Jill Finkelstein - Compass



Posted by Jill Finkelstein on 4/5/2020

Image by mohamed Hassan from Pixabay

When thinking about investments, the first rule is to diversify. This allows you to invest in a few different things that may vary in risk or pay off. One option for diversifying investments comes in the form of real estate. For many people, purchasing a home is one of the most expensive investments they will make in a lifetime but don't forget that housing prices tend to appreciate in value. This means that there are investment opportunities available in this industry.

Look for a Real Estate Crowdfund

One of the most popular options is to look for a real estate crowdfunding opportunity. Many people don't have the savings to purchase real estate directly. If that is the case, look for opportunities to pool your money with the funds of other investors to purchase a property. This is termed crowdfunding. This is similar to investing in the stock market; however, instead of purchasing shares of a company, you can purchase shares of real estate properties. As the real estate property goes up in value, so will the value of the investment. This allows people to invest in money without starting with a large sum.

Purchase Property Directly

Another option for investing in real estate is to purchase property directly. Some refer to this as "flipping;" however, the actual process is more complex. When evaluating real estate investment opportunities, the key is to look for properties that have significant upside. This may come in the form of homes that need just a few repairs or property in a location that is expected to grow in popularity over the next few years. This way you know you have a good chance of selling the property for a profit within a reasonable amount of time. If you're interested in this option, it is important to build a team of real estate agents, contractors, and other experts that know the local area. This can help you can stay ahead of trends and keep in touch with any shifts in the market.

Rent Out Existing Properties

After purchasing property, is also important to generate an income as the property increases in value. Consider renting the property to reliable tenets. If it's not something you want or have time for, hire a property management company to help with landlord tasks such as routine maintenance or vetting tenants. This allows you to not only generate capital gains but also have a steady, reliable stream of income.




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Posted by Jill Finkelstein on 3/29/2020

If you recently bought or sold or home, it may be only a matter of time before you need to move into a new residence.

The stress of getting ready for moving day can be overwhelming, particularly for those who have lots of items to pack but only a limited amount of time to do so.

Lucky for you, we're here to ensure you can enjoy a seamless moving day.

Now, let's take a look at three tips to help you prepare for moving day.

1. Begin Packing Up Your Belongings ASAP

Start packing today, and you'll be able to get your belongings ready for moving day. /p>

Categorizing your moving boxes usually is a great idea. For example, placing kitchen items together may make it easier for you to unpack all of your kitchen belongings at once when you arrive at your new address.

Don't forget to declutter while you pack as well. If you find there are items that you no longer need, you may be able to sell them or donate them to charity before moving day arrives.

In addition, if you need a moving truck to transport your belongings from one location to the next, you should make reservations as soon as you can. The longer you wait to book a moving truck, the less likely it becomes that one will be available for your upcoming move.

2. Cancel Your TV, Internet and Phone Services

As moving day approaches, it can be easy to forget to cancel various services at your present home. However, if you contact your TV, internet and phone services providers today, you won't have to worry about canceling these services on moving day.

In many instances, you may be able to transfer your TV, internet and phone services to your new address. Your services providers will be able to provide full details about all of your options so you can plan accordingly.

Reach out to your utilities providers and other services providers to inform them about your upcoming move too. You also should fill out a change of address form with the United States Postal Service to ensure your mail goes to your new address after moving day.

3. Conduct a Final Walk-Through of Your Current Residence

Before you leave your current location, be sure to complete a final walk-through of your residence. This will allow you to locate any missing items and bring them with you to your new address.

Getting ready for moving day often requires hard work and patience. And if you need extra assistance along the way, your real estate agent may be able to lend a helping hand.

Your real estate agent is a housing market expert who understands exactly what it takes to buy or sell a residence. He or she is happy to provide support at each stage of the homebuying or home selling cycle and ensure you can quickly and effortlessly move from one home to another.

Take advantage of the aforementioned tips, and you should have no trouble prepping for moving day.





Posted by Jill Finkelstein on 3/22/2020

Requesting a home showing usually is a great idea if you find a residence you may want to buy. In addition, there are many things you can do to get the most out of any house showing, at any time.

Now, let's take a look at three tips to help you attend a home showing and determine if a particular residence is right for you.

1. Analyze All Areas of a Home

A home showing enables you to get an up-close look at all areas of a residence. Thus, you should examine each room in a house during a showing so you can envision what life may be like if you acquire this residence.

Don't forget to walk around outside a house, too. By doing so, you can evaluate a home's yard and other outdoor amenities, as well as the condition of a house's roof and siding.

2. Don't Hurry

There is no need to feel rushed during a house showing. Instead, take as much time as you need to walk around a house and perform a full property evaluation.

If you find you still want to know more about a home after a showing, don't stress, either. You can always request a second home showing to further evaluate a residence at your convenience.

3. Ask Questions

A home showing provides an unprecedented learning opportunity. As such, you may want to ask questions as you walk around a house so you can receive instant home insights from a seller's agent.

Furthermore, it is crucial to remember that there is no such thing as a "bad" question. If you are unsure about whether a house suits you perfectly, ask questions about the residence. That way, you can gain the insights you need to make an informed decision about whether to submit an offer to purchase a home or continue your house search.

As you get set to embark on the homebuying journey, you may want to collaborate with a real estate agent as well. This housing market professional can help you prepare for a house showing, along with provide insights into the homebuying journey that you may struggle to obtain elsewhere.

