home buying Archives - Real Estate News and Commentary

October 24, 2025October 24, 2025

Homesale Online Comments

The internet has made it easy for everyone to share opinions, even about homes for sale. On popular real estate portals, you can sometimes find comments from agents or even consumers. These online comments may seem to be an attempt for transparency, but the comments are only opinions. While homesale online comments may be well intentioned, these comments can also create confusion or even hurt a sale.

The Pros and Cons of Homesale Online Comments

For Buyers, the Pros:

Extra insight beyond photos: Comments can tell you things the pictures don’t, such as noise, smells, or condition.
A buyer can save time if comments point out issues that could affect their decision, like poor maintenance or a tricky layout.
A buyer agent’s comments can help buyers compare opinions to the polished listing language.

For Buyers, the Cons:

These are opinions, not facts. Comments are personal. One person’s “too small” might be another person’s “cozy.”
Outdated information. Homes change. Repairs, paint, or new staging can make old comments misleading.
Can create bias. A negative or overly strong opinion can dissuade buyers from touring a perfectly nice home that might actually fit their needs once seen in person.

For Sellers, the Pros:

It’s feedback. If multiple comments say “needs updates,” that’s input that a seller can use for pricing or staging decisions.
Transparency builds trust. A seller who embraces honest feedback can come across as more credible.
Chance to improve marketing. Knowing what people are saying helps agents adjust photos, descriptions, or even small home fixes.

For Sellers, the Cons:

Comments are often unfiltered. Online comments can sound harsher than intended and can make a home look worse than it really is.
Opinions can hurt a sale. Comments, especially from consumers or agents who didn’t see the full picture, are just opinions, but they can spread quickly and turn off potential buyers before they ever schedule a showing.
Older comments may still appear online, even after a seller renovates, shaping perceptions unfairly.
Sellers and their agents can’t always edit or remove third-party comments, even if they’re misleading.

Bottom Line

Online comments about homes can be both a blessing and a curse. For buyers, they add information. But it can also create unfair impressions. For sellers, they can provide useful feedback, as well as unwanted “digital baggage.”

If you’re a seller and find comments that are outdated, inaccurate, or unfair, you can request removal through the portal (website) where they appear. However, success varies. Some platforms, may only remove comments under specific conditions.

Take all online comments with a grain of salt. If something catches your attention, good or bad, should be confirmed in person.

By Dan Krell

Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.

What’s your home worth?

August 26, 2025August 26, 2025

AI and Real Estate Transactions

Pros and Cons of AI and Real Estate transactions

Artificial Intelligence has become part of everyday life. People are using AI to plan meals, write emails, and even help with schoolwork. The trend is now to ask AI about real estate: “What’s my home worth?” “What kind of loan should I get?” or even “Which real estate agent should I hire?”

AI can be a powerful tool, but is it the right way to handle big real estate questions? Let’s break down the pros and cons in simple terms.

Why AI Can Be Helpful

One of the biggest advantages of AI is to quickly provide one answer from an internet search. If you want quick answers about average home prices, what closing costs are, or the steps in buying a house, AI can give you one answer in a few seconds. That’s a lot faster than sifting through dozens of websites.

AI is also always “on.” You don’t need to wait. Whether it’s late at night or early in the morning, you can get one explanation anytime.

Another plus is how AI simplifies complicated topics. Real estate has its own lingo. Concepts like “contingencies,” “escrow,” or “earnest money” can be broken down into plain English, which is especially helpful if you’re brand new to the home buying and selling process.

And finally, AI can serve as a useful starting point. Before you meet with a real estate agent, you can explore the process of buying and selling a home with AI to learn the basics. This can prepare you to ask specific questions from a professional about your situation.

Where AI Falls Short

AI also has limitations, especially when it comes to specific and personal decisions about local real estate.

First, AI isn’t always accurate. It pulls from a wide range of information, but it doesn’t always know if what’s shared is current, specific to your area, or correct for your situation. For example, real estate laws, property taxes, or rules about contracts vary widely from state to state, and can also be different within any specific state, depending on the county or city. AI might give you a broad answer, but it could mislead you because the information is not pertinent to your situation.

Second and most important, AI can’t replace human experience. Choosing the right agent, deciding what price to offer, or knowing how to negotiate are things that require local knowledge, judgment, and real-world experience. No algorithm can read the room during a negotiation.

Another drawback is the lack of personal touch. Real estate isn’t just about facts and figures; it’s about personal connection. Do you need a bigger home for a growing family? Are you looking for a place close to work? Do you want an investment property with good rental potential? A skilled agent asks these questions and tailors advice to you. AI cannot connect on the same level as another person.

