Buying And Selling A House At The Same Time

Buying and Selling A House At The Same Time. Tips You Need To Know

Video Highlights: a) Consult with a mortgage professional of your choice. b) Make a game plan 1) Keep both houses rent one* (investment properties usually have higher mortgage rates) 2) Buy and sell at the same time if your finances allow. 3) Use a **Bridge Loan. Watch to the end of this video to take advantage of my free sellers guide offer **A bridge loan is a short-term loan secured by the equity in your current property to help you purchase your new property thus allowing you extra time to sell your current house after closing on your new property. These loans usually have high interest rates and fees attached to them. 4) Buy with a seller’s contingency try to schedule closing the same day with the same mortgage, title company and attorney if possible (not the strongest offer) 5) Sell first, find a temporary place to live. (stronger offer than a contingent one) all other factors being equal.

Transcript Of Video

Mark Schreier: Hello everybody. Are you looking to buy and sell a house at the same time? Well that's the topic of today's video, Mark Schreier: Buying and selling house at the same time. That is the topic of today's video. Hello everybody. My name is Mark Schreier and I'm a Licensed Sales Associate with Century 21 American Homes Real Estate right here in Syosset long Island. Today I'm going to give you four tips to help you move forward with that double transaction. Let's get into tip number one. Actually there'll be five because tip number one is sit down with a mortgage professional and discuss all your finance options. Everybody's situation is unique to themselves. Find out what they are, find out how much you can afford moving forward if you have more, if you're using a mortgage and find out how much naturally is left on your current mortgage and what your options are financially. So I'm going to give you four things you can do to help you move forward with that game plan. Mark Schreier: Once you know your financial options, you can "A" keep both houses or one keep, both houses you choose. Use one as an investment property and you know, for rental rented out. And the other one is your primary residence. Understand if you're going to utilize a mortgage and it's with a mortgage professional would come in. Usually a second property is considered an investment property and it comes with a higher a finance rate than a traditional first property. So make sure you discuss that with that. with them. Number two, buy and sell the house at the same time. For some of us that's an easy thing to do financially. If you have the money you can buy one and sell one. You don't have to worry about the timing or anything else. But for most people it is a financial problem and also a timing problem. The way you can, um, eliminate some of those issues is one, you can use a bridge loan and a bridge loan is basically exactly what it sounds like. Mark Schreier: It is a short term loan that will fill the gap or the void and the finances that you have. So you currently own your house a that you're living in. You want to buy home B, you can use the bridge loan for a down payment and also to satisfy the closing costs. And then once you sell home A, you pay off the bridge loan understanding higher percentage rate, uh, on those bridge loans and also some pricey closing costs. Discuss that with your mortgage professional or your local bank to find out what exactly that entails to see if that's a viable option for you. Also, if you're going to buy and sell at the same time, a tip is to try to use the same title company to do with a title search because everything is in house. They know they're selling this one, they're buying that one. Mark Schreier: Use the same mortgage company. If you're using a mortgage, all the funds are staying in house and if possible, if you're staying local, use the same attorney so it'd be very easy and try to time everything on the same date you do the closing on house in the morning, closed it on the other house in the afternoon and everything can run smoothly. In a perfect world. Again, in a perfect world, but that doesn't always happen. So that would be a very good scenario if it was able to go. Uh, one thing I want to mention is stay tuned to the very end of this video. I'm going to be giving away a free sellers guys, or if you're looking to sell your house, this is a free guide to help you save some money. Some do it yourself, things that you can do to improve the property value of your house. Mark Schreier: Look for that at the latter part of this video. Back to number four, sell as contingency on a seller's contingency. You're going looking at houses and your making offers contingent upon the sale of your house. Understand that if it is a sellers market is sellers contingency offer is not a good way to go because if somebody is getting multiple offers on their property, a property with a seller's contingency is not considered as strong as somebody making an offer with the same credit rating, the same, uh, dollar amount one with the seller's contingency is not as good as an offer, as the same offer without that contingency all else or all of the things being equal. Okay? And number five, sell your house first. Get a temporary place to live. And then once you sold your house, whether you're living in a hotel or a family or a friend's house, once you sold the house, then you can go out looking for the new place for you to live. Mark Schreier: And now you're selling what we call your, you're an unattached buyer, which you have much better terms than somebody who is attached to a property. Like I mentioned a moment ago, I hope this wasn't too confusing for you. Again, remember to give me a thumbs up and subscribe if you enjoyed the video, leave some comments below. This is Mark Schreier from century 21 American Homes. And thanks again for watching. Hello? Yes, I'm talking to you, the person that watched my video to the very end. Thanks a lot for watching. If you enjoyed it, please give me a big thumbs up. Subscribe to my YouTube channel like me on Facebook. I am a licensed real estate agent in New York state, but I also have a referral service that deals nationwide. So if you're looking for to buy or sell a house anywhere in the United States, please send me a text, contact me via phone, and I'll set you up with a local professional in your area. If you're in my vicinity, I'd be more than happy to help you out in any of your real estate transactions that you'd like. This is Mark Schreier from century 21 American homes, and I'll talk to you soon.

