Home Improvements That Pay You Back...

3 Tips For Experienced Home Buyers

You've outgrown your current home and are ready to make some serious moves. Here are three tips for how to do it.

Find a home you can grow into. Don't look for a house that fits you today without thinking about how much you'll like it in five or 10 years.

Focus on natural light. When it comes to resale, good natural light is the number one thing, statistically, people focus on. "If you have good lighting coming through, you will have a much better chance at selling than somebody who did not get a place with good lighting,"

Use a broker. If you're moving out of a place you're selling, you're most likely already using a broker. Use that same person to help you find a new home—if you're staying in the same city—because the agent will be doubly incentivized to find you the perfect place.

3 Tips For First-Time Home Buyers

So you want to buy a home? Have you started looking on the Internet for your dream place? Well, stop right now.

It's so easy to find homes online, "[People] go out and start shopping based on what they think they want vs. at the end of the day what you need—the home you're going to buy today—has nothing to do with what you think you want on day one." 

Get pre-approved. Find out how much you can actually afford to spend.

Use a broker. Buyer's brokers are paid for by the seller, so it's no cost to you.

Buy within your means.  The economy is in a funky place, Do not stretch yourself, because you never know what can happen.

RENT VERSUS BUY CALCULATOR - THERE'S A NEW TOOL IN TOWN

I am sure that most of us have cool widgets for our website that let someone calculate mortgage payments, amortizations, and maybe even home values, but, soon we may be able to install a
Rent Versus Buy calculator.

Trulia, home to some of the coolest tools on the web, recently released their sophisticated calculator that takes into account dozens of assumptions to truly determine which is right for your pocket book – Renting or Buying. The Trulia calculator takes into account the overall cost of renting versus buying including such fields as monthly rent, rental insurance, security deposits, purchase price of a home, down payment, annual tax bracket, net present value, annual renovations planned, how long you stay in a home, local market stats, and more.

 

It is estimated that across America, it is, on average, 38% cheaper to buy a home than it is to rent a home. Cities like Detroit MI, Cleaveland OH, Kansas City KS, Dayton OH, and West Palm Beach FL, topped the list of cheapest places to buy versus rent showing an average savings of over 50%. At the bottom of the list, San Jose, San Francisco, San Diego, Orange County, Los Angeles, Ventura County, Oakland, Sacramento, New York, and Hawaii – all with under 20% savings to be had by buying, 4% in San Jose.

 

While choosing when to buy a home involves more than just number calculations, the Trulia studies and rent versus buy calculator could be a very helpful tool! Hopefully soon this tool will be a widget we can have on our websites and share with the masses! 

When Buying or Selling Real Estate -- Do I Need a Realtor®?

You bet. Navigating a real estate purchase is tricky business. The web has made it possible to do a lot of the legwork yourself, but there’s no substitute for an experienced professional. A crack negotiator who knows the market can save you time, money and heartache by helping you make the right offer—playing hardball when necessary—and staying on top of the process.

Buying a Newly Built Home -- Do I Need a Realtor®?

Buying a new home is exciting. You get to build your dream from the ground up, choosing your lot, your model, interior finishes and upgrades. But like any home purchase, buying new construction is serious business, an expensive transaction with many financial implications.

That's why it's a good idea to obtain representation from a Realtor® when considering a new home purchase. Here's why:

Builder sales reps represent the builder. Often builders have their own agents on site to answer questions, assist people who walk in, and ultimately help with a purchase. Builder reps provide a valuable service: They can explain differences between models and floor plans and share information about financing options, upgrades and specials. But it's important to remember that builder reps represent the builder, as they are contractually obligated to do. "Realtors® are trusted resources for real estate information and can help home buyers navigate the increasingly complex home-buying process," said National Association of Realtors® President Gary Thomas. "The buyer agency agreement ensures the buyer that his or her Realtor® will represent the interests of the buyer alone and not the seller."

Fiduciary responsibility. One of the most important considerations for any buyer is fiduciary responsibility. When you retain the services of a Realtor®, their responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who's contractually obligated to protect you. A Realtor® can help you navigate the new-construction contract; help you understand how specific clauses, riders and upgrade options affect you; and make sure you know what you need to before you sign on the dotted line.

Negotiating a better deal. Finding the right model and picking your upgrades is the fun part. Once you're ready to sign the contract, a Realtor® can work on your behalf to negotiate the terms, from upgrade options to financing and closing costs. In addition, a Realtor® can present other options for financing or might be able to work with the builder's lender directly to get you a better rate for your mortgage.

Shepherding your new home to closing. Signing a contract with a builder is just the beginning. You must also line up financing, work with title companies and attend numerous inspections throughout the construction. A Realtor® can manage that process and can accompany you on inspections to ensure you're not missing anything at each construction milestone.