The Benefits of Leasing Commercial Property

As a parent, you want what is best for your family. You want to provide them with a comfortable home and a good education. But you also want to be able to retire one day. For these reasons, it makes sense to invest in commercial property. Here are some of the benefits of leasing a commercial property: 


Many people invest in commercial property with the goal of earning a return through appreciation. Over time, commercial property value typically rises, providing investors with the opportunity to sell for a profit down the road. This appreciation can be especially helpful for those looking to retire, as it can provide them with a nest egg to help cover costs in retirement. While there are no guarantees when it comes to the real estate market, investing in commercial property is one way to secure your financial future potentially.


Tax benefits


As a commercial property owner, you are responsible for maintaining the property in good condition. You can deduct repair and maintenance expenses from your taxes, as well as the cost of any improvements you make. In order to deduct these expenses, you must keep accurate records of all the work you have done. Keep receipts for all materials and services, as well as any contracts you have with vendors. You will also need to keep track of the number of hours you or your employees spend on repairs and maintenance. When it comes time to file your taxes, you will be able to deduct these expenses, which can save you a significant amount of money.


Passive income


A commercial lease can provide you with a steady stream of income that can help you pay the mortgage, put food on the table, and send your kids to college. When you enter into a commercial lease agreement, you agree to rent out space in your commercial property to a tenant. The terms of the lease will specify the amount of rent that is to be paid and how often it is to be paid. In most cases, the rent will be paid on a monthly basis. The advantage of having a commercial tenant is that they are generally responsible for paying their own utilities and keeping the property in good repair. As such, you can be assured of a steady stream of income that can help you meet your financial obligations. While there is always some risk involved in any rental agreement, a commercial lease can provide you with a stable source of income that can help you make ends meet.


Equity buildup


As you make mortgage payments, you build equity in the property. This equity can be used as collateral for loans or lines of credit. When you borrow against your equity, you are essentially taking out a loan against the value of your home. The interest rates on these types of loans are typically lower than other types of loans, making them a good option for those who need to borrow money. However, it is important to remember that if you default on the loan, you could lose your home. As such, it is important to only borrow what you can afford to repay. When used wisely, equity can be a valuable tool that can help you achieve your financial goals.


Pride of ownership


Being a landlord comes with a lot of responsibility. You are responsible for the upkeep of the property, making sure that it is safe and habitable for your tenants. You also need to be able to handle any repair or maintenance issues that come up. But being a landlord can also be a very satisfying experience. You get to provide a place for people to do business and make a living. You get to be your own boss and set your own hours. And you get to build relationships with your tenants. If you are looking for a rewarding experience, being a landlord might just be the right fit for you.


If you’re looking for an investment that will appreciate over time, provide tax benefits, and generate passive income, then leasing a commercial property is worth considering. With careful planning and execution, commercial leasing can provide you with financial security and peace of mind.

7 Mistakes People Make When Searching for a New Home

Moving to a new home is an exciting time! But it can also be a stressful one. There are so many things to think about and prepare for before the big decision. It's easy to get overwhelmed. To help you out, we've put together a list of 7 common mistakes people make when they're searching for a new home. Hopefully, by avoiding these pitfalls, you can make the process a little less stressful.

Not being clear on what you want

It's important to have a good idea of what kind of home you're looking for before you start your search. Do you want a single-family home? A townhouse? An apartment? How many bedrooms and bathrooms do you need? What kind of amenities are you looking for? The more specific you can be, the easier it will be to find a home that meets your needs.

Not knowing your budget

It's also important to know how much you can afford to spend on a new home. Keep in mind that there are more costs associated with buying a home than just the purchase price. There are also closing costs, moving costs, furnishing costs, and more. Make sure you factor all of these costs into your budget so that you don't end up overspending.

Skipping the pre-approval process

Once you know your budget, the next step is to get pre-approved for a mortgage loan. This will give you a better idea of how much money you can borrow and at what interest rate. It will also help strengthen your offer when you find a home you want to purchase. 

