real estate

In this series we will be highlighting burgeoning entrepreneurs in the modern era. These are folks who have taken the risk of quitting their conventional jobs in pursuit of their passions. This is a difficult road that many never find the courage to venture upon, but the rewards are so worth it, and as you know, no risk, no reward, know risk, know reward.

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If you're selling your home or plan to do so soon, a little strategic planning can mean more dollars in your pocket. You want the most you can get for the place, don't ya? These 4 "Ss" will have you seeing dollar signs once the "for sale" sign is taken down, thanks to their value-increasing benefits. While you may want to get the home on the market right away, it's worth the effort to make these changes and fairly quick fixes so your home can be as sought-after as possible. Sell with these "Ss" completed and watch the price tag numbers go up. Your first showing will prove the time spent did the trick.

Simplify

Decluttering is one of the best ways to make your space instantly more appealing. No potential buyer is interested in tripping over your kids' toys or being distracted by the silly knick-knacks you've collected over the years. The more you make your home as "generic" as can be, the more the potential buyer(s) can picture themselves living there… with their stuff.

According to Consumer Reports, "Vital to the process is de-cluttering and depersonalizing the space as much as possible. Buyers will have a hard time imagining themselves in your home if it's filled with family photos and other personal effects." Additionally, HGTV notes, "A clutter-free home appears cleaner and larger, which is more attractive to homebuyers and therefore more valuable."

If you're place is a real mess, you may want to consider hiring a pro to help clear things out, and Consumer Reports estimates the cost for such a service can run anywhere from $600 - $2,500. Seems steep, but on the bright side, they claim the potential return goes up 5%. Plus, since you're moving anyway, this clean-out will help you when it's time to pack up and go.

Spruce Up

A few fix-ups can make a world of difference in the appearance of your home. You don't have to go all out and make major repairs or renovations, but spiffing things up by applying a fresh coat of paint, filling chips and cracks, removing or steam cleaning a dirty carpet, re-grouting, etc. will make your home a whole lot more appealing.

This Old House recommends dealing with the basics rather than doing anything too pricey or extravagant. "Insulate the attic, repair plumbing leaks, replace rusty rain gutters, inspect the furnace and the septic system, replace or repair leaky windows, install storm doors, etc." As This Old House says, "A couple hundred dollars spent could increase the value of your house by a few thousand dollars."

Along with indoor touch-ups, consider the first impression. Bankrate suggests to "reframe your entry." "A nice, big piece of hardware on the front door signals to newcomers that this is a solid home." And Consumer Reports recommends a power washing followed by any needed paint touch-ups, especially on the front of the home.

As per This Old House, "Brokers and agents from across the country say the houses that get attention in this buyer's market are in tip-top shape. Because there is so much inventory, the houses that sell are in pristine condition and are priced to the market." Don't let a few neglected simple fixes trip up your chances of selling.

Smell Fresh

A potential buyer wants to walk into a home that smells good. If anything makes them turn up their nose, how could they ever imagine living there? As per U.S. News & World Report, "Realtors always say that your home needs to smell great before a showing."

One way to eliminate any stale odors in the home is by using baking soda, as U.S. News & World Report recommends. Use some on the carpets, in the fridge, and even inside the trash cans to absorb unpleasant odors that you may have grown used to.

Some recommended scents that appeal to most, as suggested by U.S. News & World Report include pine, vanilla, and citrus. Don't go overboard, but a light scent wafting through the home will make potential buyers feel welcomed and comfortable. Try a light air freshener, candles, or oils.

Along with providing a pleasant scent, wipe down all tabletops and shelves, clear out pet cages and litter boxes, and make sure the bathroom is mildew- and odor-free before any showings. Run a fan or two to clear the air to make for total freshness throughout the home. And one last trick… bake a batch of cookies! The familiar scent will make anyone looking at the place feel like they're home.

These quick fixes are nearly cost-free, but the change they'll make will give a potential return of at least 3% as per Consumer Reports.

Scenery

The surrounding yard space of your home is nearly as important as what's going on inside. An unkempt lawn, untrimmed hedges, and poorly manicured landscaping make for a poor first impression. Consumer reports suggests, "Start with basic maintenance: mowing the lawn, trimming overgrown shrubs, applying a fresh layer of mulch to garden beds."

According to This Old House, "Tangled trees and unkempt bushes can obscure views, darken interiors, promote mold, and block a good look at the house. Landscaping is one of the top three investments that bring the biggest return. According to a 2007 survey of 2,000 brokers conducted by HomeGain, an online real estate marketing site, an investment of around $400 or $500 dollars in landscaping, can bring a return of four times that."

But what if you're not the gardening type? Bankrate has the solution, "If you don't have a green thumb, consider hiring a landscaper to install some new sod, plant a few evergreen shrubs and give your front yard a good cleanup. These kinds of changes can instantly change people's perception of your home and, therefore, increase its value."

