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        <title>MilitaryHomeSearch.com Blog</title>
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    <guid>https://www.militaryhomesearch.com/blog/what-home-renovations-add-the-most-value.html</guid>
    <link>https://www.militaryhomesearch.com/blog/what-home-renovations-add-the-most-value.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>What Home Renovations Add The Most Value?</title>
    <description> <![CDATA[ 







If you’re planning on selling your home in Colorado Springs, a few renovations will go a long way to making your home more attractive to potential buyers. But what renovations will add the most value to your home? These upgrades will give you the most bang for your buck and add instant value to your home.


Kitchen Updates


The kitchen is the heart of the home, so you want to make sure that the space is inviting and fully functional. You don’t have to do a complete remodel, but a few upgrades will make the space more attractive to home buyers. Updates could include replacing your old appliances with newer energy-efficient models, redoing the cabinets and countertops, and adding a modern backsplash. You might also want to consider adding new outlets.


Roof Replacement


When was the last time you assessed your roof? This is one of the most important elements of the home, so it needs to be in top shape to pass a home inspection and justify asking a higher price for your home. Have an expert look at your roof to identify any problems and make necessary repairs. Adding new shingles will add to the aesthetics and value of your home. Solar panels are also a key selling point for many new buyers.


Smart Home Technology


Smart devices are such a big part of our day-to-day lives that many home buyers now expect them in a home. There are numerous smart devices you can invest in for comfort, convenience and security including smart locks, security cameras, and device controlled thermostats and irrigation systems. These devices are a great investment because they’re easy to install and can instantly modernize your home.


New Windows


Replacing your windows will not only freshen up the look of your home, but it will also add value by saving potential buyers costs on utility bills. Energy-efficient windows are a huge draw for buyers because they significantly reduce cooling and heating costs. They can also help soundproof the home, which is great for homes in busier urban areas. Look for windows that have dual-pane or triple-pane glass and wood or vinyl frames.


Finished Basement


Basements are always a key selling point, and even more so if the basement is finished. A finished basement adds more usable square footage to the home. The extra space can be used for an additional bedroom, rec room, or even a separate rental unit. Buyers will also be happy that they won’t have to take on the task of finishing the basement themselves. It may seem like a big investment, but the returns on investment can be up to 75. 


Bathroom Upgrades


The bathroom may not be one of the main hubs of the home, but it is definitely a place where people want to feel comfortable and uplifted. Modernizing your bathroom can add significant value to your home. Bright spaces with sleek fixtures are on trend right now. Consider replacing outdated fixtures and tiles, adding a new tub or shower and widening the windows or adding a skylight if your budget allows for it. 


Are you thinking about selling your Colorado Springs home? We can help you every step of the way, from pricing your home right to home staging, arranging showings and more. Contact us here or call 719-338-7294 to speak to one of our military relocation real estate agents today



 ]]> </description>
    <pubDate>Wed, 14 Sep 2022 12:39:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/home-liens-military.html</guid>
    <link>https://www.militaryhomesearch.com/blog/home-liens-military.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>Liens: What Military Homeowners Need to Know Before Selling</title>
    <description> <![CDATA[ 


There are no two military moves that are exactly alike, and some work out smoother than others. Orders and instructions may be delayed, students in the household may be disrupted during the school year, and some moves may occur to another time zone or even continent.


Case in point, several things can go wrong even when following a military-focused moving checklist, and this isn't even taking into account concerns or additional effort involved in selling a currently owned home for military members and veterans. Liens can sometimes remain undiscovered until days before the sale is finalized. Keep reading to learn what property liens are, the various types of liens, and what military personnel need to know about them before selling.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Property Liens and Title Insurance


Liens are a means for creditors to collect any funds they are owed in relation to a property. When a lien is taken out, the property is considered collateral for a loan. The title cannot be cleared until the lien is paid off. Creditors will get their due sooner or later, and this may impact the way military homebuyers calculate a budget.


