Emil Uliano - Great Island Realty



Posted by Emil Uliano on 3/27/2020

For those who plan to list a house in the foreseeable future, it often is beneficial to track the real estate market. By doing so, a home seller can identify real estate market patterns and trends and quickly address any potential property selling hurdles.

Now, let's take a look at three tips to help you analyze housing market data so you can accelerate the property selling journey.

1. Review the Prices of Recently Sold Houses in Your Area

Check out the prices of recently sold houses in your city or town. That way, you can find out whether sellers are accepting offers to purchase at or above their initial home asking prices.

Furthermore, it may be a good idea to see how your house ranks against recently sold residences. With this housing market data in hand, you may be better equipped than ever before to establish a competitive initial asking price for your home.

2. Determine How Quickly Houses Are Selling

As a home seller, you should find out whether you're preparing to enter a buyer's or seller's market. If you look at how quickly houses are selling in your city or town, you can distinguish a buyer's market from a seller's one.

In a buyer's market, you will find many sellers and few buyers. Conversely, in a seller's market, there is an abundance of buyers and few sellers.

The differences between a buyer's and seller's market are significant. If you understand whether you're getting ready to sell your home in a housing market that favors buyers or sellers, you can determine how to price your residence so it will generate plenty of interest from buyers. And as a result, you may be able to streamline the home selling journey.

3. Assess the Prices of Homes That Are Similar to Your Own

Your home may be one of many available to property buyers. Thus, you should review the prices of houses in your city or town that are similar to your own. This housing market data will help you narrow the price range for your residence.

Also, you may want to review rival home sellers' property listings and see how these sellers promote their residences to prospective buyers. Because if you can find ways to differentiate your home listing from competitors', you could boost the likelihood of a successful house selling experience.

As you prepare to add your house to the real estate market, you may want to hire a real estate agent as well. A real estate agent will offer recommendations so you can enhance your residence both inside and out and help you establish a competitive initial home asking price. Plus, a real estate agent will help you review an offer to purchase your home and determine the best course of action.

Take the guesswork out of selling your house Ė use the aforementioned tips, and you can monitor the real estate market and use housing sector data to simplify the property selling journey.




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Posted by Emil Uliano on 3/20/2020

Buying a home is one of the most expensive undertakings that youíll ever have in your lifetime. You probably have spent months upon months saving for a downpayment in order to make your home purchase. The problem is that after they believe their savings are complete, many buyers discover unexpected costs that go along with buying a home, making the entire process even more stressful. You should be prepared for many different kinds of costs that go beyond the sticker price of a home. Below, many of those surprising costs are laid out in detail. 


Closing Costs


Closing costs can be anywhere from 2-7% of the purchase price of a home. Closing costs cover quite a bit including:


  • Inspection fees
  • Appraisal
  • Title insurance
  • Property taxes
  • Mortgage insurance
  • Underwriting fees
  • Recording fees
  • Loan origination fees

Depending upon the type of loan you get or your specific circumstances, your closing costs could be even more. Keep in mind that you wonít find out your specific closing cost amounts until the purchase of the home is well underway. You can talk to your realtor and lender ahead of time to be prepared for your own situation.


Closing costs are also negotiable, so donít forget to ask questions. Certain administrative fees, for example, are often unnecessary and can be waived.  


Low Appraisals


If you have a low appraisal on your home, you may need even more cash on hand. In order to meet loan and home value requirements, lenders wonít approve a loan for an amount thatís higher than the home is appraised for. In this case, if you still want the home, youíll be left to come up with the difference in cash. Otherwise, you could be forced to walk away from the deal and lose some money in the process. This is one of those home purchase emergencies that you should simply be aware of. It can be an emotional experience to get a low appraisal on a home, but remember that there are sensible ways to deal with this dilemma.       


Moving Expenses


Many buyers forget in the excitement of buying a home just how much it will cost to move. Whether you hire a moving company or do it yourself, moving can be expensive. Youíll need a truck, packing supplies and a way to pay (or simply thank) the people who help you to move. 


The Things You Need For Your Home


Your home wonít come with everything that you need. You may have to buy a refrigerator, have some repairs done, or simply get furnishings for the home. Donít strap your budget so thin that you wonít be able to buy a sofa until six months after moving into the home.   




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Posted by Emil Uliano on 3/13/2020

The decision to buy a house may be one of the biggest choices that you make in your lifetime. As such, a potential home purchase should be fully evaluated to ensure you can achieve the best-possible results during the homebuying journey.

Furthermore, it may be beneficial to discuss your homebuying plans with family members, friends and other loved ones. There are many reasons why you may want to share your homebuying plans with loved ones, and these reasons include:

1. You can gain homebuying insights that you might struggle to obtain elsewhere.

Loved ones frequently are happy to share their homebuying insights with you. Thus, if you keep loved ones up to date about your homebuying plans, you may be able to gain comprehensive real estate insights that you won't find anywhere else.

Let's not forget about the past homebuying experiences of loved ones, either. If a loved one had a positive or negative homebuying experience, you may be able to learn lessons from this event that could help you navigate the homebuying journey.

2. You can look at the big picture.

Oftentimes, the temptation to rush through the homebuying process can be overwhelming, particularly for a first-time homebuyer. If you consult with loved ones, however, you can slow down and look at the big picture as you prepare to pursue your dream residence.

Loved ones are unafraid to be honest, especially when it comes to a life-changing decision like buying a house. Therefore, if you reach out to loved ones before you enter the housing market, you can assess your short- and long-term plans and map out your homebuying journey accordingly.

