You’re buying a new construction home! Congratulations! Once you’ve stopped drooling over the $250k in upgrades in the model home, it’s time to start designing your piece of the American dream! Before your first design appointment, tour a couple of homes in various stages of the construction process to get an idea what your home looks like without makeup on. In this article, we lay out “essential” upgrades, “nice-to-have-if-it’s-in-the-budget” upgrades, and “you’re-better-off-spending-your-money-on-fireworks” upgrades.
Both Opendoor and OfferPad make sellers online offers on homes virtually sight unseen, make minor repairs, and re-sell the homes for a profit. These aren't fix and flippers, they simple make minor improvements to enhance the showing experience and get top dollar for the homes they purchase.
After the banking industry got caught with their pants down in 2008, it appears the “lender pendulum” has swung the other way. In 2005, anyone who fogged a mirror could obtain a half million-dollar loan, and they did. Although bank stocks tumbled during the crisis, the banking industry benefited handsomely from the Feds loose monetary policy. Now they are costing home sellers thousands in equity by “rounding down” in the name of fiscal responsibility.
Coming soon to the Phoenix market in February will be Gilbert based start-up firm Housso offering a flat fee of $2,995 for their full service listing plan and Utah based company Homie offering a more remote selling experience for roughly $1,500.
Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.
Flat-fee full service discount brokerages are starting to show their muscle and it doesn't appear they'll be going away anytime soon. Since Dan Quayle invented the internet (source: Dan Quayle) homeowners have been paying roughly 6% to sell their homes despite plummeted marketing cost for real estate agents.