Category Archives: Tips

 

Last week we posted Part 1 of “4 Questions To Ask Your Broker Before Listing and How Do Their Answers Compare to An All Cash Buyer?” We recognized however that this list was short, and there are probably a lot more questions going through your head about what to ask your real estate broker. Therefore, we have decided to continue with a Part 2 series, identifying the next four most important questions you can ask your broker; and again, outlining how our process differentiates from theirs.

In case you missed Part 1, here is what we covered: What are your fees? Can you explain the process of selling to me? What’s the best price you think my home can sell for? Can you guarantee that price? How long do you think it will take to close on my home? So, without further a dew let’s look at a four more questions to ask your broker.

1 – What is your average list-price-to-sales-price ratio?

For this question there is no single answer that is correct – the answer depends on the real estate agent you are interviewing. However, it is vital to recognize the importance of their response. To get started, you need to understand: What is a list-price-to-sales-price ratio? This is the correlation between the listing price the agent will take your home to market versus the price they will actually close on. An accurate assessment of your home’s value would bring this ratio close to one, or 100%. If there is a large discrepancy in this number, it should be a sign that the agent you are interviewing is not the right one for you.

At Gulf State Homebuyers, we match our offer. We have valued hundreds of homes and are constantly staying active and knowledgeable on current market trends. Therefore, the offer that we provide is the price that we close on.

2 – What marketing tools will you use to market my home?

An effective broker will have an array of marketing tools that they will use to effectively market your home. These tools can include: creating appealing brochures of your home and sending them to their list of active agents and investors, committing to open houses, and/or posting your home on various online platforms. You will want to be sure to fully understand the strategy they will be using. An agent who does not utilize every effective method may be leaving your money on the table.

We make this simple. We use no agents and we do not need marketing material. We have the capital to buy your home at the price we offer. This allows you to be stress-free about whether or not your home is being marketed competitively.  

3 – How will we be communicating and how often will you send me updates?

This may seem like a silly question. However, since all agents and brokers are different, it is key that you understand how and when you can expect your agent to communicate with you. Again, there is no exact approach to this – it all depends on your preference. Nevertheless, be sure that your agent understands your expectations before getting started with him or her.

First let’s recognize that selling to an all cash buyer reduces stress because the process is condensed to as few as five days. Our communication is simple and direct. To get started, we assess your home’s value and send you our offer. If you accept, we prepare the paperwork then contact you so that you can come sign and collect.

4 – What are the closing costs?

Closing costs on a home in Texas can range from 2% – 5% of the homes purchase price. Remember though, this is in addition to the agent fees you will be paying. Ensure that you fully understand what you as the seller are responsible for so that you can have an estimate of the profit you will actually make after selling your home via an agent.

Selling to us you are responsible for ZERO closing costs. We cover all fees associated with closing the home. As said multiple times, the offer we provide is the amount you get to take home in your pocket.

The most important recommendation we can make to anyone considering working with an agent is that they fully understand the process of selling their home, their responsibilities and their agents’ responsibilities, as well as the fees they will be paying. There are so many factors that can impact the sale of a home on the open market and the wrong decision can lose you, the home seller, money.

However, if you want to make the sale quick and simple, contact us today and we can help you get into your next home quickly!

 

This year has brought attention to new and improved upgrades for homes around the United States. Some of the top renovations for 2019 are changing the way homes interact with homeowners, while others are just popular changes in the home that home buyers are seeking. Historically in homeownership, upgrades were related to new paint jobs and remodeling; however, this year the residential real estate market is also seeing an increase in more expensive upgrades related to technology and appliances. In this article we will outline the top four renovations for 2019, and the pros and cons of upgrading versus moving!

 

2019 Renovations

 

1. Hands Free Technology: This has been a trend that has grown over the last ten years. SMART technology is transforming the way that homeowners live, creating opportunities for almost all aspects of their home to be voice activated. Hands free technology is making living simpler and more enjoyable.

 

2. Utility and Appliance Upgrades: Green is in! And homeowners that are not implementing green technologies in their homes are the ones struggling to sell to millennial home buyers. From eco-friendly appliances to new and improved HVAC systems, going green is one of the hottest trends in 2019.