The process all begins with attaining title insurance, which is something all military homeowners should invest in. Title insurance is essentially designed to insure lenders and buyers against property title discrepancies or deficits, and lenders generally mandate this. Often, military servicepersons and veterans can purchase this coverage at reduced rates through their routine insurance provider or the office of veterans affairs.


It is required for sellers to provide buyers with evidence of a clear title that indicates that no lien is currently in place and that the property's title is good and clear on the settlement date. Property liens can be in place for many reasons (which we'll cover later), and in cases of death or divorce, titles can become what is known as &quot;clouded,&quot; meaning they aren't necessarily clear for sale.


Consider the worst-case scenario of finding out about a property lien just days before a sale, which happens more often than one may think. This is because settlement companies tend not to complete title research to this depth until very close to the closing date. The only way to obtain a clear title is to resolve the debt either via payment to those owed or by finding a resolution with the lien holder.


Types of Property Liens


The first lien on a property is typically a mortgage lien, which takes dominance over other loans. However, second loans also create another lien, which could pose problems when selling if all payments aren't current. Often, lenders pay these taxes for owners as a part of their mortgage agreement.


The second most common type of lien is unpaid property taxes, which can result in the lender or loan falling behind on payments. Property tax liens are vigorously enforced, and those in debt on these taxes can find themselves with a home in repossession.


Homeowners' association liens can be taken out should dues not be paid in a timely manner. This can allow the HOA to take over home ownership if the association enforces any super-lien state regulations in place. In states where no such laws exist, primary mortgage liens take precedence.


Judgment liens are a form of involuntary lien that can be placed on a home owned by an individual with a standing judgment against them. In some instances, judgment liens can force the sale of a home. Mechanic's liens can result from unpaid debts to contractors who performed work on the property.


Don't Get Caught Off Guard with a Property Lien


If there are any doubts as to whether the home has any lien, consider working with a military real estate agent to look deeper into the case before listing the property for sale.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.




Are you thinking of buying a home in Colorado Springs? Contact Military Home Search online or call 719-338-7294 to speak to one of our military relocation specialists today



 ]]> </description>
    <pubDate>Tue, 04 Jan 2022 08:18:00 -0700</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/military-home-selling-mistakes.html</guid>
    <link>https://www.militaryhomesearch.com/blog/military-home-selling-mistakes.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>Are You a Veteran Selling a Home? Avoid These 6 Common Mistakes</title>
    <description> <![CDATA[ 


While selling a home can be the start of a new chapter in life, fast-paced military owners' moving timelines can push people to make hasty decisions during the selling process. Whether moving into a retirement community, upgrading to a new home, or buying a home while on active duty, several challenges during a home transaction can postpone those plans.


Delays and postponements can easily lead to making rushed decisions and mistakes. Keep reading to learn about some of the most common pitfalls veterans and current military members experience during their home-selling processes.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Selling a Home Without Experienced Guidance


According to the National Association of REALTORS®, 11 percent of homes are sold by owners without the assistance of a real estate professional. While the sales are primarily successful, owners alone typically draw in less profit than their listed counterparts.


Service members should consider military relocation professionals who work to assist military personnel specifically with moving. These real estate professionals have resources and insider information for veterans and active servicepersons that help with pricing, selling, and relocation procedures. They can also explain the basics of VA financing for those looking to buy in their new location.


Over or Underestimating Home Value


While online resources or tax documents can give owners an idea of their home is worth, relying on such intuitive pricing is very risky. Many sellers realize months after the home has sat on the market and become stale that they ask too much for the property, while some owners know they've asked too little. Owners tend to have a greater concept of the home's worth versus what the current housing market dictates. This is where an agent comes into play that can offer realistic market speculations about value based on actual real estate market analysis.


Being at the Home During Showings


While many sellers feel like only they can truly show potential buyers the best features of their home, they can inadvertently make home shoppers a bit uncomfortable. Naturally, sellers are attached to the home and want to chat it up with buyers, but it's often best to leave private showings and open house days in the hands of an authorized agent. In reality, most of those looking would prefer to privately discuss the dwelling between themselves and their real estate representative.


