For Home Buyers January 23, 2023

Ways to get around today’s higher mortgage rates

Here are a few ways to potentially get around higher mortgage interest rates:

  1. Make a larger down payment: A larger down payment can help you qualify for a lower interest rate.
  2. Improve your credit score: A higher credit score can qualify you for a better interest rate.
  3. Shop around for rates: Compare rates from multiple lenders to find the best deal.
  4. Consider an adjustable-rate mortgage: An adjustable-rate mortgage (ARM) can have a lower interest rate at the beginning of the loan, but it can adjust over time.
  5. Look into government-backed loans: Government-backed loans, such as FHA loans and VA loans, may have more favorable interest rates.
  6. Consider seller financing: Some sellers may be willing to finance all or a portion of the sale, allowing you to avoid traditional mortgage financing.
  7. Consider buying a home with an assumable loan: An assumable loan is one where the buyer can take over the seller’s existing mortgage instead of getting a new one. This can be especially beneficial if interest rates have risen since the seller got their mortgage, as the buyer can assume the lower interest rates.
  8. Ask the seller to contribute towards a rate buy-down: Some sellers may be willing to contribute a portion of the sale price towards buying down your interest rate.
  9. Consider a 2-1 buy down or a 3-1 buy down: This type of financing involves paying a lower interest rate for a certain number of years, after which the rate adjusts to a higher rate. This can help you qualify for a lower interest rate now and then adjust later.

A few other tips to save money when buying a home:

Ask the seller to cover closing costs: Some sellers may be willing to cover a portion of your closing costs as a way to make the sale more attractive to you.

Look for homes that have been on the market for more than 90 days: Some sellers may be more willing to lower the price of their home if it has been on the market for an extended period of time. This can help you negotiate a lower price and lower your monthly payments.

It’s important to keep in mind that not all mortgages are assumable and the lender’s approval is also required. Additionally, it’s always best to consult with a financial advisor or a mortgage professional for personalized advice for your specific situation. If you need some phone numbers I can get you in touch with a few different lenders.

 

 

References

https://www.bankrate.com/mortgages/how-much-down-payment-do-you-need-for-a-house/

https://www.creditkarma.com/advice/i/improve-credit-score/

https://www.nerdwallet.com/blog/mortgages/shop-around-for-a-mortgage/

https://www.investopedia.com/terms/a/adjustableratemortgage.asp

https://www.fha.com/fha-loans 

https://www.va.gov/housing-assistance/home-loans/

https://www.bankrate.com/mortgages/refinance-guide/

https://www.investopedia.com/terms/a/assumablemortgage.asp

 

Also see:

5 Tips for Home Buyers

Home Inspection vs Appraisal

Why you should shop around and get multiple mortgage quotes

How to Buy a Home: Step-by-Step Guide

Em Portugues January 21, 2023

Por que contratar um Corretor de Imóveis

A compra de uma casa é uma das decisões mais importantes e complexas que uma pessoa pode tomar. Com tantas opções disponíveis no mercado imobiliário americano, pode ser difícil saber por onde começar. É aí que entra o papel de um corretor de imóveis, também conhecido como “realtor”. Este profissional tem a experiência e habilidade para guiá-lo através do processo de compra de casa, oferecendo benefícios valiosos que podem ajudar a garantir que você encontre e adquira a casa dos seus sonhos.

Um dos benefícios mais importantes de usar um corretor de imóveis é o acesso às informações do mercado. Um corretor de imóveis tem acesso a bases de dados de imóveis à venda, além de informações sobre preços, condições e histórico de vendas de imóveis semelhantes. Isso permite que ele ofereça a você uma visão mais precisa do mercado e ajude a encontrar uma casa que se encaixe em seu orçamento e atenda às suas necessidades.

