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Facts About Lexington Park Homes / Buy and Sell WiselyLexington Park FAIR MARKET VALUEWhen you buy Lexington Park real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home. Lexington Park Real Estate Contract OptionsFinally, the Exclusive Agency Listing allows an agent to list and market your Lexington Park real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells. Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Lexington Park but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents. Lexington Park Real Estate CyclesWhat makes most sense is the "buy and hold" strategy. Buy a home you expect to remain in for at least seven years or more. Lexington Park is no different than most, although the Lexington Park market does have it's own special circumstances. Want to get a clear and up-to-date picture of the Lexington Park real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely. Buying a Lexington Park Fixer-UpperSome Lexington Park investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Lexington Park fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot. Best to know the extent of the job and whether or not you are up to it before you buy. Some Lexington Park fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Lexington Park homes that need minor structural repairs such as roofing are also fairly easy to cost estimate. What Makes Lexington Park Sell?Books have been written about this topic but to be concise, successful sale depends on six factors: Price; Terms; Location; The Home’s Condition; The Home’s Accessibility and the Marketing exposure the Lexington Park receives. Price is what a willing seller and a willing buyer agree on. Price is determined by the current market, which fluctuates causing home values and prices to fluctuate. Often Lexington Park that does not sell is over-priced for the current market. Terms can vary as well. Some owners want payment in full, some are willing to carry a second. Location is a major consideration in pricing and desirability for Lexington Park. Has the neighborhood gone to pot or does it look like a street at Disneyland? Are there open spaces nearby or is the home located in the middle of commercial district? Lexington Park SAVINGSEveryone wants to buy the home of their dreams at the lowest possible price. Here is a tip for making the best Lexington Park buying decision. Make sure you know the actual real estate values in the area or areas where you plan to buy so that when you come across a home priced below market, you will know it. |
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