Tag Archives: Selling a Home

Land Title Guarantee Company January 2016 Market Analysis

Land Title Guarantee Company January 2016 Market Analysis

January 2016 Market Analysis

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

January 2016 Highlights:

  • Market Analysis by Area for January 2016: The start of 2016 kicked off with 124 transactions and $63,231,650 monetary volume. As many of us know, January is a slower month for real estate movement in the mountains. Average transaction price for all 18 reported areas: $514,210: Average residential price:$533,982: Average residential PPSF $355. New this year, you will see a line item for Deed Restricted Units on this report.
  • Market Snapshot for Years 2016 vs 2015: Prices look good compared to full year 2015 and are as follows: Average Indicators for $: Single Family +3%, Multi- Family +2% and Vacant Land -16%. Median Indicators for $: Single Family -3%, Multi- Family +9% and Vacant Land +6%.
  • Market Analysis % Change YTD 2016 Data ( 1 month): Monetary volume ($63,231,650) in January was down -5% compared to January 2015. Number of transactions (124) were down -2% in January compared to January 2015. Currently, inventory is extremely low in Summit County.
  • Residential Market Sales by Price Point: Residential volume in January had 104 transactions with $55,534,150 gross volume. There were 9 properties that sold for $1M and above in January.  The most active price points were between the $200K-$400K range this month. There were 28 Single family, 76 Multi-family and 7 Vacant land transactions in January.  
  • Full Year 2015 Average Price History: Average residential pricing is consistent starting off 2016- Single Family: $877,732, Multi- Family:$407,338 and Vacant Land was $311,943.
  • Comparative Historical Cost Analysis: There were again 104 residential transactions  and $55,534,150 volume with 9 properties selling for a $1M and over-compared to 2015, there were 98 transactions and $56,210,600 gross volume, 12 properties at $1M and over and in 2014, there were 83 transactions with $38,988,500 gross volume, 7 properties at $1M and over.
  • Top Lender Graph: There were 368 loans in January, 63% of the loans were related to sales, there were 123 REFI’s and 167 loans were timeshare related. 37% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sale in January (Gold Flake Terrace). There was one bank sale in January.
  • Foreclosures: There were 4 Foreclosure actions in January 2016 compared to 8 in January 2015.
  • Purchaser Profile Abstract (Page 14): There were 10 higher end sales in January – you can see the details on this report. Our buyers for real estate transactions were the Front Range demographic at 40% of our market, 31% are local ( side note: which in part are  “retires” coming to Summit County) and 29% are out of state buyers, with 0% International. 
  • Land Title New Development Summary: This (page 15) shows all the new construction each month with 10 in January,

So You Wanna Buy a House? Step 8: Ace the Inspection

Inspections can be a big hurdle in buying or selling a home. Jamie Wiebe from Realtor.com explains how to “Ace the Inspection.” Here in Summit County I can recommend great inspectors and handymen for anything that may arise from the inspection. You can contact me here.


So You Wanna Buy a House? Step 8: Ace the Inspection

By
Jamie Wiebe

Pamela Moore/iStock

A home inspection can be a terrifying process to newbie buyers: What if the house you adore has major problems hiding beneath that shiny new coat of paint? If you lie awake haunted by visions of mold or “foundation issues,” it’s time to take a deep breath. This installment of our weekly 2016 Home-Buying Guide illuminates everything you need to know about home inspections, and how (as scary as they might seem) they exist to protect you from a very bad deal.

Here are some insights into how to make the most of this all-important step. OK, exhale.

Hire a top-notch inspector

While it may be tempting to hire any run-of-the-mill home inspector to get the job done—particularly if the price is right—the inspection is no time to cut corners. After all, buying a home is an enormous investment. “Everyone does themselves a disservice when they shop by price alone,” says Alan Singer of Sterling Home Inspections in Armonk, NY. “Plenty of inspectors don’t know what they’re doing and set up shop because it’s easy to do.”

So, first, check your local requirements: Many states require an inspector to have a license or insurance, and not having either is a big, waving red flag. Even if insurance is not mandated, you’re better off choosing an inspector who is insured, which protects both of you against errors and omissions. Membership in a professional trade organization, such as the National Association of Home Inspectors, indicate the inspector is up-to-date on the latest developments in the field—another giant plus.

