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Posted by Julie Shanks on 1/26/2020

Purchasing a home in a buyer's market may seem like a fast, simple process. However, it is important to realize that homebuyers constantly compete for the best residences in cities and towns nationwide. And if you're not careful, you risk missing out on an opportunity to acquire your dream house.

What does it take to secure a home in a buyer's market? Here are three tips to ensure that you can do just that.

1. Study the Housing Market Closely

A buyer's market features a large assortment of top-notch residences and a shortage of property buyers. As such, this market heavily favors homebuyers, and property buyers who examine the real estate market closely may be able to boost their chances of purchasing a terrific house at a budget-friendly price.

For homebuyers, it is essential to establish criteria for your dream residence. With homebuying criteria at your disposal, you can narrow your search for the ideal residence and accelerate the homebuying process.

Don't forget to check out homes in-person, either. If you set up a home showing or attend an open house, you'll be able to envision what it's like to own a home and determine whether a residence is right for you.

2. Get Pre-Approved for a Mortgage

What good is shopping for a house if you cannot afford to pay for it? Fortunately, you can get pre-approved for a mortgage to understand exactly how much you can spend on a new house.

To get pre-approved for a mortgage, you'll want to meet with several banks and credit unions. These lenders will be able to offer insights into a variety of mortgage options, respond to your mortgage concerns and questions and help you select a mortgage that suits you perfectly.

Pre-approval for a mortgage is vital for homebuyers, particularly in a buyer's market. If you have a mortgage in hand when you explore available homes, you may even be able to avoid the temptation to overspend on a residence.

3. Collaborate with a Real Estate Agent

When it comes to navigating a buyer's market, a real estate agent can deliver outstanding support.

A real estate agent can teach you about the intricacies of buying a home and help you streamline the homebuying process. He or she also will be available to respond to your homebuying questions, ensuring you can make informed decisions as the homebuying journey moves forward.

Perhaps best of all, a real estate agent can help you alleviate stress as you search for your dream home. This housing market professional will keep you up to date about new properties as they become available, set up home showings and negotiate with home sellers on your behalf. By doing so, a real estate agent enables you to focus on what's important Ė purchasing a first-rate house at a price that matches your budget.

Buying a home can be challenging, even in a buyer's market. But with the aforementioned tips, you can simplify the homebuying process and move closer to securing a house that meets or exceeds your expectations.




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Posted by Julie Shanks on 1/19/2020

Photo by Jean van der Meulen via Pixabay

You are nearing the end of a building project when your general contractor reminds you that it will soon be time to finalize your lighting, fixtures and appliances. You have been looking and saving different ideas for months, so it seems it should be easy to make your final decisions right? Here are a few ways to solidify your new accessories.

What Is Your Style?

Itís not uncommon to find yourself liking a variety of styles; however, itís usually best to find a style that is most appealing to you and carry that style/theme throughout your home.

Did your last home have gold fixtures and now the trend seems to be silver or brushed bronze? Don't let the past define your future style. Be open-minded as you explore what new styles you might find yourself drawn to, and solidify the one that speaks most to your tastes.

Online Ideas

Online research can be very helpful. Is your style Old World, Traditional, Contemporary or cottage charm? With many styles to consider, you might feel a little overwhelmed. But before you know it, youíll discover a style that brings a smile to your face. If Traditional is your choice, all you need to do is search key terms such as "traditional style kitchens," "traditional bathrooms" or even "traditional style landscaping," and youíll be shocked at all the options you have to choose from.

Budget

Before moving ahead too quickly, remember your overall budget. Do you have a particular refrigerator or stove you were hoping to have, but it does not fall into your budget? You may want to prioritize the appliances that youíve been hoping for and scale back on a few stylistic choices.

Moving Ahead

Now that the research is complete and you know the style and appliances you are you want, itíll be fairly simple to pick your various items. The general contractor will provide you with an online or local home improvement store in which to choose each item, along with sizing and itemized cost parameters.

Cherry on Top

Once all your necessary items are set in place, you can add the finishing touches as you incorporate color and texture. Furniture, pillows and other decor such as family photos and art will add the needed warmth and personality to turn your house into a home.

Not sure where to start? Ask your real estate agent for the names of reliable decorating and interior design professionals in your area.




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Posted by Julie Shanks on 1/12/2020

For those who want to enjoy a successful home selling experience, identifying your target buyer is key. Because if you understand why buyers may choose your residence over other available houses, you can promote your home to the right groups of buyers. And as a result, you may be better equipped than ever before to streamline the house selling journey.

Now, let's take a look at three tips to help you identify your target buyer so you can promote your house effectively and speed up the home selling process.

1. Consider the Buyer's Perspective

Think about why a buyer should choose your residence. Then, you can find ways to promote your house's features to the right groups of buyers.

Ultimately, a home listing can make a world of difference, particularly for those who want to engage and inform prospective buyers about a residence. If you analyze the buyer's perspective, you can craft your house listing accordingly.

For example, if your residence is located just minutes from top beaches, you may want to include this information in your home listing. On the other hand, if your home offers multiple bedrooms, you may want to include high-resolution photographs of these bedrooms in your listing to show off the size and beauty of your house.

2. Conduct an Inspection

A home inspection generally is completed after a seller accepts a buyer's offer to purchase his or her house. But when it comes to identifying your target buyer, you may want to conduct an inspection prior to listing your residence.

