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Fixtures In Real Estate: A Complete Guide Quicken Loans
5 days ago . 56 people watched
MARIA is an acronym used by some real estate professionals as an easy way to remember the criteria for determining if an item is a fixture or not
The M stands for “method of attachment.” When determining if an item is a fixture, look at how it’s attached to the home.
Deed Vs. Title: Know The Difference Quicken Loans
8 days ago . 50 people watched
What Is A Title? A title is a legal right to ownership of a property, including the right to sell
It’s not just real estate that comes with titles – boats, cars, and many other property items of value do as well
Legal purchase of a house transfers the title to the buyer, so if you do buy a house, the title will be yours along with the deed.
How COVID-19 Has Affected Real Estate And The Housing Market
1 days ago . 60 people watched
Real estate transactions typically require many in-person interactions from open houses and showings to appraisals, inspection and closings
As more states enact shelter-in-place orders, there has been an extreme amount of confusion surrounding the real estate industry
While the rising number of COVID-19 cases has created plenty of uncertainty
Bridge Loans: Everything You Need To Know Quicken Loans
6 days ago . 56 people watched
Bridge loans exist to meet immediate cash flow needs during the time between a demand for cash and its availability
While this short-term loan is commonly used in business while waiting for long-term financing, consumers typically only use them in real estate transactions.
Property Tax Exemptions: What To Know (2021) Quicken Loans
8 days ago . 59 people watched
Under the same provision of the tax code, you’re allowed to deduct local real estate taxes from your federally reported income
One limitation here is that you can’t deduct more than $10,000 total from your income under this deduction category
That’s including both your property taxes and local income or sales taxes.
EClosing Explained: How To Close Virtually Quicken Loans
3 days ago . 57 people watched
eClosings utilize a secure online portal to allow borrowers and lenders to electronically sign closing documents for real estate transactions
Digital signatures can come in many forms
Examples of acceptable electronic signatures include: Typing your name into the space for your signature
Uploading a snapshot of your signature to the document.
House (Property) Deeds: Everything You Need To Know
4 days ago . 52 people watched
The estate’s executor will disperse the assets and use this deed to transfer the property to the grantee
Tax deed: A tax deed is used when a property is sold due to delinquent taxes
Sheriff’s deed: This deed gives ownership rights to a buyer at a sheriff’s sale.
House Price Or Interest Rate: Which Is More Important
5 days ago . 54 people watched
Predicting which way the real estate market will move is tough even for the experts
While it might be tempting to wait for home prices to go down or the Fed to announce a rate drop, there’s no guarantee that your efforts will pay off
If you aren’t in a rush to buy a home, you can always take a “wait and see” approach, but keep in mind
Fair Market Value: What Is It And How Is It Calculated
2 days ago . 55 people watched
In addition to real estate assets, knowing the fair market value of your other investments like stocks and bonds can be valuable when it comes to managing your financial life
For example, when you are looking to invest, you should understand what the value of the product is as well as the asking price on the market.
Real Estate Agent Commissions Explained Quicken Loans
3 days ago . 54 people watched
A real estate agent can point out which things need to be fixed to ensure a quick sale
Price the property appropriately: A key service provided by a real estate agent is to determine the price a property should be listed for based on market conditions.
House Title: What It Is & How To Hold It Quicken Loans
2 days ago . 59 people watched
A deed is the actual physical document that you get on closing day in a real estate transaction, and it states – in legally binding terms – that you own the property
Deeds officially transfer title from the seller to the buyer and contain a detailed description of the property.
IBuying: What It Is And Why You Shouldn’t Be Scared Of It
7 days ago . 60 people watched
Real estate professionals are painfully aware of the fact that technology is disrupting the industry
The most successful realtors and agents are finding ways to incorporate technology into their practices to increase their efficiency and draw in more clients, but the rising popularity of iBuying platforms has led to a whole new wave of trepidation.
Gift Of Equity: How It Works Quicken Loans
9 days ago . 43 people watched
The Pros And Cons Of A Gift Of Equity Pros Of A Gift Of Equity
Avoid paying real estate agent commissions: Because a gift of equity often happens between two family members, these home sales often don’t require a real estate agent or an agent’s commission
This benefits the seller, who typically pays commission for both agents.
How To Write A Thank You Note To Your Realtor Quicken Loans
7 days ago . 60 people watched
Real estate agents and REALTORS® help us through just about every step of the home buying and selling process – and if you’ve ever tried to buy or sell a house by yourself before, you know it can be a lot of work.
If your REALTOR®, real estate agent or even real estate attorney helped you buy your dream home, sell your house or both, consider writing them a note to thank them for their
10 Virtual Staging Apps To Help You Get Ahead Of The Curve
9 days ago . 58 people watched
Smart real estate agents know that staging is an absolute must for every home sale
A survey from the National Association of REALTORS ® (NAR) found that 62% of listing agents agree that staging helps homes move off the market faster.