Outro benefício é a ajuda que um corretor de imóveis pode oferecer durante as negociações. O corretor tem experiência em negociações e pode ajudá-lo a conseguir um bom negócio, garantindo que você pague um preço justo pela casa e evitando erros comuns que podem ser caros. Além disso, ele pode ajudá-lo a lidar com questões jurídicas e burocráticas, como contratos e documentação, garantindo que tudo esteja em ordem antes da compra.

Além disso, é importante mencionar que é o vendedor quem paga a comissão do corretor e não o comprador, portanto, não há custos adicionais para você. Isso significa que você pode desfrutar dos benefícios de um corretor sem qualquer custo adicional.

De acordo com a National Association of Realtors (NAR), 91% dos compradores de imóveis usam um corretor de imóveis e 89% dos compradores recomendam seus corretores de imóveis a amigos e familiares. Isso demonstra a importância e a satisfação dos clientes em usar um corretor de imóveis.

Em resumo, usar um corretor de imóveis oferece uma série de benefícios, desde o acesso às informações do mercado até ajuda nas negociações e questões jurídicas. E é importante lembrar que é o vendedor quem paga a comissão do corretor, não o comprador. Se você estiver pensando em comprar uma casa nos EUA, considerar usar um corretor de imóveis pode ser uma excelente decisão.

Referências:

Leia tambem:
Como Comprar uma Casa em Utah
Em Portugues January 21, 2023

O que é o CMA?

Uma análise comparativa de mercado, conhecida como CMA, é uma ferramenta valiosa para ajudar os compradores e vendedores de imóveis a entender as tendências de preços do mercado e como o valor de um imóvel se compara com outros imóveis semelhantes nas proximidades.

Uma CMA geralmente inclui informações sobre o tamanho, idade, estado de conservação, localização e características de imóveis semelhantes que estão à venda ou foram recentemente vendidos na área. Isso permite que os compradores e vendedores vejam como os preços se comparam com outros imóveis e possam tomar decisões informadas sobre preços de venda ou compra.

É importante mencionar que essa análise é feita por um profissional especializado, geralmente um corretor de imóveis, que tem acesso a informações precisas e atualizadas do mercado imobiliário.

Eu ofereço uma CMA gratuita para clientes que visitam meu site. Isso permite que eles tenham uma noção do valor do imóvel que estão buscando e possam tomar decisões informadas sobre seu próximo passo. Entre em contato comigo para obter a sua CMA gratuita hoje mesmo e comece a planejar a compra ou venda de sua casa com confiança. Free CMA

 

Leia tambem:

Como Comprar uma Casa em Utah

For Home Buyers January 21, 2023

5 Tips for Home Buyers

Get pre-approved

Getting pre-approved with a lender will give you an idea of how much you can afford. Shop around to find the best interest rate and terms for you. Comparing rates and terms from different lenders can help you find a better deal.

 

Work with a Realtor

A Realtor can provide valuable insights and advice. They can also help you find homes that match your criteria, assist you with negotiations, and handle the paperwork. Commission for the real estate agent is typically paid by the seller, so as a buyer, working with an agent won’t cost you. With new construction make sure you have an agent representing you not just one representing the builder.

 

 

Don’t look at homes you can’t afford

Be realistic about what you can afford and stick to your budget. It’s easy to fall in love with a home that’s out of your price range, but it’s important to stay within your means.

 

Look for homes that have been on the market for a while

(30+ days) Some sellers may be more willing to lower the price of their home if it has been on the market for an extended period of time. This can help you negotiate a lower price and lower your monthly payments.

Get a Home Inspection

Before you buy a home, make sure to have a professional home inspector inspect the property. This will help you identify any potential issues and make an informed decision about purchasing the home.

 

For Home Sellers January 21, 2023

5 Tips for Home Sellers

Price your home correctly

Price your home correctly with a CMA from a Realtor. A Realtor can provide you with a report of comparable homes that have recently sold, giving you a realistic idea of what your home is worth in today’s market. What is my home worth?

 

 

Stage your home

Whether you do it yourself or hire a professional. Staging your home can make it more appealing to potential buyers. This includes decluttering, rearranging furniture, and making repairs.

