Author: eapcontent

Today’s real estate market is very competitive. As a first-time home seller chances are, you’ll find the whole process riddled with a lot of confusion. With economists predicting a major increase in home sales in the coming years, it’s important that you prepare yourself to avoid any and all potential pitfalls. If you are not caught up with the market, now might be a good time to seek the expert advice of a Realtor. Allowing you to equip yourself with knowledge of the do’s and don’ts of selling a home for the first time.

Here are a few important tips to help you get through process the successfully.

1. Prepare your Home for the Market

Today’s buyers are very picky because they have plenty of options to choose from. For this reason, you may be forced spend a little more time and money getting your home market-ready. If you can afford it, make some low-cost improvements that can really increase your homes aesthetic appeal. Do this before listing it for sale and you should almost always see positive results.

Consider replacing outdated hardware on the cabinetry, broken baseboards, ripped screens, leaky faucets, and make carpentry and masonry repairs. Apply a fresh coat of paint on both the interior and exterior, clean floors and carpeting, and also replace outdated light fixtures. Update the landscape by trimming lawns and hedges, renovating the driveway paving, weeding the garden and making the necessary repairs on the fence.

Remember that the first impression matters most to potential home buyers.

2. Enlist the Help of a Good Real-Estate Agent

As a first-time home seller, you need to understand the importance of having a professional real estate agent to represent you during the sale of your home. There are hundreds of agents out there and therefore it’s crucial that you choose one with considerable experience in the home-selling process.

While you can easily get an agent based on referrals from your friends and family, it’s important to widen your search scope to ensure that you end up with an expert in the field. Consider checking with your local brokerages and agencies, or even look online for reviews of agents on sites like Yelp.

After finding the right agent for you and your needs, you will be required to sign an agreement with the agent and pay a commission. And because the contract binds you to the agent for a period of three to six months, it’s important that you have only the best.

3. The Real-estate Agent you Choose matters more than the Brokerage

While it’s of vital importance that you choose an agent with a good presence and base of knowledge, remember that you will only be dealing with the specific agent, not the company they represent. Real-estate agents are simply independent contractors who opt to hang their license with a brokerage firm whose culture and brand match their business. A good agent will work with you to deliver great results no matter what brokerage they are involved with.

3. Understand the Real-estate Market in your Area

Before listing your home for sale, get to understand the current situation in your local real-estate market. Typically, some real-estate markets boom with sales during specific months. For example, the New York market records huge sales during most of the spring season. Your agent should provide this information ensuring that you sell your home timely and at an optimal price.

4. Correct Pricing is Important

Price is an important consideration for potential buyers. If you have made some major improvements but your home still isn’t selling, then you need to consider lowering the price. To help you come up with the correct price for your home, perform a comparative market analysis by viewing the prices of homes similar to yours that are on sale and also check the past home sales. This way, you will be able to determine the most accurate price for your home.

5. Act Fast Immediately you Get an Offer

Do not wait until you get the ultimate offer in order to close. As soon as you get an acceptable deal, go ahead and sign on the dotted line without wasting time. In other words, don’t lose a good selling opportunity in the hope that something grander will come along.

Considering the physical and emotional stress that comes with home selling, it’s crucial that you are prepared to ensure a successful sale.

If you’ve been researching real estate and you’re stressed out about the thought of moving your belongings to a new property, sit back and read the list below. The key to a stress free move is just to ensure that you’re well organized. If you foresee yourself moving in the near future, relax, most of the thinking has already been done for you.

Items to collect before your scheduled move :

1. Large, sturdy boxes

Before you spend you hard earned money on moving boxes, it’s well worth asking local businesses such as furniture stores to see if they have any large boxes which they’re looking to part with. Alternatively, it’s worth asking friends and work colleagues to see if they have any boxes available. If you’re unsuccessful, you can purchase suitable boxes online or directly from a moving company.

