Best Tips to Winterize a Vacant House

Though occupied homes can also benefit from a quick winterization, vacant houses are particularly prone to damage during extended periods of freezing temperatures. By winterizing a vacant house, you are protecting your investment, and keeping it in good condition so it can be sold, rented or otherwise inhabited at a moment’s notice without worry of unforeseen issues. If you own property in a cold climate that’s prone to long winters, here are a few suggestions that will help you in winterizing it.

Winterizing with Utilities

First of all, it is advisable to leave the heat on very low. Though it might seem like a waste of money or energy at first glance, a minimal heating bill will be less expensive than the cost of potential repairs if everything were to freeze up. There are many systems and components in a house that are meant to be kept at or near room temperature. By using your furnace or boiler at a low level, you are keeping these things secure.
Most people know that a big part of winterizing is dealing with pipes and plumbing. If you have turned off the water, hopefully that means the house was plumbed on a downgrade so you were able to drain all the pipes completely and eliminate the chance of water expanding inside them and breaking the pipes. If not, it usually is advisable to leave some water running through the pipes by turning on the fixture closest to where water enters the house and at the farthest point indoors, say in an upstairs bathroom. It needs to trickle constantly to keep water flowing.
It is also advisable to wrap insulation around the water heater, the pipes leading to and from it and insulate any pipes exposed outdoors, in a crawl space under the house, etc. If the pilot light is left on, it is not necessary to drain the water heater, but if not, then it probably should be drained and turned off. You might call a local plumbing company in your area to discuss whether you should turn the water back on or not.
It is not a bad idea to put some antifreeze in both the tank and bowl of each toilet. If the heat goes out and water inside the toilets freezes, it could crack the china fixtures.

Other Winterizing Techniques

Winterizing your plumbing and water systems might be the most important aspect of winterizing in general, but coming in pretty close is inspecting your roof and cleaning out your gutters. The roof and attic of a vacant house might be left alone for very long periods of time, so getting a roof inspection for about $500 before cold weather hits is a fantastic idea, and could end up saving you some serious money in the long run. Gutters, like plumbing, can develop real problems if ice is allowed to build up in them. Having your gutters cleaned before winter begins will reduce the risk of too much ice forming inside them.
Finally, make sure someone checks on the house every week or two, if at all possible. Though you can certainly take precautions such as winterizing whatever you can in and around the house, unexpected situations can still occur. A quick look around done periodically for as long as the house is empty (even during warmer weather) can mean the difference between a problem being caught early enough to be fixed before any damage is done, and a problem that’s left unchecked long enough to cause hundreds or even thousands of dollars in damage.

Greg Hammond  Eagle Thirteen Properties We Buy Houses Louisville

Why You Should Sell Your House in the Fall and How To Be Ready

The warm-weather housing market might be coming to a close, but don’t worry – there’s still a chance to find a buyer before the end of the year. In fact, you could be coming in at exactly the right time. Here are some benefits of selling your house in the fall, and why it might be a smart strategy.
Reason #1: A more serious buyer pool
Yes, the spring housing market is sure to bring out buyers, but plenty of folks may hold off on making an offer. With more homes to choose from, they can afford to be picky, and that could extend their search by months. Come September, though, serious buyers will be feeling the pressure to make their move before the holiday season or bad weather hits. That’s where you come in.

• · How to prepare: Step up the curb appeal. Curb appeal is one of the biggest things people forget about when selling in the fall. Fix up the front porch, rake the leaves, and please – don’t forget to clean the gutters! With everything well maintained, you’ll be ready when the buyers are.

Reason #2: Less competition
Post-summer home buyers not only have the stress of the holiday season looming overhead, but their options are shrinking. Many sellers rush to close by September, so fortunately you’ll be competing in a much smaller market. That can be a powerful bargaining chip to help you close before the end of the year.

