Best Ways to Sell Your House During COVID-19

With the COVID-19 pandemic slowing down the real estate market, selling a house has become a herculean task for many homeowners. Not to mention, in today’s economy, some homes are remaining on the market for months. However, even though selling your home during COVID-19 can be tricky, it isn’t impossible. With a little know-how, you will be able to sell your home quickly.

Furthermore, selling a house during COVID-19 may sound tough initially, but it is not that difficult to do. Listed below are four tips to sell your home during COVID-19.

1. Advertise properly- While technology and the Internet have made it easy to list real estate for sale online, you need to pack a greater punch to get buyers to take notice of your property if you want to sell your home during COVID-19. From putting up a for sale sign and advertising your home on as many of the major property websites as possible to advertising your home for sale on social media, make sure you leave no stones unturned in terms of advertising your home for sale. Furthermore, you should also distribute flyers and even put an advertisement in the local newspaper. This will allow you to reach out to more people and so, there will be chances of more offers.

2. Virtual tours- Virtual tours are very effective when it comes to marketing and selling your home during COVID-19. Furthermore, a good virtual tour will grab a home buyer by hand and lead them from room to room, whether it is 360 or a video.

3. Be an aggressive home seller- Let’s face it, waiting for the home buyer to come by will not get you anywhere. You need to go all out to spread the word. From putting up a for sale sign to repainting and remodeling your home, do everything within your power to sell your home fast during COVID-19.

4. Declutter and keep your home clean- Nothing can turn off home buyers faster than a home in disarray. Furthermore, whether or not you are currently living there, make sure you take the time to declutter, deep-clean and spruce up. In addition, when cleaning your home, make sure you also remove photographs and other personal information that may be visible, as you want to make buyers feel comfortable when viewing your home.

While selling a home during COVID-19 can be tricky, if you spend some time and effort in creating that perfect atmosphere for your house and keep in mind the above-mentioned tips and tricks, you will be able to sell your home in no time.

Immobilienmakler Heidelberg

Makler Heidelberg

Benefits of Selling to a Property Buying Company

Selling your home to a cash for property company can be advantageous for many reasons, and doing so doesn’t necessarily mean that you have to pack up and move out either. Nowadays, there are several property buying companies who are willing to buy your home from you and often times will allow you to rent the house from them after they take ownership.

One of the advantages of selling your home to a property buying company that you can get it done quickly. In today’s market, homeowners sometimes have to several months or even years to be able to sell their homes. If you’re able to sell your home quickly, you won’t have to worry about missing out on your dream home. Not to mention that any offer you make to a seller will be taken more seriously as they know you have the funds – you may even be able to save some money too. The process of selling your home to a property buying company usually takes less than two weeks. Plus, there are no real estate commissions to pay since no agent is required and the property buying company pays for all the legal fees involved.

Many of us often get into bad credit card or other debt and many times take out loans that use your homes as collateral, so falling behind on payments puts you at risk of losing your home. Selling your property for cash quickly can also help you avoid foreclosure and get you out of any other debts you have.

Another reason to sell your home to a property buying company is if you have to sell quickly due to divorce or separation in a relationship. Selling to a property buying company ensures that you will receive a lump sum of cash for you property in as little as two weeks. After the sale, you can either move to another location or rent the home from the property buying company, which should certainly be more affordable than a mortgage.

If you have to move because of a job relocation, quick cash for your property can be a huge relief. Doing so means you don’t have to worry about carrying a second mortgage or managing a bridge loan. You also wouldn’t have to worry about trying to keep your first property maintained while waiting for it to sell.

There are several reasons why it could be beneficial to sell your property to a property buying company. Quick cash for your home releases the equity in your home allowing you to settle your debt and start fresh. It’s up to you, though, whether to find another residence or to remain in the home paying a lower rental rate instead of a mortgage.

