Do You Know the Cost of Waiting? [INFOGRAPHIC]

Some Highlights:

• The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
• Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic.
• Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!

Have a Question?

Contact Us Now!

*Your information will never be shared with any third party.

881 Views, 0 Comments

How Big Is A House?

Something that surprises many homebuyers is there is nothing in our contracts that states the size of a home you are buying.

Home sizes are usually quoted using a 3rd party measurement. The Realtor listing the home will say the home is 3,000 square feet and then state the source of that measurement, usually the tax appraisal office. The tax office appraisal is not always accurate. Even two experienced appraisers may come up with different measurements.

Your mortgage company will have the home measured by an appraiser. Because the home measurement isn’t part of the contract if the mortgage company appraiser measurement comes in smaller than expected that doesn’t give you the right to terminate your contract.

This is an interesting article talking…

922 Views, 0 Comments

How A Leaseback Can Make Your Move Easier

Would you like to move up to a larger home but you’re afraid of having to move twice?

Something that may help your situation is called a leaseback. A leaseback allows you to stay in your home for a period of time after closing, making your move to a new home easier.

We have become very experienced in helping our clients negotiate leasebacks. Currently we have 4 seller clients who we helped negotiate a lease back for as part of their sale.

Here’s how a leaseback works…

Along with the standard contract there is a 2 page addendum that allows for the seller to remain in the home after closing as a tenant. The buyer becomes the landlord.

This is a very simple form that spells out how long the seller can remain in the home along with a rental…

1364 Views, 0 Comments

The Importance of Using a Professional to Sell Your Home

When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%.

However, the report also revealed that 96% of buyers who used the internet when searching for homes purchased their…

806 Views, 0 Comments

It's a Seller's Market, Should I Downsize?

A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their houses in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.

In a blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:

1. A smaller home means less space, but it also means less time, stress and money spent on upkeep.
2. Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6…

893 Views, 0 Comments

Thinking of Selling? Do it TODAY!!

That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

And CNBC says consumer…

833 Views, 0 Comments

Buying this Spring? Be Prepared for Bidding Wars

Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!

Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available.

A recent Bloomberg article touched on the current market conditions:

“It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent…

836 Views, 0 Comments

How Long Do Most Families Stay in Their Home?

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

880 Views, 0 Comments

10 Questions To Ask A Listing Agent

You owe it to yourself to hire the best listing agent for your home. Here are a few questions you should ask when interviewing listing agents.

1. Are you a full time Realtor?
2. Will we be working with you personally or passed off to an assistant?
3. What updates or changes can we make to increase our sales price?
4. Do you believe an open house will help sell our home?
5. Do you work with a home stager and provide furniture for staging?
6. Will our home be featured on Zillow and Realtor.com?
7. What is your cancellation policy? 
8. Do you also work with buyers? 
9. What day of the week should we list; do you have a marketing strategy?
10. Do you promise gimmicks like “I’ll buy your home…” that we heard on the radio? 

Want to know our answers?…

1067 Views, 0 Comments

A Tale of Two Home Buyers

Our real estate market in certain price ranges and areas is still extremely competitive. In a market like ours there are two ways to buy a home. One way gives you the best chance to buy a great home. The other way will be frustrating and leave you picking through only the homes nobody else wants.

Joyce Peterson was recently contacted by a buyer who wanted to move his family into a larger home. In his desired neighborhood there are many people who want to buy this type of house. We have seen several other agents post messages in Realtor Facebook groups asking for this exact type of property and we know from open houses we have done in the same neighborhood there is a great demand for larger, newer homes in the neighborhood.

Because this buyer…

948 Views, 0 Comments