house: Things to Do After Buy a House
- 04/16/24 07:13 AM
After you have closed and moved your private property to your new home there are plenty of things to do. Following are a few things you need to be aware of to establish yourself in the neighborhood:
Next door neighbors - You need to meet your neighbors and say hello. Neighbors are a source of local knowledge. These people will be aware of the problems and quirks that exist in the area and be able to share common information about the neighborhood. In addition, if you have children, it’s a wonderful way to get to know families that have similar age children … (3 comments)
|
house: Better to Rent or Buy a House
- 03/19/24 06:15 AM
Before buying a house there are several considerations a person must consider before deciding. Here I am going to review some of those considerations:
Financial – When you buy a home the buyer will have higher upfront costs that includes the down payment and closing costs. The closing costs will include such costs as application, inspection, and attorney fees, etc. Mortgage rates will have an impact on your ability to buy and monthly payments. Currently, mortgage rates are showing some signs of easing and allowing buyers the ability to buy. In addition, a homeowner is responsible for all maintenance to the property, … (4 comments)
|
house: Sell Home Now Before Spring Rush
- 02/20/24 06:10 AM
If you are thinking about selling your home in 2024 selling your home early in the year may work to your advantage. Timing makes a difference because home prices rise and fall like stocks. Following are a few thoughts to consider when making your decision:
Mortgage rates – In the past year sellers have been reluctant to sell because they would be paying a higher interest to replace their existing home. Recently mortgage rates have begun to fall, and predictions are expecting interest rates to settle in the mid-6% range during 2024. This means sellers will not lose as much when they … (0 comments)
|
house: When Not to Accept Highest Bid on Your Home
- 10/11/23 06:54 AM
Your house is on the market and there is a shortage of housing. As a seller, when this happens it appears that you are on the winning side and should receive multiple offers. At the same time, you should watch for red flags that may be present when a buyer makes an offer. Many times, sellers think higher offers are always more appealing, and in a market where multiple offers are frequent, this creates an environment where missteps may occur. Sometimes sellers are willing to accept a lower offer because they feel there may be less headaches and a greater chance … (5 comments)
|
house: Difference Between Inspection and Appraisal on Home
- 06/07/23 06:11 AM
One important step that should be included when purchasing a new home is to request an inspection be done on the property. This should be scheduled no later than immediately after a contract has been accepted by both the buyer and seller. Normally, the contract allows a short period of time when this task can be accomplished. The short period of time should be sufficient to inspect and negotiate repair costs if necessary. Inspection identifies the condition of the property prior to finalizing the transaction. Appraisal requires a professional to determine the market value of the property which the buyer desires … (4 comments)
|
house: Tips to Determine How Much Mortgage
- 05/16/23 06:30 AM
Before committing to a home mortgage be sure to calculate how much mortgage you can safely fit into your budget. Homeownership should make you feel secure and safe. This means not taking the largest mortgage that your lender will permit. As a buyer, look ahead to anticipate life event desires and how that might influence the budget. These could include going back to school and/or having a child. Factor these lifestyle issues into the budget. Remember many lenders will not understand or consider your current and future financial personal goals. Lenders base their loan approval on a formula. Following are tips … (4 comments)
|
house: Tips When Buying a Home
- 12/12/22 07:25 AM
Buying a home is stressful, whether you are buying a starter home, upgrading, or downsizing. In a sellers’ market this can be extra stressful. During that cycle, buyers compete in a multi-offer environment. For some buyers it may be advisable to wait for the market to cool off. On the other hand, there may opportunities where buyers can purchase a home that meets their needs and desires. Now let us define types of real estate markets: a balance market is where supply of houses available to purchase is equal to the demand for homes. Housing prices are stable, and houses sell … (3 comments)
|
house: Understand What You Can Afford When Purchasing Property
- 09/07/22 07:30 AM
One of your early steps in your home buying process is to fully understand your finances. This is not a fun step, but a very necessary to determine how much you can afford to avoid future financial problems. This requires gathering financial information to answer questions from a mortgage lender. These questions will include such things as: gross income, monthly expenses, credit card debt and how much you have in savings. Some mortgage lenders recommend home buyers should not spend more the 28% of their gross income on house payments. Your mortgage house payment includes principal, interest, taxes, and insurance. Understanding … (1 comments)
|
house: Competition of Faster Rising Home Prices Versus Seller Power and Wages
- 04/26/22 06:25 AM
Income required to meet the new home affordability standard is growing at a faster rate. This is resulting in less potential home buyers being able to afford higher median home prices and high mortgage rates. At same time, there are sellers that are recognizing some buyers are being priced out and their listing price is too high therefore are dropping their price. Affordability is determined by the amount income needed to cover homeowner expenses which includes mortgage, property taxes, maintenance, and insurance for median-priced single-family house. The past few years low mortgage rates and increase wages helped to offset rising home … (2 comments)
|
house: Real Estate Trends for Year 2022
- 04/06/22 06:21 AM
This coming year home sellers will hold the upper hand, especially through the spring. As we go into the year buyers will be more sensitive to home price increases. This is caused by higher home prices, mortgage rates and cost of other products which will cause potential buyers to tighten their budget. If this happens buyers will take a step back from the market and focus more on their daily needs which may lead to moderating home prices. Too a degree we have already seen this happen last year due to double-digit home price increase. Going forward there will be a … (1 comments)
|
