How to find a home for sale before anyone else does

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SOURCE: Homes

Real estate professionals offer tips for beating the competition.

The United States has a significant housing shortage that, for now, shows little end in sight, creating intense competition among buyers looking for the perfect property. For some buyers, the only real shot at finding a home to purchase means striking before it hits the market.

Experienced real estate agents are trained to find homes that will be listed soon. But for the layperson, here are some ways to find a home for sale before anyone else does, according to real estate professionals:

Become a regular at estate and yard sales

Sellers typically follow the same steps just before placing their home on the market, one real estate agent said. The first step is usually cleaning the house, which often involves getting rid of unwanted junk.

Some homeowners will throw unwanted belongings in the trash, and others will try to sell them at an estate or yard sale. A savvy homebuyer should view a yard sale as an early detection, said Tezeta Roro, a New Jersey-based real estate agent at Keller Williams.

"Homeowners usually hold sales when they are thinking about minimizing and looking to move," Roro said. "Hit up a few."

Take a drive through the neighborhood

Clever house hunters should drive around the neighborhood they're looking to buy in and see whether any home has a dumpster or storage pods in front of it, said Tristain O'Donnell, an Atlanta-based real estate agent for Engel & Völkers.

O'Donnell said cruising neighborhoods is her "go-to technique when trying to uncover hidden inventory."

"These visual cues often signal that a homeowner is preparing their home for sale — whether it's a light refresh or a full renovation," she said. "In many cases, it could also indicate an investor flipping a property with plans to list it soon."

Monitor homes that are in pre-foreclosure

A foreclosed home is a property where the current owner could not keep up with the mortgage payments, the home loan went into default, and the lender repossessed the property. A pre-foreclosure is the period when the lender goes through official court proceedings to repossess a home.

"Since foreclosures have to be disclosed in public records, you can often look for and discover homes that are in pre-foreclosure," said Adam Hamilton, co-founder of rental property software company REI Hub. "That ultimately can give you the jump on being aware of the property before the general public."

Anyone can search for a list of pre-foreclosed homes at the county recorder's office, sometimes called the "clerk's office" or "register of deeds." The Multiple Listing Service, known as MLS, also keeps a pre-foreclosure tally, but the company charges an extra fee to access specific properties.

"The best real estate deals rarely start on the MLS," said Elena Novak, lead real estate researcher at PropertyChecker.com. "They begin where few buyers are looking. When a property appears neglected and the owner hasn’t lived there in years, that’s not a red flag; it’s often a strong lead."

Build a relationship with an agent

Agents who sell homes in the neighborhood you want to move to should have your contact information, experts say. Building a relationship with an agent beforehand can pay off once that person catches wind of a potential listing.

"They will likely know of folks looking to move or want an off-market, quiet sale," Roro said. "I have scored homes for my buyers during the height of COVID competition this way."

One sure-fire way to connect with agents is attending a real estate investment club meeting, said Ryan David, a real estate investor in eastern Pennsylvania.

"At these types of meetings, typically there will be agents focused on off-market sales opportunities, along with real estate wholesalers and real estate investors that frequently buy and sell properties," David said. "The goal of these local groups is to network and to pass along deals that the average person doesn't know about."

Use good old-fashioned networking

Real estate agents aren't the only professionals who will know when a house is coming up for sale soon.

"There are some house construction companies online that talk about their future builds for houses and neighborhoods," said Dylan Calvo, a Tennessee-based agent at the Realty Association. "Follow them, look at their websites, and become friends with them. Be the first to know about it."

But the list of professionals doesn't stop there, Roro said.

"Don't underestimate the folks you interact with regularly, such as your cleaner, landscaper, mailman, hairstylist, barber or dentist," she said. "Mention what you are looking for. They may know someone looking to make a move."

Scour social media and online neighborhood groups

Some of the world's most popular social media applications have pages dedicated to specific neighborhoods. Users post things for sale and local happenings, including if someone plans to move. Reading posts on those pages might give a crafty buyer an early clue as to who will be selling their home soon, the experts said.

"Home buyers can also post in these groups with their ideal home and budget," Roro said.