2. Protective materials 

It’s well worth stocking up on protective materials such as bubble wrap and packing peanuts. It’s highly likely that some of your moving boxes may move around inside of your moving truck, during transportation. Also ensure to pick up enough plastic wrap to cover larger items such as sofas and bed frames.

3. Furniture pads

Avoid injuring your back by using handy furniture pads to shift heavy furniture. As a bonus, by using furniture pads you’ll avoid scuffing or marking your flooring. It’s worth noting, that if you’re moving from a rental property, to a new home, you may be charged for any noticeable scuff marks or damage.

4. Moving straps and ropes

Moving straps are dual purpose, not only can they can help you move heavy items such as furniture but they can also be used to secure items in place, once you’ve stacked your items into your truck or van.

5. A dolly (hand cart)

Opt for a upright dolly which will allow you to shift several heavy boxes at one time, with ease. A two wheel dolly should suit your needs unless you need help moving large heavy items such as refrigerator, in which case you may be better off hiring a four wheel dolly, with a flat base.

6. A tool box 

Essential items on moving day include measuring tape, a razor blade or craft blade, a sharp pair of scissors, duct tape and a screw driver. The later of which you may need to use to take large items apart for easy transportation.

What to wear:

Your personal safety should be paramount, so ensure to wear sturdy shoes such as trainers or working boots which boast anti-slip soles, as the last thing you want to do is to drop a heavy item on your foot. It’s worthwhile picking up a pair of tough work gloves, which will give your hands extra protection and will minimize your chance of dropping expensive items. Lastly, make sure to dress for the weather and to wear breathable, comfortable fabrics as you’re likely to work up a sweat, moving items around.

4 clever ways to ensure that your moving day goes as smoothly as possible:

1. Sort your belongings into two lists

Your first step should be to list all the items in your home which you wish to keep as well as all the items you plan to give away or donate to charity.

2. Draw up an inventory

Make sure to draw up an inventory off all the items which you need to shift. Allow room to add extra notes, as an example you may want to make note of the items which you require a dolly to move, or items which are fragile and which need to be wrapped up and secured properly.

3. Don’t rush or make hasty decisions

Make sure that you’ve allotted plenty of time to move your items, without having to be hasty. If possible rent your moving van or truck for a full day, not a half day and start moving your items early in the morning. Make sure to take regular breaks.

4. Recruit your friends and family to lend a helping hand

Moving, isn’t a one person or a two person job, so it pays to ask around to see whether you can find half a dozen able bodied friends or family members to help you out. On the day or removal assign some friends to helping your sort and box items, whilst other friends can be tasked with the duty of moving your moving boxes to your moving van or truck. Just remember to thank your volunteers, be shouting them to a free lunch or dinner.

As long as you’re well organized, you should find that your moving day passes without any hitches!

 

The Problem

Purchasing a home is for most people, the single largest investment they will make in their lives. How will you approach the most important financial decision that you might ever have to make?

A labyrinth of obscure rules, regulations, and unscrupulous sellers looking to make a quick buck await you entering today’s property market. Every year, the lure of a fast, profitable deal without professional assistance leaves many prospective home owners disappointed, paying out of pocket and having wasted countless hours.

The Solution?

The services of an experienced real estate professional can help you navigate your way through every problem listed above.

You need an expert guide when traveling a dangerous path. Why do mountaineers aspiring to climb Mount Everest rely on the services of Sherpa guides? The former are experienced climbers themselves, and spend at least months training before attempting that iconic climb. Yet they defer to the skill and local knowledge of this particular group of people.

Much like the Sherpa have intimate knowledge of the mountains, gained solely through personal experience. A professional agent will have a wealth of knowledge rooted in past experience to help guide you through any challenge you might face.

You should familiarize yourself with the locality in which you intend to buy a home and the price cycles that occur within it. In fact, it’s helpful for the real estate agent when a client knows the location and budget they want to work with because it significantly narrows and simplifies the search. However, it’s still not a substitute for the experience and instinct a professional real estate agent has to offer you. Just like the Sherpa knows where to tread, the realtor’s personal relationships within the industry can help to uncover hidden property gems.

