2024's Best Week to Sell 📅

Today’s top stories…

• Discover the best week to sell your home in 2024

• Airbnb insurance and how to protect your investment

• Market Madness: 8 slam-dunk housing markets for 2024!

• 🔥 Deal of the Day! 🔥: 2 bd | 2 ba | Wimberley, TX

Today’s mortgage rate (30 Yr. Fixed): 6.92%

The Magic Week to Sell Your Home in 2024

Want to know the best time to sell your property in 2024? Realtor.com crunched the numbers, and the week of April 14-20 is your golden ticket!

Prices are expected to be 1.1% higher than the average week and 10.4% higher than the start of the year. In 2023, this translated to a whopping $7,400 above the average week and $34,000 more than January! Buyer demand is through the roof, with 18.4% more views per listing than the typical week. In 2023, it was even higher at 22.8%!

Homes sell 17% faster (about 9 days) during this week compared to the average. In 2023, homes sold in just 46 days, 6 days quicker than the year's average! Competition from other sellers is 13.7% lower, giving you a better chance to stand out. Fewer homes (24.6%) have price reductions during this week, meaning you're more likely to get your asking price!

Mortgage rates are expected to ease into the mid-6% range, and 40% of prospective buyers would find a home purchase feasible if rates dip below 6%.

So, if you're looking to maximize your real estate investment returns, mark your calendars for April 14-20, 2024!

Airbnb Insurance: What is actually covered?

Are you thinking about renting out your home on Airbnb? Before you start welcoming guests, make sure you understand the insurance implications.

While Airbnb provides hosts with a free insurance plan called AirCover, it may not be enough to fully protect your property. AirCover offers up to $3 million in damage protection and $1 million in liability coverage, but it has some notable exclusions. These include intentional damage, regular wear and tear, cleaning fees, and damage from natural disasters like hurricanes and earthquakes.

It's important to remember that your regular homeowners insurance policy may not cover Airbnb rentals if your insurer considers it a business activity. However, if you only rent out your home occasionally, your policy might extend coverage. The best way to know for sure is to speak with a licensed insurance agent.

If you need additional coverage, some major insurers offer short-term rental insurance specifically designed for Airbnb hosts. This can be purchased as an add-on to your existing policy or as a separate policy. Providers like Allstate, Proper Insurance, Erie, USAA, and Liberty Mutual offer these options.

Keep in mind that if you rent your home through other platforms like VRBO or Flipkey, you'll still need to consider insurance. Each platform has different coverage options, so it's crucial to understand what's provided and what gaps you may need to fill with additional insurance.

Don't let insurance concerns hold you back from maximizing your property's earning potential. Talk to an insurance professional to ensure you have the right coverage in place before listing your home on Airbnb or any other home-sharing platform.

8 Housing Markets to Bet Big on in 2024

First up, Lansing, Michigan, home to Michigan State. With a growing population, low unemployment, and a median home price of just $210,000 (half the national average!), this affordable Midwest gem is a cashflow king.

Next, we've got Oklahoma City, where you can score big city amenities at Midwest prices. Median home price? $226,000. Median rent? $1,300. Rent growth? A solid 3.98%. Plus, with a diverse job market, this market is a winner.

If you're looking for appreciation, Tampa, Florida is your market. With 11.8% home price growth in 2024 and a median price of $370,000, you can ride the wave of Florida's population boom. Surf's up!

Cincinnati, Ohio may not be the sexiest pick, but with 6% rent growth, a $250,000 median home price, and major employers like Kroger and P&G, this steady-eddie market is a solid choice for buy-and-hold investors.

For the Northeast, we're betting on New Haven, Connecticut, home to Yale. This affordable market (by Northeast standards) boasts 11% appreciation and 7% rent growth. Bulldog-strong returns!

Down South, Baton Rouge, Louisiana is attracting residents from LA and Dallas with its affordability and diverse economy. At $226,000 median home price and $1,351 median rent, there's room for cashflow and appreciation. Laissez les bons temps rouler!

Charleston, South Carolina is a slam dunk for flippers, with 9.3% appreciation and a median price of $418,000. Plus, it's ranked #1 for quality of living. Charm City for the win!

Finally, Greenville, South Carolina, home to Clemson, is a small market with big potential. With 5% rent growth, a $282,000 median price, and its prime location in the fast-growing Southeast, this college town is a smart pick.

There you have it. Eight markets, each with their own strengths. Whether you're chasing cashflow or appreciation, flips or buy-and-holds, these markets are worth a closer look. Game on!

🔥 Deal of the Day! 🔥

Price: $450,000

Address: 180 Link Ln, Wimberley, TX 78676

Nestled in the scenic hill country of Wimberley, Texas, this property likely offers a serene getaway with its potential for stunning natural views, close proximity to local attractions, and a well-appointed living space that promises comfort and a unique experience, making it an ideal choice for a memorable vacation rental.

Airdna data:

Estimated monthly payment: $3,014/month (if financed)

Estimated monthly revenue: $2,800/month

Cashflow excludes additional operating expenses. Always confirm local regulations, HOAs and permits before purchasing a property.

See you tomorrow!

✍️ Brett