Mark Schreier Realtor Century 21 American Homes
Please feel free to contact me with questions Email: Realtor@markschreier.com Text: 516.263.9094 Mark Schreier Licensed Real Estate Agent Century 21 American Homes Real Estate Syosset, New York Website: http://bit.ly/2xLPW51 Making Dreams Come True One Home At A Time. #PlainviewNewYorkRealEstate, #SyossetNewYorkRealEstate, #JerichoNewYorkRealEstate, OldBethpageNYRealEstate, #HicksvilleNYRealEstate

What Zillow Won't Tell You About Their Free For Sale By Owner Platform

What Zillow won't tell you about their free for sale by owner platform. Attention all for sale by owners (FSBO'S). Thinking for using Zillows free service to sell your house? Do your homework watch this video so you know what you signed up for. The old saying "there is no such thing as a free Listing". Find out what happens to your information when you post to their FSBO platform.

Please feel free to contact me with questions via: email, text or a phone call.

Mark Schreier Licensed Real Estate Agent

email: Realtor@markschreier.com

with Century 21 American Homes Real Estate, Syosset, New York

Cell: 516.263.9094 Website:

http://bit.ly/2xLPW51

Transcript of Video

Mark Schreier :     What Zillow won't tell you about their Free for-sale-by-owner platform. That's the topic of my next video.

Speaker 2:          [inaudible]

Mark Schreier :     What is it that Zillow doesn't want you to know about when it comes to their for Sale By Owner platform? That's the topic of this video. Hello everybody. My name is Mark Schreier and I'm a real estate agent with century 21 American Homes Real Estate right here on say, Syosset, Long Island. If you new to my channel, welcome and please remember if you enjoy the content, subscribe, and press or ring the bell as we say. Uh, so you'll get some push notifications whenever my videos come out and I try to post once a week. I've been pretty good regularly and I try to get those videos out on Tuesday. As long as my day is going well, I shouldn't be able to get them out there some time on Tuesday, Tuesday afternoon, evening, the latest. So back to this specific topic, Zillow claims that you can get a free listing, a for sale by owner listing won't cost you a penny.

Mark Schreier :     Well, let's dive into it and see if that's actually true. Number one, they ask you to populate their particular questions. Uh, your name, you know your name, the contact phone number, you upload some pictures, you upload video if you have it, a description of your, of the property and so on. Similar to what a real estate agent would do with, with your property, if they were listing in it. And remember your, your goal is to sell it by yourself. So when you upload that information on Zillow's platform, automatically, you've now become a product, a product for who? Well, similar to a toy on a shelf, you become a product for agents. Zillow has another platform that they utilize for real estate agents where they sell leads to agents that have signed on to become part of their particular program. And already we have a slight conflict.

Mark Schreier :     You didn't want to be dealing with agents, but when you put your information up there, they now send your information to the agents in that area that are bought the zip code or a certain locations and they get your information directly and you become a lead because you're an unrepresented seller looking to sell your house on your own. And, and other tidbit I will share with you is about 85% of people who try to sell their homes, houses on their own do not or end up util utilizing a real estate agent moving forward. So think about that. These agents, your house up there and they're paying for leads, your house, your house just became a lead for them and they're going to be contacting you wanting to sell your house. So understand that that's number one. Number two, the zestimate. Now Zillow claims it should be about a 10% margin of error plus or minus what the actual price that they put up there.

Mark Schreier :     I will tell as a realtor, I've seen a lot worse than that. I've seen some times it's pretty accurate and sometimes it's way off the mark. Now understand you are trying to sell your house on your own and people who are utilizing the Zillow platform are looking at that Zestimate. And if your house is up here, let's say 600,000 and the Zestimate is at $550,000 now you have an uphill battle, A, those people will never call you because the buyers see that your $50,000 off the price and even though you're looking to sell it on your own, they want to save some money too. So $50,000 off the price is not something they want to get involved in. So you don't get that phone call or that lead. Now let's use another scenario. They see the price and the like and they see the Zestimate and it might be off and they're like, all right, I'm still gonna want more information about your property.

Mark Schreier :     And they click contact agent and you'll see that, uh, up here as well. I don't know which side is going to show on this screen, so I'll go like this. Okay, you'll see it up here and it says contact agent. And when you click contact agent, if you notice, if you're a for sale by owner, you are on the bottom, the bottom of that choice. The first one is the agent that the agents that have paid to be on that site. So if you click contact agent, and I believe it, even if you didn't click anybody, you will automatically go to, and I didn't test this so you can leave a comment below if in fact I'm wrong, but I'm pretty pretty sure it's going to go to the paid agents. So if they clicked number one, two, or three, that's not going to you, that buyer requesting information about your house, the information is going to them.

Mark Schreier :     And if you don't want to entertain buyer brokers, um, which basically means an agent can sell your house. If it's not on the multiple listing service and be guaranteed that they'd get a commission, then you're not getting that phone call from that agent or you'll get the phone call, but you won't get the lead. Number two, that agent can decide to try to sell the person looking to buy the house or something else because if those are on the MLS, they're guaranteed a commission. If in fact they are able to move forward and a sell that house to them. So the leads that you're looking for aren't getting to you. So is it actually free or is it actually doing you a disservice? If you like this video, please give me a thumbs up. If you didn't like it, you can give me a thumbs down.

