What I Need to Know When Selling My House

When selling a home, experts say location is a critical factor in a quick and lucrative sale. While location is important, there are other factors to be aware of. Most sellers want to sell quickly and make the highest profit possible. To do that, you need to understand the things we are about to cover and avoid the following mistakes.

Check Out Your Local Housing Market

It’s not always a good time to sell. Some times are more lucrative than others. Unless there’s an urgent need to sell, it’s a wise idea to research your local market.

Performing your due diligence can help you set an ideal asking price that will not only maximize your profits but also ensure your home doesn’t sit on the market.

Even if you’re in a position to keep your home on the market until you get your asking price, a long stay on the market can sour sales. Buyers may begin to wonder what is wrong with the home.

You can also use pricing estimates to begin your research. Pricing it well will help you avoid these challenges.

Another reason to do some research into the local housing market is that it can help you see what inventory is moving and if there are any common denominators. For instance, all things equal in home size and number of bedrooms and bathrooms, are homes that advertise updated bathrooms moving faster? What about new air conditioners?  While this may take some number crunching of recent home sales, it can help you decide what changes or upgrades are worth your time and money.

How to Set a Reasonable Asking Price

Get a comparative market analysis (CMA) on your home. Typically, a CMA will give a range that your home is worth and also will show similar homes that have sold recently near you. This will give you an idea of what your asking price should be. If you don’t pull these numbers yourself, and an agent does it for you, make sure the CMA includes homes that are as similar to yours as possible.

Compare more than just square footage. This could make a big difference in what homes sold for and how long it took. For instance, you may live in a post-World War II community of two-bedroom, one-bath homes. Most of the inventory falls under those specs. But maybe one home has been remodeled with an extra bedroom or bath. While it might be the same square footage as your home, having an extra bedroom or bath may affect price and time on market.

You can use your CMA to help establish a fair price or you could look at similar homes that are currently for sale in the area. If you’d like to go the extra mile, you can get your home officially appraised to find out your home’s true worth before setting the asking price.

Improving Your House’s Curb Appeal

Curb appeal is your home’s first impression on a potential buyer. It sets the tone for the buying experience. A run-down exterior can cause the potential buyer to wonder what else has been neglected inside the home.

Quick and inexpensive ways to improve curb appeal include:

  • Exterior painting of the home, shutters, trim, and/or front door.
  • Adding porch curtains or awnings, or updating the shutters.
  • Adding additional landscaping or taming what you currently have.
  • Displaying a welcoming doormat or adding plants on either side of the entrance.

Curb appeal doesn’t have to be expensive, but it can go a long way toward making a favorable impression. Plus, if you do the work before you post photos of your home online, you’ll be able to draw in more buyers digitally as your pictures will appear more appealing.

Use Social Media for Selling Your House

Social media is a great medium for selling your home because it’s an inexpensive way to reach a large audience. However, there are a few things you’ll want to do in order to be successful.

First, take a lot of pictures. Social media is a visual platform. Photos and videos get more clicks than long paragraphs of text. Just make sure you declutter things before taking the pictures. Post to social networking sites as well as real estate-specific sites.

Next, list the price. While some people may be hesitant to do this because they want to keep that information for only interested buyers, you will be fielding a lot of questions from unqualified prospects if you don’t list the price.

Finally, make your posts public so they may be shared, and then ask your contacts to do just that. You never know what friend-of-a-friend is in the market.

Understand the Finances

The days of forging income sheets and zero-down for buyers are largely relics of the past. Today’s home-buying financing requirements have changed. Choosing to work with cash offers and pre-approvals will make you less vulnerable to the home sale falling apart mid-way through.

You also want to understand or decide what fees you’ll take on in the sale. For instance, are you willing to cover closing costs? Don’t forget about title charges, liens, and mortgage obligations that will come out of the proceeds.

Mistakes to Avoid When Selling Your House

Do your best to avoid these common mistakes.

  • Don’t price your home based on what you owe. The market fluctuates and with it, so does the value of your home.
  • Don’t take it personally. For best results, think of yourself as being in the business of selling off an investment, not selling your family home. Emotions can get in the way of a good offer.
  • Don’t go it alone. Some sellers decide they want to sell on their own aka “for sale by owner” because they don’t want to pay a commission. Your home will likely sell quicker with a professional tasked to the sale, and you can sell for only 1% with SimpleShowing.
  • Don’t plan for a bidding war and assume you won’t need to negotiate. Leave some room for negotiation. It helps with the psychology of the sale because people feel better about the purchase when they’re able to shave something off the asking price. If you set the price with no wiggle room, the potential buyer may see you as stubborn and not interested in selling. If you don’t have any room in the price, consider pricing it slightly higher or offering other components as part of the negotiation.

Selling your house can be an exciting time, but there can also be some challenges. Knowing what to look for and best practices in real estate may help you shorten the amount of time your home is on the market and can lead to a larger profit.

Contact SimpleShowing today to learn more about our 1% listing fee.

Assessed Value vs. Market Value

How much is your home worth?

It’s always nice to know, but if you’re planning on selling your house in the near future or if your home will soon be assessed for property taxes, it’s vital that you understand its value.

However, there’s a big difference between your home’s assessed value and its market value.

What Is Market Value?

Market value refers to the amount of money a property will most likely bring in if you put it up for sale on an open market.

In other words, if you’re thinking about selling your home, it’s the factor that will tell you whether or not you can expect to turn a profit on the sale.

Experienced real estate agents understand that providing their clients with this number is one of the most important parts of their job. Each agent may have a slightly different approach, but they will all look at your house’s:

  • Exterior Features: Everyone knows curb appeal is important, but your real estate agent will also assess your lot size, your house’s style, the condition of your exterior, and the availability of public utilities.
  • Interior Features: The size of your house and how many rooms it has are important, as well. In addition, your real estate agent will look into its heating system, energy efficiency, and the condition of your appliances.
  • Comparables: Also known as “comps”, your real estate agent will want to research what houses that are comparable to yours have recently sold for in the same area. This will give them a good idea of what buyers are most likely willing to pay for your home.
  • Supply and Demand: At the same time, if the number of buyers in your area has been dropping, that might not be the case. This is why your real estate agent will also look for any recent shifts in supply and demand.
  • Location: Finally, we all know the importance of “location, location, location”, which is why your real estate agent will also evaluate your neighborhood, school district, crime rate, and other local factors that may affect your home’s price.

Market value isn’t just an important concept for sellers, either. Buyers often have their own agents come up with a value, so they have a better idea of what the home is worth without having to rely on the seller’s figures.

What Is Assessed Value?

The assessed value of a home is actually quite similar to its market value, except that it’s not a real estate agent who’s crunching the numbers this time.

Most counties employ house assessors to determine how much properties are worth and, thus, how much the owner needs to pay in property taxes.

To reach this number, assessors also rely on comps, how much recent improvements may have added to the home’s value, any rental income the owner may be receiving from it, and even how much it would cost to replace the house if something were to destroy it (e.g. a fire, flood, tornado, etc.).

How the Assessed Value of Your Home Impacts Your Taxes

Once the assessor has finished their evaluation, they deduct any tax exemptions that the homeowner may qualify for and multiply the result by the “assessment rate.” Each tax jurisdiction comes up with their own assessment rate, but it’s typically between 80% and 90%.

For example, if the assessor decides that your home is worth $350,000 and your county’s tax rate is 85%, the taxable value of your house is $297,500. Your local government will use that number to calculate how much you’ll owe in property taxes.

So, the big difference between assessed value and market value is that you have far more control over how the latter will affect your bank account. If the market value is too low, you could decide not to sell. Maybe you’ll wait a year or two until some renovations are done or the market swings in your favor.

On the other hand, there’s no escaping the fact that the state and local governments will demand you pay property taxes based on how an assessor priced your home. Keep in mind that the assessed value is also different than a third party appraisal.

How to Challenge the Assessed Value of Your Home

That being said, you’re not completely without options.

If you’re like a lot of Americans, you’ll probably be a little taken aback when you receive your assessment.

In fact, according to the National Taxpayers Union Foundation:

“Statistics vary by area, but experts estimate that between 30 and 60 percent of taxable property in the United States is over-assessed, and this leads to higher property tax bills.”

An inflated assessed value can be especially shocking if you just purchased the house and, therefore, are extremely familiar with its market value.