Attend the inspection

Even though you will receive a written report after the inspection, you should attend the inspection while it’s being done. It provides a valuable opportunity to learn all about the inner workings of your would-be new home. “I much prefer it when buyers are there so we can discuss the home in person,” Singer says. “It’s much easier to explain the ramifications of an issue when we’re standing in front of it.” Plus, it sure beats deciphering a 10-page report about HVAC or plumbing problems.

So, don’t be afraid to ask questions. Really stick your nose into the inspection. You and your inspector will be looking at all sorts of things you might have skipped during your showings, like the attic and crawl space, and under the sinks. Don’t be scared to delve into the details. Even the best home will receive a laundry list of to-do’s and potential problems, and fixing them will be much easier with a hands-on understanding of the issues involved. Consider it free (and invaluable) fix-it advice.

Don’t panic (until it’s time to panic)

The vast majority of issues raised during an inspection are reparable—after all, as Singer describes it, you’re buying a “used home.” Just like a used car or an old computer or second-hand clothing, there are bound to be problems. Some of them may be small and easily fixed, like leaky pipes and rattling doorknobs. But if an inspector discovers a majorproblem—with, say, the foundation or water intrusion—even that may not be a deal killer. In fact, it could be a bargaining chip you can discuss with the sellers before closing the deal.

Work with your real estate attorney and agent to determine the best approach. If your offer was contingent on a successful inspection (and most are), you have a good basis to request that the current owners make repairs before closing. You’ll want to get this in writing, along with provisions if the sellers fail to fix the problems.

But there’s no obligation for sellers to address the inspector’s discoveries. If they aren’t willing to shoulder the burden, you need to assess whether the cost of a new roof—or mold abatement, or fixing the foundation, or whatever the problem is—is worth the reward. With no solution beyond paying $30,000 from your own pocket, you might need to move on to a more habitable home. “People get very invested in the home they want to buy, and it all becomes a very overwhelmingly emotional experience,” Singer says. “But they need to listen to the advice of the inspector, take a look at the financial ramifications, and make a clear-headed decision.”

Hopefully, all will go well and your inspector will say it’s fine to move in. At that point, most homeowners move on to an even more intimidating step: Locking in the terms of their home loan. Stayed tuned for that installment of our Home-Buying Guide next week.

Listing Photos: Your Home’s First Showing

A major part of my aggressive marketing plan for listings is high definition photos. Not only is your home’s online presence the first thing potential buyers see, but it is also what helps the decide whether or not they want to come view the home in person.  from Zillow.com blog explains why your listing photos are so important.


 

 

Listing Photos: Your Home’s First Showing

 

 

When Should You Sell Your Home?

When should you sell your home? 

The basic answer is whenever you are ready. However, there are many factors that should also be considered:

  • Are there a lot of available properties?
  • How do the other properties stack up against your home?
  • Is your home in pristine condition and market ready?

In Summit County, many properties are taken off the market for the winter to be used as vacation rentals. Therefore, there is much less competition and a greater number of buyers vying for the available properties. In the last couple years, there has been a shortage of properties for sale throughout the year leading to higher prices and making it more of a seller’s market. If you have been considering selling your home, don’t wait!

Anne Skinner
970.389.6987
Anne@comtnrealty.com

Contact me for a free Comparable Market Analysis to learn more about the value of your home.

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The 5 Real Estate Trends That Will Shape 2016

Yes, you read that right. 2016 is right around the corner and Realtor.com is highlighting 5 of the trends that will shape next year. One of Jonathan Smoke ‘s points is that “Generational shuffle will make 2016 the best year to sell in the near future.” So get ready to sell or to buy in 2016 it should be a good year. 


The 5 Real Estate Trends That Will Shape 2016

House: RiverNorthPhotography/iStock; numbers: mishabokovan/iStock

By
Jonathan Smoke

It’s almost the new year. Get ready to break out the Cristal: We had a great 2015—the best year for housing since 2007. And our forecast here at realtor.com® projects an even better year in 2016.

How so? Well, with economic growth chugging along, employment will continue to increase, meaning that people will have more money coming in and they’ll be able to buy their first home or upgrade to a new one.

Here’s a closer look at the trends that will have the greatest impact on the housing market in 2016.

1. We’ll return to normal (Anyone remember normal?)

The year ahead will see healthy growth in home sales and prices, but at a slower pace than in 2015. This slowdown is not an indication of a problem—it’s just a return to normalcy. We’ve lived through 15 years of truly abnormal trends, and after working off the devastating effects of the housing bust, we’re finally seeing signs of more normal conditions. Distress sales will no longer be playing an outsized role, new construction is returning to more traditional levels, and prices rise at more normal rates consistent with a more balanced market.