Thinking That Being Under Contract Equates to Being Sold


Just because a home goes under contract, it does not equate to the house being correctly sold. Some more considerations and actions tend to take place before a sale is finalized. These include appraisals and home inspections, property surveys, titles to confirm, and buyers getting final approval from lenders to cover the cost. It's also important to keep in mind that buyers can back out at the last minute, so it's a good idea to continue showing the home until closing occurs.


Getting Too Involved in the Home Inspection Process


While the results of a professional home inspection might not reveal the effects the sellers are hoping for, it is important not to internalize these issues. Rather than feeling like buyers are trying to take advantage of the situation, sellers should work with buyers and their representing agents to find resolutions satisfactory to all parties.


Sometimes, making necessary repairs is acceptable, while some buyers might want to negotiate with sellers to protect their interests. Some veterans may qualify for repair discounts with military-friendly contractors.


Failing to Leave Room for Negotiations


While it's okay to have a firm bottom line for the financial compensation for the home, sellers, regardless of their military statuses, need to have a bit of wiggle room or be willing to make concessions or negotiations. Being open to making some conveyances concerning the realm of home closing costs, repairs or pricing can result in the loss of the sale.


Delays such as this could be problematic for active servicepersons who have a strict moving timeframe to report to their new assignment. Discuss with an agent about what areas of the transaction are negotiable along with those that are not.


Military Members and Veterans: Consider a Real Estate Expert


There are many reasons to work with a military real estate agent beyond avoiding these potential selling mistakes. Sellers are likely to see greater profits, find the process streamlined, and less stress overall is typically experienced. Working with real estate experts like the Military Home Search team who are experienced in working with military members can ensure smooth selling.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Tue, 02 Nov 2021 09:16:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/why-work-with-military-real-estate-agents.html</guid>
    <link>https://www.militaryhomesearch.com/blog/why-work-with-military-real-estate-agents.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>3 Reasons to Work With a Military Real Estate Agent</title>
    <description> <![CDATA[ 


Homebuying is exciting but can get complicated, especially for military service members who have unique needs and circumstances when purchasing a property. The buying process for military members is quite different than it is for the average homebuyer. Working with a knowledgeable military real estate agent can differentiate between a rocky experience and a seamless one. Are you an active-duty military member or a veteran seeking to buy real estate? Keep reading to find three reasons to work with a military real estate agent.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Military Real Estate Agents Understand Active Duty Timelines


Active duty service members are often in a time crunch for various reasons. They may have to PCS quickly and unexpectedly, or they learn there is a shortage of on-base housing at their new duty station and can only offer to add their name to a waiting list. Due to scheduling, sometimes military members must buy a house sight unseen. A knowledgeable agent will not only be efficient in the house-hunting process, but they can also stand in for them and make sure they get a suitable property at a fair market (or better) price. Skilled professional agents who routinely work with military members are equipped to work with the strict time constraints that often emerge and, if needed, have the right skills required to accelerate the buying timeline.


A good agent can also manage the sale for service members who already own homes but need to move quickly. Alternatively, they can also manage the property as a rental for a secondary source of income until the service member decides what they want to do with it. This is ideal for homeowners who would prefer not to be forced into an impulsive decision resulting in a financial disadvantage or loss.


Military Real Estate Agents Know the VA Loan Process


Experienced military real estate agents recognize all of the nuances that come with the process of receiving VA loans. The Veterans Administration loan process works a bit differently than it does for conventional loans. Those agents who don't have experience essentially go in blind to the process can negatively impact their clients. The VA has specific criteria that must be met before they approve a loan—and those agents who have worked extensively with VA lenders are familiarized with all of them. For instance, they understand the specific minimum property requirements, how the appraisal process works, and what type of documentation is needed. Even the most beautiful home might have issues triggering a VA loan denial.


Working with agents who don't thoroughly understand VA Loans can delay the home buying process, or worse, end up denying a loan during the closing. On the other hand, agents who routinely represent service members typically have a go-to list of VA lenders, which helps the process go much more smoothly. Agents with military knowledge can also assist in deciding between 15- or 30-year military mortgage amortization.


