Importance of getting your house valued when selling a house as is
Importance of getting your house valued when selling a house as is
While deciding to sell your house, there are certain aspects to consider for a good sale. Apart from maintaining the cleanliness quotient and ensuring all the electrical and plumbing phases are in working condition, the value of the house has to be estimated before you quote a price for it. The reasons why you want to sell your house, is the foremost consideration that is taken into account when determining the house value. The elements that need scrutiny before the valuation of the house can be made are: The location of your house, whether it is far from the city area or in the prime locations, would affect the assessment of the house. The age of the house and its current condition. The average per-square rate of the area in which your house is located. The facilities provided with the dwelling play a vital role in valuation. Whether the house is fully, partially or not at all furnished, whether it has a swimming pool, clubhouse or garden or no such facilities are available. Benefits The significance of getting your house valuated is that buyers tend to certain price ranges to fit their budgets and formulating a price close to the fair market value will better your chances of striking a good deal. All house sellers are advised that they avoid being caught up in the high price deals promised by their agents and brokers. This is because many times sellers get charmed by the high price quoted by agents thinking it is the best deal and often overlook the fact that the price quoted is way above the market value and hence will not be taken up by anyone. This in turn increases the time period of the sale, which might hamper the house’s market value even further and the sellers may find themselves selling their house for much lesser amounts than was possible earlier. Getting a professional with a good track record to value your house will not only ensure the correct price but will also save your house from being held due to a poor estimation. How to increase the value of your house You need to know the market and other house deals that have taken place in and around your area. This will help you self-analyze whether the rate estimated for your house is reasonable, even without the help of a broker. The next thing you need to decide on is a minimum price for your house. If the buyers cannot afford the stated price, they you can negotiate from that minimum price so that you still end up making a profit on the sale. You should enquire about the average selling time for a house in your area. If your home sale is taking much longer than the average time, then the problem could be the price, which would undoubtedly be higher than the market value. In order to increase the value of your house, compare it to other properties in the vicinity and alter the price if necessary. Sellers need to track market movements and make regular checks on the stock of unsold local inventory and price changes. The house tax, property tax, maintenance charges and other costs need to be considered during the evaluation.We will buy your house As Is Now in any condition including Ugly Homes. If you need to Sell Your Home Fast Orlando, Jacksonville, Atlanta, Charlotte, Cincinnati, For Lauderdale, Houston, Tampa and Fort Myers. Visit us at http://www.asisnow.com. Call 1-800-AS-IS-NOW (800-274-7669).
Source: www.ArticlePros.com
Is It The Right Time To Buy A Property
Till two years back, no one really imagined that property prices could decline so much That time it seemed almost unbelievable that realtors could actually offer so many discounts and freebies on properties But it has finally come true . .As there has been an immense decline in demand for property among buyers, realtors are taking all kinds of measure to create a surge in demand Big realtors are offering price cuts and discounts on properties and small and medium sized developers are offering freebies along with properties . . .Recently, DLF announced 20% price cuts in Gurgaon housing projects The company announced this move discourage existing buyers from defaulting on payment and induce new buying Not only this, the company has also cut prices in Bangalore, Chennai and Hyderabad by almost 20% In Bangalore, prices have been reduced to Rs 1, 850 per sq ft from Rs 2, 750 per sq ft . .While price cuts have been announced by biggies in the market, other developers are offering unusual freebies like a car free with a house For instance, RDB Developers in Kolkata has made a recent offer of giving a Nano free with its new housing project The company has decided to give the car ‘free’ with a flat for its first 50 buyers The company has booked around 50 Nano cars with Tata Motors for giving it free with flats in one of its residential projects in Sonarpur, South 24-Parganas Another realtor in Kolkata took a similar step and is offering free car space with flats . .Besides the developers, government is taking equal interest in boosting the demand for housing Not only they have declined interest rates but also prices by 10% India’s biggest lenders such as State Bank of India (SBI), HDFC Ltd , LIC Housing Finance, etc have reduced their loan interest rates . .With property prices falling and with such enticements being given to buyers, is it the right time to buy a property or not? . .As per experts, it is actually not .Contrary to conventional wisdom, experts are of the view that this may not be the right time to invest in residential real estate market Their advice is for both the first and second-time home buyers As per a recent report from PropEquity, a firm that maintains data on real estate, in the first quarter of the current financial year, the Mumbai market saw an average correction of 42 84 per cent compared to the corresponding quarter last year And, a report by Centrum Broking on Maharashtra Chamber of Housing Industry’s exhibition said, major developers such as Kalpataru, Lodha, Rustomjee and Acme Group were quoting prices 20 per cent lower than their card rate six months ago Godrej Properties had dropped the price it quoted for its Mahalaxmi project (Planet Godrej) by 34 per cent .Not only in Mumbai, according to the PropEquity report, prices in other major metros too have seen a significant correction in the past six months . .These areas include Gurgaon (24 per cent correction), Chennai (13 per cent) and Hyderabad (10 per cent) for the same time period As per Mr Hitungshu Debnath, executive director, distribution and wealth management, Angel Broking, "To begin with, the yields of residential properties are low They are between 3-5 per cent only " He added that if you take a loan from a bank and expect the rent income to help you pay the equated monthly instalment (EMI), you will need to rethink the math "The rent income along with property appreciation will not be able to cover even the interest that the investor will pay for the home loan in the first few years This is called as opportunity cost in real estate To get good returns, the buyer will need to hold on to the property for a long time, probably till the loan is repaid," says a property expert . .They also suggest that real estate prices are most probably going to remain stable for at least two years, that is, if the correction stops But if you are still not convinced and want to go ahead with the purchase, wait for just another six months They feel that by that time there will be some clarity on the economy as well as the real estate industry in this period .
Source: www.rsstnx.com