• · How to prepare: Make your home listing stand out. Fall and winter photos run the risk of looking drab, but well-timed summer photos are bright, clean, warm – really everything you need to stand out to serious buyers. So take advantage of the season’s best days and include those photos in the listing when you go to sell in the fall.

Reason #3: Different buyer demographics
While families are more likely to make their move in the spring, millennials and empty-nesters usually swoop in a bit later in the year. They’re not the only ones, either: to avoid higher “on season” real estate rates, employers who need to relocate their workers often wait for the fall, when the market tends to cool down. These out-of-towners will probably need to get through the process quickly, too, which could mean a relatively speedy closing.

• · How to prepare: Stage the space. Empty-nesters aren’t necessarily looking for three bedrooms, but they might want a workspace, exercise room or guest bedroom. On the other hand, a millennial couple might want space for a nursery or playroom. Let each buyer see how the house can fit their needs.

Reason #4: More flexibility for improvements
Depending on where you live, spring and summer can be a much-needed break from a harsh winter, and your house could probably use a little TLC. So give yourself those warmer months for some home improvements.

• · How to prepare: Schedule repairs and final touches. In between weekend getaways and beach days, sneak in repairs and even small renovations if you need to. Make sure your heating system is in tip-top shape before the temperatures drop. You don’t want to show your home on the first cold day of the year, only to find the heat doesn’t work.

You may feel like you’re behind the curve, but in many ways, now’s a great time to sell. All it takes is a little bit of prep work, some smart planning and the right tools to get ahead.

Greg Hammond  Eagle Thirteen Properties, LLC

Housing Outlook For Summer 2018 (Tough if you're looking to buy a home!)

The summer is shaping up to be a miserable season for many house-hunters.
Home values across the U.S. spiked almost 9 percent last month, marking that fastest pace since the height of the housing bubble in June 2006.
Despite the sharply higher prices, demand from buyers remains strong, thanks to a combination of demographic changes, rising wages and the new tax cut, creating what real estate data site Zillow describes as "a perfect storm." On top of that, new construction has been sluggish, leading to tight inventory.
The median home price in the U.S. rose 8.7 percent to $215,600 in April compared with a year earlier, Zillow found.
Higher mortgage rates add to the challenge of finding an affordable home, and some buyers may be rushing to make a purchase before the Federal Reserve potentially boosts rates again later this year. Fixed rates for 30-year mortgages are now at about 4.66 percent, their highest level since May 2011, Freddie Mac reported on Thursday.
There may be a good news/bad news situation in the months ahead, according to Zillow senior economist Aaron Terrazas.

The housing market may slow later this year as it hits headwinds such as the impact of rising mortgage rates, he said. That may provide a breather for buyers, but may disappoint some home sellers.
"Once mortgage rates get beyond 5.5 percent and closer to 6 percent, there will be a more meantingful headwind to home appreciation," he told CBS MoneyWatch.
In the meantime, prospective buyers should get their finances in order, including boosting their credit scores before securing a mortgage, he said.
"If you can get as high a credit score as possible in the year before you buy, it'll save you a lot of money," he noted.
Research from Zillow found that homebuyers with a "fair" credit score -- or between 640 to 680 -- could pay up to $21,000 more than a buyer with an excellent credit score over the life of the mortgage. Buyers with higher credit scores are rewarded with lower interest rates.
Below are 5 things to know about the housing market.

Home values are appreciating fastest in these cities

Some locations are witnessing faster appreciation than others, Zillow found. The cities experiencing breakneck price gains include San Jose, where home values rose 26 percent in April to a median $1.26 million. Other pricey locations include Las Vegas and Seattle, where home values rose 16.5 percent and 13.6 percent, respectively, last month.

Waiting until late 2018 or 2019 may pay off

Home prices may moderate later this year and in 2019, according to Freddie Mac. The government mortgage finance company said it predicts home prices will rise 7 percent in 2018, but will only increase 3.1 percent next year.