Military Real Estate Agents Help Find Housing Grants


Veterans often face circumstances non-military members don't have to think about when selecting a home. VA-savvy real estate agents know how to help disabled veterans find the right home that meets their needs. They are also skilled at identifying potential housing grants that will enable them to buy a house that contains the adaptations or renovations needed to allow them to live independently. This can be expensive, especially for veterans living on fixed incomes and limited budgets. Grants could help pay for things, such as the installation of ramps or the widening of doorways.


Military Real Estate Agents Match the Needs of Active Duty Buyers


The bottom line is, any real estate agent can technically represent an active duty military member or a veteran. Still, they may not have the experience or knowledge to navigate the process. An agent with military homebuying experience already knows what to expect, will eliminate (or at least reduce) any obstacles, and can ensure the buying or selling process goes as seamlessly as possible. 




For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
 ]]> </description>
    <pubDate>Tue, 05 Oct 2021 09:03:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/seller-disclosure-requirements.html</guid>
    <link>https://www.militaryhomesearch.com/blog/seller-disclosure-requirements.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>Seller Disclosures: What Are They &amp; How Do You Fill One Out?</title>
    <description> <![CDATA[ 


It's easy to see why selling a house can feel stressful. It's a process full of things that a homeowner may have never encountered before—and often things that are quite serious. One of these elements is the &quot;Seller Disclosure.&quot; A Seller Disclosure is an important document that the seller will fill out before closing. And the consequences of filling it out incorrectly could be significant.


Here's an introduction to understanding Seller Disclosures.


For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.


What Is a Seller Disclosure?


A Seller Disclosure is a questionnaire that the seller fills out regarding the status of the property. The seller will be asked questions such as whether the property has flooded or whether the property has lead-based paint. It's important to note that answering &quot;yes&quot; to any of these questions isn't necessarily a deal-breaker. Rather, it's just something that the buyer needs to know about to remain safe.


Some things that buyers might ask about the property include:




Is there a Homeowner's Association?


Has the property flooded in the past?




That being said, if the Seller Disclosure includes something important that the buyer wasn't aware of before (such as asbestos), they may pull out of the sale. That can make filling out a Seller Disclosure feel a little nerve-racking.


What Does the Seller Need to Disclose?


The seller needs to answer the questions to the best of their ability directly.


If the seller doesn't know whether, for example, there's lead-based paint, they can say that they don't know. But they also shouldn't say &quot;no&quot; unless they are sure of it. If they didn't get the property tested, they shouldn't say an emphatic &quot;no.&quot;


In fact, unless they've tested and verified things themselves or they have documentation from a previous owner, they should usually say that they don't know. This puts it into the buyer's court; the buyer needs to verify everything on their own.


This isn't to be difficult. It's simply that, absent any testing, they really don't know. Their property may not appear to have any flooding damage, but they may be unaware that it flooded and was repaired right before they themselves purchased it. If they haven't lived in their house since it was built, they can't really know everything that's happened to it.


What Can the Seller Not Disclose?


While it can be nice, the seller doesn't need to disclose anything that the form does not ask about. For instance, they might be aware that they repaired a specific wall. But if the damage wasn't structural and there's no reason for the buyer to know about it, there's no reason to outline every little thing.


For the most part, if they specify something they don't need to, they will encounter it as a problem. Something as simple as saying, &quot;the hardwood floors were refinished because they had been damaged,&quot; may make the buyer wonder why the damage occurred, even if it was something as mundane as wear-and-tear. It's a bit like showing a home in that, so long as it won't impact the buyer, some things might be better left unsaid.


So, the general rule on a Seller Disclosure is only to provide the information that is asked for, including the information that the seller feels is truly relevant. If it isn't asked for and it's something mundane, such as the above, they don't need to disclose it.


The exception, of course, is for things that sellers are required to disclose, such as disclosures that came with their deed. Frequently, these are things like flood plains, notices of ambient noise pollution, and lead-based paint. Sellers should also be aware of and disclose latent defects, home issues that can't be reasonably expected to be caught by a standard inspection.


