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Given the abundance of alternatives accessible today, finding the ideal rental property can be a difficult endeavor. Making the best decision necessitates a thorough evaluation of your needs, tastes, and budget, whether you’re looking for a charming condo in the center of the city or a large suburban property. We have gathered professional information to help you choose the greatest home that completely meets your particular requirements, so you can move through this procedure with ease.
Defining Your Priorities
Before beginning your search, take some time to list your priorities. Make a list of the “must-have” features, such as the number of bedrooms and bathrooms, if pets are permitted, and whether parking is available. A fitness center, pool, or in-unit laundry are a few other amenities to take into account. If you are clear on what you need, your search will be more effective and you won’t waste time on houses that don’t meet your demands. Additionally, keep in mind how crucial it is to place an emphasis on the neighborhood’s safety and security, especially if you have a family or live alone. To feel safe in your new home, research the crime statistics and general neighborhood safety.
Setting a Realistic Budget
A realistic budget is another critical step in locating the ideal residence for your requirements. Consider all of your expenses, including not only the monthly rent but also those for utilities, parking, and any security deposits. Experts recommend that your total housing expenses not exceed 30% of your monthly pay. You’ll be able to concentrate on homes that are within your price range and save needless financial pressure by creating a budget. Although sticking to a budget is essential, keep in mind that you shouldn’t give up too many of your must-have features. A location that meets the majority of your needs and provides comfort for the duration of your visit is worth the extra money.
Choosing an Excellent Location
The location is one of the most important elements to think about. Your everyday life and overall contentment with your new house can be greatly impacted by the neighborhood. Consider factors like proximity to a place of job or education, ease of access to public transportation, and local amenities like grocery stores, parks, and recreation facilities. If you’re looking for great apartments for rent in Charlotte NC, be sure to explore neighborhoods that align with your lifestyle and offer the amenities you desire. A seamless transition into your new rental will be facilitated by selecting a location that suits your needs and improves your daily living experience.
Conducting Thorough Research
Start doing extensive research on properties with your preferences and budget in mind. To view listings in your selected area, use online rental platforms, real estate websites, and local classifieds. Utilize search filters to reduce the possibilities available to you depending on your interests. It’s also a good idea to check reviews and comments left by previous tenants to get a better understanding of how the property is managed and how it’s generally maintained. Don’t be afraid to visit the neighborhood at different times of the day to get a sense of the atmosphere, traffic, and noise levels. You can make intelligent decisions and ensure that you don’t overlook any potential warning flags by doing a comprehensive study.
Evaluating Lease Terms and Conditions
It’s critical to thoroughly assess the lease terms and conditions of the houses you’re interested in as you reduce your options. Pay special attention to the lease’s term, any potential renewal conditions, and, if applicable, the rules governing pet fees and security deposits. Look out for any limiting language that can affect how you live, such as restrictions on decorating or subletting. Ask the landlord or property manager for clarification if there is anything you are unsure of. You can ensure a straightforward experience and find a place that feels like home by being completely informed about the lease agreement to assist you avoid any surprises or disputes in the future.
Seeking Professional Assistance
It can be difficult to navigate the market, especially if you don’t know much about local real estate. Seeking professional help in such circumstances can be really beneficial. You can obtain individualized advice from real estate brokers or rental companies based on your requirements and spending limit. By providing you with pertinent and appropriate homes, their experience can help you save time and effort. They may also help you with the application and lease processes, making the whole procedure easy and hassle-free. In order for your agent to adapt their search and uncover the greatest possibilities that meet your criteria, keep in mind to explicitly convey your expectations to them.
Selecting the ideal rental property for your requirements demands a calculated strategy and a clear understanding of your preferences. You’ll be well on your way to discovering the perfect place that meets your needs if you heed this professional guidance. Happy home searching!
Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates. Rental providers will not refuse to rent a rental unit to a person because the person will provide the rental payment, in whole or in part, through a voucher for rental housing assistance provided by the District or federal government.
A rental agent is your personal guide in the world of real estate rentals. While we often associate real estate agents with home purchases, rental agents specialize in helping you find the perfect apartment or house to rent. They’re the experts who know the rental market like the back of their hand, equipped with a deep understanding of local neighborhoods, rental trends, and available properties.
In this article, we’re diving into the world of rental agents and how they can be the game-changer you didn’t know you needed for your next living space. So, whether you’re a first-time renter or a seasoned tenant, let’s uncover how a rental agent can transform your search for your next apartment or house.
Should you use a real estate agent to find your next rental?
Using a real estate agent to find your next apartment or home offers many advantages that streamline the process and enhance your overall experience. These professionals possess in-depth knowledge of the local rental market, which can help them find properties that align with your preferences and budget. In highly competitive markets such as Los Angeles, New York City, Miami, and Boston, the role of rental agents becomes paramount in the quest to secure an apartment. However, it’s worth noting that rental agents are not exclusive to these larger cities; they are also present in smaller cities, offering valuable assistance to those seeking lease accommodations.
7 key ways a rental agent can help you
Navigating the rental market can be a challenge, but with a skilled rental agent by your side, you’ll have a seasoned expert to guide you. From finding the right apartment or house to handling negotiations and paperwork, here are the key ways a rental agent can make your renting journey a breeze.
1. Tailored property searches
A rental agent will curate a list of rental options that match your preferences, saving you time by presenting choices that align with your needs and budget.
2. Local expertise
With in-depth knowledge of the area, your agent will provide insights into neighborhoods, schools, transportation, and amenities, helping you make an informed decision.
3. Protection from scams
Rental agents prevent you from scams by verifying ownership, checking landlords, and ensuring legally sound leases, creating a safe rental process.
4. Schedule property viewings
Say goodbye to endless property visits. Your agent can schedule and coordinate viewings for you, ensuring you see the most suitable options without the hassle.
5. Communicate with landlords on your behalf
These agents act as intermediaries, communicating with landlords on your behalf to address queries, negotiate terms, and facilitate effective communication throughout the rental process.
6. Assist with lease negotiations
Leave the negotiating to the pros. Rental agents are skilled at securing favorable lease terms, rental rates, and other terms on your behalf.
7. Help you through the application process
Through the application process, rental agents provide the necessary forms, explain requirements, and assist with document submission.
How much do you pay real estate agents?
The cost of a real estate agent for rentals can vary based on factors such as location, market norms, and the specific services offered. Typically, you can expect to pay around one month’s rent or a percentage of one year’s rent. So if you rent an apartment in Tallahassee for $2,000 a month, you could pay anywhere between $2,000 to $2,400 if the agent takes 10% of the annual rent. However, practices can differ from region to region, so clarifying the terms and fees with the agent before entering into any agreements is essential. Consulting with the agent or agency upfront will help you understand the cost structure and any potential fees associated with their services in your market.
Where can you find a real estate agent that works with rentals?
You can find agents through various channels. A common approach is to search on reputable real estate agency websites, where agents often list their specialties and contact information. Additionally, requesting recommendations from friends, family, or colleagues who have recently rented properties can yield reliable referrals. Ultimately, online research, word-of-mouth referrals, and attending local events can help you find an excellent real estate agent to assist you in your apartment or home search.