In that case, visit your local tax assessor’s office and file an application for tax abatement. The rules are different for this process in every state, so you should stop by the town hall for all the information you need to make sure you’re following procedure. Usually, you have to file your tax-abatement application on or before the day your first property-tax payment is due.

Your town’s assessor may also be allowed months to respond to your request.

If your abatement request is rejected, you still have the right to appeal it, as well. Some homeowners opt to get their home appraised by an independent appraisal company to support their appeal.

Again, find out your state’s specific rules before proceeding. Even if you haven’t received your house’s assessed value, understanding what’s required to respond now will make it that much easier to do so if the numbers come back high.

Speak with a Real Estate Agent Before Pricing Your Home

The importance of your house’s market value can’t be overstated. No matter how much you believe it’s worth, the amount someone will pay for it might be completely different. That’s why you need the help of an experienced real estate agent.

However, that market value is also important so you know whether or not the IRS is aiming a bit high with their assessment. Instead of taking them at their word and paying what they want, having an actual assessment will tell you if it’s worth appealing.

At SimpleShowing, we make it easy to connect with qualified real estate agents to help in this process. Even better, when you use one to sell your home, you keep thousands more in equity when you sell with our 1% listing fee.

What Is a Kick Out Clause?

When it comes to houses, the term “kick out” probably doesn’t have the best connotation.

However, a “kick-out clause” is actually a very common stipulation added to sales contracts when selling a house.

Whether you’re selling your house or you’re a homeowner who will soon be moving, it’s important that you understand what a kick-out clause entails.

Definition of a Kick-Out Clause

Before we explain what a kick-out clause is, we first need to cover contingencies:

In real estate, if a property is marked as “contingent”, it means that an offer has been made and the owner accepted it.

However, it’s contingent (instead of “sold”)  because one or both parties have requested certain provisions which the other party has yet to approve.

One common type of contingency is a “home sale contingency”, which means that the sale is contingent upon the buyer selling their current home first. In other words, the buyer wants the seller’s house, but they don’t want two mortgages. So, the sales contract effectively says, “The buyer will officially purchase the home on or before xx/xx/xx if they’ve sold their home. If they haven’t, the sale is dissolved.”

With a kick-out clause added to the sales contract, the seller agrees to the home sale contingency, but they also reserve the right to kick out (e.g. remove, cancel, etc.) the contingency if another offer is received.

The seller can also continue marketing the house, which is another key feature. Furthermore, if they receive another offer, the buyer will only have a finite period of time (usually 24-72 hours) to remove the contingency. Otherwise, the seller can accept the new offer.

Advantages of a Kick-Out Clause

While kick-out clauses may seem to favor the seller, buyers may insist on them as well. Here are three features they bring to the table.

1) De-Risks the Contract for the Seller

Again, the benefits for the seller are obvious.

The main one is that the kick out clause allows a path for the home sale contingency to be a part of the contract, but also gives the seller the right to can also cancel the contract if another offer shows up. That’s peace-of-mind any seller would love to have.

It works out well for buyers, too. Imagine finding your dream home before you’re able to sell your current property. If not for a kick-out clause, most people would have to take on two mortgages until they were able to sell their first house. The only alternative would be giving up on that dream house.

2) Extends Marketing Opportunities for the Seller

Sellers also love that they can continue marketing their property despite the fact that they’ve already accepted an offer.

They can even accept higher offers from another buyer. Even though the “right of first refusal” would mean the original buyer gets the chance to match it before losing the house, the seller still comes out ahead.

3) Makes the Home Sale Contingency More Palatable

Without a kick out clause, most sellers will simply reject an offer that has a home sale contingency. Adding the kickout clause, makes the offer much more tolerable to a seller. Finally, if you’re the seller and a buyer asks you for a home sale contingency, you should probably feel entitled to negotiate a bit too.

A common demand for sellers in this situation is simply an aggressive timeline for the buyer to move forward. If you anticipate more offers are on their way, you’ll have even more leverage with which to pressure the buyer into selling their house ASAP, so you can finish the sale.

Disadvantages of a Kick-Out Clause

Kick-out clauses aren’t always a good idea, though. Again, it may seem like sellers would be foolish to forego them, but kick-out clauses could backfire for either party.

1) Original Buyer Loses the House to 2nd Buyer

As the buyer, if your contract has a home sale contingency with a kick out clause, you’ll need to move quickly to sell your current home. That’s because if the seller gets a 2nd offer (either higher or lower), the seller can accept that offer if you don’t have your other home under contract yet. That’s assuming you can’t carry two mortgages.

2) Losing a Higher Offer as the Seller

The right of first refusal means that sellers can’t just accept an offer if they’ve already entered into a contract with the first, original buyer, even with a kick-out clause in place.

Instead, they have to give the initial buyer a certain amount of time to match it.

If you’re the seller, this probably doesn’t seem like a bad thing. Either way, you get the higher amount, right? While we did list that as one of the advantages of a kick-out clause, there is a chance that both offers could fall through.

Say, you agree to sell your house to an initial buyer for $400,000, provided they sell their house in the next 60 days.

Then, a few days later, another buyer offers you $415,000. You let the initial original buyer know. They agree to match it, even though it means taking on two mortgages. You give the second buyer the bad news and prepare for the sale of your home.

Are You Thinking About Selling Your House?

While kick-out clauses aren’t always necessary, it’s helpful to understand how they work in case you receive an offer from someone who wants to sell their own house first.

Of course, as you now know, it’s not always in your best interest to include such a clause. An experienced real estate agent can recommend when it makes the most sense.

At SimpleShowing, we’d love to help you connect with such an agent. Best of all, we only charge a 1% fee to list your home. Contact us today and we’ll explain how simple it is to use our platform.

What Does Contingent Mean in Real Estate?

Are you shopping for a new home and keep running into the term “contingent”?

A real estate contract often involves special stipulation and “contingencies” that dictate the listing status of a property.

When a home is shown online as “contingent,” it’s because the property is under contract with a buyer, but the sale is not finalized as a result of one of the various contingencies.

The terms and “contingencies” of the contract are a critical feature of a residential real estate purchase.

What is Contingent Status?

When you’re shopping on Zillow, Realtor.com or another favorite real estate app and see a property marked as “contingent”, this means that an offer has been made and the home is under contract and is pending sale or pending close of escrow.

The property remains in “contingent” status until the contingency period expires (for example during a 14 day appraisal contingency period). During this contingency period, the seller can continue showing and marketing the property, but they can not accept another offer.

What Does It Mean When a Property Is Pending?

“Pending” is another common label you’ll often see on real estate listings. It simply means that the home is under contract and the two parties are moving forward with the sale as the contingencies have been resolved.

Whereas a property labeled “contingency” is still technically active, that’s not the case with one that is in pending status. The offer was accepted, and the contingencies were resolved. Both parties are just waiting on legal and title work to clear.

Keep in mind that the terminology and listing status used is dictated by the local multiple listing service (MLS). In some cases, pending and contingent are used interchangeably, even though they technically have a slightly different definition.

5 Common Types of Contingencies

As a home buyer, there are several common contingencies that you can include in your offer, but that doesn’t mean the seller is going to accept them. Market conditions and days on market tend to dictate the likelihood of a seller accepting a contingency.

If a property has been on the market for several weeks, an anxious seller may accept multiple restrictive contingencies. On the other hand, the seller of a hot property that is newly listed and has already received multiple offers, is unlikely to accept many (if any) contingencies.

The following six are the ones that are the most common contingencies:

1. Inspection Contingency

An inspection period is often known as a “due diligence” period in most states. Home inspection contingencies has become so commonplace that the vast majority of sellers expect it and typical agree to it. Who wouldn’t want to have an expert inspect a home before they take out a mortgage to purchase it?

The important thing to note here is the number of days provided for the home inspection contingency period. For the seller, it’s best if this period is short (ie. less than 5 days). For the buyer, you’d want this home inspection period to last 10 days or more. In general, one week is typically what we see in a normal market. During this inspection period, the buyer will hire an inspector to perform an evaluation of the property to discover any possible problems with the roof, plumbing, electrical, etc.

Some sellers will even hire their own inspectors before even putting their home on the market, just to make sure they’re not going to run into any problems.