2. Generational shuffle will make 2016 the best year to sell in the near future

Millennials emerged as a dominant force in 2015, representing almost 2 million sales, which is more than one-third of the total. This pattern will continue in 2016 as their large numbers combined with improving personal financial conditions will enable enough buyers between ages 25 and 34 to move the market—again. The majority of those buyers will be first-timers, but that will require other generations to also play larger roles.

Two other generations will also affect the market in 2016: financially recovering Gen Xers and older boomers thinking about or entering retirement. Since most of these people are already homeowners, they’ll play a double role, boosting the market as both sellers and buyers. Gen Xers are in their prime earning years and thus able to relocate to better neighborhoods for their families. Older boomers are approaching (or already in) retirement and seeking to downsize and lock in a lower cost of living. Together, these two generations will provide much of the suburban inventory that millennials desire to start their own families.

Assuming that most of these households will both sell and buy, it is important to recognize that 2016 is shaping up to be the best year in recent memory to sell. Supply remains very tight, so inventory is moving faster. Given the forecast that price appreciation will slow in 2016 to a more normal rate of growth, delaying will not produce substantially higher values, and will also see higher mortgage rates on any new purchase.

3. Builders will focus on more affordable price points

One aspect of housing that has not recovered yet has been single-family construction. Facing higher land costs, limited labor, and worries about depth of demand in the entry-level market, builders have shifted to producing more higher-priced housing units for a reliable pool of customers. That focus caused new-home prices to rise much faster than existing-home prices. Builders were able to be profitable and grow by following this move-up and luxury strategy, but their growth potential was limited by avoiding the entry level. That should begin to change in 2016.

We are already seeing a decline in new-home prices for new contracts signed this fall. In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders. We’re looking for the strong growth in new-home sales and single-family construction as builders offer more affordable product in the year ahead. Consumers of all types should consider new homes, but availability will be highly dependent on location.

4. Higher mortgage rates will affect high-cost markets the most

We told you mortgage rates would go up in 2015, and they did—but they also went back down. We expect similar volatility in 2016, but the move by the Federal Reserve to guide interest rates higher should result in a more reliable upward trend in mortgage rates.

Thirty-year fixed rates will likely end 2016 about 60 basis points higher than they are today. That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase. However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher. Markets with the highest prices will see that higher rates will result in fewer sales; however, across the U.S., the effect will be minimal as the move to higher rates will spur more existing homeowners to sell and buy before rates go even higher.

5. Already unaffordable rents will go up more than home prices

The housing crisis that politicians are ignoring is that the cost of rental housing has become crushing in most of the country. More than 85% of U.S. markets have rents that exceed 30% of the income of renting households. Furthermore, rents are accelerating at a more rapid pace than home prices, which are moderating. We’ve been seeing asking rents on vacant units increase at a double-digit pace in the second half of this year.

Because of this, it is more affordable to buy in more than three-quarters of the U.S. However, for the majority of renting households, buying is not a near-term option due to poor household credit scores, limited savings, and lack of documentable stable income of the kind necessary to qualify for a mortgage today.

This trend does not bode well for the health of the housing market in the future. It will only improve if we see more construction of affordable rental housing as well as more of a pathway for renters to become homeowners.

6 Ways to Supersize Your Small Kitchen for the Holidays

There comes a time in your life when eventually you have to host your family or friends for the holidays. Realtor.com explains some useful ways to make your small kitchen seem a lot larger. 


 

6 Ways to Supersize Your Small Kitchen for the Holidays

By: Deborah Kearns

With Thanksgiving around the corner, odds are you’ll soon be spending plenty of time in your kitchen. (Maybe even way more then you want!) Adding to the holiday stress levels: if your culinary workspace is tight, turning out meals for a crowd may be a real challenge, especially with more helpers (aka family members) around. Don’t panic! You still have time for some kitchen-organizing hacks that can bring some order to the chaos. Plus, you can get inspiration for how to maximize your small space for next year.

1. Plan where everything will go

Before you head to Williams-Sonoma and start swooning over gravy boats shaped like roasted turkeys, take stock of what you already own and plan out how you’ll organize everything, says Susie Kurkowski, owner of Items of Interest, a home decor boutique in Brooklyn, NY.

