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How To Sell A Home During The Slow Season? Try Multiple Listing Services.

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Multiplelistingsjune2019


Timing is everything when listing a home for sale.  There are always lucrative times to sell and nonprofitable times to sell.  For example, attempting to sell a home after the summer can be problematic.  It never fails that summer comes and goes quickly, and then people are already talking about the beginning of the school year, college football, and holiday shopping.  What this means is that potential home buyers become distracted with other priorities.  If there are a few homes in inventory that haven’t sold in the first 30 days, everyone begins to wonder what might be ‘wrong’ with them.  So what options do Realtors have to keep their homes at the forefront of potential buyers’ minds?  The best approach to keeping properties fresh is to try multiple web listings, supplementing existing ones with new services; this keeps the property in a "Just Listed" status even when the property has been listed on another site for over 30 days.
 

Suggested site to list your home: Try HouseList.com 1st  

 

Keep It Fresh

Always keep your eyes open for new real estate listing services.  The worst thing to do is to depend on one listing service to release your properties all at once to a bunch of MLS sites.  If the properties don't sell in the first 30 days, prospective buyers question the value of the property and your listings starts to drift down on many of these online services.  The longer your property sits unsold on the market, newer properties start to appear above your listing.  You need to keep the property fresh and take the extra step to find additional online real estate sites to list your property.  

 

Diversify your Listings

It’s important to add a property to more than one listing service at different times.  Most listing services are interconnected and will list all the new properties at once.  So once your property has been submitted to one MLS listing, it will appear on 5 to 10 other sites at the same time.  This will diversify your property listing at one time, but it exhausts many listing services all at once with the same listing date.  Before you realize it, the new property you just listed has dropped to page 2 or 3 on several sites all at once.  This isn't true of every site, but is generally what happens with most real estate listing services.  So if you find other real estate listing services that are not all tied together, you can restart the listing clock on each new website as a single listing.  This way your property will always show new somewhere online.  

 

Get More Viewers 

Another great benefit of using several different online listing services is that you promote your property to a bigger audience of prospective buyers.  Not all home buyers will see your property on the same site, and serious home buyers will scour the internet for the best deals.  Some buyers purposely look for homes on listing sites that don’t display a repeat of what they just saw on the main listing services.  They know that good deals don’t always appear on the first several sites that show up on search engines.  

 

Keep Costs Down 

When listing a property, it’s always beneficial to avoid spending too much money on multiple services.  To keep your cost down, always be on the lookout for great listing services that will list your properties for free or at a very low cost.  There are a lot of sites that review real estate websites that list your property for free or at a reduced cost, and we’ve listed some of these sites below so that you can review them and decide for yourself which sites are the best to list your property to a larger audience.  Happy House Listing!

 

Suggested site to list your home: Try HouseList.com 1st  

 

 

Additional Sites to List Properties:
https://moveuprealestate.com/30-websites-post-your-real-estate-listings/

https://retipster.com/real-estate-listings-post-ads-free/ 
https://www.isoldmyhouse.com/for-sale-by-owner-websites/ 
https://www.seodennis.com/fsbo-for-sale-by-owner-websites/

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Can A Restrictive Covenant Prevent Me From Using My Property Any Way I Want?

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Restrictive

It depends on the kind of restrictive covenant but, yes, you could be prevented from using your property however you see fit. For example, building certain types of fences, adding a satellite dish or parking vehicles in your front yard or more than a couple cars in your driveway could all be prevented by a restrictive covenant. A restrictive covenant is an agreement that acts as a limit or prohibition of certain uses of real estate. For instance, restrictive covenants for a residential subdivision may limit the use of the real estate in a subdivision to exclusively residential use. Some restrictive covenants may define the maximum and minimum square footage of homes that may be built or may set forth further limitations regarding construction of other buildings upon the premises.

Restrictive covenants must be in writing and must be signed to be enforceable. To be effective against subsequent purchasers, restrictive covenants must be recorded. Typically, restrictive covenants run with the land, meaning that they will continue to apply to the real estate property even after the original owner at the time of execution of the restrictive covenant transfers it to another person. Therefore, if property is purchased that has restrictive covenants, the buyer may be subject to those restrictions.

Most states do have limitations as to the length of time the restrictive covenants may run. These limitations may be found in statutes, sometimes referred to as stale use acts. To be enforceable, restrictive covenants must be clear-cut and explicit. Courts will often refuse to enforce restrictive covenants that are vague or ambiguous. Please see specific state for details and/or differences.

NOTICE: Restrictive covenants prohibiting sales of real estate to minorities have been declared unconstitutional and unenforceable.

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I Just Made A Property Purchase. Do I Need A Will?

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Will

There are very few people who do not need a Will.  If the state intestacy statute (state laws that set forth who inherits without a Will) provided for the exact distribution of a person's property as they would choose, then perhaps a Will would be unnecessary.  However, even a Simple Will does much more than simply provide for distribution of property.  Parents with minor children need to appoint a guardian to care for the children in the event they die while the children are minors.  Without this designation, anyone could apply to the court to be a guardian of the children. Also, trusts for minor children can be set up to provide fairly for children of different ages and circumstances.   Likewise, a Will appoints an executor to handle the estate, decide which assets should be sold or retained, file tax returns, and provide for an orderly distribution of the property.  Again, without a Will, anyone can apply to the court to act as administrator of the estate.  For those individuals with estates approaching or exceeding $600,000 in value, a Will not only distributes the property but can provide estate tax planning designed to minimize federal and state death taxes.

 

There are certain estate planning devices that are commonly referred to as Will substitutes.  The goal of a Will substitute is usually an attempt to avoid the probate process, although many times this is not accomplished because, through inadvertence, not every asset is covered by the Will substitute.  Joint ownership with right of survivorship is the most common.  When property is jointly owned, it passes to the joint owner at the death of the other joint owner, regardless of whether or not there is a Will.  There are limited circumstances where this is suitable as a Will substitute.  One situation might be where a surviving spouse has only one child and wishes to leave all property to that child.  In certain cases, spouses may own all of their property as joint tenants with right of survivorship.  This may be acceptable until the death of the first spouse to die, but then the surviving spouse must begin the estate planning process all over to dispose of the property at their death and certain estate tax planning benefits may have already been lost.

 

Revocable trusts are also used as Will substitutes, although generally a person with a revocable trust also has what is known as a "pour over" Will.  Trusts are a complex area beyond the scope of this topic.  Briefly, trusts can be attractive for those who desire that the details of their estate not become a public record at the time of their death.  The time involved in transferring assets to beneficiaries can sometimes be expedited with a trust.  For larger estates, the fees involved with a trust may be less than the administration fees required through probate; however, this will vary greatly depending on the state.  Also, a probated Will provides an established procedure for creditors to file claims and for heirs to contest the distribution under the Will.  However, these claims can also be asserted against a trust, but there is not a procedure set forth at time of death.  There are also many complexities involved with a trust that in many cases offset the perceived benefits.

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