Not all millennials are living at home

The size of the millennial generation -- some 83 million people under age 35 -- guarantees built-in demand for housing, even if their household formation is slower than in previous generations. About one-third of millennials still live with adult relatives -- but that still leaves millions who are on the hunt for their own places.
About 1 million new households will form each year for the next few years, creating pent-up demand for housing, according to Freddie Mac.

Construction isn't keeping up

The single-family housing market isn't keeping up with new homes, according to Freddie Mac. Labor shortages and development costs are to blame for the shortfall, although construction started to pick up late last year, it added.

Existing home buyers are hesitant to sell 

Because there's not enough inventory to meet demand, some home owners are opting to stay put rather than to put their homes on the market. The fear is that they might sell their home quickly, but be unable to find new home to buy. That's stoking a vicious cycle of low inventory, according to Freddie Mac.

Eagle Thirteen Properties/ We Buy Houses Louisville

Is House Flipping finally on the Decline?

House flipping hits decade high, but returns are shrinking

• More and more people are flipping houses, but they are reaping smaller rewards.
• Just more than 207,000 homes were flipped in 2017, the highest in a decade.
• The number of people or companies flipping homes also hit a decade high.

More and more people are flipping houses — the most in 10 years – but they are reaping smaller rewards. High home prices, hot competition and very, very few available homes to buy are combining to make this popular trade ever more risky.
Just more than 207,000 homes were flipped in 2017, according to a new report from Attom Data Solutions, which defines a flip as a property bought and sold in the same 12-month period. That is the highest number of flips in a decade. The number of people or companies flipping homes, 138,410, also jumped to a decade high.
Today's flippers, however, are nothing like those of a decade ago, who used cheap and easy money to finance their trades.

Source: Taylor Denchfield

Taylor Denchfield has been flipping homes since he was 17.

"The surge in home flipping in the last three years is built on a more fundamentally sound foundation than the flipping frenzy that we witnessed a little more than a decade ago," said Daren Blomquist, senior vice president at Attom Data Solutions. "While financing for flippers has become more readily available in recent years, 65 percent of flippers still used cash to buy homes flipped in 2017, nearly the reverse of 2004 to 2006, when 63 percent of flippers were leveraging financing to buy."
Today's flippers are seeing bigger gross flipping returns in dollar figures because they're dealing with much higher home prices and margins, but they are also putting more money into the projects, making the net return lower. The average gross flipping return on investment last year was 49.8 percent, down from 51.9 percent in 2016.
Taylor Denchfield has been flipping homes in Maryland since he was 17. At 25, he's a veteran with a strict strategy for profit. His net returns are about 30 percent per project.
"I'm a real estate agent so I'm able to both buy and sell the deals myself saving on the listing commission. I'm a builder, so I do have all the contractors and staff in-house to complete everything from start to finish. And I do have contacts to source off-market deals. Three of those things combined is really what permits me to be more profitable than some others," he said.
Denchfield purchased a small home in Silver Spring, Maryland, a suburb of Washington, last September. He put about $80,000 worth of work into it, and the bet paid off. He sold the property in two weeks and expects to make a net profit of about $100,000.
"You have to be able to get in for a low enough price, it has to be a hot enough neighborhood and you have to know exactly what the build is going to entail," he said.
Denchfield does use leverage for some of his deals, and private lending for house flipping is now a growing trade. While Fannie Mae will back as many as 10 investor loans per flipper, it is still very strict with underwriting, so flippers are increasingly going to private lenders.
"There is more capital available now," said Bobby Montagne, CEO of Walnut Street Finance, a Virginia-based private lender specializing in investor loans. "People are seeing others making profits in this space, so more people are going to join the party."

