News, Tips, & More
Most real estate experts would tell you that spring and early summer is peak season for buying or selling a home, and statistics show that they’re right. But that doesn’t mean that the rest of the summer is wasted time for people looking to buy or sell.
August, in particular, can be a productive month, as people are looking to move into better school districts, move before the less than desirable winter months come, and are more anxious to sell after months of unproductive showings.
The home inspection is an essential part of your homebuying journey. Your inspector can identify potential problems in the house, such as foundation damage and a leaky roof, before you head to closing—giving you time to negotiate repairs. However, the inspector only conducts a basic visual inspection of some home components and will not check other areas. While the requirements for a home inspection can vary from state to state, the list below includes the parts of the home that require additional professional inspection. Always make sure you know exactly what is and isn’t part of your home inspection.
With mortgage interest rates remaining low compared to historic averages, many people are financing their home purchases – a move that makes a lot of financial sense.
Whenever you buy a property and intend to take out a mortgage on it, whether it be a house, condo or cooperative, all mortgage lenders will require an appraisal, which is an unbiased estimate of the true or fair market value of the property. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home's market value, and ensure the amount of money requested by the borrower is appropriate.
The homebuying process comes with a language all its own, and two of the terms you may have heard are prequalified and preapproved. While both can be essential parts of obtaining a mortgage and buying a home, you may not know what they mean. Check out the information below to learn how each term may benefit you during your home search.
Over the past year, the real estate market has been marked by unpredictability and, at times, overheated competition. This has resulted in some buyers bowing out after one too many disappointments while other potential buyers put off their home-buying plans, hoping that things would settle down.
Whichever type of buyer you are, you may be thinking ahead to the new year and planning to begin a search for a new home. If so, it’s vital to prepare yourself for the challenges—and opportunities—that lie ahead.
If you’ve been following the real estate market, you probably know that it has been many months since buyers and sellers enjoyed anything like business as usual, with record-low interest rates and inventory in markets both large and small. But now we may be able to envision a return to a real estate market that’s a little more like normal.
When you’re purchasing a home, most of your budgeting is built around the costs directly associated with your purchase. You’re probably planning for your EMD, home inspection, some repairs, your down payment, and closing costs. However, it’s also important to think through the way your budget will change once you’ve signed on the dotted line and bought your first home or upgraded to a new one. Here’s a list of expenses to take into consideration as you prepare for the months and years following closing.
When you're first starting to look to buy, you'll quickly pick up on a few trends happening in the local market. For example, you might notice an over abundance of properties available for sale (indicating a buyer's market), or on the flip side, you might not find very much available (indicating a seller's market).
Either way the market may be heading, there are always a couple of extra tips you'll want to note when looking at homes.
After closing on your new home comes the excitement of planning where to put all your belongings. Which room is right for your comfy recliner? Which will be best to feature your favorite piece of artwork?
Before you start unpacking your belongings, there are several tasks you should consider completing before moving day. These jobs are easier to complete in an empty home but also will make your new house much homier when you move in.