What Happens If Issues Are Discovered?


So, the seller fills out the Seller Disclosure to the best of their ability. Then, a month after the sale of their house, they get an angry call. The buyers have found toxic mold throughout the walls of the house.


If the seller didn't know about this and no inspections caught it, they're not liable. Inspections are part of a due diligence process; it may be the inspectors who are liable, it may be someone else, but it isn't the seller.


However, if it can be proven that the seller did know about the issues and didn't disclose them (and they were asked about), then they might be liable for damages. This could happen if, for instance, a buyer could show that the seller got termite treatment just before the sale of a property but didn't inform the buyer that termites might be a problem.


When the seller fills out a Seller Disclosure statement, it's in their best interest to answer as truthfully as possible. At the same time, they shouldn't volunteer information that isn't asked for because it could obfuscate the sale, and they shouldn't state anything that they don't directly know. The seller's real estate agent can help them determine what is and isn't relevant and whether there is anything additional they should disclose.


For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Tue, 25 May 2021 08:52:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/house-flipping-pros-and-cons.html</guid>
    <link>https://www.militaryhomesearch.com/blog/house-flipping-pros-and-cons.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>Should You Flip a Home if You're in the Military?</title>
    <description> <![CDATA[ 


Television is full of stories about people buying homes, fixing them up, and selling them at a profit. As a member of the military or as a military spouse, individuals may wonder if this is a good way to supplement their income. While house flipping can be profitable, the following information should be kept in mind before starting the process.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Choose a Place with Minor Repairs and in a Good Location


It can be tempting to look at a fixer-upper at a bargain price. However, unless the house flipper has the skills and funds to profitably correct problems, a house with major issues can quickly turn into a money pit.


Minor cosmetic repairs that can be accomplished quickly can add a lot of value to the home. Experts estimate that every dollar spent on paint, for instance, increases the selling price by $5. Simple landscaping improvements, new carpets, new light fixtures, or new window coverings are other low-cost improvements that can make a home's selling price rise.


It's also important to make sure the house is in a desirable location. Picking one in a place where people want to live is a key first step.


Buy Below Market Rate


Buying a home to flip with an assumption that home prices will go up can often end in disappointment. Instead, look for homes that are being sold below market rate. Sometimes, it is possible to find homes with minor cosmetic damage that have been on the market for a while. The ability to see the home's potential can be profitable.


Have a Plan for Sudden Relocation


Often, active duty military members have to move quickly with very little notice. It's likely that they will not know how soon they are coming back.


House flippers should make sure that they, and if applicable, their spouse, have a plan for what to do if they get orders to leave. A potential house to flip can't make any money if it's not ready to sell. Sales can sometimes be more complicated from far away, so having a plan in place can make the overall process easier.


Be Aware of the Limitations of the VA Loan


Part of why the VA loan's terms are so generous is that they are intended for owner-occupied residences. When buying a home with a VA loan, the buyer must take residence within 60 days. Additionally, they are required to live at the residence for at least one year.


While this may present a challenge for some house flippers, it can work out well for those who are willing and able to live in the house for the required amount of time. Buyers who are looking for somewhere to live with an eye toward turning a profit at the time of sale can do quite well.


Buying homes to flip is just like any other investment. It is important to research well and have a step-by-step plan for how to manage the purchase, renovation, and sale. Those who plan well are the ones most likely to have a successful house-flipping project. By understanding the market and which repairs are quick, easy, and affordable, a military home flipper can find a great place and make a bit of extra money at the same time.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Tue, 02 Mar 2021 08:00:00 -0700</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/home-showing-tips.html</guid>
    <link>https://www.militaryhomesearch.com/blog/home-showing-tips.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>3 Tips for a Better Home Showing </title>
    <description> <![CDATA[ 


There's a reason for all home sellers to go the extra mile for their home showing. This doesn't necessarily mean renting out expensive furniture or installing several water fountains, however. The following information provides three ways to scale a showing for any property.


