Tobias McCosker – How Can Real Estate Trends Help You When Buying Property

First-time real estate buyers prefer to stay away from real estate trends. The process of identifying the right property and finding the cheapest deal can be very complex. In such a scenario, making use of common real estate trends can help a lot.

How Can Real Estate Trends Help You When Buying Property

Tobias McCosker (Toby McCosker) says the average listing period of properties available for sale in a city or region is a very important real estate trend. This period refers to the duration for which property remains listed before the sale is finalized. If the average listing period for a city for four months, then it takes an average of four months or 120 days for the property to be sold after being listed.

Of course, the actual period may differ depending on the property. What should you do if a home has remained unsold for twelve months after being listed? You find to determine the reason for the delay. Is the seller asking for a lot of money? Is something wrong with the property? Is the locality undesirable? Real estate trends can give you clues about the hidden facets and aspects of the property deal.

How Can Real Estate Trends Help You When Buying Property

Another important trend is the number of homes available for sale. More homes mean that you will have more options. Fewer homes mean that you should be prepared to pay more for your property.

Try to combine different factors to understand the real estate market in question. Compare the average listing period with the average number of houses on sale in the city or region to determine whether the market is operating in favor of the buyer or the seller.

What should you conclude if the average listing period and the average number of homes on sale are significantly higher than the State or National average? You can arrive at the following conclusions

a. There are a lot of sellers in the market

b. There is a long waiting period for the finalization of the sale

c. It is a buyer-friendly market

d. One should consider multiple options because a cheaper and better deal may be around the corner.

How Can Real Estate Trends Help You When Buying Property

However, you should not be in a hurry to jump to favorable conclusions. Many first-timers interpret data incorrectly and end up missing good deals. Let us take the scenario stated above. Now, let us add consider an additional factor- interest rates. What if the average interest rate for a 30-year fixed mortgage is higher than the national average?

This additional factor will change everything. Under normal circumstances, low demand and high supply of real estate will pull down interest rates. If interest rates are high, then you are probably looking at a market where ordinary rules do not apply. The listing period may be higher because buyers are probably finding it difficult to get affordable loans.

According to Tobias McCosker (Toby McCosker), It is important to understand the limitations of real estate trends. Do not expect trends to locate the perfect deal. Rather, use trends to understand the market properly so that you are in a position to negotiate and bargain sensibly. You also have the option of going in for rented property if you find that all the trends are favoring the sellers.

Toby McCosker | 6 Keys Real Estate Selling Agents Must Use!

Toby McCosker – Homeowners, hoping to sell their homes, and potential buyers, who want to buy, the home, of their dreams, and what many consider, their part of the American Dream, need, and deserve the finest possible, service, and representation, from their real estate agent! Licensed agents only make an income, when/ if, they bring about a meeting – of – the – minds, between buyer and seller, and, while, some, casual observers believe, this is basic and obvious, it, actually, generally, requires a combination of skills, and activities, in a well-considered way, and a degree of professionalism, and valuable expertise. With, that in mind, this article by Toby McCosker will attempt to, briefly, consider, examine, review, and discuss, 6 basic keys, effective real estate agents. Must use effectively, and take advantage of.Pricing strategy: Your buyer, nearly always, wants to pay the lowest, possible, price, with the best terms, and, with the least amount of hassle! What price, should one offer/ recommend, and, why? Should the asking/ listing price, be offered, a higher offer, or a somewhat, lower one? Every real estate market is different in some ways, such as: local factors; supply and demand (inventory); time – on – market; competition; specific property’s characteristics and condition, etc. Agent and client must work, as a team, and proceed, on the same – page, to maximize their strategic position!

Toby McCosker

Competitive Market Analysis (CMA): Most sellers realize they should base their listing price, on the results of a professionally, designed, Competitive Market Analysis, or CMA, but, too few buyers, understand, how much, it might benefit them, to proceed, in a similar way. Unless/ until, buyers understand, and recognize, the essential, value, of proceeding, this way, their results often suffer!

Open – houses: When, a listing agent, is, also the selling one, he must discuss, with his client, whether, using an Open House, might be beneficial, in terms of getting the specific house, sold! This, also, depends, largely, on, the price range, specific region/ area, and a variety of other relevant factors!

Showings: To a degree, getting a house sold, is directly related to the number of qualified, quality showings, etc. There is, both, an art and a science, to effectively, showing, marketing, and selling a house!

Toby McCosker
Toby McCosker

Marketing/ advertising: It’s important to proceed, throughout the process, with a well-considered, thoroughly explained, Marketing Plan, which explains advertising, and the reasons, a specific approach, is recommended.

Teamwork: Best results come, when superb teamwork, is established, and used, from the onset! Homeowners must understand their responsibilities, and the buyers, you represent, must know the best way, for them, to get the most desirable results!

These, briefly, are 6 key steps by Toby McCosker, when effectively, and professionally, used, to get the best, possible results! Since, for most people, their house represents their single – biggest, financial asset, doesn’t that make sense?

Toby McCosker – How to Find a Best Real Estate Agent for My Property Needs

Toby McCosker – Finding the best real estate agent to meet your property needs is a rigorous exercise that involves considerable time and effort. However, technology has made it easier to assess potential and performance. Cut through the hype of the community of agents who tempt you with irresistible offers of best deals that ultimately turn out to be raw. Toby McCosker says follow these important guidelines to get the right solutions in a smooth and transparent manner.