Above: A new deck added to a flipped house.
Interest rates on these loans, however, are significantly higher than the average rate for regular owner-occupant buyers. Investors can expect to pay 10 to 12 percent rates to private lenders, compared with the average 30-year fixed rate of 4.6 percent for conventional home loans.
"So that's just another thing that really tightens up the margins," said Denchfield.
The popularity of house flipping has been fueled by popular TV shows that make the process look both dramatic and fruitful at the same time. Denchfield warns that is the exception, not the rule.
Today's housing market is increasingly expensive, and there are historically few distressed homes for sale, unlike during the foreclosure crisis at the start of this decade. Seasoned flippers who can find properties that haven't been listed yet will fare better. Some go through wholesalers, others through real estate agent contacts.
There is also a supply crisis, especially on the lower end of the market where flippers usually make their best returns. There are more million-dollar homes available, but the risks there are even higher, given the high investment price.
Flipping returns vary by city. The highest average gross returns last year were Scranton, Pennsylvania (168.2 percent); Pittsburgh (145.5 percent); Baton Rouge, Louisiana (122.9 percent); and Philadelphia (115.7 percent). Cleveland, Baltimore and Buffalo, New York, were also above average.
Flipping rates were highest in Memphis, Tennessee; Las Vegas; Tampa, Florida; Birmingham, Alabama; and Phoenix.

Getting Your House Ready to Sell for the Spring Market

If you're a prospective home seller, here are five things you can do now to get ready for a spring sale. If you don't want to do these things, call us we will buy AS IS!

 Greg Hammond  We Buy Houses Louisville/ Eagle Thirteen Properties, LLC

Start packing

It may sound crazy to start packing months in advance of your move, but since you'll eventually need to do this anyway, you might as well get organized now. We're not suggesting you pack up your kitchen and eat off paper plates, but you can sort through your storage closets, attic, basement or garage to determine what you want to keep, what to give away and what to sell. Boxing up items will make your space look larger and neater when it's time to show your home. You can also get an idea of whether you need to rent a storage facility while your home is on the market.

Clear away the clutter

If you visit model homes or open houses of homes that have been staged, you'll never see a stack of unread magazines, children's artwork loosely hanging on the refrigerator, or a cluster of unpaid bills on a table. While everyone has clutter, buyers want to see a fantasy version of your house, in which they can envision living. Once your home is on the market you'll need to keep it as neat as possible. One way to make that easier is to reduce the amount of clutter you have on your shelves and surfaces. Put away items that are regularly on your kitchen sink and pack away the family photos that gather dust.

Improve your home

While you don't necessarily want to do a major, expensive renovation project before you sell, you can make minor repairs and improvements that will make your home look fresher to buyers. Try things such as replacing the caulk and grout in your bathroom, updating old or rusted ceiling fans and light fixtures, and changing switch plates, doorknobs and other hardware for a clean and neat appearance. Consider painting your front door and trim even if your rooms don't need new paint.

Interview real estate agents

Your choice of a listing agent will make a big difference in how quickly your home sells and how much of a profit you'll realize. Get recommendations from friends and interview several listing agents to see which ones have the right experience with similar homes in your price range and area. A real estate agent with a great marketing plan and deep local knowledge is extremely important. Don't just go with the one who tells you they can sell for the highest price; choose someone who can present you with a detailed market analysis.

Research your market

If you plan to buy another home, an important decision to make is whether to sell your home first or make an offer on a new home before putting yours on the market. A knowledgeable real estate agent can help you evaluate how fast homes are selling in your market and help you estimate how long it will take you to find a home. This decision also depends on your financing, so you may want to consult with a lender to see how you can finance the transition from one home to another if you choose not to sell your home first.
If you spend the winter months preparing for spring, you'll find yourself ready to move fast when buyers come out of hibernation.

Top benefits of selling your house to a home flipping company

 

Eagle Thirteen Properties, LLC

Top benefits of selling your house to a home flipping company

1. It’s fast and easy

This has to be the most notable benefit of selling your home to a home flipping company. Selling a home is usually a time-consuming process especially when you are relying on traditional methods i.e. putting up a ’For Sale’’ sign on your yard or interviewing and hiring a real estate agent. The process is usually difficult when you want to sell your home at the best price possible. House flipping companies take away the difficult and time-consuming process of putting up a house for sale and waiting for potential buyers. 
When you use a house flipping company/investor, you don’t have to prepare your home for sale i.e. renovate, landscape, etc or market. The companies buy the house as it is and the sale is completed in record time. As long as there are no title issues, these companies typically take 7-10 days to complete the transaction. If you are in dire need of cash, a house flipping company is your best bet. It’s simply about deciding if you want to go ahead with the sale or not after getting an offer, and most house flipping companies pay in cash.