Immobilienmakler Heidelberg

Makler Heidelberg

Overcoming the 3 Worst Fears of Writing Contracts in Real Estate Investing

Contract writing is a paralyzing fear in real estate investing for investors who are buying or selling properties. The usual thought is that if the investor omits something very important, the deal will be lost, may be liable for huge sums of money if the contract doesn’t work, or he will be doing something illegal and not even know it.

Overcoming these fears is easy to achieve but must be worked on in their order of importance to the investor, which can be done in minutes or hours. The result will be a rewarding and long career in real estate investing. The following are ways to help overcome these nagging fears for real estate investors.

1. The fear of omitting something very important in the contract.

Real estate contracting is as ancient as writing and each state has set some standards or the realtors in that state have set contract standards which they use to write both purchase and sale agreements.

An investor can get contracting online, at a local office store or even from a real estate investing guru. It is strongly suggested that you use only contracting approved by your state’s BAR (attorneys association) or your local BOR (Board of Realtors). Generally using the store bought or guru contracts won’t open you to too much liability, but they can have major problems that aren’t obvious until you lose a great deal.

Particularly, guru contracts are sold as protecting the investor and often have separate buy and sell contracts. If these contracts are sent to the seller’s attorney for review, they could lose your deal because they are so onerous. You are better off to control the contract that is standard in your state using clauses or addendums that favor your position.

2. The fear of huge liability if the contract is done improperly.

Unless otherwise stated in the contract, when you are a buyer, your liability is limited to your deposit amount. If you haven’t given a deposit yet, your contract may not be valid in the first place, so always give the minimum deposit the seller will accept. While it is impressive to other investors give to $1 or $10, if you are in competition with another investor who is offering $100, you could lose the deal.

Always put in a clause that your escrow deposit is not due until your inspection period is over and ask for as long an inspection period as possible – with homeowners I ask for and receive 20 to 30 days. This longer inspection period allows me more time to sell the property. You may not be able to use your buyers‘ funds to close if he is getting a conventional loan to purchase the property – this is illegal flipping if the closing is not done properly. There are various ways to close the transaction using a cash buyer’s funds.

If you are selling a property, your liability is more extensive because you can face a lawsuit called a „Breach of Contract“. This lawsuit claims that the buyer had a valid contract with you and for whatever reason; you decided not to sell it to him. The simplest way to overcome this potential problem is to have an attorney review your contract and have clauses that protect the closing date, such as, the buyer will have to close on or before a specific date“. If the buyer doesn’t, you have a breach of contract by the buyer but your cure is to the limit of his deposit unless you incurred an additional financial loss in the transaction that didn’t close. Always get as large a deposit from a buyer as possible, usually at least 3% to 5% or a minimum of $2,000.

3. The fear of doing something illegal and not knowing it.

This can be a well founded fear for newbies. It is best resolved by having an attorney, not another investor, review what you are doing. The benefit to the attorney is that you will put him in as the closing agent. He likely will write the contract for you but this can be burdensome if you are meeting with a buyer or seller and you want to close the deal. Always use an attorney who does real estate closings as his main course of business, not a general practitioner. You will discover that while every deal varies slightly, the actual amount of contract clauses that vary from contract to contract are very small.

In summary, your ability to write purchase and sale agreements is very powerful and must be mastered. This first requires you read and understand a standard contract for your state and local municipalities if they are also required. You do not need a realtor to write a contract and it is not illegal for you to write a contract despite what many realtors may tell you. Always have an attorney review what you are doing and pay him by making him the closing agent on the transaction if possible. If the opposing party to the contract is choosing the closing agent, have him shadow the deal and explain that you will use him on the next contract where you control choosing the closing agent.

Immobilienmakler Heidelberg

Makler Heidelberg

How to Make Money Online by Creating and Selling Short Reports

How to Make Money Online With Short Reports

Writing short reports and selling them for a low price is one of the most powerful ways of making money online fast. In this post we will see how to write a short report and set it on autopilot so that it makes money 24×7.

What to Write About?

