Classified Realty Group



Posted by Classified Realty Group on 4/16/2019

All communities have increases and decreases in population, demographics, and times when several (or very few) homes are on the market. Sometimes, it's merely that the stars aligned for several homeowners at the same time. Once in a while, because the market is particularly hot, many of the owners hope to cash in on the rising prices. In a few cases, however, it is a BIG. RED. FLAG.

Proceed with caution.

Getting in early to a neighborhood that is on the cusp of gentrifying—of becoming that trendy place where everybody wants to live—can be a savvy move for personal homebuyers and investment purchases. But just because the neighborhood next door made the transition doesn’t always mean this one is next up.

If you can purchase several homes in the neighborhood, you can try to force the upward change, but if you’re buying your first family home, take heed of a few signs that a community has headed down instead of up.

Lots of homes for sale.

As noted above, sometimes it’s just a fluke that several homes go on the market at once. Other times, it is because some community event triggered it. This event could be a school district redistricting so that students no longer qualify to go to the school they planned for, an increase in a local tax, because the water/sewer lines need upgrading but the city isn't budging, or an increase in homeowner association dues.

Association woes.

Speaking of homeowner associations, sometimes it's not the dues, it's just the restrictive rules. If all the houses look identical; if the color palette seems to be within one or two hues; if the turf is all the same grass, the neighborhood might have a super-controlling association. While many folks are fine with tightly-defined rules, you'll want to know going in so that your dreams of a minty-green paint over all that red brick aren't dashed on the rocks of the rulebook and covenants.

School shuffling.

If the school district is moving the lines, it's important to know before you invest. The changes might be in your favor, in which case: get right in there and make your move. But if you had old information on where your kids would qualify to go, you need to know.

Different demographics.

In older neighborhoods, an aging population may be in transition out. If so, that might signal the perfect time for younger families to move in, upgrade, update, and upscale the homes into this decade. One way for you to know for sure is to speak to people that know. Talk to the neighbors when you go to that open house. Drive along the streets at the end of the workday to see who is coming and going. Stop by in the morning for a look at how many kids are heading to the school bus stop.

Your local real estate specialist pays attention to trends and can tell you how many homes have sold within the last few years, so use their expertise before making the leap.





Posted by Classified Realty Group on 3/26/2019

Finding your new home is an exciting new prospect, and you want to ensure you get the home you really want. Before you start your home-search take some time to thoroughly consider what you want and need out of a home, what you want it to look like and what features you desire in your neighborhood and the surrounding area. To get you started, here are some pointers for creating your ideal home checklist.

Home Features

  • Basic Requirements. What do you need in a house? Take inventory of your household needs and belongings to determine your basic desires, outside of the obvious roof over your head, running water and electricity. If you have multiple children, do you want them to have their own rooms? Do they need a bathroom they can share? Does your elderly parent live with you and need a ground floor room with easy access to the kitchen and living spaces? Maybe you’re a single professional or young couple focused on starting a new business, so space for a home office or workshop is at the top of the list. Number of rooms, bathrooms, size of the yard, features and layout of the kitchen, storage space and number, size or openness of living areas are all things to consider when developing your needs list.
  • Desires. What do you want in a house? Separating needs and wants can be difficult when dreaming of your new home. Start with the big and more obvious ones, like a pool or built-in barbecue, crown molding or a chef’s kitchen. You can add many features that you want after the fact. You can install a pool, replace the sliding door with French doors and even add your own crown molding. Setting aside some wants initially can open up your budget to purchasing a home that you can then invest more funds in and install most of the features you want. If you’re not interested in putting additional work into the house once you move in it is helpful to see what features bring up the cost of your new home so you can start thinking about what you can live without when it comes down to crunching numbers and staying within your means.
  • Take it or leave it. You have your list now consider what items you entirely can’t live without (from the want or need category) and what you can be more flexible on. Unless you’re building a home from scratch with the perfect budget to boot, you will have to be flexible when searching for your home. Not every house will have every single feature on your list. Is it the master bath with his and her sinks that you need? Is it a big yard with a tree perfect for your kid’s treehouse, or is it a multi-story home with den and living room that are your most sought-after features? Finally, determine which features to keep on the list to help with future resale value, even if they aren’t on your initial needs or wants lists.
  • Resale Potential. The things you aren’t thinking of. Where does potential resale value fit into your overall home buying plan? You might love a home with vintage French windows, but a house with dual-pane windows might add more value to the home when you try to sell it later. Maybe you don’t care about hardwood floors, or you aren’t thinking about ample built-in storage space, but your future buyers are, and you have the opportunity to invest now in added value later. When you review your ideal home checklist with your real estate agent ask for advice on how your needs and preferences align with a future resale. 

