Josephine & Raj Sharma

Hi Allison, more exposure your home gets the better your chance of selling you home for top dollars and in some market get multiple offers. Working together with your agent is always a win-win. Just remember sizzling sells and your home should have a good amount of showing in the first 2-3 weeks to get it sold and avoid sitting on the market for long time.

Hi John, the best course of action with inherited property depends on individual circumstances and financial goals. Some options include selling the property, renting it out, using it as a primary residence, or holding onto it as an investment. It is recommended to consider factors such as market conditions, property maintenance costs, and tax implications before making a decision. Seeking the advice of a financial advisor or your CPA may also be helpful.

Hi Eric, Yes, it is possible to find a multi-family home that is eligible for financing under the Federal Housing Administration (FHA) loan program. The FHA offers loans for the purchase of multi-family properties, such as duplexes, triplexes, and fourplexes, with a low down payment and more flexible underwriting criteria compared to traditional loans. To find a multi-family home that is eligible for an FHA loan, you can search for properties on real estate websites, work with a real estate agent who specializes in FHA loans, or contact an FHA-approved lender. The lender can help you determine if a specific property is eligible for financing and assist you with the loan application process.

Hi Lucretia, a real estate broker is a licensed professional who acts as an intermediary between buyers and sellers of real estate properties. They are authorized to negotiate and facilitate real estate transactions on behalf of their clients. A real estate agent is also a licensed professional who works with buyers and sellers of real estate properties. However, the key difference is that agents typically work under the supervision of a broker and do not have the same level of autonomy or authority as a broker. Whether it is better to work with a broker or an agent depends on your individual needs and circumstances. A broker typically has more experience, knowledge, and resources compared to an agent. However, an agent may be more accessible and offer a more personal approach. Ultimately, the most important factor is to work with a licensed and reputable professional who can effectively represent your interests and help you achieve your goals in the real estate transaction.

Hi Trent, Contingent sale simply means the property is now under contract and pending sale and seller is taking backup offers. Hope this answers your question.

The right amount of open houses depends on several factors, such as the type of property, its location, the local market conditions, and your personal marketing strategy. On average, 3-4 open houses can be sufficient for generating interest and attracting potential buyers. However, more open houses may be necessary in a highly competitive market or for a luxury property. Ultimately, the goal is to balance the frequency of open houses with their effectiveness in finding the right buyer for your property.

It is not a requirement to set an offer deadline when selling your home, but it can be a useful tool in managing the sales process. A deadline for offers can create a sense of urgency for potential buyers and encourage them to submit their best offer in a timely manner. Ultimately, the decision to set a deadline for offers depends on your individual circumstances and what you feel is best for selling your home. It also depends on the market condition in your area, if the homes in your area are selling very fast like it was last year then this will be good idea, but if the market is slow then it make not work, check with your real estate agent how the market is doing in your area.

The out-of-pocket expenses for selling a house can vary, but some common costs include: Realtor commission, Closing costs: These are fees associated with the transfer of ownership, including title search fees, title insurance, escrow fees, and recording fees. Repairs and renovations: If you need to make any repairs or renovations to your home prior to selling, these will be an out-of-pocket expense. Home staging: If you choose to stage your home, you will need to pay for the cost of staging, including furniture rental and any additional decor. Marketing expenses: If you choose to market your home beyond what your real estate agent is doing, there may be additional expenses for things like professional photos, virtual tours, and advertising. It is important to budget for these expenses when planning to sell your home, and to work with your real estate agent to determine a realistic estimate. Most selling cost is paid at closing from your net proceeds from the sale of the home. Getting the house ready before the sale are out of pocket expense which will we different for each seller depending on the amount of work it needs. Your real estate agent can get you a seller estimated net sheet to show you the selling costs to give you a better understanding of sale price to net amount.

Yes, you can have someone else pay the mortgage on a house that you have purchased, but there are some legal and financial considerations you should be aware of. If you are the owner of the property and have taken out the mortgage in your name, you are ultimately responsible for making the mortgage payments. You could arrange for your parent to pay you directly for their share of the mortgage, but this may not necessarily protect you from tax consequences, as you may still be considered the recipient of rental income. To avoid any potential tax issues, you could consider adding your parent as a co-borrower on the mortgage loan, or have them rent the property from you. It is important to consult with a tax professional and a real estate attorney to understand the legal and tax implications of any arrangement you are considering, as well as to ensure that all necessary steps are taken to protect your interests.

