. On average, sellers might expect to pay anywhere from $200 to $600. While this may seem like an additional upfront cost, it can save money in the long run by preventing unexpected issues from arising during the sale process.

Pros and Cons of a Pre-Listing Inspection

Pros:

Increased Transparency: Offers a clear picture of the home’s condition, enhancing trust with potential buyers.
Negotiation Leverage: By addressing issues beforehand, sellers can avoid price negotiations related to the property’s condition.
Faster Closing: Minimizes the chances of surprises that could delay or derail the sale process.

Cons:

Upfront Costs: Requires an initial investment from the seller for the inspection.
Potential for Overwhelming Information: Sellers might feel compelled to fix all issues identified, which can be costly and time-consuming.
Disclosure Requirements: Revealed issues may need to be disclosed to potential buyers, which could affect their interest or the perceived value of the home.

Are You Required to Disclose Your Pre-Listing Inspection?

Disclosure requirements vary by state, but generally, any known defects or issues that could materially affect the property’s value must be disclosed to potential buyers. This means that if a pre-listing inspection uncovers any significant problems, the seller is typically obligated to disclose these findings.

What About Sellers Who Don’t See the Sense in Paying for an Inspection?

Some sellers may question the value of a pre-listing inspection, especially if they believe their home is in good condition or if they’re in a hurry to sell. While skipping the inspection can save upfront costs, it’s a risky move that could lead to unexpected buyer demands, renegotiations, and even legal disputes post-sale. The cost of a pre-listing inspection is often a small price to pay for the peace of mind and smoother sale process it can provide.

Wouldn’t Buyers Still Want to Do Their Own Inspection?

Yes, many buyers will still opt for their own inspection, and that’s perfectly acceptable. However, a pre-listing inspection can complement this process by preparing the seller for what might be discovered, allowing them to address significant issues beforehand. It can also serve as a gesture of good faith, showing potential buyers that the seller is committed to transparency and has taken steps to ensure the home’s condition is up to par.

Conclusion

A pre-listing inspection is a strategic tool that can significantly impact the sale of a home. It not only prepares sellers for negotiations by providing a clear understanding of their property’s condition but also streamlines the sale process by mitigating potential surprises that could delay or derail a deal. While it comes with its own set of considerations—such as cost and the potential need for disclosures—it offers a proactive approach to selling that can ultimately lead to a more satisfying, efficient, and potentially more profitable sale.

By understanding the ins and outs of pre-listing inspections, sellers can navigate the real estate market more effectively, ensuring their home stands out for all the right reasons. Whether you’re a first-time seller or a seasoned real estate investor, considering a pre-listing inspection could be the key to unlocking the true potential of your property sale.

FAQ

Q: Can I perform a pre-listing inspection myself, or do I need a professional?

A: While sellers can conduct a basic review of their property, a professional home inspector brings a level of expertise and thoroughness that is crucial for a comprehensive assessment. Professional inspectors are trained to identify issues that may not be apparent to the untrained eye, including structural, electrical, and plumbing problems. It’s highly recommended to hire a professional to ensure the inspection is thorough and adheres to industry standards.

Q: If the pre-listing inspection reveals major issues, am I obligated to fix them?

A: Discovering major issues during a pre-listing inspection does not obligate you to fix them. Sellers have the option to repair the issues, adjust the home’s price accordingly, or disclose the problems to potential buyers and sell the home as-is. Each option impacts the sale process and negotiations differently, so it’s important to weigh the costs and benefits before making a decision.

Q: How do I choose a reliable home inspector for a pre-listing inspection?

A: To select a reliable home inspector, look for individuals certified by reputable organizations such as the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI). Recommendations from your real estate agent or industry peers, along with reviews

Retirees: Check out the benefits of downsizing

One minute, you’re a fresh-faced 20-something taking on the world, and the next, you’re taking down the shingle and considering how the two of you (or the solo you) will deal with life after work.

It’s at this point that many baby boomers decide to flee the empty nest and downsize. It’s a smart move right now considering how much equity homeowners have been able to accumulate in the recent overheated housing market.