 

 

Improve curb appeal

The exterior of your home is the first thing potential buyers will see, so make sure it looks its best. This can include landscaping, painting the front door, and adding a fresh coat of paint to the exterior.

 

 

Take high-quality photos and offer a 3D tour

According the National Association of Realtors:

  • Over 90% of home buyers search for their homes online.
  • Homes that have a 3D tour sell faster and at a higher price than those that do not, spending 31% less time on the market

 

 

Be flexible with showings

Be flexible with showings to make it as easy as possible for potential buyers to view your home. This includes being available on short notice and accommodating open houses.

 

Also see:

How to sell your Home

Why FSBO is a Bad Idea 

How to Prepare Your Home for Real Estate Pictures

For Home Sellers January 14, 2023

How to Prepare your home for Real Estate pictures

Staging your home for real estate pictures is an important step in the process of selling your home. Not only can it help your home stand out in a crowded market, but it can also help potential buyers envision themselves living in the space. Here’s a step-by-step guide on how to stage your home for real estate pictures, along with a checklist of items to consider:

 

Declutter and depersonalize: The first step in staging your home is to declutter and depersonalize the space. This means removing personal items such as family photos, religious items and anything that can make the space look too personal. Also, remove any unnecessary items that could make the space look cluttered, such as knick-knacks and small appliances on countertops.

 

Clean and repair: Once you’ve decluttered, it’s time to clean and make repairs. This means washing windows, dusting, vacuuming and mopping, and fixing any visible damages such as scratches or chips on walls.

 

Rearrange furniture: After cleaning and repairing, it’s time to rearrange your furniture. You want to create an open and inviting space, so make sure to leave plenty of negative space around furniture. Keep in mind that furniture should be in proportion to the size of the room and that the focal point of the room should be highlighted.

 

Add lighting: Good lighting is essential when staging your home for real estate pictures. Open curtains, blinds and turn on all lights to make sure the space is well-lit. If a room doesn’t have enough natural light, add additional lighting such as table or floor lamps to brighten up the space.

 

Add finishing touches: Once the furniture is arranged, add finishing touches to your home. This can include adding fresh flowers, a bowl of fruit, or a vase of greenery to your kitchen or dining room table. Consider adding a throw blanket or pillows to your sofa or bed to make the space look cozy.

 

Take pictures: Now that your home is staged, it’s time to take pictures. Make sure to take pictures during the day when the lighting is best and avoid taking pictures during sunset or night. This will ensure that your home looks bright and well-lit in the pictures.

 

By following these guidelines you can create an open and inviting space that will appeal to potential buyers. Remember that the goal is to make the space look as attractive as possible so that buyers can envision themselves living in the home. With a little bit of effort and preparation, you can increase the chances of your home being sold quickly and at a good price.

 

Here are some references that may be useful:

 

These references provide statistics and information about the benefits of home staging and the impact it can have on the success of a home sale. Additionally, they can provide more information on how to stage a home, and the importance of good lighting, decluttering and depersonalizing the space, and making necessary repairs.

 

You may also want to check out:

How to sell a home in Utah

Why FSBO may be a bad idea

For Home Sellers January 14, 2023

How to Sell a Home in Utah

Selling a home is a complex process that can be overwhelming for many homeowners. However, understanding the steps involved and the potential challenges can help make the process smoother and more successful. Here is an overview of the steps involved in selling a home, including statistics and references to help guide you through the process:

Determine the value of your home

One of the first steps in selling your home is determining its value. You can do this by researching comparable home sales in your area, consulting with a real estate agent, or getting a professional appraisal. According to the National Association of Realtors (NAR), the median time a home was on the market before being sold was just 21 days in October 2021.

