Is It Better to Flip Homes or Hold Them?

The decision to flip properties or hold on to them for the long term depends chiefly on your own investment goals.  

 
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More and more people want to invest in real estate these days. In today’s market, is it better to fix up a property and flip it, or to hold onto that property, either to live in or rent out? Honestly, it depends. What are your goals? If you’re looking to make some quick cash, then flipping homes is probably a better strategy. You can move a property and see a profit within a few months. The biggest downside to this strategy is that you will be taxed on this quick income exactly as if it were part of your regular annual income. If your goal is a long-term investment, then holding on to the property may be a better strategy. When you buy and hold property over a period of time, its value will typically appreciate over a period of time. Note that the market is not always predictable, and it will expand and contract occasionally, so property values will rise and fall, but over the long run, values trend upward.

Property values fluctuate with the market, but rental properties produce a stable, monthly income regardless of the property’s market value.

Looking back at market values from 20 to 30 years ago, it’s clear that prices have gone up! In addition, rental income on property owned is an excellent investment strategy. Real estate that is cash flow producing for you will pay you every single month. By obtaining financing, you can leverage your investment to get a higher return on your down payment. If your strategy is long term, it’s definitely better to buy and hold and rent that property. Let it pay you every single month. If you do have a loan on it, the balance will go down every single month, which means you owe less and less. When it’s paid off, you own that asset free and clear and it continues to put money into your account every single month. If you need quick cash, flipping can be a good option. Again, it all depends on your goals. Honestly, many smart investors combine these strategies. They may do a quick flip to get enough capital to make a long-term investment, for example. If you have any questions about this or help with any other real estate questions, just give me a call or send me an email. I would be happy to help you!

When Is the Best Time to Sell Your Athens Home?

When is the best time of year to sell your home? There is no exact right or wrong answer, but if you plan on selling this spring, I recommend doing so sooner rather than later.  

 
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What are the best months of the year to sell real estate in Athens? I get this question from people who are wondering if they should list their house in the spring, early in the year, or at the end of the year. There is no clear right or wrong answer. More homes sell in the spring and fewer homes sell in the fall, but typically there are more homes for sale in the spring and fewer homes for sale in the fall. Since there are fewer homes for sale in the fall, there is less competition for sellers. In the spring, there may be more sales, but there is also more competition for sellers.

I recommend getting your home on the market before the big spring rush.

It really doesn’t matter that much. If you look at our real estate market, it does look like a bell curve. When you start in January, the market starts to go up, peaks around June, and then starts to slow back down. Things do slow down over the holidays. Now that school has started back up again, things will pick up and the market will get even busier in the spring. If you are thinking of selling your home in the spring, I don’t think you should wait until the grass is green and flowers are blooming. That’s when everyone else will rush onto the market. Instead, get on the market a little earlier. Buyers are out looking now and will continue looking in the spring. But you could sell your house now before you have to deal with all that spring competition. If you have any questions about the market in your specific neighborhood, just give me a call or send me an email. I would be happy to help you!

A New Year’s Resolution to Help You Grow as a Person

We’re always trying to learn new things so we can better ourselves, so we encourage you to do the same in 2018. 

 
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Now that 2017 is coming to an end, we have a couple thoughts we want to share with you and a possible resolution to fulfill if you don’t have one already. One of our core values at Woodall Realty is to never stop learning. This year, we’ve spent countless hours attending out-of-state networking conferences and workshops, doing online courses, reading books, etc. We’re always trying to learn new things and better ourselves. When we attend these out-of-state events, we meet with some of the top real estate agents in the country and learn from the best of the best. We do this so we can be the best agents in Athens and serve our clients at the highest level possible.

Learn something new this year.

We know a lot, but we don’t know it all, so I encourage you as we enter the new year to learn something new in 2018 and continue to grow as a person. My team and I will continue to grow and learn as well. If you’ve ever worked with us, you know this. Whenever we meet with people, one of our main goals is to educate them. Whether you’re a buyer or a seller, we educate you about the market and everything about the buying or selling process. So learn something new this year. Grow as a person. We’ll be doing the same thing. If you have any questions or there’s anything we can help you with, don’t hesitate to call or email us anytime. We’d be happy to help. Until then, happy New Year!