Look around you. What inspires you the most? What are your passions, how do you spend most of your time, is it reading? fishing? cooking?

Are you an expert in anything? Do people ask you for suggestions about something? There are literally thousands of ways to find inspiration, if you want to!

A great way to write a report that sells is by concentrating on something that focuses on relieving pain or solving a problem, that kind of stuff.

But before you get all excited and start creating a report, just make sure that the topic you are going to write about is in demand. One way to do that is by using a keyword tool. There is a free keyword tool out there which is more than enough for this purpose. The tool is Google Keyword Planner. Using this tool you can easily estimate the number of people searching for a particular topic and keyword each month. If you want more professional insight and want to find highly profitable keyword ideas go for paid tools like LongTailPro or Market Samurai. LongTailPro is a professional keyword tool which gives you keyword ideas and its profitability scores. You can also use this tool for getting blog post ideas, research a profitable niche for your next site and much more.

How to Write the Report

You can easily create a report using free tools like OpenOffice suite or a paid one like Microsoft Office. Create a document in word format and then export it in PDF format when saving the document. That’s it. Your report is ready. Don’t forget to add pictures and media where necessary in your report.

How Many Pages?

When you are just beginning try to keep it short. Anything between 20-30 pages should do. Remember it’s about the quality, not quantity.

How to Price Your Report

For a 25-30 page report you can price anything between $5-10, considering you are an amateur and nobody in the industry knows your name. Once you become popular you can even charge $100 for a short report provided it is a high voltage content.

How to Sell Your Short Report

You can opt for a cheap web hosting account and register a domain name. Once you are done with that you can hire a designer to create a sales page for you (which is going to cost you heavily) or buy Optimizepress ($97 for 3 domains).

Optimizepress gives you flexibility and you can create as many landing pages and squeeze pages as you want. It is easy to design. Another option is Leadpages which costs $37/month.

Once your landing page is ready subscribe for e-junkie which costs you only $5/month for one item. It is a digital product delivery system which delivers your report to the customer’s email once the payment has been processed. Remember, e-junkie doesn’t process payments. For accepting payments use the PayPal business account which can be easily connected to e-junkie and which is free to get started. This is only a one time setup. Set it up and it will earn you money on autopilot. PayPal does take a commission for each transaction carried out, but it is definitely worth it.

Once you start making enough money with your first report you can make several similar type of reports in different niches. By this way you have got a decent online business for you which earns on autopilot and supplies you with a continuous stream of passive income.

Immobilienmakler Heidelberg

Makler Heidelberg

Short Sales vs Foreclosure – What Are The Effects On Your Credit?

Homeowners looking to stop foreclosure are faced with a number of options, one of which is doing a short sale. Some people, depending on their situation, may allow a property to go into foreclosure instead of attempting a short sale. One reason is they don’t want to keep the home in the first place. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. The primary consideration above all is the affect both can have on your credit score.

The Basics Of A Short Sale

The concept of a short sale is fairly simple. A short sale occurs when the sale proceeds of a house fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. A few words of warning are in order. Not every lender will negotiate a short sale. If for example your payments are current, yet you foresee imminent cash flow problems arising that will affect your ability to make your monthly mortgage payment. Lenders have no interest in negotiation unless your payments are several months late. Another consideration is you may be held liable for taxes on the difference between the sale amount and the original loan amount. Short sales require nerves of steel.

The Credit Affects

Foreclosure

Without a doubt sellers will incur more damage on their credit report by going through foreclosure. Typically your credit score will take plunge between 200 to 300 points.

Short Sale

Short sales have a far less damaging affect on a seller’s credit report. Credit scores typically lose between 80 to 100 points. What happens to your credit down the road? It is takes around three years after a foreclosure before a lender will offer a sensible interest rate, whereas for a person who went through a short sale typically waits around 18 months to buy another home at a good interest rate.

Salvaging your credit should always be the primary concern when making the decision between a short sale and stopping foreclosure. The savings in interest payments alone should be convincing enough for most people, not to mention your buying power in the near and distant future.

