James Whitener

Arizona Loan Officer

How to Market Your Home as the Perfect Rental or Investment Property

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Niche Marketing: How to Market Your Home as the Perfect Rental or Investment Property When a homeowner is preparing to sell a home, it can be beneficial to determine the target audience that is most likely to be interested in the property as an important initial step. In some cases, it is advantageous for a homeowner to position a home as a great rental property or investment property, but this requires the right strategy. By adopting a few niche marketing steps, homeowners can work with their trusted real estate agent to market a property appropriately.

Create A Cash Flow Sheet

Buyers who are searching for a rental or investment property are looking for a return on their investment in most cases, and they also may want to see how large of a down payment is needed in order for the property to realistically turn a profit. A real estate agent can work with a property owner to create a cash flow sheet that details all of this information for a buyer.

Show Comparable Rental Properties

A real estate agent can also research comparable rental data to help a property owner determine what a realistic rental rate may be. Property buyers want to know that the information provided to them in the cash flow sheet is realistic, and comparable rental data can give buyers the details they are looking for. More than that, this information may also show the average number of days similar properties stay on the market for rent and how many similar properties are available for rent in the vicinity.

Appeal To Agents Specializing In Real Estate Investments

Some real estate agents specialize in assisting investor clients, and some have standing clients that they actively seek great properties for. A skilled real estate agent may announce the listing to these agents so that they can bring the property to the attention of their clients. This focused marketing effort can yield considerable returns, but the real estate agent generally must take the initiative to contact these agents.

Some properties may be marketed as family homes or vacation homes, but others are well-suited for being rental or investment properties. Homeowners who are preparing to sell their home can work with a real estate agent to learn more about who their target audience is and how to market specifically for them. Those who are interested in learning more about how to sell their home quickly can set up a consultation with their trusted real estate professional.

The Top Tips For Impressing A Potential Buyer At Showings

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The Top Tips For Impressing A Potential Buyer At ShowingsFor those who are getting ready to put their home on the market, they want to make sure they get as much money as possible for their home. This means making a positive first impression. There is never a second chance to make a first impression. Therefore, homeowners need to make sure they do everything possible to “wow” potential buyers at open houses and showings. What are a few of the top tips that homeowners should keep in mind?

Listen To The Agent

Homeowners know their home the best. Therefore, they feel like they are able to show their home in the best manner possible. Even though they should have some input, homeowners are ultimately selling a building. They are not selling their memories.It is a prudent idea to listen to the agent. For example, the real estate agent may recommend staging the home in a certain way. The real estate agent may even recommend that he or she hosts the open house personally. Homeowners will need to listen to the experience of their real estate agent in order to have the best showing possible. 

Clean The Home Thoroughly

Homeowners also need to make sure they clean the home thoroughly. There is a high chance that the real estate agent may even recommend a cleaning service to scrub the house from top to bottom. Even though a potential buyer is probably going to clean the home after he or she buys it, nobody likes to see a dirty house. If there are any children or pets living in the home, try to eliminate all traces of them. 

Put Away Family Photos And Memories

Finally, homeowners also need to put away any family photos or personal items they have left out. When someone is looking for a new home, they want to envision what their life might be like in that home. This is going to be challenging if the current homeowner has family photos all over the walls. Remember, selling a home does not mean selling the memories in it. As a result, homeowners should try to put away their family photos and trinkets before the open house or showing. This will increase the chances of getting a great offer.

 

3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same Time

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3 Handy Tips That Will Prevent Serious Stress when Buying and Selling a Home at the Same TimeIf you’re in the process of simultaneously buying and selling a home, you may be in for the most stressful experience of your life. One UK-based real estate survey of over two thousand people found that buying and selling a house is more stressful than divorce, bankruptcy, a death in the family, becoming a parent for the first time, and even planning a wedding!

It’s not easy, but staying calm will help you to plan for your upcoming home purchase and sale and make the process easier. So how can you avoid the stress? Here are three strategies that will keep you calm, no matter what may happen.

Have A Thorough Plan In Place…

Much of the stress that you’ll experience will probably be the result of poor planning. You may feel stressed if you don’t have enough time to move or if you have to pay mortgages on two homes because your old home isn’t selling fast enough.

Before you get too far into the buying and selling process, talk with a real estate agent and ensure you have a solid plan in place for how you’ll manage buying and selling at the same time. Leave a time and expense buffer for unexpected complications – even if nothing goes wrong, it’s still nice to know you have some room to work with.

…But Be Ready To Improvise If Things Go Sideways

There are a number of ways that buying and selling at the same time might result in complications. Poor timing might mean you need to move out before you have a home to move into, or it might mean you don’t have the money for your new home if your old home hasn’t sold. Be prepared to rent a hotel room, take out a short-term loan, or move your belongings into storage if the sale doesn’t go according to plan.

Talk Out Your Problems With Loved Ones

In times of stress, it’s helpful to turn to friends and family for a helping hand. Studies have shown that having a strong social support network can mitigate the effects of stress, and even the Mayo Clinic suggests reaching out to loved ones when you feel overwhelmed. Don’t be afraid to ask your friends for emotional support, and whenever you have an opportunity to socialize, take it – you’ll find it easier to handle stress after a fun night out with friends.

Buying and selling a home at the same time is bound to be stressful, but an experienced real estate agent can minimize the agony. Call a real estate agent near you to learn how you can successfully buy and sell a home at the same time.

Recently Inherited a Home That You Don’t Need? Here’s How to Get It Sold Without Too Much Stress

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Recently Inherited a Home That You Don't Need? Here's How to Get It Sold Without Too Much StressHas a loved one or family member recently passed on and left you with their home? Inheriting a house can be a delightful gift, but it can also present a significant number of challenges that you must navigate.

Let’s explore how to deal with an inherited house and, should you decide to, how to sell it without incurring too much stress.

Are Emotions Involved?

The death of a family member or other loved one can be a trying time emotionally. Depending on how the deceased left the property, you may also have to deal with cleaning out personal belongings and reviving old memories. A battle over a will or the proceeds of an estate can compound the situation, making things worse.

If you are emotionally involved, it is best to work with a real estate agent who can do much of the heavy lifting. That way you can focus on supporting your family and keeping your stress levels down.

Understand Your Legal Obligations

Although real estate inheritance is common, there are still some legal issues that must be considered. As such, you will need to understand what your legal obligations are regarding the will or estate process. Are you the executor of the will, or is someone else? Is the property included in a trust, or is it free-standing and gifted directly to you? Has the probate period passed, or can a family member or relative still challenge the will? If you haven’t already, it is best to speak with a real estate professional or experienced lawyer to get their advice.

Consider The Tax Implications

As with any financial windfall, there are going to be tax implications that need to be considered when selling an inherited home. For example, it’s unlikely that you will qualify for the home sales tax exclusion unless you have been living in that house as your primary residence. Once you sell the home, you will also need to report the proceeds of the sale to the IRS. There are also a variety of different taxes that need to be factored in, including estate taxes, inheritance taxes and more.

Consult An Experienced Real Estate Agent

Selling a home that you have inherited in a will or as part of an estate can be an emotionally draining process. Before you make any moves, it is best to speak with a real estate professional. Contact our office at your convenience and we will be happy to meet with you and share our guidance.

Family Matters: The Pros and Cons of Selling Your Home to a Family Member

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Family Matters: The Pros and Cons of Selling Your Home to a Family MemberIt can be a stressful experience to put your home on the market and wait for offers in the hope that you’ve priced it right. However, for those who are considering selling to family members, the sale of a home can be fraught with just as much stress before and after sealing the deal. If you’re wondering if it’s a good idea to sell to a family member, here are some things to consider beforehand.

Providing A Discount

Whether you’re selling to a sibling or a child, you may be considering offering the home at a discount to help them out. Fortunately, since the discounted value will be different than the market value of the price, this may mean a taxable gain when it comes time for them to sell the property after a few years of residing in it. On the other hand, if your financial health is not the best, selling at a lower price to a family member can create an undue financial burden for you.

An Owner-Financed Sale

If you’re trying to help your child get on their feet, the option exists for an owner-financed sale where your child will be making monthly payments to you. This provides the benefit of not having to worry about a lender and avoiding interest rates on top of the payment. While this can be a great feeling as a parent to be able to help your child, it’s important to weigh the decision carefully to determine that your child will not default on the loan and it won’t be tiresome for you to act as the lender.

Keeping It In The Family

For most people, the home they live in has sentimental value, whether they’ve lived there for a few years or it’s been in the family for generations. That’s why it can be a great comfort for many to sell to a family member who will understand the house’s history and the family traditions. If the deal is going to put a strain on relationships, though, it may not be worth the well-being of the family to keep the home among the relatives.

It can be a comfort to sell a home to a family member and secure their well-being, but there can be financial hurdles involved that can have an adverse impact on the relationship. If you’re currently considering purchasing from a family member, contact your trusted mortgage professional for more information.

Seller’s Remorse: How to Move on From Your Old Home Once You’ve Sold It

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Seller's Remorse: How to Move on From Your Old Home Once You've Sold ItThere’s often so much enthusiasm that goes along with buying a home that the idea of leaving the old one behind is left in the dust. But, while you may love both your old home and your new home, it can be difficult to leave what’s old behind. If you’re struggling with adjusting to your new dwelling place, here are some tips for how to make it feel like it’s where you belong.

Purchase A New Piece

In all likelihood, you’ll be moving a lot of your old furniture into your new home, which means it will have all of the likely associations of your old home. While this isn’t necessarily a bad thing, it’s a good idea to do a bit of a refresh so it can feel truly different. Whether you decide on a new armchair or art piece, the choice is up to you, but make sure it’s something that will compliment your new place and make you happy to be there.

Leave No Box Unpacked

Packing and unpacking can be two of the most unpopular duties associated with moving, but getting to it right off the bat will ensure that you feel comfortable that much more quickly. Instead of leaving a bunch of boxes that you don’t know what to do within the garage or a hall closet, take the time to dig through them all and find a place for your items. The sooner your stuff is comfortable, the sooner you’ll be too!

Give Yourself Some Time

It may not be the most popular advice, but it’s going to take some time to adjust to your new home and that’s OK. Instead of being hard on yourself or regretting your choice, focus on the positive aspects of your home and allow yourself to get used to your new surroundings. It can be easy to forget why you bought your home if you happen to be feeling seller’s remorse, but in time it will be much easier to remember why made the purchase.

It can be difficult to leave an old home behind, but by taking the time to adjust to your new place and sprucing it up with an exciting new piece, you’ll be well on your way to making it your own.