Prepare your home for sale

Once you have an idea of the value of your home, it’s time to prepare it for sale. This can include decluttering, deep cleaning, and making any necessary repairs or updates. According to NAR, the most common home improvement projects that homeowners undertake before selling are painting, followed by landscaping and then bathroom remodels. See: How to Prepare your Home for Real Estate Pictures

List your home

Once your home is prepared, it’s time to list it for sale. You can do this by hiring a real estate agent, listing it on your own, or using a combination of both. According to the National Association of Realtors (NAR), the majority of homeowners choose to work with a real estate agent when selling their home. Realtors can help you with the listing process, and can market your home to a wider audience through the Multiple Listing Service (MLS), social media, and other professional networks. According to NAR, homes sold by agents sell for a higher price than For Sale by Owner (FSBO) homes, with the typical FSBO home sold for $200,000 compared to $265,500 for agent-assisted home sales. Know what your home is worth, get a free Home Valuation Estimate.

Show your home

Once your home is listed, you will need to show it to potential buyers. This can include open houses, private showings, and virtual tours. A study by the National Association of Realtors (NAR) found that virtual tours were used in 44% of all home sales in 2020.

Receive and review offers

Once you have interested buyers, you will receive offers on your home. It’s important to review each offer carefully and consider factors such as the price, the terms, and the buyer’s qualifications.

Negotiate and accept an offer

After reviewing the offers, you will need to negotiate with the buyer to come to an agreement on price and terms. Once you have accepted an offer, you will need to sign a purchase agreement and move forward with the sale.

Complete the sale

The final step in selling your home is completing the sale. This can include scheduling and completing a home inspection, arranging for the transfer of ownership, and completing the closing process. According to NAR, the median time from contract to closing was 42 days in 2020.

In conclusion, selling a home is a complex process that involves several steps, including determining the value of your home, preparing it for sale, listing it, showing it, receiving and reviewing offers, negotiating and accepting an offer, and completing the sale. By understanding the process and working with a real estate agent, homeowners can increase their chances of a successful and profitable home sale.

Please keep in mind that the statistics and information are from the time of my knowledge cutoff and may have changed since.

You may also want to read: “Why FSBO can be a Bad Idea

For Home Sellers January 14, 2023

Why FSBO can be a bad idea

Selling a home For Sale by Owner (FSBO) may seem like a way to save money on real estate commissions, but it can actually be a costly mistake. While some homeowners may successfully sell their homes without the help of a realtor, there are many potential drawbacks to selling FSBO, and it may end up costing the homeowner money in the long run. Here are a few reasons why selling FSBO is a bad idea and how it may lead to a financial loss for the homeowner:

Lack of exposure

One of the biggest challenges of selling FSBO is getting your home in front of the right buyers. Real estate agents have access to a wide network of buyers and can market your home to a larger audience through various platforms such as the Multiple Listing Service (MLS), social media, and other professional networks. According to the National Association of Realtors (NAR), only 8% of FSBO homes are sold to buyers who found the home through the internet, while 92% of buyers found their home through a real estate agent.

Pricing your home too high

Without the expertise of a realtor, it can be difficult to accurately price your home. Realtors have access to comparable home sales data and can provide you with a realistic market value for your home. According to NAR, FSBO homes sell for an average of $200,000, while homes sold by an agent sell for an average of $265,500. This means that FSBO sellers may miss out on thousands of dollars in potential profits by pricing their homes too high. Get a Free Home Valuation Report

Legal and paperwork complications

Selling a home can be a complex process with a lot of paperwork and legal requirements. Real estate agents are familiar with the legal and paperwork requirements, and can help ensure that everything is done correctly. FSBO sellers may not have the knowledge or resources to navigate these complexities, which can lead to delays and legal issues.

Difficulty handling negotiations

Negotiating a home sale can be a delicate process, and FSBO sellers may not have the experience or knowledge to handle negotiations effectively. Real estate agents are trained to handle negotiations and can help ensure that the best deal is reached for their clients.

No protection against liability

Real estate agents are licensed professionals who carry errors and omissions insurance to protect their clients from liability. FSBO sellers do not have this protection and may be held liable for any mistakes made during the sale process..