2. Appraisal Contingency

All lenders will require that a home appraisal be done before they’ll provide funds to a buyer. Some exceptions exist, if the buyer has a very large down-payment and the home qualifies for a “desk appraisal” – which is an automated valuation. The lender wants to be certain they’re not lending any more money than is absolutely required for the house after taking into account the down-payment made by the buyer.

Of course, when it comes to the value of a property and the purchase price, homebuyers should also want to verify the home value. No one wants to spend more than they need to on anything, much less an investment as big as a home. If you’re the seller, learn more about how to prepare for a home appraisal.

With an appraisal contingency, the prospective buyer is stating that they won’t pay more than the amount the appraiser values the home at. So, if the appraisal comes in lower than the contract price, the buyer has an opportunity to re-negotiate the price or terminate the contract.

3. Financing Contingency

It’s important to understand what to expect when getting a home mortgage because you don’t want to find your perfect home, then get an offer accepted only to discover that you can’t get a loan approval for the property.

A financing contingency (or mortgage contingency) protects the buyer in case they are unable to obtain a mortgage for the property. If the buyer is unable to secure financing from the mortgage lender prior to the end of the financing contingency period, they are able to back out and keep their earnest money.

4. Title Contingency

Before you can close on a home, the title company must carry out a thorough title search to check for any possible issues that might challenge the validity of the sale. Otherwise, you could buy a house only to later learn that the former owner’s ex-wife still has a claim on it.

A title contingency allows the buyer to back out of the sale if the title search comes back with any problems.

5. Home Sale Contingency

For a homeowner looking to buy a new house, finding the perfect home and making an offer is only half the battle. They still have to sell their own house, too.

Say you’ve just accepted an offer on your home, but the buyer still has to sell their own. Until they do, they can’t actually get the mortgage they need to pay you.

A further provision of a home sale contingency is a kick-out clause. With a kick-out contingency in place, you’re essentially telling the buyer that you reserve the right to cancel the sale if another buyer comes forward with the funds needed to complete the sale.

Should Sellers Accept Contingent Offers?

There’s no one right answer here, but, generally speaking, you should consider the market conditions. If the market is working in your favor, you can probably reject contingencies because you’re confident more offers are coming. However, if other terms in the offer are weak plus it contains contingencies, you’d be better offer rejecting the offer or countering some of the other terms.

For example, if the offer contains a low offer, a long appraisal period and a low earnest money deposit, you’d certainly want to counter offer all three terms.

On the other hand, if your home isn’t attracting a lot of interest, or if the home has been on the market for longer than 30 days, you may want to accommodate any interested buyers – despite the contingencies.

Get Expert Guidance with Real Estate Contingencies

Again, you want the help of an experienced real estate agent who has dealt with contingency offers numerous times. They’ll be able to assess your unique situation and give you the best possible advice about how to proceed in a complicated real estate transaction.

At SimpleShowing, we’re changing the way the home buying process works. Choose a qualified real estate agent through our platform and save thousand in Realtor commissions with our reduced listing fees.

Contact us today and we’ll explain exactly how our popular service works.

How Long Does It Take to Sell a House?

Listing your house for sale can be a nerve-racking experience.

It’s easy to begin worrying that your home might not attract a lot of interest and that it will sit on the market for months while you put the rest of your life on hold.

Or perhaps your home is already on the market, but not selling.

5 Factors That Affect How Long It Takes to Sell a House

According to Zillow, it took an average of 68 days to sell a house in 2018 but only 25 days to sell in 2021. Certainly 25 is much, much better than 68 days. More than 2 months seems like an eternity!

Here are some of the factors that impact the sale process and might lead to a lengthy number of “days on market.”

1. Asking Price

Not surprisingly, how much you’re asking for your home will play a big role in how fast it sells. Ask for too much and you’ll be lucky to sell within 68 days. Price below your home’s market value and you could sell within a week. Overpricing your home (especially in 2023) is easily the biggest and most common mistake that sellers tend to make. To most homeowners, the equity in their home represents the biggest chunk of savings they possess.

This is why a proper valuation of your home is so important. While tools like Zillow Zestimate can often give you a ballpark figure, when you’re serious about selling, you” want to get a professional home valuation from a real estate agent who can help you make an informed decision about a realistic and competitive price for your home.

Generally speaking, the longer your house stays on the market, the worse it looks to potential buyers and the more you’ll have to drop the price to generate interest. Better to ask for a bit less than what you think it’s worth and let interested buyers bid against each other to bring the price back up and sell your home quickly.

2. The Condition of Your Home

One of the main reasons it’s so difficult to accurately say how long it takes to sell a home is because the condition of a house makes all the difference.

That’s not to say that you can’t sell your house “as is”, it’s just that you have to then price it appropriately. If it needs new plumbing, but you’re pricing it inline with the market value of comparable homes without the same problems, it’s probably going to take a lot more than 68 days to find a buyer.

Still, even if your home is in great condition, there’s a lot you can do to make it look even better when potential buyers come to visit:

  • Treat Staging as a Serious Priority – Good staging is essential. It’s how you minimize any of your home’s weak points while drawing attention to what makes it such an alluring property. This is another reason it’s worth hiring an experienced real estate agent who has handled this essential step countless times before.
  • Don’t Make It Personal – One of the most common pieces of advice when it comes to staging is to depersonalize your home: remove any photographs, heirlooms, or other items that would remind a potential buyer someone else already lives there. Make it easy for them to envision what the house could look like after they’ve bought it.
  • Use a Storage Unit to Clear Clutter – The last thing you want is for your home to look cluttered. If anything, you should err on the side of minimalism. Even if you have plenty of storage space in your home, if it all looks full, your house will appear as though it’s actually lacking this attractive feature. Invest in a storage unit while staging your home, so potential buyers see how much room they’ll have for their things.
  • Fix What You Can – While you might not have the budget to replace all of your home’s plumbing, there may be other minor fixes you could cover before listing your house. Take care of as much as you reasonably can, and you should be able to attract more interest in your house.

3. Location, Location, Location

Obviously, there’s not a whole lot you can do about your home’s address, but everyone knows how much location matters when you’re trying to sell a home.

So, while you can’t change where your home is located, again, you can research comparable home prices in the area and list yours for a similar amount.

4. The Current Real Estate Market

Consider the national and local real estate markets, too.

When it’s a seller’s market, you can expect to ask for a bit more and still see your home attract buyers quickly.

That’s not to say a buyer’s market means you need to take a loss, though. You just have to price your house accordingly and put more time into showing off its best qualities through deliberate staging.

Aside from looking at what similar homes have sold for, research how long it took them to sell, as well. That average will be a lot more helpful as a meaningful barometer you can use to manage your expectations and even adjust your price as time goes on.

5. The Season

Finally, when you put your house up for sale can also impact how long it takes to sell.

This is another factor that will be specific to your area, though.

For the most part, people want to move during the summer. It’s easier for parents who might otherwise have to take their kids out of one school and put them in another. It’s also easier for anyone who lives in an area that sees snow during the winter.

Nonetheless, your local market could be different, so take a moment to look into when people are most likely to buy, and you’ll be able to drop the number of days your house spends on the market.

Speed Things Up by Working with an Experienced Real Estate Agent

As you can see, you have options for ensuring your home doesn’t sit around and collect dust. Though how long it takes to sell a house differs by market, you can take certain steps to help yours sell faster than most.

One of the best ways to do this is simply by working with an experienced real estate agent. At SimpleShowing, we’d love to connect you with one and save you thousands of dollars with our 1% listing fee. Especially if your home is overpriced, many homeowners re-list their property with SimpleShowing and reduce their asking price by 2%, which represents the amount saved in commission.

Contact us today to find out how we’ve made it easy and affordable to sell your house quickly.

Best Coffee Shops in Atlanta

What are the best coffee shops in Atlanta? While Atlanta may not be a coffee capital like Seattle, the city is still home to a growing share of wonderful local coffee shops and cafes. Whether you’re stopping for your morning cup of joe, meeting up with friends, taking advantage of free Wifi, or unwinding with a good book, there is an Atlanta coffee shop that’s perfect for you.

So, if you are in need of a caffeine fix in Atlanta or the suburbs, check out some of our favorite coffee shops. Maybe one of these will become your new, go-to coffee spot!

