Get the latest news in the October 2020 Ed Powers Newsletter Real Estate Update
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|Simple Ways to Start Investing in Real Estate in 2021
Maybe you’ve decided 2021 is the year you start working toward your financial goals and building wealth. Investing in real estate is decidedly one of the best ways to build wealth, but getting started is intimidating. Too often, people count themselves out of investing in real estate because they don’t think they have enough money to get started. The following are key things to know even if you don’t have a big initial investment.
Buy REITs To invest in real estate, you don’t always have to buy property. There is something called a real estate investment trust or REIT. A REIT lets you invest in real estate, but you don’t have physical property. They’re a bit like mutual mutual funds, except with commercial real estate.
For example, the company that makes up the REIT will own retail spaces or
|New vs. Existing Homes: Which Should You Buy?
If you’re considering the purchase of a home, you have one big decision to make as you get started, to narrow down your search. You have to decide whether you’ll buy a new home or an existing property. There are pros and cons to each, and you have to weigh them carefully during the decision-making process.
It used to be at one point that buying a new house was almost always going to be more expensive than an older house. Buying materials for new construction is less expensive now than in the past, so price alone isn’t necessarily a determinant or at least the primary determinant for many people.
What Are the Upsides of Buying an Older House? Some of the benefits of buying an existing, older home might CONTINUED >>>
6 Ways to Win a Bidding War
You’ve fallen in love with a house, and you put in an offer—only to discover that you aren’t the only one to feel that way. A lot of markets around the country right now are experiencing high demand and low inventory, meaning bidding wars are common.
A bidding war just means that a seller receives multiple offers within the same short window of time.
It’s great from a seller’s perspective. They can wait around and see how much buyers are willing to sweeten the deal.
It’s tough for a buyer. It means you’re probably going to pay more than you thought, and it’s stressful to be in limbo.
The following are 6 tips to keep in mind to win a bidding war if you find yourself in that position.
Get Pre-Approved by Your Lender One of the first things you should do if you’re going to be looking for CONTINUED >>>
How to Handle Your Home Sale Falling Through Selling a home can be an emotional and stressful experience. Then, finally, you find a buyer and you feel a huge sense of relief. You’re ready to pack up and move on.
What happens if your contract doesn’t actually make it to closing, however?
It’s easy to feel defeated and emotionally pretty upset, but you can bounce back.
Understand Why It Fell Through One of the big things you need to do to move forward is get a handle on why your deal fell through. This is important so you can prevent it from happening again.
Contingencies are what protect a buyer from running into often unpleasant surprises.
A few reasons why home sales fall through include:
• A home inspector finds something that would be expensive for the buyer to repair.
• Your home appraises for less than the sale price.
• There’s an open lien on your property uncovered by a title search.
• Your buyer’s financing falls through.
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
|March Real Estate Roundup|
|Everything You Should Know About Property Taxes|
|Reasons to Refinance You May Not Know About|
|The Best Ways to Save Money on a Bathroom Remodel|
U.S. averages as of April 2021:
30 yr. fixed: 3.17%
15 yr. fixed: 2.45%
5/1 yr. adj: 2.84%
Message me if your thinking about buying or selling a Fort Collins or Loveland home at m.me/EdPowersRealEstate