 

3. Kitchens and Bathrooms: These two upgrades make the top renovations list year after year. This year homeowners will be continuing to implement open spaces in the kitchen, along with replacing old stainless-steel appliances with sleek black ones. In the bathrooms, homeowners are investing in eco-friendly, natural feeling spaces.

 

4. Creating Warm Spaces: This trend outlines a variety of upgrades and changes homeowners are anticipated to make this year. The simplest installment of this trend is via adding light wood flooring and warm color paint. The larger renovations include adding circadian lighting, which is a new technology that produces indoor illumination that mimics the natural light and warmth of the outdoors, and the installation of bigger windows, which provides more opportunity for natural light to flow into the home.

 

Unfortunately, many popular remodels may simply be too cost prohibitive to consider in an older home. Before taking the plunge into renovating your home, assess the pros and cons of upgrading versus moving.

 

Drawbacks to Renovating an Older Home

• Renovating an older home can be costly, and upgrades are limited.
• While conducting inspections for upgrades there is a high probability that the inspector will find additional problems in the home that may need your attention prior to the upgrade. These unexpected issues can prove to add unwanted costs to any upgrade.
• Depending on your stage in life, adding the technology and green appliances may not be financially beneficial. If you are in your later years, your return on investment may be too far out.

 

Benefits to Renovating an Older Home

• Many people have an emotional connection to their home. Completing the upgrades can help you stay in the same house.
• You can have control over the upgrades, picking and choosing what is best for your future.

 

Drawbacks of Moving to a New Home

• Selling your home can be timely, and if you are emotionally connected, it can be challenging.
• You may have to pay for the move – agent fees and escrow fees can be costly.

 

Benefits of Moving to a New Home

• Newer homes require far less maintenance.
• You can move into a home with the latest and greatest technologies and home improvements. These upgrades can also assist in reducing monthly bills and will generally last longer than older appliances.
• Change is good. It can provide a new positive outlook on life, and give individuals the chance for a fresh beginning.

 

If you are challenged with which option to select, we may have a solution that can help you decide. We here at Gulf State Homebuyer’s are currently purchasing homes, new and old, damaged and in prime-condition. Many homeowners are reluctant to move into newer modeled homes because of the fear of the time and money it takes to transition. However, we provide homeowners the opportunity to move with no unexpected fees, and in a quick manner. Our offers are competitive and generally prove to be the solution to help get people into the next home of their dreams.

 

There is no need to waste time and money on this year’s hottest upgrades when you can purchase a home that already has them! If you want to get your free assessment for your home and identify if moving is an option, contact us today.

 

Moving into 2019, selling your investment property may be your best option for the year! Here are the top five reasons our clients have recently been found selling their investment assets.

Reason #1: Poor Tenants

Do you have tenants that do not pay rent on time or who are destructive to your home? If you find that you are stuck with poor tenants, we have a solution. We buy homes that have unwanted tenants

Whether it is for legal or financial reasons, getting out a bad tenant is not as easy as some would expect. Due to tenants right, it can take months to get an unwanted tenant out of the home. Within those months, many homeowners incur unavoidable fees associated with their investment home. Selling with poor tenants can relieve you of the legal hassles.

Reason #2: A Vacant Investment Property

Vacancy in an investment asset can drastically impact the financial benefits that investment properties are supposed to bring. Actually, a vacant home can bring major consequences to your property. If you were receiving the monthly rent to cover the mortgage, you will now need to find alternative ways to obtain that capital. Additionally, you are now responsible for all bills related to the home.

If you have a vacant home, you could find a new tenant. Though, depending on the reason that the home is vacant, this can be both costly and timely. You may need to invest in making repairs and hire a company to help find a credible tenant. To avoid this hassle though, you can sell the home to us vacant, which can prevent you from losing income on your investment home.

Reason #3: Avoid Foreclosure

Whether it is on the current home you live in or on your investment asset, foreclosure can have major repercussions. In the present, going through the foreclosure process can cause individuals an immense amount of stress, which can cause emotional and physical damages to one’s body. On a grander scale, if an individual loses their home to a foreclosure, they essentially lose all equity they had gained in the home plus their credit is negatively affected – this combination can make it exponentially challenging to purchase a new home in the future.

To avoid foreclosure, you can either sell your personal home and move into your investment home, or sell you investment property and use the cash to get ahead on your mortgage payments.