The advantages of downsizing outweigh the disadvantages

If you’ve owned your home for some time and plan on selling soon, you may be surprised at how much you’ll gain from selling. “Soon” is the operative word in the scenario, however. The real estate market is correcting and some experts claim that we’ll be in a homebuyers’ market sometime later this year or early 2024.

Selling sooner rather than later allows you to take advantage of mortgage rates that are still “lowish” and a market that is still fairly friendly to sellers.

But, that’s not the only advantage of downsizing

Smaller homes are easier to maintain

The worst part of owning a house is the amount of time, effort and money that maintaining it requires. If you’d rather spend those hours with family and friends or traveling, snoozing or whatever, downsizing is a good choice for you. There are many ways to make a smaller space functional and design-friendly too!

Bonus: Smaller homes also take less time to clean.

You’ll spend less money with a smaller home

Smaller homes not only cost less, but they’re less expensive to insure, heat and cool and they typically come with lower property taxes than larger homes.

Your body will thank you

Come on, we may not like admitting it, but our aging bodies don’t do well with stairs or bending over to pull weeds and anything that represents a “slip and fall” danger becomes terrorizing. Downsizing gives you a chance to choose a home that allows you to safely age in place.

Questions? Feel free to reach out to us to learn more about how we can help you downsize.

3 ways to make your home attractive to buyers (that have nothing to do with staging and curb appeal)

What is the number one fear of most homebuyers? That the home they have fallen in love with is a “lemon,” and that there will be future issues that will cost the buyer a fortune.

Sure, a professional home inspection can alleviate many of these nagging doubts, but there are other things a seller can do to induce confidence in homebuyers. Things that your competition is most likely not offering.

1. Check your warranties

Have you had any work done to the home? Whether it was replacing a water heater or HVAC system to installing irrigation in the backyard, you hopefully have a warranty or two for the work performed.

Read over the terms of the warranties, looking carefully for whether or not any of them are transferable. “When allowed, warranty transfers are subject to the manufacturer’s terms and conditions so be sure to review the warranty for this important information,” cautions Annie Crawford at GAF.com.

Transferable warranties, especially on pricey items, such as HVAC systems and swimming pools, are a confidence booster for homebuyers, and an excellent marketing tool.

2. Gather renovation records and receipts

Not only do homebuyers love improvements to a home, appraisers do too. Therefore, it’s always a good idea to have on hand, for both parties, receipts and records of any renovations performed on the home.

Offer to make copies so that the buyer knows which contractor to call if service or repairs are ever required.

3. How old is that …?

Savvy homebuyers will ask their real estate agent to find out the age of the pricier systems in a home. These include the HVAC system, roof, electrical system and water heater, among others.

If you’ve had routine service performed on any system in the home (especially the HVAC system), dig out the records to prove this. It’s valuable information for both your bottom line in the home sale and for the buyer’s confidence in the home.

Take these three steps to make your home more attractive to buyers and watch the offers roll in.

What’s going on in the real estate market?

To say that our neck of the woods is wildly popular would be an understatement. From national press accolades as one of the country’s best places to live to excellent schools, our communities offer an unparalleled lifestyle.

Its popularity is one reason that our market is being particularly hard hit by a low inventory of homes for sale. With far more buyers in the market than homes to sell, prices are soaring in response to the demand.

How is “inventory” determined?

Real estate professionals answer a hypothetical question when determining the absorption rate for the current inventory of homes for sale:

“How long would it take to sell every listed home if no new homes came on the market?”

Finding the answer requires using a specific calculation that results in a “months of inventory” figure.

As of this writing, U.S. Existing Home Months’ Supply is at 3.30, which is up from 3.10 the previous month. In fact, the inventory of available homes has been steadily increasing, month over month, since December of 2022, according to research from the National Association of REALTORS.

Most real estate professionals agree that an inventory of 5 or 6 months is a sign of a balanced housing market. We still have a way to go to reach either of those numbers, but the steady increase over the past 10 months is encouraging for homebuyers.

This is where we are right now – a market that still favors sellers, but is in flux. If you hope to take advantage of the sellers’ market, jump in soon.