 

What the studies say:

  • According to the National Association of Realtors (NAR), only 8% of FSBO homes are sold to buyers who found the home through the internet, while 92% of buyers found their home through a real estate agent.
  • NAR also found that the typical FSBO home sold for $200,000 compared to $265,500 for agent-assisted home sales. This means that FSBO sellers may miss out on thousands of dollars in potential profits by pricing their homes too high.
  • A study by Collateral Analytics found that homes sold by agents sold for a median of $65,000 more than homes sold by the owners.
  • A study by Redfin found that FSBO homes sold for $65,000 less than homes sold by agents.
  • According to a study by Homes.com, only 10% of homes sold FSBO actually sell.

References:

These statistics and references suggest that most buyers use a real estate agent to find a home, and homes sold by agents tend to sell for a higher price than FSBO homes. Additionally, a low percentage of FSBO homes actually sell which shows that the process can be challenging and complex.

If you want to get a good deal on your home let’s schedule a free consultation and see if we can reach an agreement that works for your budget!

 

Also see:

5 Tips for Home Sellers

How to Sell Your Home

How to Prepare Your Home for Real Estate Pictures

For Home Buyers January 14, 2023

Home Inspection vs Appraisal

When buying a home, it is important to understand the difference between a home inspection and an appraisal. Both are important steps in the home buying process, but they serve different purposes and provide different information.

A home inspection is a thorough examination of a home by a licensed inspector. The inspector will check for any potential issues with the home, such as structural damage, electrical or plumbing problems, and any other concerns that may affect the safety or livability of the home. According to the National Association of Home Inspectors, the average cost of a home inspection is between $300 and $500.

An appraisal, on the other hand, is an assessment of the value of a home. An appraiser will examine the home and compare it to similar homes in the area to determine its value. Appraisals are typically required by mortgage lenders as a condition of funding a loan. According to the Appraisal Institute, the average cost of an appraisal is around $450.

While both home inspections and appraisals are important steps in the home buying process, they serve different purposes. A home inspection is designed to identify any potential issues with the home, while an appraisal is designed to determine the value of the home.

One of the benefits of a home inspection is that it can help you identify any potential issues with the home before you make an offer. This can save you money in the long run by allowing you to negotiate for repairs or a lower price. Additionally, a home inspection can give you peace of mind by ensuring that the home you are buying is safe and livable.

In conclusion, it’s important to understand the difference between a home inspection and an appraisal when buying a home. A home inspection can help you identify any potential issues with the home, while an appraisal is used to determine the value of the home. Both are important steps in the home buying process and can save you money and give you peace of mind.

References:

For Home Buyers January 14, 2023

Why you should shop around and get multiple mortgage quotes

When you’re buying a home, one of the most important decisions you’ll make is choosing a mortgage lender. While it may be tempting to go with the first lender you talk to, it’s important to shop around and get multiple mortgage quotes. But, how does this affect your credit? And when should you start looking for a mortgage lender?

When you apply for a mortgage, most lenders will pull your credit report, which can have a small negative impact on your credit score. However, if you shop around for a mortgage within a short period of time, typically 45 days, the credit bureaus will recognize that you are rate shopping and will only count it as one inquiry. So, getting multiple quotes from different lenders within a short period of time will not have a significant impact on your credit score.

Shopping around for a mortgage can have several benefits. First, it can help you find the best interest rate and loan terms for your specific situation. According to the Consumer Financial Protection Bureau, borrowers who get at least three quotes save an average of $3,000 over the life of their mortgage. Additionally, shopping around can help you find a lender who is a good fit for your needs and can provide the best customer service.

It’s recommended to start looking for a mortgage lender around 3-6 months before you plan to buy a home. This will give you enough time to shop around and compare different options, without feeling rushed. It also allows you to take the time to get your credit in order, if necessary.

If you need help finding a good mortgage officer please reach out and I can get you in touch with some amazing lenders!

References: