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How to Sell a House Located in a Bad Neighborhood?

Buyers can get very particular when choosing their first or next home. They not only look at the home’s features and amenities, but they also pay close attention to its location, surroundings, crime rates, access to public transportation, the neighborhood, etc. Because of all these factors that can influence a buyer’s decision, sellers have to step up their game. Selling a piece of property located in a bad neighborhood may be difficult. Nosy neighbors, loud railroads and highways, high crime rates, among others can easily deter a buyer from showing interest in the home you are selling. However, if you know the right techniques, you can still show your property in the best light and increase your chances of making a sale. Here are some tips to effectively sell a house located in a bad neighborhood. 1. Price Right Your pricing can make or break your chances of being able to sell your home. For properties located in less than desirable neighborhoods, the target market comprises buyers looking for starter homes. These buyers have a tight budget — and your listing must be able to fit that and appeal to those making their first entry into the real estate market. Many buyers with tight budgets expect that the homes they buy at a low price will require repairs. You can step up your competitive advantage and conduct these repairs yourself, but make sure you’re not going to spend more than you’ll be earning. 2. Boost Your Curb Appeal There are some unique situations where the features of a home can outweigh all the negativities of the surrounding neighborhood. Because the property you’re looking to sell is in a bad location, you should make the home itself the main selling point. Boost your curb appeal and control how much of the neighborhood is seen and felt from inside the home. You can do this by building a fence or planting trees around the property line for more isolation, improving your landscape, installing outdoor lighting and security features, etc. 3. Highlight the Home’s Best Features Presenting your home in the best light is everything when you don’t have a neighborhood to complement your property. Show off your amenities, landscape, and other interior design features that can make your home more attractive to buyers. In an effort to beautify your home, you might be keen on conducting a full-blown renovation. But be careful of spending too much on big renovations as this can offset your earnings. Instead, make small improvements like changing kitchen and bathroom fixtures, updating the closets, fixing scraped paint, etc. 4. Offer Incentives Because your market comprises first-time homebuyers with tight budgets, offering incentives can help your listing become more appealing. Consider taking the initiative to provide owner-financing. By doing so, you pay for the cost of your home and get payments from your buyer in arrears. In essence, you are becoming their landlord. Although it means you won’t get the money from the sale right away, you are increasing your chances of getting more offers. Other incentives that you can provide to make potential buyers more interested include covering the closing costs and giving credits towards repairs. 5. Sell to a Real Estate Investor Unlike home buyers, real estate investors will not be living in the home after they buy it. But if they see potential in your home, they will purchase it even without the need to conduct renovations and repairs on your end. They can purchase your property as-is and close the sale quickly, saving you from the hassle and time spent renovating and hosting open houses. Eliminate the Hassle. Sell Your Home to Skye Homes Skye Homes is a real estate investor that purchases homes across the 50 states. We buy your property directly from you, which means you don’t have to pay for the added costs and commissions for a middle man. We are interested in all sorts of properties and purchase them as-is without requiring repairs or renovations. You don’t even need to move out immediately after closing — we adjust to your schedule and allow you to choose your closing date. By selling your house to Skye Homes, you save more time and money compared to posting your property on listing sites, working with a realtor, and waiting for an offer. Even if your house is located in a bad neighborhood, we may see potential in it that typical homebuyers don’t. If you want to explore your options with Skye Homes, tell us about your property and we’ll give you an all-cash offer as soon as possible.