Start with Cosmetics


Cosmetic touches can go a long way. Sellers can:




Spruce up the flowerbeds


Clean the windows


Paint the fence


Tend to the yard


Sweep the door stoop




Try Mini Updates


After the most obvious things have been fixed, homeowners can move on to completing small DIY projects to all the major corners of the home. This could mean repairing a few tiles, replacing outdated bathroom fixtures, or giving the walls a fresh coat of paint.


Adding a cashmere throw to a sofa or a fancy candle to the bathroom can also work wonders. These small touches instantly breathe new life into each room and help potential buyers remember it long after they head back to their own homes. 


Ask the Agent


In some cities and towns, a fireplace is a deal-breaker for buyers. In others, it's energy-efficient appliances that make or break the sale. Talking to an agent can help sellers understand buyer priorities, so they can play up certain features and bring them into focus. 


No matter where a person is selling, the standard advice is always to keep the decor as neutral and clean as possible. Sellers should be helping buyers imagine their own things in the home, not overwhelming them with loud colors or crowded areas.


There are so many reasons to show a home off, not least of which to improve the resale value of the home. Putting care and attention into the home can inspire others to take an interest.


 ]]> </description>
    <pubDate>Tue, 02 Feb 2021 09:07:00 -0700</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/how-to-sell-a-second-home-if-youre-in-the-military.html</guid>
    <link>https://www.militaryhomesearch.com/blog/how-to-sell-a-second-home-if-youre-in-the-military.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>How to Sell a Second Home if You're in the Military</title>
    <description> <![CDATA[ 


Working in the military often means moving around frequently, and households may find themselves living in one city this year and another the next. Military homeowners frequently juggle multiple mortgages, rental properties, and long-distance home sales, which can add tremendous stress to the relocation process. In addition, the VA loan many military homeowners use to qualify for the purchase of a home was designed for use with primary residences, which may make veterans and active military service members decide to sell their home whenever they relocate to a new post.


The following information details the terms for military homeowners and explains what service members can do to benefit from relocation and mortgage programs available to them when selling a secondary home.

​

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

​

How Do VA Loans &amp; Occupancy Laws Affect Selling Your Home?


Because VA loans are meant to be used for the purchase of a primary residence, many military homeowners feel obligated to sell their homes when relocating. This, however, is not a necessity: So long as both homes were purchased with the intent of using them as a primary residence, the VA loan can be employed multiple times, even simultaneously.​


A VA lender will generally consider the applicant's intent at the time they purchase the home. If a military home buyer purchases a home and lives in it for a year before being deployed to another base, they might choose to rent out the property while they're gone even though they're still going to buy a new property when they move. Just because the service member has exited the home does not mean the house has been converted into an investment property, nor does it mean they have to keep the second home if they no longer need it.


This system allows military homeowners flexibility in buying and selling their homes, as it provides a buffer for selling a home in a down market or gives them the flexibility of generating rental income from their previous homes. Just make sure to check your rental property calculator and see where you stand before you PCS. If it all checks out, military homeowners need not feel the pressure to sell immediately in the midst of relocating to a new home.

​

How Lender Laws Affect Selling Your Home


When buying a home, restrictions and regulations for VA loan eligibility may complicate the buying and selling process.


The exact rules will vary per lender, so it is important for military homebuyers to inquire with them before making any major moves with the property. While it will always be possible to sell a second home, the number of fees and penalties imposed by the lender might make it an impractical option if the owner had not arranged a deal beforehand.


Questions to ask the lender include:​




What are the limits of my certificate of eligibility?


How should a second property be rented while deployed?


Are there limits as to how long the property can be rented out?


Is it possible for the lender to work with home sellers who are located outside the country?



​

Capital Gains Exclusion


An active-duty military member who is called away from their home on orders is allowed to own a home for up to 15 years and still be exempt from capital gains. For example, a military service member who lives in their home for two years, but then rents it out for 13 years after being deployed may still be able to sell their home without having to pay capital gains. This perk makes it easier to sell a home, especially in an area that has appreciated over time.