Not working with a real estate agent

Trying to navigate the world of real estate can be tricky. There are so many different rules and regulations involved in buying and selling property. It's helpful to have someone on your side who knows the ins and outs of the process and can help guide you through it all. 

Failing to do your due diligence

Before making an offer on any property, be sure to do your research first! Has the home been inspected by a professional so that you know if there are any major repairs that need to be made? Research the crime rates in the area, as well as the quality of the schools if you have children. Look into the future development plans for the area as well—you don't want to find yourself living next to a construction site in five years! 

Making an emotional decision

Buying a new home is an emotional process, but it's important not to let your emotions cloud your judgment when making such an important decision. Just because you fall in love with a house doesn't mean it's the right house for you and your family—be sure to really think things through before committing to anything! 

Forgetting about resale value

Even if you're not planning on moving anytime soon, it's important to keep resale value in mind when purchasing a new home. After all, you never know what might happen down the line! If possible, try to find a property that will appreciate in value over time so that if and when you do decide to sell, you'll be able to get top dollar for it 


We hope this list has been helpful! Remember, moving is supposed to be an exciting time—don't let it turn into a nightmare by avoiding these common mistakes! If you do find yourself getting stressed out just take a deep breath and remember that we're here to help. Feel free to give us a call or stop by our office anytime —we'd be more than happy to walk you through the process so that you can enjoy your new home worry-free!

What You Should Know Before Buying a Foreclosure

Who doesn't want to save money when they're ready to buy a house?  A foreclosed house can appear to be an attractive option. There is no doubt that foreclosed homes sell for less, sometimes much less, than homes listed and sold on the open market by real estate agents and owners.

Unless you're a professional real estate investor, it can be difficult to purchase a foreclosed property. Some foreclosed homes have so much damage that the repairs required to make them habitable quickly deplete any savings on their sales prices. Plus, you'll be competing with others who make their living by buying, repairing, and selling foreclosures. 

As you can see, buying a foreclosure can be a huge challenge. Here are some tips you should know before buying a foreclosed home…

Foreclosed Homes Come With Risks

While a foreclosure is a profitable investment, it also comes with the previous owner’s problems. Here are some of the most commonly seen problems:

Financial Risks

Outstanding debts such as back taxes and liens are frequently attached to auction properties. As a result, an otherwise desirable home may be subject to further costs. Before the buying process can begin, any outstanding debts must be satisfied.

This primarily applies to properties that are being auctioned off. Before reselling a property, banks pay off any liens attached to it.

Physical Risks 

Keep in mind when buying a foreclosure that the risk may greatly exceed the potential reward.

If the home is still being occupied, it may be poorly maintained. If the people can’t make the payments, they could well be falling behind on maintenance and repairs.

Some people facing foreclosure are enraged, and they may take out their frustrations on their home before the bank repossesses it. This could mean taking appliances, light fixtures, and any other valuable pieces of the home upon departing.

Another thing to consider is if you buy a foreclosure at an auction, you won’t get the opportunity to inspect the inside, and you are buying the home sight unseen. 

Foreclosures Attract Competition

When dealing with desirable foreclosed properties, increased interest and competition is unavoidable, not only from potential occupants but also from investors and professional house flippers. Foreclosed homes priced competitively can attract many offers quickly, resulting in a bidding war, which can turn a bargain into a costly investment.

Purchases of foreclosed homes quite often fall through, so you could potentially see your desired property appear back in the inventory if you check periodically.

Foreclosure Purchases Can Be a Long Process

The closing of a foreclosure typically requires additional documents to be completed. On top of that, response times between the bank and other parties involved with real estate-owned properties can be pretty slow. You may have to wait longer than you’d like after putting in a bid on a property as well, especially if the bank is processing many other requests.

