Is the Shifting Market Bad for Buyers?

For quite a while, we were in a seller’s market. All sellers had the upper hand; most sold their homes for more than they listed.

Fast forward to today and that’s no longer the case.

Home inventories have fallen and interest rates have skyrocketed. So is this good news or bad news for buyers?

For now, it’s good for buyers – here’s why.

If you’re in the market for a house, you might think about the features the house has or the price, but how often do you think about the mortgage rate?

Many buyers I work with don’t realize the importance of the mortgage rate, so I’m here to clear the air so you make an informed decision.

What is a First Time Buyer Program and How do you Qualify?

First-time homebuyers have one major obstacle – the down payment. When you already own a home and sell it to buy another, usually you have equity to use for the down payment. You don’t need much money out of your own wallet, making it easier to qualify for financing.

If you’ve never owned a home before, though, you don’t have equity to fall back on and you might not have enough money for a down payment. Does this mean you can’t buy a new home?

Fortunately, there are federal first-time buyer programs to help.

Can a Seller Require Prospective Buyers to be Fully Vaccinated to View the Property?

Sellers are in the driver’s seat when it comes to deciding what they will and will not accept, especially when it comes to their health.

While we navigate the pandemic and its nuances still, many sellers wonder if they can require buyers to be fully vaccinated to view their property.

The truth is that the seller can set any rules he/she wants since it is their house. If a seller doesn’t feel comfortable having someone that isn’t fully vaccinated walk through their home, that is their prerogative.

But the question becomes, does this hurt the seller’s chances of selling the home?

While it might decrease the available pool of buyers because not everyone is vaccinated or even if they are, many aren’t willing to share those details there are ways around it.

Tips for Selling a Luxury Home – What is the Fastest way to Sell an Expensive House?

Selling a luxury home creates a unique situation. You don’t have the same large target audience you’d have selling an ‘average home.’ You must tailor your marketing strategies to attract the right buyer while knowing how to showcase the home’s features to get the price you want.

Today’s market is a seller’s market, but luxury homeowners are in a different boat. Your home may not sell as fast as less expensive homes, but here are a few tricks to sell your expensive house faster.

Before you look at homes, it’s always a good idea to get pre-approved for a mortgage. This way you know how much you can afford and what your mortgage payment will be. Before you get pre-approved, though, it’s important to know what factors affect mortgage approval.

Here are the top factors.

What Makes a Home High-End?

High-end or luxury homes are in a category all by themselves when you’re looking for a home. Most have incredible views, eccentric features, and are so large that it’s hard to picture your family living in something so grand.

But today, luxury homes or high-end homes are often misconstrued. Many listings claim a home is ‘high-end’ when it doesn’t truly have the features you’d expect in a luxury home.

So what makes a home worth of the ‘high-end’ status?

The home appraisal determines how much you’ll get for your home. You could ask for any price you want, but if your buyers need financing, it all depends on the appraised value. While you can’t control the market value (how much other homes sell for), you can maximize your home’s value with these helpful tips.

What is the 70% Rule when Flipping Houses?

If you’re thinking about flipping houses, you have to know how to bid on a property. Pay too much for a home and you’ll leave yourself with little to no profits when you sell. If you bid too low, though, you could lose the property.

So what’s the right price?

While there isn’t a one-size-fits-all approach, many investors use the 70% rule to come up with the right price. It sounds confusing, but once broken down, it’s easy to understand.

Buying your first home can be exciting and overwhelming at the same time. You’re fulfilling the American dream but at the same time, taking on the largest debt of your lifetime.

Fortunately, there are many great mortgage loans for first-time homebuyers. Here are our top choices.

When is the Best Time to Sell my Home?

You want top dollar for your house, and you want it to sell fast too. It’s a tall order to fill, but when you know the best time to sell your house, it can happen. While the right time to sell your house is when the house is in great condition, its value is up, and the market is hot, there are certain times of year that you should and shouldn’t sell your home.

Housing Market Predictions 2022

After a couple of years of short demand and crazy high sales prices, everyone wants to know, what will the 2022 housing market look like?

While they are just predictions, here’s what the experts believe we will see as we enter the New Year.

Renting vs Owning – Which is Right for You?

If you’re thinking about moving this year, you may wonder if renting or owning is the best choice? While there isn’t a one-size-fits-all approach to the matter, there are certain questions you should ask yourself to decide.

Do you Have Long-Term Plans?

When you buy a home, you can’t move as easily as you can when you rent. If you are ready to settle down in an area and commit, there’s no question that buying is better. But, if you aren’t sure where you want to settle down yet or you enjoy moving every year, renting may be the better choice until you are ready to set up roots.

Did you know that not all home renovations affect your home’s value? In other words, your ROI could be next to nothing on some renovations. Even if you do see a return on your investment, it’s sometimes less than half of what you paid.

Was it worth it?

Fortunately, many home renovations provide an exceptional return on your investment. Knowing what they are and how much of a return you’ll get can help you decide.

Is the housing market going to crash anytime soon? What goes up must come down, right? At least that’s what everyone is saying about the real estate industry. It can’t possibly stay this hot forever, or can it?

If history repeats itself (and it usually does), the housing market will change. The housing industry goes through phases – meaning one phase won’t last forever and that’s a good thing. If housing prices kept increasing at the rate they are now, it would become near impossible for most people to afford a home.