The bottom line
In a nutshell, rental agents are your go-to resource for a stress-free renting experience. They’ve got your back, whether it’s finding the right place, protecting you from scams, or handling all the paperwork. So, whether you’re on the hunt for your first apartment or your rental dream house, partnering with a rental agent could be the key to a smoother, safer, and simpler renting experience.
According to the NAR, total existing-home sales — completed transactions that include single-family homes, townhomes, condominiums, and co-ops — waned 2.2% from June to a seasonally adjusted annual rate of 4.07 million in July. Year-over-year, sales slumped 16.6% (down from 4.88 million in July 2022). “Two factors are driving current sales activity – inventory availability and mortgage rates,” said NAR Chief Economist Lawrence Yun. “Unfortunately, both have been unfavorable to buyers.” As we can see in the chart below, since 2010, whenever rates rise, demand falls. When rates fall, demand picks up again. What happened with existing home sales in February was that we had three months of positive purchase application data as mortgage rates fell from 7.37% to 5.99%. We had a massive one-month print from 4 million to 4.5 million. After that, little has been happening with existing home sales — mortgage rates and home prices are too high to push growth.
No movement in purchase apps
Purchase application data year to date has 16 negative prints versus 14 positive prints and one flat print. So, there is little movement in either direction. If I swing back to November 9, 2022, then we have 21 positive prints. Hopefully, this shows you the power of forward-looking purchase apps data, which aren’t collapsing currently, but they’re not growing either. We are stuck at deficient levels but heading lower as mortgage rates have risen.
Now let’s look at the buyer profile and the days on the market. Days on the market are growing year over year, positive for housing, but still too low for my taste. You must understand that days on the market are seasonal, so we will be entering the timeline when the days on the market will grow. The key is to focus on the year-over-year data rather than the seasonal fall and rise.
@NAR_Research
First-time buyers were responsible for 30% of sales in July; Individual investors purchased 16% of homes; All-cash sales accounted for 26% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 20 days. #NAREHS
“Total housing inventory registered at the end of July was 1.11 million units, up 3.7% from June but down 14.6% from one year ago (1.3 million). Unsold inventory sits at a 3.3-month supply at the current sales pace, up from 3.1 months in June and 3.2 months in July 2022,” according to NAR.
Historical inventory levels
Even with the biggest one-year sales crash ever, NAR-reported inventory levels are still near all-time lows. If most home sellers are buyers, then when they list their homes, they know they’re qualified to buy a home at current rates. Hopefully, this explains why we still have low active listings data. Traditionally, we have between 2-2.5 million active listings, currently at 1.11 million.
NAR Inventory data going back to 1982.
Today’s existing home sales data shows that we were slowing down again — even before the recent move in higher mortgage rates. However, home sales aren’t crashing like in 2022, and inventory has been negative year over year for some time now. This is a much different housing cycle than the ones we have seen in previous decades.
The 30-year mortgage and low total housing cost has made the American home not only the best hedge against inflation but a hedge against an aggressive Federal Reserve. Remember, sellers are buyers, and we lack both to push more housing demand in the existing home sales market.
Staying at a hotel so famous that it’s printed on a country’s currency isn’t something that was on my travel bucket list. In fact, I didn’t even know that such a hotel existed. But it turns out that the Grand Pacific Hotel in the capital of Fiji is famous enough to earn that honor.
While it’s no longer the most luxurious hotel in the country, the Grand Pacific Hotel is still the go-to hotel for celebrities, politicians and business travelers when visiting the Fijian capital of Suva. Here’s what it’s like to stay at this historic hotel.
During my stay in April 2023, the Grand Pacific Hotel still operated as an independent IHG hotel — not flagged as any particular IHG brand. However, the hotel is in the process of joining the InterContinental Hotels & Resorts brand.
At the time my wife and I booked our stay, award nights at the Grand Pacific Hotel cost a steady 30,000 IHG One Rewards points per night. As an IHG® One Rewards Premier Credit Card holder, I received a fourth night free on this stay.
That means my four-night stay only cost 90,000 IHG points. At NerdWallet’s valuation of 0.7 cent per IHG One Rewards point, that’s approximately $630 worth of points.
An equivalent cash booking cost $1,006 total at the time we booked. That means this fourth-night free award booking netted around 1.1 cents per point in value.
The Grand Pacific Hotel is located on harborfront land in the Fijian capital of Suva, surrounded by some of the nation’s most important sites. The hotel is just a few minutes walk from the nation’s seat of power, historic Thurston Gardens and the Fiji Museum.
Directly in front of the hotel, you’ll find Albert Park. This expansive park has hosted dignitaries throughout the years, was the site of the unveiling of the new Fijian flag when the archipelago gained independence from the British and remains a center of Fijian culture.
During our stay, Albert Park constantly bustled with life — from soccer and rugby practices to a cricket tournament featuring teams from all across the island nation.
The Grand Pacific Hotel is located just south of other Suva highlights. The bustling Suva Municipal Market, historic Carnegie Library and shopping streets are all located within a mile.
The Grand Pacific Hotel is the most storied hotel in the country of Fiji — so much so that the hotel is featured on the back of the Fiji $10 bill. Originally opened in 1914, this fittingly named grand hotel has hosted a long list of celebrities. Among the most famous are Queen Elizabeth II during several visits to the once-British colony and Charles Kingsford Smith in his famous “Southern Cross” flight from the U.S. to Australia in 1928.
A display case near the entrance to the hotel displays memoirs of the hotel’s past.
Photos of the hotel’s history line the walls of the original building, with plenty of photos of Queen Elizabeth’s multiple visits fittingly surrounding the so-called Queen Elizabeth Suite.
The hotel maintains a “Wall of Fame” with the many politicians and celebrities who have stayed at the hotel. Next to the Wall of Fame, the hotel hangs a mirror with the label “our most important guest of all.”
Accommodation
The original Grand Pacific Hotel building hosts just 10 so-called “heritage rooms” and suites. These are the classic rooms originally built in 1914 but updated in a 2014 remodel.
However, there’s much more to the Grand Pacific Hotel than just these 10 rooms and suites. A 2014 expansion added the Harbour and Kingsford Smith Wings to the hotel — adding over 100 new rooms. Most of the rooms in the Harbour Wing offer a balcony with an angled view over the pool or harbor.
At the far end of the Harbour Wing are 16 harborfront rooms and suites — eight standard rooms plus eight so-called “Grand Pacific Club” corner rooms.
As a Diamond Elite, I received an upgrade to one of these harborfront rooms, which was dubbed “Daveta” per a sign next to our door.
This harborfront room offered an expansive view of the beautiful — but surprisingly quiet — Suva harbor.
The nice — if a bit plain at first glance — room offered all of the standard amenities you might expect from a hotel room. The king-size bed visibly consisted of two twin beds but was plenty comfortable.
The 42-inch flat-screen TV offered only around a dozen mostly sports-related channels.
