Ari Koufos
REALTY EXECUTIVES | 617-799-8948 | ari@arikoufos.com


Posted by Ari Koufos on 1/5/2021

Real estate market data is readily available to home sellers across the United States. With this information at your disposal, you should have no trouble maximizing the profits from your home sale.

Now, let's take a look at three real estate market data that every home seller needs to check out before listing a residence.

1. Prices of Comparable Houses

Let's face it – determining a competitive price for your house may prove to be difficult, regardless of your home's age or condition. Fortunately, if you analyze the prices of comparable residences in your city or town, you can better understand how your house stacks up against the competition and price it appropriately.

Furthermore, it may be beneficial to conduct a home appraisal prior to listing your house. This appraisal enables a home expert to assess your house both inside and out. Then, you'll receive an appraisal report that contains a property valuation, which may help you determine a competitive price for your house.

2. Prices of Recently Sold Houses

Are you preparing to enter a buyer's or seller's market? Review the prices of recently sold houses in your area, and you can find out whether the current housing market favors buyers or sellers.

If home sellers are receiving offers at or above their initial home asking prices, now may be an ideal time to list your residence. Thus, you may want to add your house to the real estate market sooner rather than later to capitalize on a housing sector that likely favors sellers.

Conversely, if home sellers are receiving offers below their initial home asking prices, you may want to allocate significant time and resources to find ways to improve your house. Because if you enhance your house's exterior and interior, you may be able to help your house stand out from the competition and increase the likelihood of a profitable home sale.

3. Average Amount of Time That a House Is Listed

Check out how long houses stay on the real estate market before they are sold – you'll be glad you did. With this housing market data in hand, you can assess the pulse of the real estate market and map out your home selling journey accordingly.

If you need help collecting or analyzing real estate market data, there is no need to worry. Hire a real estate agent today, and you can gain the insights that you need to make informed decisions throughout the home selling journey.

A real estate agent is a housing market expert who is happy to help you in any way possible. He or she will provide recommendations about how to price your house and improve your home's interior and exterior. Plus, a real estate agent is available to respond to any of your home selling concerns or questions, at any time.

Ready to list your home? Review the aforementioned housing market data, and you can obtain deep insights into the real estate sector prior to selling your house.





Posted by Ari Koufos on 11/17/2020

Photo by Billion Photos via Shutterstock

When homeowners start thinking about selling, the first thing they want to know is, “How much can I sell my house for?” Your real estate agent's task is determining the fair market value with a range of prices from low to high. The spread between the two values typical is not large and only leaves a little wiggle room for the seller to negotiate. 

Determining the Value

The challenge is that there is no one value for a home on the resale market. Several values go into determining the number. These can include the assessed value (what the local government taxes it on), the appraised value (what a certified and licensed appraiser determines it's worth), the market value (this can go up or down depending on supply and demand) and what the owner needs from it in order to move to the next place. Even among appraisers, the same house might have several different values depending on what that appraiser noted; although, they’re usually fairly close.

The Homeowner’s Price

When a homeowner has a price in mind that they’ll sell for, it may come from several factors:

  • How much they owe on the first mortgage
  • Whether or not it has a second mortgage or HELOC (home equity line of credit)
  • How much they originally paid in the down payment and closing
  • What they’ve spent in renovations and upgrades

How Your Agent Determines a Price

A professional real estate agent may give you an estimate of the market value of your home within a range. These numbers come from comparable residences in similar condition, homes that sold recently and the prices of homes on the agent’s MLS. Additionally, if the agent knows that a bidding war might happen, they’ll factor that into the suggested price too. 

How Overpricing Could Hinder a Sale

There are several reasons that overpricing your home might hinder a sale. Here are the main ones:

  • Your price puts your listing outside the search parameters of potential buyers. Even if you’re willing to negotiate and come down a ways, a buyer won’t know to ask because your home is not on their radar.
  • If your home does come up in a search, it will be because the buyer is looking for homes in that price range. But if yours fails to match similar homes in their price point, yours will drop to be the last one they look at.
  • An overpriced home can spend longer sitting on the market, languishing there as the MLS adds numbers to the “days on the market” category. Often, buyers assume a home sits unsold on the market because there is something wrong with the property or the seller is difficult to work with.

If you need to sell your home quickly, and for top dollar, trust your real estate professional to guide you in setting the price.




Tags: home seller   appraisal   pricing  
Categories: Real estate  


Posted by Ari Koufos on 1/28/2020

If you’re planning on buying a home in the near future and are confused about many of the terms associated with mortgages, you’re not alone. Real estate is its own industry with its own set of processes, terms, and acronyms. If you’re new to the home buying process, there can be somewhat of a learning curve to understand what each of these terms means.

Since buying a home is such a huge investment and life decision, there’s a lot of pressure on home buyers to make sure they get everything right. This makes for a stressful situation for buyers who don’t feel like they understand the terminology of things like mortgages, appraisals, credit reports, and other factors that contribute to the home buying process.

To alleviate some of those concerns and to make the home buying process run more smoothly, we’ve compiled a list of the most common, and most commonly confused, real estate words, terms, and acronyms. That way, when you’re talking things over with your real estate agent or your mortgage lender, you’ll be confident that you understand exactly what’s being considered.


Read on for our real estate terminology glossary.