Mark Schreier :     I am always up to constructive criticism. Please leave comments below on any of the topics you'd like me to discuss moving forward. This is Mark Schreier from century 21 American Homes Real Estate. Hello? Yes, I'm talking to you, the person that watched my video to the very end. Thanks a lot for watching. If you enjoyed it, please give me a big thumbs up. Subscribe to my youtube channel like me on Facebook. I am a licensed real estate agent in New York state, but I also have a referral service that deals nationwide. So if you're looking for to buy or sell a house anywhere in the United States, please send me a text, contact me via phone, and I'll set you up with a local professional in your area. If you're in my vicinity, I'd be more than happy to help you out in any of your real estate transactions that you'd like. This is Mark Schreier from century 21 American homes, and I'll talk to you soon.

Plainview, N.Y. Market Report August 2019

Plainview, N.Y. Market Report. Residential real estate closings and under contracts for August 2019 in the town of Plainview, N.Y. School District #4 POB. Mark Schreier Licensed Sales Associate with Century 21 American Homes Real Estate discusses closings, under contracts and absorption rate for Plainview, New York.

Question/comments 

email: Realtor@markschreier.com

Cell: 516.263.9094

Website:

http://bit.ly/2xLPW51learnmore

Making Dreams Come True One Home At A Time

Transcript of video:

Hello everybody. This is Mark Schreier from Century 21 American Homes and we are at the beginning of September, 2019 and that means a market review for the month of August. Today's town I'm going to be covering is Plainview, NY. I almost said Syosset but Plainview long island school district four POB or Plainview old Bethpage school district. If you would like a market review for your town in the next video, definitely leave it in the comments below or instant message me and I'll be more than happy to accommodate and make a market review for your town in the coming videos. Uh, let's start with the data and I got a lot of it. Um, I'm going to be putting this information up on the screen behind me while I am talking about it. But let's start with the particular under contracts for Plainview Old Bethpage. The month of from August 1st to August 31st, 2019 27 houses actually went to contract this month.                                       

27 houses went under contract. Would a total, uh, or main or average list price of $623,357 and the median price of 599 k the original price of those houses when they first went on the market was six hundred thirty six thousand three hundred fifty four was the actual original price, um, mean or the average of the original listings. And they went down a little when they actually went on to contract. Let's now check out the same thing. School district four the actual houses that close for that month, there was 600 and uh, excuse me, there were 23 houses that closed compared to 27 that went to contract. 23 houses closed with the average selling price of $693,174 and the median price was 655,500 for the houses that actually sold in August. So we had 27 that actually went on to contract in August, 2019 and 23 that actually closed in 2019.

The other piece of information I'm going to put up is these sold property counts total. Now I'm just putting it up in a bar graph chart that you can see it and a regular graph that you'll see a linear graph on the side, but the numbers are slightly different. We have 23 here and there just goes to show you a, uh, how statistics works depending upon where you pull the data. And this data has been pulled from multiple listing service, but it could be off by a day or maybe they pulled this in the afternoon and this they pulled at a different time. But this says a current, the amount of houses that sold it as a or pass title 22. And then if one piece of information that I find interesting, this is comparing three years, August of 2017, 2018 and 2019. So the current year, which is 2019 22 houses have actually passed title last year, 44 houses. That's a significant decrease in the amount of houses that actually pass title. But if you go for the other numbers, you'll see the change of percent change anywhere from 11.8 and then June was 9.7 these are all negative 9.7 down 12 and a half percent up 9.5 down 15% for March. So this is all data that realtors use or you can use to help figure out the tone of the market or the trends of the market. And another very important piece of information that you should use to figure out where the market is is something called absorption rate. And I'm going to include in this video a link to the video I made about absorption rate and getting into more detail about that and take all this information, put it together and it will help you decide whether or not we are in a buyer's market seller's market somewhere in the middle. Um, I hope this helped you somewhat. If you need, if you have any questions, please include them down below or instant message me. This is Mark Schreier from Century 21 American Homes. Please. If you haven't subscribed to my YouTube channel, give it a thumbs up. If you didn't like it, give it a thumbs down and definitely hit the notifications button. If you subscribe to the channel so you can be notified whenever a new, uh, whenever I upload a new video on different topic, I'm always looking for topics to include in these videos. Again, instant message me or include them on the bottom. If you have a certain topic in mind. Mark Schreier, thanks. Hello. Yes, I'm talking to you, the person that watched my video to the very end. Thanks a lot for watching. If you enjoyed it, please give me a big thumbs up. Subscribe to my YouTube channel like me on Facebook. I am a licensed real estate agent agent in New York state, but I also have a referral service that deals nationwide. So if you're looking for to buy or sell a house anywhere in the United States, please send me a text, contact me via phone and I'll set you up with a local professional in your area. If you're in my vicinity of the more than happy to help you out in any of your real estate transactions that you'd like. This is Mark Schreier from Century 21 American H omes, and I'll talk to you soon.