And perhaps most importantly, not all real estate agents are the same. Every agent has their own strengths, style, and way of working. Some are better with first-time buyers, while others shine in luxury markets or investment properties. Finding the right one is truly a personal choice. Choosing the right agent is about trust, communication, and whether you feel comfortable working together. AI can suggest what to look for, but it can’t tell you who will truly “click” with you.

The Bottom Line

AI can be a fantastic tool for learning. It’s fast, easy to use, and helps you cut through some of the confusion that comes with real estate jargon. If you’re just starting out, it can help learn about the home buying and selling process.

But when it comes to the big stuff, such as choosing an agent, making an offer, or selling your home, there’s no substitute for the human expertise. A trusted local agent who knows the market and understands your goals, someone who can guide you through the details in a way that a AI can’t.

Think of AI as a reference book, much like an encyclopedia. It can show you the general landscape and explain the rules of the game. But when it comes to actually making offers, negotiating, and closing the deal, you’ll want a real estate professional by your side. A key take away is that finding the right agent isn’t just about teams, sales stats, and an AI reply, it’s about finding the person who fits you best for your situation.

By Dan Krell
Copyright © 2025

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August 1, 2025August 1, 2025

Rent or Buy Which Is Right for You?

The housing market has shifted, and the classic Rent vs. Buy debate is just as polemic today as it has been in recent years. For many, elevated interest rates and strong home prices makes renting seem cheaper than buying on a month-to-month comparison. However, a long term comparison tells another story. So let’s dive into Rent or Buy Which Is Right for You…

Renting

Renting continues to offer flexibility and fewer responsibilities. Monthly rent could be several hundred dollars less than a comparable mortgage payment at any specific time.

Pros of Renting:

Lower upfront costs (no down payment, closing fees)
Flexibility to move without selling
No maintenance or property taxes

Cons of Renting:

No equity or ownership: your payments build your landlord’s wealth, not yours
Rent increases: in recent times rising 4–8% annually
No Deductions or long-term financial gains

Buying

It’s not a secret that the cost of buying a home has risen. However, even with rising costs, homeownership offers long-term financial stability and wealth-building that renting cannot match.

Pros of Buying:

Builds equity: every payment adds to your net worth
Fixed mortgage payments: protection from rising rents
Potential appreciation: Although, markets vary, homes have gained about 40% over the past decade.
Deduction: Deduction on mortgage interest and possibly other costs (consult your tax preparer).

Cons of Buying:

Higher upfront costs (down payment, closing costs)
Responsibility for repairs, maintenance, and taxes
Less flexibility if you need to relocate

The Long-Term View

While renting may make financial sense in the here and now, it’s inherently short-term thinking. Renters face annual increases and no return on their monthly payments. In contrast, homeowners benefit from predictable mortgage payments (usually a fixed amount with a fixed rate mortgage) and the opportunity to build equity over time. As rents continue to rise, the long-term gap between renting and owning grows wider, often making ownership the stronger financial investment over 5 to 10 years.

Is Buying for Everyone?

Buying a home is not for everyone. Buying a home is a major commitment. If you plan to move within a couple of years, have unstable income, or don’t want to handle maintenance, renting may be the better choice. The key is aligning your housing choice with your lifestyle and financial goals.

The Bottom Line

Renting may be cheaper in 2025, but it’s a short-term solution. Over the long run, homeownership remains one of the strongest paths to building wealth and stability.

If you’re on the fence, it’s worth running a custom rent vs. buy analysis with your real estate agent to see where you stand. You may be closer to owning a home than you think.

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By Dan Krell
Copyright © 2025

July 11, 2025July 11, 2025

The Wrong and Right Ways to Value a Home

Stop Guessing: The Wrong & Right Ways to Value a Home

When buying or selling a home, knowing the actual value is critical. Yet so many people, buyers and sellers alike, lean on quick rules of thumb or “word on the street” ideas that can be wildly off base.

Let’s break down the most common mistakes people make when trying to figure out a home’s value, and what actually works.

Wrong and right ways to value a home: Common Mistakes Buyers & Sellers Make When Valuing a Home

Mistake #1. Trusting online estimates from portals

It’s tempting to check a website, see a dollar figure pop up, and take it as gospel. But online estimates are based on broad algorithms. They’ve never walked through your home, smelled fresh paint, or noticed the outdated HVAC. The real estate portal might be $20,000 or $50,000 off (sometimes more). These tools are helpful for getting a ballpark, but they’re rarely accurate enough to make big financial decisions.