​

How to Navigate Long-Distance Home Selling​


Depending on how quickly a military household is required to relocate, it can be difficult or even impossible to sell a home before the move. When selling long-distance, there are a few options to consider.


If there is a second adult in the household when the family relocates, that family member can stay behind to negotiate the home sale. This strategy is the simplest, as it gives the military household full control over the selling process and gives them more time to stage and prepare the home themselves. It also allows the household to save money on trips back and forth between the two cities during the home sale. However, if the market is slow or struggling, it may be a while before the process is finalized.


Should all adults in the household move to the new PCS location together, the family will need to depend on their real estate agent and other service providers to get their home ready to sell. While this method allows the household to stay together, it can incur additional costs, such as paying for a staging company, house clearance, vacant house insurance, lawn maintenance, and more.


The pros and cons of each strategy should be weighed carefully to determine which is right for you.

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For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


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    <pubDate>Tue, 08 Sep 2020 09:23:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/how-to-sell-a-home-as-a-short-sale.html</guid>
    <link>https://www.militaryhomesearch.com/blog/how-to-sell-a-home-as-a-short-sale.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>5 Tips for Selling a Home As a Short Sale</title>
    <description> <![CDATA[ 


Compared to a foreclosure, a short sale is one that requires much more time and effort on the part of a seller. Understanding a short sale can make it easier to dive into the different stages. Here is what homeowners should know about the short sale process. 


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Start with the Why


There are a few key reasons to choose a short sale over a foreclosure:




Control: A short sale gives the homeowner more bargaining power, which can be invaluable during a tough time.


Credit: A short sale will affect credit scores less than a foreclosure will.


Closure: Short sales give homeowners a way to settle their debt and move on.




While there's more work to be done, the rewards of a short sale are usually worth it. Homeowners who know the benefits from the start are much more likely to stick with the short sale process.


Talk to the Lender


The point of a short sale is to save the lender from having to hire a real estate agent, stage the home, arrange an auction, and advertise to buyers. Not only do the lenders not have to invest the time, but they might also get a better price from the short sale with a little extra time and attention from a motivated seller.


In some cases, lenders will agree to take less than what they are owed by the homeowner after negotiating a deal. In others, lenders may need to see additional evidence to agree to the homeowner's terms, such as sufficient proof that the homeowners are encountering financial hardships that cannot be resolved without the short sale.


Different lenders have different policies for a short sale, so it is important for sellers not to make any assumptions until asking how to proceed and what will happen in any given situation. Additionally, sellers need to be honest about the state of the home. For example, if there is a lien on the home, then the lender should know about it at the beginning of negotiations.


Find Out How the Debt Is Paid


Debt from a short sale can be labeled as either paid or settled, which does have an effect on a homeowner's credit score. If the lender is labeling the debt as paid, this will mean that the scores will come down less than if the debt is settled. (The amount a credit score decreases is in direct proportion to how many mortgage payments were missed.)


Just as lenders will have different policies for homeowners, different states will have varying regulations for lenders. In some states, settling the debt will release the seller from liability, but in others, the lender can still send a bill even after the sale officially goes through. Owners can try to negotiate a waiver prior to selling that can help them avoid this unfavorable situation.


Work with an Experienced Agent


Some people expect short sales to be a quick and easy process, but the reality is much different. An agent should have the experience to navigate a short sale and ultimately earn enough from the sale of the home to satisfy the lender.


Sellers should ask short sale agents how many times they have completed the short sale process, what their strategy is, and how long their average escrow is. The paperwork of a short sale has some difficult questions, making it easy to overlook a question or misunderstand the details. Only agents with a proven track record will be able to find the right solutions.


Be Prepared for the Process


A home buyer who is opting for a conventional home sale will usually be able to lock in their interest rates when they first apply for a home loan. With a short sale, the rules change. If lenders are financing the short sale, then they have the right to increase their interest rates at will.