But when you have a vacant home on your hands, is it really worth it to invest time and money to stage it?
Probate Sale: What You Need To Know Quicken Loans
7 days ago . 50 people watched
If you’re a potential real estate investor thinking about buying property at a probate sale, it’s important to consider the risks and think about your level of real estate knowledge and terminology
But if you’re set on buying from a probate sale, make sure to take careful precautions
Assemble a highly qualified team, including an
What Is A Buyer’s Agent And How Do I Find A Good One
7 days ago . 55 people watched
A buyer’s agent is a real estate professional who guides a buyer through the process of purchasing a home
As a representative of a purchaser in a real estate transaction, a buyer’s agent has a legal obligation to protect the interests of the buyer and …
Is Real Estate A Good Investment
7 days ago . 32 people watched
Whether real estate investments are “worth it” depends on you
Your risk tolerance, overall financial plan, and needs determine if this is a viable option
Real estate is profitable and generally more reliable than other investment avenues
Whether you stay a small-property landlord or manage in high-demand communities, you
Encroachment In Real Estate: What Is It And What Can You
7 days ago . 57 people watched
In real estate, an encroachment occurs when a neighbor builds something either on or overhanging your property
An encroachment is a problem because it impedes the use of the property for the person whose land is being encroached upon
Encroachment Issues During A Home Purchase.
The Short Sale Explained Quicken Loans
5 days ago . 39 people watched
The buyer should work with an experienced real estate agent and home inspection professional to avoid unpleasant surprises
A poorly maintained short sale home can pose problems if the buyer is getting an FHA loan, which requires certain livability standards.
Real Estate Trends In 2021: What To Expect
8 days ago . 42 people watched
Here are some real estate trends to keep an eye on for 2021
Prices And Turnover Rate Still On The Rise
COVID-19 left the housing inventory in short supply in 2020, causing prices to spike
This trend is expected to remain throughout the winter and carry into the new year, as there is still a shortage of available housing with a higher-than
COVID-19 Having Housing Market Impact – Real Estate Market
5 days ago . 61 people watched
Real estate and the wider housing market have been no exception
COVID-19 isn’t just the top story, it’s the story, but before we get into hard data around its impact on housing and what it means for real estate agents, it’s worth taking a look at how we got here
It’s been a long, strange month.
Microflipping: What It Is And How It Works Quicken Loans
9 days ago . 57 people watched
Microflipping real estate is the digital form of wholesaling real estate
It’s a fast and efficient way to buy and sell real estate based on data found online
It doesn’t involve major renovations or large financial investments (outside of buying the property).
Grantor Vs Grantee: What They Mean In Real Estate
3 days ago . 50 people watched
In a real estate transaction, the grantor is the current holder of the property right, or in other words, the seller
The deed, which transfers ownership, is the grant
The grantee is the party who receives the transfer of the property after, in the case of sale, a closing occurs
In other words, the grantee is the buyer.
Real Estate Purchase Agreement: Know The Facts Quicken Loans
5 days ago . 61 people watched
In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction
The buyer will propose the conditions of the contract, including their offer price, which the seller will then either agree to, reject or negotiate.
Working With A Real Estate Agent Quicken Loans
1 days ago . 47 people watched
A real estate agent can make a big difference in the home buying process, and not just for the reasons you might think
First and foremost, your agent will help you find the right house
Agents have access to the MLS database, which means they know what homes are on the market, what features they have, and what they're
What Is A Pocket Listing
9 days ago . 24 people watched
Real estate agents have also used pocket listings to “premarket” a property to generate interest on it while the seller prepares it for the market or makes vital repairs
A seller may find a pocket listing beneficial as a way to price test a home and see if the property can generate any interest at their ideal asking price.
What Are Real Estate Comps
2 days ago . 26 people watched
Real estate comps are recently sold homes that are similar to the property you’re trying to buy or sell in terms of location, size, condition and features
Comps, an abbreviation of “comparable sales,” are used to determine a home’s fair market value …
Property Tax Deduction, Explained Quicken Loans
7 days ago . 48 people watched
Property taxes and real estate taxes are the same, and both terms can be used interchangeably
However, there is a difference between real property tax and personal property tax
Multiple Listing Service: What Is The MLS
9 days ago . 41 people watched
While the public cannot access the MLS, there is a way to view much of what is shown on it
Real estate portals like Rocket Homes SM pull data from MLSs to present it all in one place that is viewable to the public
People will be able to see photos of the home and much of the basic information like square footage, age
What Is A Kick-Out Clause & Who Wants Them
Just Now . 46 people watched
The buyer asks the seller for a real estate contract called the “home sale contingency period.” The period depends on market conditions and can range from 30 to 90 days
During this time, the seller can still continue to show the house.
