Monthly Value Message – December 19

Critical Data and Rates

1. Successful Selling in 2020….Starts Now.

A. For the 4th year in a row(2016-2019) the Peak Demand Reading was the first business day in May. That means for the 4th year in a row April had the highest Demand Rate of the year.

B. You sell your home when you need to, regardless of the month. Yet, if you are in a position to plan for the sale of your property, knowing the market data and using it to your advantage is common sense.

C. As I always “preach”…..early is better than late. The first Business Day after the New Year is the official start of the Spring Selling Season. That does not mean your home needs to be on the open market by then, it means you need to be in detailed conversation with me and we need to be working together on preparing for a “Successful Unveiling”.

D. Selling is a process, not an assumption. While I just told you, April is the busiest Demand month of the year, that in no way means you list your home on the open market April 1st, it sells and you live Happily Ever After. You are selling your single largest financial asset, this is not something that gets the same prep time as getting your haircut. I don’t let my buyer clients buy on a whim and I won’t let you sell on a whim.

E. For those of you I have already been in communication with, lets keep in touch and continue to move forward. If 2020 is a “maybe sell year” for you or anyone you care about, let’s touch base soon. I want to get you in my schedule for 2020 and review the preliminary information we need to be aware of.

2. To Rent or Not To Rent? That is the (Airbnb) Question.

Renting your home on a short term basis(game weekends, graduation, Arts Fest, etc) is becoming more and more prevalent in our area. There are multiple online websites that offer this option to you(Airbnb/Rent Like A Champion, etc).

I offer absolutely no services or official insights on this topic. I just want to share a few thoughts that go through my mind as a potential homeowner considering this as an option.

Are you allowed to rent it?

If you own a property, did you check into the legality of renting it in your township/municipality?

If you live in a Condo/Townhouse/Neighborhood with an Association, do the rules of the Association allow for short term rentals. (FYI, for condo’s and town-homes the answer is almost always “absolutely not”). Homeowners should always confirm the rules before renting.

Are you insured?

I suppose if you use one of the online company’s, they seem to indicate some type of insurance is provided. But do you really know what that means? If someone you are renting to gets hurt on your property, will your homeowners insurance policy cover it? My agent indicated some grey area in the answer to this question, he indicated I have a residential property insurance policy. If I am using it to generate income and advertising it for rent, that can be construed as a commercial use and If there is a problem/injury it might not be covered.

Do you have/Do you need a rental permit and code inspection?

I don’t know. I think you should know before renting your property.

I know a ton of clients, family and friends that rent their home on Airbnb, etc. I am simply suggesting anyone who considers doing this, look into it from a legal and insurance standpoint. Or at a minimum, if you do it without any information as to any potential risks involved, that you realize “not knowing” is not a legal argument in court.

This Month’s Prize Draw Winners

This month’s winners of a $25 Premiere Theater Gift Card are Debra Daggs, Richard Perini, Larry Batterson and Robert Malcom – Congratulations!

Next Month’s Prize

2 winners will each receive a $50 Texas Roadhouse Gift Card.

To enter the prize draw, you need to join my newsletter (bottom of the page) and then simply reply to the Monthly Value Message email that is sent.

“I could agree with you, but then we’d both be wrong.”

– Harvey Specter

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