How Long Will It Typically Take to Sell Your Home?

Selling a home typically isn’t easy, and it can take well over a month for your home to sell, once it’s listed. Local buyers and investors might also be deterred or encouraged by factors as diverse as temperature and weather conditions, your home’s appearance and the location where it is situated.

 

On average, according to several of the most knowledgeable and reputable real estate companies and agencies that have expressed an opinion, the median home requires an average of 65 days to sell. That number can differ depending on where you are, and of course, it can take longer or less for your home to sell under specific circumstances and depending on its own specific qualities.

 

A beautiful home that is located in a safe and favorable area, can sell in less than 40 days. On the other hand, if you’re in a bad neighborhood and your house needs a lot of repairs, as well as a new roof and new siding, then it might not even sell after 80 days. As real estate agents in Texas we buy houses in El Paso that are appealing to our buyers at the time.

 

These are, of course, arbitrary numbers, and even the best statistics experts can’t give you an exact prediction. However, the estimate of 65 days has proven to be fairly accurate in most cases.

 

If you want to find out all the details of how long it’ll take to sell your own home, contact your local real estate agent today, and have them evaluate your home and determine how long it will take to sell, depending on the specifics of the local market.

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Understanding the Need for Reverse Mortgages: What They Are and Why You Should Get One

Reverse mortgages can be extremely advantageous when you’re in the later years of your life. With a reverse mortgage, you can gain access to a lot of funds that you normally couldn’t get through a conventional loan. Borrowing against the equity of your home, you can make the payments for your reverse mortgage as customized as you need them to be, and distribute all your funds to take care of all your most pressing expenses.

 

Getting a reverse mortgage is a good idea if you’re past 62 and you’ve already paid off most of the amount of your mortgage loan on your existing home. Once your existing mortgage is partially or completely paid, the equity of your house is at its highest. As a result, you can qualify for a reverse mortgage loan that provides you with funds you don’t have to pay back during your lifetime, and it will keep you from having to say sell my house fast to El Paso agents looking to buy.

 

As long as you pay all your taxes and expenses as you usually do, you won’t even have to pay a dime on your reverse mortgage. The new mortgage can provide you with vital funds you may need to cover medical expenses, pay for services that your alimony and retirement funds can’t support, an avoid getting caught up in debts that you’d have a hard time paying off.

Original Post right here: Understanding the Need for Reverse Mortgages: What They Are and Why You Should Get One

How to Make Room Remodeling Work for You: 3 Ideas You Will Love

While there is a lot of talk nowadays about bathroom and kitchen remodeling, most of our time spent at home revolves around the bedroom or living area. As realtors, when we buy houses in El Paso TX we see the areas that owners enjoy spending their time. Depending on how you rearrange your new home, even buying a larger house can be a challenge, if you don’t have a few useful, practical and aesthetically intriguing remodeling ideas at hand that can transform your rooms entirely.

1. The Conversation Pit

Although this isn’t something you can do just anywhere, lowering your living room to create a conversation pit can be an exciting and challenging idea for remodeling. You can set a table in the center, and surround it with couches, pillows and chairs, or even set up a sound system, so you and your friends can meet up for coffee and cakes just like in a real classy cafe.

2. Under the Stairs

The space under your stairs can be used for a myriad of different applications. You can create a cozy book nook, a home for your dog, a hidden play area for children, storage compartments for shoes other accessories, or even a small second cellar for wines, collectibles and anything else you want to stash away.

3. Hidden Rooms

If you want to have an exciting home, a hidden room is just about the ultimate of what you can use to spice up your living space. Consider building a wall that divides up one of your larger living areas, and add a camouflaged door. You can make it look like anything from a bookcase to a mirror or even a large painting.

First Posted right here: How to Make Room Remodeling Work for You: 3 Ideas You Will Love

Second Mortgage Explained: What Is It and What Can You Do with It?

It’s important to get as informed as possible about your options regarding your mortgage and how a second mortgage might or might not help you. Second mortgages aren’t for everyone, but they can sure come in handy on some occasions. I wanted to keep the option open to sell my house fast in the El Paso area, so it was important to find out all the details of a second mortgage prior to getting one.

A second mortgage is essentially a second loan you get that is secured by your home. It works similarly to a first mortgage, so you get a set amount as a single payout, and then you have to pay off your loan each month. The interest rates tend to be higher for a second mortgage, since you already had a mortgage to begin with and the risk taken by the lender when granting your loan is slightly higher.

Your risks are similar to when you got your first mortgage. Failure to meet payments on time can result in foreclosure, and you might lose your home.

On the other hand, the potential benefits associated with a second mortgage can be impressive. A second mortgage is a great idea if you want to avoid PMI (Private Mortgage Insurance) or if you’d like to cash out on some of the equity of your home. Home improvements and paying off debts are two other reasons why people might consider this type of mortgage loan.

Originally Posted right here: Second Mortgage Explained: What Is It and What Can You Do with It?