A minibar fridge came stocked with around a dozen self-serve drinks. As is customary in Fiji hotels and resorts, the fridge had a carton of complimentary fresh milk for your coffee or tea.
Tucked away in drawers, the hotel provided complimentary teas, French press coffee and even “drinking chocolate” packets.
The closet housed staples such as a blow dryer, safe, laundry bags, hangers, an iron and an ironing board — as well as luxury items, including robes and InterContinental-branded slippers.
The open-design bathroom offered a partially walled shower and refillable Pure Fiji-branded white gingerlily-scented amenity bottles.
Food and beverage
Guests have two options for breakfast: a la carte or a breakfast buffet costing around $20 ($45 Fijian dollars) per person. As an IHG One Rewards Diamond Elite member, I opted for the daily breakfast as my welcome amenity.
Each morning, the buffet breakfast spread was a bit different. However, the expansive buffet always offered more than a half-dozen main dishes — including a couple of vegetarian options and one vegan option — plus fruits, deli meats, cereals, breads, baked goods, salads and juices.
If you want something fresh, you can order from a menu of custom-made egg dishes.
I was pleasantly surprised by the quality of the eggs Benedict I ordered a couple of mornings.
On Thursday and Friday evenings, the Grand Pacific Hotel offers tapas complete with a live band out on the veranda.
Thankfully, our stay overlapped with the events and we could enjoy a selection of reasonably priced tapas and local Fijian beer.
Our appetite not quite suppressed, my wife and I split a bowl of kokoda — the Fijian national dish.
Pool
The Grand Pacific Hotel pool is located adjacent to the Heritage and Harbour Wings. This long but rather simple pool is open from dawn to dusk.
Fitness center
The Grand Pacific Hotel fitness center was located next to the spa. Open daily from 8 a.m. to 8:30 p.m., the fitness center has several stationary bikes, treadmills, a rowing machine, free weights and various weight machines.
Spa
The Grand Pacific has a full-service Bliss Spa on-site. During our visit, the spa offered reasonably priced specials including:
60-minute table massage: around $54 ($120 Fijian dollars).
45-minute hot stone therapy: around $61 ($135 Fijian dollars).
30-minute foot massage: around $20 ($45 Fijian dollars).
50-minute pedicure or manicure: around $27 ($60 Fijian dollars).
After a long day of walking around Suva (and then a shower), my wife and I opted for one of the 30-minute foot massages. The therapists adapted to our pressure preferences and provided a wonderful massage.
🤓Nerdy Tip
You cannot charge gratuities to the room. While tips generally aren’t expected in Fiji, you might want to have cash on hand in case you want to tip your therapist.
Wi-Fi
Located in the middle of the Pacific Ocean, the internet in Fiji can understandably be spotty — even at some of the top resorts on the islands.
Thankfully, Wi-Fi was not an issue at the Grand Pacific Hotel. While not particularly speedy, the Wi-Fi was solid throughout our stay. A Wi-Fi speed test reflected download and upload speeds of around 10 Mbps.
Business center
Need a place to get some work done? The Grand Pacific Hotel offers a business center on the ground floor of the heritage building with a couple of computers, a printer, magazines and newspapers.
If you’re considering staying at the Grand Pacific Hotel
Many foreign tourists stick to Fiji’s excellent resorts when visiting the island nation — as my wife and I did on a previous trip and much of this trip.
However, if you want a true taste of Fijian culture, I recommend basing your visit to the Fijian capital at the Grand Pacific Hotel.
(Top photo by JT Genter)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
In the world of sports, only a handful of names can rival the legendary status of Lionel Messi.
Known as the Messi-ah of soccer, the Argentinian athlete has racked up countless achievements and awards, including the elusive World Cup in 2022, which took him 16 years to finally win.
When he’s not busy scoring goals and making defenders question their life choices, Leo Messi is living it up in his seriously swanky mansions and condos. He has a net worth of around $600 million, so it comes as no surprise that Messi would splurge on his homes.
With properties in different parts of the world, many fans wonder – “Where does Leo Messi live now?”
The star athlete has been busy growing his real estate portfolio since 2017, so it can be hard to keep up with his whereabouts. But, as he is currently playing for Inter Miami, he has now settled in Vice City.
And while he’s still keeping things under wraps — until he finds the right mansion to put down roots in Miami — we’ve put together a list of Lionel Messi’s houses and condos in recent years, to give you an idea of the soccer star’s options when it comes to housing.
Lionel Messi bought a couple of million-dollar condos in Miami
Back in 2019, before his MLS move to Inter Miami, Messi dropped $5 million to buy an oceanfront condo unit at Porsche Design Tower in Sunny Isles Beach.
His unit totals 3,555 square feet and has three bedrooms and four-and-a-half bathrooms (swipe for pics).
The 60-story luxury condominium offers ultra-luxurious amenities, including a car elevator that allows residents to drive their cars straight to their apartments, providing privacy for high-profile celebrities and billionaires. Messi reportedly sold his unit for $7 million in 2021.
Later, he purchased another luxe Miami penthouse at the Regalia Residences, just 10 blocks away from his first condo.
Messi decided to go big on the upgrade and purchased the whole ninth floor for $7.3 million.
The four-bedroom penthouse has lots of living space, with floor-to-ceiling glass windows that framed the scenic beach views perfectly. Seven months after he closed the deal, Lionel Messi’s condo was relisted and ended up back on the market.
He lived in a lavish mansion in Barcelona
Prior to his move to the States, Messi’s primary residence was a lavish mansion in Barcelona.
He built the property in the upscale Bellamar neighborhood in Castelldefels. According to reports, he bought the house in 2009 for $2 million and spent millions more on renovations. It is rumored that he bought the adjacent lot as well, just because the neighbors were too noisy and he wanted some privacy.
The mansion features modern architecture and Mediterranean-themed indoors, with hardwood floors and spacious living areas.
Outdoors, there’s a large garden, a barbeque pit, a pool, and a small playground for Messi’s kids. To keep himself in good shape, Messi also had a small football field installed on the side of his house.
Messi, along with his wife Antonela Roccuzzo and their three sons, stayed in this mansion for over a decade while he was still playing for Barcelona. It remains unclear if he still owns this property or if he sold it after he switched teams.
Reports say that Lionel Messi also purchased a property near his childhood home in Rosario, Argentina, so he can visit his hometown whenever he wants. Details of this home have been kept secret to protect his family’s privacy.
Leo Messi also has a growing hotel portfolio
Messi doesn’t hold back in his pursuits and this extends to his ventures in the realm of real estate.
He entered the hotel business in 2017 and acquired MIM Hotels, managed by Majestic Hotel Group, run by his brother Rodrigo.
Over the past years, the footballer-turned-hotelier has been adding more properties to his hotel chain. Now, the group owns six hotels with locations in Sitges, Ibiza, Majorca, Baqueira, Sotogrande, and Andorra.