Reason #4: Liquidate Cash for Other Financial Burdens

Life always present with uncertainty, and many times this uncertainty comes with unexpected financial burdens. Whether it be an unforeseen health diagnosis, loss of a job, or one of the countless other reasons citizens find themselves in a financial strain, selling your investment property to pay off other debts can provide investors personal relief. They can avoid paying high interest rates and prevent their credit from dropping. Plus, staying afloat provides opportunity to get back in the investment game in the future.

Reason #5: Prepare for Retirement

The last four reasons outlined have been directed towards how selling your investment home can save you from a tough time in your life. However, selling your investment property may just be the next step in your life to move forward.

If you are planning for your retirement then selling your investment property can provide you with two major benefits. First, you can let go of all responsibility of tenants. No more manage equals less stress, which is great for when you are entering the next phase of your life. Secondly, selling your investment home to prepare for retirement can give you extra cash for whatever your next adventure in life is.

Should You Sell You Investment Property?

This is a question that you need to ask and reflect on yourself. Can selling your investment home provide you with advantages to make that transition to the next phase of your life, whether it be getting some financial freedom from debt or financial freedom for the future? If you think that you could benefit from selling your investment home, try contacting us and speaking with one of our staff.

We specialize in buying all types of investment properties – homes, multifamily, and commercial properties. We can provide a free evaluation on your asset which may make the next decision a bit simpler. Don’t wait – get started today to find out how we can help you.

 

Welcome to 2019! Time for a new year for real estate homeowners, sellers, and investors. Last year was a great year for homeowners who were selling…but what does 2019 hold? Here are 4 trends we can anticipate for 2019.

1. Interest Rates Will Continue to Rise. Ending the fourth quarter of 2018, the Federal Reserve has raised interest rates again, which has ultimately created an increase in mortgage rates – actually, the highest they have been in the past seven years.

What does this mean for homeowners? There will be fewer potential buyers for your home. Due to increased interest rates, individuals who are seeking to purchase this year will either identify a home that is lower in price, or hold out to see if the market shifts completely to a buyer’s market (which some analysists are projecting).

2. Home Prices Are Dropping – The Future is Uncertain. The last year has displayed a continuous upward trend in closing sales prices for homes (including in Baytown). However, the last month has halted this trend, displaying the first decline in home values in the last twelve months. This could be a result of the holidays or the unstable stock market – either way, the change is bringing uncertainty to economists.

What does this mean for homeowners? Just like the title says – home prices are dropping. This means a lower selling price for when homeowners do decide to sell their home.

3. Inventory Will Continue to Increase. Have you looked at how many properties are available in your local market recently? If you take a closer look you can see that inventory is increasing. Compared to August, potential home buyers have an exponentially higher number of home buying opportunities. More homeowners are taking into consideration recent trends (specifically, the suspicion that the housing market may crash; however, not as bad as 2007). The future of 2019 indicates that homeowners will continue to list their homes to ensure that they sell before it is too late. 

What does this mean for homeowners? More homes equal more competition for any homeowner looking to sell. Unfortunately, this can drive the value of homes down since home buyers have more options. Also, if homeowners do not input the time and energy into upgrading and staging their homes they may have an even more challenging time selling.

4. Homes “Days on Market” Time Will Continue to Remain Stagnant…or Increase. From 2017 until recently homes have been selling in record breaking times. For Baytown specifically, homes have displayed a continuous rising trend for days on market since March 2018 – an indication that it is becoming more challenging to sell. 2019 is expected to continue this trend as competition increases

What does this mean for homeowners? Selling your home is not as simple as it was a year ago. If you are planning on selling in 2019 and you want to sell via a real estate broker, you will want to get started as soon as possible. With an uncertain economy and an increased expected time of how long a home must be marketed until it sells, homeowners will want to list before it’s too late.

A Closer Look at 2019…

The future of real estate is uncertain. The end of 2018 brought an all-time low to many stocks in the market, which is often an indication that a crash is inevitable. However, with the holidays, the government shut down, and the continuous trade war that Trump has with China, most analysists are torn on what 2019 means. Nevertheless, if you look at historical trends you should anticipate that the downward movement of the housing market can be most anticipated.