June 24, 2021 No Comments

6 Hidden Dangers of DIY Electrical Wiring

Especially during the pandemic, DIY work around the house has become more common. People are undertaking their own renovation efforts, upgrading their landscape from scratch, and even doing their own electrical work. While some DIY home improvement techniques are easy and even encouraged, others are too dangerous and must be left to professionals. Doing your own electrical work is one example. Sure, you can study how to do your own electrical wiring through the hundreds of video tutorials available online. But this is a dangerous and complicated job that doing yourself can do more harm than good. DIY electrical wiring can pose the following risks: 1. Fire Electrical problems are among the most common causes of fires, starting over 51,000 fires a year and resulting in 500 deaths and over $1.3 billion in property damage. Because electrical wiring is so complex, even the slightest mistake can cause the circuit to overheat, blow, and start a fire. Sometimes, the fire risk is not apparent until several hours or days after your DIY project. For example, using the wrong wiring gauge on your air conditioning unit will cause the flow of current to melt through your insulation when the appliance is turned on. Risking a faulty connection or overloaded circuit is not worth the damage they can cause. DIY electrical work does not only harm you but also your family. 2. Electrocution Another risk involved in DIY electrical work is electrocution. Simply touching the wrong wires together, making the mistake of keeping the current on, etc. can be the culprits to a fatal electrical shock. Even a small 14 milliamp shock can result in death or serious injury. In some cases, you can even walk away from a finished DIY electrical wiring job unscathed, but still risk electrical shock when something goes wrong, such as in instances of reverse polarity. While you can recover from hitting your hand with a hammer or accidentally cutting yourself with the saw blade, you can’t say the same about an electric shock. This deadly accident takes the lives of more than 60 people a year — and your safety and life are not worth saving a few extra dollars with DIY electrical work. 3. Inspection and Permit Issues Because electrical wiring is extremely dangerous and poses the most risk to people’s safety in their homes, local authorities have created rules and regulations that govern them. Electrical inspections are conducted regularly to ensure that your home’s electrical work meets the requirements of building codes and permits. If your DIY electrical work does not pass inspection, it will be difficult for you to sell your house. No buyer would risk their safety on poorly done electrical systems and repairing or replacing them will cost you a lot of money that offsets your sale. 4. Extensive Repairs Even if a DIY electrical job looks and seems successful, wiring that is not properly done can fail over time. When this happens, it will be beyond your capacity to repair and will cost you more than what you would have spent if you hired a professional from the get-go. 5. Wrong Products Used Repairing or replacing wires, switches, and outlets sounds and looks easy. But there are a lot of different types of these electrical products. Using the wrong ones that do not match the wiring already in place in your home can pose safety risks, such as electrocution and worse, fires. 6. Kill Appliances Doing an electrical job on your own also poses the risk of killing the appliances that you plug into your home’s outlets. When your wires short circuit, common home appliances and tools that require power may not be able to withstand the strong current of energy. For you, this means the added cost of having to replace your destroyed appliances. Leave the Electrical Work to the Professionals The most common reason people DIY their electrical work is because they think it can save them money. However, if you really think about it, it actually costs more than hiring a professional considering all the risks and dangers. Complicated work like this is best left to the hands of skilled contractors who have the full knowledge and experience working on a vast range of electrical problems. They know exactly how to address electrical issues and conduct the best ways to fix them without risking your safety. Further, most contractors are insured in case of future problems with the electrical work they have performed. Risking your life is not worth the few savings you get by doing your electrical work on your own. Choose your safety and call the professionals to handle it.

June 24, 2021 No Comments

How To Sell Your House With Code Violations?