Many football fans can’t help but compare Messi to his rival Cristiano Ronaldo, who also runs a chain of hotels. The two superstar athletes can’t seem to shake off the competition even off the field. Messi, however, leads the business game with his expanding luxury hotel chain.
Loving life in Miami
While there have been no reports on where Leonardo Messi lives in Miami, it looks like he and his family have settled into their new life in the US. They were spotted shopping for groceries in the local supermarket, all in casual clothing, looking cheerful and perfectly at ease.
In an interview, Messi shared how happy he is with his decision to move to the States.
“I came here to play and to keep enjoying soccer which is what I loved my whole life and I choose this place because of all those things,” he said.
“I can tell you that I am very happy with the decision I made and for how my family and I live our day-to-day lives and how we enjoy the city and this new experience and how the people received us from the first day, from the people of Miami and the people of the US in general.”
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LOS ANGELES — Sales of previously occupied U.S. homes fell in July to the slowest pace since January, as elevated mortgage rates and a stubbornly low inventory of homes on the market combined to discourage many would-be homebuyers.
Existing home sales fell 2.2% last month from June to a seasonally adjusted annual rate of 4.07 million, the National Association of Realtors said Tuesday. That’s below the 4.15 million pace that economists were expecting, according to FactSet.
Sales slumped 16.6% compared with July last year. It was also the lowest home sales for the month of July since 2010.
The annual sales decline was steepest in markets across the Northeast and Midwest, where sales slumped 20% or more, the NAR said.
Despite falling sales, competition for a near-historic low level of homes on the market helped drive prices higher. The national median sales price rose 1.9% from July last year to $406,700, marking the first annual increase in prices since January.
The shortage of homes for sale has kept the market competitive, driving bidding wars in many places, especially for the most affordable homes. Roughly 35% of homes sold in July fetched more than their list price, said Lawrence Yun, the NAR’s chief economist.
“At least when it comes to home prices, it looks like the housing recession is already over,” Yun said.
All told, there were 1.11 million homes on the market by the end of last month, an increase of 3.7% from June, but down 14.6% from a year earlier, the NAR said.
Homes listed for sale in July typically sold within just 20 days, with 74% staying on the market for less than a month.
All told, the number of homes on the market at the end of July amounted to a 3.3-month supply at the current sales pace. In a more balanced market between buyers and sellers, there is a 5- to 6-month supply.
The combination of high borrowing costs and intense competition for the most affordable homes on the market is keeping many first-time buyers on the sidelines. They accounted for just 30% of home sales last month, though that was up from 27% in June, the NAR said.
“There’s virtually no inventory at the lower price point,” Yun said.
The latest housing market figures are more evidence that many house hunters are being held back by a persistently low inventory of homes for sale and rising mortgage rates.
The average rate on a 30-year home loan hovered just below 7% last month and has continued climbing, reaching 7.09% last week, according to mortgage buyer Freddie Mac. The average long-term U.S. mortgage rate is now at its highest level in more than 20 years.
High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already unaffordable to many Americans. They also discourage homeowners who locked in those low rates two years ago from selling.
Mortgage rates have been rising along with the 10-year Treasury yield, lenders use to price rates on mortgages and other loans. The yield has been climbing as bond traders react to more reports showing the U.S. economy remains remarkably resilient, which could keep upward pressure on inflation, giving the Federal Reserve reason to keep interest rates higher for longer.
After more than three years, federal student loan payments are restarting. A lot of new changes have been enacted, such as changes to income-driven repayment (IDR) and loan forgiveness, and some actions are still in the pipeline.
With the end of the federal loan interest and payment forbearance right around the corner, here are the important dates that borrowers may need to know.
Summer 2023: New SAVE Plan Revealed
What’s Happening
The Department of Education announced changes to its federal income-driven repayment plans. The Saving on a Valuable Education (SAVE) plan was introduced, replacing the current Revised Pay As You Earn (REPAYE) plan.
Partial benefits under the new repayment plan go into effect before the payment pause ends. This includes benefits that dramatically lower your monthly payment, subsidize any interest that isn’t covered by your payment, and exclude your spouse’s income for your payment calculation.
If you’re already enrolled in REPAYE, your plan will be automatically enrolled in the new SAVE plan. 💡 Quick Tip: Ready to refinance your student loan? With SoFi’s no-fee loans, you could save thousands.
Who’s Impacted (and Who Isn’t)
Borrowers who are already under the REPAYE plan, or are interested in getting on the SAVE plan.
This doesn’t affect borrowers who are on an alternative repayment plan, or those on an IDR plan who don’t wish to enroll in SAVE.
What You Need to Do to Prepare
If you’re already enrolled in REPAYE, there’s nothing you need to do at this time. If you’d like to be enrolled in SAVE, submit an IDR application to your loan servicer. This can easily be done online and takes about 10 minutes.
September 1, 2023: Interest Accrual Resumes
What’s Happening
The COVID-19 administrative pause will officially end on August 31, and interest charges on your federal loans will resume on September 1.
Also, you might start receiving your student loan bill in September. Your bill will be sent at least 21 days before your payment is due, and will include the payment amount and its due date.
Who’s Impacted (and Who Isn’t)
All borrowers with federal student loans that were included in the interest rate pause.
This date doesn’t affect student loans that were ineligible for the payment and interest pause. That includes private loans and Federal Perkins Loans and Federal Family Education Loans (FFEL) that weren’t owned by the Department of Education.
What You Need to Do to Prepare
First, confirm whether your federal loan servicer has changed by logging into your StudentAid.gov account. You can also call 1 (800) 433-3243 for assistance. During the payment pause, some companies left the federal loan servicing business while new ones were brought into the fold.
After confirming who your servicer is, create an online account on the servicer’s website to manage your repayment moving forward.
October 1 2023: First Payments Due
What’s Happening
Your first payment is due in October, based on the due date stated on your loan bill. However, borrowers who graduated after March 1, 2023 will receive a full six-month grace period before their first payment is due. That means that, for instance, undergraduates who graduated in May 2023 will begin making payments in December 2023.
Who’s Impacted (and Who Isn’t)
Borrowers who left or graduated school before March 1, 2023, and who have an unpaid federal student loan balance. This doesn’t apply to federal borrowers who had non-government held Perkins or FFELs which weren’t included in the emergency forbearance action.
What You Need to Do to Prepare
Log in to your servicer’s website to access your loan to review your payment amount and due date. If you were previously enrolled in auto-pay before the pause, you’ll need to re-enroll in automatic payments through your loan servicer’s site.
December 31, 2023: Last Day to Consolidate for IDR Adjustment
What’s Happening
This is the deadline to consolidate non-qualifying loans into a Direct Consolidation Loan to claim the one-time, temporary IDR Account Adjustment. Claiming this adjustment helps eligible borrowers get credit for past non-qualifying payments.
Borrowers who consolidate their non-qualifying loans by this time can accelerate their track toward loan forgiveness. Generally, if after the adjustment is applied, you made more qualifying payments than needed for loan forgiveness, you’ll have the amount refunded.