Immobilienmakler Heidelberg

Makler Heidelberg

How To Get Top Dollar For Your Home – Fast

1. Time is money when selling your home

After you’ve made the decision to sell your home, the longer it remains unsold on the market, the more it costs you. Many home sellers feel it’s very important to receive close to their full asking price. But they overlook the additional months of carrying costs, such as mortgage interest, property taxes and maintenance. I’ve seen homes remain unsold on the market for years! Obviously, those home sellers are not highly motivated to sell. If they’ve already moved to their new home, maintaining a vacant, overpriced house can be very expensive, usually costing $1,000 or more each month the home remains unsold.

2. Get your home into near-model home condition

Most home buyers today want to purchase a home which is in basically good condition and does not need major fix-up work. This is called a „red ribbon deal“ home because it’s like a gift wrapped with red ribbon.

There are few buyers for fixer-upper houses–and they want bargain prices to compensate for the necessary work. The goal of home sellers who want to sell fast for top dollar must be to get the home into near-model home condition. However, spending major money is not required. Most homes just need basic, inexpensive work to get the residence into very good condition where all the buyer must do is turn the key in the door and move in.

3. The reason most homes don’t sell–they are overpriced!

Many home sellers want to set their asking prices above what their realty agent recommends. These sellers often hope an out-of-town buyer will overpay for their home. That rarely happens! There are several reasons, such as buyer’s agents who look out for their buyers, competitive listings which are realistically priced close to market value, and lender’s appraisals which reflect market value. Buyers quickly become experts on home values after they’ve inspected a dozen or more similar homes in the vicinity. They rarely overpay. Most homes have a „range of values.“ Many factors influence this range of values–such as local economic conditions, the home’s location, supply of similar homes in the same price range listed for sale, number of buyers currently in the marketplace, the physical condition of the home, the skill of your realty agent to properly market the home to as many prospective buyers as possible, the financing available, quality of the local school district (the best schools create home buyer demand), and the desirability of your home compared to other nearby homes now available for sale.

4. Be flexible–don’t get greedy

If you’re just testing the market and will sell your home only if you get your inflated asking price, then you’re not a serious motivated seller. However, if you are motivated to sell, the best attitude is to be flexible, don’t get greedy and don’t insist on receiving the last dollar of profit. Instead, consider all purchase offers which are presented. No matter how low and insulting the purchase offer might be, make a counteroffer! After several days or even weeks of counteroffer negotiation back and forth, home sales often result. But sellers who are inflexible and don’t make counteroffers have only themselves to blame when their home doesn’t sell because they are inflexible and greedy.

5. Get out of the house!

Finally, if you listed your home for sale with a professional realty agent, let that person (or a buyer’s agent) do their job. Whenever you know an agent is bringing a prospective buyer to inspect your home, even on short notice, get out of the house! There’s a very good reason you don’t want to meet the prospective buyer.

Experienced realty agents will tell you that until a buyer criticizes a residence, he or she is not a serious buyer. If the seller is hovering nearby, the prospect usually will not criticize your home. Instead, he or she will look at it and leave without making a commitment to that possible future residence. Also, the buyer’s agent won’t comment about the pros and cons of the house if the seller is within hearing range. Even if you just walk around the block 10 times while a buyer inspects your home, get out! Also, get your pets out–there is nothing worse than an offensive pet (or pet smell) to chill prospective home buyers from quickly buying your home for top dollar.

Immobilienmakler Heidelberg

Makler Heidelberg

Structured Trade Finance – What Does It Mean?

Structured trade finance (STF), a type of debt finance, is used as an alternative to conventional lending. This form of finance is utilized regularly in developing countries, as well as, in relation to cross border transactions. The objective is to encourage trade by making use of non-standard security. STF is generally used in high-value transactions in bilateral trading relationships. As a more complicated type of finance, STF is commonly related to commodity trading.