It is not just about finding the right property, realtors are multi-skilled negotiators. Contrary to popular belief, purchasing a house involves several discrete steps that take both time and money.

Good agents do not simply find you a house and leave, they will walk by your side every step of the way from your first look at your dream home to signing the best mortgage deal they can secure on your behalf. At each of those steps, the personal relationships that they maintain with industry professionals can open up opportunities to help facilitate a smooth transaction.

The purchasing process generally starts off with an initial offer. The home owner allows for an in-depth inspection of the premises so the purchasing party is comfortable with the initial valuation. You may make an adjusted offer if the inspection uncovers anything that might devalue the property, or even cancel the deal if the appraisal is overtly discouraging. During all these steps, your real estate agent will be working their hardest to ensure that you receive the very best deal possible.

It’s also important to try and avoid focusing too much on having to pay for the service of a well established agent. It can distract you from all the benefits that will be provided to you during this lengthy process. Keep that in mind when you discuss payment with your agent; ultimately, the odds are the money you spend on him or her will be recouped in the price negotiation process for your dream home.

The Bottom Line

Finding a property that is ideal for your purposes is not a part-time job that can be effectively accomplished by reading listings  in newspapers and online. Such an approach is simply not thorough enough.

Professional real estate agents produce the majority of those listings and the odds of you finding a property that satisfies all your criteria yourself are very narrow.

There is no need to compete with the professionals. Instead, allow them to work for you. It is probably the wisest first step you will take towards the home you have always dreamed of.

If you’re currently renting an apartment or even a home, then you are aware of the steep costs associated with renting. According to recent studies, Americans spend 30% of their monthly income on rent, while those who live in their own homes spend only 15% on mortgages. Now obviously all of us would prefer to own homes, but one of the biggest road blocks is the down payment. For most of us it’s difficult to know when you’re in a suitable situation to take on such an expense. So timing is everything when it comes to making  move like this. Let’s break down what mortgage experts think about the whole issue of switching from a renter to a homeowner. So you’ll be prepared if you find yourself having to make such a transition.

Knowing whether you are ready or not

First let’s go over liquidity, meaning the amount of money you have at your disposal. Generally, those who have fewer debts than others are considered liquid enough to afford a down payment. For example, your car is payed off or nearly so, if you have student related expenses those are taken care of. Essentially a significant portion of your finances are not being budgeted to various debts you may owe. Your financial position should tell you whether you are ready to make that move or not.

The difference between being ready and thinking that you’re ready

You have been looking forward to a place you could call yours for ages now. So It’s understandable that the decision to buy a home is at times nagging at you. Most buyers find themselves making instinctive decisions, only to find that they were never ready to make the move when they did. There are many financial commitments that come with owning a house, and it is important that you keep them in mind when making your final purchase decisions. Home inspections will be required, there are hidden costs you might not be aware of, and the financial responsibility of taking care if a home needs dedication. You therefore need to be very sure about what you want before diving in.

How do your finances affect your moving plans?

Some of us move around a lot, so it doesn’t make sense, financially speaking, to buy a home in one area, only to move to another city or part of the country within the year. In addition, places such as New York are too expensive for homeowners, and moving out of the area is implausible due to work and family demands. So take into consideration where you want to buy your home and how this will impact you with respect to work and your possible need to remain flexible.

How much of your monthly income should you pledge towards mortgage repayment?

According to experts, if your mortgage costs 30% or a little less of your monthly income, then that is a feasible rate. You want to live comfortably and enjoy the trimmings of modern living without having to sacrifice too much to your mortgage payment. Think about the percentage you would be comfortable paying as part of the mortgage. The industry has no set percentages, and some lenders are flexible enough to allow you to pay out what is within your comfort zone. Here’s where it helps to have a very well rounded understanding of your general monthly expenditures.