Who’s Impacted (and Who Isn’t)
Borrowers who are or were enrolled in an IDR plan, as well as borrowers who are participating in Public Service Loan Forgiveness (PSLF). Also, borrowers aren’t on an IDR plan yet, but want to enroll in one and have government-held Direct or FFEL Loans.
What You Need to Do to Prepare
Don’t wait until the last minute to consolidate your non-qualifying loans. Contact your federal student loan servicer ASAP to get the process started. If your non-qualifying loan is in default, you can still access this adjustment by getting your loan out of default (for instance, through Fresh Start ).
July 2024: Additional SAVE Plan Benefits Available
What’s Happening
The second wave of SAVE plan benefits start in July 2024. Some key benefits are even lower monthly payments, and an accelerated track toward loan forgiveness.
Borrowers who are only repaying undergraduate loans on the SAVE plan will have their monthly payment reduced from 10% of their discretionary income to only 5%. Those with a mix of undergraduate and graduate loans under SAVE will pay a weighted average between 5% to 10% of their discretionary income.
Additionally, borrowers whose original principal loan balance was $12,000 or less will have any remaining loan balance forgiven after making 10 years of repayment — a much faster timeline than SAVE’s usual 20- or 25-year forgiveness period.
Who’s Impacted (and Who Isn’t)
Borrowers who are enrolled in the SAVE plan, or are interested in getting on the SAVE plan. This doesn’t affect borrowers who are on an alternative repayment plan, or those on an IDR plan who don’t wish to enroll in SAVE.
What You Need to Do to Prepare
Make sure your contact information is up to date with your loan servicer so you receive announcements as this date nears. If you want to take advantage of these benefits, but aren’t enrolled in an IDR plan, submit an IDR request to your servicer to see if you qualify for SAVE.
September 30, 2024: End of “On-Ramp” Transition
What’s Happening
The Department of Education is enacting a 12-month “on-ramp” phase from October 1, 2023 to September 30, 2024. During this time, loan accounts that don’t receive a payment won’t be penalized, and although interest will accrue, it won’t capitalize after the on-ramp expires. However, after this date, student loans that are past due on a payment will be reported to the credit bureaus, marked as delinquent or in default, and the account might be sent to debt collection.
Who’s Impacted (and Who Isn’t)
Student loan borrowers who have not made a payment since the restart of federal student loan interest and payments, and borrowers who are struggling with their student loan payment.
What You Need to Do to Prepare
No action is necessary to participate in the on-ramp. However, reach out to your loan servicer if you can’t meet your loan obligation before this date to learn about your options to avoid severe consequences.
For example, you might be able to secure a lower payment under an IDR plan or qualify for temporary deferment or forbearance.
The Takeaway
In the last few years, there have been many changes to help borrowers with federal student loan repayment. However, the many different deadlines and moving parts can make staying on top of your to-do list challenging.
Keeping these dates in your calendar can help you track, and take advantage of, valuable federal programs.
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
FAQ
Are student loan payments going to start?
Yes. Interest on federal student loans that were paused during the COVID-19 administrative forbearance will resume on September 1, 2023, and payments will be due in October 2023.
Is Biden going to pay student loan debt?
Certain federal student loan borrowers might have all or a portion of their remaining unpaid student debt canceled. A new administrative action is being put into place to recalculate payment credit toward loan forgiveness for 804,000 borrowers who are enrolled in an income-driven repayment plan.
The administration’s plans to cancel up to $20,000 of federal student loans for eligible borrowers, however, was struck down by the Supreme Court. No further forgiveness actions have been announced as of this writing.
How do I find out if my student loans have been forgiven?
If you received loan forgiveness as a result of recent changes in the federal student loan system, you’ll receive a notice from your loan servicer or the Department of Education. This might be sent via mail or electronically. Ensure that you can log in to your StudentAid.gov or servicer’s website, and your mailing address and email are correct.
Photo credit: iStock/FatCamera
SoFi Student Loan Refinance NOTICE: The debt ceiling legislation passed on June 2, 2023, codifies into law that federal student loan borrowers will be reentering repayment. The US Department of Education or your student loan servicer, or lender if you have FFEL loans, will notify you directly when your payments will resume For more information, please go to https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf https://studentaid.gov/announcements-events/covid-19
If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income based repayment plans or extended repayment plans.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
What a difference a city makes…in the uber-hot Bay Area, a staggering 43.5% of homes for sale are priced at $1 million bucks or above, according to real estate listing website Trulia.
Compare that to other major metros like Chicago, Dallas, and Philadelphia, where such listings account for fewer than five percent of listings.
In fact, million-dollar listings account for fewer than five percent of all listings in 68 of the top 100 metros nationwide, which clearly illustrates the lopsided distribution of real estate wealth in this country.
If you want to take it a step further, less than two percent of listings are million-dollar homes in 44 of the nation’s largest metropolitan areas.
What Does $1 Million Get You in San Francisco?
The saddest part about San Francisco’s real estate situation is that despite the ridiculous valuations, you don’t get very much for your money, unless you really like fog.
That’s right, for $1 million or more, you only get a median sized home of 1,774 square feet. In other words, you’re probably looking at a townhouse or a condo in the city.
And it certainly won’t be large enough to accommodate your family of four, unless you want to live on top of each other.
Surprisingly, New York City wasn’t even in the top five in terms of percentage of million dollar listings. The Big Apple secured the sixth spot with 20.8% of listings in the $1 million plus category.
It was surpassed by Fairfield County, CT (29.7% share), San Jose, CA (25.7% share), Orange County, CA (24.4% share), and Ventura County, CA (21.5% share).
Rounding out the top 10 were Long Island, NY (), Honolulu, HI (), Los Angeles, CA (), and San Diego ().
It Turns Out Water Is Really Expensive
The takeaway from this list is that being close to the water is HUGE. Of the top 10 million-dollar metros, only one isn’t directly located next to a major body of water.
I’m referring to San Jose, CA, which isn’t on the beach, but still isn’t very far from the San Francisco Bay or the Pacific Ocean.
The rest are a stone’s throw from the nearest beach, making them pretty darn attractive to prospective home buyers.
Their proximity to water also creates a major geographical barrier that limits housing supply, a serious buffer for property values.
In areas that are wide open, supply can be relatively limitless, which doesn’t offer house values much protection.
But back to square footage. Being close to the water also means you get a lot less square footage for your buck.
The top 10 million-dollar metros in terms of least square footage are also situated by the ocean, where median size ranges from 1,489 square feet in NYC to 2,750 square feet in Providence, Rhode Island.
The largest million-dollar homes can be found in Birmingham, Alabama, where the median size is an impressive 8,059 square feet. Of course, it’s about 250 miles to the beach.
You can also get a ginormous home in Toledo, Ohio (7,087 square feet) or Indianapolis, Indiana (7,036 square feet), both of which aren’t anywhere close to a local surf spot.
In fact, all of the top 10 largest million-dollar metros in terms of square footage are landlocked.
So there you have it, water is everything.
Read more: Is Google about to replace your real estate agent?