Why are there so few homes for sale?

The reasons behind our low inventory situation are multi-pronged.

Mortgage interest rates

Not only are rates higher than they’ve been in some time, but folks who bought when they were super low are reluctant to sell. “… homeowners don’t want to give up their low mortgage rates,” according to Holden Lewis at NerdWallet.com.

Baby boomers (born between 1946 and 1964)

Our older generation is taking much of the blame. Surveys of this generation of homeowners (33 million are owner-occupants), find that the majority of them have decided to age in place. Plus, they are concerned about number 1, above, losing their current low mortgage rate if they sell and then buy another home.

Home builders

“New home sales are up almost a third compared to last year, even as sales for existing homes remain in the doldrums,” claims Diccon Hyatt at Investopedia.com.

Sounds like good news, right? Not so fast.

Those higher interest rates aren’t only hurting homebuyers. Builders need credit as well and financing their projects has become vastly more expensive.

While housing permits have increased, completions have dropped to the “… lowest level since January 2022,” according to Lucia Mutikani at Reuters.com.

Finally, investors who have been snatching up homes over the past few years are seeing rents rise at an astonishing rate. “Those investors have no incentive to sell,” Dennis Cisterna, CEO of Investability Solutions tells Lewis.

What are you waiting for?

If you’re thinking of selling your home, why are you waiting? With each increase in mortgage rates, a certain number of potential buyers leave the pool. If those numbers grow larger, the market will change and prices may begin to come down.

Right now, your home value is most likely at a record high and buyers are clamoring for homes. If ever there was a better time to sell a home, this is absolutely it.

Many would-be sellers tell us that they’re hesitating because of a fear that they won’t be able to find a suitable replacement home. Buying a home while trying to sell one can be challenging, but we offer brilliant solutions that make the process far less stressful.

Please reach out to us if you have any questions about the real estate market here in our corner of the world We love to talk about real estate!

3 Things you absolutely must do before the open house

Yes, there aren’t enough homes for sale for all of the buyers who are dreaming of buying one. The good news for homebuyers is that the inventory of available homes has increased, month over month, since April of this year (realtor.com).

Let’s hope that trend continues, for buyers’ sake.

As for home sellers? If you are putting your home on the market soon, pat yourself on the back. The inventory will, someday soon, get back to normal. When it does, there will be plenty of competition among home sellers and prices typically drop in these situations.

You will get more for the house right now than in a buyers’ market. Especially if you ready the home for the spotlight.

1. Clean anything that’s gross

Potential homebuyers look at just about everything in your home. They open drawers to see how roomy they are, they open closets for the same reason.

They open kitchen appliances if they’re included in the sale.

Many homeowners learn to live with the gunk that accumulates inside appliances, such as the oven, refrigerator and dishwasher, without performing routine cleaning. Open house attendees will consider it disgusting.

Ensure that any appliances that will be included in the sale are impeccably clean, inside and out.

Clean the toilet until it sparkles, get rid of soap scum in the bathtub and hang up fresh towels.

2.Don’t ignore your curb appeal (or lack thereof)

We like to ask our listing clients to go outside and stand at the curb in front of the house. Ask a friend or neighbor to accompany you.

Take notes of what you see and ask your companion to do the same. Since this spot, at the curb, is most likely where potential buyers will get their first in-person glimpse of the home, look at it with a critical eye.

Are there any turnoffs? These can be anything from chipped or peeling paint on the fascia to dead plants and torn window screens.

Transform that area of the home into a magnet that draws people out of their cars and into the home.

3.Don’t leave home without them

Common home-selling practices include the fact that the homeowner should not be home during the open house. Your real estate agent will act as your representative to all that attend.

Your real estate agent, on the other hand, isn’t responsible for ensuring that the home is clean, that the landscaping is in top shape and that your pets aren’t present.

Yes, it’s a terrible inconvenience to have to find a place for your pets for several hours. But it is critical. Here’s why:

Many people are allergic to dogs and/or cats. Just looking at them may psychologically trigger their allergies.
An intense fear of dogs. Nobody knows how many people suffer from this phobia but the experts at the Cleveland Clinic claim that “… fear of animals is one of the most common types of specific phobias.”

