When you look out the window of a potential real estate investment, you’re probably checking out the state of the neighbor’s property, worrying about spotting potential maintenance or landscaping issues, or evaluating how much you can charge for a fantastic view. However, you ought to be doing something far simpler as well: adding or subtracting at least two weeks from your potential time on market. It may be difficult to believe, but Realtor.com researchers recently analyzed millions of listing records from just the past three months and determined that certain common views can actually add or subtract as much as two weeks from the amount of time that elapses between when you list a property and when it sells.
Now, as you well know, I’m going to get right to that very timely (haha) information, but first I want to take 30 seconds to mention something else that will directly affect your bottom line: your floor plan. Recently, a lot of conflicting information has come out about what types of home features first-time buyers, who tend to be part of the millennial generation that came of age during the housing and financial crises and have never lived without Facebook, Instagram, Twitter, and other social media, truly want in a home. Well, good news: if you’re thinking you’re going to sell to these buyers, the U.S. Commerce Department and the National Association of Realtors recently released a study that indicates exactly what these millennials say, in their own words, they want in a home. It’s not the conventional wisdom either, so you need to check out our brief report, “Top 3 Things Today’s Buyers Will Pay For,” in the News & Networking Section at www.REI.Today.
Let’s get back to that room with a view now, shall we? According to Realtor.com, homes with urban views (that’s basically a city view, with a city skyline being the most attractive version) spent 15 days fewer on the market than homes with what you’d probably think would be a more attractive view, an ocean view. City views spent an average of 83 days on market across the entire country, while ocean views spent 98. By comparison, golf course views spent 90 days, Lake views spent 95 days, and mountain views spent 96 days.
Of course, a view is not ever the only factor you should consider when investing in real estate, but this research can give you a leg up if you’re considering buying a property that you’d prefer to move a bit more quickly while still going for top dollar. If you really want to make an investment property move fast, however, then I suggest something that is far more reliable and predictable (and frankly, far, far speedier) than the view out the window. We’ll talk about a system that is easy and cheap to implement that can help you move your properties in days – if not hours – in the next episode.
Want more information on that study about the best and worst views? I’ve got all the details locked up tight in the REI Today Vault, so head on over to www.rei.today/vault right now to check out this really interesting report. Not yet a member? Get access now by texting REITODAY no spaces, no periods, to 33444, and I’ll provide fast, free access to that information as well as a lot more seriously insightful stuff that will make your real estate investing safer, faster, and more profitable. So just text the word REITODAY with no spaces or periods to 33444 or visit REI.Today/vault to get access now…
When you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country! Just text the word REITODAY with no spaces or periods to 33444 or visit REI.today/vault right now for your free membership.
REI Nation, thanks for listening in, and always remember this:
Your best investment is your OWN education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.