Houses are covered by plenty of residential building codes. From requirements in fence height to ventilation, your old house may be violating one or two building codes set forth by your local authorities. And let’s face it. Keeping up with residential building codes can get overwhelming and costly. Sometimes, the best solution is to sell the property. This can be more difficult than selling a perfectly compliant house — but it’s not impossible. 5 Tips When Selling a House With Code Violations If you are trying to sell a house with code violations, keeping these tips and best practices in mind can help you find a buyer and make a sale! Set Your Expectations Every seller is after getting the best price for their old houses, but don’t let yourself get blinded by all those high selling prices on listing sites. Because your house is old and has a couple of code violations, you need to set your expectations straight and understand that you may not be able to get the highest value for your property. If you want to put the house on the market with a high asking price, you can opt to have some damages repaired and remedy the code violations. However, the expenses for this will come from your own pocket. It might be a good investment, however, considering that you can receive a higher offer for your newly repaired property. Stage the House Your buyers are going to judge their next potential home very seriously, so you want to make the property presentable. Even with damages and code violations, there are things you can do to make the house look worthy of a sale. Some things you can do to make the property look more appealing are the following: Highlight the best features of the house and leverage them as your main selling point. Clean up both the interior and exterior Mow the lawn and get rid of weeds and debris Move furniture around and position them in the best manner No matter how damaged the property is, there are things you can do to make it look more appealing to your potential buyers. Your goal is to show your buyers that the house can really be something after the repairs or renovations have been made. Find the Right Buyer Let’s face it. Not everyone will want to buy a damaged house with code violations. But there are a select number of people who don’t look for perfect houses and instead want something that they can build or repair to make their own. You need to find the right buyer — someone who is up for handling the repairs and is willing to pay a fair price for your piece of property. Finding the right audience to market your listing to will help you make a sale easier and much faster than just putting it in a market where it has to compete with perfectly good houses. Disclose All Damages and Issues Some sellers make the big mistake of hiding certain issues and violations when selling their properties. But you are required by law to make accurate and complete disclosures about the condition of the home you are selling. Not doing so will expose you to liability and even lawsuits. Be transparent with your potential buyers and let them know all the damages present, the repairs that you made, documentation of all types of work done on the property, etc. Inspect the house and make a comprehensive list of everything your buyer should know so you don’t miss anything. Being honest about damages and issues will not only protect you from future headaches but also makes you confident that you are selling legally and ethically. You Don’t Need to Settle for Less You might have the wrong impression that your house, just because it has code violations, is now worth nothing. But that’s not true! You can still get a fair value for the current condition of the property. It’s important that you know how much your home is worth so that you can sell it at a price that is fair to both you and your potential buyers. After the renovations and repairs have been made, the house you are selling may have a lot of potential. So don’t give it away and settle for less just yet. Skye Homes Can Help You Sell Your House With Code Violations Selling a house with code violations is no doubt a difficult endeavor. We’re here so that you don’t have to go through the hassle. Skye Homes is an independent and direct buyer of houses in the Bay Area. We purchase your home as-is, without the need for you to do any repairs or renovations. We can offer you a no-obligation, all-cash offer within a few days and if you accept, we can close the sale. Turn your house with code violations into liquidated assets. Get started with us today by requesting an offer or scheduling a free home analysis.

May 25, 2021 No Comments

Selling a House With Foundation Issues