They also say that “… about 1 in every 3 people with a phobia of animals has an overwhelming fear of dogs.”

With all of the people coming in and going out of the house, your pets may get out.

Many homeowners think that they can get around these issues by crating the animals and keeping them in a closed-off-to-open-house attendees room.

It’s something most listing agents discourage. Potential buyers will wonder why it isn’t available to view. Think of it this way:

Would you buy a car from a seller who refuses to allow you to look in the trunk?

There are many ways to deal with the pet conundrum:

Schedule their grooming for open house day
Ask a friend or family member to watch them
Take them to a pet daycare center
Hire a dog walker for a few hours
Take the dog to the park
Negotiate with a boarding facility for an hourly rate

Shopping for a home? Pay attention to the neighborhood

Homebuyers enter the home shopping process with one of two mindsets. There are those who know what kind of house they want – the number of bedrooms and bathrooms, the type of kitchen and maybe whether or not they want a yard.

Then there are those who know where they want to live, such as a specific school district or neighborhood, but haven’t completed a wish list of home features.

Seldom does a homebuyer tell her real estate agent that she wants a “3-bedroom, 2-bathroom home with a gourmet kitchen, a fireplace and a pool in the backyard, located on J Street in the Mountain Shadows neighborhood.”

While the features you want in a home are important information for your real estate agent, “location, location, location” is just as important, important, important.

Even if you’re among the group of homebuyers who know exactly what you want in a house and perhaps have one picked out, it’s important to scope out the neighborhood before committing fully to buying.

Don’t Believe What You Hear

Especially when you are new to an area, it’s easy to believe what residents tell you about the various neighborhoods.

“When I was getting ready to move to Las Vegas 10 years ago I went online and read about the various neighborhoods,” recalls Veronica Thomas. “The consensus seemed to be that Green Valley and Summerlin were the best places to live.”

On a weekend trip to check out the areas in person, Thomas found that neither area suited her. “Green Valley was far too congested for me,” she said.

“Summerlin was way too far from my job on the Strip. I’d heard that both had low crime rates but they weren’t that much lower than some other areas I found much more attractive,” she concludes.

There is nothing quite like first-hand information. If good schools are important to you, do the research yourself instead of relying on what others consider “good.” GreatSchools.org lists schools’ test scores and features reviews from parents.

Crime statistics can also be found online. The FBI offers a nationwide Sex Offender Registry on its website and Neighborhood Scout boasts that they “reveal the safety from crime for every neighborhood in America.” Finally, call the police or sheriff’s department in the area for more information on crime statistics.

Google Maps will allow you to map a route from the new house to your job, to a particular school or to the nearest shopping center and kick back the mileage and a rough estimate of the time it will take to get there.

A lot of your preliminary neighborhood research can be done online, but it’s not a substitute for actually checking out the neighborhood in person.

Drive It

Number three on the list of the 5 biggest mistakes homebuyers make when choosing a neighborhood is underestimating or ignoring the commute, according to MSN Real Estate. Their advice is to actually make the commute during normal commute hours to see if it fits your lifestyle.

Drive through the neighborhood at different times during the day and evening, on both weekdays and weekends, looking for anything that may be considered an annoyance.

Music blasting from a teenager’s open bedroom window when you’re trying to unwind after work may make you wonder why you bought a house in that neighborhood in the first place. Is the house under the airport’s flight path? Kids – and all that they imply – may be a blessing or a curse, depending on how you feel about them.

If you don’t drive, walk the neighborhood. Locate the nearest public transportation stop and see for yourself what the walk is like to the store and other local conveniences.

Check Municipal Records

Finally, check the neighborhood and surrounding area for anything that may impact the home’s value. Look for:

A high number of foreclosures nearby
Developments in the works
Upcoming zoning changes

Sure, it’s important to fulfill those dreams of the perfect house for you. But the bigger picture – a suitable neighborhood in an area that fits your lifestyle is what will, according to MSN Real Estate’s Melinda Fulmer, “determine whether you’re living the American dream or just living.”