With these 4 "Ss" completed, your showings will be at their peak. Your realtor will thank you and the potential buyers will be delighted. And you will enjoy the extra bucks your home is sure to sell for!

If you're thinking of getting into the real estate market – be it looking for a new home or seeking to sell – knowing where your city falls on the spectrum from best to worst real estate markets is not only wise, but can make a big difference in how things pan out for your purchase or sale.

Thanks to a recently released report by WalletHub, you can now see where your city and state rank based on 16 key metrics the site found to be the best indicators of market value. Each metric was given a grade on a 100-point scale – 100 being the best, 0 the worst.


300 U.S. cities across the country were measured, using key factors such as maintenance costs, city size, how long it takes for a home to be sold in the area, negative equity, home-price appreciation, and more. These factors folded into two key dimensions: real estate market and affordability and economic environment. This lead to two comprehensive lists – one naming the 10 best real estate markets of the 300 cities, and 10 naming those at the bottom of the barrel.

Being that the housing market is on the upswing, as per WalletHub, this is a particularly popular time to review such findings to stay abreast of the current real estate atmosphere. Now seems to be the time to buy or sell, so by understanding value, location, and what's to be expected puts you ahead of those going in blindly.

Drum roll please… Here are the 10 best and 10 worst. Did your area of interest make out on top?


Best Real Estate Markets:

1. Frisco, TX

2. McKinney, TX

3. Richardson, TX

4. Murfreesboro, TN

5. Austin, TX

6. Allen, TX

7. Overland Park, KS

8. Thornton, CO

9. Plano, TX

10. Arvada, CO



Worst Real Estate Markets

291. Baltimore, MD

292. Waterbury, CT

293. Hartford, CT

294. Fall River, MA

295. Flint, MI

296. Cleveland, OH

297. Elizabeth, NJ

298. Detroit, MI

299. Paterson, NJ

300. Newark, NJ


As evident, Texas is doing it right. 6 of the top 10 cities for real estate are located in the state. When they say, "Don't mess with Texas," it's true! New Jersey didn't fare well overall, with three Jersey cities falling flat in the bottom 10. That said, there are areas of the state with far better rankings, all of which can be found in the in-depth report.


See the entire report and learn how your area of interest fared in this WalletHub study here:
https://wallethub.com/edu/best-real-estate-markets/14889/

They say, Home is where the heart is. We say, home is where the money is.

Investing in the stock market is the classic way to invest. You buy a stock, then wait for it to make you money. You don't have to get your hands dirty. But going classic is not always the best way to go, especially when you have the potential to make even more by trying another investment strategy.

Two words: Real Estate. We know what you're thinking. Maybe you won't be like the cast of Million Dollar Listing, who scours Los Angeles for the most dazzling homes and receives commissions that could buy several bungalows in the Galapagos. But you could use real estate to your advantage with a little research and a little heavy-lifting. It may just be worth it in the end.

So you want to become a landlord? If you decide to go on this path, you'll have to buy the property, pay the mortgage, and the tax and maintenance costs. You'll be responsible for renting out rooms to tenants and vetting them so they won't drive you crazy knocking on your door at 3am. But after all is said and done, you get the mortgage out of the way, and break even, you'll get the chance to raise your rent and collect positive cash flow.

What's that you said about cash flow? Not just positive, but it could actually be tax-free, depending on if you're classified as an active investor, a real estate professional, and of course, depending on your income. To find out more on if you're qualified, check this out.

The other thing about investing in property is that it forces you to make a commitment. Afraid of the C-word? Here's why you shouldn't be. According to an article on Entrepreneur.com, "Rental real estate is a forced retirement plan. Americans are terrible savers. We lack the self-discipline to put a monthly deposit into our IRA, SEP or 401k as small-business owners. However, buying a rental property is a significant commitment that you are required to commit to and maintain. You will always be grateful in the long-run when you don't give up on it and build future cash flow and wealth."

If you're not interested in being a landlord, consider an REIT. It stands for Real Estate Investment Trust, and it means you can invest in a portfolio of properties by purchasing stock. You'll get paid dividends which will act as consistent income. For more on the different types of REITs, and to see what's right for you, click here.

The real estate market may also be a more stable option than the stock market, depending on the season. Investopedia cites the example of the "Flash Crash" of May 2010 as a moment when the stock market was highly volatile, therefore lauding the "more stable pricing" of real estate.

Investor Peter Koulizos agrees:

"When you factor in the return and risk associated with buying property and shares, property wins hands down, shares have [marginally] higher capital growth, but the difference in risk is huge. The risk is measured in variation in returns and capital growth (or loss) on shares can range from +40% in a year to -40% in a week! You don't get that sort of variation in property, hence it is considered a safer investment."

Investing in property is a great option that can lead to impressive profit. Anyone can throw money at the stock market, but some of us should go back to the nest.

Here's how to get started.