Toby McCosker

1. Research

Research potential agents instead of looking at property listings. There are many different types to choose from. Get an insight into how they conduct deals. Research how long the agent has been operating in the real estate business. You will need one who demonstrates substantial knowledge of the particular area and shows his ‘market presence’ in the budget range you have in mind.

2. Look local

The agent you pick is likely to represent you. So it is essential that the agent you select knows the properties for sale or rent including the ones that have been rented out or sold recently. An agent who knows the local market – like the back of his hand – can assess better and provide similar property options to buy, sell, or rent. They are better networked and can close deals faster than expected.

Toby McCosker

3. Market knowledge

The agent should be able to give you a proper snapshot of the market in your locality as well as the surrounding areas. They should know about schools, transport facilities, hospitals, banks, shopping complexes, entertainment hubs, and demographics. The kinds of buyers looking for homes in a particular area should be available in their updates.

4. Comfort matters

Do you feel comfortable with the agent? Toby McCosker says you need to be honest with an agent during the entire buying or selling process. Hence you need to make sure you are comfortable with the agent and can have open and honest communications. You should know whether the agent is reliable and transparent just like you want him to be. After all, it is a financial matter and you need to depend on him for several significant matters apart from just finding the right property.

Toby McCosker

5. Select agent with the right credentials

Like other professionals, real estate agents have also come under the regulatory network. Always opt for certified agents who maintain ethical standards and stay away from all kinds of malpractices in connivance with realtors.

6. Check results

Look at the agent’s performance – check his track record. If you have satisfied clients recommending his services and rating him high, then you should definitely look at what he has sold recently and probably shortlist his name. Never shy away from seeking hard facts, sale prices, time on the market, and any other relevant query you have in mind before hiring.

Toby McCosker

7. Look at current listings

According to Toby McCosker check out an agent’s listings online. Before doing so, look for an online platform where the prime focus is on the agent, not the property. Such a portal should provide ample information about the agents and the property market scenario in general. Most buyers start their search on the internet. You need an agent who uses this tool effectively. Examine how closely the agent’s listings mirror the property you wish to buy, sell, or rent. Are they in the same area? Is the price range similar? Does the agent have substantial listings to suggest a healthy business?

Toby McCosker – Check These things Before Buying A Property

Toby McCosker

Toby McCosker – When you are opting to buy your dream home or intend to invest in a property, it is a very crucial decision you are taking. Purchasing a property takes a lot of money, and you would certainly want your money to go in the right place. However, just thinking of buying a property is not enough. You need to plan a lot of things before that and also have to scrutinize a lot of things while purchasing one. Right from the selection of the home to making the transaction of buying it has plenty of processes to go through. There is some ‘not to miss out’ checklist as well that you need to do before and while buying any property. To know what they are, have a look at the list given below by Tobias McCosker (Toby McCosker).

Ascertain your budget and property price

The first and foremost thing you have to do while buying a property is to fix your budget. It will be convenient for you to shortlist a house or a flat depending on how much you are going to spend on it. You can select the options on the property prices that are offered by various builders and developers by comparing their quotations. It can be done through online postings, newspapers, and also by any broker in your area.

Toby McCosker

Assess the flat’s carpet area

Don’t just go for the area mentioned in the advertisement and have a detailed look at the carpet area of the flat. The carpet area is the usable area of the flat. Most of the builders mingle it up with the super built-up area of the building which includes shafts, staircase, elevator ducts, wall thickness, etc. The main carpet area is 30 percent lesser than the super built-up area, which is calculated for the price of the property. In many cases, builders also charge for the space of a common area that is shared by two occupants on the same floor.

Land record

According to Tobias McCosker (Toby McCosker), This is the most critical thing that you need to meticulously scrutinize before making the deal. The land record describes many things such as ownership of the land, registration of the land, and all dues that are cleared about the land. The title deed must be checked in particular before you seal the deal of the flat. In case you see any anomaly in the title deed of the land, back away from the deal.

Toby McCosker

The legality of the property

You have to check that plot on which the building is constructed is legal, and it got all the necessary NOCs from the municipality and other boards such as water supply, sewage, and electricity. In case you are taking a home loan for buying the house, then the bank will itself do all the verification before passing the loan.

Possession period

The bane of every home buyer is the possession period of the flat. It has become a trend for the builders to handover the flats to the buyers delayed up to 6 months to a year from the promised date of possession. Usually, all builders ask for a six months grace period for giving possession, but there should be a valid reason for that.

Location of the property

When buying the flat, you should have a look around the area where you are going to reside in the future. This is a thing that should be carefully analyzed before the purchase of the flat. The area should be calm, peaceful, well connected, and have all the necessary amenities that will come hand for your daily use.

Agreement

Tobias McCosker says when you enter into a purchase agreement with the builder, you can book your flat with a token amount against which an allotment letter is issued in your name. Later on, the main agreement is signed by both builder and buyer for the rest of the amount. This agreement should be carefully read and understood in detail before being signed. If there are any doubts about it, raise the points instantly.

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