Spiller Park – Toco Hills

In 2015, Dale Donchey opened the very first Spiller Park Coffee at Ponce City Market. Now Spiller Park has two other locations at Toco Hills and Moores Mill – both inside the perimeter.

Crazy Love Coffee – Roswell

Owners Perry and Sandra Pettett opened Crazy Love Coffeehouse in May of 2017. The mission at Crazy Love is to provide a great cup of coffee and a comfortable gathering place, while sharing the love of Christ. The Pettetts, who come from a building and design background, felt God leading them in a new direction.

After 18 months of praying, planning, constructing and designing, Crazy Love Coffeehouse was born. The couple searched diligently to find the perfect cup of coffee to pair with their signature Belgian Liege waffles.

Rev Coffee – Smyrna

While Rev Coffee Roasters may be located just outside of the Perimeter in Smyrna, this metro area coffee shop stands strong amongst its competition. Set inside of a converted garage, Rev features a funky automotive theme and is decorated with local artwork. However, what truly sets Rev apart is its high-quality beans that are roasted in-house, as well as its tasty scratch-made food items. The shop features a rotating menu of fun seasonal drinks, as well as local favorite creations to try.

Muchacho – Reynoldstown

Spice up your morning with Muchacho. Located in Reynoldstown, one of the hottest neighborhoods in Atlanta and right off the Beltline, this West-Coast inspired coffee shop is serving up much more than just fresh coffee and good vibes. Through the bright yellow doors, visitors will find a retro interior and a large menu of specialty coffee drinks, house made juices, beer, cocktails, and more.

If you’re looking for a bite to eat with your coffee, make sure to try one of Muchacho’s popular breakfast tacos or burritos!

Valor Coffee – Alpharetta

Located in popular downtown Alpharetta, Valor is easily one of the hippest coffee spots in the suburbs. Started by Ross Walters with the goal of giving guests, partners, and employees an uplifting experience through care and intentionality. Valor is a group of fun, genuine, invested individuals who are passionate and excited about being a servant to others.

Brash Coffee Roasters– Westside Provisions/West Midtown

Brash Coffee at Westside Provisions is the perfect example of “good things come in small packages”. Repurposed from a pair of blue and white shipping containers, this charming coffee shop offers the perfect grab-and-go coffee spot for busy days.

While the menu remains fairly simple, it is well known for their smooth espresso drinks. If you want to enjoy Brash coffee in more of a sit-down setting, check out their location inside the Atlanta History Center in Buckhead or at HugeXBrash in Midtown.

East Pole Coffee – Armour Yards

If you’re looking for a coffee shop where you knock out some work, East Pole Coffee is the place you should go. Sandwiched between Midtown and Buckhead in Armour Yards, this coffee shop provides a relaxing vibe perfect for when you need a break from the home office setting.

If you can’t find a seat inside, grab a spot on the stadium-style step on the side of the cafe. Besides it’s productive atmosphere, East Pole Coffee is known for it’s fresh in-house roasted beans and knowledgeable baristas. Ask them for recommendations and give their baked goods a try too!

Cold Brew Bar – Reynoldstown

This Reynoldstown coffee shop has brews on tap! Having pioneered the concept of a full cold brew coffee bar, Cold Brew bar offers a 14-tap system pouring quality brews such as traditional cold brew, nitro cold brew, matcha, and sparkling teas. If cold brew isn’t your thing, hot coffee is also available along with a wide variety of creative coffee concoctions and tasty food options.

Located at Atlanta Dairies, Cold Brew Bar offers a lively neighbor-centric atmosphere with plenty of seating for gathering with friends.

Dancing Goats Coffee Bar – Old Fourth Ward

Dancing Goats, Ponce City

If you currently live in or have ever been to Atlanta, Dancing Goats Coffee needs no introduction. The Old Fourth Ward coffee shop is highlighted by a spacious, glass-enclosed patio that serves as an outdoor oasis for those enjoying some caffeine fuel before heading over to Ponce City Market.

While the shop’s most popular location is right off the Beltline in Old Fourth Ward, one of the most walkable neighborhoods in Atlanta. There are also three other locations: one in Buckhead, one in Midtown, and one in Decatur.

Chattahoochee Coffee Company – Vinings

While Chattahoochee Coffee Company has both a West Midtown and Smyrna location, it’s the Riverside location that we love the most. Located inside the gated Walton on the Chattahoochee Apartment Community, this hidden gem is open to the public on the weekdays. Not only is the coffee amazing, but so are the views.

This particular location sits right along the Chattahoochee River offering serene views and plenty of outdoor seating. Hang out on the outdoor patio, or take your coffee to-go and relax by the river below!

Hodgepodge Coffee – East Atlanta Village

East Atlanta Village’s Hodgepodge Coffeehouse and Gallery is an art (and coffee) lover’s dream. The shop boasts a quirky vibe with welcoming staff and a cozy yet spacious interior. Make sure to try out Hogepodge’s signature favorites like the “Oh Honey” latte and the blueberry crumble cake. Take advantage of the plentiful seating options around the coffee shop, or walk around and explore the local artwork for sale along the shops interior walls.

Coffee shops are designed to create a space in which you can not just savor the coffee, but also savor the environment that surrounds you. Having a coffee shop in your neighborhood helps to connect the local community. Which coffee shop in Atlanta is your favorite?

About the Author

Are you looking to move to the Atlanta area? If so, let our team at SimpleShowing be your guide! Our local agents can help you find the right neighborhood for you. Best of all, when you work with a SimpleShowing agent, you will qualify for our Buyer Refund Program, which could give you up to $5,000 towards closing costs. Contact us today to find out how you can get started on your home buying journey.

What is a Cash-Out Refinance?

Refinancing is a great way for homeowners to lower their mortgage and acquire the funds to renovate their home. A cash-out refinance replaces a homeowner’s existing mortgage with a new loan that is more than what is owed on your house.

This refinancing option takes advantage of equity that has built into the home. The difference between what you owe on your home and the equity of the home goes to the homeowner in the form of cash. This cash is typically used towards immediate home renovations or debt consolidation.

So how does it work? A cash-out refinance will take out a portion of your home’s equity and add it to your new mortgage principal. Let’s say that you purchased a home for $300,000 and have paid off $80,000. Your current amount owed is $220,000, but you want to make $20,000 worth of renovations to your home.

A cash-out refinance won’t add on additional monthly payments to your plate like a second mortgage would but instead replace the original loan. If you choose to cash-out refinance, your lender will give you the $20,000 from your equity and your new mortgage will be worth $240,000.

Why cash-out refinance?

There are numerous benefits to refinancing and reasons why one would choose a cash-out refinance for their home. Here are just a few you might want to consider.

Home improvement projects

Home improvements are perhaps the most common use for cash-out refinancing. Using the funds from a cash-out refinance, homeowners can deduct the mortgage interest from their taxes if the projects increase the home’s value.

Consolidate debt

Cash-out refinance rates tend to be lower compared to other forms of debt. Using a cash-out refinance will give you the money you need to pay your debts. From there, you can transfer what you owe to lower-payment interest. If you are paying off credit cards, this will help you to raise your credit score.

Invest in properties

Investing can be very expensive, but cash-out refinances can help.  Many investors commonly use cash-out investments using the BRRR method. This strategy helps investors pay off their existing mortgage, and pocket the cash difference for future investments. If you’re investing in a property long term, why not turn the equity you’ve built up into capital you can use towards more investments?

The great thing about cash-out refinancing is that the money you get back is yours to use how you please. While these are the most common reasons people choose a cash-out refinance, there are many other uses. Many homeowners choose to put the money towards non-housing related investment such as college funds or retirement plans.

How much cash can you get when refinancing?

The amount of money you get from cash-out refinancing varies greatly depending on your credit score, the type of mortgage loan, and your home’s value. To determine your home’s value, you will want to get it appraised. Most lenders allow homeowners to borrow up to 80% of their home’s value.

However, there are exceptions. Lenders who offer loans insured by the Federal Housing Administration (FHA) will sometimes offer FHA cash-out refinances. This type of cash-out refinancing allows homeowners to borrow up to 85% of their home’s value. Another exception are VA loans which are available for 100% of the home’s value. Meet with your lender to discuss their policies and your options.

How does a cash-out refinance work?