Homes with down payments of less than 20%

Some of us think that when the percentages are too low, that there’s a catch in there somewhere. I encourage having a keen eye when going over the final paper work however, remember it’s perfectly plausible for numbers to vary based on a quite a few variables so be analytical and thoughtful when reviewing. Keep in mind that this 20% is going to rise steadily if the value of the home is too high. At the same time, avoid going too low on the percentages because that would translate to high installments, balance is key.

To rent or to buy: where is the financial edge?

Again it all really depends on where your finances are at this particular point in time. It makes sense to rent if you think that the down payment on a new home is going to be exacting. And it makes perfect sense to look around for a home when you are sure you can make the sacrifice without veering too far away from your comfort zone.

Leveraging on your savings

The beauty with savings is that they give you a lot of flexibility in life. If you save more, then you are in a position to buy more. At the same time, putting up more money upfront ensures that you enjoy less installments and preferable rates in the long-term.

Moving from renting a home to owning one is a big decision. Find a mortgage professional and pick their brains about your ability to make such a transition. Check your credit score and be wary of any additional costs associated with home ownership. And do not forget to lean on the expertise of a great real estate agent to point you in the right direction.

Everyone who has ever attempted moving cross country will readily admit that it is quite a daunting task. However, sometimes it can’t be helped, a new job a better school system, what ever the reason may be. Despite the odd and demanding nature of this type of move, there are certain things you can do to help make it bearable.

– Treat the entire experience as an adventure

– Pare it down

– Embrace your new location

Treating the movement as an adventure

A move like this will require days or even weeks to complete. A move from Tacoma Washington to Nashville Tennessee for instance, would take you at least four days. If you moved with a modest size family and drove at least 10 hours each day that is. This sounds grueling in just about any context, but if you’re willing to do a little exploring along the way its not all that bad. Regardless of the route you’ll be taking there is almost always something wonderful to see along the way.

Make sure you plan out your journey well ahead of time too. Finding cost effective and adequate accommodations can be difficult last minute. Also don’t forget there are plenty of websites and apps available to you for finding the best possible deal you can.

Pare it down

Moving can be very easy and even enjoyable if you simplify the entire process. People with limited transportation space for instance, need pack only what they consider essential. Take things with you in your car that you feel you have to have in your new home to make it through your first night. Everything else leave to the moving van and always consider that the van could be late. So take things you feel you would need on your first day in your new house.

You might even want to consider taking a planning trip out to your new home before moving everything there. This trip will also let you see what might not be a good fit for your new house. Meaning you’ll know what you should consider selling and what you should consider keeping. Its much easier and cheaper to sell or donate items before your move than it is to sell them when you’re settled, one less thing to worry about.

Also, once you’ve managed to sell the items you wish to part with, you’ll not only pay less for moving everything, but the money you make will help fund your move.

Embrace the new home

When you move across the country you’ll most likely be moving somewhere with no friends or family. When you’re finally settled and you find yourself with some time on your hands, go out and explore the city. Research the highlights of your new community and participate in some of the local activities. Attend events, eat out, visit museums and art exhibits or any other social activity that might interest you.

It also helps to take your family everywhere you go, the kids especially. Going with them to restaurants, libraries, supermarkets and museums among other parts of the new city, helps them embrace the idea that the new location is their new home and community.

Even consider browsing through community pages on Facebook, Twitter, and Instagram. These serve as great outlets for finding local events, as well as meeting local people. Instagram especially is a great way to discover more about the local scene and and all its offerings. Aside from social media check out the different community pages and see what you can find on there. One app and site commonly overlooked in a case like this is yelp, find out what locals are saying about all the different events and places you’re considering.

Make sure you’re kids develop a new social circle as well, encourage them to take part in any extra curricular activities that are offered at their school. This type of move is always much easier when your kids have plenty of opportunity to interact and make new friends.

When you and your family make a move this big its important to remember that perception is key. Its easy to focus on your old home and the people you knew, but try to focus on the new memories you’ll make and the new people you’ll meet. A cross country move can be difficult but more often then not its always a worth while experience.