The point of a short sale is to help both the lender and homeowner work together toward mutual satisfaction, and it all comes down to the homeowner making the effort to do as much as possible during the process.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


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    <pubDate>Mon, 24 Aug 2020 09:28:00 -0600</pubDate>
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    <guid>https://www.militaryhomesearch.com/blog/how-to-market-your-home.html</guid>
    <link>https://www.militaryhomesearch.com/blog/how-to-market-your-home.html</link>
        <author>lauren@militaryhomesearch.com (Lauren Schneider)</author>
        <title>What a Real Estate Agent Can Do to Market Your Property</title>
    <description> <![CDATA[ 


If you're a homeowner who is trying to sell your property, hiring a real estate professional is one of the best things you can do. Real estate professionals are master marketers; it's what they're trained to do By providing you with good advice, suggesting the right price for your home, and by taking steps to market your property to local and regional buyers, your real estate agent can help sell your home quickly. If you're a home seller trying to decide whether to hire a real estate agent to help you market your home, here's what you need to know.


Provide Staging Advice


Home staging and curb appeal can help attract home buyers. Staging is the act of sprucing up the home on the inside and in the back yard, while curb appeal is what makes your home look beautiful from the front yard. Methods for staging and boosting curb appeal may sound like common sense, but many homeowners have little knowledge of what home buyers are looking for when they view a house. A good real estate agent may pass on the following advice.


Declutter


Declutter the home's interior by hiding knick-knacks, old bills and extensive personal collections. Decluttering can make the home seem larger and more spacious. Homeowners who want to keep their things rather than throw them away can always put their items in storage for the time being while the home is being sold.


Make the Home Look Like a Showcase


Personal photographs, bold wallpaper and unusual pieces of artwork can detract from a home's appearance by reducing the home buyer's ability to imagine themselves living there. Homes that have generic appeal are often more attractive to home buyers because they make the home more relatable. Real estate professionals can make suggestions that can help home sellers create this personal appeal.


Perform General Maintenance and Deep Cleaning


Little maintenance problems can be a red flag for home buyers. Home sellers who want to create the impression that their house is well-maintained can help do this by performing deferred maintenance before listing their home for sale.


Repairing a cracked window or a small hole in the wall, painting a peeling window sill and replacing a tricky door knob are ways that homeowners can make their home more appealing to buyers. Real estate professionals can help homeowners identify the type of repairs that will contribute to staging and that will attract buyers.


Suggest the Right Price


This may not sound like marketing, but real estate professionals help homeowners sell by suggesting the right price. The price is a very important marketing tool, because it helps draw in buyers. If the home is listed for too high a price, it will draw in buyers who expect to get more for their money. If it is listed for a price that is too low, the home will sell for less than its true value.


Real estate professionals can help homeowners set the price that will bring buyers running and help the home sell for fast. Real estate agents do this by checking the cost of comparable properties in the area. Knowing how much other homes of the same size and with the same amenities cost, real estate professionals can attract the right buyers to see the property.


List Your Home


Real estate professionals help homeowners market their home by writing an attractive listing. Good listings are properly written, feature good pictures and highlight features that home buyers want.


In order to improve the listing, many real estate professionals will suggest taking professional pictures of the house, and some may also suggest drone photography or creating a virtual tour. Real estate professionals can also help home sellers connect with professionals who offer these services at an affordable cost.


Create Mailers


Often, real estate professionals who want to get the word out to homeowners in the area that a house is for sale will create mailers about the property's good features. Mailers can reach a wide audience and can draw people in, regardless of whether they're looking to buy a new house. 


Use Social Media


Many real estate professionals now use social media to draw in buyers. Listing a home on their own website and on various social media platforms, they cover a wide audience in their general area. With social media, real estate agents can also reach home buyers from far away places that might be tuned in to local real estate agent websites where they would like to buy. 


Contact a Real Estate Professional Today


Are you a homeowner who would like to sell your property? There are many things you can do to make your property more appealing to home buyers. Working with a real estate professional can help you identify the most effective ways to market your property.


Your real estate professional can also help you by marketing your property online and through other channels. To find out more about how you can make your home more appealing, contact a reputable real estate professional today.


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    <pubDate>Mon, 10 Aug 2020 09:40:00 -0600</pubDate>
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