Blog :: 02-2015

Tuesday Tip - How to Sell Your Condo When you Have Tenants

As the landlord of a tenanted property, you have a lot to think about if you're looking to sell.  There's the obvious - how do you make sure the tenants keep the home clean and organized for pictures and showings - but you also have contractual, and possible legal obligations to consider, and decisions to make about how to market the home to potential buyers. Today's Tuesday Tip comes from Brick Underground, and focuses on the things you must consider and plan for when you have a tenant living in the apartment or condo you're looking to sell.

The Charles Realty has a team of experts that focus primarily on real estate investments and have a wealth of knowledge when it comes to buying, managing and selling investment properties.  For more information, call 617-236-0353 or visit our website to learn more about the team.

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Tuesday Tip - Easy Improvements That Will Increase the Value of Your Listing

You don't need a major renovation to increase the value of your listing. There are plenty of inexpensive  improvements that can yield a generous return.  Today's Tuesday Tip, 5 Ways to Increase the Value of Your Listing comes to us from Realtor Mag, the official magazine of The National Association of Realtors, and offers 5 simple ways to increase the value of your home by up to 12%.

There are plenty of resources out there offering additional ideas, like these tips from HGTV.com, but your first step should be a consultation with a real estate professional who is trained to counsel sellers on this topic.  They will have the best understanding of the characteristics and features that are most attractive to potential buyers, and will therefore be your best resource when prioritizing improvements.  To speak with one of the experts at The Charles Realty, please call 617-236-0353 or meet our team here.

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Tuesday Tip - What do Increasing Rates Mean for Buyers and Sellers?

The Federal Reserve has indicated that there will be a gradual rise in rates throughout 2015 and into next year. Here's a quick summary of what that means for buyers and sellers:

For buyers - Always the good news first!  An increase in rates will deter other buyers from borrowing money, so you will have less competition and a better chance of avoiding a bidding war.  Now for the bad news - while the trend of bidding wars and over-ask offers will wane, the increased rate will cost you far more over time.  So, if you've been wanting to buy in Boston but have been waiting until the supply-demand variance evens out, it might not be worth it.  Long story short, rates aren't going down for quite some time, and it also doesn't seem likely that there will be a surplus of new (non-luxury) homes in Boston in the foreseeable future.  So, now is a great time to secure a low rate and lock something down, especially if you fall into the 42% of millennials that Zillow's Chief Economist Dr. Stan Humphries says will be buying a home in the next one to five years.

What it means for sellers:  There are way too few condos and single-family homes to meet the current demand, which is an ideal situation for sellers, but the rate increase means that the number of buyers will be decreasing throughout the year.  This will mean fewer bidding wars and fewer over-ask bids, and more buyers deciding to keep renting.  So if you've been on the fence about selling your home, now is the time to get top dollar by tapping into the large market of buyers that low interest rates have created.

The real estate market in Boston has gotten a lot of attention lately, as it is quickly becoming one of the most desirable cities in the country to live and invest in.  Whether you're buying or selling (and then buying again) now is the time to gather information and resources that will ensure you're making smart decisions about your real estate investment.

For more information about the trends we're seeing in the Boston real estate market and what impact they will have on both buyers and sellers, reach out to our experts at 617-236-0353 or meet our team online.

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