Which unlikely areas are paving the way for affordable housing?
Nantucket is home to one of the most exclusive housing markets in the country with a median house price of over $3 million. That may be changing as the local government has passed legislation that will allow $6.5 million in taxpayer funding toward affordable housing and they passed a $40 million plan last year in the largest new housing initiative in the island’s history.
In addition to Nantucket, Myrtle Beach, SC, Vail, CO and the Hamptons have also passed affordable housing initiatives to ease the burden on individuals that work in the area but can’t afford to live there. This is a step in the direction of YIMBY for a lot of communities that previously had a NIMBY approach to additional housing.
What are the biggest mistakes sellers make when prepping for a home sale?
Most sellers would like to get their home sold as quickly as possible, but there are several mistakes that could end up keeping your home on the market longer than you would like.
In a recent interview with industry experts, neglecting home repairs was the most common big mistake that real estate agents see their clients make.
Bailey Moran of Austin TX Realty said, “Many sellers believe that they can list their home as-is and buyers will be willing to make the repairs themselves. However, this is not the case. Additionally, buyers may use the need for repairs as leverage to negotiate a lower price. From my experience, it is always best to make the necessary repairs prior to listing the home to avoid any potential issues down the road.”
Experts also cited pricing issues, mistiming the local market, and not working with professionals as other key mistakes that home sellers make when listing. Oddly enough, they also suggested against using candles during showings. Candles are commonly used to cover up smells and can be a red flag to potential buyers.
Would you live in a ‘Pirates of the Caribbean’-themed house?
A home in Plano, TX is listed at $650,000. That’s not all that unusual. What is unusual is that it’s designed with a theme that would make Captain Jack Sparrow smile. Complete with ropes, a jail cell, wood planks, and a boat-themed swimming pool, this 3,153 sq. ft. home on a 0.7-acre lot is built to entertain. It also comes with three bedrooms, two full baths, a large media room, and a two-car garage.
Pre-Approval
in 10 minutes?
in under 10 minutes. Grab a few important documents to get started.
- Tax Returns
- Copies of W-2s (or 1099s for independent contractors,
freelancers and the self-employed) - A payroll stub
- A bank statement
- Loan obligation info (student loans,
auto loans and credit cards)
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