In the last quarter of 2015, more than 759,000 properties had regained equity. What does this indicate? Basically, almost 91% of all mortgaged properties managed to land the positive equity position a lot of homeowners are aiming for.

To support that, according to the president and CEO of CoreLogic, Anand Nallathambi, for much of the country, the negative equity epidemic is improving and changing for the better. This was made possible because of the continuous rise in home prices for the past 3 years– it serves as an indication that the money flows have increased, while the housing stock’s ratio declined.

No doubt, a lot of homeowners would agree that this is good news. However, are they even aware that because of this, their equity position also changed?

Based on a recent study conducted, Fannie Mae suggests that a lot of homeowners aren’t even aware that their equity position isn’t the same anymore– most of which even underwent a dramatic change. With that, most of them fail to take advantage of the situation.

For instance, the study showed that 23% of Americans still have the misconception that their homes still have a negative position. The truth is, only 9% of these homes are in that standing.

This only implies that more than 32% of Americans with a mortgage fail to realize the opportunity they can enjoy from this kind of situation. Due to the sizable equity position, the majority of homeowners will have the privilege of moving into a new housing situation with ease– something that will definitely meet their current needs.

This issue was tackled on their most recent report.

Wherein, homeowners who have the habit of underestimating their homes’ value doesn’t only underestimate the home equity, but also has the tendency of underestimating the following:

1) The notable down payment that could be settled with the use of home equity;
2) The possibilities of qualifying for the needed mortgages;
3) The opportunities for selling the current homes to buy a new one.

Here’s How to Evaluate the Equity of a Home

For those who are taking out a home equity line of credit, the amount of equity in a home plays a very important role. The home equity is the difference between the current mortgage balances and the appraised value of the home.

Meaning, the more equity a homeowner has, the more refinancing option may be available to the home owner.

Thus, the equity can help the lender determine the loan-to-value ratio– one of the factors the lender must consider when deciding whether the application should be approved or not. Likewise, it will also help the lender determine whether they have to pay for the private mortgage insurance.

Calculating the Loan-to-Value Radio

The loan-to-value ratio is another method on how to determine the amount being owed on the current mortgage.

Current Loan Balance/Current Appraised Value

Example: You have a loan balance of $150,00. Your home currently appraises for $210,000. So, the loan-to-value would appear like this:

150,000/210,000= 0.71

Convert 0.71 to a percentage, and this will give you a loan-to-value ratio of 71%

Knowing how to calculate the loan-to-value loan, as well as having the idea on how this can impact your current situation can help you come up with choices on how to reach your financial goals with ease– whether you should borrow from an equity, refinance, or simply continue paying the down payment.

The Appraisal

A professional appraisal is an integral part of determining the loan-to-value ratio. In case that an on-site appraisal is needed, then the lender must look for a certified appraiser, and this will be the one to calculate the true value.

Homeowner Tip

One of the best ways to improve the appraisal is to make smart improvements in your home. Thus, consulting an appraiser is highly recommended. Likewise, keep in mind that the economic conditions can also negatively affect one’s home value no matter how much improvement is being made.

Final Words

For homeowners, it’s important to familiarize yourself about the true equity of your home, and keep updated on the possible opportunities that go along with this. In such a case that you’re uncertain about the savings needed for the home, contacting a real estate professional can help you figure out the digits. Who knows, you may be surprised after finding out the true value

 

Homeowners can get jittery when that for sale sign starts becoming a permanent feature on their lawns. As potential buyers keep eyeing without buying, you might begin to wonder what exactly is wrong with your property. Why is it not selling? If your house is languishing on the market, it may be time to rethink your selling strategy. Even in a slow market, there are a few things that you can do to get buyers to commit to a purchase. So here’s 6 things you can do to help make sure your house sells.

