Turn Key property investments seem so easy and too good to be true. That’s because they are! Turn Key deals are not as easy as one would think, and in this episode, Alex Deacon guides you through steps YOU should be taking before investing in a Turn Key property.
Knowledge is your ultimate weapon when it comes to being successful in Turn Key investments. “The Deacon of Real Estate” weighs out the risk versus reward, questions you should be asking, and answers you should be demanding. Set yourself up for success! Don’t miss this episode!
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If you’ve been on the fence about buying a home, we have some excellent news for you! Recent changes in the market have made it an ideal time to purchase a home. So what changes have occurred that make us so confident?
Bidding wars have gone down significantly, even in the most competitive areas! Read on to find out more and if you haven’t already applied for a home loan application, click on over to our homepage to get started today!
It’s Going to Be a Sizzling Summer for Home Shoppers
Since early this Spring, we’ve seen a downward trend in bidding wars. This drop was likely triggered mortgage rates that crept up higher starting late last year. Though mortgage rates are still on the low end of the spectrum when looking at trends over the past ten years, the slightly higher rates were enough to put investors on ice and make some homebuyers hesitant.
The result is a much less competitive housing market! There’s been an overall 61 percent drop in “bidding wars” across the country…and that’s not all.
This Spring, houses are staying on the market two days longer than they did during the winter months. This change may not seem like much, but we haven’t seen an increase like this since January of 2015!
With houses on the market longer than they have been in years past, housing supply is up, further contributing to a less competitive market. Even areas that are notorious for bidding wars, such as San Francisco and Boston, have seen a dramatic decrease in receiving multiple offers per home.
Hot Housing News Gets Even Hotter!
Rates have also gone down. So despite home prices remaining on the higher end, home shoppers can still get a great deal.
ToRecap on Our Current Less Competitive Housing Market:
What this overall drop means that you have more options and negotiating power in buying the home you want, in the area you want, and at a monthly payment you can afford.
Just like the weather, home sales heat up during the summer. We recommend you apply NOW, lock in the rate, and start your home shopping before summer is in full swing. It’s easy to get started and can be completed online.
Even if you’ve never purchased a home before, you’ve probably heard the term “spring market.”
Traditionally, the warmer months were thought of as the only time to get into the real estate market, but that’s not always the case.
If you’re looking to buy a home without all the heat of a potential bidding war, here’s 3 main reasons why this winter just might be the best time to buy:
1. Sellers are more motivated
Calendars become packed around the holidays. Between social events and familial obligations, very few of us would want to add yet another thing to our already busy schedules — especially something as important as selling your home.
As a buyer, you can use this knowledge to your advantage.
Sellers who are willing to market their home during the winter usually need to move right away.
These sellers are moving for a reason — a new job, a progressing relationship, or a family emergency — that’s so important they’re willing to inconvenience themselves during the busiest time of year.
It stands to reason that, if they’re willing to compromise their time, they’ll probably be willing to negotiate on price, too.
While your real estate agent is ultimately the best person to help you decide how to make an offer based on your current market, it’s something to think about.
If coming in under budget is your top priority, buying in the wintertime is probably your best bet.
2. The house’s true colors come out
Let’s be honest: everything looks better on a sunny summer day.
The reason why most agents encourage their clients to sell during spring & summer is because it’s literally the best possible light.
You’re seeing properties in their prime — the most natural light, neutral temperatures, and landscaping in full bloom.
In the winter, sellers don’t have that advantage.
Buyers will know if the heat isn’t working correctly. They’ll know if certain windows are drafty, and with less daylight, there’s more of a chance buyers will see a property after dark.
As the buyer, you should always go into showings with a discerning eye, but shopping around in the wintertime can help make potential deal breakers seem more apparent.
If you’re buying in a cold, rainy, or snowy spot, you’ll want to give extra consideration to some winter-specific details about the home.
How much shoveling, if any, will need to be done if there’s snow? Will you need to contract with someone to bring in oil? Is the house drafty or well-insulated and seale?
Make note of these factors so they can weigh into your decision making process.
3. There’s less competition
Since spring is the dominant time to buy, there might be another unforeseen advantage: less competition.
Many buyers take the “wait until spring” approach and get started with the masses.
Whether it’s kickstarting a New Year’s resolution or timing a house hunt around the kids’ school year, you can bet that the market will be its most crowded in springtime, which means you’ll be fighting over inventory with everyone else who had the same idea.
While inventory can be more limited in the winter, so can the number of potential buyers you’ll be competing against.
Sellers will be grateful to have someone willing to brave the ice, snow, or chill (if you live in that sort of climate) to come see the property.
And since there are fewer interested parties, there’s less of a chance you’ll have to deal with a high-stress multiple offer situation.
Connect with nearly 600 other Real Estate professionals! Join Alex Deacon’s Real Estate Networking Workshop group on MeetUp.com today, and be the first to receive updates regarding Alex’s FREE monthly workshops!
Don’t miss the final Alex Deacon Real Estate Workshop of 2018!!! We’ve opened up the room for extra seating due to our growing attendance. Click below to connect with Alex on MeetUp.com, network with nearly 600 other Real Estate Professionals, and RSVP to the November workshop!
Virtual Bus Tour of Current and past rehabs
Saturday, Nov 10, 2018, 10:00 AM
Hampton Inn Bridgeville 150 Old Pond Rd Bridgeville, pa
34 Members Attending
We have done a few actual bus tours in the past but with the strong turnout I dont like to have to turn down folks due to the high volume of requests. Our next workshop in November we will do a virtual tour of some current and past projects and show you where to spend your money wisely and where you can and cant cut corners in order to stay profita…