2. You are guaranteed of selling your house regardless of the state or condition

House flipping companies or investors who buy old and/or ugly houses don’t really care about the state or condition of your home. These companies specialize in buying such homes, so you are almost assured of selling your home when you choose such companies as opposed to selling your home conventionally. If your home has deteriorated over time, but you want to sell fast without having to do any renovations/repairs, house flipping companies are your best option. 
House flipping companies are in the business of buying old/dilapidated/ugly homes. The companies renovate such homes and resell them at a profit. The companies also target lots where homes sit on in cases where it doesn’t make financial sense to renovate. The Arlington and Vienna areas of Northern Virginia have become hubs for real estate investors mainly interested in purchasing homes for their lots. While typical home buyers look for perfect homes to buy, home flipping companies are looking for old, ugly and/or dilapidated homes to buy. In fact, most house flippers will say the uglier, the better. You are therefore assured of a sale even if you won’t get the best deal.

3. You avoid hiring a real estate agent

The process of finding the right real estate agent to sell your home can be a difficult and time consuming process. It might take talking to and interviewing numerous agents before you find a real estate agent that you are comfortable with.

4. You avoid ”for sale by owner.”

Trying to sell your home on your own is usually a daunting task. Although some homeowners prefer this option to save on real estate commissions, it takes a lot of effort, time and skill to sell your own home. For instance, you need to have good marketing skills to market your home online and offline. Putting up a ”For Sale” sign isn’t enough to draw potential buyers. You need to take perfect photographs of your home and post them in real estate listings online relevant to your area. You also need to avail yourself for showings, negotiate effectively with potential buyers, represent yourself during critical stages of the entire process i.e. buyer’s home inspections, etc.

In a nutshell, you need a variety of skills to sell your own home without the help of a real estate agent. In most cases, it isn’t worth the effort trying to sell your own home without any help especially if your home is old or in poor condition. When you sell your ugly home to a ‘we buy ugly houses’ flipping company or investor, you avoid all the stresses and requirements associated with selling a home without help from an agent.

      Just like anything else you need to do your homework before selling your house. There are good and bad "We Buy Houses" companies out there just like any other business. Here at Eagle Thirteen Properties we are in it to make a small profit but not by hurting anyone in the process.  If we can't make you happy, we simply will not do the deal. We are a family owned and operated business who prides ourselves into helping homeowners out of difficult situations. If you need help selling your home, give us a call. it's a free opportunity to review all your options and absolutely NO PRESSURE. Thanks and have a Blessed day!

Greg Hammond President of Eagle Thirteen Properties LLC

Housing Market Forecast for 2018

Real Estate and Housing Forecast 2018 to 2020

Mar 1, 2018.  Buying or Selling a house or condo in 2018 or 2019? How do you feel right now about the 2018 housing market? Is the recent pessimism justified?

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Millennials still hopeful to buy a home in 2018

Take another look at prices, GDP, wages, jobs, and other key data below on the US Economy for the next 6 years and you may see a surprisingly positive picture, far from the dread of the recent stock market correction.
This completely updated EPIC United States Housing Report has market updates and predictions for 2018 to 2020, and other data to 2026.

IN this post, you’ll discover the hottest city markets, zip codes, get economic, employment, finance, and housing projections to understand the key fundamentals driving rental investment, home construction and the real estate markets in 2018/2019 to 2026.
What’s the story for winter 2018? It has to be Texas and Michigan, however the overall picture is of a very good spring for the housing market nationwide and going forward to 2026. Population growth in San Francisco, Denver, Houston, Seattle, and Phoenix. The western migration is strong, as will those housing markets will be.

