Jan 17, 2018 | Home Mortgage Tips
Are you in the market for a new house? In a buyer’s market, finding and closing on a beautiful home can seem very easy. However, if you are shopping when the market is hot, you may end up fighting bidding wars and losing your dream home to a competing buyer. Let’s take a look at four tips that you will need to be successful when house hunting in a hot local real estate market.
Tip #1: Do Your Research Ahead Of Time
It should go without saying that in a hot market you will need to move quickly. Making an effort to do all your research ahead of time will ensure that you do not have to later, once you’ve found the perfect dream home. Check in with your real estate agent to find out what paperwork and other material will be needed.
Tip #2: Get A Mortgage Pre-approval
Once you have found your dream home, you may discover that other buyers are interested or have submitted bids. In this case, it is crucial that you can demonstrate that you have your mortgage financing pre-approved. Remember that the seller wants to close their sale quickly and for the best price. Showing up with pre-approved mortgage financing proves that you are serious about buying their home.
Tip #3: Be Ready To Pounce (But Don’t Be Hasty!)
Speaking of being serious, it is essential that you are ready to pounce on the right listing. A hot market means that you won’t be the only potential buyer checking out a home. The last thing you want to do is find the right house, then end up losing the chance to buy it because of unnecessary delays.
Tip #4: Small Sacrifices Are Okay
The final tip to keep in mind is that sometimes you will have to make a small sacrifice to close the deal. For example, the seller may want some special terms added to the agreement. Alternatively, they might ask you to pick up some of the closing costs. Whatever the case, keep in mind that a hot market means that you lose a bit of leverage. If it’s a small sacrifice, it might be worth it.
Buying a house in a hot real estate market can be challenging, but a little preparation will go a long way in ensuring you are the winning bidder. When you are ready to buy your next home, get in touch with your local real estate professionals.
Jan 10, 2018 | Home Seller Tips, Uncategorized
Whether you’re new to the real estate game or you’ve bought and sold a home before, there are many details involved in selling. It can be enticing to think about taking on the responsibility yourself and going it alone, but there are a number of reasons it’s wise to use a real estate agent. Before you make a decision on selling your home, ensure you consider all the details you’ll have to deal with.
Misunderstanding Of The Market
It’s entirely possible for a home seller to look at the MLS listings and determine a price range for their home, but the right real estate agent will have a wealth of knowledge to draw from. In all likelihood, they will be familiar with the neighborhood and may even have sold a few homes in it. This means they’ll be able to determine the right offer for your home and ensure it’s feasible on the market, which may mean a higher price and a shorter selling time.
It Takes Time
While a real estate agent will get a certain percentage of the price for helping you sell your home, you won’t be getting paid anything to do the legwork. However, it’s easy to underestimate how much time it can take to market your home, arrange open houses and deal effectively with all of the negotiating. It may be enticing to do it on your own, but what it might save in money, it may end up eating in time.
The Closing Details
If you’ve determined the price of your home and you’ve received an offer, it can be a great feeling to know that you’ve taken the right steps. However, what happens after you receive an offer is one of the most important parts of selling your home, and a real estate agent will be able to guide you through counter offers and lowering your price if needed. While it may seem like this will be easy enough to navigate, having an agent who’s waded through the waters can help to simplify things.
Selling your home on your own may seem like a money saving opportunity, but the right real estate agent will be able to navigate the market and do the legwork for you while still getting a good offer. If you’re currently preparing to put your home on the market, contact your local real estate professional today for market tips.
Jan 10, 2018 | Home Mortgage Tips
Are you planning on using a mortgage to help cover the cost of a new home? If so, you will want to prepare your finances and figure out how you will manage all those wallet-draining monthly expenses. Let’s take a look at how to run a quick financial health check to ensure you are ready to apply for a mortgage.
Update (Or Start) Your Monthly Budget
First, it is essential to get the basics out of the way. If you haven’t already, it’s time to start a monthly budget to keep track of your income and expenses. Once you have a mortgage, it will be important to prioritize your monthly payments so that you don’t end up falling behind.
Starting a budget is easy and can be done with mobile apps, software, a spreadsheet or a pen and paper. List all sources of income so that you know exactly how much cash you are working with. Then, list out every one of your expenses. It can be tough to remember them all, so consider using debit and credit card statements from the past few months as a reminder.
Get A Copy Of Your Credit Report
Next, you will want to get a copy of your credit report so you can see what potential mortgage lenders will see when assessing your financial history. This is a free service that you can request once per year, so be sure to take advantage. Note that you will want to use government-approved websites for requesting your credit report. Be wary of scams.
Do You Have A Down Payment?
A down payment is not required for every home purchase, but having one saved up can make the buying process easier. The amount you will want to have saved up will depend on the cost of your home, whether you plan on carrying private mortgage insurance and a variety of other factors. If possible, try to save up an amount close to (or more than) twenty percent of the home’s purchase price.
Ready? Chat With A Professional
Now that you have run a quick financial health check, it is time to meet with a real estate professional. Contact us today.
Dec 29, 2017 | Home Seller Tips
Are you experiencing problems with selling your home? A slow sale is no fun, especially if you need a quick sale due to a move or for financial reasons. If you are having some trouble getting potential buyers to stick around, pricing might be the issue. Let’s explore a few reasons why.
Are You Getting Any Offers?
First, are you receiving any offers for your home? If you have, and they are coming in much lower than your listing price, then it could be a sign that you have set your price too high. Even in the hottest real estate markets, it is common to see buyers submitting ‘lowball’ bids as a starting point for future negotiations. However, if all your offers are well below your asking price, it might be time to re-evaluate it.
Who Set The Price For Your Home?
Did you set the starting price for your home, or did you rely on the help of a professional real estate agent or sales team? If you are trying to sell your home without expert guidance, it is possible that you priced your house above its actual value. Remember that a variety of factors, from the condition of your home to current interest rates, will help to determine your home’s value. It is best to rely on the guidance of an experienced real estate agent to set your price.
What Do Local Sales Trends Look Like?
Is your neighborhood considered a ‘hot’ or ‘cold’ real estate market? Are there a lot of local houses up for sale, or a few? What about in the past few months, have many nearby homes sold? At what price? Understanding regional sales trends is critical. If buyers are not buying, then you may be stuck lowering your price.
Reducing The Price? Be Careful
Finally, if you do need to lower your asking price, it is best to do so carefully. A substantial price reduction can send the wrong message to potential buyers. They may start to wonder if anything is wrong with your house, or if it needs some major repairs.
If you are having trouble closing the sale of your home, don’t get discouraged. It is possible that with a small tweak to the price, you can have the hottest listing in the local market. To learn more about how we can help you sell your home faster, contact our professional real estate team today.
Dec 27, 2017 | Around The Home
Do you find yourself itchy and sneezing after an encounter with a friendly, furry dog? You are not alone. The CDC estimates that around ten percent of Americans suffer from allergies related to dogs or cats. But, of course, that is no reason not to enjoy the love of a dog. So, if you are ready to push your suffering aside and adopt a furry pal, below are a few breeds that are perfect for those prone to allergies.
What Causes Dog-Related Allergies?
Do you know what the primary causes of pet-related allergies are? Many people believe that reactions are triggered by hair that has been shed, but this isn’t entirely accurate. Shed hair carries flakes of dead skin known as dander, and it is this dander which causes most typical dog-related allergic reactions.
In an allergy-prone individual, this dander is treated as a harmful invading virus or bacteria. The body issues an immune response with symptoms like sneezing, watery eyes, hives and coughing which can be treated with antihistamines.
Note that it is not just a dog’s dander that can cause a reaction. Dog saliva and urine are also known to carry the proteins that can trigger allergic reactions.
3 Breeds Perfect For Allergy Sufferers
The Poodle – if you are the energetic type that likes to get out and walk, a Poodle might be the right fit. Poodles are recognized as a cleaner dog as they do not shed much fur. They love to get outside and can be trained easily.
The Schnauzer – if you are more of an introvert or have a quiet side, you might find a Schnauzer to be a better companion. These are smaller dogs that aren’t going to beg you to run around for a few miles each day.
The Bichon Frise – this breed is an excellent choice for first-time dog owners and those who prefer smaller dogs. Bichon Frise are happy, friendly dogs that are very sociable. They are not incredibly high maintenance, but they do need daily grooming.
Renting A Home That Doesn’t Allow Pets?
If you are thinking about how great it would be to have a dog but can’t get one due to your current rental situation, contact us today. Our friendly real estate team is happy to introduce you to beautiful, pet-friendly home options in the local area.