The past year hasn’t been particularly good for tech or housing. As a consequence, the number of real estate, mortgage and general housing tech firms to make the annual Inc. Magazine list of the 5,000 fastest growing private companies in America declined in 2023. In all, 37 companies made the cut this year, down from 53 a year ago.
The self-reported list ranks U.S. based firms on percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2029. The minimum revenues required are $100,000 for 2019 and $2 million for 2022.
The fastest-growing housing tech firm in 2023 was OptiFunder, which claims to produce the mortgage industry’s only optimization software built to systematically decision warehouse funding allocations and automate the complicated process of funding through loan sale. Based in Missouri, OptiFunder had a three-year growth rate of 4,767%. It was ranked the 98th-fastest growing private company in America in 2023.
Transactly, a real estate transaction platform that provides automation, integrations and tech-enabled services that significantly reduce process time, placed 126th in 2023. Another Missouri-based company, Transactly had a three-year growth rate of 3,852%.
Also appearing in the top 200 list was CertifID, an Austin, Texas-based company that makes software to cut down on wire fraud in the real estate industry. The company, led by Tyler Adams, raised $12.5 million in a Series A funding round in 2022.
Interestingly, none of the top three companies on the 2023 list made the cut in 2022. But several well-established housing tech companies made consecutive appearances in this year’s Inc. 5000 edition.
Homelight, a platform for homebuyers and sellers, was No. 403 in this year’s ranking with a 1,444% three-year growth rate. The company was ranked 351 last year.
LoanStar Technologies, which connects lenders with borrowers who are traditionally underbanked or unbanked, also made the list again. The company was No. 469 in this year’s ranking, up from 958 last year. Its three-year growth rate was 1,241%.
Mortgage origination platform Maxwell, which was in the top 200 last year and a HW Tech 100 award winner in 2021, was ranked No. 658 in the 2023 Inc. 5000 list.
Other established names to make the Inc. 5000 list in 2023 include home equity investment firm Point; co-living platform PadSplit; one-time unicorn Orchard, which operates a digital home buying and selling marketplace and was a 2023 HW Tech 100 award winner; single-family investment property marketplace Roofstock; RentSpree, a rental software platform that connects real estate agents, owners and renters; Curbio, one of leading tech-enabled pay-at-closing home improvement solutions; EasyKnock, a real estate firm that offers homeowners a way to access their home’s equity using a sale-leaseback program; and New Western, a marketplace that serves over 150,000 real estate investors across the country.
Two companies on the list have been on the Inc. 5000 list an impressive five times: Total Expert, which offers CRM and data-driven customer engagement solutions, turning customer insights into actions to increase loyalty and drive growth; and FirstClose, a tech solution provider for HELOC and home equity lenders.
Here’s the complete list of tech firms:
Rank
Company
Growth (3-yr Avg.)
Year Founded
Description
98
OptiFunder
4,767%
2018
Finance company helping independent mortgage lenders choose among funding options and streamline the process.
126
Transactly
3,852%
2017
Real estate transaction platform providing automation, integrations and tech-enabled services that significantly reduce process time.
193
CertifID
2,807%
2017
A company dedicated to fighting wire fraud for the real estate industry.
403
Homelight
1,444%
2012
Providing a platform that helps deliver better outcomes for homebuyers and sellers.
469
LoanStar Technologies
1,241%
2016
Enabling lenders to connect and lend to customers who are traditionally underbanked or unbanked.
487
LiveEasy
1,204%
2013
Real estate software company changing the way people manage their move and their homes.
497
BOSSCAT
1,175%
2018
Digitizing home inspection data to create instant repair estimates for homeowners and real estate professionals.
510
PadSplit
1,152%
2017
Creator of a co-living market platform enabling workers to live in the communities they serve.
533
ReBuilt
1,096%
2015
Vertically integrated marketplace helping homeowners sell their unwanted property and real estate investors find great off-market deals.
545
BatchService
1,081%
2018
A real estate data and SaaS provider using real-time intelligence to help businesses identify opportunities.
658
Maxwell
890%
2015
Digitizes the mortgage-origination process for small to midsize banks, credit unions, and independent mortgage lenders.
678
TriusLending
869%
2003
A mid-Atlantic real estate investment firm and financing lender focused on short-term private lending and long-term rental loans.
744
Point
791%
2015
Home equity investment firm that has enabled more than 10,000 homeowners to unlock their home’s equity without additional monthly expenses.
769
InstaLend
766%
2015
A tech-enabled real estate loan lender providing fast and affordable capital to residential developers through streamlined technology and automated workflow.
933
Coviance
630%
2015
Cloud-based financial firm enabling lenders to scale home equity loans and deliver a clear to close for borrowers in hours.
984
Orchard
602%
2017
Making home buying and selling stress-free, fair and simple with a focus on helping homeowners unlock their equity.
992
RentSpree
598%
2016
Rental software platform that connects real estate agents, owners and renters to simplify the rental process from listing to lease.
997
American Mortgage Mortgage
594%
2019
A 100% employee-owned company providing solutions to mortgage industry challenges, which benefit clients and employees.
1,032
Realync
575%
2013
A real estate video engagement platform unlocking authentic experiences that connect and convert across the prospective renter and resident lifecycle.
1,068
Fund That Flip
555%
2014
An end-to-end real estate investing solution for serious, experienced investors, including Saas products and financing for residential redevelopers and builders.
1,375
Roofstock
425%
2015
End-to-end investing platform for the single-family rental home sector providing integrated, data-driven technology and curated investment recommendations for investors.
1,403
SavvyMoney
417%
2009
A leading provider of credit score solutions, serving over 1000 financial institutions by combining real-time data with digital personalization tools.
1,467
Curbio
393%
2017
Helping real estate agents prepare homes before they go to market so they sell quickly and for the best price.
1,486
Yoreevo
386%
2017
Offering streamlined, stress-free home shopping by providing a technology-driven approach executing transactions more efficiently and saving customers money.
1,522
MIOYM
377%
2008
Real estate firm that identifies and rehabilitates distressed single-family residential properties, later selling them to first-time home buyers nationwide.
1,532
EasyKnock
375%
2016
Real estate firm offering homeowners an innovative way to access their home’s equity using a sale-leaseback program.
1,588
Leverage Companies
358%
2019
Real estate investment firm that uses a proprietary, data-driven platform to source premium opportunities for investors.
1,943
EmpowerHome
289%
2006
A partner to real estate teams and agents, offering exclusive programs to ensure sellers get top dollar for their properties.
1,971
Mobility Market Intelligence
285%
2010
A market leader in data intelligence and market insight tools for the mortgage and real estate industries.
1,985
Keeping Current Matters
282%
2007
Helps real estate agents save time and build confidence with easy-to-deliver marketing content powered by the latest market insights.
2,669
LodeStar Software Solutions
197%
2013
Firm offering software that saves mortgage lenders and professionals time and money by automating their closing cost disclosure.
2,824
MoxiWorks
189%
2012
Firm offering cloud-based, real-estate-productivity technology helping brokerages and agents thrive in the residential real-estate space.