If you intend to finance the purchase, you should get a mortgage pre-approval. It is likely to quicken the process.

In Conclusion

Foreclosed homes can appear very appealing on the surface. However, costs can be highly unpredictable, and underlying damage may render a property unmarketable. Some people may reconsider buying due to the lengthy process, while others may be turned away by the high demand for attractive foreclosed properties.

Foreclosures can sometimes wind up being incredible deals. With all of this being said, our Realtors at 316 Realty Group are more than willing to assist you in the process. Reach out to us today and let’s get started!

Best Curb Appeal Ideas for Any Budget

It may come as a surprise, but improving your home’s curb appeal doesn’t have to be a very costly expense. There are endless tips and tricks you can use to make your home appear more attractive and sell faster than the rest.

If you want your home to have a memorable first impression on buyers, continue reading for some practical ways you can make your home stand out! 

Paint or Stain the Front Door

Painting your front food can add some vibrancy to your home’s overall appearance, and can revive the look of the entry area. You can choose a bold color that is unique but still coordinates with the feeling of your home. 

Applying a fresh stain to your door can also work wonders. A new stain can give off a very rich and cozy feeling. You can even add new and updated door hardware to transform the look of your door even more!

Update Light Fixtures or Sconces

Once you have given the front door its attention, it is a very easy and effective investment to replace the light fixtures or sconces. Whether it’s day, evening, or night, new and updated light fixtures can change the feeling of your entryway exponentially.

Replace House Numbers

House numbers are something buyers will look for right away when they’re finding your home. New house numbers are an extremely simple and smart way to boost curb appeal. 

New and updated numbers will not go unnoticed, as they can improve the overall visual of the home and it also shows you pay attention to detail and really put some thought into your improvements. 

Keep Hedges and Trees Trimmed

Keeping overgrown hedges and trees trimmed up is a must if you want your home to appear tidy and inviting. Trimming hedges can be very easy for the average person, but if there are any invasive or unideal placement of large trees, you may want to hire a professional to take on the job.

If your yard is lacking trees, it is a great idea to plant some trees in methodical places for a more attractive and cozy feeling. Trees can also increase your property value, especially if on the mature side.

Give it a Good Pressure Wash

We have all seen a house with years of grunge and dirt caked on the pavement or siding, and it's not a pretty sight! 

Whether you feel like taking this task on yourself, or if you hire a professional, giving the home's exterior, driveway, walkways, and even fences a good pressure washing will do more for your curb appeal than you even realize! Buyers will notice and appreciate how bright and clean all of these areas look.

Create an Inviting Porch

Whether you have plastic lawn chairs or wood, you can create a cozy space on your porch that looks inviting to buyers.

Take advantage of the season you are in and buy appropriate chair pillows, and strategically place plants on the porch or steps. Add a lantern to take it up a notch, or any other tasteful touches that work in the space!

Get to Work!

Boosting your curb appeal doesn’t have to be a headache, nor does it have to break the bank! Sellers can actually enjoy this part of the process, as watching the outside of their homes transform right before their eyes! Of course, there are countless more ways to improve the curb appeal of your home that we didn’t get to list here, but that can be part 2 for another time!

When you work with one of our knowledgable Realtors at 316 Realty Group, you will benefit from their guidance as well during the preparation of your home to sell. Reach out to us today and let’s tackle this together!

Can You Sell a House As-Is in Texas?

Are you wondering if you can sell your house “as-is” in Texas? Simply put, the answer is yes. Whether you have a fixer-upper or have recently inherited a family member's home, the goal is sometimes to avoid repairs, get a decent offer, and move on. 

In reality, selling a house "as is" usually means accepting a lower offer, and it still doesn’t prevent buyers from negotiating the price. Let's look into what "as is" means and a few other facets of this type of sale. 

What Does “As-Is” Mean?

“As-is” is a type of sale where it is clear that no improvements will be made to the property. The seller makes a choice not to accept any requests for repairs or provide any type of credit for fixes. 

