Congratulations on taking the first step towards owning your own home! The process of buying a home can seem overwhelming, but with the right knowledge and preparation, it can be a smooth and exciting experience.

First and foremost, it’s important to determine your budget and get pre-approved for a mortgage. This will give you a better idea of how much home you can afford and also make you a more attractive candidate to sellers.

Next, do your research and make a list of the must-have features you want in a home. This will help you narrow down your search and ensure that you find a home that meets your needs and preferences.

When you find a home you’re interested in, it’s important to have a professional home inspector take a look. This will help…

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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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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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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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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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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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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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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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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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While a clear title is one that is not burdened with defects such as liens, a "clouded" title has liens filed upon it that prevent the clear and smooth transfer of property. Both parties have every reason to look into issues such as unresolved liens and undischarged mortgages that might sabotage a sale. Instances of mortgages that have not been discharged can be quite pervasive after years of refinancing waves when attention may not have always been focused on properly recording property transactions with the registry of deeds. An alert real estate agent is aware of this possibility and makes sure that the closing attorneys look into such matters as soon as there are signatures on the contract. Hint: Title insurance insures against financial loss from…

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