house: 2021 Buyers Viewed Fewer Homes
- 02/08/22 06:07 AM
In 2021, home buyers viewed the fewest number homes prior to buying. According to National Association of Realtor (NAR) this was a record. Low housing inventory and technology are causing buyers to decrease the number of homes they are physically touring. Buyers are first going online to view homes before making the decision to physically tour a home. They are viewing the photos and virtual tours that are available before making any decision. Having professional photos and virtual tours are very important, this improves your chances for buyers to tour the home. If the buyer does not tour the house there … (1 comments)
|
house: Housing Market Still in a Frenzy
- 01/20/22 07:33 AM
At the end of 2021, the housing market remains in frenzy with more buyers than there are available houses. Realtor.com indicates buyers are eager to purchase a home to protect themselves from potential interest rate hikes. The past year buyers were making offers quickly since homes were remaining on market only a few days. This means buyers during the hottest part of buying season had less time to make home buying decision. With rate hikes on the horizon, home buyers may try to beat the higher monthly housing cost in the future. If this happens, this will drive up competition and … (2 comments)
|
house: Unrealistic Expectations First-Time Home Buyers May Experience
- 11/30/21 07:21 AM
First-time home buyers would be better prepared to buy a house if they received up front education on the realities of buying a home. This would help them to be better prepared to handle buyer situations such as: falling in love with a house and then lose the bid after making an offer. One of the ways to prevent this problem: realtors need to have a frank discussion with their client explaining the realities of competition and the amount of money it takes to become a homeowner. Buyers need to become more realistic about what to expect as a home buyer:
Home … (1 comments)
|
house: First-Time Home Buyers Budget
- 11/02/21 06:40 AM
The past several months soaring housing prices has brought double-digit gains and locked out many home buyers. This is especially true for first-time home buyers and caused them to stretch their budgets to a dangerous level. By August 2021 per National Association of Realtors (NAR) median home price for existing homes reached $356,700. This is an increase of 15% from prior year. Recently, there has been increase of inventory on the market, but first-time home buyers are still finding it difficult to afford these higher home prices so they can become homeowners. Per NAR, this past year first-time home buyers comprised … (1 comments)
|
house: Tips To Sell Your Home
- 09/02/21 08:07 AM
Many home buyers have regrets after they buy their new home. Similar thing happens when seller trying to determine whether to sell their home. Many sellers ask themselves what if? Would it be better to wait to sell? Should I negotiate differently? Should I make more improvements to my property? With a lot of money on the line and having little experience selling a home, you may want to pause and do some research before selling a house. Following are some home selling tips:
Determine if you ready to sell – Selling your home is both a financial decision and emotional experience. … (1 comments)
|
house: Popular Front Door Styles
- 05/12/21 09:55 AM
Your front door should make a statement that fits your personal style and the exterior of your house. The door should be attractive and inviting to guest. Choosing the front door, you have several options to choose from, such as: look, design, doors are available in wood, metal or fiberglass with wood and fiberglass being the most popular. Following are the most popular styles on the market:
Traditional – These doors are available in wood, metal or fiberglass and may feature various number of raised panels. Also, these doors may feature glass inserts with scrollwork or colored panels. There are custom options … (1 comments)
|
house: House Hunter Tips for Current Market
- 11/18/20 07:38 AM
In todays’ market, home buyers are becoming more creative with their offers to make it stand out to sellers. This is due to increase number of homes sold causing home prices to rise. This may be good news for non-sellers who are not in the housing market, but not great news for buyers with modest means. Many buyers are turning to the new home market since there is a shortage of available resale houses. Buyers with modest means are finding new home builders focusing on creating higher-priced housing which tends to shut out the lower-end buyers. Based on the above events … (0 comments)
|
house: Potential Problems Missed by Virtual Tours
- 10/21/20 07:09 AM
Home buyers need to be award of the short comings of virtual tour when they are unable to do a physically tour of a house. There are things within a house that are more difficult to identify as potential problems when using a virtual versus touring a house. This may be overcome somewhat by the person taking the photos being able to identify construction, electrical and plumbing problems. Your real estate agent also needs to inspect and provide information back to potential buyer. Up front, a home buyer needs to understand some of the short comings of a virtual tour when … (0 comments)
|
house: Suggestions How to Improve Home Life
- 10/01/20 06:34 AM
A home needs to be more than a place where you live. It should be a place that is a retreat, and where you can relax. Sometimes this is not the case which causes more stress and reminds us of more things that need to be done when we step into the house. Our goal here should be to steer ourselves towards a more relaxing and cozier atmosphere that allows us to forget daily problems from work and outside world. There are some mood changing ideas and household tips that will help you improve your comfort and reduce your daily worries: … (0 comments)
|
house: What to Do Before Home Photo Shoot
- 09/11/20 06:37 AM
Prior to putting your home on the market, home sellers’ need to ensure their home is well lit, clutter has been removed, painting and updating of home has been completed. This all needs to be completed prior to photo shoot. House photos are normally first thing potential buyers see, and they are normally seen first online. From these photos home buyers will make their decision whether they will tour the property. Another factor, photos need to be of excellent quality, and need to have photos of the total property. If the photos do not impress, you probably will not get a … (1 comments)
|
After you have closed and moved your private property to your new home there are plenty of things to do. Following are a few things you need to be aware of to establish yourself in the neighborhood:
;)
;)
;)