Within the commodity sector, STF products are most prevalent. It is used by producers, processors, traders, as well as, end-users. These financial arrangements are tailored by banking organizations to meet the precise needs of the clients. STF products are primarily working capital financing, warehouse financing and pre-export financing. There are also some institutions that extend reserve-based lending, as well as, finance the conversion of raw materials into products, along with other customized finance products. In order to promote trading activities, STF products are extended across the supply chain.

STF structures are sponsored by limited recourse trade finance lines. The structure aims at offering better security mechanism and to act as an enhancement on the position of the borrower when viewed in isolation.

How Has Technological Advancements Complemented STF?

Trade credit insurance, bank assurances, letters of credit, factoring and forfeiting are some of the STF products that have been positively affected by the latest technological advancements. These products have changed due the recent developments. The massive progress in communication and information domains have also helped the banking institutions to track the physical risks and events in the supply chain between the exporter and the importer.

Why are STF Facilities Used?

Structured trade finance products are used so that the risks related to trading in specific country and different jurisdictions can be mitigated. Any transaction together with STF products help to add resilience to the trade and the same cannot be said when looking at financing the individual elements of a trade. Moreover, it allows for lengthening the payment time, strategizing procurement, diversifying funding and enhancing the ability for clients to boost the facility sizes.

What makes STF extremely attractive is that the borrower’s strength in the transaction is not scrutinized as closely as compared to a vanilla loan. Here, the focus is more on the structure and the underlying cash flows. Another reason for STF’s popularity is that the transactions are not reflected in the balance sheet of a company and the presence of this financing option has helped several importers to maintain flexible credit terms with exporters.

In recent years, structured trade finance products coupled with the recent advances in technology are considered as the fundamental reasons for the increasing volumes of international trade.

Immobilienmakler Heidelberg

Makler Heidelberg

The Top 10 Tourist Attractions in Berlin, Germany

Inglourious Basterds, The Berlin International Film Festival, more than 30000 palaces and castles, hundreds of wineries and the Bundesliga are not the only things which define the majestic country of Germany. It is also home to an extremely rich and varied history, unique works of architecture, priceless art works, a great culture, crazy music and even wilder parties. Apart from the innumerable sights and things to do, Germany is also blessed with some of the most beautiful natural landscapes of the world. From spending a day amidst nature and exploring countless castles and palaces to sunbathing on nude beaches, Germany has something unique for each of its travellers. A few of the top sights of Germany are the Old City of Heidelberg, the Neuschwanstein Castle, the Cologne Cathedral, Romantic Rhine, Lindau and of course the world-famous Oktoberfest.

The Old City of Heidelberg

Heidelberg was one of the very few cities of Germany which was spared from bombings during the World War II. As a result, it retained much of its old world charm and still exudes an aura of romance and adventure which prevailed during the medieval era.

The Neuchwanstein Castle

The Neuchwanstein Castle is located on the top of a rugged hill near the town of Fusen. Popularly known as the best fairytale castle of the world, it has been an inspiration to numerous theme parks and fairy tales such as the Disneyland and the Sleeping Beauty castles. It is also one of the most photographed buildings of Germany and invariable features on most tourist itineraries.

The Cologne Cathedral

The Cologne Cathedral is one of the most important pieces of German history and is also the third tallest cathedral of the world. The construction of this cathedral took more than 600 years and the construction process was passed from generation to generation. The most astonishing fact is that when the cathedral was finally finished in the year 1880, it was still true to its original plans which were developed way back in the year 1248. Further, the cathedral also has the proud distinction of being the only standing building of Cologne after it was leveled by bombings in the World War II. As a result, numerous theories such as divine intervention came about. However, it was actually an orientation point for the pilots which resulted in it being saved from bombings.

Romantic Rhine

Popular as the most famous section of Rhine, Romantic Rhine has been enticing countless tourists since eternity. The area runs from Koblenz to Bingen and is characterized by the Rhine river carving its way through hundreds of castles and ruins and vineyard covered hills. Another factor which has contributed greatly to the appeal of the area are the countless historical towns and villages in the area which dot the Rhine River.