When selling a home “as-is” the ultimate condition of the property, to the best of the seller’s knowledge, should be accounted for in its entirety. A sale of this type may indicate the functionality and lifespan may not be too favorable for a roof, or appliances for example. 

What Should Be Disclosed?

If you choose to sell your home “as-is” in Texas, you can’t necessarily sweep problems under the rug. You will still need to fill out a Seller’s Disclosure Notice prior to your home being listed by your Realtor. The form will walk you through documenting what you know about specific features in your home, conditions, and any problems that you as the seller are aware of. 

The Seller’s Disclosure Notice will also ask you to fill out information regarding roof and wall defects, termite damage, previous flooding, and the list goes on. No matter the route you take to sell your home, it is required that you make these disclosures to the best of your ability and knowledge.

What Homes are Usually Sold “As-Is”? 

It is highly likely that homes being sold “as-is” are the ones that are outdated, definitely not move-in-ready, or in sparkling condition. These sales are less attractive on the surface, but they are the type to attract investors searching for their next house to flip or buyers seeking a bargain because it may be in a great location or they see the potential it has to offer

People tend to sell their homes “as-is” when they don’t want to hassle with contractors, put money into repairs and upgrades, or just want to get something off of their hands that they inherited. You can see how someone else's “trash” really could be someone else’s “treasure” in this case!

Selling “As-Is” With Your Realtor’s Help

When you go approach selling your home “as-is,” you will want to make sure the real estate professional you choose doesn’t shy away from this type of listing. They will need to have a good network of investor connections and can go the extra mile on marketing because you will most likely have a smaller pool of buyers. 

Your Realtor may recommend you still make sure the house has a deep clean, decluttering, staging, fresh paint, and curb appeal. Although these efforts may seem minimal, they work in your favor in a big way and can provide you with more showings and a better return on investment.

Are You Ready?

You should now have some familiarity with some aspects of “as-is” home sales. Maybe you have a better understanding of if this is the best option for you. Whether you want to go this route and sell “as-is,” or if you’re ready to put in a little extra work to prepare your home to sell, our team at 316 Realty Group is ready to help. Reach out to us today and let us share with you our game plan!

Is “For Sale by Owner” a Good Idea?

The process of selling a home can be stressful. Many things have to go right to get the perfect buyer, especially if you're trying to sell quickly. On the surface, it can also seem like an expensive task. Many homeowners prefer to sell independently to avoid certain fees and costs. What homeowners don’t realize right away is that going the For Sale by Owner or “FSBO” route ends up being a waste of time and money, and could even come with some unwanted legal consequences. 

On the other hand, most people do hire a real estate professional to sell their home, because they know the process can be complicated, and having a professional's expertise and knowledge is well worth it in the long run. In today’s blog, we will go over what FSBO means and why it’s not as appealing as it may sound!

What Does For Sale by Owner Mean?

While For Sale by Owner is mostly self-explanatory, there are some aspects that any seller should be aware of before pursuing it. When you sell your home on your own, you avoid commission fees while also taking on all of the work and liabilities that you would pay a real estate agent to handle.

Besides researching comparable homes in your area and determining a price for your property, you will also be responsible for your own marketing, paperwork, and legal compliance. Slipping up and making a mistake in any of these areas can lead to financial and legal consequences that could otherwise be avoided with the assistance of a real estate professional. 

Does FBSO Work?

To keep it simple, taking the path of For Sale by Owner will not work out for most homeowners. The task of listing your home on your own can actually cost you more in the long run than if you hired a real estate professional. 

Take this example: you paid a 6% commission to your real estate agent, which you were excited to save, but your home is likely to sell for less than 94% of its asking price if you do not work with a real estate agent in the first place. You can see that a real estate agent’s knowledge and skill set is something that can not be replaced in the transaction!