If you’re considering a cash-out refinance, you will want to know how the process works and what steps you will take to qualify. Here is what you should know:

Learn about the requirements

First things first, you will want to check out the requirements needed for a cash-out refinance. Most lenders have their own set requirements when it comes to determining who qualifies for a refinance. These requirements typically include:

  • A minimum credit score of 620: The typical credit score needed to refinance is 580. However, if you are looking to take cash out, you’ll likely need a score of 620 or higher to qualify.
  • Equity in your home: To secure a cash-out refinance, you need to have some equity built into your home. Look carefully at your current equity before you commit to a cash-out refinance.
  • A debt-to-income-ratio of less than 50%: Make sure that the amount of your monthly debts is less than half of your total monthly income.

Figure out how much cash you will need

Once you determine that you qualify for a cash-out refinance, it is time to figure out how much cash you need. Get a couple estimates on the renovations and repairs that you plan to make. This will help you to get an understanding of your budget. However, if you are refinancing to consolidate debt, you will want to look over your bank and credit card statements to determine what you will need.

Apply to Refinance

After the requirements are met and the needed cash amount is determined, it’s time to apply to refinance. This is done through your lender. Be prepared to provide financial documents such as bank statements, W-2’s or work pay stubs to prove your debt-to-income ratio. Following refinancing approval, your lender will help guide you through the closing process. Your refinancing check will be sent to you shortly after.

Cash-out refinancing vs. home equity loan

While both cash-out refinancing and home equity loans are both methods for capitalizing on your home’s equity, there are a few major differences. A cash-out refinance is not a loan but instead a refinancing option that replaces an existing mortgage with a higher amount. Homeowners pay off the old mortgage and keep the difference in cash.

On the other hand, home equity loans are a second mortgage. This means you will be paying an additional mortgage on top of your original one. Home equity loans tend to have higher interest rates than cash-out refinancing. This is just another reason why homebuyers choose to cash-out instead for their financial benefits.

Bottom Line

A cash-out refinance can be a great option for homeowners to take advantage of their home’s equity and use it towards home renovations, debt consolidation, investments, or other financial needs they may have. While the process might seem like an easy choice, tapping into your home equity isn’t a decision you can make lightly. Putting your home on the line as collateral is a risk. Consult with your lender to make sure refinancing is the right choice for you.

Are you considering getting a mortgage to buy a new home? SimpleShowing can help you get your dream home within the shortest time possible. Work with our experts and start your journey to becoming a homeowner. Contact us today!

When to Sell a Rental Property

Almost every real estate expert agrees that rental properties are a good investment. Many people take it as a retirement investment or a side business because it’s a wonderful way of generating passive income. However, it’s important that you understand that rental properties may not work for everyone.

There comes a time when maintenance costs, taxes, lease rates, and other expenses become too much to bear. When things take this turn, then the next thing you’d be asking is should I sell my rental property? Well, this answer can be a yes or a no, depending on different situations.

Here are some of the things that might prompt you to sell a rental property.

The Rental Market Is No Longer Profitable

A drop in rental prices will force a property owner to sell. Some areas may start facing lower demand for rentals because of oversupply. Maybe new construction is popping up, but the population of renters is not growing. Therefore, there will be more competition for supply. As a result of this phenomenon, many property owners find it hard to rent their rental units at the original rates.

The problem with a high supply of rental units is that landlords might have to lower their rental rates. Sometimes landlords might have to lose their rentals even though they paid large amounts of money for them only months before. The rental prices may drop so low that you’d find it hard covering maintenance costs, mortgages, and taxes. This is particularly true if you have a high interest rate on your rental property – depending on rates, you may not be able to refinance to obtain a lower rate and payment.

Before you even consider lowering rental rates even further, take your time to study the real estate rental market trends. If things seem to be getting worse in the sense that your rental income continues to drop while the cost of other things goes up; it’s best not to wait till it’s too late.

The Property Is Not Appreciating

Some people always think that the value of their property will appreciate with time.  While this might be true, it’s presumptuous to say this for all types and styles of rental properties. If the property is going down in value and you’re not extorting your tenants at all, then you’re making a loss on the rental income. It’s a clear sign that you need to sell rental property before the value drops even further. Otherwise you may be forced to sell it later at a meager price.

It may also be a good idea to sell when the property is gaining value. The idea here is to collect equity when it’s on its way up and then sell for an excellent profit when the value reaches its peak. At this point, you won’t even struggle to cover all the costs of selling your property.

Sell When You’re Getting Low Cap Rate

Cap rate equals Net Operating Income / Property Value. It’s a way to measure the return on investment of a real estate property.  Many investors use this method to determine how substantial their investment is in the rental market. If you have a high cap rate (for example, 10%), that means you’re making good money on your property.

If you’re getting a very low cap rate (for example, 2%), that means you’re only making a 2% return on your investment, and that’s not good in the long term. Two things usually cause the low cap rate. The area’s market value has decreased, or it’s an old property and thus not worth much.    

In this case, to increase return on investment, you should sell your rental property and buy another one with a better cap rate. You should always pay attention to your property value. If the cap rate is too low for the area, try and wait until the surrounding properties’ market value goes up or look for another property with a higher return on investment.

Tightening Regulations in Your Area

If the regulations are too tight on the property, you should try to loosen them up. If it’s too hard for you to loosen these regulations, you can consider selling the property. Many pro-tenant regulations are coming up, many fueled by the pandemic.

For example, there are regulations barring landlords from evicting tenants until the situation gets better. While this might be good news for tenants, it’s bad news for property owners. If these regulations are eating up profit from your rental investments, the sale of a rental property might be a better decision.

Property Taxes are Too High

If the tax on rental income is high, consider lowering them or part with the property. It might be a better idea to find another location, one that can take advantage of tax breaks and lower taxes altogether. If you’ve tried doing this and you can’t lower your property taxes, then perhaps it’s best if you sell up and move to a different market with lower taxes on properties.

Also, remember that you’ll still need to pay taxes for capital gains on a rental property when selling it. This tax is usually a requirement after owning the property for more than a year.

The Property Needs a Lot of Repairs

If the cost of repairs is way above your financial capability, it’s time to sell. Even if you do get the property repaired, it costs too much to maintain. Unless there’s a compelling reason like cash flow, don’t hold on to an investment that needs constant repairs.

Consider both expected and unexpected maintenance expenses to determine whether to sell your rental property or hold it further. Don’t wait for those appliances like the furnace to get in a terrible shape before you can sell.

Sell Your Property When Selling Is a Good Financial Move

It is prudent to sell your property when the time is right. Not just for you but also for tenants. If your house has been vacant on and off ever since you bought it, if your tenant-turnover rate is high, or if you are not getting a desirable financial return on your investment even after all these years of holding onto it, then you should consider selling.

If you plan to use the money for a much worthwhile investment, selling your property will be an excellent financial move. Some of the best investments that might prompt you to sell your rental property are real estate investment trust, stock market, bonds, or investing in a different property with a higher cap.

So, When Should I Sell My Rental Property?

The above situations should help you decide to either sell or not sell your rental property. Note that the decision is not always in your hands. Sometimes real life estate market trends such as a drop in property value, high taxes, high repair costs, and rental prices drop will force you to let go of your investment. If you’re making losses instead of gains, then this is no longer an investment.

You should also understand that every property is different, and the best way to handle things is to understand your goals. In some cases, investors purchase properties with plans of having one or two tenants before deciding on selling and moving to another property. Other investors look to exit the entire investment after a set number of years. Some choose to hold on for long-term goals — such as retirement or buying another property instead of selling it off. So what are your investment goals?

If you decide to sell, SimpleShowing will help you do it faster and move on to your other commitments. Get in touch with us today! We’ll let’s help you sell more quickly and at at a reduced price with our 1% listing fee. Take our free home valuation to get started.

How to Start Investing in Rental Properties

As you already know, investing in rental properties can be a profitable strategy for those looking to earn a passive income and grow their investing portfolio. If you have already decided the rental property path is right for you, you are probably wondering how to get started.

Investing in rental properties isn’t as easy as you may think. For beginners, it can be a challenge figuring out where to even start. The real estate investing world is full of methods and strategies aimed for success. Knowing all the basics is the easiest way to get your priorities straight when it comes to investing in rental properties.

The Types of Money You Can Make

While many believe that investing in stocks is a far better option due to drastic increase in prices, rentals are a great long term investment that provides more than just a steady cash flow. Here are some of the ways you make money through investing in rental properties.

