Serving Three Generations of Customers for Five Decades
Transforming the real estate experience with visionary people, products, and services.
Established in 1969 by Edward Underhill USMC Marine Corps World War II Veteran and his wife Florence Underhill, with a single office in Bridgeville. The family-owned Real Estate partnership has proudly served the Tri-State region in residential real estate, commercial real estate, and housing development. Founded as the Allegheny Appraisal & Research Company, the family business was an integral part of growing up in the Underhill household. Today, Edward and Florence’s daughter Laura carries on the family tradition through a 100% Female owned company. Through the years, we have grown to be one of the top real estate companies in the markets we serve. And with that success we also continue to be mindful of our purpose. It is to this simple philosophy, and to the exceptional people with whom we work, that we owe our past, present and future success. We have served thousands of families over the last 50 years
AARCO Realty Team: Focused on Better Outcomes
Selling a home every business day
Q: Should You Sell or Rent Out Your House?
Here are four questions to ask about whether to sell or rent your house to tenants.
A frequent question we receive when clients are moving to a new home is: “Should I sell or rent out my previous residence?” Some people consider renting it because they couldn’t sell it, couldn’t get the price they wanted, or think it’ll be a good investment.
To help you make this decision, there are four questions you need to ask yourself:
1. Do you want to be a landlord? Responsibilities come with this position. Sometimes tenants don’t pay their rent, repairs need to be done, you’re in charge of maintenance, and more.
2. Does the property have cash flow? After the rent comes in, are you earning money or losing it? If you aren’t gaining, (even if you’re breaking even) it’s not worth holding onto the property. If you do have cash flow, it may be better spent by investing it in a duplex, two-family, or multi-family house; these will have more cash flow potential than a single-family property.
“In most cases, you’re better off selling your former primary residence.”
3. Will the tenant take good care of it? Will the tenant take as good of care of the house as you would? In most cases, the answer is no. This was your home—how will that make you feel? Even if you’re fine with that, there are going to be costs associated with getting the property back to great condition when you decide to sell.
4. Will you have to pay capital gains tax? Once it turns into a rental property, you’re potentially subject to paying capital gains taxes. If you don’t close on a sale of the property two years after moving out, it’s considered a rental and you have to pay as much as a 20% tax on any gains you made on it. For all the details, check with your accountant.
As you may be able to tell, in most cases you’re better off selling your former primary residence.
If you have further questions about this or any other real estate-related topic, give us a call or send an email.
We would love to help you.
How We’ve Changed Home Showings
Since the COVID-19 outbreak, the process of showing homes has had to change.
During this stay-at-home period, real estate is considered an essential business, which means we can still operate by listing, showing, buying, and selling real estate. However, we do have to follow certain guidelines to keep our agents and clients safe.
For one, home showings must be done by appointment only, and no more than five people will be allowed into a home at a time—only the decision-makers in a family will be allowed. We’re also asking sellers to leave the home, since the fewer people there, the better.
Of course, we’re also practicing social distancing by doing our best to remain six feet away from each other when we go into the house, on top of wearing gloves and masks. The buyers will be instructed not to touch any surfaces, and any surfaces that are touched will be cleaned with sanitizing wipes. Furthermore, we’ve been putting up signs on our listings specifically stating that if the buyer is sick or has symptoms, we don’t want them to enter the premises.
“No more than five people will be allowed into a home at a time.”
Another option for sellers is to do virtual showings and listing videos to augment your listing photos. Buyers can then make an offer on your home subject to inspection.
In the end, even though stay-at-home orders have shaken up our process, you always have options moving forward.
If we can help you with your real estate needs during the pandemic, don’t hesitate to reach out to us. We’re here to help.
Is your home worth more than you think or have you priced your home out of the market?
Get an accurate AARCO Realty home value estimate
5 Dangers of Overpricing Your Home: All sellers want to get the most they can out of their home sale. However, there are some issues associated with listing your home for too high of a price.
We can discuss the five dangers of overpricing your property.
1. An overpriced home will lead to fewer showings. The fewer showings you have, the fewer chances you have to get an offer on your home.
2. An overpriced home will attract the wrong buyers. Buyers seek out homes based on their price brackets. If your home is missing the features and amenities of other homes within the price range you’ve placed it in, buyers are going to notice. Buyers who are looking in a given price range know what they want and expect from homes. You must price your home according to its true value so that you can capture buyers who will be legitimately interested.
“Overpricing your home when you put it on the market can be a huge mistake. ”
3. An overpriced home helps your competitors. If a buyer looks at your home and then visits another that is priced the same but comes with more features, your competitor’s home will look like a much better deal.
4. An overpriced home takes longer to sell. In some cases, overpriced homes may not sell at all.
5. An overpriced home that is later reduced won’t have the same impact. If you lower your home’s price after it has already been sitting on the market, it will lack the impact of a new home coming onto the market that was priced correctly from the start.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.