2,936
Lender Toolkit
179%
2015
Provider of automated, innovative and comprehensive AI-powered mortgage technology solutions that streamline the mortgage origination process for mortgage lenders.
3,370
Total Expert
149%
2012
CRM and data-driven customer engagement solutions for financial institutions, turning customer insights into actions to increase loyalty and drive growth.
4,105
FirstCloseFirstclose.
110%
2000
Technology solution provider for HELOC and home equity lenders nationwide, helping lenders increase profitability and reduce cost.
4,196
NewWestern
106%
2008
Real estate marketplace that connects more than 100,000 local investors looking to rehab houses with sellers.
4,423
Down Payment Resource
96%
2008
A technology provider helping the housing industry connect homebuyers with homebuyer assistance, to make affordable home financing opportunities more accessible.
Source: Inc. 5000 – 2023
Additionally, two appraisal firms were named to the Inc. 5000 list in 2023: Kairos Appraisal Services, a national appraisal management company implementing technology to expedite the appraisal process through data, geocoding, scheduling and interactive communication tools. Kairos was No. 1,283 on the Inc. 5000 list with a three-year growth rate of 457%. Miami-based Marketwise Valuation Services, another AMC, was No. 2,629 overall with a three-year growth rate of 205%.
Rank
Company
Growth (3-yr Avg.)
Year Founded
Description
1,283
Kairos Appraisal Services
457%
2015
National appraisal management company implementing innovative technology to expedite the appraisal process through data, geocoding, scheduling and interactive communication tools.
2,629
Marketwise Evaluation Services
205%
2017
Appraisal management company for the lending industry, dedicated to providing the highest quality appraisal management services and property condition inspections.
Inside: Are you looking for a safe and convenient way to buy and sell gift cards? If so, CardCash may be the perfect option for you. This comprehensive review will explore everything you need to know about this popular online marketplace.
Gift cards often seem like the perfect hassle-free gift solution, but receiving a card from a retailer that doesn’t align with your interests can result in unused potential and wasted money.
This is a common occurrence, with Americans currently holding around $21 billion in unused gift cards (source).
I know I have plenty of unused gift cards – probably around $300 worth laying around.
In response, companies like CardCash.com have stepped in to make these cards useful again and alleviate this universal frustration.
The simple goal is to help you extract value from those unwanted or unused gift cards by providing a platform to sell them safely. The solution not only converts unused cards into cash but also offers the opportunity to swap them for discounted cards from preferred retailers or a prepaid Mastercard.
Here is my CardCash review on the simplicity of getting cash for my unused gift cards.
In an era of savvy shopping and financial mindfulness, CardCash is a promising solution to make the most of every gift card.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What is CardCash?
CardCash is a valuable online platform you can tap into for buying, selling, and exchanging gift cards. A brainchild of Elliot Bohm and Marc Ackerman, it was launched in 2009 with the goal of solving the problem of unused gift cards in America.
Via the CardCash platform, you can:
Sell your gift cards for up to 92% of the card’s value based on the popularity of the retailer.
Use CardCash to purchase gift cards, at a discounted rate, in bulk from over 1100 brands including big names like Amazon, Walmart, Starbucks, and CVS.
Swap your gift card for another retailer. You won’t get the same value though.
Remember, though, you won’t quite get the full value of your card as CardCash keeps a small percentage.
Does CardCash pay you instantly?
No, CardCash does not provide instant payments with cash.
Instead, after your order is approved, payments are typically made within a 48-hour window. This is due to standard processing times.
However, if you select another gift card. That will be available once your order is approved.
The invoice for the gift card claims to offer approximately 92% of the card’s value, but it’s worth noting that the actual payout can be lower at times.
How Does CardCash Work?
CardCash is a brilliant platform if you’re looking to sell, buy, or exchange gift cards. Here’s a quick guide on how you can get started:
Sign up on CardCash.com.
To sell a gift card, enter the merchant’s name and the balance on the gift card.
CardCash will give you an offer; if you accept, you get paid via mailed check, ACH payment, or PayPal. Or you can opt for a Prepaid Mastercard or another retailer gift card of your choice.
To buy a gift card, browse through the list of available cards and pick one that suits you.
Proceed to payment and enjoy your discounted gift card!
Pro Tip: Always check the price differences between the card value and the purchase price for the best deals.
How much does CardCash pay for gift cards?
Contrary to what CardCash claims, you won’t receive the full 92% of your gift card’s value.
The actual amount you’ll get depends largely on how popular the issuing merchant is. For popular sellers like Amazon or Walmart, you might get closer to their claim, but not always.
Sadly, for less-known retailers, offers might sink as low as 50% of your gift card’s worth.
Pros of CardCash
Considering an online platform for buying, selling, or swapping gift cards? CardCash is definitely one to consider.
Personally, I wanted to test it out and today you can find my CardCash Review.
The distinct features of CardCash include:
A wide selection of gift cards from over 1100 retailers
Instant payment in cash or a swap for another gift card when you sell your unused gift cards
Exclusive offers and discount opportunities for regular users
Convenience as the platform is easy to use and provides a hassle-free experience for users who buy or sell gift cards.
Unused gift cards can be sold for cash or swapped for your preferred merchant’s gift cards, giving value to otherwise wasted money.
Very user-friendly: It’s simple and effortless to buy and sell gift cards on this platform – a massive plus for users.
With all these advantages, CardCash makes a pretty compelling case as your go-to online gift card marketplace.
CardCash, a reputable gift card marketplace, might just be the perfect match for your needs!
Cons of CardCash
Before you decide to use CardCash, it’s important to weigh the drawbacks of the platform against its benefits.
Recognizing these concerns helps you make an informed decision and avoid potential hiccups along the way.
Here are the top cons to using CardCash:
Lower Payouts: When you decide to sell your gift cards on the platform, you might receive lower payouts than you’d expect. Be sure to carefully evaluate these potential losses.
Merchant isn’t on Platform: Not all merchants are available on the platform, which is unfortunate.
Short Buyer Protection Guarantee: Compared to other gift card marketplaces, CardCash’s 45-day buyer protection guarantee feels rather insufficient. For comparison, Raise offers a guarantee for a full year.
Disappearing Balances: Many users have reported issues with their card balances mysteriously disappearing, which can be quite unsettling. Learnwhy this unfortunately happens.
Is CardCash Legit?
Yes, CardCash is legit.
They’re a longstanding player in the gift card industry, thanks to robust security measures and a user-friendly platform.
Established over a decade ago, they have experience in offering a secure platform for buying, selling, or trading gift cards.
How do you go about sending eGift cards to CardCash?
Converting eGift cards works essentially the same way as converting physical gift cards. You still get the same benefits whether you are converting eGift cards or physical ones.
All you need to provide is the relevant information about the eGift card.
The payment process for selling eGift and physical gift cards is the same.
You can receive payment in cash or you can exchange for another gift card of your choosing.
Expert Tip: Make sure to accurately provide all necessary details regarding your eGift card to ensure a smooth transaction process.