Cash Flow

The largest stream of income you will receive as a rental property investor is cash flow. Cash flow refers to the income you earn from tenants after paying all other expenses. This includes the mortgage, maintenance costs, vacancy allowances, and property management. Rent, mortgage payments, and expenses will vary greatly on each property depending on the condition, the location, and the rental market.

Equity

Purchasing a rental below market value allows investors to create instant equity. Equity is the difference between what you owe on your mortgage and what your home is currently worth. Determining the value of a property can be difficult due to their differing features and locations. This produces great opportunities to find incredible deals. Through renovations, you can easily increase the equity of your rental property.

Tax Benefits

You are likely to come across some great tax benefits as a rental investor. Nearly all expenses on rentals are either deductible or depreciable. This includes the interest paid on the property’s mortgage. The biggest tax benefit by far is the depreciation. Depreciation is the process used to deduct the costs of buying and improving a rental property. In other words, investors can depreciate that percentage from their income which will lower their tax bill.

Appreciation

While property appreciated shouldn’t be the sole reason to invest in rentals, it is a nice little bonus. Depending on the property’s location, investors can make good money from property appreciation. The value of any property generally increases (appreciates) overtime depending on buyer demand. If you plan to resell the property, you can resell it at a higher price than you originally paid.

Financing and Investing Strategies

Knowing how much money to spend on a rental property can often be frustrating for beginner investors. Sure you know that rental properties can be a good investment, but how much money should you actually invest?

In most cases, you are going to need to take out an investment loan to finance the property. These types of loans typically require a downpayment of at least 20%. In addition to the down payment, you will also need to pay closing costs which will run you about 2% to 4% of the loan amount. If you are purchasing a fixer-upper, you are going to want to have some reserves set aside to make the necessary repairs.

Luckily, this isn’t the only way to purchase a rental property. Here are a couple of the most common investing strategies that can help you save on your investment.

Buy as an owner-occupant

While buying owner-occupant with the intent to rent is technically not allowed, there is a way around it. If you buy as an owner-occupant, you will need to live in the property for at least a year before you can turn it into a rental. This can be a good way to save money if you are not in a rush, or if you plan to spend time on renovations anyway.

Buying owner-occupant will allow you to apply for loans with much smaller down payment requirements. You can even take advantage of down payment assistance programs to help you lower the down payments even more, as well as loans for financial repairs.

Another way around buying as an owner occupant is to house hack. House hacking is when you combine buying as an owner occupant with renting out a house. This is easy to do if you purchase a multi-unit property or a larger home. Rent out units or parts of the home while you live in it to help you pay for the mortgage.

Use the BRRRR method

If buying as an owner-occupant isn’t an option, consider the BRRRR method for real estate investing. The BRRRR method stands for buy, rent, refinance, and repeat. When the BRRRR method is done correctly, investors can purchase a distressed property, fix it up, and rent it out for a strong cash flow. This is often with less than 20% down.

Through the cash-out refinance you will easily pay off the existing mortgage using the new loan terms, thereby pocketing the cash difference. You may need to wait a little longer to get the financial benefits but you will essentially get most, if not all, of your money back.

Property Types to Look Out For

Once you know how you plan to pay, it’s time to start looking for properties. Properties come in all shapes and sizes. The property you choose is dependent on your goals as an investor. Be on the lookout for properties below market value, but don’t purchase a property you can’t afford to renovate. Draw up a budget so you know what you can afford.

Single-family homes

Single-family homes are a great way to start out in the property investing world. These types of properties are very easy to finance and are easy to resell. Tenants of single-family homes pay all utilities and tend to take better care of the property. Because these types of tenants tend to stay around longer, you don’t have to worry too much about high turnover rates.

Multi-unit properties

With multi-unit properties, you’ll most likely produce a larger cash flow than you would with a traditional single-family home. However, you’ll have to pay for some of the utilities along with lawn maintenance and other additional costs. While you have the opportunity to rent out to more tenants, you also face a larger turnover rate. Multi-unit properties can range from larger homes broken up into condos-style housing to apartment buildings.

Short Term/Vacation Rentals (AirBnb)

Vacation rentals or AirBnb’s are the latest trend in rental property investing. Depending on the location, many investors are able to make more money renting out their properties short term as a mini hotel than an actual long term living situation, also some people buy AirBnb stocks to even earn more aside from having their properties rented. Do your research on your local market and zoning laws beforehand to make sure this rental property type is allowed.

Property Management Requirements and Options

Part of owning a rental property is managing it as well. However, just because you are a landlord doesn’t mean you have to do all of the work yourself. In fact, managing rental properties often requires less effort than you think.

As a landlord, there is no need to do the manual maintenance work yourself unless you really want to. Most landlords will simply hire out contractors, plumbers, or other professionals to come to the home and resolve any maintenance issues. To protect yourself and your new property, it is also a good idea to invest in landlord insurance. This will cover property damage, lost rental income, and liability protection.

In addition to maintenance issues, you will also be responsible for advertising the property to find tenants, determining rental prices, screening tenants, collecting rent, and overseeing properties. While this is easy to do with a few rentals, it could become overwhelming as you take on more properties. If you find yourself burnt out by property maintenance, consider hiring a property manager.

With a property manager you will be able to have someone else deal with the day-to-day maintenance. This allows you to focus on more important matters when it comes to your rental properties. Your tenant’s experience is key to your investing success. With a good property manager, you shouldn’t have any issues.

Real Estate Investment Trusts Through Mobile Apps

You don’t have to earn a million dollars to invest in real estate. Doing so is now possible without owning physical rental properties through mobile apps for real estate investing.

With a real estate investing app, you can buy and sell shares of Real Estate Investment Trusts (REITs). The company invests the trusts in private loans backed by rental properties, such as condominiums, apartments, stalls, warehouses, commercial buildings, etc.

REIT investors can invest as low as USD$1 in commercial real estate and grow their money without minimums required. Diversify your real estate investment portfolio by choosing a reliable company that offers REIT with a downloadable mobile app. The app is your tool to track your investment and buy and sell shares. Now, real estate investing is made easier at your fingertips.

With REIT investing, you can receive dividends weekly and cash out straight to your bank account if you desire to do so. Hence, you can earn passive income. If you want to earn compounded earnings to grow your investment faster, you can automatically set your account to this option and benefit from increasing rental property values using a trusted real estate investing mobile app.

Conclusion

Keep in mind that rental properties investments are just that, an investment. Property success doesn’t come overnight and requires diligence to acquire a steady cash flow. Take the time to research local market conditions, financing strategies, and maintenance responsibilities. Be patient with the investing process and stay on top of your tenants. The money will start rolling in in no time.

Need some extra guidance finding rental properties and finding the best value in your local market? Get in touch with SimpleShowing. Our team of real estate experts will help you to find rental properties within the budget that will bring you investing success. Plus, with our buyer refund you can save even more money at closing. As an investor, that is not an opportunity you want to miss out on!

What is Duffy Realty Atlanta?

As you may know, the average commission for a traditional real estate agent is around 5% to 6% of a home’s sales price. However, in recent years these commission rates have started to decline as newer real estate models emerge including flat-fee agents, “for sale by owner” platforms and tech-enabled, discount brokerages.

If you live in the Atlanta or metro Atlanta suburbs, you may have heard of DUFFY Realty via a radio ad or through word-of-mouth. This local discount brokerage is a popular option for buyers and sellers looking to save some extra money. Established in 2002, the company has a good track record and relatively positive reputation among home buyers.

While DUFFY Realty certainly offers many great benefits to its customers, there are also some things to consider before using their services. Let’s deep dive into this low commission broker and evaluate its pros and cons.

Who is Duffy Realty?

DUFFY Realty is a real estate brokerage available to buyers and sellers in the Atlanta and metro Atlanta area. As one of Atlanta’s first discount brokerage, Duffy is well-known for its low commission and flat fee listing services.

DUFFY works with a variety of property types and helps both buyers and sellers of all experience levels with their real estate transactions. The brokerage prides itself in its profit and protection strategies. This includes a 1.5% incentive for and a 1% listing price for sellers, among many legal protective services.