Lindau

The city of Lindau has great historical importance and is located on the converging point of the Swiss, German and Austrian borders towards the east of Lake Constance. The city has about 3000 inhabitants and is full of historical buildings and medieval palaces which are extremely popular amongst the tourists.

Oktoberfests

The Oktoberfest is the largest festival in Germany which is extremely popular all over the world and draws about 6 million tourists annually. The festival is known to have immense importance in the Bavarian culture and began way back in the year 1810. Its appeal and popularity has kept growing ever since and the carnival is famous for unlimited amounts of beer and traditional practices such as Knodel, Hendl and Wurstl.

The Brandenburg Gate

Very few monuments have received more international fame than The Brandenburg Gate. Built in between 1789 – 1791, the Gate represents the past and the present eras of Germany in exemplary fashion. The main attraction of the Gate is its unique architecture which includes 6 Doric Columns that forms 5 passageways with pedestrian access only. In the year 1794, a depiction of Goddess Victoria, the Goddess of Victory, riding a four-horse chariot was also added.

Berlin’s Museum Island

The Berlin Museum Island is a UNESCO World Heritage Site which is located right in the heart of the city of Berlin. This magnificent museum is extremely popular amongst the tourists as well as the locals due to its humongous collection of priceless treasures and artefacts. Also known to be one of the most important museums of the world, The Museum Island takes its visitors on a journey through time which begins with the cradle of civilization on the streets of Mesopotamia, passes through the Egyptian, Greek, Roman, Byzantine and the Islamic eras and ends with the era of 19th Century Romanticism and the Modern Ages.

The Romantic Road

The Romantic Road starts from Wurzburg and goes on till Fusen. It is one of the most visited routes of Germany which has been made popular due to the small winding towns and villages which line up along the route, exquisite wines of Wurzburg, the Neuschwanstein Castle, immense scenic beauty and the magnificent lakes of Fusen.

The Rugen Cliffs

Made famous in the works of Caspar Freidrich, the Rugen Cliffs are one of Germany’s most famous and popular attractions amongst tourists from all over the world. Located in the Jasmund National Park in the northeastern part of the Rugen Island, these have been subject to constant erosion. Towering high above the Baltic Sea is the Konigsstuhl, which is also popular as the most majestic part of the Rugen Cliffs. These chalk white cliffs are very popular for their mesmerizing sights, great aura and an incredible atmosphere of romance.

Immobilienmakler Heidelberg

Makler Heidelberg

Real Estate Photography Tips for Beginners

Even with the recession, real estate is a billion dollar market in all the major developed and developing countries. What do you think is the first thing people see when scouting around to buy property? The answer would be the pictures of the property in question. Human beings respond better to visual stimulation.

Therefore, quality and interesting photography matters a lot and if you are a property photographer you should take it seriously. Why? Because your livelihood depends on it! If you are trying to sell real estate photographs to realtors and they are not worth the dollars the realtor pays, your effort goes to waste.

Real Estate Photography Tip #1: Capturing the Best Images

The intention is to sell the property so your photography should definitely be appealing to the people who view them. Try to highlight the best features of the house; the features that potential buyers will like to see matter the most. The photography also depends on the nature of the property – residential or commercial. Actually the pictures should showcase your talent and skill. While searching for realtors to see the images, sometimes you need to provide samples so capturing the best of images will greatly help to clinch the deal.

Real Estate Photography Tip #2: Selling the Images

To earn a living in this type of photography professionally, give yourself 1-2 years of time for creating a solid base of clients. You can set up a professional website with your portfolio, current projects (if any), specialization, skills, and lots of high-definition clear pictures for prospective buyers to see. Of course, you need to do a lot of marketing for getting the clients. Begin by scouting the area you are living in and any others that you have easy access to. Contact the realtors in the area, show them sample images and if luck is on your side, you will land your first deal soon!

