Tips for Buying and Selling at The Same Time

Tips for Buying and Selling at the Same Time

Either buying or selling a home can be extremely stressful, it can be even more overwhelming if one is trying to do both at the same time. The good news is that this happens all the time and by following a few simple tips, both buying and selling can be a seamless process.

Tips for Buying and Selling at the Same Time

The good news is that you’re planning to move any way. Before you list your home for sale, why not start packing now? Take personal items and excess furnishings and pack them up and move them to storage. Not only will your home look larger and neater, you are getting a start on the move.

Next make sure your agent, or agents, understands the timeline and requirements. There are many standard contingencies which can protect you from owning two homes at once, or none at all. Not only can the purchase of your new home be contingent on successfully closing on your current one but you can also reverse the process and ensure you find a replacement before the close as well.

Finally, get the entire family involved. Be excited about the change and create a moving plan in which everyone has a task and there is a plan for the move itself. By taking a few initial steps, moving can be fun and easy.

4 Reasons Why You Need Your Own Agent When Buying New Construction

Top Reasons you Need Your Own Agent When Buying New Construction

Have you ever walked into the model home showroom of a brand new housing development? There is nothing more exciting than the prospect of building a home from scratch and starting absolutely fresh in a new space. You get to pick the colors of the carpet, choose the countertops and flooring and watch as the home goes up. The nice sales people in the showroom are happy to help you through the process, but did you know that you can bring your own real estate agent to represent you? Yes you can and here are the top reasons why you should have your own agent.

• Choose the Right Development – It’s not enough to find a lovely development; understanding the neighborhood and schools play a big part of home values.

• Choose the Right Lot – You might love the corner lot, but your agent can help you consider resale before you buy.

• Consider the Cost of Upgrades – Not all upgrades should be handled through the sales office; your agent can help you understand customary costs for upgrades.

• Contact Negotiation – Did you know that the price and terms of new construction homes can be negotiated? Your agent can get you the best deal.

• Contact Review – Your agent will ensure everything is written correctly in the contract.

• Home Inspection – Your agent will arrange a professional home inspection.

• Your Agent is Free – All this representation and help, yet the home development pays their commission.

New home construction is fun! Take advantage of all the benefits having your own agent representation brings and let the housing development pay for it. For most builders, you will have to bring your agent at first meeting in order to be able to work with her!

The Internet Isn't Your Agent

The Internet Can’t Replace Your Agent 

We live in the information age; the Internet offers advice on every topic and real estate is no exception. With more and more home buyers starting their home search online, they are bombarded with advice and information – it can be easy to think that you can learn everything you need to know just by reading articles online.

The truth is your real estate agent does much more than answer your questions and open doors with a special key. A professional real estate agent will be there every step of the way. They have the experience necessary to navigate the complicated home buying process and solve common hiccups that present themselves in every real estate transactions.

Your real estate agent is a local professional. They will start by presenting themselves to the buyer’s agent as someone who will work with them to see the transaction through to a successful conclusion. They have a network of professionals who will work as a team to help you through the process. These include such professionals as: lenders, title reps, escrow officers, transaction coordinators, home inspectors, contractors and handymen, among others.

Most importantly, your agent is your ally in the home buying process. They negotiate on your behalf – armed with experience and understanding of customary charges, costs and terms.

They will ensure that the price you pay for the home is fair for the condition and neighborhood. They will negotiate repairs, if needed and make sure you are protected with the proper contingencies.

The Internet offers lots of great information, but the most important step you can take when buying a new home, is hiring a local professional real estate agent. Their knowledge and expertise can’t be found by reading an article or two online.

Contact me today with your questions, concerns, or anything else.

Is A Bigger House Really Better?

Is a Bigger House Really Better?

If you are looking for your next home, it’s naturally to assume that you should buy the biggest home you can afford. Certainly if you need a big home, then this is the right decision, but if not then there are other ways to maximize your investment that doesn’t include more square feet.

Bigger isn’t always better. If you don’t need 4 bedrooms, then why spend your money on that? There are many other ways to spend your money.

·      View – View homes will always command higher sales prices than those without. If you enjoy a distant vista, use your money for a view and enjoy better returns when you sell.

·      Space – Space is not only counted in square footage, lot size also adds value and enjoyment to a home.

·      Amenities – Ask anyone who has looked at upscale retirement communities about amenities and how they contribute to qualify of life. Golf courses and lake front homes increase value as well as value.

