Posted on Feb.20th, 2015
One of the big acquisitions in 2014 was when Trulia was purchased by Zillow at $3.5 billion. The combined forces of the 2 companies now provides a source regarding the real estate industry, Zillow published “The New Rules of Real Estate”. The following are the 13 that were found both useful and entertaining:
1. Get a house located near Starbucks
Most homes located near Starbucks are more costly than the average price. However, it is seen to appreciate much faster than any average home. This only means that when Starbucks is coming in a neighborhood, homes in that place will be the next target of homebuyers.
2.Don’t choose the worst property in a great neighborhood
Choose not to buy the worst home in a neighborhood considered the best thing to do because your chosen home can be overlooked by homebuyers when you decide on selling it in the future.
3. You can find an affordable house within a good school district
Though it is given that neighborhoods within a great school district may cost more, doing your homework will help you find affordable homes within this district.
4. Foreclosed home are not really offering good value
This is true as Zillow found out that foreclosed homes are usually smaller than homes surrounding it and banks don’t require the buyers to conduct home inspections.
5. Don’t describe your home as unique when selling it.
What word or language you use for describing your home is important when selling it. When homes are described honestly and completely, they can easily sell at higher prices. However, those described as unique may sell 30% or even 50% less than what is expected.
6. Increase the value of your home with remodeling your bathroom
Doing a bit of remodeling in your home especially in your bathroom is seen and proven to increase its value as what experts would say.
7. Sell your home at the right price
Basically, homes sold fairly or near its real market value are more in-demand than the overpriced ones as they can easily suit the budget of homebuyers. Also, it is seen to be sold 4% higher than those with higher Boston house prices.
8. Late March is the best listing time for your home
Homebuyers are seen to start calling a Boston real estate agent by May till June. This makes it a reason for you to list your home by March or in its latter parts.
9. Homebuyers may get really superstitious
Massachusetts real estate can easily be affected with superstitious beliefs as there are people who would not buy listed homes that are against their beliefs.
10. Homes in streets with cool names will not meet your budget
Homes sold in streets having cool names are likely sold 46% to 53% higher than its real value.
11. Emerging market emigrants are not overrunning Back Bay
According to Zillow’s data, Brits and Canadians are the real ones flocking in buying a house in Boston.
12. Unlike renters, homeowners don’t make much action
Based from Zillow data, there is one fun truth behind this, renters’ percentage that are engaged with sexual activities once every week may be greater or even equal to the percentage of homeowners knocking boots.
13. Homeownership is not the only way of climbing out of low class society
Homeowners may tend to grab high Boston condo prices just to get out of the low class society. However, this thing should not be taken by people wanting to propel up the socioeconomic ladder.