1.Give it a makeover

Buyers may be skipping your property because they think it requires a makeover. They are more likely to buy a home that requires little or no work at all. You don’t have to splash money on an expensive renovation. Instead, find out from your realtor what it is that buyers didn’t like about the property. You can also ask buyers to give honest assessments of your property. Focus on simple and less costly fixes such as fresh paint or a thorough clean-up. The garden may need a little sprucing up as well. This will not cost you that much, but it may make the difference in a tight market.

2.Lower the price

You may reluctant to lower your selling price especially if you believe it’s a fair valuation. However there is no point in clinging to a dream price if your home has been listed for months on end. The property market is not stagnant. Prices move up and down depending on the economic outlook among other factors. Demand may soften in a depressed market and make buyers very price sensitive. A little cut in price may be enough to seal the deal. This is preferable than waiting for another year. Compare the offerings in the market to get an idea of a competitive price point. Your agent may also have a better idea on price movements in the market.

3.Take a break from the market

The longer your property remains listed, the more it loses its appeal. Buyers can spend a long time looking for that dream home. Once they notice that your property is not selling, they immediately assume there is something wrong with it. They may simply ignore the property after seeing it a number of times. Furthermore, some buyers will take advantage of the situation to negotiate for a much lower price, knowing that you are desperate to sell. Unless you absolutely cannot afford to, take the house off the market for a few months before listing it again. If the market is stagnant, consider renting it for a year or more before putting it back on the market.

4.Evaluate your relationship with your agent

A bad rapport between you and your realtor could be making the situation more difficult. You need to agree on the sales strategy and pricing, so as to prevent unnecessary conflicts with your agent. This can be achieved by having an honest conversation about what you expect from the deal, bearing in mind the prevailing market conditions. Listen to advice from the realtor, since they understand the market and are in touch with potential buyers. Both of you should be flexible enough to change strategy if the current approach is not working. If you feel that the agent doesn’t understand your needs, then you may consider working with a different one.

5.Change your advertising

Most buyers will know your property from listings on real estate websites. This is because most house searches today begin online. It may be helpful to change the photos you have on display and try different shots of other areas of the home. For example, add photos of the garden or a different angle of the kitchen. You may also use a professional photographer if the original photos were not done properly. Property descriptions and other promotional details should also be altered to give our listing a new feel. These small changes may spark interest from buyers and lead to a sale.

6.Comparison shop

Selling property can be tough in a stagnant or depressed market. Ensure you stay ahead of competitors by comparison shopping to see what is on offer. This will allow you to figure out what incentives buyers are looking for. This will allow you to make similar offers or alterations to your property. It will also guide you on the pricing. Since potential buyers are looking around, then so should you.

Finally, it is important to keep your mind open and listen to advice form professionals. Do not stick stubbornly to your own strategy if your house is staying too long on the market.

 

Renting may be a more popular choice for millennials who simply can’t afford to spring for a home, but with rental costs gradually increasing is it still the better choice than opting for homeownership?

Zillow research claims that rent has significantly grown at about two times the speed of wages. At the same time, home buying benefits like home values that retain their pre-recession prices and very low mortgage interest rates have been consistent in almost all areas.

Are you still doubting your financial capability to buy a house of your own? If you have a good credit and a modest entry-level income, then you might be able to afford a condo. Tools such as an affordability calculator can help you understand which condo price ranges are suited for you and your salary.

So, are you excited to commit to a new place you can call home? Here are 5 more reasons why investing in a condo is a great choice for your first home:

1. You Can Save Money

How much are you paying for rent now? In the current market, you are probably paying more for your rent than springing for a mortgage and homeowner association fees, combined! A condo might be more limited in terms of space when comparing to a single family house, but monthly fees and utility bills will be smaller as well. Less space means you can easily heat up or cool down your home whenever you need it.

A condo also provides the benefit of free recreational space and activities, some external repairs, and water might even be included in the HOA (homeowner association fees). This factor drives down the costs of upkeep and maintenance even lower (even when factoring in homeowner fees with mortgage) as compared to renting a house.

