Why the Holidays Are a Great Time to Sell Your House

In the world of real estate, you usually hear how it is best to sell your house in the spring months. Most people lay low or are too busy with the holidays during the winter months to consider buying a new home, and most likely prefer to home shop in the spring to ensure that they are settled in their homes before the start of a new school year.

But, life happens. What if you find yourself in a position where you can't wait for the weather to warm up before putting your house on the market? Is it a good idea to sell your home during the holidays? Surprisingly, there are many benefits to selling your home during the winter months. Here are reasons why it may be a good time to sell your house.

Buyers are Strongly Motivated

Anyone looking for a new home between Thanksgiving and New Year's is likely to be a serious buyer because no one is going to waste their precious family time looking at houses during the holidays. 

Putting your home on the market in the winter season and attracting a serious buyer can often result in a faster sale.

Less Inventory & Competition

Unlike in the spring and summer, there is usually less competition during the holidays. Many sellers do not want to list their homes just before or during the holidays, because of the obvious reason for simply wanting to spend time with their families and friends.

Again, you may hear that you can get the most from your home in spring and summer, but even if inventory is limited, there are plenty of homes listed around the holidays that may command a higher price. You may sell your home faster than those listed in spring if you play your cards right.

The Cozy & Festive Feeling

Holiday decorations can bring out the best in a home and attract buyers! Your home will look and smell wonderful if staged in a clever fashion. Turn the heat on, and bake a batch of cookies for an irresistible smell to pass through the home. Buyers can picture themselves better in a home that feels comfortable and cozy. 

Furthermore, the holidays can provide an emotional connection to a home, making a buyer feel more compelled to write and make an offer (and possibly pay more).

Year-End Job Changes

The end of the year is typically when people are informed that they will be moving due to a job transfer, or when an offer from another company comes in that is simply too good to pass up.

Those people will need a home sooner rather than later, so they will be looking for a new home during the holidays. These buyers can't wait for spring, which is why listing during the holidays can result in a quick sale.

In Closing

Despite what you’ve heard, selling your home during the holiday season has many benefits. You can face less competition, have more serious buyers, and possibly even a quicker sale process. You also have the opportunity to create a warm and cozy atmosphere that you can’t really create in the warmer months.

If you find yourself ready to sell your home this season, don’t shy away because you think it may be a failure! Speak with one of our Realtors today and let’s get your home ready to sell! 

HOA Communities: Pros and Cons

Are you considering purchasing a home in a community with a homeowner's association (HOA)? Make sure you understand how these organizations operate before making an offer.

An HOA is governed by a Board of Directors (homeowners elected by other residents), and it's their responsibility to set and enforce rules and maintain the grounds. These organizations are not only found in single-family home communities but in condominium and townhouse communities as well. You must also pay certain fees to live in these communities  So before you start looking for a new home, you should consider whether you want to live in a neighborhood with an HOA, which comes with both pros and cons.

Pros of HOA Living

1. HOAs Resolve Disputes Between Neighbors

When problems arise, (loose pets, loud and obnoxious parties, piles of trash by the road, to name a few), a homeowner's association can help.

If you notice another resident breaking a rule or regulation, the association can act as a mediator. Rather than discussing the problem with your neighbor and causing tension in your relationship, you can contact your homeowner's association, which will contact the neighbor on your behalf.

2. HOAs Have More Social Activities

Streets with an HOA often have a stronger sense of community than your average neighborhood. This is due to the fact that having an HOA encourages a sense of community. Not only do HOA meetings will help neighbors to get to know one another, but they also give greater opportunities for social events.

It wouldn't be out of the ordinary to see block parties and social gatherings on your street from time to time. It's also easier to connect with neighbors when you start sharing amenities like a pool, tennis courts, or a golf course. If you like meeting people and socializing, an HOA could be right up your alley.

3. HOAs Maintain Property Values

In HOA communities, homes, and common areas are consistently cared for and well-maintained because residents are held accountable to deed restrictions. Property values are heavily influenced by this maintained curb appeal. 

A well-kept home in a well-kept neighborhood is what attracts many home buyers to live in an HOA. You could say this is the biggest perk for most!

Cons of HOA Living

1. HOA Fees Can be Expensive

Unfortunately, many HOA communities can be expensive to join. High HOA fees, in general, entail more landscaping, general maintenance, and amenities. However, if you don't care about having a swimming pool or a gym, these high fees would be a waste of your money.

If a home has high HOA fees, make sure to get a list of everything that's included in the price so you know exactly what you're getting and if it even benefits you personally. In addition, carefully examine your monthly budget to ensure that you can manage to pay the monthly dues.