You may have to do a holiday-specific reorg—as usual, the items you’ll use most (such as dishes, cups, and mixing bowls) should be within arm’s reach, but you’ll also need to get out your heirloom casserole dishes and other items for serving. After the big meal, those special-occasion dishes can go back into storage where they’ll be safe but won’t get in the way of your daily routine.

You’ll also want to limit the number of small appliances (just stick them in a closet, if there’s nowhere else) on your countertops, to free up prep space. And again, when the festivities are over, you may want to rethink what you put back out. The Keurig you use daily? Yes, that can remain. The dusty waffle maker you got as a wedding present and haven’t used since 2009? Say adios!

2. Pimp out your cabinets with custom inserts

Whether you inherited an antique kitchen with equally outdated shelving or you’re starting from scratch, it’s smart to buy custom inserts to organize each nook and cranny, Kurkowski says. You’ll be able to put away more things—without putting them out of reach. She recommends Rev-A-Shelf’s products, which include pullout inserts, Lazy Susan spinners, tray dividers, and door storage.

“Sometimes store-bought cabinets come with weak shelving and inserts that don’t last, so it’s best to buy those items separately,” Kurkowski recommends. “Position like items such as dishes, bowls, and cups close together to make them easy to access, and use the inserts to store all of your small appliances, spices, and other necessities to keep them out of sight and off your counters.”

3. Invest in new appliances

Switching out appliances is one of the easiest ways to bring style, increased efficiency, and a higher resale value to your petite kitchen, Kurkowski says. Although stainless steel has been the preferred choice for the past decade, white appliances are coming into vogue. Certain sizes are considered the standard, but you can opt for smaller appliances to gain more storage inches in your cabinets. Just pay attention to the height, width, and depth. Most modern appliances are deeper than what you probably have now, and you don’t want new appliances to stick out past your countertops.

4. Go easy on color

If you want to add a touch of style, just know that small kitchens are not the place to let loose with dramatic hues. Choose a more subtle color, says Allison Petty, an interior designer with Homepolish. Just like with other small spaces, keep darker colors at the bottom of your kitchen and use lighter shades higher up. More and more homeowners are opting to paint lower cabinets a darker shade, like gray, and the uppers with a creamy white for contrast, Kurkowski says. The effect is dramatic: It brings the eye up and makes your kitchen appear more spacious.

That said, be careful with the backsplash, which is already in shadow. A white subway or hexagon tile goes flawlessly with most kitchen designs instead of dark granite or mosaic tile, Kurkowski says. Adding a backsplash is an inexpensive and dramatic way to add some visual pop, as long as you keep colors neutral.

5. Open up your space with light

Your kitchen is no place to skimp on lighting. Use bright lights over workspaces, Kurkowski says. If you’re blessed enough to have an island, invest in a showstopper light fixture. Hudson Valley Lighting has plenty of beautiful options. Recessed lighting for the rest of the kitchen works fine, but Kurkowski thinks track lighting is even better.

“If you put a track in a suspended rectangle junction box in your kitchen, you can have up to 12 lights on one track and point them at different areas in the kitchen,” Kurkowski notes. “It is less expensive than installing several fixtures that each require their own junction box.”

6. Give old cabinets and countertops new life

Don’t have the funds for a complete gut and reno? No worries: You can transform your outdated cabinets with paint, Petty says. A popular option with avid DIYers is Annie Sloan Chalk Paint. Another low-cost, eye-popping transformation is to change out or add new knobs and pulls, which can update the look of your kitchen without breaking the bank.

There’s no beating around the bush: Countertops are expensive to replace—even in small spaces. You’ll spend at least $4,000 for engineered quartz (a hot option right now). If you don’t have the money for a complete upgrade, consider painting laminate surfaces with Giani Countertop Paint (available at your local home improvement store for under $100).


 

When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends, from Realtor.com

So today is Black Friday, but when is the “Black Friday” of the Real Estate market? sRealtor.com explore when the “Black Friday” of real estate is, and surprisingly it seems to be in the winter. Yuqing Pan writes, “So what is the true Black Friday of the housing business? Here’s a holiday shocker: Dec. 28 was actually one of the busiest days for real estate searches in the entire year, despite the fact that Dec. 24 was the single slowest.”


When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends

Rusanovska/iStock; prosado/iStock from Realtor.com

By: Yuqing Pan 

Thanksgiving evokes certain unshakable images: Long tables crammed with too much food. Beloved and bickering family members consuming way too much of that food. Overstuffed family members staggering away from the table to watch football. And once the crumbs and turkey bones and cranberries are cleared away, just about everyone gearing up for the biggest shopping day of the year: Black Friday.