A probate sale in real estate occurs when a person passes away and leaves behind a property that needs to be sold to settle their estate. Probate is the legal process that occurs when someone dies, and their assets, including real estate, must be distributed according to their will or state law. When a property is sold through probate, it means that the court has given permission for the executor or administrator of the estate to sell the property. The sale is typically handled by a court-appointed real estate agent and the proceeds from the sale go towards paying off any outstanding debts of the deceased and distributing the remaining assets to beneficiaries. Probate sales can be more complicated and time-consuming than regular real estate transactions, as there may be legal and administrative hurdles to overcome, and there may be multiple parties involved in the decision-making process. Additionally, the property may not be in the best condition and may require repairs or renovations to make it marketable. However, probate sales can also present opportunities for buyers to purchase real estate at a discount, as the sellers are often motivated to sell quickly.

CMA in real estate stands for Comparative Market Analysis. It is a report that provides an estimate of the value of a property based on the recent sales prices of comparable properties in the same geographic area. To prepare a CMA, a real estate agent or appraiser will research recent sales of similar properties in the same neighborhood, taking into consideration factors such as the size, age, condition, and location of the homes. They will then make adjustments to account for any differences between the properties being compared, such as the number of bedrooms, bathrooms, or the presence of a garage. The resulting report will provide an estimated value for the property in question, based on the sales prices of the comparable properties. This can be a useful tool for both buyers and sellers, as it provides an objective assessment of the current market value of a property, which can help inform pricing and negotiation strategies.

Yes, staging a house in Seattle can be worth it as it can help you sell your home faster and for a higher price. Staging involves decorating and arranging your home to showcase its best features and create an inviting atmosphere that appeals to potential buyers. This can help buyers visualize themselves living in the home and can make your property stand out from others on the market. Your real estate agent can guide you with this and let you know if this is needed in your local market.

It is important to speak with a professional financial advisor or mortgage lender who can provide personalized guidance based on your financial situation, goals, and current market conditions. That being said, it is important to consider the current mortgage rates and how they may impact your ability to afford a home. While waiting for rates to go down may seem like a good strategy, there is no guarantee that they will decrease, and they could also rise even higher. Additionally, refinancing a mortgage later may involve additional fees and closing costs, so it is important to factor those costs into your decision as well. Ultimately, the decision to buy a house should be based on a variety of factors beyond just mortgage rates, including your current financial situation, long-term goals, and personal preferences.

Yes, you can sell a vacant house after a fire. However, the sale of a house that has been damaged by fire can be more challenging than selling a house in good condition. When selling a house after a fire, it is important to be transparent about the damage caused by the fire. This means disclosing the extent of the damage to potential buyers and being prepared to negotiate a lower price to account for the necessary repairs. It may be helpful to work with a real estate agent who has experience selling homes that have been damaged by fire. They can help you navigate the process, determine an appropriate asking price, and attract buyers who are interested in purchasing a fixer-upper.

Here are some things to consider when selling a deceased estate property: Determine who has legal authority: Before selling a deceased estate property, it is important to determine who has legal authority to sell the property. This may be the executor or administrator of the estate, who has been appointed by the probate court. Obtain necessary documentation: The executor or administrator should obtain the necessary documentation, such as the death certificate and the will, if there is one. This documentation may be required by the probate court or the real estate agent. Determine the value of the property: The executor or administrator should obtain an appraisal or valuation of the property to determine its fair market value. This can help to set a reasonable asking price. Hire a real estate agent: It is recommended to hire a real estate agent to assist with the sale of the property. The agent can help with pricing, marketing, and negotiating the sale. Prepare the property for sale: The property should be cleaned and any necessary repairs should be made before it is listed for sale. This can help to attract potential buyers and increase the value of the property. Consider any tax implications: There may be tax implications associated with selling a deceased estate property, such as capital gains tax. It is important to consult with a tax professional to understand these implications. Communicate with beneficiaries: The executor or administrator should communicate with the beneficiaries of the estate to keep them informed about the sale of the property. This can help to prevent any misunderstandings or conflicts. Overall, selling a deceased estate property can be a complex process, consult with a real estate attorney, but with careful planning and preparation, it can be successfully accomplished.