CardCash Common Questions
CardCash is a website that allows you to buy, sell, and trade gift cards.
I tested out the site with various gift cards as part of my Cardcash review.
As this concept may be new to you, let’s answer some common questions about CardCash and give you our honest opinion on whether or not it’s a legit website.
1. Are CardCash transactions safe?
CardCash transactions are generally safe.
As a reputable marketplace for gift cards, CardCash enforces strict security measures like other platforms such as eBay or Amazon. However, it’s important to remember that you’re dealing with third parties that could potentially misuse gift card PINs.
To counteract this, CardCash offers a money-back guarantee for unsatisfied purchases. For example, if a gift card you bought is exposed as fraudulent, you can get your money back.
Despite this, always exercise caution, and use common sense while making transactions.
2. Are there any fees when buying or selling a gift card?
When you’re buying or selling gift cards on CardCash, there are no fees applied to your transactions.
The platform allows free signup and doesn’t charge for usage.
Purchasing a gift card? Absolutely zero fees. All you pay for is the discounted cost of the card itself.
Selling a gift card? No worries, still no fees. After providing your card details and balance, you’ll receive an offer. If you accept, the payment goes directly to you via check, PayPal, or direct deposit with no extra charges.
For instance, you have a $50 Best Buy gift card. After inputting the details, CardCash offers $45. If you accept, the $45 is sent to you without any deductions.
3. Is there any risk of identity theft when buying or selling gift cards?
Identity theft is when someone unlawfully obtains and uses your personal information, often for fraudulent purposes.
No, there should not be the risk of identity theft when buying or selling gift cards.
4. Is CardCash safe to use?
CardCash is definitely safe for use.
Operating since 2009, the platform is not only registered but also provides users with advanced security measures to secure personal data and transactions.
With a physical address and listed contact number, assistance is always at hand. Think of CardCash like a vault – your unused gift cards are safe to sell on it and your personal details are locked away securely.
5. Does CardCash buy stolen gift cards?
No, CardCash does not buy stolen gift cards. That is 100%, not their intent.
When you sell a gift card to CardCash, they require you to provide certain personal details to comply with federal anti-money laundering laws. CardCash uses these details to verify the authenticity of the sale and the seller.
However, remember that CardCash is an online marketplace where third-party vendors sell cards. Although most users are honest, there’s a risk of encountering scams unfortunately, and you should always exercise caution when using the platform.
Learn how to handle an Amazon package says delivered but not received.
6. Is it safe to buy gift cards with a credit card?
It is safe to buy gift cards with a credit card as long as you are using a reputable source.
When you use a credit card, you have the added protection of being able to dispute the charges if you do not receive the gift card or if it is not what you expected.
Make sure you are on CardCash’s legit website and you see the lock on the search bar indicating a secured website.
7. Are there any drawbacks to using CardCash?
One key drawback is the misleading discount rates.
Partner websites listed on CardCash may promise higher discounts than they actually deliver, leaving you scratching your head when your wallet feels lighter than expected.
As part of my Cardcash review, my Red Robin gift card valued at $25 would only receive $15.75 cash, which is 63% of its value.
Another significant concern is the 45-day buyer protection. Your best bet is to use your gift card within this limited time frame to avoid losses.
8. What are CardCash’s payout options?
For most, you want a direct, monetary form of compensation which is quite advantageous for those individuals who prefer having cold, hard cash as opposed to holding onto a gift card that they will never use.
Here are CardCash’s payout options:
Cash: CardCash allows users to sell their gift cards in exchange for cash. You can get a mailed check, ACH payment, or PayPal.
Prepaid Mastercard: Besides cash, CardCash also gives users the option to receive their payment via a Prepaid Mastercard. This is a convenient option, especially for those who like to keep their funds digital or for those who might not have convenient access to a bank.
Another gift card: One of the unique payout options provided by CardCash is the ability to exchange a gift card for another one. This option typically gives you a higher payout amount as well. But, you are limited to the merchants offered.
Just remember, payouts can fluctuate and might be less depending on the popularity of the gift card’s merchant.
9. Is it safe to sell gift cards on CardCash?
CardCash is a trusted platform where you can safely sell your unwanted gift cards.
However, keep in mind that you probably won’t get the full face value of the card, as the company keeps around 8-10% of its value.
Despite this, it’s a reliable way to make some money from unused gift cards. Card Cash is not a scam
10. What should I do if I have a complaint about CardCash?
If you’ve got complaints about CardCash, it’s crucial to voice them right away – that’s how issues get resolved.
Try reaching out to their customer support using the “Contact Us” form on their website.
If your complaint is due to balance discrepancies within 45 days of purchase, then email [email protected].
If that doesn’t work, send a detailed email to [email protected]. Be sure to mention specific problems and desired outcomes.
Most importantly, if there’s an issue with a gift card you bought, ensure you file a complaint within 45 days of purchase to receive a full refund.
My CardCash Review
Having firsthand experience with CardCash, I can share my insights about the process and how it measures up to my expectations.
Firstly, the process was indeed straightforward to navigate. The platform has been designed in a very user-friendly way that facilitates convenience and efficiency. It’s quite simple to get onboard, sell, or purchase a gift card.
However, there was a slight hitch – the value percentage offered. This slippage is more than I anticipated.
According to my experience and perception, the payouts for selling gift cards felt a bit lower than expected.
Here were the values I was given:
=> Olive Garden = 71% of value => Red Robin = 63% of value => Chili’s = 70% of value => DoorDash = not an option to sell
Gauging the 45-day buyer protection guarantee initially, it seemed impressive as it ensures a refund if the gift cards don’t function as advertised. However, there’s a catch – the gift cards should be used within this 45-day window, as the 45-day guarantee goes away.
In a nutshell, the experience with CardCash has been a positive experience. Personally, I would have rather been given the cash to use as a please versus a gift card.
However, all of the local gift card exchange kiosks don’t trade in gift cards. So, I felt my options were limited and chose to use CardCash.
FAQ
Yes, selling gift cards for cash is legit.
You need to use a verified site to avoid a scam.
A credit card is needed on CardCash for several reasons.
In order to use the service, you must have a credit card so that you can be properly verified. This is necessary in order to protect both the buyer and the seller.
This CardCash Review Should Help You
So, you’re considering CardCash for buying or selling gift cards, huh?
Well, on the positive side, CardCash offers an easy channel for getting rid of unwanted gift cards or buying new ones with a discount – sounds like a good deal, right?
Buying gift cards with a credit card from sites like CardCash can be safe, provided you take some precautions.
For me, it was a simple process and I chose another gift card.
Consequently, it’s important to remember that you’re purchasing second-hand gift cards, which could potentially have odd issues come up.
To ensure your value, make use of the 45-day guarantee. For example, if you’re planning a big purchase next month, buy the gift card now and make sure to use it within this timeframe. This minimizes the risk of being left with a worthless card after the guarantee period.
So, do your homework, understand how CardCash operates before diving in, or consider other options for more reliable service.
Just remember, while buying, you pay about 90-92% of the card value, and while selling, you get the same.
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