The internet has become an indispensable tool in our lives. Its role is particularly evident in how we seek and consume information. In the realm of real estate, a vast number of potential homebuyers and sellers turn to the internet for advice and answers.
78% of real estate searches begin with a search engine, with around 13 billion real estate queries per year. In this landscape, some questions are more common than others. Let's delve into the thirteen most googled questions about real estate in 2023 and provide detailed, useful answers to these burning queries.
Shedding light on frequently-asked questions by home sellers
“Why do I need a home inspection?”
The main purpose of a home inspection is to reveal potential issues with a property before the sale goes through. It's an opportunity for a professional inspector to evaluate the home’s condition and identify any areas needing attention or repair. The results of the inspection can provide a seller with insights into the health of their home, helping them decide on necessary improvements to enhance the home's appeal and increase its market value.
“Can I reject a buyer’s offer on my home?”
Sellers may reject offers for a variety of reasons. The offered price could be lower than expected, the terms and conditions may not align with the seller's needs, or there may simply be more attractive offers on the table. Understanding this can help sellers better appreciate the competitive dynamics of the real estate market and prepare for potential offer negotiations.
"How do realtors assess a home's value?"
Realtors typically use a method known as a Comparative Market Analysis (CMA). This involves comparing the home in question to similar properties nearby that have recently sold. A CMA considers factors like the size of the house, the number of bedrooms and bathrooms, the home's condition, and any upgrades or unique features. This information helps the realtor estimate a home’s market value.
“What is a conditional sale?”
A conditional sale happens when an offer to buy a home is made and accepted, but certain conditions outlined by the buyer or seller must be met before the sale is finalized. These conditions could include securing financing, selling a current house, or a satisfactory home inspection. Understanding the importance of conditional sales can help sellers navigate the complex terrain of real estate transactions.
“How long will it take to sell my home?”
This depends on several factors, including the current real estate market, the listing price, and the home's location and condition. The selling process could take a few weeks to several months. Your
local real estate professional can provide an estimated timeframe based on these variables.
“When is the best time to sell my house?”
The best time to sell can vary depending on local market trends and personal circumstances. Some sellers may find success in the spring when many buyers are looking to move before the next school year begins. Others may find the fall beneficial due to less competition.
Providing clarity to the common concerns of home buyers
“What do I need to qualify for a mortgage?”
Mortgage qualification typically involves an evaluation of your credit score, employment history, income, assets, and debts. Lenders use this information to determine your ability to repay the loan.
“How much of a down payment do I need to buy a home?”
This answer can vary, but a general rule of thumb is to aim for a down payment of at least 20% of the purchase price. This can lower your monthly mortgage payment and potentially eliminate the need for private mortgage insurance.
“How long does it take to buy a home?”
Purchasing a home can take anywhere from a few weeks to a few months, depending on the buyer's preparedness, the state of the market, and the specifics of the transaction. This can include the time it takes to get pre-approved for a mortgage, find a suitable property, make an offer, complete inspections, and close the deal.
“Do I need a realtor to buy a new-constructed house?”
While it's not a requirement, a realtor can provide valuable assistance throughout the process. They can help negotiate the purchase price and terms, guide you through the construction process, and assist with any issues that may arise.
“Why should I work with a realtor?”
Realtors bring invaluable expertise and experience to the table. They understand local market trends, can negotiate on your behalf, and can guide you through the complexities of closing.
“Should I buy or rent?”
The answer depends on your individual circumstances, including your financial situation, long-term plans, and market conditions. Buying may be a good choice if you’re looking for long-term stability and investment while renting provides value flexibility and less maintenance requirements.
“How much can I afford to spend on a home?”
This depends on several factors, including your income, existing debts, credit score, and savings. A good starting point is to speak with a lender to get pre-qualified or pre-approved for a mortgage.
Monitoring the health of the housing market
Questions like, "Is the housing market going to crash?" and "When will the housing market get better?" are among the most googled questions about real estate. Predicting exact market movements is challenging and depends on a multitude of factors, including economic conditions, interest rates, and housing supply and demand. It's recommended to stay informed about local and national trends and seek professional advice when considering buying or selling a home.
The Falkner | Cohen Group is here to help
The Falkner | Cohen Group, founded by expert duo Valerie Falkner and Robert Cohen, is known for its distinct and highly-personalized real estate services. Together, Valerie and Rob fuse their unique talents together to offer a bespoke experience that caters to each client's particular needs.
When handling property listings, Falkner | Cohen Group goes beyond the standard practices of real estate agencies. They work diligently to ensure that their client's properties are widely seen by potential buyers to achieve the highest possible price. What sets them apart is their unwavering commitment to creating an effortless and pleasant experience for sellers.
When it comes to buying, the team adopts a client-centered consultative method. This encompasses a deep understanding of what the buyer is looking for, assisting them with various financing alternatives, and tirelessly searching through different channels to find the property that fits just right.
Rob's invaluable input, including his legal background, zoning knowledge, negotiation prowess, and problem-solving abilities, adds a unique dimension to the group. On the other hand, Valerie leverages her Phoenix roots and her knack for utilizing marketing techniques often overlooked by other agents to ensure maximum visibility for client properties.
At the core of Falkner | Cohen Group's philosophy is a relentless commitment to their client's well-being — be it securing the best price, negotiating the most favorable terms, or making the transaction as smooth as possible.
If you're looking to buy or sell a home or have any questions about the Scottsdale real estate market, contact
Falkner | Cohen Group today.