Real Estate Photography Tip #3: Getting High Profile Clients

Getting high profile realtor clients who will buy your pictures is not easy because there are always better photographers around you and also you lack experience in the beginning. So after working for a year or two with local realtors, think of migrating towards getting high profile clients. The pay rate is definitely higher but you need to have real skill and knowledge to get an edge over others. Question yourself – what is there in you that sets you apart from other real estate photographers? Once you answer this, build on that aspect for better projects.

Of course, getting the high profile clientele is not easy. Be prepared for sample photo shoots as part of a personalized sales pitch.

Immobilienmakler Heidelberg

Makler Heidelberg

Defensive Buying – 5 Ways to Buy Smart in a Down Economy

Depending on where you live, your local real estate market may be experiencing a downturn. Historically, these market adjustments have served as a natural protection against runaway price inflation, and in the long-run can be very positive, but as a buyer in one of these markets you must buy smart to protect your financial future.

Here are 5 ways in which you can take advantage of a down market and protect your interests for the future at the same time…

1. Look at the local job market. Know who the major employers are in town and where their employees typically live. Read the papers and pay attention to the stability of these employers. If the company is in financial trouble, or is going to lay off employees, be careful about buying in areas heavily populated by their employees. Yes, you may get a great deal, but home prices may drop dramatically around you and cause you to lose money. Plan for that in your negotiations.

2. Research new commercial developments in your area. If you discover that a new retail / commercial center is going in near an area you desire to live in, take the time to find out what stores are planned for the development, and look at how things like traffic flow and access are going to be addressed. A bad plan can negatively affect area property values, but conversely a well-planned development can draw buyers like a magnet raising property values.

3. Learn about zoning. If you buy a home right next to land zoned for commercial development and you do not realize it, your property value could be negatively affected by the increase in traffic and the type of development. If you are looking in a fully-developed residential area this may not prove to be much of a factor, but be aware of any nearby open spaces and their zoning that could make access to your residential area more challenging. Again, good developments can be to your benefit, but consider how the changes could affect value in your negotiations.

4. Drive the area you desire to live in. Take a camera and a note pad to record what you find. Look for things like for-sale signs, blighted properties, new construction or residential developments, open lots and land, road construction and access, and the availability of retail services. Lots of ‚for sale by owner‘ or real estate signs could spell trouble as numerous homes for sale could cause a price reduction war to sell. Again, it may be to your benefit, but you must consider this in your negotiations.

Blighted properties will reduce the value of homes in the immediate area, and new construction, or anything that increases housing density can ultimately reduce value in a slow market as inventory increases and the number of buyers decreases. Be wary of new developments without any noticeable construction activity as there may be financial issues that could affect the value of all of the homes in the area. Don’t be the sucker that pays top price for a home nobody wants.

Open lots and the availability of land can be a positive depending on the area you are looking in, but keep in mind that zoning can change and there are lots of commercial developers out there looking for any sliver of land possible to develop in many markets.

5. Negotiate strongly with the seller. I am a firm believer in homes being exchanged for fair market values, meaning the transaction should be a win-win, but that doesn’t mean you cannot, or should not attempt to negotiate your best terms. Do your research and come to the table armed with extensive, current market knowledge, and a willingness to set your final terms and stick with them. Be reasonable, but firm. Be aware of the long-term implications of your purchase and ensure you have an exit strategy in place. Most importantly, do not be afraid to stand your ground. If you have done your research, the numbers will speak for themselves.

I hope these ideas will help you make a smart purchase in a down market. You must keep in mind that even if you get a great deal on a home, the market can continue to slow down and negate your gains. Know your market well enough to withstand the fluctuations. Above all, secure competent, knowledgeable assistance from professionals in the real estate industry to answer your questions and educate you so you can buy smart in our current market.

Immobilienmakler Heidelberg

Makler Heidelberg

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