Recommendation for Homeowners:

If you own a home and are considering selling in 2019, you should get started immediately. Yet, it is recommended you avoid the instability of marketing your home, but rather consider selling to an all-cash buyer.  The advantages of selling to an all cash buyer (such as ourselves) allows you to avoid the complications related to recent real estate trends. First, we buy homes with no finance contingency – interest rates do not affect our purchase. Secondly, we price your home competitively, looking at recent sales in the areas. Thirdly, we are always buying homes – inventory does not affect our purchase prices. Lastly, we do not care how long homes are on the market – we can close in five days.

As you can see, we provide many benefits to those considering selling. If you would like to learn more about how we can help you close on your home quickly, contact us today.

 

For the last century, Americans have witnessed continuous improvement in the technological products that keep their everyday lives running smoothly. From electricity, which made heat and power household staples, to microwaves, which provided quick and easy family dinners, each technological innovation has served as a way to improve the efficiency of American households. Today, we have moved into the realm of “smart homes,” or home automation – that is, the ability for all household items to connect to the internet of things and function on voice command or via web-based applications. Remember the Disney flick Smart House? Well, that sci-fi home is today’s reality.

As the year ends, it may be an opportune time for you to review the technologies you currently use in your home and to consider upgrading to smart appliances. You can stop worrying about chores you’ve forgotten, reduce stress related to unnecessary wasted expenses, and increase the amount of time spent with your family. Let’s take a look at the “Must-Haves” of 2019.

1 – Home Surveillance Cameras

Home surveillance used to be a complex system of cameras and separated monitors wired together through the walls. However, today’s technologies offer a wide range of security systems. Most surveillance cameras can link directly to your smartphone, so you can always see who is at the door. For those who are looking for a more secure system, you can set up cameras inside to track intruders for facial recognition.

2 – Robot Vacuum Cleaners

Don’t waste another precious weekend sweeping the floors! No matter the type of flooring, there is a system that is designed for your home. Newer robot vacuum cleaners have sensors to detect obstacles and reach the most challenging places. They even have a scheduling feature, ensuring that your home is cleaned daily.

3 – Wireless LED Light Bulbs

Today, you can connect even your lighting with an application on your phone, which can be controlled via a WiFi connection. You will no longer need to turn on and off your lights with a switch, but rather with the tap of your finger. The benefits go beyond ease; if you forget to turn the lights off, you can shut them off once you leave the house so that you do not waste money on unused electricity.

4 – Smart Faucets

Both hygienic and economically friendly, smart faucets are saving thousands of gallons of water each year. The concept is that the faucet operates with a sensor which detects when you are trying to wash your hands. You no longer have to turn on/off the water, but rather lather your hands with soap and wave them in front of the sensor.

5 – WiFi Air Conditioner

Much like the benefits that come with wireless light bulbs, you can now connect your AC unit to your smartphone. This set-up is simple, cost effective, and provides homeowners the opportunity to cool a home before entering the door.

6 – Smart Refrigerator

The smart fridge transcends energy efficiency and provides consumers an internal camera in the fridge so that the content inside can be viewed anywhere by your smartphone. No longer will food be wasted by double purchasing, and no longer will you have to second guess whether you have enough for this weekend’s dinner party; smart technology will ensure you save time in preparing for the meals that bring together family and friends.

7 – AMAZON ECHO, or a similar device

This is a typical addition to millions of households today and probably the most useful to consumers on a daily basis – you may know it as “Alexa.” This device allows you to use voice commands to have Alexa complete tasks – anything from sharing the local weather to ordering flowers for Mother’s Day. Today, you can even connect AMAZON Echo to your lights, thermostats, and televisions, which allows you to use one accessible, centralized hub to customize your home and refine your comfort.

THE COMMON GROUND….

A you can see, there is one device that is essential to transforming your home to a smart home – the smartphone. You can control devices while away and watch to ensure the security of your home. The future of our homes appears to be changing into a one-stop shop… your phone.

THE FUTURE!

With smart homes on the rise and an increased cultural emphasis on personal wellbeing, MIT has been exploring the possibility of collecting and tracking the health records of the members living in smart homes – researchers have even discussed monitoring details like the way we walk and how we eat. The future is here, and it’s the modern smart home. Take some time today to reflect on your day-to-day interactions with your home and consider an upgrade.