Hi Leigh, please research the real estate market in your area. If updated kitchens are in high demand and can significantly increase the value of your home, it might be worth considering a remodel. Real estate agents are experts in local market trends. Consult with a local real estate agent to get their opinion on whether a kitchen remodel would be beneficial in your situation.

Primary Residence Exemption: Many countries offer tax benefits for the sale of your primary residence. For example, in the United States, there is a provision that allows you to exclude up to a certain amount of capital gains ($250,000 for individuals, $500,000 for married couples filing jointly) from the sale of your primary residence if you meet certain ownership and use requirements. This means that if you live in the house for a specific period (usually at least 2 out of the last 5 years), you might not have to pay capital gains tax on the profit when you sell it. 1031 Exchange (USA Only): In the United States, a 1031 exchange allows you to defer capital gains tax when you sell an investment property and reinvest the proceeds into a like-kind property within a certain time frame. This essentially allows you to "swap" properties without immediately triggering a capital gains tax liability.

Deciding whether to remove a popcorn ceiling before selling your home depends on various factors, including the condition of the ceiling, the local real estate market, and the preferences of potential buyers. Buyer Preferences: Popcorn ceilings, also known as acoustic or textured ceilings, were popular in the past, but many buyers nowadays prefer a more modern and smooth finish. Some buyers might even see popcorn ceilings as outdated or potential maintenance headaches, which could influence their decision.

Whether or not you should avoid an Adjustable Rate Mortgage (ARM) loan depends on your individual financial situation, risk tolerance, and long-term goals. Initial Interest Rate: ARMs typically start with a lower interest rate compared to fixed-rate mortgages. This lower rate can lead to lower initial monthly payments, which can be attractive to borrowers looking to save money in the short term. Always compare fix rate vs. arm loan to see the difference and which one make more sense.

Absolutely, you can request that people remove their shoes during showings of your property.

The loan for a condominium (condo) can be different from a loan for a standalone house. While the basic principles of obtaining a mortgage loan are similar, there are certain nuances and considerations specific to each type of property. It's important to work closely with a knowledgeable loan officer or mortgage broker who understands the nuances of both condo and house loans. They can help you navigate the intricacies of each type of loan, determine the best financing option for your needs, and guide you through the application process. here is our blog post related to this topic: https://legacyhomesrealty.com/real-estate-blog/differences-between-condo-loans-and-house-loans-what-you-need-to-know/

A pocket listing refers to a real estate listing where a property is not publicly advertised on the Multiple Listing Service (MLS) or other public listing platforms. Instead, the property is marketed privately within a network of real estate agents, potential buyers, and sometimes a select group of individuals. The benefits of a pocket listing can vary depending on the situation, Pocket listings can be beneficial for sellers who want to minimize disruptions to their daily lives, as they may only have to deal with a smaller pool of serious buyers.

Hi, Days on market is a time the house has been on the market for sale, longer the days on market the longer it has been listed for sale on the market and not sold. Hope this helps.

Absolutely! Just let the Realtor know in advance that your friendly pup will be in the yard on a leash during the showing.

This is a tough questions but all signs are showing it will not decrease in value anytime soon, demand is still there and the Fed has decided not to increase the rate anymore and in 2024 plan to lower the rates 3 times which will bring more buyers on the market and increase in demand.

Before making a decision, I recommend visiting Lake Elsinore, exploring different neighborhoods, and talking to local residents to get a better sense of whether it aligns with your needs and preferences. Additionally, consulting with a real estate agent who is familiar with the area can provide valuable insights into the housing market and help you make an informed decision. Feel free to contact us we work and live in the city. Happy to answer all your questions.

Hi, this is a great question, most places have special programs for first time home buyers and some state and county offers assistance as well. Check with your local loan lender to see what you qualify for. Most likely with FHA loan you can put 3.5% down payment or 5% down with conventional loan.