Get a Pre-Approval!

Be the best buyer you can be!

The importance of speaking with a mortgage rep or broker, and getting a pre-approval cannot be stressed enough.

In fact, it should be one on the 1st things you do, if not the very 1st thing.  This is assuming that you have a general Idea on where you want to buy.  Your desired location’s property taxes are a factor when it comes to pre-approvals.

I do meet buyers every now and then that want to find their house first, then get a pre-approval. This usually does not work out. Learning that a house that you like is not in your price range can be demotivating and delay you in accomplishing what you want. 

Even worse is finding a house, getting pre-approved for the price but since you needed a day or two to get…

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Knowing when to buy or sell your home

Life of a realtor

Being a Realtor means that people always ask you if NOW is a good time to buy or sell. This is not just at the obvious places such as my office or a listing appointment, but everywhere. I mean everywhere. Weddings, BBQs, in line at the post office, even in my own house from the guy fixing my fridge. I do not mind it at all. Especially since I enjoy talking about Real Estate.

Usually, they are expecting me to bring up some statistics demonstrating the strength or weakness of the current market. I don’t, at least I don’t START with that.  Why?  If someone is thinking of buying or selling THEIR home, their reason almost always has nothing to do with the market, and I rather discuss that.  

Here are some reasons why 

Why you want…

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At the Midway Point

Sellers shouldn't be overly swayed when they read that home prices have gone up a declared percentage in their areas. That doesn't necessarily mean that their homes increased in value by that stated amount. The fact is that reports of increases and decreases in home prices are typically quoted as changes in the "median home price", which is the price that is midway between the most expensive home and the least expensive home in the area during a specified period of time. During that time, half the buyers bought homes that cost more than the median price, while another half purchased houses below the median price. When buyers purchase more expensive homes than less expensive ones, the median price rises.

HINT: Each home for sale should be realistically…

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One Seller, One Buyer

Because most people are focused on the holidays, there are usually fewer home sales between Thanksgiving and New Year's than at other times of the year. Conversely, the months of April, May and June are particularly strong months in the real estate market. Historically speaking, up to 35 percent of all home sales occur during these three months, as families with children time their moves to coincide with the end of the school year. However, not every buyer or seller has the luxury of timing the sale/purchase of a home. When circumstances dictate timing, seasonal trends matter little, and success largely hinges on personal circumstances, which can often be exceedingly compelling. A sale only takes one seller and one buyer.

If you are looking to sell…

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Millennials on the March

So-called "millennials," the generation of about 75 million Americans between the ages of 18 and 34, have been slower than previous generations to buy homes. Constrained by student debt and tighter lending practices, millennials have also been suspicious of entering the real estate market after the downturn. However, now that the market has consolidated and rents are rising, millennials are showing signs of interest in homeownership. In fact, a recent survey reveals that, while only 26% of millennials currently own homes, 71% want to purchase residences of their own. Spurred by a desire for greater privacy and the wealth-building power of homeownership, this generation of young Americans is ready to stake its claim. Be ready, sellers!

The number of…

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Taking A Realistic Approach To Selling Your Home

According to a survey by the National Association of Realtors, 83% of respondents viewed their homes as a good financial investment. The trouble is that when it's time to sell a property after the average seller has lived in it for a decade, emotions often overtake reason. Generally speaking, what a seller thinks his or her home is worth and the price he or she can actually sell it for are often two very different numbers. A seller should not think that buyers really care what the seller originally paid for the home or how much money has been put into improvements. The only number that matters is what someone is willing to pay for the property under the current circumstances.

Having comprehensive marketing materials provides potential buyers with…

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Selling Points

To be successful in today's real estate market, sellers must market their homes in ways that directly appeal to tech savvy buyers. Because they are used to getting information immediately on their mobile devices, many prospective buyers expect to view properties when it best suits them. No longer willing to wait for open houses, buyers often want to see a home as soon as possible. This means that sellers must exercise a but more flexibility in terms of making their homes ready for viewing, often on a moment's notice. On top of that, sellers should engage the services of an agent who knows how to market a home online with enticing photographs, video walk throughs, and social media commentary.

HINT: According to one online residential real estate…

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Lasting Impressions

Defying conventional wisdom that holds that retirees either downsize their homes or move to a more favorable climate, seniors are now tending to "age in place", Three quarters of the people age 45 and over surveyed by AARP indicate that they will stay in their current homes as long as they can. With this emphasis on stability in mind, buyers with young families may want to select a home that speaks to more than their immediate needs. This selective approach to home buying may include a preference for ranch style homes that can accommodate older adults with limited mobility. It also may pay to view bedrooms with an eye toward converting them to hobby rooms and offices once the children leave the home.

HINT: Buyers with young families and long-term…

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Something in the Air?

Sellers must rely on their agents' recommendations to point out things that they can do to make their homes more attractive to prospective buyers. This includes removing sources of unpleasant odors that sellers may have grown so accustomed to that they are unaware that they pose a problem. People searching for homes often find themselves assaulted by the scent of cigarette smoke and cooking aromas that permeate the walls, floors, and furnishings. If sellers do not undertake deep cleanings, rug replacement, and other procedures needed to remove odors from their houses, they risk losing sales. Unpleasant odors can not only increase the time that a home spends on the market, they can reduce the sale price.

Hint: Air fresheners only mask odors. To…

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Interesting

As interest rates on home mortgages have hovered at or near record low levels in recent years, prospective buyers and sellers have both derived potential benefits. For buyers, a low 30 year fixed mortgage rate means that they will be able to afford the most house for their money. For sellers, this greater buyer affordability translates to higher asking prices. However, as they as, "good things do not last forever." As the Federal Reserve continues to hint at the direction that interest rates will take, there is nowhere to go but up. The only question is, "When"?  According to a National Association of Realtors' forecast, rates will reach 5.3% in 2016. Can you afford to wait?  Give Rosa Agency, Inc. a call to discuss the home buying process 201-997-7860.

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