2. HOAs Have Rules and Regulations

If the monthly fees are reasonable, paying HOA fees may not seem as bothersome. You should be aware that the HOA has rules regarding the exterior of your home, even if you're fine with the fee. 

Color, type, and size restrictions may apply to your front door, shutters, and windows. Associations can even restrict your outside decor and the number of vehicles you can park. A fine may be imposed if you violate the rules and regulations of the community.

3. HOAs Can Lack Privacy 

It goes without saying that you will not have a lot of privacy if you live in an HOA community with homes practically touching each other, such as a townhome, apartment, or even some single-family homes.

Those who like a rural or country lifestyle and don't want to be involved with neighbors should consider homes with no HOA. The benefit of living close to your neighbors is meeting more people if you are more social and thrive in a community.

Is a Community Right for You?

Bottomline, HOAs aren't for everyone. If you want complete privacy or the ability to change the appearance of your home, you probably won't be content living in an HOA community. However, if you want a low-maintenance lifestyle, HOA living may be ideal for you. Whatever you decide, carefully consider the benefits and drawbacks of HOA living. 

As a final point, don't forget the importance of working with an experienced and knowledgeable Realtor. We look forward to assisting you on your home-buying journey!

3 Tips for Buying Commercial Real Estate

The term commercial real estate refers to property that is used for commercial purposes. This could mean storefronts, land with the potential for profit, and rental properties. Examples of commercial property would be office buildings, malls, grocery stores, and more. Commercial properties are also divided into five categories such as multi-family, office, hospitality, retail, and industrial. 

Commercial real estate is subject to different laws, financing, and taxes than residential real estate. While the purchase of this type of property is an exciting investment, it can be a lengthy and complicated process that the average person isn’t familiar with. Since there is so much to be known before making such a big decision like this, here are a few tips for purchasing your first (or next) commercial real estate property.

Know Why You Want to Invest

Before you begin searching and investing time looking for commercial real estate, it’s vital to ask yourself why you are wanting to make this investment and if it’s right for you. If you are unsure of your ultimate goals, you may want to reconsider. Here are some questions you may want to ask yourself: 

  1. What kind of property do I want?
  2. What do I plan to use the property for?
  3. How much of a down payment can I make, and is this feasible?
  4. Will I need a property manager?

Arrange Your Financing

It is important to ensure that you can afford your investment before starting your search. Securing financing ahead of time allows you to create a budget and compare your financing options before committing to a deal. To find the best rates, speak with several lenders and consider various loan types.

If you know what kind of financing options you have before you begin your property search, you will know exactly what you can afford and the process won't be stalled.

Do Your Due Diligence

When you begin your search for a commercial property, your real estate agent will show you quite a few before you settle on one you think is right for you. Refrain from feeling rushed to purchase the first one you see.

It is important to consider the price, allowed uses, condition, and location. In areas near downtown, hospitals, universities, and busy areas, properties sell more quickly and for a higher price. Ask yourself some more questions such as:

  1. Is it worth taking risks for the potential rewards?
  2. Is there another property that would suit my needs better?
  3. What has this property been used for in the past?
  4. Is there any maintenance that would be required immediately? 

316 Realty Group is Here for You

It goes without saying that identifying a property to buy can take time, a lot of money, and the help of a professional is definitely needed. Finding someone who is aligned with your goals is important. Finding and purchasing commercial real estate is a  complicated process with many facets, and you'd be better off working with an expert than trying to figure it out on your own.

316 Realty Group offers commercial real estate services in the greater Houston, Dallas / Fort Worth, Austin, and  Waco markets. You can rely on our team to help you develop an investment strategy, search for properties to purchase, analyze the deal, acquire concessions, negotiate the terms, and identify the best options. Contact us today, we look forward to working with you!

Why is Buying Land a Good Investment?

Investing in and purchasing land can be a difficult concept to understand. Most people have never given much thought to this concept. You might be wondering, "Is buying land a good investment?"

People aren't always willing to think outside the box with their money. You don’t always need to follow the lead of tv personalities, flipping houses, and doing outrageous home renovations. They make it look so easy, but no one is really talking about why land is a great investment.

Let’s go over some reasons why land is a wise investment!

Land Provides a Sense of Security

Land in its natural condition will always be valuable! There really is no extra effort required of you when owning a piece of land. Think of it this way, there is no renovating for you to do, no maintenance for you to take care of, you just own it.

The key to investing in land is to buy a property that can be improved one day. Whether you are holding onto the land for yourself, plan to pass it down to your family, or plan to sell in the future, it is a good idea for the land to be suitable for building on. 

