Looking To Sell Your Home?

You are looking to make a move to another town, city or maybe a completely different State due to maybe a new job is relocating you or maybe, you are tired of the community you are currently living in and just need a different scene. Whatever, the reason we wanted to give you some tips on selling your home for the very first time. 

Most people choose a real-estate agent who is a friend of a friend; however, we recommend looking for an agent who does a lot of business in your neighborhood. Completing a quick Google Search for a Realtor in your city will bring up many results of Agents who work in your area and Google does provide Reviews on the Agents listed in the search results. You want an agent who is familiar with the area and knows the market value of the surrounding homes to assist you in determining how much your house will sell for. 

If affordable, do what you can to make the appearance of your home, inside and out, look like a place someone wants to move into. This could be anything from replacing damaged baseboards, screens, leaky plumbing and any other cosmetic repairs. Landscaping the outside of your property to make it look like a home that is in good showing condition to potential buyers.

Not only will your agent list your home on MLS, Multiple-Listing Service, they will also market your home on listing websites, perform open houses and direct mail postcards. Talk with your agent how he or she plans to market your home for sale. 

A professional real-estate agent will know how to price your home. Your agent will research what other homes in your area are selling for which assists you in not overpricing your home. Overpricing your home can hinder the attraction of potential buyers. We recommend listening to your agent’s advice to attract potential buyers right away and get a quick offer. 

Try to be as flexible as possible as to which days and/or time of theyou’re your home can be shown to potential buyers. Buyers want to see your home as soon as possible; otherwise, the buyer will look at other homes and lose interest in yours. 

Determine what you will give or take on selling your house. Determine the price, closing date, repairs and closing costs. Try to prevent any minor items from getting in the way of losing out on selling your home. 

If you have any questions or need assistance with getting your home on the market, give us a call at 951-837-7394. 

First Time Buying A Home

Buying a house for the first time? The process for a first-time home buyer can seem complicated and a little stressful. We have listed a few helpful tips for when you are ready to purchase your first home.

If you are not doing it now, start saving your money. Purchasing a home requires a down payment. Most loans require a down payment of 20%; however, there are many other loans available that offer low and no down payment options for people who qualify. For example, a FHA loan require a 3.5% down payment and a VA Loan offers active and retired military members favorable loan terms with 0% down. Be sure to talk with your lender about the various loan options available so, you will know how much of a down payment you’ll need to make. Keep in mind you will need funds for closing costs and don’t forget about the cost for any maintenance and/or emergencies that may occur once you are a homeowner.

Check on your credit score and learn how to manage it. Your lender is going to check your FICO® credit score, which is very important. Credit score is a number ranging from 300 to 850 that sums up your credit history. Your credit history is information that includes: Length of credit history, your payment history, any outstanding balances, types of credit used and the number of credit inquires.

The credit score shows the lender your credit worthiness and the risk of lending to you. This can also affect your interest rate and loan type. Keep in mind the higher your credit score, the better. To check your credit score there are plenty of free services available… Such as Credit Karma, Experian and etc… 

If you need to build up your credit score, ask your lender or a financial professional for advice. Or again, Credit Karma and Experian offer assistance with restoring your credit score. 

What can you afford? What is your current monthly budget? If you are renter, how much do you currently spend on rent each month? This can assist you with deciding on a housing budget. Are you able to commit to this amount? The lender will give you a loan estimate that will show your estimated monthly payment. Be sure that you will be comfortable with this amount of money every month. Don’t forget to include the other expenses involved in owning a home such as… water, electric, cable, etc. 

Don’t allow yourself to max out your budget just because the lender informs you that you qualify for a certain amount. If you qualify for a $500,000, be extra certain that you are able to consistently make the monthly payments. 

Don’t forget about Closing Costs. Whether your loan may be a low or no down payment option, buying a home may still involve some cash up front. This is the closing cost. Closing costs range between 2 to 6% of your purchase price. It includes the title, recording fees, prepaids, escrow, loan related fees, mortgage insurance, and third-party fees. When making an offer on a house you and your agent can negotiate with the seller to cover some of your closing costs. This also depends on the type of loan you get.

Additionally, you may have to pay for the home inspection and appraisal fees before closing. Ask your your agent and lender about what you will and will not be reimbursed for at closing.

Following our tips will have you better prepared to help make your first house purchase more exciting and less stressful. When you are ready to make a purchase contact us at 951-837-7394.