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Las Vegas leading the way with 8.7% economic growth, 6.9% price growth and 4.9 sales growth. Infographic Courtesy of Realtor.com

The Complete Picture for 2018

Ready to choose your realtor and buy a house or condo this year? The outlook is really rosy! And how about investing in a rental income property for sustained passive income? This current lull might make the next 3 months the best time to buy. The outlook is as positive as could be for buyers. Lock in your mortgage rate.

Overall, predictions and outlook for the US housing market are positive. That’s because the US economy is on its strongest roll ever, bolstered by lower taxes, improved trading agreements, growing American confidence, happiness, comfort, freedom and the American dream has been kindled again.
Take a look at more detailed reports of major US city markets: Latest Posts:  San Francisco Housing Market | | Boston Real Estate Market 2018 | Florida Housing Forecast 2018 | Miami Housing Market |  Los Angeles Real Estate Forecast | New York Real Estate Predictions | Houston Market Forecast  | Houston Real Estate Forecast | Seattle Housing Forecast
This graphic courtesy of Trading Economics shows the top sign that the real estate market will be healthy for some time, and that buying a home is a wise investment (Trading economics is a very informative site, have a visit afterward).

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Increased government spending, low but slowly rising interest rates, and the repatriation of business and corporate funds back to the US means it’s a healthy, safe market for everyone.
Foreign investment has been strong because the world knows, the US is the place to be. American’s have always had a great attitude toward risk and business growth. Now the economy and business markets are allowing that spirit an opportunity to pay off.

NAR/Realtor Outlook on the Housing Market

Housing Indicator	Realtor.com® 2018 Forecast
Home price appreciation	3.2% increase
Mortgage rate	Average 4.6% mortage rates in 2018 to 5.0% (30 year fixed) by year end
Existing home sales	2.5% growth, low inventory problem easing
Housing starts	3% growth in home building 7% growth in houses
New home sales	Growth of 7%
Home ownership rate	Stabilizing at 63.9% nationally

Despite the market correction, experts feel this bull market could continue as long as business keeps coming back to the US. That’s a long process of repatriation. In the meantime, the jobs picture, wage growth, investment, and profit growth are giving real estate participants a lot of optimism.
The resistance to housing development is slowing. Conservatives are giving up amidst intense pressure by those facing outrageous housing shortages and skyrocketing rental prices.

Housing Shortages Won’t Ease

Although January’s sales were disappointing, it’s due to the severe shortage of housing. Demand is there and you’ll be competing against a hoard of buyers in 2018.  Corelogic expects 2018’s home prices will grow 4.3% by next December.  NAR and Realtors® expect only a 3% growth in prices this year. Nevada, Texas, Washington, and Florida are the states with the best outlook, and perhaps the best places to buy homes or rental properties.
The Bay Area, Portland, and Seattle areas saw the highest growth in prices last year while LA’s tumbled. Listings fell dramatically in cental California, Oregon, Washington, and New York.
Consumer mood was not so good in July of last year, mostly due to government problems. Yet the market came flying back. These challenges overcome mean more Americans will have more confidence in their personal situation.

The US Economy 2018/2019

These stats from Trading Economics show positive fundamentals that will drive growth in the housing market, and in turn will bolster the economy, since new household consumer spending and housing investment is a key driver of the economy.

The tax cuts should help although the Fed is counteracting that growth with a questionable raising of interest rates which seems to have sparked the sudden stock market volatility.  Although some disincentives are present for home buying in certain price ranges, that will help keep the market balanced for 2018.
Home prices should begin rising again this late spring in Florida, New York , Boston, San Diego, Houston, Miami, Seattle, Bay Area and the rest of  overheated California.
Buyers and sellers will enjoy the market trends, stats, threats, and the key factors including housing construction starts described below. Enjoy the big picture!

We Buy Houses Louisville/ Eagle Thirteen Properties