During a home inspection, a property expert will examine your residence and offer insights into any underlying issues. You then can prioritize home upgrades, and as such, make your home more appealing to potential buyers.

With a home inspection, you may be able to gain insights into your residence that could be difficult to obtain elsewhere. Thus, if you perform an inspection, you can find ways to improve your residence so you can make your house an attractive option to dozens of prospective buyers.

3. Consult with a Real Estate Agent

If you are unsure about how to target buyers, you may want to collaborate with a real estate agent. In fact, if you have a real estate agent at your side, you can receive expert home selling advice any time you need it.

A real estate agent understands the challenges commonly associated with selling a house and can help you address such issues. First, he or she will develop a personalized home selling strategy and help you showcase your residence to the right groups of buyers. He or she next will host home showings and open house events. And if you receive an offer to purchase your home, a real estate agent can recommend whether to accept, reject or counter this proposal.

Devote time and resources to learn about your target buyer Ė you will be glad you did. If you use the aforementioned tips, you can identify your target buyer and map out a successful house selling journey.




Categories: Uncategorized  


Posted by Julie Shanks on 1/5/2020

Purchasing a home should be fun, memorable process. However, many homebuyers struggle with fears as they embark on the process of acquiring their dream homes.

Some of the most common homebuying fears include:

1. I will pay too much for a house.

Overspending on a house is a common fear among homebuyers nationwide.

If you pay too much for a house, you may struggle to afford the monthly payments for the duration of your mortgage. Perhaps even worse, your house may lose value over time. And if you eventually decide to sell your home, you may be forced to accept less than what you initially paid for it.

Ultimately, an informed homebuyer will understand the differences between a buyer's market and a seller's one. He or she will be able to determine whether a home is affordably priced and proceed accordingly.

An informed homebuyer also will know the importance of getting pre-approved for a mortgage. With a mortgage in hand, this homebuyer will understand exactly how much that he or she can spend on a house.

2. I'll wait too long to submit an offer on a residence.

If a homebuyer is uncertain about buying a particular house and waits too long to submit an offer, he or she risks missing out on this residence altogether.

Fortunately, there is a simple way to avoid this problem.

A homebuyer who knows what he or she wants to find in a dream home can narrow a home search. Then, if the homebuyer discovers a home that matches or exceeds his or her expectations, this individual can submit an offer right away.

Don't forget to submit a competitive offer, i.e. one that accounts for the needs of both a homebuyer and home seller, as well. A competitive offer will stand out from other proposals and increase a property buyer's chances of securing his or her dream residence.

3. I'll buy a home that will fail to maintain its long-term value.

What you pay for a home today is unlikely to remain the same over the course of several weeks, months or years. But a homebuyer who employs an expert home inspector can learn about a house's strengths and weaknesses and ensure a property is a viable long-term investment.

A home inspector will conduct an assessment of a house after a property seller accepts a buyer's proposal. At this point, an inspector will examine a house's interior and exterior and identify any potential issues. Lastly, a home inspector will issue a report with his or her findings, and a homebuyer will have a final opportunity to modify or rescind an offer on a house.

For homebuyers, it is important to work with a trusted home inspector Ė you'll be glad you did. This home inspector will go above and beyond the call of duty to evaluate a house before you finalize a home purchase.

Working with an experienced real estate agent may benefit a homebuyer too. With a top-notch real estate agent at your side, you can get the support you need to acquire a first-rate home that will maintain its value both now and in the future.




Categories: Uncategorized  


Posted by Julie Shanks on 12/29/2019

For many individuals, the homebuying journey often begins with getting pre-approved for a mortgage. Because if a buyer has a mortgage, he or she can enter the real estate market with a budget in hand.

Ultimately, there are many signs that now may be the perfect time to apply for a mortgage, and these include:

1. You're ready to upgrade from an apartment to a home.

If you're tired of paying monthly rent for an apartment, purchasing a house offers a viable alternative. And if you get pre-approved for a mortgage, you can move one step closer to moving from an apartment to a house.

In most instances, a home offers a significant upgrade over an apartment. Many residences are available in cities and towns nationwide that offer more space than apartments. Plus, as a homeowner, you won't have to worry about dealing with a landlord.

2. You feel good about your credit score.

If you have a strong credit score, you likely are a great candidate for a mortgage. In fact, you may be better equipped than others to get a favorable interest rate on the mortgage of your choice.

Understanding your credit score is a key part of the homebuying journey. You can request a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Then, once you find out your credit score, you can determine whether you are in good shape to pursue a mortgage.

3. A buyer's market is in place.

In a buyer's market, there usually is an abundance of top-notch houses and a shortage of buyers. This means a homebuyer may be able to get a wonderful deal on a house, especially if he or she performs a comprehensive house search.

To find out whether a buyer's market is in place, you should check out the prices of recently sold houses in your area. Also, you may want to find out how long recently sold houses were listed before they sold. By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and decide whether now is the right time to apply for a mortgage.

If you're interested in getting a mortgage and starting a house search, you may want to hire a real estate agent too. Because if you have a real estate agent at your side, you can receive extensive support at each stage of the property buying journey.

A real estate agent will teach you everything you need to know about pursuing a house. He or she will offer insights into the local housing market and ensure that you can conduct a successful house search. And if you ever have concerns or questions along the way, a real estate agent is ready to respond to them.

Want to launch a home search? Get pre-approved for a mortgage, and you can take the first step to acquire your ideal residence.




Tags: Buying a home   Mortgage  
Categories: Uncategorized  




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