first time home buyer aurora: Showing How Earnest You Are
- 07/25/22 07:56 PM
The expression "putting your money where your mouth is" demonstrates a monetary sincerity to what could be empty words. In today's competitive market where multiple offers are common, sellers want as much assurance as possible that the buyer is sincere and will close on the sale. The seller who accepts a contract expects the buyer to follow through but, in most cases, doesn't know the buyer either personally or by reputation. The earnest money submitted by the buyer with the contract shows their commitment to the terms of the offer. If the amount is relatively small, the seller could be concerned that … (3 comments)
first time home buyer aurora: Make Your Best Offer FIRST
- 02/09/21 02:59 PM
This strategy is not about trying to negotiate the best price; it is about beating out the competition and buying the home. It may be difficult to understand until you have lost a few homes to better offers but when the reality of the situation is that there are not that many homes on the market, the competition heats up and different tactics are necessary. Sales in December were annualized at 6.76 million, a 22.2% increase year over year according to the National Association of REALTOR®. The median sales price is $309,800 which is up 12.9% from the previous year. Inventory for December fell … (0 comments)
first time home buyer aurora: Home Inspections
- 12/01/20 01:42 PM
A home inspector is another key professional involved in a real estate transaction. Many times, the sales contract will have a provision that allows the purchaser to have inspections made to discover issues that are not readily apparent or have not been disclosed by the seller. It is important to have a qualified individual perform the inspection. Regardless of whether a license is required, buyers should ask about the inspector's experience, training, years in business and if they are familiar with the area and type of property involved. Membership in professional associations can indicate an inspector's commitment to education and training. References from … (0 comments)
first time home buyer aurora: 44 More Times Than a Renter
- 12/17/18 07:52 PM
12/5/2018 The Federal Reserve Board's Triennial Survey of Consumer Finances recently revealed the net worth of a homeowner was $231,400 compared to $5,200 for a renter. The net worth of homeowners increased 15% from 2013 to 2016 while renters' decreased by 5%. Appreciation and principal reduction are the two dynamics that affect a homeowner's equity. Each payment is applied to the interest for the previous month and the principal reduction to retire the mortgage. A $300,000 home purchased with a $294,566 FHA mortgage at 5% for 30 years has an average monthly principal reduction $362 in the first year. Two percent appreciation would … (1 comments)
first time home buyer aurora: Do You Know the Why?
- 11/20/18 07:31 PM
11/21/2018 It may be natural for first-time buyers to be unsure of the process of buying a home because they haven't been through it before but even repeat buyers need to know changes that have taken place since the financial housing crisis. The steps in the home buying process are predictable and generally follow the same pattern. It certainly makes the move stay on schedule when you know all the different things that must be done to get to the closing. In the initial interview with your real estate professional, you share the things you want and need in a home, discuss … (2 comments)
first time home buyer aurora: Act Decisively
- 09/11/18 04:31 PM
Whether it is hesitation or procrastination due to uncertainty, it can cost buyers by having to pay more for both the house and the financing. This is one of those markets where most of the experts expect interest rates and prices will continue to rise through 2019. The National Association of REALTORS® reports there is currently a 4.2-month supply of homes for sale which is close to the same as last year's inventory. Normal inventory is considered to be a 6-month supply. If during the period you're waiting to buy, the price of the home goes up by 5% and the mortgage … (0 comments)
The expression "putting your money where your mouth is" demonstrates a monetary sincerity to what could be empty words. In today's competitive market where multiple offers are common, sellers want as much assurance as possible that the buyer is sincere and will close on the sale.
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