Selling a house is not a walk in the park. And it becomes even more difficult if the house in question is old and structural issues are apparent. Not many buyers would want to purchase a house with foundation issues to become their next home. But that doesn’t mean it’s impossible to sell your old house. A house with foundation issues can still be worth putting into the real estate market. But to increase your chances of finding a buyer, you need to undertake the extra effort of identifying the structural issues, addressing them, and ultimately, being able to sell your old house. What Causes Foundation Issues? Structural and foundation issues aren’t always apparent at first glance. Sometimes, you don’t even know you have structural problems until it’s too late. In order to determine if a house has foundation issues, it’s worth looking at possible causes. There are three different forms of foundation issues, including cracking, shifting, and sloping. Each of these can be attributed to its own sets of triggers or causes. If any of the following are true in the house you’re looking to sell, you may have foundation issues that you need to address or disclose to potential buyers: The area is prone to high levels of dryness or humidity The house was poorly constructed The house is old and therefore prone to natural degradation The house has withstood severe storms and weather events The soil is of poor quality The house has poor drainage systems These situations can greatly contribute to the more rapid sloping, cracking, or shifting of the house’s foundation. If the home you are looking to sell has been exposed to any of the above, you should take a step back and identify foundation issues before putting it on the market. How to Identify Foundation Issues While foundation issues can be difficult to pinpoint, there are certain tell-tale signs that you may be facing a potential structural problem. Paying attention to even the smallest details can help you identify foundation sloping, shifting, or cracking. Cracked Walls or Leaning Chimney Foundation damages can be identified through leaning or cracked walls. Make an inspection and spot for curves, bulges, or cracks in the middle, top, bottom, as well as the outer wood or brick of your exteriors. If the walls are leaning, it’s a sign of a bigger, more serious foundational issue that needs to be addressed urgently. A leaning chimney is also a cause for alarm, signifying that your foundation is not strong enough to hold the weight of the bricks or stone that make up your chimney. This can cause the entire wall to fall if unaddressed immediately. Cracks in Doors, Walls, or Windows Cracks on smaller-scale locations like doors and windows are easy to ignore, but they may point to serious structural issues when neglected for too long. Even movable structures can fall victim to damage to the house’s structural integrity. Cracks on doors, walls, or windows can be signs of the shifting form of foundation damage. As the foundation shifts, so do the movable structures that it’s supposed to keep in place. What’s worse is that these cracks allow moisture and humidity to enter, which gives rise to mold problems that can further affect the structure of the house. If you notice any of these in the house, you need to get it checked for foundational shifts immediately: Cracks on the ceiling, especially along the crown molding that connects it to the walls Cracks on movable structures, such as doors and windows Bubbling of the wallpaper Cracking of paint on the walls Functionality Issues with Drawers, Doors, or Windows If you’ve ever been frustrated because drawers, doors, and windows won’t stay open or closed, it can be more than just a problem with the movable structure itself. In stark contrast, it can be a sign that the house’s foundation is shifting and is affecting the functionality of your movable structures. Sloping Floors Floors that slope down or push up in some areas are also signs of foundational issues — not to mention that they are hazards to the people living in the house. Although early signs of sloping floors may not be noticeable, you can spot them in simple issues like wobbly tables and furniture or tripping over areas because of the height variance. Should You Fix Your House with Foundation Issues Before Selling? If you have identified foundational issues in the house, the question now is whether or not you have to fix them. Of course, the answer depends on your unique situation. However, you should know that there are buyers who are willing to purchase homes with foundation issues and take on the repairs and renovation efforts themselves. But of course, this would mean disclosing the structural issues and selling your house at a lower value. If you do decide to repair the foundation of the house, you will be shouldering all the expenses for it. Homeowners’ insurance policies will more than likely refuse to accept claims for repairs. On average, it will cost you around $7,000 to $15,000 to completely repair the house’s foundation. Eliminate the Hassle With Skye Homes While repairing the house before selling it can help you find buyers, a lot of homeowners don’t have the resources or time to get it done. Skye Homes can help in these situations. We are independent home buyers who can purchase your house with foundational issues directly from you — no middlemen, no commissions, and no hidden fees. We can provide you with an all-cash offer and purchase your house as-is so that you don’t have to take on the burden of repairing its foundation. Schedule a home analysis or request an offer to get started.

