There are a number of reasons why you may need to sell your home in a buyer’s market, and though getting the most for your home in that situation may seem impossible, there are several strategies you can use to get the best offer for your home. Here are a few tips to getting the most for your house in a buyer’s market! Know Your Local Real Estate Market While the national housing market may be booming, your local market may be very different. A real estate agent can give you the information you need to determine how your local housing market is doing, and whether it is a good time to consider selling. Get A Home Inspection Knowing the condition of your home, and the strengths and weaknesses of your property, can help you make an accurate evaluation of what your home is worth and how best to market it. A home inspection can also point out any repairs that may be required, and you can even use the covered cost of a home inspection as a perk to potential buyers. Make Necessary Repairs Making repairs may seem like an unnecessary expense when selling your home, but these repairs, […]
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When we think of selling a home, the services a REALTOR® can provide usually seem worth the cost of their commission, but what about as a buyer? What can a REALTOR® do for you as a home buyer, and is the commission worth the services they can provide? Here are five great reasons you should hire a REALTOR® when you are in the market for a new home! REALTORS® Can Help You Determine Your Budget—With a few simple pieces of information, a REALTOR® can help you pre-determine what kind of budget you may be looking at for your new home, and can match you with potential lenders that are right for you. REALTORS® Have Access To Resources You Don’t—While a lot of real estate listings are available online, there are still resources and listings that are only available through a REALTOR®. If you are looking for something very specific, having their insider knowledge may be crucial to finding that perfect home. REALTORS® Can Read Between The Lines Of Listings—There are a lot of catchy phrases that often appear in home listings, and your agent can tell you what they really mean. REALTORS® Increase Your Negotiating Power—A REALTOR® cannot only increase […]
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Most people who are in the market for a new home are aware of the costs associated with purchasing a home and moving, but closing costs can be expenses that may be overlooked, especially for first-time home buyers. The amount of the closing costs will depend on where you live, the type of home you are purchasing, and the type of mortgage you are going to carry, but in most cases they can equal anywhere from two to four percent of the purchase price of your home. So before planning your home purchase budget, here are some hidden expenses that you may want to include. In general there are two types of closing costs, recurring and non-recurring. Recurring costs include things like fire and flood insurance, property taxes, and mortgage insurance; these are expenses that will have to become part of your monthly budget and in most cases are often anticipated by new home buyers. Non-recurring costs are one-time costs that are associated with closing a home purchase, and in most cases make up the bulk of extra expenses. Non-recurring closing costs usually include: Title Policies Escrow Wire Fees Delivery Attorney Fees Endorsements Recording Transfer Taxes Home Protection Plans Natural […]
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Whether your kids have moved out or you simply want a lower mortgage payment, downsizing your home has a lot of benefits. You’ll save on utilities, have less to clean, and less to maintain as well. Before you get ready to move to a smaller home, consider these important points that will make the transition smooth. Is Storage An Issue? When you have been living in a larger home, you may not realize just how much stuff you really have. Moving to a smaller place can make it clear in a hurry, because it simply won’t all fit. While you can give away some things or hold a garage sale, there are always things you simply can’t part with. They may be of sentimental value or things you really need for the future. Consider what sort of storage the new place has. If you can’t fit everything, you might need to look into renting an off-site storage unit for the things you don’t need frequently. Will The Furniture Fit? Large furniture does well in large spaces, but may make a smaller room appear cramped and tight. Before you move, a change to smaller furniture might be in order. Take a […]
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A home warranty plan, also known as a home protection plan, is a service contract that offers homeowners a way to safeguard themselves against possible breakage or a malfunction within the home. It’s impossible to predict the future, which is why so many buyers look for that little extra peace of mind to comfort them when life unexpectedly throws them an unforeseen problem. Who Needs A Home Warranty Plan Basically, anyone who purchases a home and is concerned with the cost of repairs should consider a home warranty plan. This is especially true of first-time home buyers who may not be familiar with home maintenance. Factoring In The Cost When factoring in the potential cost of repairing a major appliance or other home component, a home warranty plan may not be a bad investment. The actual cost of warranty coverage will depend on the plan chosen and the items protected. As is the case with everything in life, it’s best to shop around and compare prices. Who Pays For A Home Warranty Plan As a buyer, you can order a home warranty plan in conjunction with the purchase of your home. However, some sellers or builders may include this type […]
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First time buyers can qualify for some helpful loan terms that make getting a loan a bit easier as well as make purchasing a home more attainable. The term “first time buyer,” however, is a little misleading. While these loans are certainly available to those who have never before purchased a home, there are other circumstances under which you may qualify. True First Time Buyers First time buyer loans are, as the name implies, made available to those who have never before purchased a house. These loans are designed to help ease the burden of down payments and other financial difficulties. There are a range of state and federal programs to help those who have never owned a home before; not all true first time buyers will qualify for every program. Previous Homeowners Under many programs, you can be considered a first time buyer again if you have not owned a home in several years—the common rule is three years. That means that even if you did buy a home before, but sold it three or more years ago and have used alternative housing, such as renting, ever since, you are considered a first time buyer. These programs are also […]
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