SOURCE: Homes

Thinking of Buying an Older Home? Here Are Some Things to Keep in Mind

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SOURCE: Realty Times

When searching for the next house to call home, the options can be daunting. Location, size, amenities, and price all play major factors in the decision process. Opening the home search to older constructions can increase your options. However, the older a house is, the likelier it could be harboring issues beneath the surface. We’ve compiled the top seven things to keep in mind when considering purchasing an older home.

Foundation and Structural Issues

Issues with the foundation or structure have the potential of costing a lot to fix. Since the foundation and structure are what is keeping the house upright, it is crucial that they are stable and sound. Cracks or unevenness in the foundation can lead to moisture damage, dry rot, corrosion, and shifting of the house. Signs of foundation or structural damage can be found in doors or windows that don’t open and close easily, cracks in the wall or flooring, and uneven floors.

According to Safewise, “Foundation repairs can escalate to over $10,000, depending on the extent of the structural issues- and homeowners insurance won’t cover these costs.” If foundational issues are suspected, be sure to hire a quality inspector or contractor to check out the home. Consider getting a quote for repairs and negotiating the cost into the purchase price of the house.

Electrical and Plumbing Issues

Many older homes have their original plumbing and rewiring, as updating these systems can be costly. However, keeping the original knob-and-tube wiring or the original cast-iron pipes can be a safety hazard. Old electrical systems can cause a fire, and old pipes can cause leaks or weak water pressure.

Beware of older homes whose electrical and plumbing systems have been updated by a do-it-yourself homeowner. Be sure to ask if the work was done by a qualified professional.

If the home has original electrical and plumbing systems or has been updated by an unqualified individual, ask an inspector to evaluate the systems. If they need to be replaced or repaired, consider getting a quote and negotiating the cost into the purchase price of the home.

Hazardous Materials

The older a home is, the more likely the chances are of it containing hazardous materials, such as asbestos and lead. Lead is commonly found in paint applied before 1978 and in plumbing installed before 1985. The lead can leak into the water supply or the surrounding environment, causing a potential health hazard. Asbestos can be found in gas fireplaces, roofing, and insulation that was installed before 1980.

Radon

The breakdown of uranium in the environment can cause a carcinogen known as radon. If radon gas gets trapped in a home, it can be dangerous. Homes built before 1970 were not built with this risk in mind, so they are more susceptible to a gas build-up that could potentially be harmful to its inhabitants.

Outdated Heating and Cooling Systems

Older homes were likely designed for a different type of heating system than what is common today. One hundred years ago, houses were heated with oil. After that, it was common for houses to be heated with coal or wood. Even in a home with a more up-to-date heating system, if it hasn’t been maintained well, it could be inefficient, unsafe, or both.

Houses with cooling systems are likely to be a bit younger than oil-heated homes, however, cooling systems are known to have their own issues. Five common problems with older AC units include wear and tear, improperly working fans, reduced efficiency, refrigerant leaks, and electrical problems.

Dysfunctional Alarms

Smoke alarms and carbon monoxide detectors are important safety devices in any home. When looking at an older home, be sure that both smoke alarms and carbon monoxide detectors are present and in working order. Although not necessarily expensive to replace, asking homeowners to replace unsafe alarms will save the homebuyer the hassle later, and could potentially save someone’s life in the meantime.

Termites and Bugs

Depending on where the home is located, termites and other bugs could be a major issue. The National Pest Management Association claims that termites alone cause around $5 billion in property damage yearly.

The older a home, the longer it has been exposed to the chance of infestations. Termites especially enjoy soft wood, so a home that has had water damage over the years could be especially susceptible.

SOURCE: Realty Times

May Market Report with Chris Doucet

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May 14th Weekly King County Market Watch NW marketingcenter--

Why Some Homes Sell Faster Than Others

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As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says:

“. . . today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix: Some homes are flying off the market, while others sit for weeks.”

That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly.

Homes Are Still Selling Faster Than Pre-Pandemic

The first thing you should know is that, in most markets, things have slowed down a little bit. While you may remember how quickly homes sold a few years ago, that’s not what you should expect today.

Now that inventory has grown, according to Realtor.com, homes are taking a bit longer to sell in today’s market.

But before you get hung up on the ten-day difference compared to the past few years, Realtor.com will help put this into perspective:

“In April, the typical home spent 50 days on the market . . . This marks the 13th straight month of homes taking longer to sell on a year-over-year basis. Still, homes are moving more quickly than they did before the pandemic . . .”