2. You Can Save Time

Living in a condo means that you can save time instead of doing outdoor and lawn chores such as trimming the hedges or mowing the grass. You won’t even need to start shoveling snow in order to get to work or the local mall! Homeowner association fees should cover all of that. Plus, dwelling in a community property saves you precious weekend time to do something you love instead of participating in a weekend maintenance project.

3. You Can Make New Friends

There’s no doubt that renting a house gives you quietness and privacy when you need it, but the more affordable ones are pretty far out on the suburbs. This makes it a bit more difficult to get out when you want to visit your favorite hangouts, or eat at your local dining restaurants. Living in a house, in a suburban neighborhood also limits your day-to-day encounters with neighbors and those in the immediate vicinity.

A condo located in a nearby university or an urban spot guarantees that your neighbors and fellow condo owners are young families, grad students and young professionals. The chances to meet new friends increase because there are common recreational spaces and areas to mingle in. Just take your dog out for a walk, or cycle around and you might just meet a new friend! If your condo management team is active, they would also probably get in the community spirit and host meet-and-greet events to get to know your condo neighbors better.

4. A Condo Is A Solid Investment

Opting for a condo is a great investment even when you plan to live in it temporarily. Before signing the agreement, check to see if the homeowner association would allow you to rent out your place. Not all HOAs allow this, and it helps to check every detail before you commit to putting money down. If they do, then great! After a few years or when you need more space to live in, you can put it up for renting and earn a little income along the way.

5. You Can Choose Where To Live

As mentioned earlier, living near the heart of a bustling urban city is more costly than selecting suburban houses farther out. You may not have much of a choice with a limited budget. You will have a broader scope of options with the same budget when looking for condos. That condo in college neighborhoods or downtown areas are still probably lower than a single-family home in the same location!

 

Buying a home can be a scary thing, this type of purchase involves a long term commitment from maintenance to financially. Home buyers often are wary that they will purchase the wrong house and be stuck with an investment not worth their money. However, of the issues most home buyers often face, there’s plenty that can be done to alleviate the all too common fears you might experience when purchasing your new home.

Structural Issues 

One common problem in real estate is a cracked foundation, leaky roof, or dry rot. With issues like these, a good inspector will be able to point all of this out for you and then you can assess the problem as necessary. An inspector is very useful in that he or she is hired to point out every issue to the buyer. So don’t let them slack and ask plenty of questions, its their job to answer them. When you do ask the inspector questions ask for an explanation on this type of issue and when the repair or replacement must be taken care of. Finally if and potentially when an issue arises you should go back to the seller and ask if they will credit you back to repair after the deal closes.

Your Deposit

Another fear buyers often have is the fact that the deposit may sometimes be locked in without the signatures of both parties. However, remember that it is nearly impossible for the deposit to be lost. If an inspection, loan contingencies or disclosure review is done, make sure you work closely with your agent to mark the timeframes. If the contingencies need to be removed be sure to finish establishing every thing at least a day in advance. If you find that you are in negotiations around the date, make sure to extend the contingency date so that you will stay under contract and the protection it affords.

Another thing you should do is find out how the selling agent intends to handle the offers received. Sometimes an agent will accept the first offer when it’s a good one and usually the seller will have a date to review any offers by a certain day. Whenever you are out of town or busy be sure to stay in contact with your agent so that you will not miss out on your dream home as it may disappear from the market while you are traveling or unable to correspond during work.

My Agent Doesn’t Have My Best Interests In Mind

Another concern some buyers have is that their agent does not consider their best interests in conducting business matters. This simply is not true, good agents are almost always on the prowl and keeping an eye on the market with your best interests in mind. If you have doubts and feel that you agent is not on the same page, simply change agents and go with the one you feel comfortable with. Both you and your agent should have a mutual commitment to one another and you should sit down before you start the process and speak with the agent you choose in the same way you would in a job interview.