Mistake #2. Taking a neighbor’s word for it

We all know someone who claims, “My house down the street sold for $650,000!” But did it actually close at that? Was there a huge seller concession? Did it include extra acreage or high-end upgrades? Relying on neighborhood chatter is a fast way to misjudge your own situation.

Mistake #3. Looking at active listings instead of sold homes

An active listing shows what a seller hopes to get, not necessarily what the market will pay. You need to look at recent sales, because that’s the only place where money truly changed hands.

Mistake #4. Using the tax assessment

Your county’s assessed value is mainly used to calculate property taxes. It may have been updated years ago or rely on broad mass appraisals. It’s almost never aligned with today’s true market value.

Mistake #5. Doing simple “price per square foot” math

This is one of the most common mistakes, and one of the most misleading. People will say, “Homes around here sell for $250 a square foot, so mine should be worth $500,000.” But homes aren’t priced like bulk flooring.

Small homes usually have a higher per-foot cost because of the kitchens, bathrooms, and mechanical systems, which are the most expensive areas.
Larger homes often have a lower per-foot cost, even though they may cost much more overall.
Plus, upgrades, lot size, views, pools, floor plan efficiency, or even just charm can dramatically shift value in ways a price per foot misses.

While price per square foot can provide a rough benchmark, it’s never the whole story.

The Right Way: Use Comparable Sales (Comps)

If you really want to know what a home is worth, you look at comparable sales, or “comps.”

What are comps?

Recent sales of homes that are similar in size, age, condition, and location.

Why it matters:

These show what buyers have actually been willing to pay in your area, under real market conditions.

Adjusting for differences:

A good agent doesn’t just look at raw numbers. They’ll adjust for differences , like adding value for your new roof or subtracting for that home’s finished basement when yours is unfinished.

A thorough comparative market analysis (CMA) by an experienced local agent pulls all of this together, so you see a realistic range that reflects both the hard data and the nuances of your home’s appeal.

The Bottom Line

Pricing (or offering on) a home based on guesses, online calculators, neighbor rumors, tax records, or simple square-foot math can leave you badly misinformed. Whether you’re buying or selling, the smartest way to protect your money is to use real, recent comparable sales with expert adjustments.

What’s your home worth?

By Dan Krell
Copyright © 2025

April 3, 2025April 14, 2025

Myth-Busting, Home Selling Edition

Myth-Busting Home Selling Edition

The Home Seller Myth-Busting Guide – The Truth About Selling Your Home

Getting bad information can be costly when selling a home. Unfortunately there’s a lot of misinformation being spread about selling homes these days. Some from social media, and some even from real estate agents. Myth-busting requires you to be mindful of what you’re hearing from others and the media, including real estate agents! If something doesn’t sound right – question it, and if necessary get a second opinion.

Here’s the truth behind some of the most common myths:

Myth #1: You MUST Offer a Buyer’s Agent Commission, or Your Home Won’t Get Shown

There is no requirement for a seller to offer a Buyer Agent commission

❌ False: “You must offer Buyer Agents compensation or your home will not get shown”
✅ Truth: Buyer agents are obligated to show properties that fit their clients’ needs, regardless of seller compensation. There is no requirement to offer a set Buyer Agent commission in order to have buyers visit the property.

Myth #2: You Must Spend Thousands on Staging & Updates to Sell

❌ False: “All renovations will help you get more money for your home.”
✅ Truth: Not all renovations give a return on investment. Strategic, minor updates like cleaning and decluttering can be more effective.

Myth #3: The First Offer is Always the Worst Offer

❌ False: “The first offer is often too low, wait for a better offer.”
✅ Truth: Waiting too long can lead to lower offers over time. Serious buyers often act quickly.

Myth #4: You Should Overprice Your Home to “Test the Waters” & Lower It Later

❌ False: “Price your home high to see if you get a buyer, and you can always lower it.”
✅ Truth: Pricing it right from the start attracts serious buyers and better offers. Overpricing leads to longer market times and price reductions.

Myth #5: There’s a “Secret” Way to Bring in Buyers

❌ False: “Exclusive buyer pools” are better than the MLS.”
✅ Truth: The best exposure comes from MLS listings and strategic marketing. The MLS spreads your listing worldwide—providing the most exposure to home buyers.

Myth #6: All Agents Are the Same

❌ False: “There is no difference in what agents bring to the table.”
✅ Truth: Experience and marketing strategies vary. An experienced, full-time agent ensures a smooth process and maximized profit.

The Bottom Line

Getting the correct information from real estate agents is key in making decisions that are in your best interest. Exercising due diligence when interacting with potential listing agents can help you see through the deceptions and obfuscations.

What’s your home worth?