Land is a Limited Resource

Land is a valuable and limited resource. There is no endless supply of land, and no one is making any more of it! As the population of the USA grows, the cost of land and availability of land will increase as well. 

Land is Tangible

No matter what the world decides about money tomorrow, land will continue to have value. Unlike stocks and shares, land doesn't disappear. 

Land is a tangible and physical item that belongs to you, regardless of the economic climate worldwide. Although the value of money and currency may fluctuate, ownership never does.

Land Value Increases

According to the most fundamental economic principle (supply and demand), raw land will inevitably increase in value as demand for the limited asset grows. Rather than asking whether land will appreciate, the question now is how much it will appreciate.

If you do your research to make sure the land you are purchasing is in a path of growth, future developers may find it very attractive. You could eventually make some easy profit selling it way beyond what you paid for it. 

Land is Less Competitive

While most people out there invest in condos, housing units, and house flipping, it’s not as common to buy a piece of land. As we mentioned at the beginning, today's TV shows have glamourized house flipping and it seems everyone wants to try their hand at it. 

In this case, taking the road less traveled can definitely work in your favor. 

Bottom Line

You may think investing in land is only for the wealthy population, but it can really be for anyone. It can provide you with a sense of security, it is a limited resource, it is tangible, its value increases over time, and it is a less competitive route to take. 

At 316 Realty Group, we are more than happy to assist you in finding land on any budget. If you want to learn more about buying land for yourself or simply for investment, contact us today! We would love to help you.

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!

Why Should I Buy a House in Texas?

Texas is attracting people. Its population is one of the fastest-growing in the country. In 2020, over 15% of houses sold were to out-of-state buyers! There’s no denying it, people are flocking from all over to experience what Texas has to offer. From the strong job market to the low cost of living, to the diverse culture, the list goes on. There are endless reasons people are making Texas their new home. Read on to learn more about why you should buy a house in Texas!

Strong & Diverse Job Market

The state's booming economy, which creates more than 1,000 jobs a day, makes it easy to find a job in Texas. Although the state's unemployment rate remains below the national average, many of those jobs pay well above average. Something you may not know about is all of the huge companies that have recently moved to Texas, including Charles Schwab, Oracle, Hewlett Packard Enterprise, CBRE, NRG Energy, AECOM, Tesla, and Apple! 

The diversity in the job market is astounding, and there is sure to be something for everyone. The fastest-growing industry sectors are information technology, engineering, healthcare manufacturing/construction, education, business, oil and gas services, financial services, aerospace, and real estate. A recent statistic by the Texas Workforce Commission also states that Texas added 62,800 total nonagricultural jobs in April 2022, marking the sixth consecutive month of job growth!

Low Cost of Living

You will find  that your hard-earned money stretches further in Texas, all thanks to s cost of living that is 8% lower than the national average (and 15th lowest in the nation!) You can expect to enjoy a higher standard of living in Texas, thanks to strong wages and lower prices for groceries.

People from out-of-state may be pleasantly surprised to find out that there is no personal income tax in Texas, which is just another reason their money may go further. This is definitely an incentive that attracts people to the great state. Nevertheless, Texas relies on property taxes, which can vary from 1% to 3.5% of tax appraised value, set by each county. There are also exemptions that can lower property taxes, such as those for agriculture, your primary residence, over 65 years old, disabled veterans, and widows.

Vibrant & Diverse Culture

The rich, thriving culture of Texas is largely due to its diverse population. There are 145 languages spoken in Houston itself, and the state of Texas as a whole has the second most racial and cultural diversity in the country (right behind California.) This proves that the typical Texas stereotypes of horseback-riding-country folk couldn’t be further from the truth!

Attractions & Activities

Whether you are a sports fanatic, an outdoor enthusiast, or a total foodie, you won’t find yourself searching to stay busy and entertained in Texas. From the Texas Longhorns to the Houston Astros, to the Dallas Mavericks, fans take their sports seriously here and there’s always a team to root for. 

There are also endless outdoor activities to stay busy year-round. There is no shortage of destinations for hiking, biking, horseback riding, and outdoor dining. Whether you have a family with children or are seeking the singles scene, there is more than enough for everyone in any given town or city.

Ready to Make the Move?

We could go on forever about what makes the Lone Star state so great, but you will just have to see it for yourself! Our team of real estate professionals with 316 Realty Group are equipped and ready to assist you in every step of your move. You might be interested to know that we actually helped over 100 west coast families move to Texas in 2021! 

In order to assist clients moving to Texas, we offer a seamless concierge service. Our goal is to make the transition to Texas as smooth as possible. Reach out to our team today so we can share with you all we have to offer. It is our passion to assist you in every way we can!