What Is A Variance In Real Estate
5 days ago . 33 people watched
To understand what a variance is in real estate, first you need to understand the concept of zoning
You may notice as you drive around your town that similar buildings tend to be grouped together
Perhaps a certain section is dedicated to factories while another is primarily restaurants, stores and other businesses.
Right Of First Refusal (ROFR): What Is It
7 days ago . 41 people watched
A real estate agent might see you have the property that’s highly desired by a particular client and ask if you would be open to a ROFR agreement if the property went up for sale
A landlord might also try to entice renters by agreeing to a right of first …
What Is Real Property
8 days ago . 21 people watched
Real estate describes the plot of land and the man-made and natural resources attached to it, whereas real property describes an individual’s legal limits and liberties on how to use said real estate
Think of it this way: real estate is tangible land, buildings and garden beds.
Should You Buy A Home Without A Real Estate Agent
4 days ago . 50 people watched
A real estate agent is an individual who represents you in the home buying process
Your realtor will set up home viewings on your behalf, give you information on houses that pique your interest and help you negotiate the best price on the home you would like to purchase.
Delayed Financing: An Uncommon Refinance Option For Cash
9 days ago . 57 people watched
You might be a real estate investor who needs to ease your tax burden
If you buy and sell homes a lot, you might want to consult a tax advisor to see how delayed financing can benefit you
As an example, you can often deduct mortgage interest from your taxes
The Comeback: How To Handle The 12 Most Common Client
7 days ago . 54 people watched
As a real estate professional, you are confronted by critical comments all the time, but how you handle potential clients’ objections can make or break your business
Buying and selling are stressful experiences for individuals outside of the industry because they’re dealing with what is likely the biggest investment they’ll ever make.
Growing Your Skills As A Real Estate Agent During COVID-19
6 days ago . 59 people watched
Obviously, it’s an unprecedented time for everyone right now, including those in the real estate industry.Since it is yet to be seen how much COVID-19 will impact the real estate market in the long-term, and with most Americans at home, now is the perfect opportunity to take advantage of the downtime to check off a few lingering to-dos.
Fee Simple Real Estate Ownership, Explained Quicken Loans
5 days ago . 58 people watched
Buying real estate is always a risk, so it’s important to take many precautions when doing so
One thing to keep in mind is the importance of a clear title
Fortunately, this doesn’t come up in most U.S
home sales because most American homeowners own their properties in fee simple absolute.
When Is The Best Time To Buy A House
9 days ago . 36 people watched
RealtyTrac, a real estate information company based in Irvine, California, has been tracking single-family home and condo sales since 2000
According to RealtyTrac’s 2015 analysis, the best day of the week to close on a home is Monday
On Mondays, buyers will see an average discount of 2.3% below the full estimated market value at the time of
Stay Relevant With These 5 Real Estate Tech Trends
3 days ago . 50 people watched
Real estate professionals can maintain their relevance merely by keeping up with the times and staying informed about the latest technology trends within the industry
So, here’s a list of the five most important technology trends in real estate that will help you remain competitive.
Cap Rate: What It Is And How To Calculate It Quicken Loans
4 days ago . 59 people watched
To determine if a property is worth the risk involved in purchasing and operating it, real estate investors examine the property’s capitalization rate
A cap rate is a traditional method of measuring the value of investing in a specific real estate property
Although calculating the cap rate requires you to do some math, the formula is
Real estate owned properties are homes that have fallen under the ownership of a mortgage lender or investor. There are several ways this can happen, but a home doesn’t automatically become REO once a lender takes possession. In order to recoup losses and get rid of the property in short order, a lender will first try to sell the home at auction.
Real Estate Agents - Working Conditions. In a typical work setting, real estate agents: Have a high level of social contact. They are in constant contact with buyers, sellers, and other agents. Are often placed in conflict situations in which buyers and sellers may be rude or angry.
What to do to sell your house successfully?
What to Do to Sell Your House Successfully: 12 Universal Tips Virtually Every Homeowner Can Use Sign on with a stellar real estate agent-STAT. Hiring the right real estate agent should be first on every home sale... Use the 'invade your space' test to make sure you've decluttered enough. What's on your nightstand? A box of tissues,... More ...
What you should know before becoming a realtor?
Before becoming a realtor, know that requirements vary from place to place. However, all states mandate that candidates have a high school diploma and be 18 or 19 years of age. To perform real estate duties, the person must complete state-approved courses and pass an examination to earn their license.
How much does it cost to sell a house?
The cost ranges from about $500 to $1,000. The title company will run a title search on the property during the sale process. If a lien on your home is revealed, you’ll also need to settle it before you can sell the house.