Why You Need a Realtor

If you aren’t aware already, the help of an experienced Realtor is indispensable in selling your home. Here are some key reasons why you should consider hiring a real estate professional:

Pricing & Negotiation Skills

Pricing your home isn’t as simple as it may seem. The last thing you want to do is leave money on the table that could be yours! An experienced real estate professional will perform a comparative market analysis (CMA) to accurately and competitively price your home, taking into consideration comparable homes in your area. 

Some people may feel confident that they could facilitate a good negotiation, but make no mistake, negotiation is a skill that takes practice, and in the world of real estate, there are way more variables involved that the average person may not be aware of!

Marketing & Showings

If you attempt to market your home on your own, you may realize many buyers stay away from FBSO listings. You will be on your own when it comes to tackling a marketing strategy, (which is a huge factor), holding showings yourself, interacting with potential buyers, and answering their questions and concerns. 

Legal Paperwork 

When it comes to completing closing and transfer documents, you will wish you had a real estate professional on your team. You definitely want to avoid mistakes in this area, because it could lead to many repercussions. 

The Takeaway?

Most of the many common problems associated with FSBO can be avoided entirely by hiring a knowledgeable and trustworthy real estate professional. The value they bring to the table cannot be replaced and is well worth the commission costs. 

Before you consider going the FSBO route, be sure to consider these factors we mentioned above so you know the challenge you could be taking on! 

Our team at 316 Realty Group strives for each and every one of our clients as if they were our own family, and we would love to assist you in a stress-free sale of your home. Contact us today and let’s work together!

First-Time Home Buyers & Rising Inflation

If you're like many first-time home buyers in the United States, you're probably worried about what inflation means for you. How do you know how this will affect the purchase of a new home? It doesn’t really help morale when you hear the latest statistics about inflation. In April 2022, inflation accelerated by 8.3% more than in April 2021, keeping inflation near 40-year highs! 

In today’s blog, we will go over what inflation means for you, so you can better understand this concept, and move on with finding your first home. Let’s get started!

Inflation, in Plain Terms

Let’s first go over what inflation is. Inflation is the process in which prices increase over time. In other words, your money right now is worth less than when you first possessed it.

As consumers, we don’t like to witness inflation, but if you look at the big picture, some inflation can be a good thing. A healthy economy should always have some inflation, as rising prices encourage people to buy goods, houses, services, and more, instead of waiting until later. This results in more work that is available for producers, which means they can continue to hire. 

Inflation can be good if occurring slowly, and not too quickly. For example, think about your favorite coffee shop, that latte you pay $3.50 for suddenly jumps to $6. That would be a shock, to say the least!

Housing Impact

Inflation impacts housing prices simply because the price of materials used for the construction of homes goes up. 

Home appreciation is impacted because homes go through price increases, due to many variables. Such variables include the home’s condition, number of bedrooms/bathrooms, location, and condition. 

Home Buying Impact

As a first-time home buyer, you’re curious about what impact inflation could have on you buying your first home. Due to the nature of inflation, the prices of homes will continue to climb for a while. Mortgage interest rates will rise, which means taking out a loan will become more expensive as a higher interest rate leads to higher monthly payments. 

What to Do in This Market?

You're wondering what you should be doing as a first-time home buyer in this housing market. First, it’s s a smart move to pay off any existing debts, in order to have a better DTI (debt-to-income ratio.) This is an important factor a lender will look over when deciding to approve you for a loan. Make sure to avoid opening any new credit card accounts or making any big new purchases, this could harm your credit greatly. 

Be Honest With Yourself

As a first-time home buyer, and especially in the current market, your budget won’t be able to fit everything you want in your home. Make a list of what your home absolutely must have and cannot do without. 

Talk to your real estate agent about these aspects and don’t forget about fees and any funds you need to be aware of and may need to bring to closing.