Unlike most big-name brokerages like Century 21 or Keller Williams, DUFFY Realty is a discount brokerage. Instead of charging the standard full commission, they will work for less and charge a flat fee. Buyers and sellers may have to do more work themselves in terms of research and planning but will get rewarded in savings for their efforts.

Savings for Home Sellers and Buyers

As advertised, DUFFY Realty home sellers receive a 1% listing commission instead of the typical 6% they would spend with traditional real estate agents. This saves its sellers thousands of dollars in commission upon the sale of their home.

For buyers, DUFFY splits half of their selling commission with you. However, this is under the condition that the buyer will do much of the home searching themselves. In compensation for doing a portion of the realtor’s work, DUFFY rewards buyers with a 1.5% buyer incentive to be used however they please.

What Area does Duffy Realty Serve?

Based out of Alpharetta, GA, DUFFY Realty serves intown Atlanta and the surrounding metro Atlanta cities. While their services and local knowledge might be beneficial to those looking to buy or sell in those areas, those outside their service market, in other states, or relocating in or out of other states are out of luck.

How does Duffy Realty Work?

For home sellers, DUFFY offers strategic marketing plans to get more buyers into homes. This is done by allowing sellers to give an incentive to the buyer and buyer’s agent instead of them overpaying the listing agent.

The brokerage uses the same MLS(s), lockboxes, and showing system as other agents in Atlanta. A few marketing strategies and software processes are what set them apart from others in the area. In addition to listing services, DUFFY also has its own Negotiation and Legal Compliance™ Department to keep sellers safe in their transactions.

Pros & Cons of Duffy Realty

Agent Support

The biggest downside of DUFFY Realty is the lack of agent support. While DUFFY handles the legal side of the transaction, the remainder of the grunt work falls on the buyer or seller. While this is typically expected of most discount brokerages, it is still a downside overall. Even though their business model reduces the need for human interaction, that doesn’t mean it isn’t appreciated when needed.

Of course, DUFFY’s agents are available to answer general questions. Other than that, you are likely on your own for most other parts of the buying and selling process. If you are a first-time buyer/seller or someone who would prefer hands-on guidance throughout the process, it may be beneficial to investigate other brokerages.

Lack of Technology

The residential real estate industry has been gradually making the shift online thanks to online MLS listing sites. In fact, discount brokerages like Duffy wouldn’t be able to offer the savings they do if these listings weren’t available online. However, consumers today are more tech savvy than ever. While DUFFY has made buying and selling a home easier, many of their services are not as up to speed with today’s technology.

For example, to book showings buyers must directly reach out to DUFFY via email or phone call to set an appointment. Other discount brokerages, like SimpleShowing, allow buyers to search listings AND book showings directly from their website without having to chase down an agent to set up an appointment.

Communication

Another concern is DUFFY’s communication and customer service. One common complaint found in several reviews is the inconsistencies in communication between agents, brokerage preferred partners, and customers.

Many customers complained about communication issues when it came to photographers, as well as trying to contact agents regarding specific questions. Their sales process follows a set pattern of pre-written emails containing helpful yet general information. Acquiring additional or more specific details requires reaching out directly which, according to many, may or may not get the timely response.

Alternatives to DUFFY Realty

While DUFFY Realty has a lot of good things to offer, it isn’t for everyone. If you are looking for a discount brokerage that offers a more convenient yet personal approach, consider using SimpleShowing. Like DUFFY, SimpleShowing offers a reduced listing fee and buyer refund in return for the buyer or seller doing a portion of the research themselves. Sellers are charged a low 1% listing fee and buyers are credited with a buyer refund of half of their agent’s commission!

Where SimpleShowing differs is in their modern technology. As a tech-powered brokerage, SimpleShowing utilizes technology to price homes right the first time, communicate effectively, and give you and your agent control with a data-filled portal that is connected to several local MLS sites. Through our website, buyers can search homes and book home showings all in one place – no agent assistance required! We also offer an easy-to-use mobile app where users can book showings anywhere at any time.

In addition to serving the Atlanta and metro Atlanta area, SimpleShowing also serves several Florida metro areas and also parts of Texas. We recently expanded our real estate services to Dallas, Texas last year. Our top-rated real estate agents are trusted advisers with local expertise trained to find the right home for you. Our dedicated agents are well-known for going above and beyond to provide quality customer service and support every step of the way. Not many discount brokerages can say that!

Want to know more about what our customers think about us? Read our Zillow reviews here!

Conclusion

Buying and selling a home is a huge commitment. Whether you choose a traditional realtor or a discount brokerage, do your research to make sure you are making the best choice for you.

DUFFY Realty is a solid choice with a strong local history and comparable savings to other discount brokerages in the area. However, if you are looking to work with a discount brokerage that offers transparency, technology-savvy convenience, and additional realtor guidance, contact SimpleShowing. Our team will quickly connect you with one of our local real estate agents to get you started on your buying or selling journey.

Listing FSBO on Zillow: Is it Worth it?

Listing a home for sale by owner (FSBO) on Zillow has become a popular option among many sellers looking to avoid working with a realtor and save on commission fees. With that being said, listing your home FSBO with Zillow can come with potential legal costs or hidden costs. The process can also be time consuming and have homes sitting on the market for longer periods of times than they would with a traditional listing agent.

Listing FSBO on Zillow, or any real estate site for that matter, means that you as the seller are responsible for every aspect of the selling process. This includes everything from crafting your own listing, taking photos, scheduling showings, fielding offers, negotiating with buyers, handling transaction paperwork and much more.

While the conditions that come with selling FSBO might seem overwhelming, listing on Zillow can help alleviate some of the financial and mental stress. If you are wondering if listing FSBO through Zillow is worth it, here is everything you need to know and consider beforehand.

What is Zillow?

Those who have ever bought or looked into buying a home are probably familiar with the company Zillow. As the nation’s leading online real estate marketplace, Zillow offers a wide array of products and services. Most importantly though, the platform serves as a massive real estate database for millions of properties within the United State.

Unlike similar real estate websites, Zillow is open and available to the public. This includes agents, buyers, sellers, or anybody else who may be interested in real estate. The website offers information on the status of a home’s listing whether it is for sale, for rent, pending sale, or currently off-the-market. Users can view a long list of listing information, look up estimated property values with a Zillow “Zestimate”, and research current market conditions.

How much is it to list FSBO with Zillow?

One of the biggest draws to listing through Zillow is that it is free for sellers to publish their own FSBO listing. Zillow makes most of its money by charging agents money to connect them to buyers and sellers who are not currently working with a real estate agent. Essentially, the site uses your listing as free advertising to draw in motivated agents and make money for themselves. So yes, Zillow is free. The reality is that you and your data are the product. Learn more about listing for free on Zillow or Trulia.

Because your home’s information is out on Zillow and passed along to third-part companies, you will definitely receive plenty of calls. Unfortunately, as an FSBO listing, most of these calls will be from listing agents looking to convince you to list with them. If a listing agent manages to convince you to list with them instead of FSBO, you will obviously lose the savings benefits of selling FSBO. And if you go in alone without an agent and without Zillow, you’ll be marketing your home offline – which is a huge hassle that requires advertisement design, contract management and independently navigating the negotiation process.

Pros and Cons of Listing FSBO with Zillow

While there are certainly benefits to listing your home for sale by owner with Zillow, there are also some reasons it may not be the best idea. Here are a few pros and cons to consider before making any decisions.

Pros:

  • Since Zillow facilitates all FSBO listings, there is no need for sellers to have to use a real estate agent. No real estate agent equals money saved.
  • Listing FSBO on Zillow is completely free for sellers. This means you can list your home and save money doing so.
  • Being the leading real estate site in the nation, sellers will have tons of exposure for their home. When listing FSBO, your listing will also be automatically syndicated to Trulia.com, the second largest real estate site which is also owned by the Zillow Group.

Cons:

  • While sellers will definitely get lots of exposure with Zillow, they will also be competing with thousands of local listings. Most of these listings will be working with experienced agents who will likely have much more real estate and negotiating knowledge. This gives the competing listing the upperhand.
  • Millions of people may browse Zillow every month, but very few are actually seriously looking to buy. An agent would be able to screen inquiries on your behalf, saving you time and finding the right buyers. With Zillow, you will have to do this yourself.
  • Because Zillow uses listings to advertise for buyers agents in its network, it is likely that a buyer is going to find your home. This buyer will most likely be working with a realtor meaning you will be responsible for paying the buyer agent commission.
  • You will face tons of calls from realtors convincing you to list with them instead of FSBO. Zillow knows that FSBO sales rarely work out, In fact, research shows that 70% of FSBO sellers end up listing with an agent. Selling FSBO, you essentially become a lead for Zillow to make a profit from.