  • Adjustable rate mortgage (ARM) - This is one type of home loan. Mortgage rates with this type of loan fluctuate throughout the repayment term of the loan. The fluctuation is based on a market indicator.

  • Fixed rate mortgage (FRM) - Another type of home loan, a fixed rate mortgage has a rate which does not fluctuate, remaining constant for the life of the term, most commonly 15 or 30 years.

  • Appraisal - An appraisal is the determination of the value of a property. Appraisals are used when purchasing and selling a home, as well as when refinancing a home loan. Appraisers are required to be licensed or certified in each state and are usually paid for by the lender.

  • Appreciation - An increase in a property’s value, most commonly due to market inflation, or the general increase in home prices over time.

  • Depreciation - A decrease in a property’s value, due to either market deflation (uncommon) or the wear and tear on a home that comes with age.

  • Closing costs - The costs and fees that a buyer is responsible for when purchasing a home or taking out a mortgage. These include underwriting fees, inspections, appraisals, transfer taxes, and more. Closing costs typically range from 2% to 5% of the total loan amount.

  • Contingency - Home purchases have contracts to protect the interest of the buyer, seller, and lender. Contingencies are provisions designed to protect the buyer or lender should something occur in the time leading up to closing on (or purchasing) the home. One common contingency is the buyer’s right to have a final inspection of the home before closing to ensure no new issues with the home have occurred.

  • Private mortgage insurance (PMI) - Buyers who cannot afford a down payment of %20 typically are required to take out a private mortgage insurance policy. This policy protects the lender should the borrower default (fail to repay or meet the conditions of their loan).







Posted by Ari Koufos on 5/7/2019

You can make money by investing in real estate. One way you can do this is by flipping houses. Flipping a property refers to when you buy a house to sell it for profit. The purchase is a short-term investment that requires much planning as it could be quite dicey. Buying a home to sell is a great way to make money, but it requires skill, careful consideration, research, and sometimes pure luck. No matter what kind of property you decide to invest in, there are many things to consider when you are getting ready to start flipping houses.

There are two main types of house flipping:

- A real estate investor purchases a house that could potentially increase in value if repaired and updated. After completing the renovation, the investor makes money from selling the home for a higher price than the total cost of the purchase and improvements.

- A real estate investor identifies an undervalued property in the market in a neighborhood with fast-rising home values and holds the property for some time until the house has a higher value. They then resell the house profitably.

Common types of property to flip

- Single-family houses: These are the most common types of homes to flip. These include bungalows, semi-detached houses, townhouses, and freestanding homes. They are the easiest to buy and sell as they are most readily available.>

- Multi-family residences: You can renovate the existing units or add more units to the property to make it more attractive to buyers.

- Retail properties: You can buy a property and restore it to make it suitable for specific use as a restaurant, bar, or store.

- Land: This is the most difficult as there are more processes involved and building on a new property is more expensive than renovating an existing one.

Benefits of house flipping

- You have a significant level of control over many elements of the project through research and analysis

- You can flip any house as long as it fits your needs and requirements.

- The team you hire can significantly influence the success of your flips like an experienced real estate agent, an interior decorator, and a reputable contractor.

Disadvantages of house flipping

- You might lose your money if you don't get all the expenses right or you run into unexpected costs

- Sometimes you have to pay capital gains taxes when you sell a house.

- You may end up spending more than you should on a home if you misjudge the neighborhood.

If you are looking to start investing in real estate, flipping houses is a great way to start. Speak to a real estate agent and an experienced contractor to begin.





Posted by Ari Koufos on 4/16/2019

Are you unsure of how to price your home before putting it up for sale? Do not forget that the value of your home depends majorly on its appearance and amenities. Therefore, you can improve the look of your home by carrying out thorough cleaning, sprucing up the lawn, getting rid of things that take up space unnecessarily, and many other simple things. Here are some ways to ensure your home spends as little time as possible on the market:

Price your home competitively

When you choose to sell your home, one of the most important decisions is to set the appropriate price for your home. Be careful when setting a price because when the price is too high, buyers get turned off and when it is too low, you may probably sell at a loss. So, one robust and powerful method for pricing your home is to look at the prices of other homes that are in the same category as yours. When you do this, you will have a better understanding of the most appropriate listing price range to consider.

Make use of strategic price points

You should know that homebuyers tend to go for homes that have price ranges separated by an increment of five to ten thousand dollars. It is therefore essential to set your price close to these natural price points. For example, when you set the value of your home at $229,900, you will get the same number of buyer inquiries as a price of $227,900. The logic is that you would widen your prospective buyer pool if you set the cost of your home at the next lower price point which is $224, 900.

Consider value-range marketing

Value-range marketing is another result-oriented pricing strategy to consider. It involves selecting a listing price based on what you would sell for today provided a buyer gave you a check. Then, you should set a second amount that is lower, that you wouldn't reject if a buyer decides to buy your property at that price. Therefore, you can consider listing your home as "$386,000 or best offer" instead of just listing at a fixed amount of $386,000.

Hire an experienced listing agent

Hiring an experienced listing agent is an excellent idea, but you should go for an agent that is familiar with your local market and is aware of the values of homes that are similar to yours. When a listing agent has this knowledge, they will know the exact amount of your home based on your local market.




Tags: Real Estate   home seller   how to  
Categories: Real estate   home selling   how to