Before you start your home search or dive too deep into online listings work with your real estate agent to hammer out your ideal home checklist. Once you know what you desire in a home start working with your agent to find the best area for you to live in, read on to part two of this article to create your ideal neighborhood checklist.





Posted by Classified Realty Group on 3/12/2019

For most homeowners, a home is not just a property with four walls and a roof over their head. Over time, it becomes a place that reminds them of sweet memories spent with family and friends. Buying a home is expensive, and as a result, it is essential that you relegate any form of emotions and apply business-minded strategies in making good decisions. With this in mind, here are some costly emotional mistakes home buyers make and how you can avoid making them.

Falling in love too quickly

Buying a home can play with your emotions. But you must balance your dreams with the realities of your budget. Turn a deaf ear when the agent tells you "Oh, this house was made for you," or "It suits you perfectly," Focus on what you want in terms of space, location, maintenance, and the price. If you are buying a house, buy the one you need rather than what you want.

Allowing others to "steer" the process 

Agents and family members can be assertive in attempting to "tell" you what home to buy. What's more, friends who won't even live in the house will aggressively offer opinions about the subject. In an attempt to please others, some homeowners get highly emotional and buy a house they never liked. It is your house, and you will be the one living in it. Friends and loved ones only visit. So put yourself in charge of the buying process. 

Overpaying for a property 

Another common emotional mistake homebuyers make is paying too much for a property. Buyers—especially new ones—always tend to become desperate to buy a house or buy a house in a popular area, and most time, they end up paying far too much for the property. To avoid overpaying for a home, keep your emotional side locked and check the prices of similar houses in the area to avoid being ripped off. 

Putting the pen on paper too soon 

Generally, before you purchase a house, you need to sign a contract and pay a deposit. However, don't get too excited and sign the contract immediately you make the decision. Take your time to read through every line of the agreement. Also, get a seasoned lawyer or property professional to guide you, to ensure your interest comes first and insert any needed clauses. It is tough to make changes once you sign a contract.

Although buying a house can be an emotional experience, it is also an exciting time. Avoiding emotional mistakes, doing your research and keeping a calm head should help you to get a good home that meets all your needs.




Categories: Real estate   homebuyers   buying tips  


Posted by Classified Realty Group on 12/17/2018

Looking for the perfect place to call home? Is your vision of home that iconic white-picket fence ranch in the suburbs? Or, do you love the walkability of an urban neighborhood? Do you dream of a large backyard with room to host the neighborhood barbecue? How about being near to great schools? Extensive libraries or museums? Sports facilities? A neighborhood park? A nearby school?

Every year, various rankings for cities make it into the new: Best Cities to Live in America; Where to Life; Best Places to Live; Best Small Towns; Best Cities for Millennials; Top Ten Cities for [insert demographic here]. 

Investigate before you head across town … or across the country. 
The perfect location for someone else may not be the perfect home for you. Before chasing someone else’s dream, consider these factors that might better inform your home search:

Think about what’s important for you.
Do you value more space, better schools, a larger home? Or, does being near family and long-time friends give you a sense of “home,” of belonging? Do you want to be nearer work, so the commute is shorter, giving more time for “life”? These are not new questions. Families have moved from cities to the suburbs and back again for decades.

Consider what you might be giving up.
Moving to the city might mean access to cultural events, restaurants, a short commute, while the suburbs might offer that large home with a yard, or the perfect school. In either event, a move might take you away from friends, or give you the opportunity to make new ones.

Is it Family Friendly?

The criteria researchers use to determining a location's "family friendliness" include:

- Job market
- Commuter times and delays
- Crime rates
- School rankings
- Median household income
- Cost of living index
- Home affordability
- The percentage of homeownership

Different cities rank differently in each category in different years, so don’t just rely on the most recent reports to determine where you might want to live. Check back over the past few years and look for trends … Are the schools improving? Is there more dedicated greenspace? Has public transportation improved? Are the demographics change?

If you have school-age children, don’t just look at the elementary schools. In no time at all, your starry-eyed first-grader will be approaching graduation. It’s not all about academics either. Children need exposure to other opportunities and extra-curricular activities as well.

On the other hand, if you’re thinking of starting a family, you also need to check out hospital maternity suites (or birthing alternatives), daycare facilities, toddler playgrounds and opportunities for young parents to gather.

Of course, none of the lists, rankings, and surveys matter if the commute from your job is so long that you’ll miss out on all your kids’ ballgames and activities.

The perfect place for you to call home and to raise a family might be a new place where you’re sharing a new adventure together … but it might just be the neighborhood you know best and have already called “home.”

No matter what you determine, utilizing an expert real estate professional can match you up with the perfect place you, and your family will make into the home you’re looking for.