May 25, 2021 No Comments

What Upgrades Increase Home Value? 19 High-ROI Improvements Buyers Love

What you do with your home has a direct impact on its value. Damage something and the value decreases, but improve something and the value can skyrocket, depending on the improvements you made. Especially in today’s day and age, renovation projects are in demand and everyone is looking to revamp their homes to achieve their desired aesthetic and functions. With that, it’s also an opportunity for sellers to make upgrades and improvements on their properties to increase their value and get more interested buyers. The key is in knowing what improvements to make. Here are 19 upgrades and improvements that home buyers will love and help your property’s value skyrocket. 1. Add Energy-Efficient Appliances The appliances that come with the property matter just as much as how the house looks in its entirety. You’ll want to include modern appliances like dishwashers, dryers, washing machines, and refrigerators with the sale. More so, make sure that they are energy-efficient, as this is a primary factor homebuyers consider. 2. Choose a Neutral Paint Color Bold and striking wallpapers are out, and minimalist, neutral paint colors are in. Having a neutral exterior is like giving your potential buyers a blank slate to work with. It allows them to better imagine how to fit their belongings in the space and determine what improvements they want to make in their future home. Repaint your interiors with subtle colors like white, beige, hints of blue, or brown undertones. 3. Choose Steel for the Entry Door You want to impress your potential buyers before they even walk into the house. And right now, buyers want to see steel on the entry doors. Statistics show that steel doors help recover 61% to 91% at resale. This can be owing to the benefits of steel, which include being low maintenance, energy-efficient, and has the capacity to block the outdoor cold. 4. Create a Walk-In Shower 77% of home buyers consider both a shower and tub as essential in a master bathroom. However, a substantial number of them also want to have a separate walk-in shower with the tub located in another area. Walk-in showers are the norm, and although it can cost you between $800 to $2,500, the value it can bring to your property makes the expense worth it. 5. Decorate the Exterior With Stone Veneer Stone veneer exteriors are luxurious-looking additions that will make the house look inviting from the outside, hence attracting potential buyers. While installing stone veneers can be expensive, 96% of the cost can be recovered after the sale. 6. Install a Smart Thermostat Home technologies have changed the game for homebuyers, and one of the smart home appliances they want to see is a programmable thermostat. This is owing to its ability to help homeowners save more energy and reduce the cost of electricity bills. 7. Open Up the Space Open spaces are the trend. Knocking out the walls that separate the kitchen, dining, and living room is bound to make the house look more appealing to potential buyers. It helps them imagine how they want to decorate the room and envision their life in the house. Plus, it also allows natural light to enter, adding visual appeal to your interiors. 8. Opt for Minor Remodeling Instead of Upscale Remodeling You might be tempted to conduct a full-blown renovation in order to raise the value of your property as much as possible. But if you crunch the numbers, you’ll realize that minor remodeling efforts pay off more than upscale ones. Take a look at these findings: Kitchen remodeling: minor remodeling recoups 77.6% of the spend at resale while upscale remodeling only recovers 58.6% of costs. Bathroom remodeling: minor changes recoup 64% of the costs at resale while upscale overhauls only recover 56%. Learn to limit your efforts to small changes, like replacing cabinet fronts, upgrading small fixtures, refinishing the flooring, etc. 9. Refinish Hardwood Flooring More and more homeowners are having their floorings replaced with hardwood. The 2019 Remodeling Impact Report by the National Association of Realtors revealed that refinished hardwood flooring can recoup 100% of the cost after the sale. New wood flooring, on the other hand, can recover 106% of the spend. 10. Renovate the Basement More and more people, especially high-income owners, are becoming more particular about the basement. Renovating the basement as you would the entire house adds a few extra square footage to your finished property. While an unfinished basement can add value up to $15,000 to $20,000, that value more than doubles with a renovated and finished basement. 11. Replace Kitchen and Bathroom Fixtures Even the smallest improvements can make a world of difference. Handles, knobs, faucets, and other small fixtures can contribute a lot to the look of the kitchen and bathroom. Upgrading these to trending materials like stainless steel, brushed nickel, or bronze can make the house look modern and leave a big impact on potential buyers. 12. Replace the HVAC Installed technologies like HVACs are of primary concern to homebuyers. Most buyers ask about the HVAC systems, the brand, when it was installed, and any repairs made on it. Having a newly bought and installed HVAC is a good USP to boast about and allows you to recover 85% of its cost at resale. 13. Replace Old Toilets New toilets have technologies and features that old toilets lack. And in these modern times, those matter to home buyers. Upgrade your toilets to low-flow fixtures that use up less water but have a more powerful flush. 14. Replace the Roof The roof is often neglected when it comes to home improvement efforts. And frankly, not a lot of homebuyers are up for the challenge of redoing the roof themselves. Replacing your roof can recover 107% of the costs at resale, not to mention that a brand-new roof is going to attract more potential buyers. 15. Replace the Siding No corner must be left unchecked! Inspect the house’s siding and make sure that it’s in

May 25, 2021 No Comments

Avoid Running into Mortgage Trouble as a Landlord

Property Sales

How To Avoid Running Into Mortgage Trouble As A Landlord

You may think it’s only the tenant who has a hard time making the payment, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid facing difficulty with your mortgage each month. Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time. Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due. Look for long-term tenants. Don’t assume that quality tenants will necessarily be long-term ones. Some good renters may know they can’t stay over a few months at most. They may be students or working a temporary job. They may just be living in an area waiting to move or retire somewhere else. Whatever the situation, opt for long-term renters when the choice is available. Doing so will make filling a vacancy at least a more infrequent possibility. Keep the property well maintained. If you want good tenants, long-term tenants and tenants who pay their rent on time, do your part to keep them. Deal with maintenance issues quickly. Make repairs as necessary. Upgrade appliances or at least ensure the ones you provide are in good working order. Respond to your tenants’ calls quickly, or if you can’t be sure they know you’ll be unavailable for awhile. Being a good landlord will go a long in way in developing lasting relationships with your tenants, which will in turn, help you keep them in your property longer. Often a tenant and landlord relationship can turn an average tenant into a great one simply because they want to keep that relationship intact. Even in a good economy, it’s important to do all you can to avoid facing the difficulty of paying the mortgage. That applies just as much to an REI professional as it does to the average renter. These simple tips can help as you work to develop lasting, long-term, rent paying tenants to keep your properties bringing in the income you need every month.

May 16, 2021 No Comments

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