If you view a house with a real estate agent, for example, you can follow up with this housing market professional after the showing. Next, a real estate agent can help you weigh the pros and cons of a residence. And if you decide you have found your dream home, a real estate agent can help you put together a competitive offer to purchase this residence.

For homebuyers who are on the fence about whether to request a house showing, you may want to consult with a real estate agent right away. With a real estate agent at your side, you can get the support you need to streamline the homebuying journey. As a result, you can work with a real estate agent to find and acquire your dream residence without delay.




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Posted by Jill Finkelstein on 3/15/2020

As a home seller, you likely want to set a "fair" initial asking price for your residence. Because if you fail to do so, you risk pricing your home outside of your target buyer's price range. Perhaps even worse, you risk pricing your house too low – something that may cause you to miss out on the opportunity to maximize your home sale earnings.

Ultimately, there are lots of things that you can do to ensure you establish a fair initial asking price for your residence, and these include:

1. Study the Local Housing Market

For home sellers, it is important to perform plenty of research before you list your residence. If you assess the local housing market closely, you can obtain insights that you can use to set a fair initial asking price for your home.

Evaluate the prices of available houses in your city or town that are similar to your own. This will help you determine the price range for comparable houses in your area.

Also, find out how long some of the recently sold houses in your city or town were available before buyers purchased them. This can help you differentiate a buyer's market from a seller's market so you can price your house appropriately.

2. Conduct a Home Appraisal

A home appraisal delivers immense value, as it enables you to receive a property valuation. Once you have a property valuation in hand, you may be better equipped than ever before to determine how to price your house.

In addition to a home appraisal, you may want to conduct a house inspection as well. During a house inspection, a property expert will review your home and identify any underlying issues. You then can use a house inspection report to prioritize home repairs and upgrade your residence before you add it to the local real estate market.

3. Work with a Real Estate Agent

As you search for ways to get the best price for your home, you may want to hire a real estate agent. In fact, if you have a real estate agent at your side, you can receive comprehensive support throughout the house selling journey.

A real estate agent will learn about your home and help you determine exactly how to price it. Next, he or she will promote your residence to buyers. And if a buyer submits an offer to purchase your residence, a real estate agent will help you decide whether to accept, reject or counter this proposal.

Furthermore, a real estate agent is a home selling expert who is happy to share his or her housing market insights with you. If you ever have concerns or questions as you navigate the house selling journey, a real estate agent can address them.

Setting the right price for your home sometimes can be difficult. Thanks to the aforementioned tips, you can establish a fair initial asking price for your residence. As a result, you may be able speed up the home selling journey and optimize your house sale earnings.





Posted by Jill Finkelstein on 3/8/2020

Photo by Roman Samborskyi via Shutterstock

Buying your first home is exciting! And scary! But you don’t have to fear the process if you take the time to become fully prepared for homeownership. Below are the seven primary keys to preparing yourself and smoothing the process.

How to Know You’re Ready

  • Determine how much you can afford. The first step to homeownership is figuring out what fits your current budget. Note that although your income may go up over time, buying a home, speculating that you’ll make more money and can afford a bigger payment is a recipe for disaster. In general, you don’t want your housing costs (mortgage payment, insurance, property taxes, HOA) to be more than 25% of your take-home pay.
  • Research which mortgages can save you the most money. A conventional loan, with at least 20% for a down payment, lets you avoid private mortgage insurance (PMI). That’s an extra reduction in monthly outgo, so strive to hit that mark. If you can’t afford twenty percent, put at least ten percent down. Less than that means your monthly outflow is higher in both the mortgage payment and the PMI. You’ll also pay more interest over time. You’ll save the most by putting more down and reducing the life of the loan to 15 years or fewer even though your monthly payment is higher. Remember that closing costs and moving take a chunk out of your saved-up cash, too.
  • Get pre-approved. Any lender can “pre-qualify” you for a loan, but those aren’t guaranteed. They’re just an estimate based on your self-reported income and assets. Pre-approval takes more effort, but the numbers accurately reflect the size of the mortgage you qualify for and what you can pay for a house. Find a great real estate agent. Once you’ve set your maximum budget and have a pre-qualification letter, your real estate agent can work with those numbers to find you the perfect home. Make sure you choose a qualified buyer’s agent that represents you, not the seller. You also want someone experienced in helping first-time buyers. Typically, the seller covers all the agent’s commissions, so you’re getting their expertise for free!
  • Discover the right neighborhood for you. Buying the right house in the wrong neighborhood leads to buyer’s remorse and dissatisfaction. You need to decide what you want in the neighborhood, not just the house. Do you need playgrounds? A school your child can walk to? Other families nearby? Culs-de-sac instead of through-streets? All of these are important to consider before making a decision.
  • Lock down the house. When you know where you want to live and find a house there, don’t fudge when making an offer. With the guidance of your agent, submit a solid offer that the seller respects and will consider, but leave room to negotiate. When you receive a counteroffer, consider it carefully and request concessions such as asking the seller to leave the appliances or furnishings. Your offer is legally binding, so you want to take care with what you include.
  • Know what to expect once you get the keys. In addition to your monthly payments of principal and interest, property taxes, insurance, and HOA dues, owning a home brings other costs. These include ongoing maintenance, repairs, lawn care and landscaping. If your new home is considerably larger than where you currently live, you’ll also have increased utility costs to factor into the mix.

If you’ve worked your way through the first items on the list and you’re ready to find the right real estate agent, reach out today.




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Jill Finkelstein