Is Listing on Zillow Worth it?

Yes, listing with Zillow is worth it as there is really no harm for the seller. Zillow Group, Zillow’s parent company, owns several other popular real estate sites including Trulia.com. These two large sites alone account for over a third of the entire real estate market. Plus, because listing on Zillow doesn’t cost the seller anything, it is a great opportunity to reach a potentially massive audience of interested buyers.

However, it is important to place emphasis on the word “potential”. Only about 30% of Zillows traffic represents buyers who intend to buy a house. The rest are either agents using the site, or people browsing for entertainment or research purposes. While you have the potential to reach a mass audience, the audience you reach might not be the one you are looking for to sell your home.

Alternative to listing a home FSBO on Zillow

While listing your home FSBO on Zillow is technically free, it also comes with its non-financial costs. In the end, you will likely not find much success in selling if that is your only strategy. That is why it’s always a good idea to consider other alternatives on the market.

For most home sellers, the reason they choose to sell FSBO is to save on realtor fees. In most real estate transactions, sellers are required to pay a 6% sellers commission fee that is split between the buyer and listing agents. Luckily, there are ways to get all the benefits of a full-service agent while saving on high commission fees on both the buyer and seller side. It’s important to learn who pays the buyer agent commission, so that you can be informed when either listing or buying.

Low-commission or discount brokerages are a great middle ground between a listing with a traditional agent and listing through Zillow. When selling with SimpleShowing, sellers pay a reduced 1% listing fee, lowering total commission to 4%! Not only that, but sellers will receive professional photos, MLS listings on dozens of real estate listing sites. Of course, sellers will also have guidance from our expert agents to manage showings, negotiation,  and paperwork.

If you are planning to sell your home soon, there is no harm in claiming your home as FSBO on Zillow as long as you are aware of the process involved. However, if you would like to sell faster and with the help of expert guidance, contact our team at SimpleShowing today. Feel free to use our free Home Valuation or check out our Home Selling Guide.

Cash Offer or Mortgage Loan: Which is Best for Buyers?

Sellers will always love it when their home buyers give cash offers on their house. It makes the whole home selling process simpler, faster, and saves on the overall costs of selling a house. But is a cash offer for a home a good option for the home buyer? Would you rather purchase a home with a mortgage loan instead of cash? Find out which option is best for buyers in the article below.

Why Provide a Cash Offer

Home buyers face a lot of competition trying to purchase their dream home. This is especially true in today’s current market where bidding wars have become the norm. With so many offers to compete with, the home buying process has become a  complicated one. However, if you can offer to pay for cash instead of a traditional mortgage loan, you have a good chance of standing out among many other buyers. By providing a cash offer, buyers have the opportunity to remove much of the added stress of navigating loans, as well as have a higher chance of their offer being accepted.

An all-cash offer takes the lender and the mortgage processing out of the picture in a home buying process. The buyer doesn’t have to go through their financial check to determine their ability to pay the loan; there’s no home appraisal and all other time-consuming processes are reduced.

In this case, the buyer has all the liquid assets and can write a check for the home price. Both the seller and the buyer have the opportunity to close the deal quickly.

Many sellers accept a cash offer for a house at prices lower than the listing price. They trust the odds of closing the sale faster since the cash offer provides a more straightforward process. In many situations the seller might reject a better bid from a buyer that needs financing or may not be willing to change the terms of their contract.

Many homebuyers have gotten a price advantage from their home sellers simply because they’re willing to offer cash. Cash offers also eliminate several buying expenses such as appraisal fees, mortgage fees, listing costs, and more.

How Cash Offers Differ From Mortgage

There’s a huge difference between a buyer who purchases a home through a mortgage and one who pays cash. Here are a few ways these two home buying processes differ.

Contingencies

When buying a home for cash, you won’t need financial contingency since that only applies to a mortgage. You may also not need a sale contingency either. However, you may need an inspection contingency.

Appraisal

The mortgage lender mandates appraisals; hence will not be necessary if you’re buying for cash. Well, some buyers may still want a home appraisal, especially in the case of an investor who wants to get returns.

Closing

The closing process for someone with a cash offer versus a buyer with a mortgage is different. With a cash offer, closing is much simpler. The buyer will need to sign the settlement statement, deed, title and give the check. After that, you’ll get the keys to your new house.

There are no financial issues in the middle that can make the paperwork complicated. The closing costs for cash offers are also lowered because you won’t be paying any lender fees.

Pros of Cash Offer for Home

Cash offers come with many benefits to both the home seller and the home buyer. Here are some benefits of accepting a cash offer on the house.

  • Sellers are more confident with buyers offering cash. Hence you can land a better deal.
  • You can find a house faster as you stand out among many buyers.
  • There is a faster process closing.
  • There is no need to go through any credit check because you’re not dealing with lenders.
  • Cash offers for homes saves money as there are no interest payments.
  • It reduces all the paperwork and the documentation.
  • No hassle that comes with securing a mortgage.
  • It saves you the stress of mortgage payments.
  • You can tap into home equity whenever you need.
  • The home belongs to you right away; hence no fear of losing it.
  • You can get a cash offer on a house discount from your seller.

Cons of Cash offers

Just because you have the means doesn’t mean you should rush to make an offer on a home. In some circumstances, cash offers may not be a good option if you’re buying a home. Here are the drawbacks of a cash offer for a house.

  • It can be costly to purchase a house on a cash offer.
  • It limits your liquidity by tying your wealth to one. It’s not a good option for investors.
  • You forego mortgage-related tax deductions.
  • You’ll lose your financial leverage on the mortgage company.
  • You’ll sacrifice liquidity.
  • Your home can lose its value over time, leading to a poor return on investment.

Why Go for Mortgage

Obtaining financing to buy a home may not seem like a good idea for those who have the cash to buy their dream home. However, this option also comes with benefits that you should consider when planning to buy a home. Sometimes buying a home for cash may limit you when other needs arise in the future.

For instance, your home may need some expensive repairs and renovations. Obtaining a mortgage or home equity loan for such repairs may be challenging, especially if you don’t have a good credit score. You may also want to consider how much the home will be worth at that point to determine your chances of getting approved for financing.

If you plan to sell a home you bought for cash in the future, you may face many problems. You’ll need to make sure you have enough money reserved for the deposit on your new home. As a cash buyer, you should leave yourself liquidity to cover yourself in such circumstances.

On the other hand, getting a mortgage gives you a lot of financial flexibility. You also access various tax-related mortgage benefits. While this should not be your primary drive to taking a mortgage, it will not hurt to take advantage of the few deductions.

Pros of Buying a Home on Mortgage

Buying on a mortgage allows you to earn more elsewhere if you invest instead of making a large purchase.

You have the opportunity to leverage your debt.

You can benefit from the tax deductions that come with a mortgage.

  • Taking an average mortgage loan gives you a chance to improve your credit score.
  • You have the upper hand in liquidation.
  • You can protect your home against risks in case of anything or a drop in value.
  • Most lenders will allow you to pay your mortgage whenever you want.

Cons of Buying a Home on Mortgage

  • You’ll pay substantial interest rates.
  • You’ll have high monthly payments.
  • There are lender costs to pay before closing.
  • Cumbersome closing process and huge closing costs.
  • You’ll face a lot of competition among other similar buyers.
  • Your mortgage application can get declined.
  • You’ll find it hard to sell your home with no equity.
  • Your home acts as collateral, and you can lose it if you don’t pay on time.

Bottom Line: Should You Go for a Cash Offer or Mortgage

Getting a cash offer on a house or mortgage are both excellent options with their advantages and disadvantages. What’s important is for you to understand where you stand financially and make an informed decision.

If you find that offering all-cash payment can make you stand out in the competitive real estate market, then go for it. But don’t forget to consider your financial plans, comfort, and possible risks. If you’re ready to buy your home in cash, don’t forget to reach out to SimpleShowing for help. We’re here to make your home buying easier, whether it’s with a cash offer or a mortgage loan.