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Does An Easement Affect Property Value?

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Easement

It depends on the circumstances. Generally, it does not; however, each situation is different. A common example of an easement is when a utility, such as an electric company, has access on and/or over a property. This is a grant for utilities to maintain their services. Another example of an easement is when a driveway is paved on your land for the benefit of an adjacent property, allowing them use of your land to access theirs.

Basically, an easement is a right granted to a person or entity for limited use of real estate, or a portion of it. It can be for a general use or for a particular purpose. The real estate subject to the easement is sometimes referred to as the “Servient Estate.”  If a person is purchasing property that is subject to an easement, it may be a servient estate. An example of an easement is a right-of-way for the ingress and egress (access) to property. In other words, the right to travel across a portion of the servient estate in order to reach or leave the “dominant” real estate. Therefore, it is important to determine if an adjacent or nearby owner of property has the right to cross the property in order to enter or use their property if there is an easement established.

Easements may arise from agreement or by operation of law. An agreement for an easement is typically set forth in writing and is signed by the parties agreeing to it. Easements may be for a set period of time, but often run with the land. This means that even if one of the parties agreeing to it conveys or transfers his/her real estate, the easement still applies to the real estate affected by it whenever a new party takes ownership.


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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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