3. You can get the help you need to succeed.

No one should be forced to pursue a house on their own. Lucky for you, loved ones are available who can help you discover your ideal residence in no time at all.

Sharing your homebuying plans with loved ones may enable you to get plenty of support throughout the homebuying journey. Plus, if you ever have concerns or questions as you pursue your dream house, loved ones are ready to assist you in any way possible.

As you prepare to embark on a home search, you may want to consult with a real estate agent too. In fact, a real estate agent will ensure you can enjoy a seamless homebuying experience, regardless of where you want to live.

Typically, a real estate agent will set up home showings, keep you informed about new residences as they become available and help you submit offers on houses. This housing market professional also will negotiate with a seller's agent on your behalf, guaranteeing that you can get the best price on any home, at any time.

Ready to kick off a successful home search? Connect with loved ones Ė and a real estate agent Ė and you can get the assistance that you need to find your dream house.




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Posted by Emil Uliano on 3/6/2020

As a home seller, it generally is a good idea to consider the buyer's perspective. That way, you can determine why buyers may consider your house over other available properties and map out the home selling journey accordingly.

Now, let's take a look at three tips to help you assess the buyer's perspective before you embark on the house selling journey.

1. Analyze Your Home

Think about why you decided to buy your home in the first place. By doing so, you may be able to discover what makes your house unique from other properties so you can promote your residence to the right groups of prospective buyers.

Don't hesitate to take an objective view of your home's interior and exterior too. Remember, your goal as a home seller is to generate as much interest as you can in your house. If you take a critical view of your house, you can identify problem areas and work to correct various issues as quickly as possible.

2. Review the Local Housing Market

The local housing market may favor buyers or sellers. By reviewing housing market data, you can find out whether a buyer's or seller's market is in place. Plus, if you evaluate the local real estate sector, you can understand how your residence stacks up against the competition.

Analyzing the local housing market also may help you establish a price range for your home. As you check out the prices of comparable houses in your city or town, you can use this information to set an aggressive initial asking price for your residence. And as a result, you may be able to stir up lots of interest in your home among potential buyers.

3. Consult with a Real Estate Agent

If you are unsure about how buyers may perceive your house, it may be beneficial to have a housing market expert at your side. Luckily, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help you find ways to generate interest in your residence.

A real estate agent will learn about you, your home and your house selling goals. Next, he or she will craft a personalized house selling strategy designed to help you achieve your desired results. After a real estate agent puts this strategy into action, it may be only a matter of time before you receive offers to purchase your residence.

Let's not forget about the assistance a real estate agent provides after you receive an offer to purchase, either. At this point, you'll have to decide whether to approve, reject or counter a buyer's proposal. Meanwhile, a real estate agent can provide an honest, unbiased recommendation to help you make an informed decision about a homebuying proposal.

Want to streamline the home selling journey? Use the aforementioned tips, and you can incorporate the buyer's perspective into your home selling strategy and increase the likelihood of enjoying a fast, profitable house selling experience.




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Posted by Emil Uliano on 2/28/2020

The rent vs buy dilemma is something that Americans have been facing for decades. Both options have their benefits, and itís really a matter of timing and preferences when it comes to choosing which is best for you.

However, there are a lot of things to consider before making this decision. So, in todayís post weíre going to break down some of the benefits of renting an apartment and of buying a home. That way you can make your decision with a clearer picture of what each situation looks like.

One thing to note first, however, is that it isnít always as simple as buy vs rent. Some living situations draw on the pros of each type of living. For example, living in a condo might be a good option for people who want the privacy and independence of owning their own home, but who also donít have the time or desire to keep up with maintenance.

So, as we compare buying and renting, keep in mind that the features of each are not mutually exclusive.

Renting an apartment

Most people who are living on their own for the first time start off renting. For younger people just out of school, renting offers the first taste of independence without the prerequisites of homeownership.

When you rent your first apartment, youíll learn the skills associated with budgeting for your monthly expenses, making your rent payments on time, and will start learning some of the skills that it takes to run a household.

In terms of monthly costs, apartments can vary greatly. Depending on where you live (and how luxurious the apartment is) you could end up having rent and utility payments that are much lower or much higher than mortgage payments for a house.

However, apartment leases often come with the benefit of utilities, trash removal, and other expenses built in. They also typically require the landlord to maintain the apartment and the land it sits on.

Live in the northern part of the country and hate shoveling snow? Make sure your lease specifies that your landlord will provide snow removal.

One technique that many renters take is to find an apartment that is small and affordable while they save up for a home. In this case, itís worth living with fewer amenities if your end goal is saving for a down payment.

But, what if you want to own a home someday but havenít quite decided where you want to settle down? Maybe your work keeps you moving from place to place or youíve always wanted to move away to somewhere new.

Renting is typically a better option for those who arenít quite sure what their plans are for the next coming years. They can have a stable place to live while they figure things out and plan their next move.

Buying a home

Once youíve rented a home for a while, you might become increasingly aware that you want more space and more control over your home.

Youíre also likely noticing how much money you spend on rent each month that is essentially a net loss.

When you buy a home, your mortgage payments might be going to the bank, but someday the money youíve paid toward that home will be yours in the form of equity. You can then use this as a down payment for another home.

This financial benefit cannot be understated. Since house values dependably increase over time, owning a home is a great investment toward your future.

So, those are the main pros and cons of renting vs buying a home. Think about your circumstances and determine which one makes the most sense for you right now. Then, start planning for the future.




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