Spring is practically here and you may have decided to sell your home since this is the time of the year in which the housing market sees the most activity. But before you can sell your home there are a few things you should do in order to prepare.

Deep clean

You’re going to have to clean your home anyway if you plan on moving, why not start now. Giving your home a full, deep clean will really help attract and keep prospective buyers. Start with cleaning all the windows, inside and out, power wash all carpets, and clean out your closets. Also, cleaner closets will give the impression of more storage space, which everyone is looking for in a home.

Stage your home for sale

Staging a home means you create a more appealing home for your potential buyers. Staged homes sell 25 percent faster than homes that were not. You don’t have to hire professional stagers, just create a more generic home by scraping the personal decor, like family photos, trophies and awards, and religious items. Increase curb appeal by cleaning up the landscape, replacing outdated house numbers, and fixing up your front porch.

Have your home appraised and set your selling price

In order to find a qualified appraiser, talk with your real estate agent. Agents usually have an appraiser they work with and can refer you to. You can help the appraisal process by providing them with plot plan or survey of your house, your most recent tax bill, your home inspection report, and the title policy. Inform the appraiser of renovations you have made like a new kitchen or roof, this will help increase the value of your home.

Keep your home clean

We all know how fast a clean place can become messy once again. Throughout the time your home is on the market, it should be open-house ready. You never know when a potential buyer may stop by for a viewing. Just take a couple extra minutes in the morning to make the beds, clean up any grooming products you have used, and make sure the kitchen is spotless. Also, make sure not only is your home decluttered, but as well as your closets. Above all else, you should keep your home smelling fresh and clean.

Leave your home during showings

It may be tempting to stick around and listen to what potential buyers have to say about your place, but it would be wise to leave. Your presence may make the prospective buyers feel uncomfortable and rushed. Leave for a few hours on open house day and let your agent do their job.

Taking the steps to owning a commercial real estate property can be a long process, but a very rewarding process. Whether you are looking for a large apartment complex or something smaller, here are four tips to help you along the way.

1). Know what you are looking for

The first step you need to take before your purchase a commercial property is to know what you are looking for. In order to know what you are looking for you have to ask yourself some important questions such as: what kind of location do I need? How much can you commit to the property? How much work/maintenance are you willing to put in? Are you ready and willing to make an investment of this size? Ask yourself these questions and more to know if your time to buy is now.

2). Learn the Lingo

When you begin your search for commercial real estate, you will run into a lot of vocabulary and acronyms you are going to want to familiarize yourself with. Here are a few to get you started:

Loan-to-value (LTV): Ratio of lender vs. total value of purchase

Debt Service Coverage Ratio (DSC): how much debt you will be able to cover every year

Capitalization Rate (Cap Rate): income of property / total value of property

Ad Valorem: A tax on the assessed value of property

3). Figure out your Financing

Most people will need to get some help to be able to purchase a property. If this is the case, you will want to find out what bank/credit union/mortgage company you are going to use. What will be your interest rate? If these financing methods aren’t for you, there is more than one way to finance a commercial real estate purchase. Contact Moncayo Homes to help you see other options that could be available.

4). Call Gay-Lynn Barnes for the Expertise you’ll need

Buying commercial real estate can be a long process. Some properties can get a little complicated. With struggles along the way, let Gay-Lynn Barnes and her team help you achieve your commercial real estate venture.

If you are looking to fulfill a commercial real estate dream, let Gay-Lynn Barnes help you along the way.

Did you know quick internet searches can tell quite a lot about current commercial real estate markets? Many companies use searches to discover a wealth of information to better target their products and services. When combined, this information can provide high-level sources on consumers and market trends around the world.

Various economic and business trends have been uncovered by researchers through online search data. Google’s Chief Economist Hal Varian demonstrated back in 2012 how search data could be used to track now-cast car sales and development in labor markets. Movements in the stock market have even been predicted by Google trends, according to a study done by researchers at Boston University and the University of Warwick.  

These searches can translate to the commercial real estate market as well. This search data could help investors identify proper locations and track overall trends in commercial real estate, globally. Data on how often and over what period of time commercial real estate is searched is readily available.

This information can be compiled and investigated in regards to commercial real estate in each city. This allows for comparisons of individual markets both to each other and to broader international trends.

Higher searches for commercial real estate in an area in a city could show investor interest in that area. This could also be assumed for the opposite. Because of this correlation between market performance and search volume, data provided by Google Trends is very useful. This city-level search could help provide a more narrow and local view of market conditions and investor sentiment.

Buying a home is a huge commitment, but an exciting one nevertheless. Whether you’re a first-time buyer or a veteran, there is always something to be learned about the process since it is ever changing. Today, there are many online tools that can help you find a home, learn about its history and the surrounding neighborhood. Here are a few of the steps you need to take before you can begin looking for your new home.

1. Start with your credit score

Your credit score shows habits when it comes to paying your debts. Your score is a number calculated from a formula based on information from your credit history. It is important to know your credit score before you begin your house hunting journey. A low credit score will lessen your chances of getting a good interest rate or your chances of getting financed at all. So it is wise to get your credit score early in case it needs some fixing.

2. Set your budget

Again, before you begin your house hunting journey, sit down and budget what you can afford. There are plenty of online calculators that can help you with this. For a more accurate number, get pre-approved by a lender who looks at your debt, income, and credit to determine what kind of loan is right for you. If you don’t accomplish this step first, you may begin looking and fall in love with homes you can’t afford. A good rule of thumb is to look for homes that cost about two and half your gross annual income. Also, another rule of thumb is that your monthly mortgage payments shouldn’t exceed 36 percent of your monthly income.

3. Line up cash

You’ll need to save up some money for a down payment, closing costs, and any other unexpected fees. Typically lenders like to see a 20 percent down payment, but many accept anything as low as three percent. Just as a warning, if you do plan to put down less than 20 percent you will be required to obtain private mortgage insurance. PMI is just a safety net for lenders in case you fail to make payments. Once you’ve saved for the down payment make sure you save for closing costs and any additional fees like appraisal fees, loan fees, attorney fees, inspection fees, and the cost of the title search. These fees altogether can easily add up to over $10,000. If you are having trouble coming up with the additional fees after the down payment, first-time buyers can receive up to $14,000 without paying a gift tax.

4. Find an agent

Most sellers sell their home through an agent. This agent works for the seller, not the buyer, so it is best if the buyer gets an agent for themselves. An agent will work with the buyers to help find a home, negotiate prices and maintenance, and deal with all the paperwork involved.  

5. Search for a home

Now that you have everything in order you get to move on to the fun process, searching for a home. Now, this can be a bit stressful, disappointing, and tiresome, but in the end, it will be well worth it. You should begin your search by discovering your desired neighborhood. Look for a neighborhood with economic vitality, along with a mixture of younger families and older couples, low unemployment, and low crime rates. Don’t be too restrictive on your search criteria. For example, select a price range 10% above and 10% below your true range. Add a 10-mile cushion to the location you specify.