We Wont Find The Right House In Time

Often buyers are concerned that they will not find the right house soon enough. However a purchase involving thousands and thousands of dollars should not be rushed. If you have some sort of time constraint make sure you have a backup plan. If a school application deadline or expiring lease is a factor, be sure that you have a Plan B if things do not go according to plan A. This will take the pressure off.

Purchasing a new home is not only expensive but also complicated. You never want to rush into making a decision, as a mistake can hurt you in the long rung, so be thorough. It’s safer to rent in the meantime or to use a temporary address while you try to find what in the long run, will be the best choice. Sacrifice the comfort in the short term to make sure you will be happy in the long term, you’ll be glad you did. Whenever you have a concern or fear about a home or the process and anyone involved in the purchase, don’t hesitate to speak up and go with your gut instinct. Avoid rushing and allow yourself to think things through.

 

Statistics have predicted a better performance this year in the housing sector than all the previous years. This includes a visibly strong 2014 that saw interest in condos and single family house outlets hit a sky high. With this increase in performance there are pros and cons that come along with it. So Let’s Talk about how some of these statistics will impact you.

It has been predicted that the mortgage rates will increase from about 4-6% by the year 2017.

It has also been noted that homes in the U.S are getting bigger. Houses in 2014 were 24% bigger than an average house in the 1990s, from the relatively low 2100 to 2400 square feet in 2014. This number is also expected to continue to slowly grow in various sections of the market.

As players in the real estate markets, buyer, seller or even an agent, there are some various factors you’ll needs to keep in mind while you consider tackling the market. In this article well review what is essential for each player.

As a Buyer your aim is always to fork out the best deal at affordable prices.

So how can we make sure you’re making sure that happens? Start by developing specifications before venturing into the market. The location, budget available, the type of home and any stipulations you need to be met. Do you need a live fence? What amount of space do you need?

The average size of a home has been increasing and conversely, the lots have started becoming smaller. This compromise between house space and lot size poses a big question to both the contractors and the buyers in equal measure.

With all needs put in place, the buyer should then contact the realtor or agent. Often, individuals decide to go alone and double up as their own agents and end up selecting house units they really did not have in mind. The agents experience in transacting property will help highlight important details that you might miss.

Another important thing to consider is what market you’re part of. In high energy producing states such as Texas and other metropolitan areas like Las Vegas. The demand for housing units is pushing the cost to nearly unmanageable levels. Avoid such areas they attract unnecessary fees.

The buyer should also have an eye for detail, especially for the little touches. Keep a shortlist of all the pros and cons of all units you see as a viable prospect. With the help of your agent you will surely nail the best deal on offer.

Informative Platforms

Remember, you can always take advantage of the data and information available to you for free. There are various web pages that rate neighborhoods and offer first hand reviews. Take advantage and have a rough idea before the actual inspection.

It’s approximated that it takes an aggregate of 5 months to construct a new home on the U.S. It’s a contrast that one month later, the unit will be occupied or bought already despite the small lots and high density of houses. The Realtor should aggregate the need to nail down a place to live and the value of having the right size of home.

When Are You Buying/Selling?

The season you’re selling/buying is very important as well. Spring will always be the busiest time for the real estate industry, typically a very good time to consider selling. However, depending on the agent representing the sellers interests, the Realtor will advise them appropriately. Spice up the mood of the houses with bright coloring to help them maximize the sales in the spring season. Also consider equipping the buyers with the pre-sale inspection scorecards to avoid inviting disappointments and instances of distrust. It will help explain why the prices have been adjusted accordingly.

The best times to buy would presumably be the same season since buyers and sellers go hand in hand right? While that may be true in most cases it never hurts to check possible listings in the fall and winter. There is always the possibility of landing a very good deal. Even if you find a good deal though always remember to talk with the sellers and make sure your buyer’s interests are well represented.

 

Today the world of real estate is dominated by new technology. There’s new ways to access information and ways to communicate with your agent. Make sure you’ve done your research no matter what part you play in the transaction. If your a buyer, seller, or even an agent knowing everything you need to know will help you get the best possible result.