While prowling the malls for fantastic deals has become enshrined as a traditional part of many Americans’ holiday season, it has long been considered conventional wisdom that this sales fervor doesn’t extend to shopping for a home—that there’s no deluge of would-be buyers surfing the Web for listings or slogging through the (presumed) snow to open houses.

But does the housing market really come to a screeching halt during the holidays? The realtor.com® team decided to put down its Best Buy circulars and Victoria’s Secret gift cards long enough to find out for sure. In order to measure people’s interest in shopping for a home, we used traffic data on realtor.com from throughout 2014. Not-quite-spoiler: Traffic is much lower on an actual holiday. But what about directly afterwards? And in different parts of the country?

We compared the traffic data for realtor.com on Thanksgiving Day 2014 with that of an average day in 2014’s fourth quarter, and then we identified states where house-hunting activity appeared to be most and least impacted by the holiday.

Source Realtor.com

In balmy Hawaii, the amount of people house hunting on turkey day is only 10% less than the average for that quarter. However, in New Hampshire, the number is down by almost 60%.

And overall, the Thanksgiving slowdown only lasts as long as it takes to digest that huge mass of poultry—and hit a few Black Friday sales. By Saturday, it’s pretty much business as usual.

But according to our database, the number of scheduled open houses on the upcoming Thanksgiving weekend is going to be only 6% of the number from this past weekend. So for buyers serious enough to attend a Thanksgiving open house, your effort will likely pay off—you will be dealing with equally determined sellers and facing less competition.

Moving beyond Thanksgiving, we looked at the impact of all major holidays. Take a look at the graphic: Dark red indicates higher traffic, while light yellow indicates lower traffic.

So what is the true Black Friday of the housing business? Here’s a holiday shocker: Dec. 28 was actually one of the busiest days for real estate searches in the entire year, despite the fact that Dec. 24 was the single slowest.

The reason: When we’re over the holiday hump but still on break, it’s a great time to look for our dream home. The same reason explains the surge of activity on New Year’s Day. And, perhaps buying a house is a popular New Year’s resolution?

Another surprising, best-performing day on a holiday weekend: the other side of the year, July 6. Instead of traveling, many buyers apparently use the long weekend in the height of the buying season to search for homes and go to open houses.

Overall, the spring market typically has the best combination of inventory and value—more homes go onto the market, but prices have not yet thawed. If you miss out on that sweet spot, the second-best opportunity is in fall. Sept. 1, on Labor Day weekend, was another top performer—it’s all part of a seasonal pattern that buyers and sellers can use to their advantage if they are not constrained by school schedules or job transfers.

Besides family-oriented holidays, there’s one more holiday that significantly slows down home-searching activity. Nope, not Mother’s Day, not Father’s Day, but … Valentine’s Day. Think about it: Your significant other wants to take you out for a romantic dinner. Are you gonna say no because you want to stay at home to browse photos of fixer-uppers?

Yuqing Pan


Any time of year is a great time to find your High Country get-away!

5 Tips for First-Time Home Sellers

The Zillow.com blog outlines 5 tips fo First-Time Home Sellers. Brendon DeSimone shares of the key things to consider as you decide to sell your home.


 

5 Tips for First-Time Home Sellers

Zillow.com

Selling a home is nothing like buying one. Whether you’ve been in the home for four years or 40, first-time sellers need to consider some important points before getting started.

You need the right agent

Unless you’re offering the home For Sale by Owner, you will need to sign an agreement with a real estate agent and their brokerage. You’ll also have to pay a commission. Because the agreement contractually ties you to your agent for three to six months, choosing the right one is more important this time around. Unlike when you were a buyer, you can’t simply come in and out of the market.

You’ve got to be ready to sell

In the Internet age, you only get one chance to make a first impression. Information flows more quickly than ever. If you list your home at an unrealistic price or not in the best condition, the number of days on market (or DOM) will add up — and could come back to bite you later.

Sellers who resist their agents’ pricing suggestions may not be emotionally ready to separate from their home. By overpricing it, they will self-sabotage the sale. It’s better not to list your home than to “try” at a high price or in bad condition.

DOM factors into buyers’ offers

A typical buyer looking at a listing will first notice the price and size. They will then scroll through the photos and look at the listing history. If a home has been on the market more than three months, they may think there is something wrong with it.

