Please Enjoy my Oakland County MI Homes December 2014 Newsletter. This Newsletter is for your enjoyment whether your a past Oakland County Home Buyers or Home Seller and maybe a future one,which I would love to earn your trust in all of your Oakland County MI Real Estate Needs. Please feel free to pass it along to your friends and family. I hope you have a great Holiday Season filled with joy and laughter. If you know anyone looking to Buy or Sell a Home in Oakland County Michigan you can be assured I will take excellent care of them and I’m never too busy for your referrals. Thanks again
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Be Worth What You Think…
If you’ve been considering selling or refinancing your home, you may already have a price in mind. But beware. Your price might not be based on sound data. Here are a few cautions to consider before you get too excited about your home’s value.
- When you get a high valuation from agents, ask them to justify the price. The last thing you want is to list too high, because your property will languish and lose appeal, causing it to sell for less than market value.
- Comparables will tell you what other houses are selling for. Don’t argue with the comparables, but work with a real estate agent who understands the market trends in your area. If they know prices are rising, they might press higher. But if they know prices are stable, they’ll suggest pricing your house competitively.
- Price your home based on solds, not actives. Homes that are on the market now are not an indication of what they will sell for. Sellers often want to price their homes higher than a neighbor’s house, even though that house has been sitting unsold for months.
Pricing right, or even lower than market value (thereby creating interest and possibly a bidding war), is the easiest way to get your home sold. Your fear of leaving a few thousand dollars on the table upfront should pale in comparison to what could happen if you can’t sell at your “preferred” price.
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Your Spare Room
Perhaps the kids have moved out, but you’re not ready to sell yet. Or your condo is in a tourist area, and you don’t mind staying at mom’s every now and then. Perhaps you own a nice trailer parked in a quiet yard?
All of these are possible scenarios when you might have an extra room, or even your whole house available for a night or two. Someone else could be renting that space from you for $50-$300/night.
Airbnb.com is a site that has transformed our notion of travel. With Airbnb, you can list your home, or even just a room, for travelers from all over the world. They stay, you get paid. It’s a growing alternative to hotels and works particularly well for those places that are located in a desirable travel spot or one that attracts large sporting or entertainment events or conventions.
But the exciting news for those with a property “to spare” is the potential income generated. Some people are paying their mortgage by renting out their space a few nights each month. Others are making so much, money, they’ve added apartments onto their house.
If you’re thinking of taking the Airbnb plunge, be aware that the growth of the marketplace has also caused some backlash, not surprisingly, among hoteliers. Because of that, there may be rules in your city that affect what you can and can’t do with and Aribnb, including paying extra taxes. Visit Airbnb.com to learn more.
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1st Home?
This choice often comes down to a financial decision: Can you afford what you want?
But that’s not the whole story. There are more things to think about than just Can you afford it? If you—or someone you know—is trying to make this decision, email me for a copy of this eye-opening report.
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