Common Reasons Why Your House is Not Selling

Why the house has been sitting on the market for months can be attributed to several reasons. As an owner, it is wise to know the things that push buyers away so you can create actions to prevent them.

Lack of curb appeal. First impressions last – this much is true in every real estate transactions. You need to capture a buyer’s attention and make sure to leave a lasting impression otherwise, he will simply move on to the next listings. But what kind of impressions should you make? The kind that will make any buyer think that your house is what he needs.

External maintenance is as important as the house maintenance. If a buyer is turned off by a lack of exterior maintenance (bad fence, cluttered pathways, and overgrown grass) then most likely he will have a bad impression of the house itself. It is no wonder that he may not even take the time to see the house.

Unreasonable expectations. Overpricing is the most common reason why buyers stay away from your property. Although it is typical that as an owner, you will think that your house is above all the others, this is not always the case. To attract buyers, you have to think like a buyer.

• Pretend that you are shopping for a new house and compare yours to others. 
• Is your house beautifully staged?
•  Is it located in a more desirable area of the subdivision?
•  Does it have all the modern amenities?
•  Is it built by highly regarded home builders?

Does your house compare? If your answer is NO, then you have a work to do.

Lack of proper marketing. You have the most beautiful house in the area but do buyers know about it? Aggressive marketing plays an important function in getting potential buyers. Whether you are selling the house on your own or you are working with an agent, you have to make sure that your property has the maximum exposure. Make use of the social media, create a personalized website, list in multiple listings, distribute flyers, and ask for referrals.

If you need help in selling your house, contact Lucas Properties. They have been in the industry for many years and have helped many home owners who find it difficult to sell their homes.

Home: Renting Out vs Selling

Your family has grown its number because you now have babies. You are doing well with your job and you feel that it’s about time to have a bigger home. One common question that you might have in mind is “Should I rent out my home?” or “Should I sell my home?” Before you decide which way to go, here’s what you should consider:

Do you want to be a landlord? Being a landlord is not easy. You should be available for your tenant if something goes wrong in the property – a pipe breaks, there’s a problem with electricity, kitchen needs repair, and so on. You should also be prepared in dealing with difficult tenants who will cause damages your property or are late in paying rents.

Can you afford to rent out? Since you are getting a bigger and a better place, ask yourself if you have enough to buy your next home. Maintaining two properties requires large amount of money in reserve. You should have a backup if your tenant did not pay the rent on time or if the property needs repair. Worst scenario is if you need eviction proceedings to move non-paying tenants. Eviction is a very tedious process not to mention very costly. As the landlord, you should be prepared for the worst.

You should consider the taxes when renting out your property versus selling. When you rent out your home you will still pay tax for your rental income but when you sell out your home you will not only earn money from your property, you could also earn money in capital gains tax-free. If you know of someone who will treat your home as their own, then by all means have your home rented. But if you think owning two properties is more of liabilities than an asset then sell your home quickly.

How to sell your home quickly? Sell it to private property investors like Lucas Properties LLC. They buy houses, apartments, and commercial properties in “as is” condition. In a matter of few days, you can walk away with cash for your home.

When You Are Facing Foreclosure

When you are facing foreclosure, you are entitled to be mad at the world. After all, why this happens to you? You’ve been doing an honest job, you have never cheated, you’ve been good to the community and yet you are struggling with your finances. And now, you are facing foreclosure. You can lament for the unfairness of the situation but still, foreclosure won’t go away unless you do something about it.

If the most dreaded “F” word has come into your life, here are a few things you can do to avoid foreclosure:

Get additional sources of money.

• If you can have two or more jobs, then do it. More jobs mean more income for you to support your financial needs.
• Borrow money from family and friends. The keyword is borrow, not ask. It will be easier for them to loan you money because they know that you are planning to repay them. It is even better if you can present a repayment plan that is enough for your budget.
• Get a loan from your car that would tie you over until you are able to take control of your finances.

Apply for loan modification or government programs.
    Foreclosure is not instantaneous; it can take up to 12 months depending on your lender and your location. If you receive a notice from the bank about the incoming foreclosure, do not kill the messenger. Read the fine print and take the phone calls. In fact, the first thing that you should do is talk to your lender. You will be surprised to know that your lender will be happy to work with you because they too, are avoiding foreclosure.

    Check out government programs and see if you qualify. You may need to apply for the program through your lender. It is another good reason why you should work with your lender.

Sell your home quickly.
    Yes, selling your home to avoid foreclosure is not that bad. You may lose your home in the process but with your credit score intact; you can qualify for a loan and own another home in no time. 

Sell your home for cash to Lucas Properties LLC. They are a private property investor who have been in the industry for years; helping homeowners with distressed properties to have a chance at getting back to their feet again.