How Much Will You Make On An Airbnb Listing?, The Most Important Factor In Accurately Valuing A Home, Astounding Home Mortgage Rate Insight

How Much Will You Make On An Airbnb Listing?

Real Estate Tip:

90% of what goes into the current value of a residential property is what similar properties have sold for in the last 6 months—so the key to arriving at the most accurate estimate of your home’s current value is getting recent sold price comparables in your neighborhood.

Real Estate News:

More than 85.7% of homeowners with mortgages have a rate below the current weekly average of 6.46%, prompting many to stay put instead of selling and buying another home at a higher rate—a phenomenon called the “lock-in effect.”

How Higher Energy Costs Will Affect Housing Demand, Oil Tank Due Diligence When You Buy Property, US Homes Sales Move Again

How Higher Energy Costs Will Affect Housing Demand

Real Estate Tip:

When you pay for an oil tank scan on a property you are going to buy, have the company you hire determine whether the tank is actively in use. If the tank has been taken out of service, you should request all documents relating to the tank closure including town permits and contractor reports. These documents will prove the tank was closed properly according to regulatory guidelines.

Real Estate Insight:

US existing home sales fell again in December, concluding the weakest year for home sale activity since 2014.

How To Avoid A Home Bidding War, Lease Due Diligence For Rental Properties, Hotel Conversion Opportunities

How To Avoid A Home Bidding War

Real Estate Tip:

Always ask to see any existing leases for any rental property you are considering for purchase. If you buy the property, you will be subject to the terms of those leases. Make sure the leases match the seller’s representations.

Real Estate Insight:

Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.