By this comparison, if your house does take a little more time to sell this year, it’s not really a concern. It’s actually still faster than the norm. Plus, it gives you a bit more time to find your next home, which is welcome relief when you’re trying to move, too.

Just remember, some homes sell in less time than this. Some take even longer. So, what’s the real difference? Why do some homes attract eager buyers almost instantly, while others sit and struggle?

It comes down to having the right agent and strategy. Here are a few tips you need to know. 

1. Price It Right

One of the biggest reasons homes sit on the market is overpricing. Many sellers want to shoot for a higher price, thinking they can lower it later – but that backfires by turning buyers away.

What to do: Work with an agent to make sure your house is priced right. They’ll analyze recent comparable sales (what other homes have sold for recently in your area), so you know you’re pricing appropriately for today’s market and what buyers are willing to pay. As Chen Zhao, Economic Research Lead at Redfin, explains:

“My advice to sellers is to price your home fairly for the shifting market; you may need to price lower than your initial instinct to sell quickly and avoid giving concessions.”

2. Focus on the First Impression

A messy yard or a house that needs paint? It’ll turn buyers off. Since buyers decide within seconds whether they like a home, a good first impression is key.

What to do: Outside, clean up your front yard, tidy up your landscaping, power wash walkways, and add fresh mulch. Inside, declutter and depersonalize. And consider minor touch-ups like repainting in a neutral tone. Your agent will offer advice on what to tackle.

3. Strong Marketing & High-Quality Listing Photos

If your listing or your photos don’t look professional, you could have trouble drawing in buyers who think you’re trying to cut corners.

What to do: Instead, lean on your agent’s skills, expertise, and resources. They’ll help you make sure you have:

  • High-resolution listing photos showing the home in its best light.

  • Detailed descriptions that highlight differentiating features of your house.

  • Your listing on multiple platforms, including major real estate sites and social media.

4. The Location of the Home

You may have heard the phrase “location, location, location” when it comes to real estate. And there’s definitely some truth to that. Homes in highly sought-after neighborhoods tend to sell faster.

What to do: While you can’t change where your house is located, your agent can highlight the best features of your neighborhood or community in your listing. By showcasing what’s great about your area, they can help draw buyers into what life would look like in your house.

Bottom Line

Homes that sell quickly don’t necessarily have better features – they have better agents and a better strategy.

Are you thinking about selling? Connect with an agent to talk about how to get your home sold quickly and for top dollar.

SOURCE: Keeping Current Matters

How 3 Designers Would Perk Up Your Patio Decor for Around $300

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SOURCE: Realtor

If you don’t want to look back on this summer with serious FOMO, it’s time to give your outdoor space a little love. Below, three designers share their favorite patio decor ideas for around $300.

If you have outdoor patio furniture, but need a vibe: Accessorize! 

Chicago-based interior designer and stylist Kyle Schuneman recommends small and playful additions to make your patio feel fresh without a total overhaul. Start by grounding the space with an outdoor rug. “This will immediately dress up your space and is a much cheaper option than trying to fix up a patio floor or deck,” he says. “Keep it neutral with a simple pattern so it can work with what you already have.”  

Next, add an outdoor pouf or two. Not only are they great for putting your feet up and for extra seating, Schuneman says, “they also add pattern and color to make things pop.”

For a final touch, reimagine your mismatched pots. “Spray paint them a few different shades of the same color for a rich, layered effect.” Schuneman suggests creams, taupes, or grays.

If you want to keep the fun going after sunset: Install overhead lighting.

There was one thing on every designer’s list for a charming patio: lighting. “Lighting is as important outside as it is inside and makes things cozy at night,” says Schuneman. There are plenty of options to choose from, but Philadelphia-based designer Michelle Gage likes installing overhead lighting to add sparkle to your outdoor space. “They let the party continue after dark,” she says. 

Depending on your current setup, you may already have everything in place to string the lights—wood posts to screw in a few hooks or a tree to use as a solid wrapping point. If not, you’ll have to purchase a set of poles specific to the ground your patio is sporting. Either way, you’ll want to invest in a couple of mounting kits and some weatherproof lights.

SOURCE: Realtor