Closing Up

This market may be intimidating for first-time buyers, and it may feel like you could be locked out of the market. High rates are combined with high home prices, and affordability is being pushed farther away right before us. If you have the means financially, you may want to start the search now and make a move. Contact our team at 316 Realty Group so we can guide you through the process of buying your first home, we promise you don’t want to do this alone!

How to Maximize Profit When Selling Your Home

Getting your home sold is stressful and tedious, and if we’re being honest, no one wants to be in that situation any longer than necessary. Fortunately, there are actions you can take to get into and out of the selling process swiftly and profitably at the closing table. 

The profits from your sale could be rolled into your new house, or fun another investment, so either way, it's worth making the effort to maximize profit! Keep reading to find out some ways you can maximize profit when selling your home!

Make Cost-Effective Improvements & Repairs

When it comes to the decision of where to put money into upgrades, keep in mind the kitchen and bathrooms are normally the most used rooms in the house. Dirty and outdated fixtures and colors are sure to turn away buyers and cause them to look elsewhere. Shopping for inexpensive but up-to-date fixtures and hardware will work in your favor and make your home stand out.

Keeping paint natural and consistent throughout the home is also another way to make your home more desirable and helps buyers envision their belongings in the space as well. 

Don’t forget that working on your curb appeal and some simple landscaping will go a long way, too!

Clean & Declutter

You want your home to be seen in its best light. Before showings begin, take the time to remove all clutter and unnecessary belongings from rooms, and organize to show off all the space your home has to offer. 

Pay attention to baseboards, vents, appliances, fans, and light futures, and give them a good cleaning to ensure they are free of dust and debris. 

Avoid Overpricing

This is where one of our professionals at 316 Realty Group will use their expertise. You may be biased because it's your home, but one of our agents will perform a CMA (Comparative Market Analysis) to help them estimate the value of your home, taking into account similar homes in the area. 

You must avoid setting your initial asking price too high in hopes of trying to get more than it's worth. Even in a seller's market like today, selling your home higher above the fair market value can lead it to sit on the market for much longer. Even pricing slightly below market value can attract more attention, and multiple offers give you more negotiating power.

You can count on having your home priced correctly and competitively with one of our knowledgeable agents. 

Choose the Right Time

Usually, the months in Spring are deemed the greatest time to sell, but this does not guarantee that it will be the best time to sell in your market. Buyer demand is influenced by factors such as school timetables, vacation buyers, and the weather.

To get the maximum money when selling your home, most importantly sell when you have enough equity to pay off your current mortgage, the fees of selling, and the costs of moving. Otherwise, you'll have to pay for many of these expenses yourself.

Final Thoughts

Among all of the actions you can take to maximize profit when selling your home, the most important by far is having a knowledgeable real estate professional who you like and trust to be on your side. Their expertise is indispensable when it comes to pricing, negotiating, marketing, and beyond. Contact us today at 316 Realty Group so we can work together!

Moving Tips for a Less Stressful Move

If you’ve ever moved, you know how it goes. The initial stages are full of excitement as you gather all of your belongings into boxes, and you feel ready and motivated for the work ahead! Once the more tedious work starts, you realize all of it will take a lot longer than you imagined. 

Once the moving day finally arrives, the long and drawn-out day of heavy lifting and sore muscles comes to an end, and you are left with a new home full of boxes! Life doesn’t stop either. You still have family, kids, pets, jobs, and whatever else is on your daily schedule.

It’s an undeniable fact, that with moving comes stress, and we want to share some tips with you to hopefully make the process less stressful!

Carve Out Time

Time is one of the most significant factors of moving stress. More specifically, there isn't enough of it! You can’t avoid it altogether, but you can definitely make it a lot easier on yourself if you make sure to allot yourself enough time to get everything done. 

Try and estimate how many days it could take you to pack up your home, and be sure to give yourself ample time to select and schedule a moving truck, set up utilities for the new home, and do a clean-up in your current home before leaving for good. 