·      Location – The old adage of location, location, location is true. From the craftsman cottage in the historic downtown to a trendy urban loft, choosing a home in the right location is critical to building value.

Choosing the right home is not simply about resale value, but that doesn’t mean you shouldn’t think about it. First and foremost choose a home that fits your needs and lifestyle, but if that’s not a huge house on the hill, there are other options that are just as good. The bigger house is not necessarily the best choice.

Tips For A Buyer of A Fixer Upper

Tips for a Buyer of a Fixer-Upper

Over the last few years weekend warriors have been delighted to find an abundance of television shows devoted to fixing up homes. More specifically, they show viewers how to take a fixer upper and turn it from an ugly duckling to a special property that they can call home. It sounds so easy but before you grab a sledge hammer and head out to buy that cheap bank- owned building on the corner, there are things to consider.

First and foremost, how handy are you really? Fixer-uppers can vary from cosmetic paint and carpet, maybe changing a countertop or fixtures; then there are fixers which have electrical problems and slab leaks. It’s important to understand what you are capable of handling – either yourself or supervisory level.

Tips for a Buyer of a Fixer-Upper

• Do Your Research – Don’t assume anything. Check for local ordinances and zones to make sure the plans you have for the property are truly available to you.     

• Hire a Professional – Regardless of your level of “handiness” you need professional help. Start with a professional home inspection and understand the true condition of the home.

• Know Your Limits – A great deal is only a deal if you can take on the project. Be honest with yourself. If you need to, hire a General Contractor to handle the renovation.

Fixer-uppers can be great investments. These properties can be converted to beautiful homes or flipped for quick profit, but either way, handled well these ugly ducklings will live up to the best episode of HGTV.

Priority Tasks Before Moving In

Priority Tasks Before Moving In

You did it. You moved into a new home you love and now you’re dreaming of how you’re going to decorate it. But before getting into all of that, there are still some other tasks that need to be at the top of your priority list.

Changing the Locks

Double check them even if you’ve been told that there are new locks installed. It’s better to take safety measures and know that no one else has keys to your home. Call in a locksmith if you want to spend a little money or it can be done yourself.

Call an Exterminator

A great exterminator can take care of any pests that have been lurking in your home.

Get the House Cleaned up

If it isn’t already, clean out the refrigerator, wipe down counters, cabinets, oven if needed, and plumbing fixtures. Prior occupants might have had pets or young children so it’s best to steam clean. This will free your floors of any junk or allergens.

Mechanical Equipment Cleaned

Getting your heating and cooling systems cleaned is crucial and make sure to get a service contract just in case it stops working suddenly.

Get some Closet Organizers

Keep in mind of where everything is going to get placed so it can be accommodated in your closet space. A shelf or a coat hook can go a long way for making room or organization.

Meet the Neighbors

You want to reach out to your neighbors as soon as possible. It’s good to establish yourself within the community and you can get advice on some home repairs like which plumber to use.

Having these as priorities will help you move into a clean, working home. And then, you’re ready to move in with all your belongings and start making it yours!

How To Lower Closing Costs

How To Lower Closing Costs

Closing costs help facilitate the sale of a home and both buyers and sellers pitch in. Some closing costs can be paid before the home is officially sold and others are paid at the end.

However, closing costs aren’t set into stone and they can be negotiable. You can ask your real estate agent or lender with help in estimating your actual closing costs. Look over everything to make sure all the numbers are right and then you plan accordingly in how you’re going to lower them.

Loyalty Programs

 Some banks offer assistance to buyers when they use them to help pay for the purchase. It’s a way for a bank to reward loyal customers. Unfortunately this is not very common in today’s market.

Closing at the End of the Month

Schedule your closing at the end of the month so you don’t have to pay the per diem interest for so many days.

Get Multiple Quotes

Get estimates from different lenders because you’re looking for the best package of closing costs and interest rates. There might be something better out there. Please note that comparing lenders true costs on mortgages is not as simple as choosing between interest rates or APRs.

Junk Fees

 There may be some fees a lender charges that may be negotiable, such as origination fee, processing fee, or application fee. Make sure to ask if what you are being quoted is the best they can offer.

Title Costs

Sometimes title insurance and settlement are bundled together. You may be able to find a title and settlement company that is less expensive.