Or, what’s worse, when you do get serious and adjust your price or condition to what it’s really worth, buyers will penalize you for it by offering even less.

You’ll never interface with the brokerage — only your agent

The agent you choose matters more than the brokerage, although you should consider both. If you list your home with Suzy at XYZ Brokerage, Suzy will be your only contact with the company.

Agents are independent contractors who choose to hang their license with a company whose brand and culture match their business. While a well-known or large brokerage is an important consideration for listing, if your agent is successful and someone you trust, they will do a good job no matter the brokerage.

If you get an offer, you have to move soon

Once you get an acceptable offer from a buyer and you sign the contract, the clock starts ticking toward your closing. Many sellers underestimate the amount of time it can take to list, sell and close on a home. Know your market before you list, and put a plan in place for where you’ll move when your home sells. If your market moves quickly and your agent expects the home to sell within a few weeks, it might be better to wait.

The best advice for first-time sellers is not to sell until you are ready. Have a plan, know where you are going, and work with a great local agent early on. You should do what it takes to present your home in its best light and price it right.

Selling a home can be very stressful and emotional. Add on top of that packing and moving, and it’s a lot to deal with for anyone. Be sure you’re prepared before you start the process.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Brendon DeSimone


 

7 Home Buying and Selling Tips From the Property Brothers

The Property Brothers is one of my favorite HGTV shows. My husband and I were able to collect a ton of inspiration for our first home from their episodes. Shannon Petrie with HGTV outlines The Property Brothers 7 Home Buying and Selling Tips that might help you with your home purchase. 


 

Photo: Caitlin Croneberg; HGTV’s The Property Brothers

By: Shannon Petrie

Jonathan says: “In order to pump these homes out as fast as the builders want to, some of them cut corners like not waiting long enough for concrete to cure properly or hiring untrained labor forces. I’m not saying new construction is bad; you just want to find a builder who has a quality product – it’s going to last a lot longer.”

Do your homework when buying a brand-new home.

Jonathan says: “In order to pump these homes out as fast as the builders want to, some of them cut corners like not waiting long enough for concrete to cure properly or hiring untrained labor forces. I’m not saying new construction is bad; you just want to find a builder who has a quality product – it’s going to last a lot longer.”

Know the hidden costs of buying a home.

Drew says: “Over and above the actual purchase price of the home, you may have to dish out some money for land transfer fees, mortgage costs, home insurance, legal costs and title insurance. Ask your real estate agent for a complete list of all the estimated closing costs so the only surprises you get will be the good ones.

Never skip the home inspection.

Jonathan says: “I can’t stress enough how important it is to get a home inspection, whether you’re getting a fixer-upper or or something brand new. The seller most likely will cover any costs of a problem that pops up. If you’re putting an offer in, make it subject to a home inspection, so that way nobody else is going to swoop in and take the property out from under you, and it gives you enough time to make sure the house is actually a good investment.”

Get to know the neighborhood before buying.

Drew says: “Nothing compares to actually walking the neighborhood prior to buying in the community. Pounding the pavement will give you a clear image as to how noisy it is, the density of traffic and what your neighbors are like. Getting to know the locals will give you that insider scoop as to whether or not this is the kind of neighborhood you want to raise your family in.”

Don’t fall for love at first sight.

Drew says: “I always recommend touring at least 10 houses before you put an offer in on one. The first few houses may seduce you aesthetically, but may not really have what you need. When you walk through a home, have a checklist in hand; write down the pros, write down the cons and rate that house from 1 to 10. At the end of a long house hunting day, all the houses are going to blend together, and it’s that checklist that’s going to be the saving grace and will get you your dream home.”

Put safety first when remodeling a home.

Jonathan says: “We make it look like a lot of fun on TV, but things can go seriously wrong if you just blast through a wall with wild ambition. Plan first: For safety, you want to have glasses, masks and gloves. Go down to the circuit breaker and make sure you shut off any electrical in the wall. Finally, just stop frequently and investigate inside the wall where you’ve opened it up to make sure there are no other surprises.”

Simple staging tactics go a long way toward making a quick sale.

Drew says: “Depersonalize: Pack up the family photos and artifacts. Declutter: Clean off the countertops and pack away the knickknacks. As a final touch, make your house sparkle: Wash the windows and clean away the old cobwebs. Simple steps make a huge difference and can lead to a sold sign on your house.”

For the full article and videos from the show that support their 7 tips check out HGTV’s 7 Home Buying and Selling Tips From the Property Brothres.