Starting early is a smart way to go because it can be easy to procrastinate and find yourself scrambling to pack with just a few days left!

Prioritize Organization

In order to not feel overwhelmed,  try and pack up one room at a time. When sorting and labeling boxes, do it in a way that makes them easier to locate and unpack. Keep any important documents you may need in the near future in a safe and secure place, staying organized from the beginning will be a huge factor.

When labeling boxes, write clearly and even consider writing on the box the room they need to be placed in. The goal is to not have a truck full of identical boxes, which is sure to cause confusion and waste your time!

Pack an Overnight Bag

Once everything has been packed up and ready to move to your new home, it can be daunting to find what you need right away on that first day/night.

In order to avoid feeling rushed to unpack every last box on the first day, save yourself the stress and pack a bag with whatever you need to function normally for the first night or two. This could be outfits, toiletries, phone chargers, or even snacks. This will ensure you can unpack your belongings comfortably and not frantically!

Get Moving!

Above all else, when it comes to moving, you need a game plan if you want to minimize stress. Start early, one room at a time, clearly labeling each box! Keep some essentials in an overnight bag so you don’t find yourself frantically searching for those things on your first day. Also, contact utility companies to change or cancel services, and update billing addresses. 

Preparation and organization result in less stress and more time to celebrate!

Housing Market 2022: Should You Wait?

Low inventory, fierce competition, and major price increases have impacted homebuyers since 2020, but quickly rising mortgage rates are making it even more difficult to find an affordable house. Due to the higher rates, many buyers can no longer afford homes in certain price ranges. The issue is that even basic single homes now cost the same as more upscale homes did a few years ago, so purchasers are forced to choose between waiting for additional inventory to come online or moving to a more inexpensive neighborhood. Many others are hoping for a price drop, but that may not happen anytime soon.

But if you're a prospective homeowner waiting for the market to plummet, you may be wasting your time by doing so. 

It’s A Decision Personal to You

An investment in real estate is an extremely personal decision regardless of the market. After all, a home is the most expensive purchase most people will make in their lifetime, so being financially prepared is crucial. It would greatly benefit you as well to speak with a lender and even use a mortgage calculator to find out how much your monthly mortgage payments will be based on your down payment and interest rate.

Trying to time the market or predict what will happen next year is not the greatest way to buy a home. Instead, buy based on your budget and requirements. If you find a home you like in a desirable location that also meets your budget, it may be right for you. However, if you make too many concessions to obtain a home, you may wind up with buyer's remorse and feel burdened. 

Buying in a Hot Housing Market

A hard fact is that you can’t return a house if you realize you overpaid for it or you don’t like it! In this market, buyers tend to make hasty decisions which can inevitably lead to buyer’s remorse. 

Begin with a budget in mind and commit to sticking with it! Despite a minor increase in the number of homes for sale, purchasers are still faced with high prices and mortgage rates at the 6% level. 

Again, you must consider your financial situation when buying a home. Is it financially feasible for you? Experts generally agree that for many people, purchasing and owning a home is a better financial decision than renting. It is never a bad investment if you can afford it. 

Selling in a Hot Housing Market

The first step toward a successful sale is to find a real estate agent who has a vast knowledge of the area and who you know you can trust. The right agent will work closely with you to price your home competitively while addressing questions and offers from prospective buyers.

A hot market will be full of homes being sold “as-is,” and a lot of them will sell as such, but it is still a wise move to make smart and methodical decisions regarding updates and renovations. Some inexpensive moves could be fresh paint, clean staging, and organizing. 

So, to Wait or Not to Wait?

There are thousands of examples out there that point to people who thought the market would come down one day, but it never did, causing them to lose years of equity. In other words, if you're waiting for home prices to significantly decline, you could be waiting for a very long time. 

If you’re ready, our team at 316 Realty Group is more than prepared to assist you in the process of buying or selling, and we can form a game plan just for you. Contact us today and let’s get started!