Negotiate With the Seller

You can try to negotiate with the seller in paying for some of your closing costs. Buyers can ask for credit or to cover lender expenses during the offer and negotiation process. This should be covered with your real estate agent in your initial consultation.

Top Tips For House Hunting Online

Top Tips for House Hunting Online

Hunting for a new home online a is a great place to start your search but keep in mind that you don’t see everything. Real estate agents are great at highlighting the features of a house listing online but to make the most of your time, keep these three things in mind:

Identify your Housing Needs

Preferences are important when house searching. A house may not have everything you want but it will have most of the things. Be realistic about pricing and keep in mind the must-have items that will definitely be needed because this will help narrow your search.

Stay up to Date

When you start your search, make sure you go to sites with up-to-date listings directly from the multiple listing service. Realtors post their most current homes for sale through this. Many sites fail to remove listings that are already off the market, and this can lead to you trying to sort through them and find the recent ones. Also note that Pre-foreclosure is not a property for sale so avoid website with properties not actually for sale.

Pictures can be Deceiving

Photographers capture listings at their best. They use different strategies and tools to boost the appeal of the home like creative editing and expensive camera equipment known for its effects. What they don’t show is unappealing parts, like an undone bathroom or small closet.

Go See The Listing After

After you have chosen a house that’s appealing to you, schedule a showing with your real estate agent. This is the opportunity to see every part of the house in person and see if it’s a good fit.

Searching online is a great way to learn more about the house you’re looking for. Even if you’re still unsure about moving, house hunting online gives potential sellers the basic information.

Fill out my Buyer Survey and I will be able to customize a search for you with up to date information.

Qualifying For a Loan- What Do I need?

Qualifying for a Loan – What do I need to qualify?

Before you start searching for your new home, the first step is to speak with a lender and determine your budget. This is being pre-qualified for a loan. Once you find the right home, then your lender will order an appraisal of the property and complete your financing. If this is your first home purchase, or if it’s been awhile since you’ve purchased, understanding how to prepare for the qualifying process is the first step to success.

What do I need to qualify for a home loan?

When preparing for your meeting with the lender gather all the pertinent documentation and bring them with you. Most lenders will want to see 2 months of employment pay stubs and bank records as well as the past 2 years of tax returns. After reviewing your income and savings, the lender will also order a credit report which shows all your recurring debt and payment history. This will be used to determine your ability to pay the proposed mortgage.

How does credit, down payment and income affect my ability to get a loan?

There are a variety of loan programs available. From 0% down VA loans to traditional 20% down loans, your lender will review all your options with you so you can determine the best program. Some government guaranteed loan programs, such as the VA or FHA, are more lenient with your credit score requirements as well as other qualifications, such as debt to income ratios.

Qualifying for a home loan might feel overwhelming, but your lender can walk you through the process and requirements. After learning your options, you can make the best financial decision for your new home loan.

Foreclosures- What is A Foreclosed Property?

Foreclosures – What is a Foreclosed Property?

Unfortunately since the mortgage meltdown, foreclosed properties have become more common. Many home buyers see this as an opportunity to find a great home for a bargain price. While foreclosures can offer some nice discounts, understanding how foreclosures work and how this affects the buyer is critical to ensure you are getting a good deal and not a disaster.

What is a Foreclosure?

First it’s important to understand what qualifies as a foreclosure. A foreclosure is a property which has been taken back by the lender in order to satisfy an unpaid mortgage debt. It is owned by the bank or lender and they have now listed the property for sale.

Can I save money buying a foreclosure?

Yes and no! It’s true that lenders do not want to hold onto their foreclosed properties longer than they need to, but they also understand the value of the home in its current condition.

While deeply distressed properties might be listed at very low prices, good homes in decent condition might not be listed below comparables in the same area.

Is the buying process different from a traditional sale?

The actual buying process is the same; you write an offer, obtain financing and close. The differences lay in the protections and opportunities for negotiation during the process. Most foreclosures are sold “as is” and the lender will not negotiate repairs of any kind. There could also be clauses which remove other contingencies, such as financing or appraisal. The buyer needs to read the agreement very carefully.

Buying a foreclosure can be a great way to find a nice property at a discounted price. Not all properties are a good deal however. Understanding the foreclosure market and reading the contracts very carefully is the key to buying a foreclosure – this way you get the most home for your money without buying a problem.

Ask me for more advice as to whether foreclosures should be part of your home search.